🕐18.05.10 - 18:36 Uhr
400m South A-Zone Step Out Hole Intersects 226.5m of 0.67 g/t Au; Infill Drill H
ole Intersects 206.5m of 1.02 g/t Au
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Re: News Release - Tuesday, May 18, 2010
400m South A-Zone Step Out Hole Intersects 226.5m of 0.67 g/t Au;
Infill Drill Hole Intersects 206.5m of 1.02 g/t Au
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News Release 10-14
Brett Resources Inc.
("Brett") (TSX Venture Exchange - BBR) is pleased
to provide an update on its drill program at its Hammond Reef Project,
in northwestern Ontario.
Over 35,000 metres of drilling or 116 diamond
drill holes have been completed since January 2010.
Assay results for
an additional 25 holes are reported in this news release.
Assay results in this release include data from infill and exploration
holes.
Infill holes reported have been completed in the A-Zone and the
41-Zone.
Results are also reported for exploration holes that tested
the areas south of the A-Zone (South A-Zone), the RAB, Sande Stewart,
Snail Bay and to the East of the 41 Zone.
Please refer to attached plan
views for the locations of these holes:
http://www.brettresources.com/i/pdf/may18/all.pdf
A-Zone and 41 Zone infill and step-out drilling
A-Zone infill drilling continues to return both good thicknesses and
good grades.
Hole BR-207 intersected 206.4 metres of 1.02 g/t Au,
BR-218 returned 156.0 metres of 1.04 g/t Au, and BR-219 cored 157.50
metres of 1.05 g/t Au.
Other significant intersections from the A-Zone
are listed in Table 1.
Table 1.
A-Zone intersections
http://www.brettresources.com/i/pdf/may18/100517_Drilling_PR_AZone.pdf
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X_Sect Hole-ID From To Int (m) Au g/t
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1820_E BR-207 141.8 348.2 206.4 1.02
Incl 248.5 261.5 13.0 3.79
Incl 283.5 296.4 13.0 1.54
381.9 393.2 11.3 0.43
1470_E BR-216 11.0 20.0 9.0 0.75
56.0 185.0 129.0 0.63
197.0 285.5 88.5 0.78
1370_E BR-218 54.5 72.5 18.0 1.02
110.0 156.5 46.5 0.82
182.0 338.0 156.0 1.04
Incl 279.5 299.0 19.5 3.31
1570_E BR-219 50.0 107.0 57.0 0.34
123.5 156.5 33.0 0.45
170.0 327.5 157.5 1.05
Incl 176.0 186.5 10.5 5.20
Incl 272.0 279.5 7.5 3.90
1270_E BR-223 14.0 41.0 27.0 0.77
66.5 113.0 46.5 0.90
125.0 165.5 40.5 1.11
1470_E BR-226 96.5 123.5 27.0 1.12
134.0 173.0 39.0 0.63
221.0 363.5 142.5 0.93
Incl 248.0 275.0 27.0 1.88
1870_E BR-227 209.0 228.5 19.5 0.47
272.0 287.0 15.0 1.12
303.5 315.5 12.0 0.47
348.5 365.0 16.5 0.75
1320_E BR-228 20.0 156.5 136.5 0.49
176.0 219.5 43.5 1.11
231.5 303.5 72.0 0.40
1320_E BR-233 174.5 273.5 99.0 0.69
305.0 335.0 30.0 0.33
1320_E BR-235 2.0 18.5 16.5 0.46
75.5 105.5 30.0 0.67
123.5 303.5 180.0 0.63
317.0 327.5 10.5 0.57
1770_E BR-236 20.5 25.0 4.5 1.09
160.0 196.0 36.0 0.37
224.5 236.5 12.0 0.59
263.5 337.0 73.5 0.53
1320_E BR-242 14.0 77.0 63.0 0.54
110.0 236.0 126.0 0.80
Incl 192.5 207.5 15.0 2.37
224.0 236.0 12.0 0.46
1720_E BR-246 188.0 200.0 12.0 0.60
242.0 252.5 10.5 0.48
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Hole BR-261, drilled on cross section 1670_E, represents a 400m step
out south of the A-Zone.
This hole tested an area that is further
down-dip than any previous hole.
BR-261 intersected intervals of
anomalous gold mineralization starting at 68m and these intervals
continue to the end of the hole at 497m.
View Cross Section 1670_E:
http://www.brettresources.com/i/pdf/may18/may2010-1670E.pdf
A broad interval of gold mineralization, from 252.5 to 474.5, reports
222m of 0.68 g/t Au.
This zone has higher intervals that include 159m
of 0.71 g/t Au from 252.0 to 411.5m and 46.5m of 0.76 g/t Au from 426.0
to 471.5m.
Furthermore, a 7.5m interval within 7.5m of the bottom of
the hole assayed 2.28 g/t Au.
