Stock Info
| December 23, 2008 OREBODIES ANNOUNCES ENCOURAGING BASE METAL VALUES FROM MCFAULDS LAKE CARIBOU PROPERTY | |
| TORONTO, December 23, 2008 --- Canadian Orebodies Inc. (TSXV: CO) ("Orebodies") is pleased to announce assay results from its Zinc-Copper-Silver discovery on its Caribou property located 35km southeast of the WSR-Metallex VMS (volcanogenic massive sulphide) 5.01 discovery in the James Bay Lowlands of North Eastern Ontario. The property consisting of 8 claims, 2,048 hectares, is owned 100% by Orebodies (subject to a 2% NSR, 1% each being held by Noront Resources and Temex Resources). Highlights - Hole CO-08-04 encountered 3.29% Zn, 0.17% Cu and 5.93 g/t Ag over 2.1m - Hole CO-08-05 encountered 1.08% Zn, 0.27% Cu and 4.02 g/t Ag over 2.3m - Large airborne anomaly that was traced for 600m - Discovery remains open in all directions Caribou Property Target 2-16 Overview Anomaly 2-16 on the Caribou property is a large airborne conductor that was traced for 600m in a north-south direction. Only a small portion of this conductor was surveyed on the ground with Max Min II EM which indentified two distinct lenses. The only holes drilled to date are in the northern lens detected by the ground survey. Further drilling of the other EM conductors along with more detailed ground geophysics over the entire target to better outline and detect new lenses is recommended. The target remains open in all directions and the results received from these first 2 holes on the Caribou property are very encouraging for the potential to increase the size and grade of the mineralized zone encountered thus far. TABLE 1 -- ASSAYS FOR CARIBOU PROPERTY TARGET 2-16
Hole # From To Interval Zn Cu Ag
(m) (m) (m) (%) (%) g/t
CO-08-04 82.1 90.0 7.9 1.31 0.09 2.46
Including 84.4 86.5 2.1 3.29 0.17 5.93
CO-08-05 177.7 180.0 2.3 1.08 0.27 4.02 Assay results for Crossroads property The Crossroads property which is 9 km's north of the Caribou property was also diamond drilled to test Airborne EM anomalies 8-1 and 8-2, with two holes totalling 367.4 meters, a third hole had to be abandoned in overburden. Hole CO-08-01 encountered iron formation with anomalous values of Cu and Zn, thus explaining the geophysical anomaly. CO-08-02 and CO-08-03 (abandoned) encountered no significant mineralization. No further work is planned on these anomalies at this point in time. Independent Quality Control and Analytical Protocol A thorough quality control program is in effect for the Ring of Fire drilling program which, has included grouping samples into batches of 35 into each of which were added 2 certified reference material standards, one blank sample, one coarse reject duplicate, two pulp duplicates (one blind, one indicated) and one quarter split field duplicate. It can be said with confidence that all assays as reported in this Press Release have passed the strict quality control guidelines as set out by Independent Qualified Person ("IQP") Ms. Tracy Armstrong P.Geo. of T.J. Armstrong Geological Consulting Inc. All samples reported upon herein were completed by Activation Labs (Actlabs) of Ancaster, Ontario. The samples submitted to Actlabs were analyzed using four acid digestion followed by ICP multi-element analysis. For precious metals the assay methodology was Fire Assay/ICP. For more information on assay methodology please visit the Activation Laboratories Ltd. Website at http://www.actlabs.int.com Drilling results in this press release have been verified by R.S. Middleton (P.Eng.) who is under contract and is an independent consultant to the Company and a "qualified person" (as such term is defined in National Instrument 43-101). R.S. Middleton has verified the data disclosed in this press release. For more information please contact: Gordon McKinnon, President & CEO Canadian Orebodies Inc. (705) 268-9000 www.canadianorebodies.com Forward Looking Information: This press release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to mineral resources, potential mineralization, exploration results and the Company's plans with respect to the exploration and development of the Caribou) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in commodity prices, changes in equity markets, failure to establish mineral resources, changes to regulations affecting the Company's activities, delays in obtaining or failures to obtain required regulatory approvals, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting drilling results and other ecological data, and the other risks involved in the mineral exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release. | |
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