New Nadina Explorations Limited
TSX VENTURE : NNA

New Nadina Explorations Limited

December 21, 2011 17:58 ET

New Nadina Explorations Limited: Itsit Porphyry-248m of 0.435% and 258m of 0.384% Copper Equivalent, Including 11m of 0.678%

GREENWOOD, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2011) - New Nadina Explorations Limited (TSX VENTURE:NNA) reports discovery drill hole assays on the copper-molybdenum-gold porphyry Itsit deposit (Titan Target B) at the 100% owned Silver Queen property, south of Houston, BC.

During September and October, thirteen holes (4,490.2 m) were drilled, six (1,723.5m) into Target A and seven (2,766.7m) were directed at Titan Target B. Titan A target was interpreted to be a potential vein type system of the Silver Queen type. Diamond drilling failed to intersect a likely source for this anomaly. Refer NR Dec 16/11.

Target B, a conductive zone with an associated high chargeability, located to the southeast of the Silver Queen No3 Vein system, was proven to be a copper-molybdenum and gold deposit where mineralization is contained within a stockwork zone within quartz-feldspar porphyry. Three of the seven holes, were successful in intersecting encouraging grade. Drill footage fell short of the originally planned 10,000 meters as drilling difficulties were encountered due to a clay and water-bearing fault zone located directly above the mineralized zone. Drilling difficulties were overcome in the later holes by drilling down to the mineralized zone with HQ rods and then reducing to NQ once the rock was competent. The HQ rods thereby serve as casing for the NQ string and allow drilling to continue without hindrance from the constricting clay zone.

A section map illustrating the results is available on the Company website: www.nadina.com

Silver Queen 2011 Diamond Drilling, ITSIT Deposit, Target B
HOLE ID EAST NORTH ELEV (m) LENGTH (m) Azimuth (UTM) DIP
11S-01 650423 5994603 865.5 572 90 -80
11S-03 650423 5994603 865.5 288 270 -70
11S-06 650276 5994741 858 361.5 86.5 -73.3
11S-09 650229 5994737 861.5 189.2 280 -80
11S-10 650141 5994606 849 72 268 -68.5
11S-12 650177 5994806 876 507 85 -75
11S-13 650180 5994662 853 777 82 -76.5
Total: 2,766.7

Results from Target B holes are presented in summary form below:

Assay Summaries, ITSIT Deposit, Target B
11S-01
From (m) To (m) Length (m) Au (g/t) Cu (%) Mo (%) Cu Equiv (%)
248 263 15 0.034 0.216 0.011 0.284
263 312.2 49.2 0.019 0.066 0.0015 0.085
321.17 512 190.83 0.029 0.121 0.0020 0.149
512 536.53 24.53 0.051 0.219 0.0026 0.265
549.65 572 EOH 22.35 0.025 0.116 0.0046 0.152
11S-03 Rods stuck - lost hole at 288m – Hole bottomed in mineralization
From (m) To (m) Length (m) Au (g/t) Cu (%) Mo (%) Cu Equiv (%)
208.4 288 79.6 0.123 0.230 0.0010 0.321
including:
208.4 219 10.6 0.114 0.210 0.0010 0.294
219 234 15 0.076 0.162 0.0019 0.223
234 252 18 0.128 0.212 0.0005 0.304
252 264 12 0.198 0.321 0.0010 0.464
264 276.55 12.55 0.114 0.292 0.0009 0.376
276.55 280.3 3.75 0.008 0.002 0.0003 0.009
280.3 288 EOH 7.7 0.174 0.306 0.0011 0.432
11S-06 Hole stopped at 361.7m due to squeezing clay – encountered strong mineralization
From (m) To (m) Length (m) Au (g/t) Cu (%) Mo (%) Cu Equiv (%)
112.79 361.7 248.91 0.12 0.197 0.041 0.435
including:
112.79 135 22.21 0.06 0.123 0.026 0.263
135 147 12 0.08 0.202 0.051 0.454
147 168 21 0.10 0.204 0.041 0.435
168 180 12 0.06 0.106 0.024 0.240
180 195 15 0.06 0.160 0.033 0.332
195 228 33 0.06 0.134 0.056 0.394
228 243 15 0.32 0.222 0.041 0.606
243 255 12 0.10 0.193 0.024 0.354
255 267 12 0.14 0.195 0.031 0.415
267 279.7 12.7 0.11 0.164 0.024 0.333
279.7 291 11.3 0.16 0.247 0.082 0.678
291 312 21 0.13 0.261 0.028 0.461
312 336 24 0.14 0.254 0.041 0.510
336 354 18 0.14 0.260 0.060 0.590
354 361.7 EOH 7.7 0.14 0.300 0.040 0.552
11S-09
From (m) To (m) Length (m) Au (g/t) Cu (%) Mo (%) Cu Equiv (%)
98.1 172 73.9 0.028 0.010 0.007 0.054
including:
120 141 21 0.040 0.013 0.011 0.085
11S-10 abandoned at 72m due to excessive water flow. No significant values.
11S-12
From (m) To (m) Length (m) Au (g/t) Cu (%) Mo (%) Cu Equiv (%)
300.65 307.45 6.8 0.335 0.011 0.002 0.254
407.65 408.8 1.15 0.14 0.163 0.014 0.315
11S-13 Cored 693m of near continuous mineralization – open to depth
From (m) To (m) Length (m) Au (g/t) Cu (%) Mo (%) Cu Equiv (%)
84.35 330.55 246.2 0.054 0.099 0.016 0.208
including:
84.35 120 35.65 0.081 0.028 0.010 0.123
120 162 42 0.031 0.076 0.016 0.160
162 216 54 0.046 0.125 0.038 0.301
216 256.1 40.1 0.067 0.142 0.015 0.245
256.1 283.35 27.25 0.051 0.043 0.0013 0.084
283.35 330.55 47.2 0.055 0.137 0.019 0.249
340.9 508.8 167.9 0.038 0.0978 0.005 0.143
including:
340.9 354 13.1 0.029 0.124 0.036 0.282
354 388.55 34.55 0.040 0.046 0.0008 0.077
388.55 498 109.45 0.040 0.100 0.0004 0.130
498 508.8 10.8 0.026 0.207 0.025 0.321
519 777 258 0.035 0.196 0.043 0.384
including:
519 564 45 0.053 0.189 0.044 0.395
564 585 21 0.050 0.255 0.051 0.485
585 645 60 0.041 0.233 0.039 0.412
645 669 24 0.025 0.164 0.042 0.341
669 684 15 0.022 0.152 0.029 0.280
684 696 12 0.025 0.200 0.033 0.343
696 720 24 0.020 0.169 0.059 0.409
720 732 12 0.013 0.135 0.027 0.250
732 756 24 0.027 0.215 0.045 0.406
756 777 21 0.026 0.159 0.045 0.351

