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Message: 12.19% Zn and 2.18% Pb Over 15.29 Meters From Ruddock Creek Underground Drilling

12.19% Zn and 2.18% Pb Over 15.29 Meters From Ruddock Creek Underground Drilling

posted on Jan 08, 2009 02:23AM
January 8, 2009
Selkirk Metals Corp.: 12.19% Zn and 2.18% Pb Over 15.29 Meters From Ruddock Creek Underground Drilling
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2009) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) is pleased to report the latest set of assay results from the underground diamond drilling program at the Ruddock Creek Property, located 100 km north-northwest of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia.

The most recent results compiled by the Company include holes EUG-08-17 to 23. These holes were located in the central portion of the area drilled during 2008, except for holes EUG-21 and 23, which contain the westernmost intercepts drilled.

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                 From       To   Interval      Zn     Pb      Ag
Drill Hole #       (m)      (m)        (m)      %      %     g/t
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EUG-08-017      20.21    26.85       6.64    8.03   1.74    2.35
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                73.47    78.25       4.78    4.48   1.22    7.51
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EUG-08-018      52.00    54.64       2.64    9.24   2.14    2.35
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                26.96    33.09       6.13   12.70   2.84    3.00
EUG-08-019    --------------------------------------------------
                84.10    88.71       4.61    9.31   1.73    2.92
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EUG-08-020      70.28    75.73       5.45   11.72   2.40    3.26
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               179.01    194.3      15.29   12.19   2.18    3.06
EUG-08-021    --------------------------------------------------
               227.58   238.41      10.83   10.23   1.96    2.33
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                58.00    61.21       3.21    6.67   1.15    3.21
EUG-08-023    --------------------------------------------------
               175.65   183.52       7.87    7.30   1.20    1.96
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Results from holes EUG-08-1 to 16, which are among the most westerly holes completed, have been previously released and are included in the following table.

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                 From       To   Interval      Zn     Pb      Ag
Drill Hole #       (m)      (m)        (m)      %      %     g/t
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               350.60   364.11      13.51    3.10   1.05    8.88
              --------------------------------------------------
EUG-08-001     386.49   391.63       5.14   12.77   1.86    1.75
              --------------------------------------------------
               397.10   398.29       1.19    9.02   2.64    4.00
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EUG-08-002     232.00   236.24       4.24    4.39   0.92    0.00
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EUG-08-003     230.20   231.20       1.00   16.32   3.36    5.00
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EUG-08-004     142.15   144.81       2.66   13.72   3.12    2.88
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               251.37   262.79      11.42    7.51   0.86    1.19
EUG-08-005    --------------------------------------------------
               313.10   331.97      18.87    8.38   1.52    2.10
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EUG-08-007     129.57   134.20       4.63   12.71   2.87    4.14
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EUG-08-008      32.61    40.15       7.54    3.27   0.58    0.76
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EUG-08-009      61.44    71.15       9.71    4.65   0.96    2.63
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                70.79    73.96       3.17    4.81   0.97    2.08
EUG-08-010    --------------------------------------------------
               107.00   108.60       1.60   11.37   2.87    2.55
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EUG-08-011      90.64    94.18       3.54    7.59   1.61    2.44
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EUG-08-012      51.44    55.02       3.58   10.42   2.39    1.85
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EUG-08-013      56.85    58.75       1.90   16.71   3.58    5.54
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                69.29    98.51      29.22    3.18   0.77    0.46
EUG-08-015    --------------------------------------------------
Incl.           78.65    82.19       3.54   11.54   2.25    2.32
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EUG-08-016      64.38    70.10       5.72    6.05   0.91    1.51
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The underground drill program completed during 2008 was designed to provide additional close spaced drill intercepts of the western extension of the E Zone portion of the Ruddock Creek Sulphide Horizon. This zone has been traced from surface outcrops, at the east end, for in excess of 1.2 kilometers, down dip to the west. The Ruddock Creek Sulphide Horizon consists dominantly of calc-silicate rocks, pegmatites and lesser biotite schist. Lenses of massive sulphide, composed of sphalerite, pyrrhotite and galena in order of abundance are hosted by the calc-silicate portions of the package. The Ruddock Creek Sulphide Horizon varies from less than 5m to over 50m in true thickness. Multiple individual massive sulphide lenses are present within the horizon, ranging from less than 1m to greater than 5m in true thickness, separated by variable thicknesses of non mineralized pegmatite, calc-silicate or biotite schist. Locally these stacked lenses of massive sulphide and host rock, attain true thicknesses of over 30m of ore grade material.

Previous surface drill programs on the near surface, eastern portion, of the E Zone have shown it to be up to 450m in dip extent from the northern to southernmost intercepts. In the area of the underground drilling the longest defined dip length of the horizon is 300m, however this remains open in both directions.

All of the 2008 drilling was completed from drill stations located along the northerly trending decline, or on the easterly trending crosscut developed at the 900m point of the decline. The crosscut was developed to a length of 170 meters east of the main decline and includes four drill stations. The underground diamond drilling program has completed the required number of drill holes necessary to finalize the resource calculation for the portion of the E-Zone from surface outcrop to the point where it has been intersected by the decline, a length of approximately 1.2 kilometers.

Operations on the Ruddock Creek Property are being conducted under the supervision of the Company's Qualified Person (as defined by NI 43-101), Jim Miller-Tait, P.Geo., Vice President of Exploration. Acme Analytical Laboratories Ltd. was engaged to carry out the analytical work on all samples. The analytical procedure utilized was the Group 7AR 23 multi-element assay by ICP-AES methods.

On Behalf of the Board of Directors:

Gordon Keevil, President
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