Most Popular White Papers
First Narrows Quadruples Size of Susana D'Oro Copper-Gold Project in Sonora, Mexico
Market Wire, August, 2007
First Narrows Resources Corp. (TSX-V: UNO) (PINKSHEETS: FNRWF) ("First Narrows" or the "Company") is pleased to announce that Minera FNR de Mexico, S.A. de C.V., First Narrows' wholly owned Mexican subsidiary, has staked an additional 8,525 hectares (21,066 acres) adjoining the west side of the Susana D'Oro Property ("Susana" or the "Property") in the north-western state of Sonora, Mexico.
FNR either owns or has the right to earn a 100% interest in all Susana D'Oro claims, which now total 11,540.5 hectares (28,517 acres). Located approximately 100 to 120 kilometers (kms) east of the city of Hermosillo, the Property includes a former producer of copper, gold, and silver from three high-grade sulphide zones along a vein greater than 1,000 meters (3,280 feet) in length. Check assaying by the Company shows that potentially economic bismuth and magnetite-hematite are also present in the veins. Historical mining appears to have been limited, at least in part, by the height of the water table.
The newly staked area adjoins the west side of the existing Property, extending it a further 12 kms to the west where erosion has denuded the rolling hills that characterize the eastern part of the Property (where relief is up to 250 meters) to an alluvial and colluvial plain with low relief ( < 10's of meters). Known mineral showings occur up to the 'edge' of the alluvial-colluvial plain. The Company interprets the alluvial-colluvial cover as having effectively masked prospective underlying targets from the efforts of earlier prospectors. Today, however, with state-of-the-art exploration tools -- satellite imagery, geochemistry, geophysics, and mineral deposit modeling -- the Company has the opportunity to identify and define these buried and blind targets.
The Company's ASTER satellite image alteration study outlines a regional red Fe-Oxide bloom in the area staked. Within this bloom, where rusty-red colluvium is more intensely coloured, prospecting by the Company has located magnetite-hematite-quartz vein and granodiorite chips, some stained with secondary copper minerals.
Geologically, the Property lies within the western part of the copper-molybdenum porphyry and gold mineral belts. High-grade to low-grade copper-gold mineralized breccia systems occur proximal to the historical underground workings. Eluvial, colluvial, and placer gold occurrences are widespread on the Property.
The Company believes that the Property has significant discovery potential for high-grade Cu-Au-Ag-Bi (+/-Mo) veins that offer an opportunity for near-term production and cash flow. At the same time it is apparent that the geological setting is favourable for the occurrence of larger tonnage lower grade Cu-Au-Ag-Bi (+/-Mo) porphyry or breccia style deposits.
Mr. Earnest Brooks, P.Geo., the Company's Qualified Person, has visited the Property and has reviewed and approved the content of this news release. Exploration of the area will proceed following the completion of the NI 43-101 compliant Technical Report.
About First Narrows Resources Corp.:
First Narrows Resources Corp. (TSX-V: UNO) is a Canadian-based mineral exploration company whose corporate strategy is to develop overlooked and undervalued mineral properties that offer near term production potential. The Company has active projects in the Province of New Brunswick, Canada and in the State of Sonora, Mexico. The most advanced project is the 100%-owned Chester copper-polymetallic deposit in New Brunswick's Bathurst Mining Camp, which is rapidly moving forward to NI 43-101 mineral resource estimate and conceptual mine design status. For more information visit: www.uno.ca
ON BEHALF OF THE BOARD OF DIRECTORS "Peter K. Gummer"
Peter K. Gummer, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein. We seek safe harbour.
Distributed by Filing Services Canada and retransmitted by Marketwire
For Corporate, Media, or Investor Inquires contact: Greg Lytle Communications Manager First Narrows Resources Corp. Toll-free: (866) 285-5817 Vancouver: (604) 839-6946 Email: Email Contact First Narrows Resources Corp. Suite 402 - 1228 Hamilton Street Vancouver, BC, Canada V6B 6L2 Toll free: 866.285.5817 Tel.: 604.677.5143 Fax: 604.677.4702 Website: http://www.uno.ca