October 20, 1997
Columbia Yukon Announces 4 Intervals of Massive Sulphide Mineralization Intersected VBE-1 Project, LabradorVANCOUVER, BRITISH COLUMBIA--Columbia Yukon Resources Ltd. (the "Company") as operator and International CanAlaska Resources Ltd. reports on the VBE-1 program (being conducted with participation and support of Falconbridge Ltd) that drill hole 97-7 intersected a 7.2 metre (23.8ft) section with intervals of semi-massive pyrrhotite and chalcopyrite mineralization between 754.6 and 761.8 metres depth. A further 2.6 metre (8.6ft) interval with 5-10% sulphides overall, and including 10-20cm massive sulphide pods of pyrrhotite and chalcopyrite was intersected between 775.7 and 778.3 metres. Pyrrhotite is an iron sulphide mineral that can contain nickel, and chalcopyrite is a copper-iron sulphide.
Analyses of massive sulphide-bearing xenoliths intersected earlier in the hole, at a depth of 430 metres, returned up to 1% combined copper/nickel. Assays of the massive sulphides encountered in the deeper interval range between 0.1% and 0.28% nickel, with comparable copper values. While these are not economic grades, the hole is passing into a deeper part of the intrusive system and returning increasing amounts of sulphides.
Hole 97-7 has continued through anorthosite to three massive sulphide intervals with pyrrhotite and chalcopyrite at between 840 and 885.7 metres assays for these intercepts are pending. The massive sulphides occur at the base of noritic units that are each overlain by anorthositic units. This is typical of the type of differentiation and sulphide settling that must occur to form the Eastern Deeps type of deposit. It is not unusual to find this type of lower grade mineralization above basal ponding of massive sulphides.
Drilling of 97-7 is currently at 1043 metres, having passed through more anorthositic intervals with some quartz monzonite sills or dykes. Over 400 metres remain before reaching target depth. This drill hole is located in the northwest part of VBE-1, on a site selected to test the highest concentration of mafic rocks exposed on the property in an area where several showing of copper/nickel sulphides wee identified in the 1995 and 1997 programs conducted by Northeast Exploration Services and MPH Consulting Ltd, respectively.
The deep drilling program on VBE-1 is testing for potential eastward extensions of the massive sulphide mineralization being developed on the neighbouring property by INCO Hole 97-7 is in a geological setting that may be an uplifted structural block croded to expose deeper levels in the favourable intrusive rocks, where there is the best potential for discovering massive sulphide mineralization. 97-7 will continue to a targeted depth of 1,500 metres and is expected to be complete by the end of October.
ON BEHALF OF THE BOARD OF DIRECTORS
MICHAEL S. GUSTAVSON, DIRECTOR
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