2012-10-11 14:04:30 -
Delta, British Columbia CANADA, October 10, 2012 /FSC/ - Deer Horn Metals Inc.("Deer Horn")(DHM - TSX Venture), announces that it has completed a 10-day prospecting program on the Deer Horn property, located in West Central British Columbia approximately 36 kilometers south of the Huckleberry Mine. The helicopter-supported program that took place recently evaluated several gossanous areas and ground-truthed a number of geophysical anomalies that were identified during a detailed assessment of 2011 airborne magnetic and radiometric survey data. Prospecting also evaluated the potential western extension of the Main Vein and Contact Zone gold-silver-tellurium vein system and areas in the vicinity of historic Harrison tungsten mineral occurrence.
Highlights of the work program include:
1) Discovery of the Pry Bar and New
West zones add 360 m to the strike length of the Main Vein and Contact Zone Au-Ag-Te system. The individual quartz-polymetallic sulphide veins sampled, some in excess of 1.4 m thick, occur within foliated diorite or within a broad quartz-sericite alteration zone at the structural contact between the diorite and underlying clastic sedimentary rocks. The westernmost veins crop out on steep north-facing slopes and continue west beneath large patches of snow pack. These new vein exposures bring the overall strike length of the Deer Horn vein system to more than 2,400 m.
2) Discovery of the Pond zone, a new copper zone recently revealed by melting of snow and ice, located 2,270 m west of Lindquist Peak. It consists of coarse blebs and knots of pyrite and traces of chalcopyrite and molybdenite in propylitic and potassic-altered diorite. Within 150 m is the H-Spot zone, a potassic-altered granodiorite containing coarse aggregates of pyrite and, locally, bands and coarse aggregates of intergrown magnetite-chalcopyrite. Dimensions of the H-Spot zone are unknown because it is covered by snow pack and glacial debris. Several other small showings of chalcopyrite were located nearby and additional pyrite-altered tuffaceous rocks were identified 450 m to the north. These exciting new showings may be evidence of a largely hidden porphyry copper system.
3) Combing of the historic Harrison tungsten occurrence area, 680 m southwest of Lindquist Peak, identified a number of trough-like features that may be sloughed in pits and trenches. One of these features may be the actual historic 'Harrison' bedrock trench that averaged 1.22% WO3 over 39.6 m. These numbers are not NI 43-101 compliant. A promising new showing, comprised of bands of disseminated scheelite crystals within calc-silicate altered tuffaceous, limy siltstones was discovered near these features on steep southeast facing slopes. The altered tuffaceous rocks strike westerly and dip moderately to the south. They occur upslope and at least 170 m northwest of the areas trenched in 2011 where sample results included 6 m averaging 1.08% WO3. The dimensions of the scheelite-bearing calc-silicate altered sedimentary rocks has not been determined.
Tyrone Docherty President and CEO says, "management is very pleased with the results of the recent prospecting program. The Deer Horn property continues to provide positive results. First and foremost is the fact that the overall length of the known near surface high grade Au/Ag/Te/ vein system has been increased to almost 2.5 kilometers. It is important to remember that our current NI 43-101 resource estimates were based on only 450 meters. Secondly the discovery of new showings close to the historic high grade tungsten showing is very encouraging. Finally, last but not least is the discovery of a previously unknown copper zone."
The Deer Horn project is managed and supervised by Bob Lane, PGeo, who has verified the contents of this press release and is the Qualified Person for the Deer Horn project.
On behalf of the board of directors of
Deer Horn Metals Inc.
(signed) "Tyrone Docherty"
President and CEO
For further information please contact:
Primary ContactTyrone Docherty
President
Deer Horn Metals Inc.
(604) 952 7221
tdocherty@deerhornmetals.com
Forward Looking Information
Certain information regarding the Company set forth in this press release, including the use of proceeds, and management's assessment of the Company's future plans and operations contain forward looking information that involve substantial known and unknown risks and uncertainties. The forward looking information is subject to numerous risks and uncertainties, some of which are beyond the Company's and management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, imperfection of reserve estimates, environmental risks, industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The Company's actual results, performance or achievement could differ materially from those expressed in or implied by, the forward looking information and accordingly, no assurance can be given that any of the events anticipated to occur or transpire form the forward looking information will provide any benefits to the Company.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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Source: Deer Horn Metals Inc. (TSX-V DHM)
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