Attention Business Editors: International Samuel Acquires Copper -Gold Property in North Central Manitoba
News release via Canada NewsWire, Vancouver 604-669-7764
Attention Business Editors:
International Samuel Acquires Copper-Gold Property in North Central Manitoba
VANCOUVER, April 6 /CNW/ - International Samuel Exploration Corp. (ISS: TSX-V) ("Company") is pleased to report that it has entered into an option agreement to acquire a 100% interest in the Rasp Copper-Gold Property from W.
S. Ferreira Ltd.
The Rasp Property contains a strong electromagnetic conductor with a gravity anomaly and a flanking magnetic anomaly. The strong electromagnetic conductor has a strike length of 600 metres. Only one previous drill hole was drilled at this conductor; diamond drill hole RA202-01 by Cominco Ltd. in 2001. This drill hole may not have intersected the conductor itself; instead the drill hole probably encountered stringer mineralization near the main conductor. Significant mineralization encountered in diamond drill hole RA202-01 is listed below:
<< Diamond Drill From To Interval Gold Copper Hole Metres Metres Metres g/t % ------------------------------------------------------------------------- RA-202-01 176.9 177.08 0.18 4.3 4.09
RA-202-01 180.7 181.37 0.67 3.4 0.11 >>
International Samuel plans to target a diamond drill hole into the projected central part of the electromagnetic conductor. The stringer mineralization listed above suggests that this is a mineralized conductor and the gravity anomaly and electromagnetic conductor strength suggests that this conductor may increase significantly in width. A 600 metre strike length could be the signature of a large deposit.
The property is under a 5 year option, with first year expenditures of $10,000.00 to the vendor, a $100,000 work commitment and 50,000 shares subject to TSX approval. Total expenditures over 5 years are $100,000 and 800,000 shares to the vendor and a total work commitment of $1,000,000. The Rasp property is located 100 kilometres north of Thompson, Manitoba.
Of the 37 Copper-Zinc deposits that have been mined in the Flin Flon-Snow Lake area, most of the mines had an EM conductor that was less than 1,000 metres, The Trout Lake Mine was discovered by drilling a short strike length EM conductor and from historical production contained 20 million tonnes of 1.83% Copper, 5.59% Zinc, and 1.73 g/t Gold. The Rasp Property is located 110 kilometres east of the large Ruttan Copper-Zinc deposit which historically had production of 55 million tonnes of 1.23% Copper and 1.41% Zinc.
About International Samuel Exploration
International Samuel is a Canadian exploration company involved in the exploration for base and precious metals in Manitoba.
All the technical information for this release has been reviewed by Bill Ferreira, P.Geo, a qualified person.
We seek safe harbour.
<< ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson President >>
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release
%SEDAR: 00005485E
/For further information: International Samuel Exploration Corp., Telephone: (604) 718-5454, Toll Free: (888) 500-4587 or (866) 580-0699, Email: doug(at)internationalsamuel.com, Website: www.internationalsamuel.com; Investor Relations, Derek Huston, Telephone: (604) 657-5539, Toll Free: (800) 665-4288, Email: dahuston(at)shaw.ca/ (ISS.)
CO: International Samuel Exploration Corp.
CNW 09:00e 06-APR-10