Nevada Star samples MAN

Vancouver — Nevada Star Resource (NEV-V) has tabled results from its surface sampling program carried out during the summer 2002 field season at its MAN nickel-copper-PGE-gold project, in Alaska.

The MAN project consists of a 120 sq. mile property wholly owned by Nevada Star plus and additional property known as Canwell, which is under option from Fort Knox Gold Resources. The MAN project is situated 245 miles northeast of Anchorage and 165 miles south of Fairbanks. The project is easily accessible via two paved highways.

The company sampled an ultramafic intrusion on the Canwell property and assays returned high-grade sulphide mineralization with nickel concentrations up to 13.68% nickel plus 2.9% copper, 0.147 oz. gold, 0.59 oz. platinum and 0.25 oz. palladium per ton from a float sample dubbed Canwell. The Canwell Ridge occurrence consists of semi-massive to massive sulphide mineralization, from 0.15-to-2 metres, discontinuously exposed along a strike length of about 250 metres. The mineralization occurs within a peridotitic border phase of an ultramafic intrusion.

Other samples taken from the Canwell Ridge include:

• Grab sample AD-001 which returned 4.99% nickel, 0.63% copper, 0.019 oz. gold, 0.091 oz. platinum 0.036 oz. palladium per ton.
• Float sample AD-021 assayed 12.80% nickel, 3.62% copper, 0.026 oz. gold, 0.046 oz. platinum and 0.204 oz. palladium.
• Float sample AD-022 assayed 12.74% nickel, 3.83% copper, 0.031 oz. gold, 0.209 oz. platinum and 0.274 oz. palladium.
• Float sample AD-024 averaged 13.35% nickel, 3.13% copper, 0.133 oz. gold, 0.565 oz. platinum and 0.232 oz. palladium.
• Chip sample AD-14 assayed 0.68% nickel 0.56% copper, 0.008 oz. gold, 0.023 oz. platinum and 0.021 oz. palladium over 3 metres.
• Chip sample AD-17 returned 3 metres averaging 0.82% nickel, 0.52% copper, 0.004 oz. gold, 0.016 oz. platinum and 0.013 oz. palladium.

Nevada Star states that the float samples were collected from slumped bedrock exposures and are believed to be very close to source. Both the chip and grab samples were taken from outcrop.

Moving to the Odie showing, 4,500 ft. to the west of the Canwell Ridge area, Nevada Star collected additional chip, grab and float samples. Highlights are as follows:

• Chip sample AD-011 returned 0.69% nickel, 0.57% copper, 0.010 oz. gold, 0.072 oz. platinum and 0.081 oz. palladium over 3 metres.
• Float sample AD-094 returned 1.24% nickel, 0.50% copper, 0.001 oz platinum and 0.002 oz. palladium.
• Grab sample AD-100 assayed 5.62% nickel, 1.19% copper, 0.003 oz. gold, 0.019 oz. platinum and 0.068 oz. palladium.

Nevada Star has also completed a core drill program in the vicinity of these showings. Drilling was hampered by poor ground conditions caused by a high degree of rock fracturing related to the nearby Denali fault zone. Drill results are still pending.

The junior is upbeat about these results since the high-grade nature of a number of the samples emphasizes the potential for larger high-grade discoveries elsewhere within Nevada Star’s MAN project. The project is host to a number of similar, but much larger ultramafic bodies, which are also under active exploration. The company plans to run induced polarization geophysical surveys over key target areas next summer, followed by drilling.