2013-01-16 22:08:54 -
Vancouver, British Columbia CANADA, January 16, 2013 /FSC/ - Deer Horn Metals Inc. (DHM - TSX Venture, GODYF - OTCBB_Pink),is pleased to inform its shareholders of two recent developments. Firstly we have received results from a 10-day prospecting program completed on the Deer Horn property, located in West Central British Columbia approximately 36 kilometers south of the Huckleberry Mine. Secondly we have hired Moose Mountain Technical Services (MMTS) to produce a Preliminary Economic Assessment (PEA) of the Deer Horn property. The (PEA) will be focused on the near surface high grade gold /silver/tellurium zone which has a current NI43-101 resource calculation dated April 17/2012.
The helicopter-supported program took place from September 9 - 19, 2012. It 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. A total of 98 samples were collected and analyzed; brief descriptions of the zones are provided below and analytical highlights are listed in the attached table.
Deer Horn Vein System
Sampling of discrete veins in the Saddle, New Vein, Pry Bar and New West zones, returned numerous high-grade silver-tellurium values with lower grade gold values. Individual quartz-polymetallic sulphide veins locally exceed 1.4 m in thickness and are typically moderately south dipping. They primarily occur within foliated diorite or within a broad quartz-sericite alteration zone above a fault contact between the diorite and underlying clastic sedimentary rocks. Samples grade up to 633 g/t Ag, 0.92 g/t Au and 357 g/t Te and are typically elevated in copper, lead and zinc. Several of the Saddle zone samples also returned high bismuth values (up to 1240 ppm Bi).
The four zones cover a strike length of more than 900 metres. The westernmost veins at the Pry Bar and New West zones 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.
Harrison Scheelite Zone
Sampling of newly recognized tungsten mineralization from the historic Harrison Scheelite occurrence, centered approximately 680 m southwest of Lindquist Peak, produced encouraging results. Composite chip samples were collected from bedrock exposures that included bands of disseminated scheelite crystals within calc-silicate altered tuffaceous limy siltstones. Samples grade up to 4750 ppm W (0.60% WO3). The style of mineralization is similar to that observed in the footwall of the Contact Zone. Several 2011 drillholes, collared more than 650 m to the east of the 2012 surface showings, intersected scheelite-bearing, calc-silcate altered limy volcanic sediments, including DH11-119 that encountered 3.00 m averaging 0.23% WO3. The new showings also occur upslope and at least 170 m northwest of the areas trenched in 2011 where sample results included 6 m averaging 1.08% WO3.
H-Spot and Pond Zones
The H-Spot zone is a new 2012 discovery. It consists of potassic-altered granodiorite containing coarse aggregates of pyrite and, locally, bands and patches of intergrown magnetite-chalcopyrite. Samples collected from this zone produced results as high as 4240 ppm Cu and 6.6 g/t Ag. The nearby Pond zone and Pond North zone consist of bleached and pyrite-altered diorite and intermediate volcanics, respectively. These pyritic rocks were not elevated in base or precious metals, but may represent elements of an alteration system that flank a hidden porphyry copper system.
Tyrone Docherty says, "Management of Deer Horn Metals is excited with the progress at the Deer Horn property and the commencement of the PEA report. We anticipate receiving the report this quarter. Management is buoyed by the enthusiasm of the QP and the field crew who conducted the work program. Important / impressive new discoveries were made during the limited program. In addition the western extension of the precious gold-silver-tellurium vein system, areas that can readily be drilled, provides an excellent opportunity to add to the resource base of the property."
Rock samples from the program were sent to SGS Canada Inc in Vancouver, BC, for analysis. All samples were analyzed for a suite of elements using a 4-acid digestion with an ICP-MS finish and for gold by fire assay. Samples returning more than 100 ppm silver were re-analyzed utilizing standard fire assay methods. Certified reference blanks and standards were systematically inserted into the sample stream as part of the quality control/quality assurance program.
*To view this table please click on the link at the bottom*
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
Deer Horn Metals Inc.
(604) 952 7221
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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