HALIFAX, Jan. 8, 2014 /CNW/ - Stockport Exploration Inc. (TSX: SPT) (OTC: LMTCF) is announcing sampling results from its Phase 1 regolith sampling program at the SPL 214 license from within the Company's 2,020 km2 Kenyan concessions. Results are related to the first of five near surface gold targets currently being evaluated by Stockport.
The first target, Kasidho, is defined by an area of anomalous gold results that measures approximately 300m x 150m in surface dimension. The company completed 17 sampling pits in the Kasidho area and these targeted a quartz rubble band within the regolith that ranges in measured true thickness from 0.3m to 1.9m. Individual samples recovered from these intervals average 0.2m in length and logged quartz rubble content of the samples ranges between 10% and 60%. Several selected samples of quartz rubble material showing visible gold were collected from pits at Kasidho and constitute grab samples of quartz material. These returned gold values of 325.6 g/t, 185.6 g/t, 59.5 g/t, 32.8g/t and 39.1 g/t. A table of significant Kasidho sampling results appears below and the company plans further work on assessment of gold distribution and grades in this area.
This sampling program at Kasidho is part of a two-phase surface pit sampling program. Phase 1 consists of sampling and metallurgy of near surface soils and regolith materials that contain quartz rubble, plus work on procurement of access permits and environmental approvals. The Company intends to assess the area's potential to support a viable small-scale surface mining operation. Based on results from Phase 1, a Phase 2 program will be undertaken to meet the remaining requirements for establishment of a small-scale mining operation.
Project sampling protocols include sampling of bedrock, where exposed, as well as the quartz rubble zones that occur within overlying regolith. Bedrock samples typically consist of continuous chip samples of exposed outcroppings of quartz veins or associated wallrock. Quartz rubble samples are typically collected as aggregates of coarse material from specific intervals or horizons exposed within hand-dug pits that measure up to 2 metres in total depth. Company geological staff is responsible for collection and security of samples which are commercially shipped to either ALS Chemex Laboratories in Johannesburg, South Africa or Genalysis Laboratories in Johannesburg, South Africa or Perth, Australia for analysis. Both of these commercial firms are independent of Stockport and are fully accredited.
Jim Megann, Stockport Exploration President and CEO, commented, "results retuned to date from the Kasidho area of our SPL 214 license demonstrate that high-grade gold-in-quartz mineralization occurs in the near surface section in this area. We also believe that the bedrock source of this material represents a valuable future exploration target. The gold-bearing quartz rubble in the regolith presents potential for a small-scale surface mining program and further economic assessment of this opportunity is a corporate priority at this time. Our current two-phased assessment program will determine if a surface mining operation is economically viable."
Stockport intends to continue Phase 1 evaluation of SPL 214 and expects to determine if the Company will proceed to Phase 2 work program in 2014.
Significant Kasidho Assay Results
|Sample||*Easting (m)||*Northing (m)||Pit||Sample Width or Type||Gold g/t|
|307697||677848||9922640||2||Select quartz pebble sample - VG||325.65**|
|307691||677841||9922636||5||Select quartz pebble sample - VG||185.6**|
|307708||677848||9922625||7||Select quartz pebble sample - VG||32.81**|
|307712||677877||9922600||7||Select quartz pebble sample - VG||39.08**|
|307718||677853||9922672||14||Select quartz pebble sample - VG||59.52|
|BM225995||677397||9922628||NA||Rock sample oxidized zone||2.04|
|BM225998||677873||9922616||NA||Rock sample oxidized zone||96.6|
|BM226055||677876||9922613||NA||Quartz vein chip sample||10.1|
Notes: * UTM Coordination - Arc 1960 Zone 36S Datum; ** Fire assay screen metallics preparation; VG denotes visible gold
About Stockport Exploration Inc.:
Stockport is focused on the exploration of a district-scale land package along a prolific gold-hosting greenstone belt in southwest Kenya. The 2,020 km2 property package has potential to host various mineral deposit types, the most prominent being those of Lode-Gold and Copper-Zinc-Gold-Silver massive sulphide association. Stockport also holds the La Morena Copper-Silver property in Coahuila, Mexico, the Seymour Lake Tantalum-Lithium-Beryllium property near Armstrong, Ontario, and the KM61 property, which hosts a National Instrument 43-101 compliant Molybdenum-Copper-Silver resource, also near Armstrong, Ontario.
This press release was prepared under the supervision of Peter Webster, P. Geo., who is President of Mercator Geological Services Limited and a Qualified Person as defined under National Instrument 43-101. Mr. Webster has visited SPL 214 and reviewed the scientific and technical information in this press release. Standards, duplicates and blanks were submitted by Stockport with the samples reported in this release for QA/QC monitoring purposes. Samples were stored in numbered, tamper-proof tagged gunny sacks at a locked building onsite prior to delivery by Company vehicles and drivers to an independent preparation facility in Kisumu. Analytical results reported in this press release were provided by either ALS Chemex Laboratories in Johannesburg, South Africa or Genalysis Laboratories in Johannesburg, South Africa or Perth, Australia. Samples were typically analyzed using standard preparation procedures followed by gold analysis by FA/AA methods. Screen metallics assay methods were used for selected samples that are noted in tabulation of results that appears in this press release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com
SOURCE: Stockport Exploration Inc.
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