DRILLING INTERSECTS ADDITIONAL ZONES OF GOLD MINERALIZATION AT DREADNOUGHT
RJV PROJECT, WESTERN AUSTRALIA
December 5, 2006
EDMONTON, Alberta – Committee Bay Resources Ltd. (CBR: TSXV) (the “Company”) and Australian Redemption Joint Venture (RJV) partner Focus Minerals Ltd. (FML: ASX) today announced the results from the first ten holes of a twenty hole infill drilling program at the Dreadnought Deposit, located within the Coolgardie Gold Project in Western Australia.
Dreadnought lies approximately 300m south of the past producing Tindals System (350,000 oz historical production). The RJV is currently working on updated resource studies on the Empress, Countess Tindals and Cyanide which are depth extensions within the Tindals System. In addition, the Perseverance high grade zone lies 400m to the north of the Tindals system. The Dreadnought Deposit currently hosts a 43-101 compliant Indicated resource of 970,000 tonnes at 2.5 g/t Au for 77,966 contained ounces and an additional Inferred resource of 2,579,000 tonnes at 1.9 g/t Au for 156,992 contained ounces.*
The current drill results continue to confirm the significant near surface gold mineralization at the Dreadnought Deposit. Highlights from these drill holes include near surface intersections of 3.37 g/t Au over 27 m in hole 06DNC015, 1.61 g/t Au over 28m in hole 06DNC014, and 1.33 g/t Au over 14m in hole 06DNC020.
In addition, results from hole 06DNC015 confirms the high-grade mineralization where the main diorite unit is truncated against the Dreadnought fault with an intercept of 3.37 g/t Au over 27m in hole 06DNC015, including 10.11g/t Au over 3m within a quartz vein. Additionally, intercepts of 9.61g/t Au over 2m in hole 06DND019 and 7.71g/t Au over 2m in hole 06DND017, confirm the presence of significant higher-grade zones within the wider mineralized system.
Drill holes 06DND007, 06DND008 and 06DNC014, which tested a sparsely drilled area at the southern end of the resource, have confirmed and extended the presence of a shallow mineralized zone within a thick diorite unit intersected in 05DNC004 and 05DNC005 (See press release dated Dec. 14, 2005).
An intersection of 1.58 g/t Au over 56m in hole 06DNC016 confirms the presence of a wide mineralized zone at the northern end of the southern resource area. This zone remains open along strike to the north.
The current infill drill program is designed to increase confidence in the resource model for the southern area which is currently in the Inferred category. This drilling will provide data for resource modeling, geotechnical parameters and metallurgical test work as the first stage in advancing the project to a pre-feasibility level. Additional infill diamond and RC drilling will be optimized utilizing geological and structural parameters obtained from the core studies.
Complete current drill results are tabulated below.
|
Dreadnought Zone Drill Results |
|
|
|
|
|
|
|
|
|
|
Hole ID |
|
From |
To |
Length |
Au g/t |
|
06DND007 |
|
8 |
9 |
1 |
1.16 |
|
|
19 |
20 |
1 |
1.79 |
|
|
21 |
22 |
1 |
5.9 |
|
|
29 |
33 |
4 |
1.61 |
|
|
39 |
42 |
3 |
1.98 |
|
|
78 |
80 |
2 |
2.02 |
|
|
82 |
83 |
1 |
1.41 |
|
|
93 |
94 |
1 |
6.41 |
|
06DND008 |
|
21 |
22 |
1 |
1.22 |
|
|
25 |
26 |
1 |
2.00 |
|
|
32 |
37 |
5 |
2.95 |
|
|
56 |
58 |
2 |
2.05 |
|
|
68 |
69 |
1 |
1.24 |
|
|
72 |
73 |
1 |
1.21 |
|
|
110 |
111 |
1 |
1.7 |
|
06DNC014 |
|
18 |
19 |
1 |
1.51 |
|
|
27 |
28 |
1 |
2.03 |
