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Feb 23, 2004
Kermode Reports Jackson's Arm Drill Results
#2004-03
Kermode Resources Ltd.'s continuing drill program on its Jackson's Arm property in Newfoundland has returned additional results detailed in Table 1.
Phase 1 of the drill program was designed to test sediment - hosted gold mineralization in the Beaver Dam Zone.
Phase 2 of Kermode's Jackson's Arm drill program will commence shortly and will test mineralized structures in the Road Zone, sediment-hosted gold mineralization in the northern part of the Apsy Zone and coincident gold and arsenic soil geochemical anomalies further north.
Phase 3 of the drill program will include additional drilling in the Phase 1 and Phase 2 areas as required and drill testing of newly discovered coincident gold and arsenic soil geochemical anomalies in the eastern part of the property.
Highlights of the results to date include:
- Kermode's drill program has substantially improved on BP/Selco's results in the Beaver Dam Zone.
- The Beaver Dam gold mineralizing system is thick and robust.
- Higher grade gold consistently occurs at a specific stratigraphic horizon at the Beaver Dam Quartzite/ Forteau Formation contact.
- Mineralization has been encountered over a strike length of 500 metres.
- The mineralization is open to the north.
- The mineralization displays many of the characteristics found in the Carlin Trend Gold Deposits in Nevada.
Mr. Don Moore, President of Kermode commented "I am very pleased and excited with the drill results obtained so far. We are in the early stages of exploration of the large Jackson's Arm property. Our new hypothesis that the gold mineralization at Jackson's Arm has close similarities to that at Carlin, Nevada has gained support from the drilling. Our ultimate goal is to demonstrate that Jackson's Arm hosts a number of gold deposits that will constitute a new, significant gold belt in Canada."
Kermode has now completed ten drillholes totaling 975.8 metres on the Beaver Dam Zone. Results are detailed in Table 1. BP/Selco discovered the Mineralization in 1990 during their last field program at Jackson's Arm. BP/Selco drill results are detailed in table 2.
Table 1 - Results from Kermode's recent drilling on the Beaver Dam Zone
Table 2 - Results from BP/Selco's historical drilling on the Beaver Dam Zone
Kermode's primary exploration focus at Jackson's Arm continues to be on the discovery of high-grade sediment hosted gold deposits similar to those at Carlin, Nevada. There are also opportunities to develop a bulk tonnage gold deposit in the granites and/or the sediments although these are a secondary objective for Kermode at the present time.
Visit our website at www.kermode.com for more information.
ON BEHALF OF THE BOARD OF DIRECTORS
"D. Neil Briggs"
DIRECTOR
No Stock Exchange Has Approved or Disapproved The Information Contained Herein
Kermode Resources Ltd.'s continuing drill program on its Jackson's Arm property in Newfoundland has returned additional results detailed in Table 1.
Phase 1 of the drill program was designed to test sediment - hosted gold mineralization in the Beaver Dam Zone.
Phase 2 of Kermode's Jackson's Arm drill program will commence shortly and will test mineralized structures in the Road Zone, sediment-hosted gold mineralization in the northern part of the Apsy Zone and coincident gold and arsenic soil geochemical anomalies further north.
Phase 3 of the drill program will include additional drilling in the Phase 1 and Phase 2 areas as required and drill testing of newly discovered coincident gold and arsenic soil geochemical anomalies in the eastern part of the property.
Highlights of the results to date include:
- Kermode's drill program has substantially improved on BP/Selco's results in the Beaver Dam Zone.
- The Beaver Dam gold mineralizing system is thick and robust.
- Higher grade gold consistently occurs at a specific stratigraphic horizon at the Beaver Dam Quartzite/ Forteau Formation contact.
- Mineralization has been encountered over a strike length of 500 metres.
- The mineralization is open to the north.
- The mineralization displays many of the characteristics found in the Carlin Trend Gold Deposits in Nevada.
