Kenrich Announces Mobilization To Corey and Eskay Projects
Vancouver, BC – KENRICH-ESKAY MINING CORPORATION
(the "Company") is very pleased to announce that it is commencing its
2008 field programs at its Corey and Eskay (SIB) projects in
northwestern British Columbia. The Company’s exploration crews are
mobilizing to the field with drilling to commence shortly. Kenrich has
assembled an exploration property totaling 46,400 hectares (177 mineral
tenures) in the highly prospective Stewart-Eskay Creek mining camp.
The initial program between the Corey and Eskay projects will
include about 4200 metres of diamond drilling combined with geological
mapping and geochemical sampling. All work on both projects will be
conducted from the existing Corey camp, a 15 km helicopter flight from
the Eskay Creek mine road.
The Eskay Project
As per the news release of May 8, 2008, the Company has entered
into an agreement with St. Andrew Goldfields (SAS) whereby the Company
can gain an up to 80% interest the Eskay-area properties (the Eskay
Project) through a combination of issuance of shares, cash payment and
exploration commitments. Portions of the SAS properties lie within one
kilometre of the Eskay Creek mine.
The SAS properties optioned to the Company comprise 140 claims
totalling over 33,000 hectares. The property covers extensive areas of
highly prospective Hazelton and Stuhini Group geological units. Similar
rock formations host the Eskay Creek gold-silver deposits of Barrick,
as mentioned above, and also the nearby the Kerr-Mitchell-Sulphurets
copper-gold deposits of Seabridge Gold and the Snowfield gold deposit
of Silver Standard.
Perhaps of greatest immediate significance to the Company is the
SIB claim block that is located in the north central part of the SAS
property. The SIB claim block abuts the southern extremity of the
Barrick property. The SIB contains a continuous succession of Eskay
Rift rhyolite and mudstone, the host units to the Eskay deposits.
Furthermore, drilling by past operators led to the discovery of the
Lulu Zone, a gold, silver and base metal-enriched zone of stringer and
semi-massive sulphides having the same geochemical and geological
characteristics as the Eskay deposit. The best drill intercept at Lulu
returned a value of 14.43 g/t Au over 14.3 metres. Geochemical surveys
and follow-up diamond drilling by SAS and its predecessor company
Heritage Exploration led to the discovery in 2003 of the Hexagon Zone,
a broad area of hydrothermal alteration that hosts disseminated and
stringer sulphides and low grade gold enrichments that is likely
indicative of a large VMS-style hydrothermal system in the area east
and northeast of the Lulu Zone.
Work in 2008 will focus on the southern SIB area in the vicinity
of the Lulu Zone. Deep drilling will be testing the footwall side of
the Coulter Creek thrust fault which appears to have offset the
possible downdip and along strike extensions of the Lulu Zone
mineralization
The Corey Project
The Company intends to continue its aggressive exploration of its
100% owned Corey property. The focus in 2008 will be drill testing of
massive sulphide targets in the eastern portion of the property, namely
the Mandy Valley area east of the C10 Zone. The highest priority drill
targets for 2008 are the Red Lightning and Spearhead massive sulphide
occurrences. Recent geological work in this area has identified
polymetallic massive sulphide mineralization hosted by previously
unknown Eskay-age volcanic rocks. Drilling at Red Lightning in 2007
intersected a 0.5 metre interval that returned 1.6 g/t gold, 352 g/t
silver, 0.4% copper, 1.3% lead and 1.9% zinc.
With the addition of the SAS property, the Company can now explore
a 28 kilometre-long belt of prospective Eskay Rift geology that extends
continuously from the southern boundary of the Eskay property to the
southeast boundary of the Corey Property. The Company will be able to
apply the expertise gained from the detailed geological and
lithogeochemical surveys carried out recently on their Corey Property
to this greatly expanded exploration property. The Company’s geological
team are very enthusiastic about this new opportunity and look forward
to an exciting 2008 field season.
The geological portion of this release has been approved by Sean McKinley, M.Sc., P.Geo., the Company’s Qualified Person.
On behalf of The Board of Directors of Kenrich-Eskay Mining Corporation.
"Wally E. Boguski"
Wally E. Boguski,
President, CEO, Director
