Committee Bay plans to focus on Three Bluffs in 2008
2008-05-06 08:59 ET - News Release
Mr. John Williamson reports
COMMITTEE BAY RESOURCES LTD.: EXPLORATION PROGRAM SET FOR 2008
Committee Bay Resources Ltd. today released plans for the 2008 summer program at the Committee Bay greenstone belt, Belt project, located northeast of Baker Lake, Nunavut, Canada. This year's program will concentrate on exploration and economic evaluation of the Three Bluffs deposit area.
Key highlight points:
Concentration on the Three Bluffs area, which hosts a gold resource of 468,400 indicated ounces (2,451,000 tonnes at 5.94 g/t Au) and 230,900 inferred ounces (1,344,000 tonnes at 5.34 g/t Au) (see CBR news in Stockwatch dated March 12, 2008);
Exploration drilling planned to test priority surface and geophysical targets in the Three Bluffs vicinity with intent to add new gold ounces to resource inventory;
Economic, logistical and metallurgical studies to be initiated on Three Bluffs resource;
Comprehensive mapping/target generation planned for southwest portion of the Committee Bay greenstone belt to facilitate 2009 exploration drilling.
"With the successful divestment of our Coolgardie project we are now in the position to concentrate on our core asset, the Committee Bay greenstone belt," stated Committee Bay chief executive officer and president, John Williamson. "With the recent upgrading of the Three Bluffs resource, we plan to thoroughly assess the exploration and development potential of the Three Bluffs project area and will aggressively pursue these opportunities during the 2008 program. In addition, as part of our longer-term exploration strategy, CBR will also be conducting extensive field studies primarily in the southwest portion of the belt to develop quality drill targets for the 2009 program."
The 2008 exploration program will initially concentrate on adding new resources within a 10-kilometre radius of the Three Bluffs deposit and will comprise exploration drilling to evaluate high-priority exploration targets, including the Antler, Hayes and Bluff Seven targets. Additional drilling is planned to evaluate potential parallel auriferous structures identified by previous surface sampling, drill intercepts and geophysics in the immediate Three Bluffs area.
The 2008 program will incorporate an intensive evaluation of the southwest portion of the Committee Bay greenstone belt, which hosts numerous shear zone and iron-formation-hosted gold occurrences. The objective of these programs is to develop exploration drill targets which will then form the focus of the 2009 Committee Bay belt exploration program.
Committee Bay maintains an extensive quality-control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Peter Kleespies, MSc, PGeol, who is the qualified person as defined by National Instrument 43-101.
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