Symbol: KRE: TSX-V
FRANKFURT - BERLIN - 878 985
VANCOUVER, Oct. 11 /CNW/ - KENRICH-ESKAY MINING CORPORATION (the
"Company") is pleased to provide an update on the ongoing drilling and
exploration surveys at its 100% owned Corey Project in northwestern British
Columbia. The Corey Project is located in the gold- silver-rich Eskay Creek
mining camp north of Stewart. The highly mineralized volcanic-sedimentary
Eskay Rift belt crosses through the central axis of the Corey property,
resulting in broad areas of sulphide-bearing, stringer-zone veining and
alteration, and multiple locations of previously announced volcanogenic
massive sulphides.
A total of 11,781 metres (38,573 feet) of diamond drilling has been
completed in 51 drillholes at Corey property to date, during the 2006 season.
Concurrently, the Company has been drilling on the Coastal Copper project that
also lies within the Eskay Rift belt; results will be released separately.
First 2006 Assay Results from C10 Zone Received
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The geochemical and assay results for the first 11 diamond drillholes on
the C 10 zone (CR06-29 to CR06-39) from the 2006 program have now been
received and interpreted by company geologists. The C10 is an extensive,
highly foliated zone of sericite alteration and stockwork veining that has
consistently returned a strong geochemical response. The zone is consistently
flooded with pyrite, and lesser chalcopyrite, sphalerite and minor
arsenopyrite with highly anomalous geochemical values in Cu-Zn-Au-Ag. The
results are consistent with a very extensive stringer zone of the type found
in the highest levels of a volcanogenic massive sulphide system (VMS).
The 2006 diamond drilling has most notably intersected a significant new
geological unit in holes CR06-33, -34 and -35. A hydrothermally altered mafic
fragmental unit contains a matrix of massive pyrite that could be traced
continuously between the 3 drillholes. The unique texture is indicative of
possible exhalative VMS activity or shallow level pyrite infilling and adds
the first direct evidence that the C10 Zone represents the targeted
Eskay-rift, Middle Jurassic hydrothermal system.
As in the fall of 2005, the Company's geologists interpret the C 10
stringer zone as a pathfinder to volcanogenic massive sulphides. The discovery
of visible gold in 2005 further contributed to the potential for the zone. The
goal of the 2006 drilling was to test this large zone for higher grade
volcanogenic massive sulphides in the overlying geological units to the
stringer zone. The zone has now been traced along a strike length of one
kilometre with drillholes spaced from 150 to 300 metres apart and has been
tested downdip to depths of over 300 metres below surface.
The Company geologists are very encouraged with the results at C10 to
date. The strong enrichments in precious and base metals are present
throughout the altered zone suggesting that this is a large mineralizing
system. Now that the geometry of the target has been determined by the 2005-06
drilling, work is focusing on following the extensions, along strike and down
dip and to test the stratigraphic horizons favourable for massive sulphide
deposition.
The new assay data is summarized in the table below.
<<
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From To Length Cu Ag Au
Station/DH (m) (m) (m) (assay) (assay) (assay)
% g/t g/t
CR06-29 96.1 125.1 29.0 0.30 16.1 0.16
incl. 96.1 98.1 2.0 0.32 136.0 0.12
and 102.1 112.1 10.0 0.43 10.1 0.19
CR06-30 22.9 40.4 17.5 0.22 0.0 0.32
CR06-30 139.0 152.8 13.8 0.36 8.0 0.16
CR06-31 108.8 110.7 1.9 0.02 2.1 2.18
CR06-31 137.8 141.6 3.8 0.04 5.0 1.75
CR06-32 148.6 153.0 4.4 0.14 9.6 3.14
CR06-33 209.0 210.0 1.0 0.04 4.1 0.94
CR06-34 127.3 133.8 6.5 0.06 6.5 1.15
CR06-35 188.4 190.4 2.0 0.05 5.8 4.26
CR06-35 196.4 199.5 3.1 0.31 6.2 0.09
CR06-36 30.6 33.4 2.8 0.01 4.5 1.89
CR06-37 215.0 219.2 4.2 0.47 7.5 0.16
CR06-38 226.1 268.3 42.2 0.13 3.3 0.05
incl. 254.1 257.1 3.0 0.32 6.5 0.11
CR06-39 178.8 180.3 1.5 0.02 4.1 1.74
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>>
The assay and geochemical results received to date have demonstrated that
the entire zone is locally enriched in copper and gold with other localized
enrichments of key pathfinder elements such as zinc, silver and arsenic - all
of which is consistent with an Eskay Creek style hydrothermal system. Wide
intervals of enriched copper have been intersected; for example, hole 29
returned a 29.0 metre interval grading 0.3% Cu, 16.1 g/t Ag and 0.16 g/t Au
that included 2.0 metres grading 0.32% Cu and 136.0 g/t Ag. Other intervals
within the C10 are enriched in gold with numerous intervals in excess of 1 g/t
Au encountered; for example, hole 32 returned a 4.4 metre interval that graded
3.14 g/t Au and hole 35 returned a 2.0 metre interval grading 4.26 g/t Au.
Results from C 10, Golfcourse, South Unuk and Battlement Areas Pending.
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An additional eight holes have been completed at the C10 Zone this
season. These include a deep diamond drill hole that will test continuity of
the potential VMS horizon discussed above. Also, three diamond drills have
been working on site at Corey during September and early October, drilling
numerous geophysical, geochemical and geological targets including the
Golfcourse, South Unuk and Battlement areas. Results for these and the
additional C 10 holes are pending and will be released upon review and
interpretation by the Company geologists.
The information contained in this document has been reviewed by Paul
McGuigan, P.Geo., a Qualified Person as defined by National Instrument 43-101.
<<
On behalf of The Board of Directors of
Kenrich-Eskay Mining Corporation
"Wally E. Boguski"
------------------
Wally E Boguski,
President, CEO, Director
>>
This document contains certain forward looking statements which involve
known and unknown risks, delays, and uncertainties not under the corporation's
control which may cause actual results, performance or achievements of the
corporation's to be materially different from the results, performance or
expectation implied by these forward looking statements.
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or accuracy of this news release.