|
|
33 |
61 |
28 |
1.61 |
|
including |
33 |
34 |
1 |
14.9 |
|
|
79 |
80 |
1 |
2.02 |
|
|
90 |
91 |
1 |
3.02 |
|
06DNC015 |
|
71 |
72 |
1 |
1.68 |
|
|
92 |
119 |
27 |
3.37 |
|
including |
92 |
93 |
2 |
11.66 |
|
and |
104 |
109 |
5 |
5.41 |
|
and |
116 |
119 |
3 |
10.11 |
|
06DNC016 |
|
93 |
149 |
56 |
1.58 |
|
including |
93 |
99 |
6 |
1.98 |
|
and |
103 |
104 |
2 |
3.46 |
|
and |
112 |
118 |
6 |
2.96 |
|
and |
128 |
141 |
13 |
2.04 |
|
06DNC017 |
|
44 |
46 |
2 |
7.71 |
|
|
49 |
50 |
1 |
1.19 |
|
|
54 |
55 |
1 |
4.16 |
|
|
89 |
90 |
1 |
1.13 |
|
|
99 |
100 |
1 |
1.11 |
|
|
105 |
107 |
1 |
4.17 |
|
|
108 |
109 |
1 |
1.05 |
|
06DNC018 |
|
92 |
93 |
1 |
1.9 |
|
|
94 |
95 |
1 |
1.4 |
|
|
106 |
107 |
1 |
1.46 |
|
|
115 |
116 |
1 |
1.48 |
|
|
121 |
122 |
1 |
1.06 |
|
06DNC019 |
|
59 |
60 |
1 |
7.48 |
|
|
65 |
66 |
1 |
3.78 |
|
|
76 |
77 |
1 |
1.21 |
|
|
85 |
86 |
1 |
1.9 |
|
|
114 |
115 |
1 |
1.22 |
|
|
143 |
145 |
2 |
9.61 |
|
06DNC020 |
|
68 |
82 |
14 |
1.33 |
|
|
95 |
96 |
1 |
3.14 |
|
|
101 |
102 |
1 |
2.98 |
|
06DNC021 |
|
72 |
72 |
1 |
1.95 |
|
|
77 |
78 |
1 |
1.82 |
|
|
84 |
85 |
1 |
1.83 |
|
|
89 |
90 |
1 |
1.34 |
|
|
91 |
92 |
1 |
1.5 |
|
|
104 |
105 |
1 |
1.46 |
Coolgardie Project, Western Australia
Committee Bay Resources Ltd., through the Redemption Joint Venture (Committee Bay in a 50% partnership with Focus Minerals Ltd. ASX: FML), has the mineral rights to more than 210 km2 of under-explored greenstone tenements, located in one of the world’s most significant gold and nickel mining regions. These tenements contain Indicated resources of 315,720 ounces gold* (5.32 million tonnes at 1.8 g/t gold) and Inferred resources of 1,080,825 ounces gold* (13.7 million tonnes at 2.5 g/t gold). The RJV also has a 100% interest in the fully permitted, 1.2mtpa, Three Mile Hill Mill processing plant.
* For more information on the stated gold resources and historic drill results of Committee Bay Resources Ltd., please refer to the detailed NI 43-101 compliant technical reports filed on SEDAR by Committee Bay on December 20, 2004, and by Matador Exploration Inc. (wholly owned subsidiary of Committee Bay Resources Ltd.) on July 18, 2005.
Committee Bay Resources Ltd. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property as detailed in Committee Bay Resources Ltd. ‘Technical Report for the Coolgardie Gold Project, Coolgardie, Western Australia’ by Dean Besserer - May 27, 2005 pp. 76-80. The program is supervised by Peter Kleespies, M.Sc. P.Geol., Vice President of Exploration (Australia), who is the Qualified Person as defined by NI 43-101.
About Committee Bay
Committee Bay controls major greenstone belts in Nunavut and Western Australia and has the opportunity to conduct year-round exploration on three continents in order to build on its existing gold resources.
On behalf of the Board
Committee Bay Resources Ltd.
/s/”John Williamson”
John Williamson, P.Geol.
President
For further information, please contact Investor Relations:
Derek Iwanaka or Jim Paterson
Dial 604-331-2269 or toll-free 1-888-331-2269
** WEBSITE: http://www.committeebay.com/ **
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Certain disclosures in this release, including management's assessment of Committee Bay’s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Committee Bay's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Committee Bay expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
