Company News Releases...
April 13, 2007
Pacific Booker Minerals Inc. Announces Resource Update
Vancouver BC, April 13, 2007: Pacific Booker Minerals Inc. is pleased to
announce that a new resource estimate has been completed for its wholly owned
Morrison porphyry copper/gold/ molybdenum deposit, located 35 km east of
Granisle, BC. This resource estimate is an update from a resource estimate
provided in the August 1, 2004 Beacon Hill Consultants Ltd. report entitled
"Preliminary Assessment, Morrison/Hearne Hill Project". This resource estimate
will also be the basis of a feasibility study that is currently being prepared
by Wardrop Engineering Inc.
The table below presents the updated Morrison resource estimate using a cut-off
grade of 0.3 % Equivalent Copper. The copper equivalent was calculated using
relative recovery and metal prices of $1.78/lb copper, $465/oz gold and $10/lb
molybdenum. Composited intervals from 98 drill holes representing 22,982 m of
core were used in the block model estimation. Gold grades were capped at 1.5 g/t
prior to compositing.
Class |
Tonnes (000's) |
Average Grade |
Contained Metal |
Cu EQ (%) |
Cu (%) |
Au (g/t) |
Mo (%) |
Cu (lb) 000,000's |
Au (oz) 000's |
Mo (lb) 000's |
Measured |
96,516 |
0.47 |
0.40 |
0.20 |
0.004 |
851.13 |
614.4 |
8,511 |
Indicated |
110,353 |
0.46 |
0.39 |
0.20 |
0.005 |
936.66 |
691.8 |
12,164 |
Measured / Indicated |
206,869 |
0.46 |
0.39 |
0.20 |
0.005 |
1,787.78 |
1,306.3 |
20,676 |
Inferred |
56,524 |
0.47 |
0.40 |
0.21 |
0.005 |
494.72 |
374.4 |
6,231 |
An area of elevated molybdenum grade occurs in the southeastern
portion of the deposit and includes 49 million tonnes of combined measured and
indicated material grading 0.40% Cu, 0.15 g/t Au and 0.01 % Mo.
Ronald G. Simpson, P.Geo., principal of Geosim Services Ltd., completed the
resource estimate for the project and is an independent qualified person as
defined by NI 43-101. A detailed 43-101 compliant technical report will be
completed and filed on SEDAR within 45 days.
Methodology & Quality Control
These mineral resource estimates were prepared pursuant to Canadian Institute of
Mining (CIM) Standards on Mineral Resources and Reserves, prepared by the CIM
Standing Committee on Reserve Definitions and adopted by the CIM Council
December 11, 2005 and published in the CIM Bulletin of November 2005 and
compliant with National Instrument 43-101 - Standards of Disclosure for Mineral
Exploration and Development and Mining Properties. Numbers have been rounded
subsequent to calculation.
Resource estimation was constrained by a 3-dimensional solid models developed
from geological and analytical data. Block size was 20x20x12 metres and grade
estimation was carried out by the ordinary kriging using 6 metre downhole drill
composites. Blocks were estimated in three passes using incremental search
distances. Tonnes were calculated using an average SG of 2.72 except for the
East Fault zone where an SG of 2.6 was used. The SG values were based on 309
measurements of drill core. In order to be classified as measured, a block was
required to have at least 6 composites within a radius of one third of the
corresponding variogram range for each zone (62 - 67 metres) and in at least 5
adjacent octants. To be classified as indicated, a block was required to have at
least 6 composites within a radius of two thirds of the variogram range (121 -
133 metres) and in at least 3 adjacent octants. All other estimated blocks were
assigned to the inferred category.
Exploration on the Morrison project was conducted under the supervision of E. T.
Kimura, P.Geo, who was the Company's Qualified Person as defined under NI
43-101. Drill samples for analysis averaged 3.05 metres in length of split NTW
and HQ-size core. All drill programs since 2000 utilized modern QA/QC practices
involving insertion and monitoring of reference standards, duplicates and
blanks.
All analytical work was conducted by Acme Analytical Laboratories Ltd., an ISO
9001 registered facility, located in Vancouver. Samples for check assays were
submitted to ALS Chemex, an ISO 9001 registered facility, also located in
Vancouver.
To view information regarding Pacific Booker Minerals Inc., including our
Environmental Assessment progress, please visit our website home page and
reports section at http://www.pacificbooker.com,
On Behalf of the Board of Directors
Erik Tornquist
Director
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