Parlane Resource Corp. (TSX VENTURE:PPP) - 



--  9 metres - 2.14 g/t Au - 12.64 g/t Ag 
--  1 metre - 13.50 g/t - Au 58.10 g/t Ag 
--  1 metre - 8.63 g/t Au - 65.40 g/t Ag 



Parlane Resource Corp. ("Parlane" or the "Company") is pleased to announce that
it has received assay results from a drill program at its Big Bear property
("Big Bear"), on the Nechako Plateau, approximately 100 kilometres southwest of
Vanderhoof. Big Bear is situated between two mineralized systems: New Gold
Inc.'s Blackwater and Capoose properties.


Six drill holes were completed at 5 sites for a total of 1,637 metres of core.
The objective of this drill program was to target areas yielding moderate to
high chargeability responses that were coincident with anomalous results from
soil sampling (see Parlane news release Aug. 8, 2012 at
www.parlaneresource.com).


Two of the 6 drill holes intersected newly discovered mineralization. Drill hole
BB12-4 was drilled at the Black Bear anomaly to a depth of 330.71 metres and was
sampled at 1-metre or 2-metre intervals for its entirety. Significant
mineralized sections are shown in Table 1 and include 9 metres assaying 2.14
grams per tonne (g/t) gold, 12.64 g/t silver and 0.76 % zinc. Within this
section, a 1-metre interval, at 196 metres depth, assayed 13.50 g/t gold, 58.10
g/t silver and 1.36 % zinc. The average grade for all of the samples over the
entire hole is 0.26 g/t gold, 2.67 g/t silver and 0.21 % zinc. Hole BB12-6 was
also drilled at the Black Bear anomaly and was collared 200 metres west of
BB12-4. Significant mineralized intersections (Table 1) include 8 metres
assaying 0.67 g/t gold, 4.99 g/t silver and 0.67 % zinc and within this section
a 1-metre interval assayed 2.06 g/t gold, 6.69 g/t silver and 1.63 % zinc.
Mineralization at the Black Bear is hosted in thick units of intermediate to
felsic lapilli and crystal tuff. The orientation of this volcanic package is
considered to be dipping moderately to the northeast, based on outcroppings at
higher elevations in the area, and drill intersections are approximately
perpendicular to layering thereby giving true thicknesses plus or minus 90 per
cent. The Black Bear is situated directly on-line between the Blackwater and
Capoose properties (to see map click on
http://media3.marketwire.com/docs/ppp.pdf or see website at
www.parlaneresource.com).


"This is a very significant discovery for the Company," said Robert Eadie,
President and CEO of the Company. "We are anxious to get underway on our 2013
drilling program as I believe we have extended the Blackwater deposit and are on
a definite path to increasing shareholder value."




Table 1. Drill Hole Information and Significant Drill Hole Intersections

----------------------------------------------------------------------------
                                                Significant Drill Hole      
          Drill Hole Information                     Intersections          
----------------------------------------- ----------------------------------
                           Azi-                    Len-        sil- cop-    
         East-  North-  El- mu-    Length From  To gth  gold   ver   pe zinc
Hole      ing     ing   ev. th Dip     (m)  (m) (m) (m)  g/t   g/t  r %    %
----------------------------------------------------------------------------
BB12-4 365225 5901000 1248 270 -50  330.71  18  24   6  1.34  3.62 0.04 0.25
----------------------------------------------------------------------------
                                 including  18  20   2  3.83  1.51 0.00 0.23
----------------------------------------------------------------------------
                                       and 114 126  12  1.12  9.30 0.11 0.43
----------------------------------------------------------------------------
                                 including 124 125   1  8.63 65.40 0.75 1.10
----------------------------------------------------------------------------
                                       and 195 204   9  2.14 12.64 0.06 0.76
----------------------------------------------------------------------------
                                 including 195 196   1  3.93 28.20 0.16 2.80
----------------------------------------------------------------------------
                                 including 196 197   1 13.50 58.10 0.11 1.36
----------------------------------------------------------------------------
BB12-6 364991 5901019 1255 360  90  300.84   7  15   8  0.67  4.99 0.06 0.67
----------------------------------------------------------------------------
                                 including  12  13   1  2.06  6.69 0.04 1.63
----------------------------------------------------------------------------
                                       and  24  25   1  0.20  5.38 0.01 1.05
----------------------------------------------------------------------------
                                       and  37  38   1  1.00  6.84 0.00 0.09
----------------------------------------------------------------------------
                      and (with 1.92% lead) 53  54   1  0.10 17.20 0.10 0.77
----------------------------------------------------------------------------
                                       and 188 190   2  0.62 10.10 0.03 0.20
----------------------------------------------------------------------------
BB12-1 371500 5904950 1262 260 -60  317.92      No significant intersections
----------------------------------------------------------------------------
BB12-2 371941 5906105 1222 360 -75  203.00      No significant intersections
----------------------------------------------------------------------------
BB12-3 373600 5906075 1160 360 -60  218.00      No significant intersections
----------------------------------------------------------------------------
BB12-5 368945 5905705 1430 225 -70  267.00      No significant intersections
----------------------------------------------------------------------------



The Black Bear mineralization requires more geophysical surveying and drilling
to determine its extent. Parlane has scheduled to return early in the 2013
season to begin further work at this site.


The Brown Bear anomaly is located 2.6 kilometres south of the Black Bear and is
characterized by anomalous silver, copper, lead and zinc values in soils and is
coincident with a strong chargeability over an area approximately 500 metres by
700 metres. It was targeted for drilling in 2012; however, snow and ice made
access difficult and a decision was made to suspend further work until 2013.


The Medley Zone was discovered late in 2012 within the western block of the Big
Bear tenure. Closely spaced, 1 to 5 centimetre-wide quartz and epidote veins
carry silver and copper mineralization extending approximately 700 metres
northerly. A selected hand sample assayed 2.67 g/t silver and 0.83 % copper.
Further sampling and geological mapping is planned for this area in 2013.


Drill core samples were analyzed by AGAT Laboratories Ltd., an ISO 9001 -
ISO/IEC 17025 certified laboratory. Parlane maintains a quality assurance and
quality control program whereby standard samples and blanks are inserted into
the sample stream.


Ian Webster, P.Geo., is the Qualified Person as defined by National Instrument
43-101 who has reviewed and approved the contents of this release.


ON BEHALF OF THE BOARD

Robert Eadie, President, Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT: 
Parlane Resource Corp.
Robert Eadie
President, Chief Executive Officer and Director
1-604-602-4935
1-604-602-4936 (FAX)
www.parlaneresource.com
Prospector Metals (TSXV:PPP)
Historical Stock Chart
Von Nov 2024 bis Dez 2024 Click Here for more Prospector Metals Charts.
Prospector Metals (TSXV:PPP)
Historical Stock Chart
Von Dez 2023 bis Dez 2024 Click Here for more Prospector Metals Charts.