Darnley Bay Resources Limited
TSX VENTURE : DBL

Darnley Bay Resources Limited

June 12, 2015 09:00 ET

Lac Lessard Project Drilling High-Priority VTEM Targets Completed

TORONTO, ONTARIO--(Marketwired - June 12, 2015) - Darnley Bay Resources Ltd. (TSX VENTURE:DBL) and Eastmain Resources Inc. (TSX:ER) announced the completion of a phase-one drilling program to test highly-prospective VTEM geophysical targets at its Lac Lessard project. The program, funded by Darnley Bay Resources Ltd., as part of its first-year work commitment to an option agreement, whereby DBL can earn 50% of the project, consisted of 11 drill holes (1,995 metres) of heli-supported diamond drilling.

Highlights

  • 10 VTEM targets drill-tested
  • 9 of 11 drill holes intersected the Crete-du-Coq ultramafic intrusion
  • Drill hole LL15-02 intersected disseminated sulphides over 13.8 metres with semi-massive sulphides over 1.8 metres in VTEM target Mx1b
  • Assay data is pending for 728 split-core samples

10 VTEM geophysical targets coincident with the Crete-du-Coq ultramafic intrusion were tested during the drill program. Field work completed during the summer of 2014 delineated a number of areas containing disseminated sulphides, with elevated nickel-copper-PGM values within this layered ultramafic intrusion. Nine of eleven holes drilled intersected layered pyroxenite and gabbro units comprising the Crete-du-Coq intrusion. Moderate to strong rock alteration, consisting of serpentine, talc and magnetite was observed in drill core. Associated disseminated sulphides include pyrrhotite, pyrite and chalcopyrite.

Drill hole LL15-02, which tested VTEM conductor Mx1b, intersected 13.8 metres of disseminated sulphide (1 to 5% pyrrhotite, pyrite, chalcopyrite) within the ultramafic intrusion. This unit includes a 1.8-metre-wide interval ranging from 5 to 20% sulphide at a depth of 101.7 metres. 728 split-core samples have been submitted for assay; results are pending.

Stephen Reford, P.Eng., Chief Technical Officer of DBL, Qualified Person under National Instrument 43-101, reviewed and approved the technical data presented in this press release.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Darnley Bay expects are forward-looking statements. Although Darnley Bay believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Darnley Bay, investors should review registered filings at www.sedar.com.

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.

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