The crew will be ground-truthing several kilometer-scale, high amplitude (up to 7,200 gamma) magnetic anomalies highlighted by the recently completed high-resolution geophysical surveys on its projects (see news release dated April 15, 2019).
The magnetic anomalies are interpreted to be caused by accumulations of magnetite in the host gabbros, which may potentially host concentrations of iron, titanium and vanadium mineralization (Fe-Ti-V). The magnetic highs are coincident with anomalous vanadium up to 158 ppm in stream sediment samples collected by the BC Geological Survey (BCGS). The majority of the anomalies are favourably located near tidewater or along active logging roads, allowing for good access for sampling crews. Bedrock exposures in these anomalous areas will be extensively sampled on all three properties and assay results will be released upon receipt.
Morgan Good, Delrey’s President and Chief Executive Officer commented, “We are very excited for our projects to have boots on the ground so early in the exploration season. A low snowpack and milder conditions along BC’s northern coast allowed us to begin exploring our BC assets in a relatively short time frame after acquiring them. Delrey’s guiding objective is to move rapidly on evaluating our projects and this is a great first step. We are working on a swift turnaround of assay results which could potentially generate several high priority drill targets for our 2019 season on these projects.”
Blackie is a 1,213 hectare property, 100% owned by Delrey and located 96km south-southwest of Prince Rupert, British Columbia along tide-water. The property is centered on a large gabbroic body with estimated dimensions of 1.2km x 0.4km x 0.5km hosting iron-titanium-vanadium mineralization within massive titaniferous magnetite with historic bedrock samples assaying as high as 2.14% V2O5.1
Porcher is a 3,525-hectare property, 100% owned by Delrey and located 38km south-southwest of Prince Rupert, British Columbia along tide-water. The property is centered on two north-south trending gabbroic dykes (5.2km x 1km and 4km x 0.6km) hosting iron-titanium-vanadium mineralization within titaniferous magnetite with historic concentrate grades assaying as high as 0.84% V2O5.1
Star is a 4,618-hectare property, 100% owned by Delrey and located 27km south-southwest of Prince Rupert, British Columbia along tide-water. The property encompasses several strong magnetic anomalies which are drained by highly anomalous vanadium in streams, up to 158ppm (99th percentile), sampled in 2000 as part of the British Columbia Geological Survey’s Regional Geochemical Survey (RGS) program.1
Source: Company Press Release.