The anomalous intervals of gold mineralization intersected in BR-261
are detailed in Table 2.
It is recognized that the intervals between
those reported in Table 2, are of very low grade and some portions are
barren of gold mineralization, however it is encouraging that this
newly discovered gold system straddles a 411m interval in a single
drill hole.
The results of BR-261 are shown on the schematic vertical
cross section 1670_E attached.
Hole BR-261 is a follow up to results previously announced (April 22,
2010) in hole BR-214, and appears to confirm that significant down-dip
potential exists southeast of the A-Zone.
BR-216 returned five
gold-bearing intervals above a 0.30 g/t Au cut-off.
Table 2.
Summary of results in South A-Zone
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X_Sect Hole-ID From To Int (m) Au g/t
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1670_E BR-261 68.00 86.00 18.00 0.16
120.50 155.00 34.50 0.28
177.50 183.50 6.00 0.58
224.00 236.00 12.00 0.88
252.50 479.00 222.00 0.68
Incl 252.50 411.50 159.00 0.71
Incl 288.50 299.00 10.50 3.21
Incl 411.50 425.00 13.50 0.12
Incl 425.00 471.50 46.50 0.76
Incl 464.00 471.50 7.50 2.28
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Assays have been received for two holes completed in the 41-Zone.
BR-241, completed on section 3245_E, report 82.5metres of 1.01 g/t Au,
and hole BR-244 intersected 93m of 1.33 g/t Au from 104m to 197m.
Summary of significant mineralized intervals from 41 Zone are listed in
Table 3.
Table 3.
Significant assay intervals from 41 Zone.
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X_Sect Hole-ID From To Int (m) Au g/t
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3245_E BR-241 14.00 18.50 4.50 1.37
32.00 50.00 18.00 1.01
102.50 185.00 82.50 1.01
Incl 117.50 132.50 15.00 2.53
3205_E BR-244 38.00 86.00 48.00 0.15
104.00 197.00 93.00 1.33
Incl 143.00 161.00 18.00 3.10
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New Areas Exploration Drilling
Up to four drills have been testing exploration targets on the Hammond
Reef property over the last few months.
Drill results from the RAB,
Sande Stewart, and Snail Bay areas have been encouraging.
Results for three RAB holes are reported and these results include
assay data from holes BR-230, BR-232, and partial assays from BR-278.
The geological interpretation of the mineralization in these holes, and
other holes previously completed in the RAB, suggests a westerly dip
direction to the mineralization.
This trend of mineralization is not
consistent with that found in the main A and 41 Zones and this
orientation may represent structural controls not identified elsewhere
on the property.
Table 4 details the mineralized intervals from RAB.
Table 4.
RAB Assay results.
http://www.brettresources.com/i/pdf/may18/100517_Drilling_PR_RAB_41_SB.pdf
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X_Sect Hole-ID From To Int (m) Au g/t
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3095_E BR-224 197.00 206.00 9.00 0.36
3135_E 276.50 287.00 10.50 0.38
3135_E BR-230 20.00 30.50 10.50 0.61
39.50 45.50 6.00 0.36
3135_E BR-232 35.00 39.50 4.50 0.36
39.50 71.00 31.50 0.10
71.00 74.00 3.00 0.31
92.00 101.00 9.00 0.14
111.50 140.00 28.50 0.07
285.50 293.00 7.50 0.22
3160_E BR-237 7.00 27.50 20.50 0.48
19850_N BR-278 3.59 93.50 89.91 0.26
Incl 9.50 36.50 27.00 0.44
Incl 54.50 63.50 9.00 0.32
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Assays have been received from three of four holes completed along the
Sande Stewart trend.
Holes BR-239 on section 3900_E intersected five
mineralized intervals that are summarized in Table 5.
The gold
mineralization intersected at Sande Stewart is of low grade but is
noted to have significant thickness and will require follow-up
exploration work.
Sande Stewart Assays are detailed in Table 5.
Table 5.
Sande Stewart assay summary.
http://www.brettresources.com/i/pdf/may18/100517_Drilling_PR_RAB_SS.pdf
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X_Sect Hole-ID From To Int (m) Au g/t
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3900_E BR-239 32.00 42.50 10.50 0.107
86.00 152.00 66.00 0.106
171.50 224.00 52.50 0.124
257.00 278.00 21.00 0.269
293.00 320.00 27.00 0.275
3800_E BR-247 66.50 89.00 22.50 0.216
117.50 141.50 24.00 0.163
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Assay results for the first two of seven holes planned at Snail Bay
have been received.
Hole BR-245, drilled on section 5200_E, intersected
elevated gold mineralization from 11 to 116 metres down hole.
The
significance of this mineralization will be reviewed once the other
five holes are completed and their assays are received.
Table 6
details the mineralization intersected in BR-245.
Table 6.
Snail Bay drill hole intersection summary.
