Selkirk Metals Corp.
TSX VENTURE : SLK

Selkirk Metals Corp.

January 08, 2007 09:00 ET

Selkirk Metals Corp.: Creek Zone Drilling Returns 10.64 Meters of 16.13% Combined Zinc + Lead, Ruddock Creek Property, B.C.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 8, 2007) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to release the latest drill results from the 2006 drilling program on the Ruddock Creek Property, which is located 100 km north of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia (the "Property").

Assay results have now been received from the final drill holes RD-06-149, 156 to 160 from the Creek Zone. All of the holes intersected the target massive sulphide mineralization between 50 and 100 meters down dip from the 2 meters wide surface showing, which assayed 22.5% Zinc and 6.2% Lead as reported in the Company's News Release dated November 9, 2006. The significant results are summarized in the following table.



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FROM TO INTERVAL (i) (i)
HOLE NUMBER (m) (m) (m) ZINC% LEAD%
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RD-06-149 47.62 58.26 10.64 13.26 2.87
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RD-06-156 72.74 73.49 0.75 12.88 3.17
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RD-06-157 74.0 80.12 6.12 7.08 1.55
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RD-06-158 63.42 71.83 8.41 6.07 1.82
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RD-06-159 51.93 61.92 9.99 4.51 1.07
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RD-06-160 55.34 60.47 5.13 21.27 4.61
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(i) For reference each 1% of grade equals 10 kilos of metal per
metric tonne of ore.
The current zinc price is $4150US/kilo, and lead is $1.70US/kilo.


Drill holes RD-06-144, 145, 149, 154 through 160 were completed from a single setup above the surface outcrop and have extended the mineralization approximately 100 metres down dip and along strike. The Creek Zone is located approximately 900m west of RD-06-152, which intersected 22.6 m of 13.97% combined Zinc + Lead (See News Release dated November 23, 2006), and is approximately 1.9 kilometers west of the outcrop of E-Zone mineralization where exploration began.

The results from holes 149 and 159 confirm that the Creek Zone contains similar grades and thicknesses as the E-Zone, and the intersection in 160, which intersected the mineralization at the deepest point, confirms the continuity to depth. All 10 holes intersected massive sulphide, and have defined the zone down dip to the north for a minimum 100 meters and along strike to the east and west for 100 meters. The zone remains open down dip and along strike.

The Creek Zone forms part of a series of massive sulphide showings exposed at surface, which include the Lower and Upper T Zones. In total these zones, which exhibit similar characteristics, indicate a continuous sulphide horizon with a strike length of over 1 kilometer and a down dip depth potential of at least 500 meters. These dimensions are similar to the dimensions of the E-Zone that has been the focus on exploration on the Ruddock Creek Property to date. The following table summarizes the historical results from a shallow pack sack drilling program on the T-Zone:



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ZONE HOLE # INTERVAL ZINC% LEAD%
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T Zone 77-6 4.1 m 9.80 1.60
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T-2 5.0 m 12.05 2.45
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T-3 7.3 m 10.6 2.24
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The E-Zone, Creek Zone and T Zones all form part of the Ruddock Creek Sulphide System that is defined by at least 12 known zones of zinc and lead bearing massive sulphide mineralization. These occur as surface showings or are known from diamond drilling over a strike length of greater than 5 kilometers. Future exploration programs will continue to define and expand these showings in addition to defining a resource within the E-Zone and Creek Zones. This work forms part of the planned scoping study which would be a precursor to a production decision.

Exploration on the Ruddock Creek Property is being conducted under the supervision of the Company's Qualified Person (as defined by NI 43-101), Jim Chapman, P.Geo. All samples were analysed by Acme Analytical Laboratories in Vancouver utilizing the Group 7AR methodology.

Selkirk, through its wholly owned subsidiary, Selkirk Metals Holdings Corp., holds an undivided 70% interest in the Ruddock Creek Property pursuant to the recently completed option agreement with Doublestar Resources Ltd. (TSX VENTURE:DSR) and is the Operator of the Ruddock Creek Joint Venture.

On Behalf of the Board of Directors:

Gordon Keevil, President

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

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

Contact Information

  • Selkirk Metals Corp.
    Gordon Keevil
    President
    (604) 687-2038
    (604) 687-3141 (FAX)
    Website: www.selkirkmetals.com