Selkirk Metals Corp.
TSX VENTURE : SLK

Selkirk Metals Corp.

September 04, 2007 09:00 ET

Selkirk Metals Corp.: Drilling Intersects Q Zone at Depth and Expands the Creek Zone; Third Drill Commences Operations-Ruddock Creek Property, British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 4, 2007) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to announce that diamond drilling on the Ruddock Creek Property (the "Property") has confirmed the continuation down dip of the Q Zone and continues to expand the Creek Zone. The 2007 drilling has shown the Creek Zone mineralization continues in all directions from the area outlined by the 2006 drilling program. Two drills have been operating to date and the third diamond drill is set to commence operations. Drilling will continue to expand the area of massive sulphide mineralization known within the "Ruddock Creek Sulphide Horizon" ("Sulphide Horizon") over the known length of in excess of 5 kilometers. This will include drill testing the U Zone, the T-Zone, and the R-Zone and continuing to expand the Q and Creek Zones. Evaluation of the remainder of the massive sulphide zones through surface mapping and sampling will continue.

The confirmation and extension of the Q Zone is a very significant step in defining the potential of the Sulphide Horizon as this zone is located over 5 kilometers west of the E-Zone. The first drill hole completed to evaluate this Zone intersected 3.05 meters of mineralization with varying amounts of massive, semi-massive and disseminated sphalerite (Zn) and galena (Pb). These sulphides are similar in character to the surface showing and the mineralization throughout the Sulphide Horizon. The intersection is approximately 170 meters down dip from the surface showing. Further drilling will serve to extend and better define the attitude of the zone. Previous drill results from the Q Zone included hole Q-5, which intersected 14.5 meters assaying 10.5% Zinc and 1.17% Lead.

To date 9 holes have been completed on the Creek Zone all of which have intersected the zone confirming the down dip and along strike continuity in all directions. In addition several other mineralized intervals have been intersected above the Creek Zone containing typical Ruddock Creek sulphide mineralization. A new surface showing corresponding to one of these upper intervals was uncovered 200 meters northwest of the Creek Zone outcrop. This interval has been encountered in 3 holes to date. Drilling has intersected massive, semi-massive and disseminated sphalerite (Zn) and galena (Pb) similar in character to those intersected in the 2006 drilling program. Results from the 2006 program are included in the following table:



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CREEK ZONE 2006 DRILL RESULTS
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DRILL FROM TO INTERVAL ZINC LEAD
HOLE (m) (m) (m) (%) (%)
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RD-06-144 43.04 49.27 6.23 11.21 2.65
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RD-06-145 43.36 52.75 9.4 7.73 1.74
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RD-06-149 47.62 60.26 12.6 11.26 2.44
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RD-06-154 58.92 67.1 8.2 5.85 1.13
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RD-06-155 91.75 92.48 0.73 9.59 2.65
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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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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 km. These dimensions are similar to the dimensions of the E-Zone that has been the focus of exploration on the Ruddock Creek Property to date. Diamond drilling will continue to expand the Creek Zone towards the T Zones to confirm the indicated continuity of the sulphide horizon.

Procon Mining and Tunneling Ltd. have mobilized their equipment and personnel to the Ruddock Creek Project and are in the process of collaring the portal in preparation for driving the 1,000 meter decline to undercut the deep E Zone mineralization.

Sampling of the drill core is being carried out on an ongoing basis and the results from the 2007 drilling program will be released as they are received and compiled by the Company. 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. As a result of the completion of the acquisition of Doublestar Resources Ltd., Selkirk now has an undivided 100% interest in the Ruddock Creek Property. The Ruddock Creek Property is located 100 km north-northwest of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia.

On Behalf of the Board of Directors of Selkirk Metals Corp.:

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 management of Selkirk and Doublestar 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 the public filings of both Selkirk and Doublestar 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