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X_Sect Hole-ID From To Int (m) Au g/t
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5200_E BR-245 105.50 116.00 10.50 0.33
5050_E BR-252 78.50 89.00 10.50 0.70
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A single hole was completed to the East of the 41 Zone.
BR-238 did not
intersect any significant mineralization that assayed above 0.30 g/t
Au.
Hammond Reef drilling has been temporarily reduced to two drills with
the purpose of expanding camp from a 40 to an 80-person camp.
Two new
drill contracts for 30,000 metres each are expected to be awarded in
the very near term.
One of the new drill contractors will deploy the
first two of several drills in mid May.
One of the first areas expected
to be drilled is South A-Zone to follow up results in BR-214 and
BR-261.
Barge drilling on Mitta Lake will begin as soon as permits are received
and the geotechnical drill program is anticipated to begin shortly
after the May long weekend.
Patrick Soares, President and CEO comments, "We are excited by these
drill results which continue to demonstrate the growth potential of the
Hammond Reef Deposit.
In particular the results in hole BR-261, along
with those in hole BR-214 reported on April 22, 2010, indicate that the
untested area to the south, and down-dip, of the A-Zone could develop
into a significant new resource area.
Extensive follow-up drilling
will be undertaken in this untested area."
Brett has begun the 2010 surface exploration program with work underway
in the Kabaskong area.
The Kabaskong area is on strike with the
A-41Zone Trend, and is 1.0km East-Southeast of the A-Zone.
Exploration
work has also been initiated in two condemnation areas.
These two
condemnation areas are potential tails disposal sites.
Osisko Mining Corp.
Offer for Brett
On March 22nd, 2010, Osisko Mining Corp.
agreed to offer shareholders
of Brett 0.34 of an Osisko common share for each common share of Brett
held.
The consideration under the Offer at the time represented a
premium of 52.5% using the 20-day volume weighted average prices of
Osisko and Brett on the TSX and TSX Venture, respectively for the 20
trading day period ending March 16, 2010.
The value of the total
consideration offered to the Shareholders is approximately $372 million
calculated on a fully-diluted basis, implying an enterprise value of
approximately $308 million.
The boards of directors of both companies
have unanimously approved this transaction and the board of directors
of Brett has recommended that Shareholders tender to the Offer.
The
offer to Brett shareholders is open until close of trading May 19,
2010.
Bretts exploration and development teams have been working with their
Osisko counterparts, bringing them up to speed on the projects latest
developments to ensure a smooth, uninterrupted workflow as the project
advances.
Quality Assurance and Quality Control
The Company utilizes standard industry practices in quality control and
quality assurance with insertion of blind standards, blanks, and
duplicates, in addition to the quality assurance and quality control
practiced by the assay laboratory.
Sample preparation and analysis are
conducted by ALS Chemex Laboratories with sample preparation in Thunder
Bay, ON, and analyses of pulps in North Vancouver, BC, ISO/IEC
guideline 17025 accredited facilities.
The geologist and Qualified
Person under the terms of National Instrument 43-101 responsible for
the verification of work and data acquisition at Hammond Reef is John
Zbeetnoff, P.
Geo.
Assay results used in this news release may have some minor out of
range control samples.
As such, these control samples as well as some
of their related core samples could be currently undergoing analytical
rerun analyses for gold at the analytical lab.
The assay results for
these reruns are expected within four to six weeks.
It is not expected
that there will be any noticeable impact on the final length weighted
grade calculations.
All significant grade changes will be reported in
future new releases, minor changes will be posted on the website.
The Qualified Person responsible for this news release under the terms
of National Instrument 43-101 is Patrick Soares, P.Geo.
About Brett Resources Inc.
Brett Resources Inc.
is a Canadian minerals exploration company whose
primary mandate is the discovery, acquisition, and development of
precious metals systems, with particular expertise in Canada and Latin
America.
Since 2006 Bretts primary focus has been the 100 percent
owned Hammond Reef Gold Deposit in Ontario where an inferred resource
of 6.70 million ounces of gold, 259.4 million tonnes at a grade of 0.8
grams per tonne utilizing a 0.3 gram per tonne gold cut-off has been
outlined.
Patrick Soares,
President & CEO
Neither 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.
Contact: Tony Perri, Manager, Investor Relations at 604-488-0008
or Raju Wani of Wani Capital at 403-240-0555
Brett Resources Inc.
Suite 611 - 675 West Hastings Street, Vancouver,
BC V6B 1N2
Tel: (604) 488-0008 Fax: (604) 669-2543
www.brettresources.com
View News Release in PDF Format:
http://www.brettresources.com/i/pdf/2010-05-18_NR.pdf
135 KB in size, approx.
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Copyright (c) 2010 BRETT RESOURCES INC.
(BBR) All rights reserved.
For more information visit our website at
http://www.brettresources.com/ or send mailto:
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