Mr. Don Moore, President of Kermode commented "I am very pleased and excited with the drill results obtained so far. We are in the early stages of exploration of the large Jackson's Arm property. Our new hypothesis that the gold mineralization at Jackson's Arm has close similarities to that at Carlin, Nevada has gained support from the drilling. Our ultimate goal is to demonstrate that Jackson's Arm hosts a number of gold deposits that will constitute a new, significant gold belt in Canada."
Kermode has now completed ten drillholes totaling 975.8 metres on the Beaver Dam Zone. Results are detailed in Table 1. BP/Selco discovered the Mineralization in 1990 during their last field program at Jackson's Arm. BP/Selco drill results are detailed in table 2.
Table 1 - Results from Kermode's recent drilling on the Beaver Dam Zone
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Hole Grid Co-ordinates Core
Metres Length Azimuth Dip From To Length Gold
Number East North Metres Degrees Deg. Metres Metres Metres g/t
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JA-03-01 101+25.5 71+98 93.0 -90 58.6 91.8 33.2 1.17
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including 58.6 81.2 22.6 1.52
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including 60.2 63.5 3.3 5.03
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including 62.5 63.5 1.0 10.02
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JA-03-02 101+25 71+98 93.0 292 -50 42.1 87.5 45.4 0.57
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including 42.1 72.0 29.9 0.71
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including 47.4 49.1 1.7 4.96
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including 48.2 48.7 0.5 9.77
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JA-04-03 101+46 72+25 108.2 292 -50 58.0 104.8 46.8 0.44
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including 64.5 96.2 31.7 0.57
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including 65.5 68.5 3.0 2.65
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including 68.2 68.5 0.3 11.59
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JA-04-04* 101+53 72+50 111.3 292 -50 61.5 108.2 46.7 0.38
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including 66.7 84.3 17.6 0.55
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including 66.7 68.6 1.9 2.00
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including 67.7 68.6 0.9 3.47
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JA-04-05* 100+76 72+00 61.0 290 -50 9.7 25.9 16.2 0.17
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including 22.9 24.9 2.0 0.97
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including 24.6 24.9 0.3 1.39
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JA-04-06 100+76.5 72+00 65.5 -90 11.3 61.9 50.6 0.4
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including 13.4 38.7 25.3 0.63
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including 15.5 17.0 1.5 5.35
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including 16.5 17.0 0.5 8.06
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JA-04-07* 101+50 73+50 96.0 290 -50 44.0 44.5 0.5 1.46
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58.7 67.9 9.4 0.09
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84.0 87.1 3.1 0.79
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including 85.3 86.1 0.8 1.50
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JA-04-08* 101+26 73+00 81.7 290 -50 42.0 57.8 15.8 0.36
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including 55.4 56.3 0.9 1.17
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72.0 80.6 8.6 0.12
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JA-04-09 101+54 71+50 120.4 290 -50 71.3 107.9 36.6 0.78
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including 73.0 93.7 20.7 1.12
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including 73.0 79.2 6.2 3.11
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including 73.0 74.6 1.6 7.42
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JA-04-10 101+50 70+50 120.4 290 -50 70.7 93.0 22.3 0.46
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including 72.2 73.0 0.8 6.36
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and including 88.3 89.1 0.8 2.63
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107.0 107.6 0.6 2.46
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JA-04-11 102+26 74+00 25.3 290 -50 Abandoned due to deep
overburden
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* In drillholes JA-04-04, JA-04-05, JA-04-07 and JA-04-08 the Beaver
Dam Quartzite/Forteau Formation contact is not present because of
faulting. This missing section is the part of the stratigraphic
sequence where the higher-grade gold values occur in other drillholes.
