Message #54 From:
Stock News Bot Date: February 15, 2007 10:27:00 AM
KDSM News Klondike Star Discovers New Mineralized Zones at Ultra Project
SEATTLE--(BUSINESS WIRE)--Donald W. Flinn, P.Eng., Vice-President, Operations for Klondike Star Mineral Corporation (OTCBB:KDSM) today announced the discovery of volcanogenic massive sulphide zones at it’s Ultra Project, near Haines Junction, Yukon, Canada. The Telluride Zone was discovered in outcrop at 2600 meters (8500 feet) elevation on the northwest ridge of Mount Cairnes, approximately 4.5 kilometers southwest of the massive sulphide boulders previously described on the property. This outcropping zone is thought to be the source of the zinc-copper-silver rich boulders. A second discovery, the Nunatak Zone is located along trend about 3 kilometers to the southeast of Telluride.
The existence of the Telluride mineralized zone was noted by previous workers, but had not been sampled or described in detail. The massive sulphide zone outcrops for about 200 meter along strike, and disappears in both directions beneath overburden and snowfields. The Telluride zone trends northwest, is up to 4 meters thick, and dips moderately to the south into the mountain. A low grade sulphide vein stockwork zone up to 35 meters thick underlies the massive sulphide horizon. The massive sulphide grades up to 3.23% copper, 6.75% zinc, 17.8 ppm silver and 0.15 ppm gold over a 4.0 meter thickness. Maximum values of 13.4% copper, 6.75% zinc, 56 ppm silver and 0.25 ppm gold were obtained from the zone.
The massive sulphide zones are hosted at the contact between mafic pillow lavas and massive basalt, and have been classified as volcanogenic massive sulphide (VMS) deposits. The mineralized horizon has been followed intermittently for about 6 kilometers to the southeast of the Telluride zone, with another significant massive sulphide zone discovered about 3 kilometers away. The Nunatak Zone was discovered near the end of the 2006 exploration program, at an elevation of 2150m (7050 feet) on the north face of Mt. Cairnes. It consists of a bedded massive sulphide zone and associated sulphide vein stockwork zone, with results of 11.54% copper, 1514 ppm zinc and 7.2 ppm silver over a 3 meter thickness.
Flinn notes, “The 2006 program at Ultra represents a significant success for our exploration team and the Company, with the identification of a major VMS horizon with economically interesting grades and widths.”
The 2006 work program at the Ultra property consisted of property wide geological mapping and geochemical sampling, detailed mapping of known showings, grid MMI soil geochemistry in areas of geophysical anomalies previously identified near the massive sulphide boulder zone, and trenching and helicopter pad building at the Telluride showing.
The VMS zones discovered in 2006 present certain logistical challenges, being located on steep slopes at relatively high altitude and in areas in proximity to snowfields and glaciers.
The field season in this area is short, and the weather can be poor. The VMS horizon trend appears to extend for a considerable distance including to the southeast.
The 2006 work was supervised, mineral assessment conducted and the project technical report written by Jean Pautler, P.Geo., senior independent consulting geologist. She is a Qualified Person under Canadian National Instrument 43-101 mineral resource reporting and qualifies as a Competent Person under U.S. reporting standards.
About the Ultra Project
Lone Star is an intermediate stage exploration stage project that is drill ready. It is comprised of 404 mineral claims involving an area of 82 square kilometers (or 31.7 square miles). Three types of mineralization are present on the property: copper-zinc-silver-gold massive sulphide, magmatic nickel-copper-platinum-palladium-gold and Cu-Ag veins. Placer gold is also present. The property is near the former operating nickel-platinum Wellgreen Mine and an area optioned by Falconbridge Limited. The discovery lies to the northwest of various economically significant VMS deposits of various ages in northern B.C. and southeast Alaska, such as Windy Craggy, Anyox, Granduc, Greens Creek and Eskay Creek. Ultra is only 10 kilometers (6.2 miles) west of the all-weather international Alaska Highway.
About Klondike Star
Klondike Star Mineral Corporation is an established exploration and development company actively working on eight major properties, totalling 463 square kilometers or 179 square miles in the Yukon, Canada. The company is developing extensive surface and subsurface mineralized zones on a 370 square kilometer or 143 square mile land position underlying the site of the Klondike gold-producing region in the Dawson mining district. These holdings include, but are not limited to properties known as the Lone Star Project and the Indian River Placer Project, both advanced stage exploration. Additionally, Klondike Star holds interests in 93 square kilometers or 36 square miles of select high potential targets for gold, base and precious metals in the Watson Lake and Whitehorse mining districts of the Yukon.
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products or actions in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
