STINA ANNOUNCES 2011 YUKON EXPLORATION PLANS AND BUDGET


Stina Resources Ltd. has released further 2011 exploration details and an exploration budget on its wholly owned Dime and Kodiak properties in the highly active White Gold and South Klondike districts, Yukon. The Dime property is 67 kilometres southwest of Dawson City within the Ten Mile placer gold area. The Kodiak property is located 15 km south of the White gold deposit held by Kinross.

The total exploration budget for the Yukon in 2011 has been set at $1.55-million.

Dime Property

Work on Dime in 2009-2010 included 3,200-soil samples, outlining three distinct gold anomalies over an area measuring 4,500m by 1800m. All three soil anomalies appear to be structurally controlled. 5 Core holes were drilled (657 m), with all holes showing gold mineralization. 1,235m of trenching was conducted on two of the anomalies, and the property was expanded from 128 to 308 claim blocks. $470,000 was spent on the Dime in 2010.

This year the Company has budgeted the following expenditures for Dime: $80,000 on Geology; $150,000 on Soil Sampling; $76,000 on Trenching; $67,500 on Assaying; $165,000 on Transportation; $53,000 on an Aeromagnetic Survey; $86,500 on Base Camp Overhead; $497,000 on Drilling; $122,300 on Contingency funds.

The total budget for the Dime Property in 2011 is set at $1.35 million, with 37% of the budget allocated to drilling.

Exploration for the Dime is expected to start in early June with an aeromagnetic survey, as well as an extensive trenching program designed to refine last year’s drill targets and establish new ones. Trenching is expected to last into July and include 4,000 to 5,000m. Deep Auger Soil Sampling of up to 3,000 samples to expand the Dime system will start in early June and last between 2 and 3 weeks. Core Drilling will start in the middle of July and last 2 to 3 weeks, with 15 to 20 holes and up to 3,000 metres planned. Further Soil sampling and Trenching will follow in August and September to follow up on Drilling and prepare future targets. Pending exploration results, further follow up Drilling may be done in September.

Kodiak Property

Work on the Kodiak in 2009-2010 included 1,886 soil samples with values as high as 856.8 ppb gold, and 383m of trenching, extending the Main Northwest trend to a strike length of 4,000m. An anomalous gold soil zone at the junction of the northerly Zipper Trend and the Main Northwest trend was also identified, as well as elevated nickel values in soil which occur either with or in the proximity of anomalous gold zones indicating underlying mafic or ultramafic rocks. In 2010 the Company spent $192,775 on Kodiak exploration.

The Company has budgeted $219,263 for 2011 Kodiak exploration as follows: $10,000 in Geological consulting; $75,000 in Soil Sampling; $20,000 in Trenching; $37,500 in Assaying; $30,000 in Transportation; $26,830 in Geophysics; $19,993 in Contingency. The budget may be revised, particularly if the Company decides to drill the Kodiak late in the season.

Exploration on Kodiak is expected to start in early June with an aeromagnetic survey. Soil Sampling (up to 1,500 soils) and Trenching (up to 1,500m) is expected to start in July and last several weeks.
Kluane Drilling of Whitehorse has been contracted to conduct drilling, with Ground Truth Exploration and Ryanwood Exploration contracted to conduct soil sampling and trenching, consistent with last year. Precision Geosurvey of Vancouver has been contracted for aero-magnetic surveys, with ACME Laboratories of Vancouver conducting all assaying. Company Director and VP of Exploration, Al Doherty – P. Geo, will direct the exploration program in the Yukon, with additional consultation being provided by Jean Pautler – P. Geo, and Shawn Ryan of Ryanwood Exploration.

Al Doherty of Whitehorse, YT is a designated Qualified Persons acting for the Company and assisted in the preparation of this news release.

Be Sociable, Share!

, , ,

Comments are closed.