Starfire Minerals Inc.
STARFIRE REPORTS INTERSECTION OF 63 METERS OF 0.781 GRAMS GOLD (1.052 GRAMS EQUIVALENT 1,2) PER TONNE AT PORPHYRY PEARL
Starfire Minerals Inc. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- STARFIRE REPORTS INTERSECTION OF 63 METERS OF 0.781 GRAMS GOLD (1.052 GRAMS EQUIVALENT 1,2) PER TONNE AT PORPHYRY PEARL Vancouver, November 26, 2007 – Starfire Minerals Inc. is pleased to report analytical results for samples received from drilling at its Porphyry Pearl copper-gold project in the Toodoggone Mining District of Northern British Columbia (see previous release of November 12, 2007). The drill program was carried out by Arnex Resources Ltd as Operator for Starfire. Of most significance is hole PP07-06, an inclined hole which intersected continuously mineralized monzonite from the overburden-bedrock interface at a depth of 18 meters to the bottom of the hole at 166 meters. This 148-meter interval averages 0.383 g/t gold, 0.03% copper, and 0.06% zinc (or 0.528 g/t equivalent gold) and includes significant intervals of higher grades (see Table 1). Drilling of this hole was interrupted by winter conditions and, as it was stopped in mineralized monzonite, its completion will be the first priority of the 2008 drill campaign. Hole PP07-05, a vertical hole collared at the same location as PP07-06, intersected 112.56 meters from 48.78 to 161.34 meters averaging 0.419 g/t gold, 0.05% copper and 0.05% zinc (0.554 g/t equivalent gold). Included within this interval is a zone of highly silicified and brecciated rock (termed 'the rubble zone') from 48.78 to 136.74 meters from which core recovery is estimated to average 61%. Analytical results for the samples from this 88-meter zone average 0.420 grams gold per tonne and 0.05% copper, and 0.05% zinc (0.549 g/t equivalent gold), but because of the sub-optimum recovery, the average is considered an approximation of the tenor of the interval. However, immediately below the 'rubble zone', core recovery was essentially 100% and the hole intersected 24.6 meters from 136.74 to 161.34 meters averaging 0.418 grams gold per tonne, 0.07% copper, and 0.04% zinc (0.569 g/t equivalent gold). Management is encouraged by these results and the Operator has investigated a method to improve recovery in future drilling of the 'rubble zone' interval. Hole PP07-02 intersected two mineralized zones of significance, including 19 meters averaging 0.543 g/t gold, 0.03% copper, and 0.28% zinc (0.847 g/t gold equivalent) at a depth of 338 meters down hole. The long intersections of gold grades that approximate that at Northgate Minerals Ltd.’s (NGX.TO) Kemess South Deposit, located 60 kilometers to the south-southeast of the Porphyry Pearl property are particularly encouraging, and reinforce the hypothesis that a copper-gold porphyry deposit is situated on the Porphyry Pearl property. Table 1 – Porphyry Pearl Drill Sample ResultsAu Cu Zn Equivalent Hole From To Length (g/t)1 % % Au (g/t)2 Remarks PP07- awaiting 01 analyses PP07- 0. 0. 02 194.50 215.00 20.50 0.380 04 13 0.564 0. 0. 328.00 357.00 29.00 0.417 03 27 0.709 incl- 0. 0. uding 338.00 357.00 19.00 0.543 03 28 0.847 PP07- awaiting 03 analyses PP07- not yet 04 sampled PP07- 0. 0. 69% 05 48.78 161.34 112.56 0.419 05 05 0.554 recovery incl- 0. 0. 61% uding 48.78 136.74 87.96 0.420 05 05 0.549 recovery 0. 0. 100% and 136.74 161.34 24.60 0.418 07 04 0.569 recovery PP07- 0. 0. 06 17.98 166.00 148.02 0.383 03 06 0.528 incl- 0. 0. uding 80.71 166.00 85.29 0.629 05 08 0.849 incl- 0. 0. uding 103.02 166.00 62.98 0.781 06 09 1.052 incl- 0. 0. uding 123.00 154.00 31.00 1.039 07 14 1.293 incl- 0. 0. uding 123.00 135.00 12.00 1.202 09 16 1.503 0. 0. and 139.00 154.00 15.00 1.024 07 13 1.257(1) g/t = grams per tonne. (2) Equivalent copper and gold calculations use metal prices of US$1.50 for copper (Cu), $US 0.80 for zinc (Zn) and US$600/oz for gold (Au). Metallurgical recoveries and net smelter returns for all metals are assumed to be 100%. Equivalent gold = Au g/t + (Cu% x 33.07/19.29) + (Zn% x 17.64/19.29). While individual copper analyses reported to date are somewhat lower than expected (maximum 0.48%), several intervals of zinc in the 0.4% to 1.25% range have been reported. Silver values are similarly low (only 3 values greater than 7 g/t determined by ICP) and are not considered in the determination of gold equivalents until a more specific analytical technique is applied. The predominance of zinc over copper and silver is attributed to the drilling being peripheral to the core of the system. The samples were halved with a diamond saw and one half returned to the core box for reference. The samples were forwarded to Acme Analytical Laboratories Ltd.’s facility in Vancouver BC for analyses. Copper and zinc were determined by ICP-ES on a 1-gram subsample as part of Acme’s Group 7 AR package. Gold was determined by fire assay preparation with an ICP-ES finish using Acme’s Group 3B procedure on a 30-gram subsample. Acme reported results of its standards and re-analyses of samples and they were found to be within acceptable variance. Table 2 – Porphyry Pearl Drill SpecificationsHole E N Azimuth Inclination Length (m) PP 07-01 3,700 3,800 240 -70 445 PP 07-02 3,700 3,600 240 -60 427 PP 07-03 3,620 5,600 -90 229 PP 07-04 3,600 5,600 070 -60 188 PP 07-05 3,400 3,800 -90 348 PP 07-06 3,400 3,800 240 -60 163 Total 1,798Starfire’s Qualified Person as that term is defined in National Instrument 43-101 is Philip J. Rush, P.Geo., who is the author of this release. ON BEHALF OF THE BOARD OF DIRECTORS OF STARFIRE MINERALS INC. 'Dan Mosher' Dan Mosher President/CEO THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY STARFIRE MINERALS INC. 520-355 BURRARD STREET VANCOUVER, B.C. V6C 2G8 Telephone: 604.669.5642 Facsimile: 604.687.6714 TSXV: SFR 26.11.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------
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