| An emerging resource company targeting the rising base metal markets
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Selkirk Metals Corp. is a mineral exploration and development company
focused on the acquisition and if warranted the development of base
metal assets in Canada. With a large and diverse portfolio of properties
ranging from early to advance stage exploration and development the
company is strategically positioned to take advantage of the current
highs in the base metal markets.
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The 2006 drill program focused on
the E-Zone, located at the eastern
end of the Ruddock Creek Massive
Sulphide Horizon. This horizon is
known to continue for over 5
kilometres westward into the
Oliver Creek area. Drilling in 2006
was successful in expanding the
Massive Sulphide Mineralization to
the west, south and north. In
August a third drill was added to
drill in the vicinity of drill hole RD-
05-113 and extended the zone
further to the west, over 1
kilometre west and down dip from
where the E-Zone outcrops at
surface. The mineralized
intersection in drill hole RD-05-113
was 14.05 metres grading 15.79%
zinc and 3.33% lead. In September
the company reported results from
hole RD-06-123 as intersecting
10.25 metres grading 16.25% Zn
and 3.65% Pb.
In all the 2006 program can be
labelled a complete success as it
confirmed the continuity of the
massive sulphide mineralization
from surface to drill hole RD-05-
113 and beyond. The visual and
reported assay results to date
confirm that the zone of massive
sulphide mineralization continues
down dip from where the E-Zone
outcrops at surface, towards drill
hole RD-05-113 for a strike length
of over 1 kilometre, an area that
could contain 10 million tonnes of
mineralization.
Also in 2006 surface exploration
and diamond drilling discovered
the Creek Zone and confirmed the
extension of the Sulphide System
along the projected length of over
5 kilometres. Drill results from the
Creek zone included 10.64m
grading 13.26% Zn and 2.87% Pb
and 6.23m grading 11.23% Zn
and 2.65% Pb. The zone is
getting thicker at depth and is
open. The Creek Zone is part of a
series of massive sulphide
showings over 1 kilometre in length
and indicated depth of 500 meters,
the same as the E-Zone and as
such with similar potential. This
area will be drilled in detail in 2007.
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Selkirk Metals has earned a 70% interest in the Ruddock Creek Property, located 100 km north
of Revelstoke in the Kamloops and Revelstoke Mining Divisions. Falconbridge and Cominco
previously explored the Property and reported an inferred resource in the E-Zone of
approximately 4 million tonnes grading an average of 10% combined lead and zinc (resource
was calculated prior to and does not conform to 43-101 regulations) as well as numerous other
showings along a zone of mineralization with a strike length of over 5km. This resource was
calculated up to where the zone is cut off by the E-Zone fault. Over the past 3 years over
20,000 meters of drilling has confirmed that the E-Zone is continuous along a length of at least
1km and 300 to 400 meters down dip. There is the potential to define up to 10 million tonnes
within this area. The zone is open to the west forming part of the Ruddock Creek Sulphide
System, which is over 5 kilometres in length. Recent drilling of the Creek Zone has outlined a
second area of excellent mineralization over 900 metres from the E-Zone, confirming the
potential to expand the known mineralization and the potential of the Property.
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The LJ Property, Southern B.C.
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Selkirk Metals Corp. acquired by staking
100% interest in the LJ Property,
Revelstoke area, B.C. to cover the indicated
source of a field of numerous massive
sulphide boulders where previous assays
averaged 13.50% zinc and 12.29% lead.
In 2005 drilling was completed to test
anomalies produced by UTEM Surveying.
The best hole from this short program
returned 10.70% Zinc, 4.90% Lead and 9.40
g/t Ag over 5 metres within 15 metres of
6.81% zinc, 2.69% lead and 3.93 g/t Ag.
This represented a significant new massive
sulphide discovery and the focus will be to
further expand upon it in 2006.
In May of 2006 Selkirk entered into an Option
Agreement with Consolidated Venturex
Holdings Ltd. on the LJ Property, Revelstoke
area, British Columbia. Under the terms of
the Agreement, to earn a 49% interest,
Venturex is required to spend an aggregate
$2.5 million on exploration of the LJ Property
before December 31, 2008. Venturex must
also issue to Selkirk 200,000 shares upon
receipt of regulatory approval and a further
200,000 shares on each of March 1, 2007
and 2008.
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Geological mapping and prospecting on the LJ
Property in 2006 discovered two new zones of
stratiform zinc-lead-silver mineralization similar in style
and texture to that found in a SEDEX Type Sulphide
System. Sampling of the two mineralized horizons was
completed with assay results expected shortly. The
Drilling completed in 2005 intersected a similar style of
mineralization (news October 24, 2005) and may be
the down plunge extension of an anticlinal fold nose
related to the newly discovered bedded mineralized
zones.
