Sheltered Oak Resources Corp. Reports Encouraging Preliminary Assay Results on Phase 5 Drilling Program at Kerrs Gold Property
05 Octobre 2010 - 2:00PM
PR Newswire (Canada)
TORONTO, Oct. 5 /CNW/ -- Trading Symbol: TSX-V OAK TORONTO, Oct. 5
/CNW/ - Sheltered Oak Resources Corp. (TSXV: OAK) today announced
gold assay results from its Phase 5 drilling program at the Kerrs
Gold Property located on the western shore of Lake Abitibi,
northeast of Matheson, Ontario. To date, fifteen drill holes have
been completed totaling 5,944 metres on Kerrs. The Phase 5 program
was designed to complete in-fill drilling of the Kerrs quartz
carbonate breccia deposit from sections 600N to 1500N. The prime
objective of this program is directed to the completion of a NI
43-101 compliant resource estimation. JJ Elkin, President and CEO,
commented, "The historical exploration work conducted by Noranda
(from 1986 to 1988) and the recent exploration programs conducted
by Sage Gold Inc (from 2006 to 2007), followed by Sheltered Oak 's
work in the past three years will provide what we need to declare a
NI 43-101 gold resource based on five drill program phases. We are
looking forward to the first inferred resource estimation on the
Kerrs Deposit to be released to the public during the fourth
quarter of this year." Drill holes K-10-33,-34, -39, -50, -41, -42,
and -43 were positioned at 100 m intervals from section 600N to
section 1100N to test the down-dip strike extent under Bell Lake.
Drill holes K-10-30, -31, -32, -32A, -35, -36, -37 and -38 were
positioned at 100m intervals, between drill section fences from
section 1200N to section 1600N. While assay results for holes K -
34, 41, 35, 36, 37 and 38 are pending, encouraging results are
noted in holes as follows: K-10-42 on section 900N which returned
3.84 g/t over 6.5m (380.1m to 387.6m) including a 2m interval
grading 7.34 g/t; On section 1100N, hole K-10-39 returned 2.10 g/t
over 2m (390m to 392m); On section 1300N, hole K-10-30 returned
3.01 g/t over 2m (410m to 412m); On section 1300N, hole K-10-32
returned 3.23 g/t over 1.5m (358m to 359.5m). A 3D geological model
defined by 27 holes, illustrates that the quartz carbonate breccias
deposit is strata bound occurring at the contact of a thick mafic
pillow flow sequence overlying an ultramafic, magnetic flow
sequence. Also, quartz feldspar porphyry sills are located above
and below the breccia zones. This stratigraphy is draped on a
shallow dipping synclinal fold structure trending in a
northeasterly direction towards Abitibi Lake. The phase 5 drilling
campaign has confirmed that the gold enrichment occurs in thicker
pyritic quartz vein breccias zones conforming to a trough structure
developed along the fold axis over a 700m length. Gold
mineralization occurs as pyritized quartz vein breccias enveloped
by quartz fuchsite carbonate vein breccias and alteration envelopes
varying in thickness from 6m to 40m. The phase 5 diamond drilling
program involving geological core logging, sampling and assaying
tasks was supervised by Peter Hubacheck, P.Geo. No.1059 (APGO) on
behalf of Hubacheck Consulting Geologists (HCG), affiliated with
W.A. Hubacheck Consultants Ltd. Peter Hubacheck is a qualified
person as defined by NI 43-101 and has reviewed and authorized the
geotechnical material in this press release. QA/QC protocols for
this program is available in prior press releases on Sheltered
Oak's website. There are 71,075,235 issued and outstanding common
shares of Sheltered Oak Resources Corp. This release was prepared
by management of the Company who takes full responsibility for its
contents. The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this news
release. Some statements contained in this release are
forward-looking and, therefore, involve uncertainties or risks that
could cause actual results to differ materially. Such
forward-looking statements include comments regarding mining and
milling operations, mineral resource statements and exploration
program performance. Factors that could cause actual results to
differ materially include metal price volatility, economic and
political events affecting metal supply and demand, fluctuations in
mineralization grade, geological, technical, mining or processing
problems, exploration programs and future results of exploration
programs, future profitability and production. The Company
disclaims any obligation to update forward-looking statements
unless required by law. Sheltered Oak Resources Corp., J.J Elkin,
President and CEO, (E) des874@aol.com; Sheltered Oak Resources
Corp., Art Hampson, Chief Financial Officer, (T)905 827 5414,
(F)905 847 9575, (E)ahampson@shelteredoak.com; CHF Investor
Relations, Jeanny So, Director of Operations, (T)416 868 1079 ext.
225, (F)416 868 6198, (E)jeanny@chfir.com; CHF Investor Relations,
Chris Haldane, Account Manager, (T)416 868 1079 ext. 237, (F)416
868 6198, (E)chris@chfir.com
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