VANCOUVER, April 6 /CNW/ - International Samuel Exploration Corp. (ISS: TSX-V) ("Company") is pleased to report that it has entered into an option agreement to acquire a 100% interest in the Rasp Copper-Gold Property from W. S. Ferreira Ltd.
The Rasp Property contains a strong electromagnetic conductor with a gravity anomaly and a flanking magnetic anomaly. The strong electromagnetic conductor has a strike length of 600 metres. Only one previous drill hole was drilled at this conductor; diamond drill hole RA202-01 by Cominco Ltd. in 2001. This drill hole may not have intersected the conductor itself; instead the drill hole probably encountered stringer mineralization near the main conductor. Significant mineralization encountered in diamond drill hole RA202-01 is listed below:
Diamond Drill From To Interval Gold Copper
Hole Metres Metres Metres g/t %
RA-202-01 176.9 177.08 0.18 4.3 4.09
RA-202-01 180.7 181.37 0.67 3.4 0.11
International Samuel plans to target a diamond drill hole into the projected central part of the electromagnetic conductor. The stringer mineralization listed above suggests that this is a mineralized conductor and the gravity anomaly and electromagnetic conductor strength suggests that this conductor may increase significantly in width. A 600 metre strike length could be the signature of a large deposit.
The property is under a 5 year option, with first year expenditures of $10,000.00 to the vendor, a $100,000 work commitment and 50,000 shares subject to TSX approval. Total expenditures over 5 years are $100,000 and 800,000 shares to the vendor and a total work commitment of $1,000,000. The Rasp property is located 100 kilometres north of Thompson, Manitoba.
Of the 37 Copper-Zinc deposits that have been mined in the Flin Flon-Snow Lake area, most of the mines had an EM conductor that was less than 1,000 metres, The Trout Lake Mine was discovered by drilling a short strike length EM conductor and from historical production contained 20 million tonnes of 1.83% Copper, 5.59% Zinc, and 1.73 g/t Gold. The Rasp Property is located 110 kilometres east of the large Ruttan Copper-Zinc deposit which historically had production of 55 million tonnes of 1.23% Copper and 1.41% Zinc.
About International Samuel Exploration
International Samuel is a Canadian exploration company involved in the exploration for base and precious metals in Manitoba.
All the technical information for this release has been reviewed by Bill Ferreira, P.Geo, a qualified person.
We seek safe harbour.
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 the content of this news release
SOURCE INTERNATIONAL SAMUEL EXPLORATION CORP.
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