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Knight drills 7.3 m of 2.72% Ni at Raglan
2007-12-20 17:01 ET - News Release
Mr. Harvey Keats reports
KNIGHT RESOURCES LTD.-WEST RAGLAN: 2.72% NICKEL OVER 7.30 METRES INTERSECTED IN WR-07-142 AT FRONTIER SOUTH AND 4.54% NICKEL OVER 1.85 METRES INTERSECTED IN WR-07-141 AT SEAHAWK
Knight Resources Ltd.'s high-grade mineralization discovered early in the 2007 program at Frontier and Seahawk, has been extended with nickel-bearing sulphide intersections in diamond drill holes WR-07-141 and WR-07-142.
WEST RAGLAN DRILL RESULTS Ultra- Core DDH mafic From To length ETT Ni Cu Pt Pd S (depth) Area unit (m) (m) (m) (%) (%) (g/t) (g/t) (g/t) (%) WR-07-141 Seahawk C 140.30 142.15 1.85 1.67 4.54 1.61 Pending 17.48 (181 m) WR-07-142 Frontier C 246.60 253.90 7.30 5.55 2.72 2.07 Pending 9.65 (344 m) South
A total of 18 drill holes were completed in 2007 for a total of 5,934 metres of drilling. The final 11 holes are reported here. Two rigs have been winterized and will remain on site. Fuel and supplies have been mobilized to Salluit in preparation for an expanded 2008 program.
WR-07-142 was drilled 50 metres downdip of WR-07-128 that intersected: 28.65 metres grading 1.06 per cent nickel, 0.36 per cent copper, 0.24 gram per tonne (g/t) platinum and 0.96 g/t palladium, and 5.90 metres grading 2.98 per cent nickel, 0.68 per cent copper, 0.41 g/t platinum and 1.6 g/t palladium (see news release in Stockwatch dated July 25, 2007), defining a new mineralized trend in the Frontier South zone. WR-07-140 and WR-07-145 were drilled 25 metres west of WR-07-142 and WR-07-128. Mineralization in this trend occurs as disseminated to net-textured sulphides that are concentrated in a trough structure at the basal contact of the C ultramafic unit. This ultramafic unit extends over at least 1.4 kilometres. This zone occurs 545 metres west of the new intersection at the Seahawk zone described below. There is no confining drilling downdip or to the east of WR-07-128 and WR-07-142.
WR-07-141 is the second hole defining new mineralization in the C ultramafic unit at the Seahawk zone first encountered in WR-07-130 that returned 3.22 per cent nickel, 1.93 per cent copper, 0.99 g/t platinum and 3.35 g/t palladium over 3.50 metres (see news release in Stockwatch dated Aug. 8, 2007). Mineralization occurs as high-grade disseminated and net-textured sulphides, also believed to be in a trough structure, developed at the base of the C ultramafic unit located 545 metres east of the Frontier South zone described above. Drilling to date has not confined this zone.
Exploratory drilling was also conducted in the Frontier South and Century areas. WR-07-134 tested the base of the D ultramafic unit at a vertical depth of 75 metres between Century and Frontier South, WR-07-136 tested the C ultramafic unit at a depth of 340 metres at Century, WR-07-137 tested the C and D ultramafic unit between the Seahawk and Frontier South zones, WR-07-138 tested the D and E ultramafic unit also between Seahawk and Frontier South zones, and WR-07-143 tested stratigraphy below frontier South zone and intersected the E ultramafic unit. All holes intersected ultramafic rock.
Drilling was also conducted at the BT zone where WR-07-139 was completed as a 120-metre step-out to the west of WR-07-133 that returned 0.80 metre grading 1.08 per cent nickel (see news release in Stockwatch dated Oct. 3, 2007). WR-07-144 was drilled as a test of the unexplored Red zone located 1.5 kilometres east of Seahawk.
The greater Frontier area comprises multiple ultramafic units that occur over a six-kilometre strike length along the Raglan horizon. Drilling in the greater Frontier area in 2007 confirms the presence of at least five vertically dipping ultramafic units (A through E) that straddle the Raglan horizon. Stratigraphically, the uppermost ultramafic unit is designated ultramafic unit A and the lowermost ultramafic unit is designated unit E. Mineralization has been identified in units B, C and D and occurs as both individual sulphide lenses along embayment structures at the base of the units and as sulphide concentrations within their interiors, similar to mineralization at Xstrata Nickel's Raglan mine. The well-mineralized units C and D have a strike length in excess of four kilometres with much of their extent yet to be investigated by drilling. Nickel tenors (per cent nickel in 100-per-cent sulphides) are similar to those observed at Xstrata's Raglan deposits. Ultramafic units A, B and E remain to be investigated.
The West Raglan project is a joint venture between Anglo American Exploration (Canada) Ltd. (AAEC) (51 per cent) and Knight (49 per cent). The West Raglan project, Quebec, covers over 720 square kilometres and includes approximately 65 kilometres of the Raglan Horizon along which extensive ultramafic rocks typically occur. The Raglan Horizon hosts the mineralized lenses at West Raglan and Xstrata's Raglan deposits to the east.
AAEC is the operator of the West Raglan project and is responsible for the sampling, submittal of samples for assay and quality assurance/quality control. Samples were cut on site, and standards and blanks were added to each sample batch under supervision of AAEC staff. The samples were shipped in secure containers to ALS Chemex in Vancouver. Assaying of samples reported in this news release was carried out and certified by ALS Chemex, of Vancouver, B.C. (nickel, copper, cobalt and sulphur (total) by sodium peroxide fusion followed by ICP-AES) (Pb-FA for platinum, palladium and gold). Sample preparation was done by ALS Chemex of Vancouver, B.C. Robin Adair, vice-president of exploration, is the qualified person responsible for the technical information in this news release.
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