First Pursuit Ventures Ltd.
TSX VENTURE : FPV

February 09, 2010 11:04 ET

First Pursuit Drills Copper and Gold at La Tuna, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

First Pursuit Ventures Ltd. (TSX VENTURE:FPV) (the "Company") is pleased to report on initial drilling results from its La Tuna copper-gold property (the "Property") located 50 kilometers northeast of Obregon in Sonora, Mexico.

In November 2009, the Company performed an initial round of reverse circulation drilling to test the exposed mineralization and coincident IP geophysical anomaly. A total of 1349 meters was drilled in 18 holes. Table 1 lists the locations of the drill holes.

All of the holes intersected altered and mineralized zones in intrusive rocks, with the best intercept being 240 ft (73.2m) grading 0.10% Cu and 0.42 grams per ton Au. Individual drill samples returned values ranging up to 3.52% copper and 9.79 grams per tonne gold. Silver values were also elevated (ranging up to 44.7 grams per tonne). Sulphur values range up to 8.7% and correlate with total sulphide content. Table 2 lists the significant intercepts.



Table 1. Location and Orientations of 2009 drill holes

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Length Length Inclin-
Hole East North Elev (ft) (m) Azimuth ation
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09LT-1 624942 3085119 252.612 200.000 60.96 210 -70
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09LT-2 624835 3085346 251.288 205.000 62.48 85 -46
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09LT-3 624865 3085287 254.786 295.000 89.92 245 -48
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09LT-4 624881 3085473 217.581 255.000 77.72 0 -90
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09LT-5 624950 3085588 225.303 295.000 89.92 0 -90
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09LT-6 624937 3085375 231.626 235.000 71.63 218 -60
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09LT-7 624996 3085478 225.650 240.000 73.15 70 -70
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09LT-8 624996 3085478 225.827 370.000 112.78 70 -44
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09LT-9 625015 3085534 227.755 185.000 56.39 90 -70
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09LT-10 625004 3085474 225.138 410.000 124.97 100 -48
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09LT-11 625047 3085478 235.785 375.000 114.30 70 -68
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09LT-12 624928 3085431 232.156 125.000 38.10 88 -59
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09LT-13 624928 3085431 232.280 190.000 57.91 60 -50
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09LT-14 624996 3085420 231.653 335.000 102.11 71 -70
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09LT-15 624972 3085418 231.758 220.000 67.06 100 -55
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09LT-16 625016 3085699 197.679 160.000 48.77 214 -54.5
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09LT-17 625025 3085696 197.555 200.000 60.96 125 -50.5
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09LT-18 624686 3085786 183.938 130.000 39.62 120 -58
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Table 2. Significant Intercepts

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From To Interval Interval
Hole (ft) (ft) (ft) (m) Cu% Au ppm Ag ppm
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09LT-1 0 10 10 3.0 0.11 0.04 3.3
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09LT-2 20 65 45 13.7 0.17 0.02 3.0
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09LT-2 95 110 15 4.6 0.43 0.24 16.6
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09LT-3 0 55 55 16.8 0.24 0.02 9.3
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09LT-4 0 25 25 7.6 0.11 0.01 1.5
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09LT-6 5 50 45 13.7 0.24 0.03 5.3
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09LT-7 70 150 80 24.4 0.14 0.18 5.4
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09LT-8 115 255 140 42.7 0.40 0.34 9.0
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09LT-9 50 80 30 9.1 0.09 0.22 2.3
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09LT-10 115 355 240 73.2 0.10 0.42 5.5
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09LT-11 255 345 90 27.4 0.17 0.37 5.6
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09LT-12 10 80 70 21.3 0.28 0.51 3.8
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09LT-13 15 40 25 7.6 0.22 0.62 5.8
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09LT-13 70 130 60 18.3 0.34 0.52 8.5
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09LT-14 35 250 215 65.5 0.13 0.06 2.4
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09LT-15 35 190 155 47.2 0.21 0.16 5.1
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09LT-17 55 75 20 6.1 0.30 0.01 5.4
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The Company considers the results highly significant but also cautions that they are preliminary in nature and not conclusive evidence of the likelihood of the occurrence of an economic mineral deposit.

The samples were analyzed at ALS Chemex in North Vancouver by Fire Assay for gold and either AA or ICP techniques for silver and base metals. QA/QC procedures included the insertion of blanks and standards in the sample stream. Initial results showed slightly lower than accepted values for some of the standard analyses, particularly where analyzed by the AA method. Pertinent samples and standards were re-analyzed to check the initial analytical results. Final accepted values are the average of the initial and re-run analyses.

Mineralization at La Tuna consists of veins, stockworks and breccias containing disseminated pyrite and chalcopyrite, with local galena and sphalerite. The mineralization is hosted within a Laramide-age diorite to quartz-diorite intrusive complex cross-cut by diabase dikes and locally by granite, quartz porphyry, aplite and dacite. Associated alteration includes widespread propylitic chlorite-epidote-magnetite, with zones of phyllic quartz-sericite-pyrite. The strongest mineralization observed to date occurs within phyllic altered dacitic rocks. The mineralization outcrops within a kilometer square area but gradually becomes stronger to the east where it extends beneath a cap of Tertiary volcanic rocks of the Sierra Madre belt.

The exploration target is an open pit, multi-element copper-gold-silver deposit.

Reconnaissance prospecting has also located more mineral occurrences on the La Tuna property that have yet to be mapped and sampled. The Company is also actively engaged in property examinations in northwestern Mexico to identify additional properties of merit.

Dr. Matt Ball, P.Geo. is the Qualified Person who prepared the technical information contained in this news release.

ON BEHALF OF FIRST PURSUIT VENTURES LTD.

Terry Fields, President and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • First Pursuit Ventures Ltd.
    Investor Relations
    604-682-2928
    604-685-6905 (FAX)