Fifth New Bonanza Silver-Lead Vein S6 Identified Drills on S14 Vein Confirm Bonanza Grades Continue to Depth at Ying Silver Project, Henan Province, China
January 28, 2005
VANCOUVER, BRITISH COLUMBIA--SKN Resources Ltd. ("SKN") is pleased to report that on its Ying Silver Project located in Henan Province:
> A fifth bonanza Silver (Ag)-Lead (Pb)-Zinc (Zn) vein, S6, has been identified and confirmed by assay to contain massive galena sheets (MGS) up to 1.14 metre (m) in thickness with extremely high Ag and Pb grades. Galena is a naturally occurring lead sulphide, frequently associated with silver, which when pure contains 86% lead.
> The most significant interval from the S6 vein contains 3,005 grams per tonne (g/t) or 96.61 ounces per tonne (oz/t) Ag, 58.34% Pb, and 10.31% Zn over 0.2 m.
> Out of 40 known veins on the Ying project, S6 is the fifth vein (in addition to previously reported veins S2, S14, S16E, and S16W) in which high grade MGS is confirmed. The majority of the remaining known veins have yet to be investigated.
> On the S14 vein, the first five drill holes, drilled from the lowest tunnel at 518m elevation, confirm that the MGS in S14 vein extends down to the 440m elevation. The most significant intercept, from drill hole ZK802, is 3,942 g/t or 126.74 oz/t Ag, 49.57% Pb, and 1.91% Zn over 0.62 m.
> Current underground drill and tunneling results on the S14 vein, together with a previously reported surface hole (ZK0816), indicates that the high grade MGS in the S14 vein (average 1,972 g/t Ag or 63.39 oz/t Ag, 46.23% Pb and 3.75% Zn, with an average width of 0.37m) may extend over 390m in the downdip direction and 700m along strike.
S6 Vein
The S6 vein, located between veins S2 and S14 (see tunnel map on www.sknresources.com), was previously mapped by surface trenching and limited tunneling. The vein structure extends northeasterly over 1.16 kilometres (km) and dips steeply to the southwest. The S6 vein was exposed by prior mining tunnels at three elevations: 555m, 535m, and 518m. Limited tunneling and old mining pillars confirm the existence of the MGS in the S6 vein, however, its continuity and extension is poorly understood at present. Further drifting is planned on the S6 vein. Assay results of channel samples are:
|
Elevation
(m) |
Distance South of CM103 intersection |
Width (m) |
Ag (g/t) |
Ag (oz/t) |
Pb (%) |
Zn (%) |
Ag Equiv. (g/t)* |
Ag Equiv. (oz/t)* |
|
555 |
343 |
1.14 |
1648 |
52.98 |
34.46 |
6.22 |
3397 |
109.23 |
| |
387 |
0.10 |
1768 |
56.84 |
69.62 |
1.03 |
4755 |
152.87 |
| |
409 |
0.20 |
3005 |
96.61 |
58.34 |
10.31 |
5956 |
191.50 |
|
535 |
426 |
0.15 |
977 |
31.41 |
38.57 |
14.97 |
3315 |
106.59 |
|
518 |
306 |
0.10 |
706 |
22.70 |
9.36 |
8.24 |
1492 |
47.97 |
| |
310 |
0.10 |
1144 |
36.78 |
35.22 |
2.03 |
2727 |
87.66 |
| |
434 |
0.10 |
1342 |
43.15 |
17.42 |
29.02 |
3455 |
111.07 |
|
Weighted Average |
0.27 |
1652 |
53.1 |
36.98 |
8.16 |
3600 |
115.75 |
* Silver equivalent grade is calculated on the basis of US$6.5/oz Ag, US$0.40/lb for Pb, and US$0.45/lb for Zn
S14 Vein Underground Drilling
Two electric rigs are contracted to conduct underground core drilling on the S14 vein from tunnel at the 518m elevation. The drill program was initially drilled at 40 m centering to test the downdip extension of MGS in the vein (see "S14 vein longitude section" at www.sknresources.com for drill hole locations ). The assay results received for the first five holes are listed below.
|
Drill hole |
from (m) |
to (m) |
Interval (m) |
Distance South of CM103 |
Elevation (m) |
Ag (g/t) |
Ag (oz/t) |
Pb (%) |
Zn (%) |
Ag Equiv. (g/t)* |
Ag Equiv. (oz/t)* |
|
ZK1401 |
39.75 |
40.55 |
0.80 |
228 |
481 |
179 |
5.76 |
6.13 |
3.66 |
611 |
19.66 |
|
ZK804 |
81.64 |
82.07 |
0.43 |
558 |
480 |
3215 |
103.37 |
54.37 |
0.86 |
5550 |
178.44 |
|
ZK805 |
72.07 |
72.46 |
0.39 |
583 |
480 |
1048 |
33.69 |
19.00 |
1.30 |
1911 |
61.46 |
|
ZK1402 |
65.53 |
65.83 |
0.30 |
229 |
452 |
1717 |
55.20 |
24.70 |
30.19 |
4192 |
134.79 |
|
ZK802 |
90.97 |
91.59 |
0.62 |
569 |
440 |
3942 |
126.74 |
49.57 |
1.91 |
6124 |
196.91 |
|
ZK0816** |
255.00 |
255.30 |
0.30 |
537 |
360 |
1780 |
57.23 |
23.60 |
3.70 |
2952 |
94.89 |
** Surface hole drilled by previous operator in 2002 . It was sampled and assayed by SKN.
Quality Control
Rock samples were collected by channel sampling the face of the undercut drifts. The channels were usually cut 10 cm wide and 5 cm deep producing a sample weighing approximately 2 kg to 10 kg for each 0.10 to 1.00 m interval depending on the thickness of mineralization.
The drill cores are in NQ size and drill core samples were taken from sawn half core limited by apparent MGS contact.
The Company has implemented a quality control program to ensure best practice in sampling and analysis of the tunnel samples. The samples are shipped directly in security sealed bags to the Langfang Institute of Geochemical and Geophysical Exploration (Certification ISO 9001), a well-regarded analytical laboratory in Langfang, Hebei Province, approximately 60 km from Beijing.
The sample preparation consists of drying, crushing, splitting of the sample to 150 grams, then the sample is pulverized to 200 mesh. Ag, Pb and Zn were analyzed by a 3 hour hot aqua regia digestion on 30 gram samples with an AA finish. Check samples including field duplicates and pulps are routinely sent to ALS Chemex Laboratories in Vancouver Canada for assay accuracy and sample contamination.
Myles Gao, P.Geo, President of SKN, is overseeing the YING exploration program, and is the Qualified Person on the Project and is responsible for overseeing the preparation of this release.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
For further information: SKN RESOURCES LTD., Rui Feng, Chairman & CEO
Phone: (604) 669-9397, Fax: (604) 669-9387, Email:
info@sknresources.com, Website:
www.sknresources.com
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