Duncan Park Holdings Corporation
TSX VENTURE : DPH

Duncan Park Holdings Corporation

September 07, 2005 09:01 ET

Duncan Park Holdings Corporation Announces Polymetallic AU-AG-CU-PB-ZN Mineralization Discovery

TORONTO, ONTARIO--(CCNMatthews - Sept. 7, 2005) - Duncan Park Holdings Corporation (TSX VENTURE:DPH) is pleased to issue a progress report on its Phase 2 drill program of the Elephant Gold and Silver property located at the Battle Mountain mining district, Nevada. The property abuts the Newmont Mining's Phoenix Project which commenced construction of a new open pit mine complex (please see DPH Press Release of February 10, 2005).

Five cored diamond HQ drill holes with a total aggregate length of 2,317 meters were completed to date with progressively encouraging results. The first two holes (P-6C and P-1C) were drilled to test a gravity high anomaly with negative results, without achieving target. These holes were collared at 1,250 m apart in a NW-SE direction. Both encountered sequences of barren volcanics ranging from basalt flows on top and underlain by variegated horizons of pyroclastics rock and flows collectively known as the Tertiary Caetano tuff.

The latest three holes (P-3C; P-4C and P5-C) were drilled approximately 500 m northwest of the gravity high anomaly target above. These three holes were designed to test the eastern edge of an IP anomaly coincident with the notable curving western edge of the gravity high. The IP target was delineated by Zonge Geosciences Inc. in 2004 as part of Duncan Park's Phase 1 exploration program. It was defined by five control lines set 305 m apart and 2,500 m long each for a total areal coverage of 305 hectares or 3.05 km2.

All three holes intersected Paleozoic basement rock. The basement rock units consist predominantly of sandstone to quartzite with horizons of interbedded mudstone/siltstone that may have had primary calcareous components. This is tentatively field classified as corresponding to the Cambrian Harmony formation. Intruding this is quartz porphyry dikes and sills which has a coarsely crystalline phase and a finer grained phase occurring in the margin of the intrusions perhaps as "chill margin" phenomena. This sequence has been subjected to metamorphism, turning the sediments to hornfels/skarn and the intrusives to varying degrees of chloritization-epidotization-and pyritic alteration. The stratigraphic field classification was based on the current Duncan Park drilling program and comparison to the regional stratigraphy of the Battle Mountain block mining districts (i.e. Copper Basin, McCoy/ Cove and Copper canyon areas).

Salient descriptions of these three holes are as follows:

P-3C: A thickness of 107 m of Paleozoic unit from 106 m to 213 m. There were two distinct zone of quartz porphyry intrusion intersects at 184-190 m and 202-210 m. A post mineralization fault was intersected from 213 m to 259 m interval. There are several horizons of elevated Au, Ag and some weak base metal values. Within the Paleozoic basement zone of interest the values range from 0.01 - 2.17 ppm Au and 0.2 - 7.41 ppm Ag.



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Interval m Au ppm Ag ppm Cu ppm Pb ppm Zn ppm
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121.5 - 123 1.415 4.33 215 247 372
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127.7 - 129 1.25 6.36 272.5 145.2 772
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201 - 202.5 1.635 0.58 108.5 15.7 35
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205.5 - 207 2.17 0.93 128.5 23.4 27
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P-4C: This drill hole was collared 60m due south of P-3C. Total Paleozoic unit intercepted is 47 m from 117.6 to 195.3 m. Quartz eye porphyry intrusion was noted at 180 m to 184.5 m intercepts. Post mineralization fault was intersected from 197.4 to 239.4m interval. The stratigraphic sequence is nearly identical to P-3C. Elevated mineralized values were present throughout the Paleozoic unit and intrusive. Following are the more significant intervals:



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Interval m Au ppm Ag ppm Cu ppm Pb ppm Zn ppm
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133.5-135 1.04 0.29 119 11.1 20
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144.6-145.6 0.556 9.86 1820 73.4 151
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147.9-150 1.58 1.18 675.43 23.4 49
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160.2-162 0.78 0.26 110.92 9.33 33.33
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163.5-165 1.55 0.60 200 19.3 13
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175.5-177.9 0.96 0.46 264.03 10.92 25.81
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177.9-181.5 0.52 1.36 699 11.95 25.67
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P-5C: This was collared 90 m due west of P-4C. Thickness of the Paleozoic unit is 140 m from 70.8 m to 211 m. Quartz porphyry intrusion intersect starts below a thick fault zone from 132 m and ends at 192 m. The lower portion of the porphyry is heavily faulted. The fault zone itself continues to 212 m where the general nature becomes similar to the post-mineral fault in P-3 and 4C. Elevated mineralized values were likewise throughout the Paleozoic unit and intrusive. The following table shows the more significant intervals:



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Interval m Au ppm Ag ppm Cu ppm Pb ppm Zn ppm
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129-130.5 1.14 1.95 257 78.2 34
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142.5-144 1.37 0.25 238 10.9 22
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147-148.5 2.73 0.31 219 11 25
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151.5-153 0.44 8.82 1440.4 459.6 617.2
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154.5-157.5 3.1 0.253 186.4 11.1 53.2
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163.5-170.1 1.13 27.61 650 3900.68 4555.68
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Including
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169.5-170.1 4.4 81 2130 16000 22900
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And continues with
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180.9-183 1.59 3.6 370 902.93 1312.14
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In addition to the above intervals there are zones with anomalous values of Au, Ag, Cu, Pb and Zn in all three drill holes. Complete assay results will be posted on the company website.

Following are general observations based on current results:

(1) No values were noted above or below the Paleozoic basement rock. Elevated Au and other metal values are associated with faults cutting across the meta-sediments and porphyry intrusive.

(2) Contact between the two units tends to have increased mineralization.

(3) Pyrite occurs as disseminations in the groundmass of the intrusive and also within the matrix of the meta-sediments (hornfels). Pyrite also occurs as dendritic masses, blebs, veinlets following micro fractures.

(4) Also observed are chalcopyrite veinlets and rare euhedral sphalerite veining.

(5) Based on tentative correlation between geophysical data and core drilling, it is believed that the first two holes (i.e., P-6C and P-1C) were drilled on a down-thrown block filled-in mostly by barren volcanic units. The three later holes (i.e., P-3C to 5C) were located in an up-thrown (horst) block. This block trends north-northwest with a width greater than 300 m and of unknown strike length.

This progress update is based on the report by Mr. Gregory L.Griffin, B.Sc. of Carlin, Nevada, Project manager/Chief Geologist of Duncan Park. Alexander Y. Po, M. Engr., P.Geo. geological consultant for the company have visited the project site during and after the drilling of the five holes being reported, reviewed the data and is acting as the Qualified Person for this press release.

Assaying was conducted by ALS Chemex of Vancouver, BC Canada. Au was assayed by using 50 g charge Fire Assay with ICP-AES finish. Multiple Element analysis was done using 47 element four acid ICP-MS.

Drill cores were split by diamond saw at the Battle Mountain field office of Duncan Park Holding (DPH). Splits are retained in the Duncan Park warehouse for reference purposes and the other half are bagged as core samples picked up by representatives of ALS Chemex from the Duncan Park warehouse.

Drill numbers followed numbering of proposed holes and not according to chronological sequence of actual drilling.

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

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