Selkirk Metals Corp.
TSX VENTURE : SLK

Selkirk Metals Corp.

November 14, 2007 09:00 ET

Selkirk Metals Corp.: Drilling Significantly Expands Creek Zone and Extends Q Zone at Depth, Ruddock Creek Property, B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2007) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to announce additional diamond drilling results from the Creek Zone and Q Zone. The Creek Zone is located immediately east of the E-Zone and the Q Zone is the most westerly zone in the Oliver Creek Valley. These two Zones combine with ten other zones of high grade Zinc-Lead mineralization to form the 5.5km long Ruddock Creek Sulphide Horizon. This horizon is a near continuous zone of massive to semi massive sulphide mineralization as shown on the Overview Figure on the Company's website, www.selkirkmetals.com.

Creek Zone Drill Results

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 600 meters. Previous drill programs have shown the mineralized horizons at Ruddock Creek to be continuous and predictable, irrespective of the thickness of sulphides encountered in individual holes.

The 2007 drill program was designed to confirm the continuity of the Creek Zone laterally and at depth. To achieve this goal in the limited time available for surface drilling in this area, the program consisted of a series of widely spaced holes with an average spacing of greater than 80m. The results to date are extremely encouraging as they confirm the continuity of the Creek Zone, which was intersected in all but one hole. The expanded Creek Zone sulphide horizon now covers an area of 500m by 600m and remains open in all directions. The Zone is immediately east of the E-Zone where underground development for resource definition drilling and engineering is now underway.

The following table contains the latest results from the Creek Zone.



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FROM TO INTERVAL
HOLE NUMBER (m) (m) (m) ZINC% LEAD%
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Creek Zone
RD-07-165 325.87 326.23 0.36 17.55 4.0
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RD-07-166 Pending
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RD-07-167 Pending
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RD-07-168 121.82 125.28 3.46 4.87 0.49
277.38 280.36 2.98 3.44 0.82
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RD-07-169 124.7 127.65 2.95 2.73 0.62
301.78 304.67 2.89 2.16 0.50
311.12 320.76 9.64 2.31 0.52
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RD-07-170 173.73 178.36 4.63 1.8 0.18
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Drilling in 2006 was designed to evaluate the potential of the massive sulphide mineralization identified at surface as the Creek Zone showing. The 2007 drilling has expanded that horizon and shown it to be a portion of the same horizon that contains the Lower T showing. The following table summarizes the significant results from the 2006 drill program and the previously released 2007 results on the Creek Zone:



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CREEK ZONE 2006 DRILL RESULTS
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FROM TO INTERVAL ZINC LEAD
DRILL NUMBER (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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RD-07-161 149.37 153.55 4.18 17.18 3.87
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RD-07-162 174.5 179.16 4.66 8.16 1.89
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RD-07-163 316.0 325.05 9.05 6.24 1.37
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RD-07-164 199.49 201.83 2.34 5.60 1.29
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- For reference each 1% grade equals 22 pounds of metal per metric
tonne of ore


Of particular interest is the discovery of multiple mineralized horizons in the northern portion of the Creek Zone, with the main horizon being present in all but one of the holes drilled. The zinc-lead rich sulphide mineralization ranges up to 14.2m in thickness, and up to four discrete horizons are locally present. The presence of multiple mineralized zones within the stratigraphy is similar to that encountered in the U Zone, which is located a further 1.2km west of the Creek Zone along the "Ruddock Creek Sulphide Horizon". Attitudes and elevation of the mineralization within these two zones indicates that they may form part of a continuous horizon that will be confirmed by ongoing diamond drilling as exploration of the Ruddock Creek Property continues. The presence of multiple horizons within the Creek and U zone areas may indicate proximity to the original source area of the sulphide bearing solutions.

Drilling on the Creek Zone has shown the mineralization encountered in this area to have the same style and character as the E Zone. Previous work has defined the E Zone mineralization as an extensive sheet of base metal rich massive to disseminated sulphide mineralization, covering an area at least 1100m long by 400m in width and up to 30m in thickness. It is uncertain at this time whether the Creek Zone is a continuation of the E Zone, or a separate mineralized horizon. The similarities are such that the 2007 drill program was intended to indicate the potential extent of the horizon and not to drill the area in detail. At this time, the Creek Zone remains open at depth in all directions. In order to define the resource potential and in turn plan for further development of the Creek Zone close spaced definition drilling either from surface of underground will be required. This will allow for the delineation of thicker lenses of mineralization that will be the focus during initial development.

6.18% Zinc and 1.36% Lead over 5.32 meters Extends Q Zone

The Q Zone, which is located in the Oliver Creek Valley, is the most westerly of the known zones along the Ruddock Creek Sulphide Horizon, being approximately 4 kilometers to the west of the E-Zone and 2 kilometers west of the newly discovered U Zone. Due to limited drill site locations, only very wide spaced drilling was possible. Furthermore very difficult drilling conditions limited the effectiveness of the drill program with 2 of 5 holes being abandoned. Of those completed, drill hole RD-Q-2 intersected the Zone approximately 170 meters down dip from the surface showing. The intercept assayed 6.18% Zinc and 1.36% Lead over a width of 5.32 meters. This long down dip extension has served to confirm that the Q Zone is a substantial target warranting further drilling. Once the final results of the 2007 surface exploration program have been received a follow up drill program will be planned to test this section of the Ruddock Creek Sulphide Horizon that is thought to include the newly discovered U Zone, the V Zone and the Q Zone.

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., Acme Analytical Laboratories Ltd., was engaged to carry out the analytical work on all samples. The analytical procedure utilized was the Group 7AR 23 multi-element assay by ICP-AES methods. 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 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 Selkirk 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