Duncan Park Holdings Corporation
TSX VENTURE : DPH

Duncan Park Holdings Corporation

April 02, 2007 15:09 ET

Duncan Park Holdings Announces Rock Creek Exploration Program Update

TORONTO, ONTARIO--(CCNMatthews - April 2, 2007) - Duncan Park Holdings Corporation (TSX VENTURE:DPH) ("Duncan Park") announced today an exploration program update on its Rock Creek Project in Lander and Eureka Counties, Nevada.

Duncan Park has completed a four hole diamond bit core drill hole program totaling 7,855 feet in the initial phase of the project. The Rock Creek project is located in northern Nevada, 30 miles east-northeast of Battle Mountain, Nevada. The property is located along the Northern Nevada Rift, a major geologic feature that hosts high-grade, vein gold properties like Midas, Ivanhoe and Silver Cloud. The property has had shallow, intermittent exploration in the past. None of the earlier drilling tested deeper levels (greater than 700 feet vertical depth from surface) for high-grade mineralization associated with boiling zones during vein formation.

The initial targets were based on reports of previous drilling by other companies, surface mapping, and ground geophysics. The drill program was designed to test deeper levels of the known volcanic-hosted, low sulfidation epithermal vein system as expressed on the surface. Beyond drilling altered volcanics, three of the four drill holes encountered carbonaceous Paleozoic sediments comprised of chert, mudstone, siltstone and laminated limestone with rare fossiliferous debris flows at depth.

The results of the Duncan Park core drilling at Rock Creek suggest that the exploration targets on the claims are Midas-Style volcanic hosted epithermal vein systems at shallow levels and possible Carlin-type disseminated gold hosted in both Upper and Lower Plate Paleozoic lithologies at depth.

The drilling thus far has been based on a Midas-type mineralization model. Core drilling completed has shown that the volcanic hosted epithermal model holds true to depths of approximately 1,000 feet. Below this depth Late Paleozoic bedrock is encountered in the form of probable Battle Conglomerate Formation equivalent, which, in turn, is underlain by sheared Late to Early Paleozoic lithologic sequence. The conglomerate has weak to strong argillization and or silicified zones with only minor structural disruption.

At deeper levels silicified limestone interbedded with calcareous mudstones are found. These lower units are inferred to be Lower Plate lithologies. The Upper Plate rock consists of black to grey-black chert and interbedded carbonaceous mudstone, which is interpreted to be equivalent to the Ordovician Vinnini Formation. The mudstone becomes silty with less amounts of chert at depth. Below the mudstone/siltstone sequence a black chert to argillite unit that may be equivalent to the Woodruff Formation on a regional basis (locally the Rodeo Creek unit, i.e. Carlin Trend). Underlying the chert-argillite is black to medium and light grey interbedded to laminated limestone with rare fossiliferous debris flow thin beds. The calcareous rock is believed to be equivalent to the Roberts Mountains Formation as seen on the Carlin Trend.

The entire sequence of Upper and Lower Plate rock is strongly sheared and faulted. The shear fabric is overall low angle and the contacts of the major units are faulted. The amount of structural disturbance makes positive identification of true thicknesses of the different rock packages tentative. Several zones of veining are encountered within the Paleozoic basement, often with associated pyrite as disseminations and micro-veining. Within the upper Plate sequence, the veining is dominated by quartz with minor barite. Within the calcareous rock a fault zone occurs with abundant barite and calcite veining with minor disseminated pyrite similar to that observed on the Carlin Trend. Within the limestone are areas of decalcification.

Although the Paleozoic rock is distal to the Carlin Trend (approx. 5 miles) the package is texturally similar. The grey-black chert contains a "spider-web texture" as that found in the Ordovician Upper Plate of the Northern Carlin trend. The argillite sequence contains quartz veinlets that occur perpendicular to the argillite/chert thin beds, which is reminiscent to the argillite of the Rodeo Creek unit. Within the limestone, the fossiliferous debris flows combined with the laminated light and dark grey limestone is texturally identical to the laminated Roberts Mountains Formation as seen along the Carlin Trend.

Assay data indicate that there is elevated, anomalous Silver with some zones of anomalous Gold, hosted within both the volcanic high level package and also within the lower sheared Paleozoic bedrock lithologies. Multi-element geochemistry has been done on the Lower Plate sequence. Examination of the data suggests that geochemically, the rock is similar to that of the Carlin Trend. Additionally, there is elevated Au, Ag, As, Hg and Tl which is consistent with an interpretation of a Carlin-type mineralizing system. The occurrence of sulfide-bearing Barite veining at depth along with the thick package of calcareous rock suggest that the deep anomalous mineralization may be related to deep epithermal and/or Carlin-type mineralizing hydrothermal systems.

All of the core holes were drilled at an angle to better test high angle structure and cover a greater amount of stratigraphy. RC-1C was drilled to total depth of 2,154 feet with only weakly anomalous silver values within the volcanic sequence. Within the Paleozoic rock there are long intervals averaging 2 gram/t silver and .02 g/t gold. RC-2C and RC-3C were drilled approximately 950 feet north of RC-1C from the same drill pad with RC-2C angled at approximately 55 degrees and RC-3C at an angle of 65 degrees. RC-2C reached 1,980 foot depth and contains elevated anomalous gold and silver within the volcanic sequence with average gold values of 0.04 g/t gold and 2 g/t silver. Within the Paleozoic sediments silver averages over 2 g/t silver with gold varying from 0.015 to 0.02 g/t. RC-3C contains only weakly anomalous gold and silver values within the volcanic sequence. As with RC-1C and RC-2C the Paleozoic rocks have anomalous gold and average of 2 g/t silver. The Lower Plate rock sequence gold, silver and other pathfinder elements increase up to ten-fold that of the overlying rock packages. RC-4C was drilled approximately 800 feet south of RC-1C testing a geophysical target under pediment. Strongly altered volcanic flows were encountered but no values above cut-off were found. Refer to the tables below for select intervals and elements illustrating the above discussion. Additional assay data will be available on the Duncan Park Holdings website.



