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Starfield Resources Inc.: 2006 Development and Exploration Update
Vancouver, Canada (ots/PRNewswire) -
- Ferguson Lake Nickel-Copper-Cobalt-Platinum-Palladium Project, Nunavut, Canada
SRU - TSX.V
SRFDF - OTC BB
Starfield Resources Inc. (TSX.V: SRU and OTC BB:SRFDF) ("Starfield" or "the Company") today reported that with the closing of the first portion (14,261,652 Dollars) of the 16,566,653 Dollars placement, the 2006 Development and Exploration plan for the Ferguson Lake Mineral District is now underway. This comprehensive program is designed to advance the large magmatic sulphide base and precious metal resource towards feasibility. The development of this Copper-Nickel-Cobalt-Palladium-Platinum project will have a major economic impact for Nunavut and Canada.
Recent Activities and Reports:
This year's supplies and fuel have been mobilized from Churchill, Arviat and Rankin Inlet to Ferguson Lake. Starfield has received approval from Nunavut regulators for the Company's camp to be relocated from the temporary leased area on the island to a permanent site on the West side of Ferguson Lake. Arctic-style Atco trailers have been purchased and mobilized to the new site where a permanent fully-winterized camp is being constructed proximinal to the West Zone "Pit Area" development. In addition:
@@start.t1@@ - Major Drilling Group International, of Moncton, New Brunswick, has
again been contracted for diamond drilling services. Drill crews are
- Crone Geophysics and Exploration Ltd., of Mississauga, Ontario, has
also been contracted for 2006. Survey crews have arrived on site
where they will provide SQUID ground EM geophysical surveying and
downhole PEM geophysical surveying of drill holes during the 2006
- Dr. N.C. Carter, independent P.Eng, will complete his NI 43-101
compliant report with resource estimates in May 2006. This report
will be filed on SEDAR.
- Dr. Isobel Clark of Geostokos Ltd., who is on retainer to the
Company, will present, her geostatistical evaluation and
recommendation report by the end of May 2006.@@end@@
Robert Lo, P.Eng, the Company's independent geophysical contractor has prepared a comprehensive report and interpretation of the Geotech regional VTEM helicopter survey of more than 720,000 acres (about 60% of the property). The report prioritized VTEM conductive trends and targets and potential kimberlite anomalies. Regional and detailed soil-till samples from the 1,300,000 acre property have been geochemically analyzed and multi-element anomalies have been identified. Coincident regional geochemical and airborne geophysical anomalies have been prioritized for detailed ground geological examination, geophysical surveying and diamond drilling. Dr. Al Miller has again been contracted to conduct field mapping and metallogenic evaluations.
Upon receipt of the Geostokos Ltd. report, the Company will use the recommendations to guide the delineation drilling program objective of moving the inferred resources into the indicated and measured categories. The program's initial drilling will collect massive sulphide samples from the West Zone "Pit Area" for further metallurgical testing. Concurrently, hydrometallurgical leach testing and process development is ongoing at laboratories in Kingston, Ontario and in Quebec City. Testing will now be scaled up to 200 kilograms.
Rescan Environmental Services Ltd. are continuing with their environmental and engineering site development evaluations. A legal survey of West Zone mineral claims during 2006 will enable the Company to apply for mining lease status. Pincock Allen & Holt, of Denver, Colorado, is incorporating the 2005 drill information, the N.C. Carter resource estimates, the Geostokos Ltd. report and metallurgical results into a conceptual scoping study.
The Company's main focus in 2006 is to advance existing resources towards feasibility, while the regional exploration strategy will focus on project generation that will be of interest to potential industry partners.
Starfield Resources Inc. is an advanced exploration and development company focused on its Ferguson Lake Copper-Nickel-Cobalt-Palladium-Platinum property located in Nunavut, Canada. The Ferguson Lake property covers more than 1.3 million acres and is 100% owned by the Company. Since 1999, Starfield has completed more than 104,000 metres of diamond drilling in 243 holes. In addition to the NI 43-101 technical report which will be filed on Starfield's SEDAR website within 45 days of April 6, 2006, the Company expects to announce the results of geostatistical evaluations and a scoping study in 2006. A developing feature of this mineral district is the significant discovery of high grade platinum and palladium mineralization found in the footwall to the massive sulphide deposit. Starfield's Ferguson Lake Project is unfolding as Nunavut's largest ongoing base and precious metal project.
On behalf of the Board of Directors,
"Glen C. Macdonald"
Glen C. Macdonald, P.Geo., Director
(Glen Macdonald is the Qualified Person under National Instrument 43-101 responsible for preparing the technical disclosure in this news release)
Caution concerning forward-looking statements
This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1993, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable securities laws or an exemption from such registration is available.
ots Originaltext: Starfield Resources Inc.
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