SOURCE: FIRST NARROWS RESOURCES CORP.

July 06, 2007 09:25 ET

First Narrows Discovers New Sulphide Zone North of Chester Deposits

Drilling Intersects 150 Meters of Disseminated Sphalerite, Galena and Pyrite Mineralization

VANCOUVER, BC--(Marketwire - July 6, 2007) - First Narrows Resources Corp. (TSX-V: UNO) (PINKSHEETS: FNRWF) ("First Narrows" or the "Company") is pleased to announce the discovery of a potentially large, at-surface, zone of disseminated and stringer pyrite, sphalerite, and galena mineralization. The discovery lies immediately north and northeast of the Chester Feeder and Central base metal and polymetallic sulphide deposits.

The Company completed two core drill holes testing a large moderate strength zinc, lead, and silver (+/- copper) soil geochemical anomaly. The drilling is part of a bedrock geotechnical program evaluating the area as a possible site for mine/mill infrastructure for the contemplated development of the Feeder copper-polymetallic deposit. In light of the new discovery, alternate sites are now being investigated.

No record has been found of any previous soil geochemical surveys having been carried out in the area.

First Narrows sampled and assayed core from a preserved historical vertical drill hole collared at 5220602N, 710314E, and beyond the limits of the Company's soil survey. The assay results outlined a thick zone of zinc, lead and silver from surface to a depth of 91 meters, the depth examined in the historical drill hole. Assays from the top 29 meters of the hole averaged 2.26 gpt silver, 0.43% zinc, and 0.29% lead. The mineralization, hosted in a sequence of altered felsic volcanic rocks, is characterized by less than 5% disseminated and stringer sulphides (mainly pyrite), with associated red sphalerite (ZnS) and minor galena (PbS).

The Company's two vertical holes numbered 2186-07-001 and 2186-07-002, collared at 5220550N, 710550E and 5220500N, 710550E respectively, are located approximately 255 meters east-southeast of the historical hole, and 500 meters northeast of the area of current drilling on the Feeder Deposit. Both holes intersected disseminated red sphalerite and galena beneath the western extent of the soil geochemical anomaly from surface to a depth of up to 150 meters. This suggests the sulphide zone is thick and flat to gently inclined, and would therefore be amenable to open pit mining methods. Sampling and assaying are pending.

The Company plans to conduct follow-up IP geophysical and soil geochemical surveys, followed by drilling, to fully delineate the extent of the new discovery. Although the size and grade of the discovery are not presently known, the magnitude of the Ag-Zn-Pb-Cu soil geochemical anomaly ( > 600 meters by > 400 meters), coupled with the Company's early drill hole and analytical results, suggest the resource potential may be very large. The discovery lies on First Narrows' 100%-owned claims in which Teck Cominco Ltd. has certain rights to back in for a 60% interest.

The geotechnical drilling program will continue as part of a broader investigation for the purpose of identifying a potential mine/mill site for the Feeder deposit that would not interfere with the development of an economic mineral deposit.

Earnest Brooks, P.Geo., is the Company's Qualified Person on the Chester Project. Mr. Brooks was formerly a Mine Geologist at the Patino Mines Copper Rand Mines Div. in Chibougamau, Quebec, and a mining operations geologist and exploration geologist at the BMS mines, Bathurst, from 1975 to 1990.

About First Narrows Resources Corp.:

First Narrows Resources Corp. (TSX-V: UNO) is a Canadian-based mineral exploration company whose corporate strategy is to develop overlooked and undervalued mineral properties that offer near term production potential. The Company has active projects in the Province of New Brunswick, Canada and in the State of Sonora, Mexico. The most advanced project is the 100%-owned Chester copper-polymetallic deposit in New Brunswick's Bathurst Mining Camp, which is rapidly moving forward to NI 43-101 mineral resource estimate and conceptual mine design status. For more information visit: www.uno.ca

ON BEHALF OF THE BOARD OF DIRECTORS
"Peter K. Gummer"
Peter K. Gummer, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein. We seek safe harbour.

Contact Information

  • For Corporate, Media, or Investor Inquires contact:
    Greg Lytle
    Communications Manager
    First Narrows Resources Corp.
    N. America Toll-free: (866) 285-5817
    Int'l or Vancouver: (604) 839-6946
    Email: Email Contact

    First Narrows Resources Corp.
    Suite 402 - 1228 Hamilton Street,
    Vancouver, BC, Canada V6B 6L2
    Toll free: 866.285.5817
    Tel.: 604.677.5143
    Fax: 604.677.4702
    Website: http://www.uno.ca