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TORONTO, Sept. 17 /CNW/ - Starfield Resources Inc. (TSX: SRU/OTCBB:
SRFDF) today announced the start of its fall platinum group element (PGE)
drilling program at the Company's Ferguson Lake property in Nunavut.
The program aims to diamond-drill between 12,000 and 15,000 metres or
about 45 holes into the discovery zone. Activities will seek to further define
low-sulphide, high-grade PGE potential that was previously discovered
50 metres below and parallel to the 43 million-tonne massive sulphide
resource. To date 65 holes have been drilled in the zone, but drill holes are
broadly distributed over more than a kilometre, which is insufficient density
to calculate a resource.
"The exploration drilling program has been one of our main priorities
this year, and we're very excited about getting the new program under way."
said André J. Douchane, President and CEO of Starfield.
"This year's drilling will be executed on a closely spaced grid to
establish continuity and begin building a resource model," said Michael G.
Moran, Starfield's Director of Engineering. "As the concept is proven, and if
sufficient continuity exists to generate a resource model, the drill hole
spacing will be stepped out."
Starfield's board of directors has approved a budget of $4.5 million for
this drilling program, which will be funded from cash on hand.
In the Ferguson Lake Igneous Complex (FLIC), the gabbro-hosted LS-PGE is
located about 50 metres below the Ni/Cu/Co/Pd/Pt massive sulphide lenses.
Previously, it was not the focus of delineation drilling of the massive
sulphide resources, which are estimated to contain 3.0 million ounces of
palladium and 0.5 million ounces of platinum (report by Dr. N.C. Carter, P.
Eng., May 15, 2006).
The new all-season camp, located north of the main west zone, will
support the drilling program into December again this year. Drill holes are
planned to be 200 to 300 metres in length. At the activity level provided for
in the program, that would total 3,000 to 4,000 metres drilled per month,
depending on conditions and crew availability.
The 2007 drilling campaign is planned to continue the exploration of the
LS-PGE horizon along strike in the main west zone in the area foreseen as the
possible location of an open pit mine. Previous drilling has intercepted this
South African style of PGE mineralization along a strike length exceeding one
Starfield Resources Inc. is an advanced exploration and emerging early
stage development company focused on its Ferguson Lake
Nickel-Copper-Cobalt-Platinum-Palladium property in Nunavut, Canada. The
property is emerging as Nunavut's largest ongoing base and precious metal
project. Starfield has developed a novel, environmentally friendly and
energy-efficient hydrometallurgical flowsheet to recover platinum, palladium,
cobalt, nickel and copper from massive sulphides at Ferguson Lake.
This news release may contain forward-looking statements, including those
describing Starfield's future plans and the expectations of management that a
stated result or condition will occur. Any statement addressing future events
or conditions necessarily involves inherent risk and uncertainty. Actual
results can differ materially from those anticipated by management at the time
of writing due to many factors, the majority of which are beyond the control
of Starfield and its management.
For further information:
For further information: André J. Douchane, President and Chief
Executive Officer, Starfield Resources Inc., (416) 860-0400 ext. 222,
firstname.lastname@example.org; Colin Languedoc, Senior Account Executive, Barnes
McInerney Inc., (416) 367-5000 ext. 249, email@example.com