On September 18, 2006, Consolidated Venturex, who
are earning a 49% interest in the LJ, announced that
hole LJ-06-03 had successfully intersected 6.7m of
heavily mineralized interbedded sphalerite, galena and
pyrite mineralization. Within that zone greater than
60% sulphide was intersected from 67.8m to 70.1m.
It is now believed that this new intersection indicates
continuity of the massive sulphide mineralization over
a distance of 170 meters from the surface showings to
the intersection in Selkirk’s drill hole LJ-05-02(15
metres of 6.81% Zn 2.68% Pb and 3.93 g/t Ag).
Selkirk expects that Venturex will continue exploration
in 2007 with further drilling and surface exploration.
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The Kneb Property
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The Kneb Property was staked by Cross Lake Minerals
Ltd. in 2003 to cover the area which is projected to host
the source of a series of massive sulphide boulders
discovered at the toe of a glacier by Cominco in 1998.
Samples reported by Cominco from these boulders
averaged 6.9% zinc, 6.8% lead and 109 g/t Silver.
During May 1999 Cominco completed a ground UTEM
and Magnetometer survey over the possible massive
sulphide source area. A strong conductor and coincident
magnetic anomaly was traced for a strike length of 800
metres with eastern side "open". The conductor is
estimated to be at a depth of 100 metres and dipping
north at -15 degrees and correlates with the Kneb
mineralized horizon discovered by Cominco during an
earlier exploration program. During staking by Cross
Lake in 2003 a large, 1.0 metre angular boulder,
containing semi-massive sphalerite and galena was
sampled and assayed 13.61% zinc, 15.96% lead and
251.8 g/t silver. Further exploration is planned to locate
the source of these boulders along this horizon.
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Mineralization on the Wasi Creek
Property was discovered and
evaluated by Cominco Ltd.
(“Cominco”) in the early 1990’s.
Cominco identified zinc-lead-silver
mineralization along a two-kilometre
carbonate horizon (the Par horizon),
which remains open along strike
and down dip. Drilling conducted by
the company in 2005 was
successful in intersecting a new
horizon sub parallel to the Par
horizon as a result of an airborne
magnetic and EM survey. In 2002
Cross Lake discovered the Carrie
Zone, new parallel zone of
mineralization. An initial trench
discovered sphalerite-galena-pyrite
mineralization that assayed 5.10%
zinc, 0.89% lead and 18.0 g/t silver
across a sample width of 10 metres.
In 2006 further trenching of the
Carrie Zone and the Par Horizon
successfully extended the area of
known mineralization. Assay
results from this trenching and the
subsequent drilling program will
serve to guide further exploration of
the Wasi Property. Under the
terms of an option agreement Bard
Ventures Ltd. has the right to earn a
50% interest in the Wasi Property.
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Investment Highlights
- Strong Management Team with over 200 years combined experience in the exploration and development of mineral
properties.
- During the exploration season of 2005 the company completed 5 drill programs on 5 properties all of which were successful,
producing grade results that have further advanced these projects and placed the company in an excellent position for 2006.
- The Ruddock Creek advanced stage Broken-Hill type Massive Sulphide Deposit with a strike of over 5 kilometres and
inferred resource of 4 million tonnes calculated within only 250 metres of the E-Zone. (8 other zones of mineralization
defined on property to date)
- Completed Over 14,000 metres of diamond drilling at Ruddock Creek in 2006 to further expand the E-Zone.
- Creek Zone and expand the overall Sulphide System.
- $14 million program planned for 2007 to include underground development and extensive surface exploration.
- Numerous option agreements with several other exploration firms allowing for the exploration and advancement of company
assets while avoiding shareholder dilution.
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Corporate Office:
Selkirk Metals Corp.
1255 West Pender Street, Vancouver, British Columbia, Canada V6E 2V1
Telephone: (604) 687-2038
Fax: (604) 687-3141
Email: keevil@shaw.ca
Web site: www.selkirkmetals.com
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Disclaimer:
The information herein may contains forward looking statements based on assumptions and judgments of the management of the Selkirk Metals Corp. regarding events or results that may prove to be inaccurate as a result of exploration or other risk factors beyond its control. Actual results may differ materially from the expected results. All statements herein, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Selkirk Metals Corp. expects are forward-looking statements. Such forward-looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could change. The material contained herein is for information purposes only and is not and is under no circumstances intended to constitute an offer to sell or a solicitation to buy any securities or a recommendation as to the purchase of any securities.
The forward-looking statements contained in this company profile are made as of the date hereof and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements. Where applicable, we claim the protection of the safe harbor for forward-looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995. The information contained herein has been obtained from the above featured company as well as the other publicly available sources and is believed to be accurate. Although reasonable efforts have been made to compile this data with care, neither Investcom, its
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