The Jackson's Arm drilling program is supervised by Consulting
Geologist James Harris P.Geo. Qualified Person under National
Instrument 43-101 guidelines. New Valley Drilling of Springdale,
Newfoundland conducted the drilling. Assay samples are taken from
drillcore (NQ size) sawed in half using a diamond saw blade. One-half
the core is preserved in core boxes for future reference. The samples,
comprising the other half of the drillcore are bagged, sealed and
delivered directly to the analytical laboratory under the supervision
of Mr. Harris.
Samples were processed and analyzed at Eastern Analytical Ltd., an
accredited assay laboratory based in Springdale, Newfoundland. Samples
were crushed with a jaw crusher to 75% passing 10 mesh and split with
a riffle splitter to approximately 250 grams. This sample is then
pulverized to 95% passing 150 mesh and analyzed for gold utilizing
a half assay ton, fire assay technique plus ICP-11. All
analytical pulps and rejects are retrieved by Kermode and retained.
Kermode is implementing a quality control program.
Table 2 - Results from BP/Selco's historical drilling on the Beaver Dam Zone
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Hole Grid Co-ordinates Core
Metres Length Azimuth Dip From To Length Gold
Number East North Metres Degrees Deg. Metres Metres Metres g/t
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RB-46 101+50 68+00 110.9 290 -45 No significant mineralization
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RB-47 101+50 69+00 114.9 290 -45 No significant mineralization
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RB-48 101+56 70+00 116.7 290 -45 79.58 90.34 10.76 2.03
including 82.48 84.43 1.95 7.55
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RB-49 * 101+50 71+04 118.6 290 -45 69.13 116.74 47.61 0.42
including 71.14 107.91 36.77 0.49
including 71.14 73.20 2.06 3.26
including 71.14 72.11 0.97 6.25
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RB-50 101+88 73+00 37.2 290 -45 Abandoned due to deep
overburden
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RB-51 * 101+70 72+05 130.2 290 -50 84.95 130.15 45.20 0.75
including 87.78 112.18 24.40 1.15
including 87.78 96.80 9.02 2.57
including 94.73 96.80 2.07 7.36
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RB-52 102+18 73+00 148.4 290 -45 No significant mineralization
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RB-53 * 101+54 74+00 118.0 290 -45 76.14 117.96 41.82 0.49
77.31 82.33 5.02 1.21
77.31 78.06 0.75 2.44
102.07 102.57 0.50 2.68
106.71 107.71 1.00 2.82
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RB-54 101+59 75+00 1385.1 290 -45 No significant mineralization
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RB-56 102+00 70+00 156.7 290 -60 No significant mineralization
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RB-57 102+25 72+00 195.4 290 -75 No significant mineralization
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RB-58 102+86 73+17 203.3 290 -60 No significant mineralization
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RB-59 101+54 74+00 171.0 -90 119.79 135.80 16.01 0.12
134.42 135.13 0.71 1.48
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RB-60 102+50 71+00 203.3 290 -65 No significant mineralization
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RB-61 101+59 75+00 221.6 -90 No significant mineralization
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RB-62 * 101+70 72+05 126.5 290 -75 96.84 126.49 29.65 0.40
including 112.66 117.80 5.14 1.04
including 116.08 116.50 0.42 3.07
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RB-63 * 101+50 71+04 113.1 290 -80 85.34 113.08 27.74 0.10
including 86.70 87.91 1.21 1.12
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* In drillholes RB-49, RB-51 RB-53, RB-62 and RB-63 portions of the
interpreted mineralized zone have not been assayed. Sections not
assayed have been assigned a nil gold value when calculating average
values.
Kermode's primary exploration focus at Jackson's Arm continues to be on the discovery of high-grade sediment hosted gold deposits similar to those at Carlin, Nevada. There are also opportunities to develop a bulk tonnage gold deposit in the granites and/or the sediments although these are a secondary objective for Kermode at the present time.
Visit our website at www.kermode.com for more information.
ON BEHALF OF THE BOARD OF DIRECTORS
"D. Neil Briggs"
DIRECTOR
No Stock Exchange Has Approved or Disapproved The Information Contained Herein