Vancouver, British Columbia, February 5, 2009: Confederation Minerals Ltd. (TSXV:CFM) announces that drilling has been completed, and assay results received, from a program of five diamond drill holes totaling 2,050 meters, on its Confederation Lake massive sulphide target.
Confederation’s land position consists of 26 staked claims, covering 2,978 hectares, over a 18.5 km by 4 km strike length of the Archean aged Confederation Lake greenstone belt in the Red Lake Mining Division of Ontario. The property is favorably situated between the past-producing South Bay massive sulphide deposit at the north-eastern boundary, and the Garnet Lake discovery of Tribute Minerals Ltd. at the south-western boundary. The South Bay mine was operated by Selco from 1971 to 1981 and mined 1.45 million tonnes grading 2.3% copper, 14.7% zinc, and 120 gpt silver.
Confederation’s drilling was a follow-up of anomalous values obtained from MMI soil surveys which were detected in overburden-covered terrain soutwards, along strike, of the South Bay-hosting strata.
The drilling did not intersect VMS-style massive sulphide mineralization, although one hole, CL08-04, intersected mineralization associated with chloritic breccias indicative of a possible feeder zone similar to the South Bay Mine footwall dacitic breccias. Drill results are as follows:
|CL08-01||No significant results|
|CL08-02||113.5||114.8||1.30||7.51 gpt Ag, 0.32% Zn|
|284.0||285.0||1.0||7.34 gpt Ag, 0.12% Zn|
|CL08-03||No significant results|
|CL08-04||49.65||60.22||0.57||2.96gpt Ag, 1.27% Cu|
|63.86||64.5||0.64||4.63 gpt Ag, 1.63% Cu, 0.23% Zn|
|CL08-05||No significant assays|
No further work is planned on the Confederation Lakes claim group at this time.
Drilling was carried out by CorePro Drilling of Tisdale, Saskatchewan. Garry Smith, P.Geo. was the geologist in charge of the field work and drilling. Lawrence Dick, Ph.D., P.Geo is responsible for the accuracy of this press release, has reviewed the data contained herein and is the qualifying person under the meaning of National Instrument 43-101. Geochemical assays were carried out by Accurassay Laboratories of Thunder Bay, Ontario.
On behalf of the Board of Directors of
CONFEDERATION MINERALS LTD.
:signed “Lawrence A. Dick”
Lawrence A. Dick, Ph.D., P.Geo
President and Director
Lawrence A. Dick – Phone: 604 816 6120
THIS PRESS RELEASE HAS BEEN PREPARED BY MANAGEMENT. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.