Selkirk Metals Corp.
TSX VENTURE : SLK

Selkirk Metals Corp.

December 07, 2006 09:00 ET

Selkirk Metals Corp.: E-Zone Drilling Returns 12.44m of 11.26% Combined Zinc + Lead, Ruddock Creek Property, B.C.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 7, 2006) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to release the latest drill results from the summer 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").

The final assay results have now been received for drill holes completed in 2006 within the E-Zone. Drill hole 135 is located in the eastern portion, RD-06-142 and 143 in the central portion and RD-06-153 is the westernmost hole drilled to date in the E-Zone. Drill hole RD-06-135 was drilled to facilitate a future resource calculation and continues to highlight the excellent grade and width of the massive sulphide mineralization.

The significant intervals from these holes are shown 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-06-135 236.29 248.73 12.44 9.39 1.87
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219.37 222.23 2.86 5.38 0.78
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RD-06-143 471.8 475.65 3.85 4.3 0.83
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RD-06-153 682.07 685.93 3.86 7.05 1.05
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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 $4.40US/kilo, and lead is $1.65US/kilo


Drilling to date within the E-Zone has defined the Zone continuously along a length of approximately 1.2 kilometers. Of this length, detailed drilling has only been completed within what has been termed the near surface eastern portion of the zone. The deeper western portion in the area of drill holes RD-05-113 and RD-06-152 (13.96% combined over 22.65 meters) has 6 holes within an area of 50 meters by 150 meters. Together these two areas represent approximately two-thirds of the known 1.2 kilometer extent of the E-Zone. Drill holes 139 to 143 were located to confirm the continuity of the mineralization between these areas of more detailed drilling. All of these holes intersected the E-Zone mineralization and, as such, successfully confirmed the continuity of the zone along the entire 1.2 kilometer length. Previously released results from these drill holes include 5.57% combined over 4.89 meters in hole 139 and 8.84% combined zinc and lead over 12.93 meters in drill hole 141. Drill hole 142 intersected a narrower zone of 0.2 meters of 4.51% combined zinc and lead.

While these holes (140 to 143) are very widely spaced over the central portion of the E-Zone, the success of this delineation drilling program adds significantly to the resource potential. These results also increase the overall potential of the Ruddock Creek Sulphide System by confirming the continuity and grade of the massive sulphide mineralization over a significant strike length.

By extension it is not unreasonable to predict similar characteristics for the newly expanded Creek Zone and potentially the other known zones that have been identified but to date not evaluated. As part of the proposed 2007 underground and surface exploration programs, detailed drilling will be ongoing to establish a resource within the E-Zone, extend the Creek Zone in all directions and continue an aggressive program to evaluate all the other zones of massive sulphide mineralization along the 5.5 kilometer length of the Ruddock Creek Sulphide System.

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 holds a 70% interest in the Ruddock Creek Property pursuant to an option agreement with Doublestar Resources Ltd. (TSX VENTURE:DSR).

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