VANCOUVER, Jan. 27, 2015 /CNW/ - Theia Resources
Ltd. (TSX.V:THH) ("Theia") is pleased to announce an update of
exploration work completed during 2014 on the Fox and 2 X Fred
properties located in the Nechako Plateau of Central British Columbia, Canada.
2 X Fred
A machine trenching program conducted during
2014 has confirmed the discovery of a new low sulphidation vein
system in Central B.C.
Numerous veins have been found in low lying glacial covered
terrain over a 2.5 by 1.75 kilometer area. Individual veins can be
traced along strike in excess of 500 meters with widths ranging
from less than one meter to over 40 meters. At least 12
individual veins trending variously north-south to northeast have
been discovered. Some of the veins were blind to surface and
exposed by trenching into clay altered zones. The veins are steep
dipping overall.
Petrographic work and macroscopic textures indicate the system
is exposed in its upper levels above the level of the high grade
'bonanza' zone common in low sulphidation epithermal vein systems.
Petrographic work concluded that the textures observed are
indicative of a level of exposure within 150 meters of the original
paleosurface likely at temperatures less than 200 C and therefore
above the interval where high grade 'bonanza' mineralization would
be expected.
Given the very anomalous nature of all the veins exposed at such
a high level in the system means the potential for high grades
remains preserved at depth.
A total of 563 rock samples have been assayed to date and
averaged 0.4 gpt Au and 7.1 gpt Ag. Of the 244 channel and
composite rock samples taken from 16 trenches an average of all the
samples assayed 0.49 gpt Au and 8.7 gpt Ag. . The highest assay
value from sampling reported 5.5 gpt Au and 100 gpt Ag. The
longest continuous exposure of vein material totaling 24 meters
averaged 0.53 gpt Au and 6.9 gpt Ag and the highest grade was 1.52
gpt Au and 24.2 gpt Ag over 3.65 meters.
To view full results of the trench sampling program for the 2 X
Fred visit: 2 X Fred Overview and Saki Goldhill Vein.
Follow up exploration will consist of a preliminary drill
program testing the principle quartz veins with broadly spaced
sections testing to depth for evidence of increasing grades for the
existence of an low sulphidation high grade zone at depth. The next
phase of work will entail additional trenching and drilling of the
principal veins to test for high grades at depth.
The 2 X Fred property is located a 30 minute drive south of
Vanderhoof, B.C.
Fox
A total of 12 trenches were hand cleared and
channel sampled in 2014. The discovery zone trench was opened
up for a strike length of 16 meters and 17 channel samples over an
average width of 0.9 meters reported an average assay grade of 6.5
gpt Au and 1194 gpt Ag. The zone remains open along strike. A
total of 6 different zones of mineralization over an area of 400 by
100 meters were trenched and sampled with zones up to 5 meters of
length.
To view full results of the trench sampling program for the Fox
property visit: Fox Trenching
Multiple zones of mineralization are exposed over a 1 square
kilometer recently logged topographic high. High grades up to 45
gpt Au and 7300 gpt Ag occur in open space quartz veins, stockworks
and breccias controlled by NNE and NW interconnected conjugate
fracture sets of upto 5 meters wide occurring throughout the 1
square kilometer area. The mineralized zones are hosted within
moderate to strong argillic/sericitic and silicic alteration within
felsic pyroclastics and hybabyssal intrusives of the Oosta Lake
Group.
Petrographic work shows micro veinlet's of quartz within a
matrix of K-spar with phenocrysts of plagioclase with potassic
feldspar rims. Argillic and sericitic alteration is confirmed along
with minor amounts of chlorite and tourmaline. Sulfides are
primarily fine grained pyrite with gold as electrum and silver as
electrum and argentite after galena. Minor amounts of sphalerite
are also observed.
Potential exists for high grade structurally controlled
mineralization as evidence by the Discovery or C zone and for bulk
mineable disseminated style mineralization if the conjugate
fractures occur with sufficient density.
Follow up exploration will test these two thesis's and will
consist of a broad based soil geochemical program followed by
mechanized trenching. A test program of soil sampling shows
mineralization is reflected in low level gold anomalous soil. An
overall thin veneer of glacial drift and soils in the order of less
than one meter makes soil sampling and trenching an effective
exploration tool.
The project is located about one hour drive to the southwest of
Fraser Lake, B.C.
QA/QC
Samples were assayed using a high-grade
multi-acid digestion ICP analysis conducted and prepped by ALS
Chemex of North Vancouver, B.C.,
Canada. Further Quality
Assurance and Control procedures and details on assays procedures
and laboratories used are disclosed on the Kootenay Silver Inc.
website.
The foregoing geological disclosure has been reviewed and
verified by Mr. James McDonald,
P.Geo (a qualified person for the purpose of National Instrument
43-101, standards of disclosure for mineral projects). Mr.
McDonald is CEO of Kootenay Silver Inc. ("Kootenay") who is the
optionor of the Fox and 2 X Fred properties to the Theia.
Terms of agreement
The Fox and 2 X Fred properties are
under option agreement from Kootenay. To earn a 60 percent interest
Theia must spend an aggregate total of $2.5
million on exploration over a five year period and issue up
to an aggregate total of 750,000 shares to Kootenay. For more
information review Theia's news release dated January 12, 2015.
ABOUT THEIA
Theia Resources Ltd. is an exploration
company focused on precious metals deposits located in politically
stable jurisdictions. The company intends to leverage management's
network and experience within the exploration and finance sector to
maximize shareholder value.
ABOUT KOOTENAY
Kootenay Silver Inc. is actively
developing mineral projects in the Sierra Madre Region of
Mexico and in British Columbia, Canada. Its flagship
property is the former producing Promontorio Silver mine in Sonora
State, Mexico. Kootenay's
objective is to develop near term discoveries and long-term
sustainable growth. Its management and technical team are proven
professionals with extensive international experience in all
aspects of mineral exploration, operations and venture capital
markets. Multiple, ongoing J/V partnerships in Mexico and Canada maximize potential for additional, new
discoveries while maintaining minimal share dilution.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this
release.
Forward-Looking Statements: The
information in this news release has been prepared as at
January 26, 2014. Certain
statements in this news release, referred to herein as
"forward-looking statements", constitute "forward-looking
statements" under the provisions of Canadian provincial securities
laws. These statements can be identified by the use of words
such as "expected", "may", "will" or similar terms.
Forward-looking statements are necessarily based upon a
number of factors and assumptions that, while considered reasonable
by Theia as of the date of such statements, are inherently subject
to significant business, economic and competitive uncertainties and
contingencies. Many factors, known and unknown, could cause
actual results to be materially different from those expressed or
implied by such forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date made. Except as
otherwise required by law, Theia expressly disclaims any obligation
or undertaking to release publicly any updates or revisions to any
such statements to reflect any change in Theia's expectations or
any change in events, conditions or circumstances on which any such
statement is based.
Cautionary Note to US Investors: This news
release may contain information about adjacent properties on which
we have no right to explore or mine. We advise U.S. investors that
the SEC's mining guidelines strictly prohibit information of this
type in documents filed with the SEC. U.S. investors are cautioned
that mineral deposits on adjacent properties are not indicative of
mineral deposits on our properties. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such
statements.
SOURCE Theia Resources Ltd.