Gold-Bearing Quartz Vein System Discovered By Saturn Minerals in Bedrock on McKee Creek Property Near Atlin, B.C.
Posted on: Wednesday, 5 December 2007, 12:00 CST
Preliminary rock sampling and detailed structural mapping programs completed in 2007 by Saturn Minerals Inc. (TSX-V: SMI) resulted in the discovery of gold-bearing quartz veins on the McKee Creek property. The McKee Creek property is located approximately 15 km (with road access) SE of the town of Atlin, NW British Columbia (see map), and consists of 7 tenures totaling 499 hectares. McKee Creek is one of the most prolific placer gold-producing creeks in the Atlin Gold Camp.
The 2007 programs were designed to explore for gold in bedrock underneath the known gold-bearing placer deposits on the McKee Creek property. Selected samples taken by Saturn personnel from quartz and quartz-carbonate veins returned gold values ranging from 1.07 to 7.73 grams per tonne gold. The gold values reported by Saturn are believed to be the first identification of a gold system in bedrock on the McKee Creek property.
The property is situated in a broad compressional tectonic belt related to thrust faulting of rocks of the Cache Creek Group. Strong tectonic deformation along prominent faults is overprinted by listwanite alteration. Listwanite results from the progressive hydrothermal alteration of ultramafic and adjoining rocks, and includes serpentinization, carbonatization and development of quartz veins. The most advanced alteration is characterized by profound carbonate replacement and the presence of mariposite (a green chrome mica). High-grade free gold mineralization is usually restricted to quartz veins.
High-grade gold veins associated with listwanite alteration were first identified by Russian geologists in the Ural Mountains. Subsequently, similar association has been found in several gold camps in western North America, including the famous Motherlode camp in California, and the Cassiar, Bralorne, Barkerville and Atlin camps in British Columbia. Diamond drilling on the Yellowjacket property, located 8 km east of Atlin, in a similar listwanite setting, has returned bonanza gold grades. The Yellowjacket property is being developed by Prize Mining Corp., and the high-grade gold values are reported in the Prize Mining Corp. news release dated April 28th, 2004.
In 2007, Saturn Minerals also conducted additional reconnaissance surveys and limited rock sampling in other listwanite related areas of the Atlin camp. Assays from this program are pending.
Krzysztof Mastalerz, Ph.D., P.Geo., a qualified person under 43-101 standards, has prepared and approved the technical information contained in this release.
The map associated with this press release can be found at this link http://www.usetdas.com/maps/saturn/McKeeCreekMap.pdf
SATURN MINERALS INC.
"Mike Elson"
Mike Elson, President
Distributed by Filing Services Canada and retransmitted by Marketwire
Mike Elson President 604-687-4456 Email Contact
SOURCE: Saturn Minerals Inc.
Source: MARKET WIRE
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