VANCOUVER, Aug. 29 /CNW/ - Starfire Minerals Inc. (SFR:TSX-V) announces
an amendment to the press release dated Friday August 26, 2005 to include two
omitted samples obtained from the Capri III. Table 1 includes the two omitted
assay results and denotes the additions with asterisks.
Starfire Minerals Inc. has completed Phase II of its 2005 exploration
program on their Capri uranium properties in Quebec. The works to date
includes line cutting, geophysics (scintillometer and magnetics) and mapping
on 3 grids in addition to the recent phase of diamond drilling on Grid I.
Grid I consists of 25 line kilometers at 50 m line spacing over areas of
past discovery. Scintillometer surveys and geological mapping identified
several areas of anomalous readings that were sampled on surface and later
tested at depth with diamond drilling. The Company has completed 1700m of NQ
drilling at 21 drill hole locations and is awaiting geochemical assay results.
Grid II (to the east of Grid I) comprises about 20 line-kilometres of
grid over which scintillometer and magnetics surveys were conducted.
Scintillometer, mapping surveys and sampling identified several anomalous
pegmatitic geological units that were stripped of organics and sampled using
a rock saw. In total 12 grab and chip samples were taken from Grid II and
submitted to Lakefield Laboratories for analysis.
Grid III (to the west of Grid I) comprises about 3 line kilometers of
grid over which scintillometer and magnetics surveys were conducted.
Scintillometer and mapping surveys identified two north-south trending
granitic-pegmatitic geological units that span the length of the grid, about
350 metres. An anomalous area of high scintillometer readings was identified
in July at which time 14 panel and channel samplings were excavated from the
anomalous area with a rock saw. The results of the 14 samples are shown below
in Table 1. Further rock saw sampling was conducted along strike both north
and south of the anomalous zone. An additional 17 samples were taken with
rocksaw in late August. The anomalous granitic unit extends further on the
property both north and south of the grid. Expansion of the grid and
additional surveys will be required to determine the size of this geological
unit.
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Table 1:
Capri Grid III Panel and Channel Sample Geochemical Assay Results.
-------------------------------------------------------------------------
Sample ID Spectrometer Uranium content Equivalent assay
C.P.S Using XRF content in
(grams/tonne) pounds/tonne
Uranium Uranium
-------------------------------------------------------------------------
WZ CH-A 01 1,300 25 0.06
-------------------------------------------------------------------------
WZ CH-A 02 1,000 25 0.06
-------------------------------------------------------------------------
WZ CH-A 03 500 19 0.04
-------------------------------------------------------------------------
WZ CH-A 04 320 14 0.03
-------------------------------------------------------------------------
WZ CH-A 05 300 25 0.06
-------------------------------------------------------------------------
WZ CH-AX 01 300 8 0.02
-------------------------------------------------------------------------
WZ TR-A PAN 01 10,000 15 0.03
-------------------------------------------------------------------------
WZ TR-A PAN 02 2,000 53 0.12
-------------------------------------------------------------------------
WZ TR-B PAN 01 16,000 359 0.79
-------------------------------------------------------------------------
WZ TR-B PAN 02 24,000 761 1.67
-------------------------------------------------------------------------
Trench B Bloc Grab 28,000 383 0.84
-------------------------------------------------------------------------
WZ TR-C PAN 01 14,000 433 0.95
-------------------------------------------------------------------------
(xx)WZ TR-C PAN 02 13,000 509 1.12
-------------------------------------------------------------------------
(xx)WZ TR-D PAN 01 1,400 54 0.12
-------------------------------------------------------------------------
The Price of U3O8 at present is US$30.20/pound. C.P.S.: A count per
second reading includes gamma ray emissions from uranium, thorium and daughter
elements.
All of the samples shown in Table 1 were excavated from pegmatite and
pegmatitic granites from 3 trenches that are about one metre wide and 10m
long. Several of the above results are considered by the Company to be highly
anomalous and should be tested at depth with diamond drilling.
The Company's target range for this project is between 0.5 and 2.0 pounds
per tonne. Historically low-grade high-tonnage mines have commercially
produced uranium at these grades. The Company has not yet conducted sufficient
exploration on the Capri property to delineate an economic resource at this
time.
The Company plans to test the anomalous zone on Grid III with diamond
drilling in the area of the positive surface assay results shown in Table 1,
and will expand to test other anomalous zones along strike, as indicated by
pending assay results.
Pending positive assay results from Grid II the Company plans to
delineate drill targets on Grid II.
The Company is awaiting assay results from 21 drill holes from Grid I.
Pending positive assay results a second phase of drilling will be proposed.
The assay results from Lakefield Laboratories will be published as the
information is made available.
ON BEHALF OF THE BOARD OF DIRECTORS OF
STARFIRE MINERALS INC.
"Freeman Smith"
----------------------------------
Freeman Smith, Director, P.Geo.-QP for the company
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR
DISAPPROVES OF THIS PRESS RELEASE.
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