Symbol: KRE: TSX-V
FRANKFURT - BERLIN - 878 985
VANCOUVER, Aug. 28 /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.
As of August 25, the combined Corey and Coastal Copper programs have
completed a total of 61 drill holes, for an aggregate 48,668 feet (16,045
meters) drilled. The Company's geologists have recommended an extensive number
of targets be tested based on both the existing geological information and the
new geophysical data. Currently, there are four diamond drills active on these
Eskay Rift properties. Further to the press release of August 15, 2006, assay
results from 11 holes drilled at the coastal copper property have being
released with the balance of 50 drill holes on both the Coastal Copper and
Corey properties still pending.
A total of 6,043 metres (19,838 feet) of diamond drilling has been
completed in 25 drillholes at Corey property to date, during the 2006 season.
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. Company geologists
have conducted a program of geochemical analysis, prior to laying out selected
zones for follow-up assay. All geochemical determinations are made with a 30g
sub-sample and return a more reliable multi-element characterization of the
major mineralization trends.
Phase One Drilling on C 10 is Complete
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Phase One diamond drilling has placed a total of 12 diamond drill holes
into the C10 zone. Assays for the C 10 zone are pending; however, two parallel
zones of highly foliated, sericite alteration and stockwork veining have
returned a strong geochemical response. The zones are 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.
As in the fall of 2005, the Company's geologists interpreted the stringer
zone as a pathfinder to volcanogenic massive sulphides. The discovery of
visible gold further contributed to the potential of the zone. Now that the
geometry of the target has be determined by the 2006 drilling, work is
focusing on following the extensions, along strike and down dip and to test
the stratigraphic horizons favourable for massive sulphide deposition.
AeroTEM II Airborne Geophysical Targets are being Tested
--------------------------------------------------------
Airborne geophysical surveys were completed and the full report received
in July. Follow-up diamond drilling has commenced to test the numerous
electromagnetic conductors identified in this survey. 13 drillholes in three
different areas have been completed on these targets to date and assays are
pending. Drilling is currently underway testing Salmon River Formation
mudstones on the northern Corey property, in high alpine meadows (our
'Golfcourse' area), where AeroTEM II showed several distinct conductors.
Eskay-Rift Sequence Delineated on Battlement Zone
-------------------------------------------------
Continued geological mapping and sampling in the rugged and
overburden-covered Battlement zone on the northwest quadrant of the property
has encountered Eskay-equivalent mudstone and sub-aqueous rhyolites and
basalts. Lithogeochemical results confirm that this newly discovered zone is
of the same tholeiitic affinity (lithogeochemical signature) as the main
volcanic-sedimentary host sequence at the Eskay mine. Co-incident high
geochemical sediment survey results in this area confirm the high potential of
this zone. Construction of drill platforms is underway.
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 corporations
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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"TSX Venture Exchange" does not accept responsibility for the adequacy or
accuracy of this news release.
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