Starfire Minerals Inc.
TSX VENTURE : SFR

Starfire Minerals Inc.

November 26, 2007 12:57 ET

Starfire Reports Intersection of 63 Meters of 0.781 Grams Gold (1.052 Grams Equivalent (1,2)) Per Tonne at Porphyry Pearl

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - Starfire Minerals Inc. (TSX VENTURE:SFR) is pleased to report analytical results for samples received from drilling at its Porphyry Pearl copper-gold project in the Toodoggone Mining District of Northern British Columbia (see previous release of November 12, 2007). The drill program was carried out by Arnex Resources Ltd. as Operator for Starfire.

Of most significance is hole PP07-06, an inclined hole which intersected continuously mineralized monzonite from the overburden-bedrock interface at a depth of 18 meters to the bottom of the hole at 166 meters. This 148-meter interval averages 0.383 g/t gold, 0.03% copper, and 0.06% zinc (or 0.528 g/t equivalent gold) and includes significant intervals of higher grades (see Table 1). Drilling of this hole was interrupted by winter conditions and, as it was stopped in mineralized monzonite, its completion will be the first priority of the 2008 drill campaign.

Hole PP07-05, a vertical hole collared at the same location as PP07-06, intersected 112.56 meters from 48.78 to 161.34 meters averaging 0.419 g/t gold, 0.05% copper and 0.05% zinc (0.554 g/t equivalent gold). Included within this interval is a zone of highly silicified and brecciated rock (termed "the rubble zone") from 48.78 to 136.74 meters from which core recovery is estimated to average 61%. Analytical results for the samples from this 88-meter zone average 0.420 grams gold per tonne and 0.05% copper, and 0.05% zinc (0.549 g/t equivalent gold), but because of the sub-optimum recovery, the average is considered an approximation of the tenor of the interval. However, immediately below the "rubble zone", core recovery was essentially 100% and the hole intersected 24.6 meters from 136.74 to 161.34 meters averaging 0.418 grams gold per tonne, 0.07% copper, and 0.04% zinc (0.569 g/t equivalent gold). Management is encouraged by these results and the Operator has investigated a method to improve recovery in future drilling of the "rubble zone" interval.

Hole PP07-02 intersected two mineralized zones of significance, including 19 meters averaging 0.543 g/t gold, 0.03% copper, and 0.28% zinc (0.847 g/t gold equivalent) at a depth of 338 meters down hole.

The long intersections of gold grades that approximate that at Northgate Minerals Ltd.'s (NGX.TO) Kemess South Deposit, located 60 kilometers to the south-southeast of the Porphyry Pearl property are particularly encouraging, and reinforce the hypothesis that a copper-gold porphyry deposit is situated on the Porphyry Pearl property.

Table 1 - Porphyry Pearl Drill Sample Results



Equiva-
lent
Au Au
(g/t) (g/t)
Hole From To Length (1) Cu % Zn % (2) Remarks

PP07-01 awaiting analyses

PP07-02 194.50 215.00 20.50 0.380 0.04 0.13 0.564
328.00 357.00 29.00 0.417 0.03 0.27 0.709
including 338.00 357.00 19.00 0.543 0.03 0.28 0.847

PP07-03 awaiting analyses

PP07-04 not yet sampled

PP07-05 48.78 161.34 112.56 0.419 0.05 0.05 0.554 69% recovery
including 48.78 136.74 87.96 0.420 0.05 0.05 0.549 61% recovery
and 136.74 161.34 24.60 0.418 0.07 0.04 0.569 100% recovery

PP07-06 17.98 166.00 148.02 0.383 0.03 0.06 0.528
including 80.71 166.00 85.29 0.629 0.05 0.08 0.849
including 103.02 166.00 62.98 0.781 0.06 0.09 1.052
including 123.00 154.00 31.00 1.039 0.07 0.14 1.293
including 123.00 135.00 12.00 1.202 0.09 0.16 1.503
and 139.00 154.00 15.00 1.024 0.07 0.13 1.257

(1) g/t equals grams per tonne.
(2) Equivalent copper and gold calculations use metal prices of US$1.50 for
copper (Cu), $US0.80 for zinc (Zn) and US$600/oz for gold (Au).
Metallurgical recoveries and net smelter returns for all metals are assumed
to be 100%. Equivalent gold equals Au g/t + (Cu% x 33.07/19.29) + (Zn% x
17.64/19.29).


While individual copper analyses reported to date are somewhat lower than expected (maximum 0.48%), several intervals of zinc in the 0.4% to 1.25% range have been reported. Silver values are similarly low (only 3 values greater than 7 g/t determined by ICP) and are not considered in the determination of gold equivalents until a more specific analytical technique is applied. The predominance of zinc over copper and silver is attributed to the drilling being peripheral to the core of the system.

The samples were halved with a diamond saw and one half returned to the core box for reference. The samples were forwarded to Acme Analytical Laboratories Ltd.'s facility in Vancouver BC for analyses. Copper and zinc were determined by ICP-ES on a 1-gram subsample as part of Acme's Group 7 AR package. Gold was determined by fire assay preparation with an ICP-ES finish using Acme's Group 3B procedure on a 30-gram subsample. Acme reported results of its standards and re-analyses of samples and they were found to be within acceptable variance.

Table 2 - Porphyry Pearl Drill Specifications



Hole E N Azimuth Inclination Length (m)
PP 07-01 3,700 3,800 240 -70 445
PP 07-02 3,700 3,600 240 -60 427
PP 07-03 3,620 5,600 -90 229
PP 07-04 3,600 5,600 070 -60 188
PP 07-05 3,400 3,800 -90 348
PP 07-06 3,400 3,800 240 -60 163
Total 1,798


Starfire's Qualified Person as that term is defined in National Instrument 43-101 is Philip J. Rush, P.Geo., who is the author of this release.

ON BEHALF OF THE BOARD OF DIRECTORS OF STARFIRE MINERALS INC.

Dan Mosher, President/CEO

This press release was prepared by management who takes full responsibility for its contents.

The TSX Venture Exchange does not accept responsibility for the adequacy.

Contact Information

  • Starfire Minerals Inc.
    Dan Mosher
    President/CEO
    (604) 669-5642
    (604) 687-6714 (FAX)