Copper equivalent values are provided for comparison purposes only, and do not take into account differences in metal recoveries or smelter charges, or price changes or other factors which could affect the actual value of the mineralized material. Copper equivalent values stated here are based on the following prices, current as of December 9, 2011:
Au: $55.00 USD/g Cu: $7.80 USD/kg Mo: $30.00 USD/kg

Hole 11S-01 entered the mineralized zone at a depth of 248 meters bottoming in mineralization at 572 meters. The core was weakly to moderately mineralized with the best values seen in the lower part of the hole.

Hole 11S-03 passed out of the fault zone at a depth of 208.4 meters and continued to 288 meters, at which point the hole was lost due to seizing of the rods by the squeezing clay layer above. The hole bottomed in mineralization. Prior to end of hole, visual increase in mineralization was seen as confirmed later by assay data. Every attempt was made to continue the hole and rods were lost.

Hole 11S-06 encountered strong mineralization at 112.79 meters which was continuous throughout the remainder of the hole. The hole was stopped in mineralized stockwork at 361.7 meters due to constriction of the rods before reaching target depth. The 248.91m averaging 0.435% copper equivalent is highly encouraging as the deeper grades showed increased values. The fault zone causing the drill problems has been mapped and future drill holes to test this section of the anomaly can be drilled entirely beneath the shallow dipping fault by situating holes to the west of its surface trace, therefore avoiding the obstacles encountered in these initial discovery holes.

Holes 11S-09 and 11S-10 passed through the fault zone but did not encounter the mineralized quartz-feldspar porphyry body. Both holes were abandoned before their intended depth due to difficult drilling conditions.

Hole 11S-12 passed out of the fault zone at 32.2 meters but did not encounter the quartz-feldspar porphyry. The hole was drilled to 507 meters and returned only occasional narrow intervals of mineralization.

Drill hole 11S-13 encountered the mineralized zone at a depth of 84.35 meters and cored 693 meters of nearly continuous mineralization to a depth of 777 meters, where it was stopped while still within strong mineralization. The hole was ended on the drill contract expiry date and the casing remains intact and capped for re-entry for deepening and conducting down hole geophysics.

The Itsit deposit lies within a geophysical anomaly that extends 950 meters north-south and is open to the north and south of the Titan24 survey grid. The depth extent of the deposit is also unknown as the geophysical data limits do not close off the anomaly at depth. Further geophysics followed by a large drill program will be necessary to obtain a better understanding of the size potential.

We are pleased with the three holes that encountered good mineralization. A new deposit with potential for a large ore body has been found. Information gathered this year will guide further advancement in 2012. We see good mineralization, the anomaly size can be increased and geophysics indicates potentially higher grade areas within the deposit. Mapping and use of appropriate equipment will help to overcome the drilling problems. The property is fully accessible year round and located within an area supportive to the mining community.

Rob Hearst, P.Geo., at Quantec Geoscience Ltd. comments, "Titan 24 is a high powered, state-of-the-art, deep penetrating, direct current resistivity, induced polarization and magnetotelluric ground based survey system operated by Quantec Geoscience Ltd. of Toronto, Ontario. In the application of the system to the Silver Queen property, after inversion depths for the direct current resistivity and induced polarization of over 550m and depths with the magnetotellurics of over 1500m were obtained."

Interpretation of geophysical data at the Silver Queen project is ongoing at the Advanced Geophysical Interpretation Centre of Mira Geoscience in Vancouver, BC. The ZTEM, aeromagnetic, and Titan24 data will be used in conjunction with the ongoing programs at the Silver Queen project. Geophysical data referenced in this press release has been reviewed by Peter Kowalczyk P.Geo., a qualified person within the terms of NI 43-101 standards.

This news release has been reviewed by Jim Hutter, P.Geo., the Qualified Person on the Silver Queen project, as defined by National Instrument 43-101, who approves the applicable content of this release.

ON BEHALF OF THE BOARD

Ellen Clements, President and Chief Executive Officer

"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