Selkirk Metals Corp.
TSX VENTURE : SLK

Selkirk Metals Corp.

November 17, 2008 07:00 ET

Selkirk Metals Corp.: Underground Channel Sample Results, Ruddock Creek Project, B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2008) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to announce that it has received analytical results from the underground decline sampling completed earlier this year. The Ruddock Creek Property is located 100 km north-northwest of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia.

The E-Zone massive sulphide mineralization consisting of sphalerite, galena, pyrite and pyrrhotite was intersected by the decline from 956m to 978m from the portal with the E-Zone dipping to the North at an angle steeper than the -15% decline. The decline crossed only 22 meters into the E-Zone mineralization. The weighted average of the channel samples collected at 2.0m spacing at right angles to the mineralized horizon including waste pegmatite and calc-silicate averaged:

9.83% zinc, 2.00% lead over a width of 4.8m (height of the decline)

The mineralization is still evident in the back and floor of the decline. The individual channel samples assayed up to 15.64% zinc, 3.04% lead and 6.0g/t silver over a width of 2.8 meters. Surface and recent underground diamond drilling have confirmed the geological model and interpretation that shows that the decline just entered the footwall of the E-Zone and was well short of intersecting the entire width of the Zone. The E-Zone consists of a stratigraphic section up to 30 to 40 meters thick, which includes intervals of high grade massive sulphide up to 15 meters thick intermixed with pegmatite and calc silicates. The decline was targeted to intersect the E-Zone immediately adjacent to surface drill holes RD-05-113 and 152. The target massive sulphide interval; in RD-05-113 and RD-06-152 as tabulated below, are near the top or hanging wall of the E-Zone. To intersect these thick massive sulphide sections the decline would have to have continued for another 60 meters.



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FROM TO INTERVAL ZINC LEAD
HOLE NUMBER (m) (m) (m) % %
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E-Zone
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RD-05-113 708.5 722.55 14.05 15.79 3.33
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RD-06-152 648.84 671.40 22.56 11.70 2.27
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The intersection of the E-Zone by the decline met one of the major goals of the underground development program. It has allowed for the collection of a bulk sample for ongoing metallurgy, engineering and detailed geological mapping of the Zone for the first time. The results of the recently completed underground diamond drilling will provide the additional information necessary to complete the interpretation, compilation and resource calculations that were the goal of the underground program.

Operations on the Ruddock Creek Property are being conducted under the supervision of the Company's Qualified Person (as defined by NI 43-101), Jim Miller-Tait, P.Geo., Vice President of Exploration.

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 or Toll Free: 1-888-807-4526
    (604) 687-3141 (FAX)
    Website: www.selkirkmetals.com