Senator Drills 770 ft of .309% Cu, .038% Mo, .33g/t Gold; Publishes Inferred Resource
Posted on January 18, 2010 at 10:25 AM EST
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/18/10 -- Senator Minerals Inc. ("Senator" or "the Company") (TSX VENTURE: SNR)(FRANKFURT: T1K) announces that it has received an updated independent Technical Report from Edward Harrington of Reliance Geological Services giving results of the 2008 drill program on the Taurus property, southeastern Alaska and, for the first time, calculating an inferred resource.
The following information quotes directly from the Technical Report:
"In 2008, Senator carried out a core drilling program on the Taurus property consisting of three vertical NQ2-size holes totaling 3,179 feet (969 meters).
T08-40 was located to test to the north, and up-slope, of previous East Taurus drilling, while T08-41 and T08-42 were designed to test to the west and east respectively. Holes were placed within 600' of previously drilled holes in order to qualify all holes for resource development calculations.
All three holes returned significant mineralized intervals:
- T08-40: 116 feet grading 0.186% copper, 0.038% moly, 0.33 g/t gold and 772 feet grading 0.309% copper, 0.036% moly, 0.245 g/t gold;
- T08-41: 179 feet grading 0.258% copper, 0.021% moly, 0.149 g/t gold; and
- T08-42: 57 feet grading 0.232% copper, 0.004% moly, 0.015 gold.
An inferred mineral resource at Taurus is estimated at 75,268,894 million tons grading 0.275% copper, 0.032% molybdenum, and 0.166 g/t gold. The estimated inferred resource would contain 414 million pounds of copper, 48 million pounds of molybdenum, and 401,000 ounces of gold.
In order to calculate this inferred resource, the following assumptions, parameters, and methods were used:
- Results were used from ten "qualified holes" only, being those that were drilled vertically and had three holes within 600 feet. Average distance between holes was 474 feet;
- These ten holes averaged 824 feet in depth;
- An area of influence with a radius of either 250 or 300 feet was centered on the qualified holes in order to best reduce voids;
- Where areas of influence overlapped, the overlaps were subtracted from the total of the individual areas;
- Where overlaps were considered too complex, area calculations were carried out using triangle geometry;
- Once an area of influence was calculated for an individual drill hole, tonnage was calculated using drill-indicated intervals. Tonnage is based on 168 pounds per cubic foot of rock;
- Weighted averages were calculated using drill-indicated grades in order to arrive at a final inferred resource grade estimate. Cut-off grades of 0.1% Cu and 0.01% Mo and .1 g/t gold were used; and
- Historical drill holes were included along with more recent drilling, but four of the historical holes had not been assayed for gold, so when an interval from an historical hole was used for copper and molybdenum, the gold value was assumed to be zero."
The full Technical Report is available on the Company's web site at: http://www.senatorinc.com/Properties/Taurus/TR-Jan10.pdf
Senator Minerals Inc is a TSX-V-listed junior exploration company with a diverse portfolio of property interests in North America, including a 100% interest in the Taurus copper-moly-gold deposit in southeastern Alaska, a 50% interest in a bentonite target near Midas, NV, and a 100% interest in 40,000+ hectares of coal prospecting permits in the Montreal Lake area, Saskatchewan.
Senator also holds 1% NSR's on the Rosebud gold-silver prospect in northwestern Arizona and on both the Okey and Key high grade copper prospects in northeastern British Columbia.
This news release has been reviewed and approved by the author of the Taurus Technical Report, Edward Harrington, PGeo and an independent Qualified Person, and by Richard Redfern, CPG, Qualified Person and a director of Senator Minerals Inc.
This News Release was prepared on behalf of the Senator Board of Directors, which accepts full responsibility for its contents.
ON BEHALF OF THE BOARD
Donald A (Tony) Simon, BComm, CA, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here