Shares Issued - 26,037,499
Feb. 27, 2012 close: $0.215
ETOBICOKE, ON, Feb. 28, 2012 /CNW/ - Stina Resources Limited ("the
Company") announces results from its 2011 exploration program on the
Kodiak Property in the Dawson Mining District, Yukon Territory, located
15 km south of the White Gold deposit of Kinross Gold Corporation. The
2011 program consisted of a 345 line kilometre airborne magnetic and
radiometric geophysical survey across the property and follow up of an
856.8 ppb gold in soil anomaly.
A map can be viewed below or at www.stinaresources.com/Kodiak2011.jpg
Previous exploration by Stina Resources Ltd. since acquisition in 2009
has consisted of geological mapping and prospecting with concurrent
geochemical sampling, a 3,822 sample soil geochemical survey
(comprising approximately 65% of the property), an 87.5 km GEM magnetic
survey over the northeastern grid area (comprising approximately 35% of
the property), and 383m of mini-excavator trenching in 3 trenches.
The 2011 airborne survey further defined the northerly trending magnetic
high anomaly that extends southerly from the White Gold deposit of
Kinross Gold Corporation onto the Kodiak property. The magnetic anomaly
appears to be disrupted by the Kodiak Fault, which exhibits an open
ended 4 km long coincident gold - arsenic - antimony soil anomaly
(Kodiak Trend) with a maximum gold value of 856.8 ppb with 36 ppm Bi.
The fault, mapped by the Geological Survey of Canada, transects the
property, separating a Devono-Mississippian package of interbedded
schist/gneiss and amphibolite in the north from a Devono-Mississippian
quartzite package to the south. (Refer to Figure 1.)
The Kodiak Fault appears to dextrally offset a west-southwesterly fault,
with 2 km of displacement, producing a favourable zone of disruption
and dilatancy in the southwest property area, not covered by grid soils
(Figure 1). The zone occurs in a similar structural and magnetic environment to
that at White Gold, occurring along the western margin of the northerly
trending magnetic high feature. Additional soils and
prospecting/mapping are warranted.
Three northwest trending gold in soil geochemical anomalies have been
delineated on the Kodiak Property with maximum values of 856.8 ppb Au,
36 ppm Bi, 676 ppm As, 13.5 ppm Sb and 586.6 ppm Ni. The anomalies are
the Kodiak Trend, discussed above, a parallel 4 km long and up to 1 km
wide anomaly (Central Trend) situated 1 km to the northeast with a
maximum gold value of 308.2 ppb, and a lower order discontinuous open
ended anomaly (Eastern anomaly) 2.5 km long by 100-200m wide in the
northeast property area. The Eastern anomaly appears to be controlled
by another west-northwesterly trending fault, sub-parallel to the
Kodiak Fault, suggested by the 2011 airborne magnetic survey. A more
gold anomalous zone, with coincident arsenic and antimony, occurs at
the junction of a less pronounced north-northwesterly trending gold
soil anomaly (Zipper Trend) with the Central Trend.
A limited trenching program completed in 2010 on the Central Trend
proximal to the Zipper Trend junction (Figure 1) intersected quartz-sericite altered augen gneiss with some quartz
veining, limonite and minor cubic pyrite, similar to the rocks
encountered at the White Gold deposit and Kaminak Gold Corporation's
Coffee property. No significant results were obtained from trenches KOD
Tr10-1 and -2, but 507 ppb Au, with 1954 ppm arsenic, was obtained from
a grab sample of strongly limonitic, siliceous and carbonate altered
gneiss from KOD Tr10-3 (which was only systematically grab sampled).
The 856.8 ppb gold in soil anomaly could not be trenched due to local
steep topography. Follow up of the anomaly revealed that the soil
sample was collected from a paleotalus slope with water flowing through
the boulders, suggestive of a source higher on the hill. A 2m wide 040°
trending quartz vein on the ridgeline above the sample returned a low
anomalous value of 232 ppb Au across 1m. Trenching along the ridgeline
and along the quartz vein is necessary to more fully evaluate the vein
and source area of the anomaly.
All samples were processed by ACME Laboratories in Whitehorse, Yukon
Territory, and assays completed at their facilities in Vancouver,
British Columbia. Acme is an IS0 9001:2008 accredited facility,
certificate number FM 63007.
There has been insufficient exploration to define a Mineral Resource on
the Kodiak Property, and it is uncertain as to whether, or not, further
exploration will result in the discovery of a Mineral Resource on the
property. The technical information in this news release was prepared
by Jean Pautler, P. Geo. a Qualified Person as defined by NI 43-101.
On behalf of the Board of Directors,
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
SOURCE Stina Resources Ltd.
For further information:
please call 1-800-545-9940 or visit our website at www.stinaresources.com