Select gold and silver assay intervals of Rock Creek core drilling

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SAMPLE Au Ag SAMPLE Au Ag SAMPLE Au Ag
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DESCRIPTION ppm ppm DESCRIPTION ppm ppm DESCRIPTION ppm ppm
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RC-1C RC-3C
1865-1870 0.018 7.1 RC-2C 375-380 0.041 1.8 1600-1605 0.010 3.6
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RC-1C RC-3C
1870-1875 0.024 7.4 RC-2C 380-385 0.053 2.3 1605-1610 0.009 3.1
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RC-1C RC-3C
1875-1880 0.017 7.9 RC-2C 385-390 0.048 1.0 1610-1615 0.023 2.8
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RC-1C RC-3C
1880-1885 0.044 4.7 RC-2C 390-395 0.006 0.4 1615-1620 0.013 2.9
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RC-1C
1885-1890 0.020 4.8 RC-2C 395-400 0.032 0.9
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RC-1C
2015-2020 0.037 8.9 RC-2C 400-405 0.011 0.7
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RC-2C 405-410 0.031 1.0
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RC-2C 1680-1685 0.027 5.5
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RC-2C 1685-1690 0.027 11.0
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RC-2C 1690-1695 0.032 6.7
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Select multi-element geochemistry of Paleozoic Lower Plate rock, RC-3C

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SAMPLE Au Ag As Ba Ca Mg Fe S Hg Sb Se Tl
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DESCRIPTION ppm ppm ppm ppm % % % % ppm ppm ppm ppm
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RC-3C
2440-2445 0.006 0.85 3.6 330 7.29 1.77 1.19 0.93 0.14 0.71 2.4 0.04
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RC-3C
2445-2450 0.013 1.24 8.9 80 4.21 2.08 1.97 2.04 0.31 1.50 4.8 0.08
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RC-3C
2450-2455 0.008 1.23 8.4 90 0.16 0.62 1.53 1.39 0.30 1.58 5.2 0.07
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RC-3C
2455-2460 0.014 2.06 12.3 200 5.38 2.75 1.66 1.60 0.46 2.46 7.4 0.13
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RC-3C
2460-2465 0.026 2.15 14.4 140 4.65 2.43 1.76 1.79 0.53 2.71 10.0 0.09
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RC-3C
2465-2470 0.009 2.07 14.9 90 5.41 2.81 1.73 1.72 0.48 3.09 9.7 0.09
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RC-3C
2470-2475 0.001 2.27 14.7 140 4.34 2.26 1.67 1.58 0.48 3.48 10.2 0.1
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RC-3C
2475-2480 0.023 2.61 24.9 220 3.81 1.73 1.45 1.57 0.62 8.58 19.5 0.11
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RC-3C
2480-2485 0.016 2.65 25.6 80 4.89 2.41 1.98 1.86 0.59 8.14 15.3 0.08
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RC-3C
2485-2490 0.001 3.28 53.6 50 4.34 1.97 3.66 4.24 0.88 12.90 16.5 0.12
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RC-3C
2490-2495 0.011 2.11 33.9 60 4.67 2.45 1.73 1.81 0.58 10.35 13.9 0.19
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RC-3C
2495-2500 0.011 2.02 40.2 60 4.61 2.52 2.02 2.34 0.59 9.87 13.4 0.19
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An additional core drill hole program is planned to further delineate the known volcanic-hosted, low sulfidation epithermal vein system along with investigating the distribution of Lower Plate-Carlin Trend type lithologic sequence. Please refer to Duncan Park's press releases of August 10, 2006 and November 9, 2006 for further information on the Rock Creek Exploration project.

All of the Duncan Park drill holes at Rock Creek have been cored from surface. The core is collected each day by the geologist and brought to a secure facility. The core is split and ALS Chemex picks up the split core from the facility and delivers it to its laboratory in Elko, NV for preparation and analysis. The prepared core samples are analyzed using ALS Chemex's fire assay/atomic absorption AA-Au23 method for gold, and Ms-ICP for the multi-element analysis.

This report was prepared by Greg Griffin, B.Sc., geology, Chief Geologist for Duncan Park Holdings Nevada, Ltd., a wholly-owned subsidiary of Duncan Park. The data herein and the contents of this press release have been reviewed by Mr. Larry Kornze, a director of Duncan Park, who is designated as the qualified person for purposes of National Instrument 43-101, with the ability and authority to verify the authenticity and validity of this data. Duncan Park intends to post a more detailed, exploration analysis report on its website shortly. www.duncanpark.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains "forward-looking information", within the meaning of applicable Canadian securities legislation, concerning the business and operations of Duncan Park. Forward-looking information includes, but is not limited to, information with respect to exploration activities and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Duncan Park, to be materially different from those expressed or implied by such forward-looking information, including, but not limited, to: risks related to changes in project parameters as plans continue to be refined; future commodity prices, possible variations in possible mineralization, government regulation, environmental risks and other risks associated with mineral exploration. Although Duncan Park has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Duncan Park does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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