VANCOUVER, Sept. 21 /CNW/ - Nanika Resources Inc. (TSX-V: NKA and FSE: C7X) is pleased to announce that a work permit application has been submitted to commence a drill program on Nanika's 100 per cent owned Red Cliff East Property.
Nanika's Red Cliff East is located immediately adjacent to the property currently being worked by Decade Resources Inc. (TSX-V:DEC). Decade's "Montrose Zone" is approximately 400 meters away from Nanika's property.
Decade has today announced results including a 0.3 interval of 2847 g/t gold and 18 meters of 49 g/t gold. These results confirm the high grade nature of the structure in the area. Other Decade intercepts included 24.7 metres grading 20.87 grams per tonne gold with 2.13 metres averaging 142.2 grams/tonne gold. The intersections are believed to represent 70% of true width. Results for a further 24 drill holes testing the Montrose zone are pending and Decade is currently planning follow-up drilling on the Montrose zone this season. The Montrose zone is accessible by drill road and is within forest cover that will allow for drilling through the remainder of the year. Accordingly, the site is being readied for freeze up conditions. (For full results please see the Decade Resources Inc. news release of September 21, 2010).
For more information on Nanika's previous work on the Red Cliff East property please see the disclosure in Nanika's news releases of October 15, 2009, October 29, 2009, and November 13, 2009.
Alex Walus, P. Geo., a qualified person under National Instrument 43-101 is supervising Nanika's work program and has reviewed and approved the technical disclosure in this news release.
About Nanika Resources Inc.
Nanika Resources Inc. is a TSX Venture listed mineral exploration and development company focusing on the advancement of its mineral properties, all of which are located within Canada.
On Behalf of the Board, James D. Jacuta,
Chairman, President and CEO.
To receive Company news via email please contact [email protected] and
mention "Nanika Resources News" in the subject line.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
%SEDAR: 00005736E
For further information: CHF Investor Relations at 416-868-1079; Christopher Haldane, Account Manager, at ext. 237, [email protected]; Jeanny So, Director of Operations, at ext. 225, [email protected], Or Nanika Resources Inc. at 604-638-0699 or Toll Free at 1-866-580-0699, http://www.nanikaresources.com
Share this article