New claim highlights include:
- 296 claims spanning the area between and contiguous with the Company's Blende Project and ATAC Resources' recent Ocelot discovery claims.
- 153 gold prospect claims adjacent to the west end of ATACs Carlin Trend.
- 200 silver prospect claims have been staked east of Keno near the Bellekino high-grade silver mine
The Blende Deposit
The Blende Property, which was the largest lead-zinc-silver deposit at the time of the detailed geological paper by Robinson and Godwin in 1995, is a large moderate grade deposit optioned by the Company in 2005 and is now owned by the Company who purchased a 100% interest on November 30, 2008. In total, from 2006 to 2008, the Company has expended approximately $3.6 million, not including property payments. Based on 1991 and previous drilling programs, published historical tonnages and grades of the "reserve" were estimated by Billiton for the whole property as:
1991 HISTORICAL RESOURCE ESTIMATE BY BILLITON PLC (NOW BHP Billiton) Originally termed "Reserve" | ||||
|---|---|---|---|---|
ZONE | RESOURCE tones | ZINC % | LEAD % | SILVER grams/tonne |
West Zone | 15,300,000 | 3.04 | 3.23 | 67.5 |
East Zone | 4,300,000 | 3.05 | 1.31 | 15.1 |
TOTALS | 19,600,000 | 3.04 | 2.80 | 56.0 |
as compiled by Barry Price, from 2004 report
Total drilling done on the Blende Property from 1988 to the end of 2008 is 132 holes totaling 25,195.32 m. In 2006 a total of 4,235.8 m of drilling was completed in 23 holes drillholes and in 2007 an additional 15 drill holes totaling 3411 meters were completed on the property by the Company in the Far West, Far East and Central zones under the supervision of Chris Gallagher, M.Sc. In 2008 the Company completed 7 holes in the West and Far west zones, totaling 1,047 meters under the supervision of Joanne Van Randen B.Sc.
The Company now has an updated website with information and technical reports at www.blindcreekresources.com
The technical information in this News Release has been reviewed by Nicholas Clive Aspinall, P.Eng., a qualified person as defined in National Instrument 43-101.
On behalf of the Board of Directors,
"J. Frank Callaghan"
J. Frank Callaghan
President and CEO
Tel: (604) 669 -- 6463
This News Release contains forward-looking statements. Forward-looking statements are statements, which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. All phases of the Company's operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.