Knight Resources Ltd.

Knight Resources Ltd.

November 02, 2005 16:00 ET

Knight Resources Ltd.: West Raglan 2005 Program Results and Plans for 2006

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 2, 2005) - Mr. Harvey Keats, President of Knight Resources Ltd. (TSX VENTURE:KNP)(FWB:KRL), reports the results for the 2005 program on the West Raglan Project. A total of 4,771.3 metres of BQ diamond drilling in 29 holes were drilled in the 2005 program. A total of 4,275.8 metres in 26 holes were drilled in the Raglan Formation of the Chukotat Group in the Greater Frontier, CDC, Beverly and Nanuk areas and a total of 495.5 metres in 3 holes were drilled in the Povungnituk Group in the southeast portion of the property.

Results of the 2005 program have refocused attention on the Greater Frontier Area where the majority of significant assay results over the last three years have been returned from diamond drilling and boulder sampling. A detailed 2006 exploration program will be designed when all of the project data have been interpreted. However, a preliminary 2006 budget of $3,000,000 in phase I and, subject to the results of phase I, tentatively $2,000,000 in phase II has been agreed to by Knight and Anglo American Exploration (Canada) Limited ('AAEC'). During 2005, the Company earned a 49% interest in the West Raglan Project from AAEC and accordingly the Company will be funding 49% of the 2006 program.

Highlights of the 2005 diamond drill program are outlined in the table below.

Hole Core Length Nickel Copper Platinum Palladium
Area Number (metres) % % g/t g/t
Frontier WR-05-98 12.90 0.67 0.39 0.12 0.46
including 1.00 1.75 0.53 0.26 1.11
Frontier WR-05-100 2.65 0.44 0.17 0.06 0.24
1.55 0.49 0.14 0.06 0.22
1.60 0.85 0.31 0.12 0.45
7.80 2.16 0.68 0.31 1.22
0.90 1.27 1.93 0.22 0.72
1.40 3.37 0.93 0.48 1.71
0.55 0.26 3.16 0.01 0.02
Frontier WR-05-103 0.90 0.81 0.29 0.11 0.51
4.30 0.53 0.20 0.09 0.36
including 1.30 0.80 0.31 0.13 0.60

Attached to this news release is an assay table (Table I) with details of the 2005 program holes (WR-05-79 to WR-05-107) and an assay table (Table II) with results of a boulder in the Povungnituk Group in the southeast portion of the property and the results of boulders from a new boulder field in the southern part of the Greater Frontier area.

To view the attached Table I and Table II, please click on the following link:

Greater Frontier Area

In 2005, 1,473.8 metres in 8 holes were drilled in the Greater Frontier area.

WR-05-96, 98 and 103 were drilled in the area at the head of a boulder train outlined in 2004, between Frontier East and Frontier Central. WR-05-96 did not intersect any sulphides in ultramafics. WR-05-98 intersected 12.90 metres of 6% disseminated and bleby sulphides in ultramafic which averaged 0.67% nickel, including a 1.00 metre interval of 9% sulphides which assayed 1.75% nickel. Follow-up hole WR-05-103 intersected 0.81% nickel over 0.90 metres in 6% sulphides and 0.53% nickel over 4.30 metres of 4% sulphides including 0.80% nickel over 1.30 metres of 5% sulphides, all in ultramafic. Since down-hole geophysics was not possible in WR-05-98 and 103, it is unknown if the weak mineralization intersected is related to a zone of more intense mineralization. Follow-up drilling will be required in 2006.

WR-05-100 was drilled to follow up an off-hole conductor in WR-04-69, west of Frontier South. The hole intersected multiple mineralized zones in ultramafic and a remobilized mineralized zone in basalts in the footwall. The best assays in the hole were 2.16% nickel over 7.80 metres in 21% sulphides and 3.37% nickel over 1.40 metres in 34% sulphides. The remobilized sulphide in basalt assayed 0.26% nickel and 3.16% copper over 0.55 metres. This new zone which has been named Century, will require follow-up drilling in 2006.

WR-05-97 at Seahawk, WR-05-99 and 102 at Frontier Central and WR-05-101, south of Frontier South did not intersect significant magmatic sulphides.


Three holes totalling 495.5 metres were drilled in a small area of the Povungnituk Group in the southeast portion of the property. WR-05-79, 80 and 81 did not intersect significant magmatic sulphides.


The Beverly area is located approximately 27 kilometres east of Frontier. Three holes totalling 391.0 metres were drilled over a strike length of 9.4 kilometres of the Raglan Formation at Beverly. WR-05-82, 83 and 84 did not intersect significant magmatic sulphides.


The CDC area is located approximately 14 kilometres east of Frontier. Ten holes totalling 1,690 metres were drilled over a strike length of 7.4 kilometres of the Raglan Formation at CDC. WR-05-85, 86, 87, 88, 89, 90, 104, 105, 106 and 107 did not intersect any magmatic sulphides of significant grade.


The Nanuk area is located approximately 20 kilometres west of Frontier. Five holes totalling 721 metres were drilled over a strike length of 650 metres of the Raglan Formation at Nanuk. WR-05-91, 92, 93, 94 and 95 did not intersect significant magmatic sulphides.

Sulphide Boulders

A massive sulphide boulder was found in 2005 near the southern property boundary in the Povungnituk. A sample from the boulder assayed 2.54% nickel, 0.35% copper, 0.25% cobalt, 1.07 grams per tonne platinum and 1.09 grams per tonne palladium. The source of the boulder is unknown, however its discovery led to the staking of 240 additional claims totalling approximately 9,940 hectares along the south boundary of the property over magnetic anomalies interpreted to be ultramafic rocks.

Three new sulphide boulders were found approximately 300 metres south of the Century zone intersected by WR-05-100. One boulder assayed 1.46% nickel in 15% sulphides, a second boulder assayed 2.11% nickel in 23% sulphide and third boulder assayed 1.72% nickel in 23% sulphide. The source of the boulders is unknown.

Supplementary Information

The 2005 field program was carried out by West Raglan Project operator Anglo American Exploration (Canada) Limited (AAEC). AAEC is the operator of the West Raglan Project and is responsible for the sampling and submittal of samples for assay. Assaying of 2005 samples reported in this news release was carried out and certified by ALS Chemex, of Vancouver, BC (nickel, copper, cobalt and sulphur (Total) by sodium peroxide fusion followed by ICP-AES) (Pb-FA for platinum, palladium and gold). Sample preparation was done by ALS Chemex of Val'or, Quebec. Kerry Sparkes of the Company is the Qualified Person responsible for the technical information in this news release.


Harvey Keats, President

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

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