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Starfire Minerals Inc. - Technical report recommends detailed IP survey and 5000 meters of drilling at Porphyry Pearl
TSXV: SFR VANCOUVER, Aug. 6 /CNW/ - Management of Starfire Minerals Inc. (the "Company") is pleas...
About this update from Sandfire Resources America Inc.
[{"type":"text","content":"\n\n\n\nTSXV: SFR\n\n\nVANCOUVER, Aug. 6 /CNW/ - Management of Starfire Minerals Inc. (the\n"Company") is pleased to report that it has received and filed on SEDAR a NI\n43-101 compliant report prepared by James A. Turner, P.Geo. covering the\nCompany's Porphyry Pearl Copper-Gold Project in the Omineca Mining District,\nBritish Columbia. The report along with other information about the Company\ncan be found at www.sedar.com. and on Starfire's website at\nwww.starfireminerals.ca.\n\n\nThe Company's Porphyry Pearl Property lies within the Toodoggone River\nArea approximately 60 km north-northwest of Northgate Minerals Corporation's\nKemess South Mine and consists of 14 mining claims covering approximately\n6,024 hectares. The Company has the option to earn a 100% interest in the\nProperty by making cash payments totaling $542,500 to the vendor, of which\n$292,500 has been paid to date ($250,000 remaining), shares totaling 3,600,000\nof which 2,800,000 has been issued (800,000 remaining), and incurring a total\nof $4.75 million in exploration expenditures on the property, of which\n$2,792,732 has been spent ($1,957,732 remaining). The vendor retains a 3% net\nsmelter return royalty interest.\n\n\nDuring the 2007 and 2008 field seasons, the Company operated two diamond\ndrilling campaigns on the Property totaling 3,922 meters in 11 holes of which\n3,503 meters in nine holes were on the PP Zone. These programs indicate that\nthe PP Zone is mineralized over a strike of 240 meters, and a width of at\nleast 70 meters to a depth of 350 meters below the bedrock / overburden\ninterface, the average depth of the overburden being 34 meters. The zone is\nopen to the northwest, southeast and southwest, as well as to depth.\nSignificant drill results on the PP Zone are listed in the table below.\n\n\n Significant drill intersections on the Porphyry Pearl Zone.\n\n Au eq\nHole From To Meters (g/t) Cu % Zn % Au(2) Remarks\nNo. (1) (g/t)\n\n1 no\n significant\n results\n2 194.00 209.00 15.00 0.352 0.033 0.104 0.504\n2 328.00 356.00 28.00 0.423 0.027 0.271 0.718\nincludes 341.00 356.00 15.00 0.634 0.037 0.313 0.983\n5 51.83 128.00 76.17 0.463 0.054 0.056 0.607\nincludes 51.83 111.76 59.93 0.431 0.050 0.061 0.574\nand 118.00 128.00 10.00 0.768 0.088 0.047 0.962\n6 103.02 311.20 208.18 0.701 0.046 0.095 0.867\n Au by\n metallic\nincludes 2...