Trading Symbol: CME:TSX-VEN
Shares Outstanding: 73,791,131
CALGARY, June 17 /CNW/ - Celtic Minerals Ltd., (CME:TSX-VEN) is pleased
to announce that field work has started on Celtic's exploration projects in
the Voisey's Bay nickel district, northern Labrador. This season's exploration
efforts will be focussed on the Kingurutik and Black Duck project areas.
Interpretation of the recently completed Versatile Time Domain Electromagnetic
(VTEM) airborne geophysical survey shows the presence of 17 priority areas on
the Kingurutik nickel project which have been selected for immediate field
evaluation. In the Black Duck project area, a further 12 mapped ultramafic
bodies with EM conductors have been prioritized and numerous other EM/Magnetic
anomalies have been selected for follow-up. Pending the completion of
geochemical work and ground truthing, drill testing is expected to be
initiated within two weeks. A drill has been mobilized and stands ready on
Celtic views the Kingurutik and Black Duck project areas as being highly
prospective, and under explored. In particular, a large portion of the Black
Duck project area hasn't been open for exploration since their designation as
Exempt Mineral Lands "EMLs". The EMLs were designated following the Voisey's
Bay discovery, where exploration was prohibited pending land claim
negotiations with First Nations. The EMLs were subsequently opened to staking
in 2007, at which time Celtic began to assemble its Black Duck project area.
The combination of highly anomalous geochemical readings, favourable geology
as evidenced by numerous large ultramafic outcrops, along with strong EM and
magnetic signatures makes the Black Duck area a priority exploration target.
The Kingurutik project area totals 3598 claims or 899.5 sq km, and the
Black Duck project area totals 1364 claims or 341 sq km. Celtic is the most
active junior exploration company in the Voisey's Bay nickel district and
holds the region's largest land position.
Mark Graves, P.Geo., exploration manager for Celtic Minerals Ltd. is the
qualified person who has reviewed the content of this news release.
Celtic encourages the public to visit its website at
www.celticminerals.com for additional information on the various projects or
to email us at email@example.com to be added to the Company's e-mail
list for press releases and updates.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Paul Lipoth, Corporate Relations, Celtic
Minerals Ltd., Phone: (403) 261-2890 x.233, Fax: (403) 265-2223, Email:
firstname.lastname@example.org; Kevin Flaherty, Chairman & CEO, Celtic Minerals Ltd.,
Phone: (403) 261-2890, Fax: (403) 265-2223