The Company is pleased to announce results from the 2012 diamond drill program on its Grand-Vallée North Aluminous Clay Prospect (the "Property"), Gaspe, Quebec. During November 2012, Habanero completed nine (9) inclined diamond drill holes totalling 801 metres that tested priority aluminum in soil geochemical anomalies defined by Habanero's summer-fall 2012 exploration programs.
Drill hole 12GVDH001 intersected a near surface zone of Al2O3 (Aluminum-Oxide) at a depth of 11 metres that returned values of 18.0% Al2O3 over 12 metres (Table 1). Drill hole 12GVDH004, a 50 metre south step-back, intersected the same zone and returned 17.4% Al2O3 over 42 metres. Based on the results of drilling, a 60 metre wide (apparent width), east-northeast oriented zone of Al2O3 mineralization lies beneath 13 metres of lower grade mudstone. Outcrop bedding measurements suggest the zone dips moderately to the south, which is supported by the distribution of Al2O3 values within the drill holes. The zone is open along strike to the east and west, and to the north where it is interpreted to reach surface.
Table 1: Grand-Vallée North Selected Diamond Drill Results
|Target||Drill Hole ID||From
Drill holes 12GVDH005 and 12GVDH006 tested a 40 metre zone of red claystone outcrop exposed within a creek bed (Target #2). Drill hole 12GVDH005 intersected a 42 metre wide zone returning 17.0% Al2O3, from a depth of 36 metres; and a second zone at a depth of 90 metres returning 18.4% Al2O3 over 9 metres. The drill hole terminated directly in highest mineralization of the drill program. Drill hole 12GVDH006 tested the same zone 30 metres to the east along its inferred trend and returned values of 16.8% Al2O3 over 48 metres; including 18.1% Al2O3 over 12 metres. Drilling of Target #2 indicates that in addition to broad zone of near surface mineralization such as those encountered at Target #1, aluminous claystone exposures at the Grand-Vallée North Prospect are persistent in the subsurface along strike and that multiple parallel zones may be present.
Drill holes 12GVDH007 and 12GVDH008 were spaced 1 kilometre apart and selectively tested an east-northeast trending aluminum in soil geochemical anomaly (Target #3). At a depth of 26 metres, drill hole 12GVDH007 intersected a broad zone of mineralization that returned 15.7% Al2O3 over 52 metres. Drill hole 12GVDH008 returned values of 15.2% Al2O3 over 43 metres; including 16 metres at 17.9% Al2O3 and values of up to 18.9% Al2O3 over 4 metres. The hole again terminated in mineralization that graded near the highest levels of the hole, at a depth of 111 metres. The orientation of this mineralized zone is not known and additional drilling is warranted to determine the potential for near surface mineralization along section.
The 2012 Grand-Vallée North diamond drill program resulted in the discovery of three new zones of Al2O3 mineralization within the Property. The three zones are open in both directions along their inferred east-northeast trend. Importantly, diamond drilling has established a high correlation between aluminum in soil geochemical anomalies and drilled intersected mineralization. Numerous soil geochemical anomalies are present within the Grand-Vallée North claims and in light of 2012 diamond drill results additional infill soil sampling, ground geophysical surveys, and further diamond drill testing is warranted.
Jason Gigliotti, President of Habanero Resources states, "We are pleased with the initial results achieved on this prospect. Considering two of the first targets terminated at the higher levels of the holes, we clearly need to follow up to deepen those targets as well as follow up on the remainder of the priority targets within this large prospect. Management is currently formulating a plan for the next phase of operations and anticipates mobilizing the next phase shortly."
Work on the Grand-Vallée North Prospect is supervised by Kristopher J. Raffle, P.Geo. (BC) Senior Geologist for APEX Geoscience Ltd. of Edmonton, AB, who is the qualified person for the project as defined by National Instrument 43-101. Mr. Raffle has provided and reviewed all of the technical content of this news release as it relates to the Gaspe Bay Aluminous Clay/Rare Earth Prospect. Drill core from the 2012 diamond drill program was split using a mechanical core splitter. A total of 361 split drill core samples were submitted for X-Ray Fluorescence (XRF) analysis to ALS Minerals, North Vancouver, BC for analysis. A quality assurance/quality control (QA/QC) program is in place, with the insertion of standard and blank samples into the sample stream to confirm the accuracy of the reported results.
Habanero is a diversified junior company with the following prospects: the White Gold Prospect in the White Gold Region Yukon, bordering Kinross' Golden Saddle discovery; the Haldane Silver Prospect in the Keno Hill Silver Region of the Yukon bordering Alexco Resources Corp.'s Bellekeno property; the Lezai Multi-Element Prospect located approximately 100 km north of Chibougamau Quebec; and the Grande-Vallée North Aluminous Clay Prospect consisting of approximately 7,400 hectares (18,285 acres) near Murdochville Quebec, bordering Orbite Aluminae Inc.'s deposit.
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Habanero Resources Inc.
Jason Gigliotti, President
604 646 6900