DRILLING CONFIRMS PORPHYRY AT SILVER QUEEN
December 8, 2011 GREENWOOD, BRITISH COLUMBIA –New Nadina Explorations Limited (TSX VENTURE: NNA) expects to release the 2011 recent discovery drill core assay results during the week of Dec 12, 2011. The half century search has revealed the potential for a significant size copper, molybdenum, gold porphyry deposit (Target Titan B) at the Silver Queen property. The property was last in production by the Bradina JV in the 1970’s on the No 3 Vein system. The property is strategically located at Owen Lake, south of Houston BC on the Owen/Morice road which continues to Huckleberry mine. The property surface is privately owned with established onsite facilities.
The discovery deposit lies within a geophysical anomaly that extends 950 meters north-south and is open to the north and south. Additional geophysical anomalies lie nearby to the west of the drilled targets. The 2011 drilling within this anomaly trend is open in all directions. An image of “Target B” overlain on the Google Earth image is available on the Company website. Drilling as well as new geophysical lines to the north and south will be necessary to increase the size. The depth extent of the deposit is also unknown. The geophysical data does not close off the anomaly at depth. Drill hole 11S-13 ended in good mineralization at 777m. Diamond drilling will continue in 2012 as well as further geophysics. Casing from the deepest hole (11S-13 – 777m) remains intact for re-entry.
All results should be received from the lab early the week of Dec 12th and we expect to report drill hole assay results once compiled. There were 810 samples from 2,035 meters of sawn drill core from the porphyry discovery sent for analyses.
The bulk tonnage deposit, named “Itsit” is no longer just a vision or a dream but a reality. This hidden bulk tonnage porphyry was first sought after in the ‘60’s by Kennco. The search for the elusive source of the 20 plus vein system that encompass our property has been vindicated. Attempts to locate the porphyry system by Kennco in the 1960s were unsuccessful. Advances in geophysics since that time have made this discovery possible. Intensive study and the combined use of Geotech’s ZTEM airborne and Quantec’s Titan 24 DCIP and MT ground geophysics with expert geophysical interpretation provided the necessary information to target and drill this mineralized body.
The key to our success is determination and utilization of the most sophisticated current geophysical techniques offered to today’s mineral explorer. The Itsit discovery gives us further reason to expand our 2012 geophysical lines to first further define the target extent of this large anomaly as well as find additional targets. Porphyry deposits are known to form in clusters and we feel the Silver Queen property potential for more is high. Porphyries are generally low grade and contain considerable volume to provide a long mine life. Current metal prices remain high and information on monetary value and historical price ranges can be found on the internet.
The Company also wishes to advise that the 750,000 share warrants with expiry dates of October 29, 2011 have been issued. There was $75,000 realized from this exercise of which an insider participated for 250,000 shares.
This news release has been reviewed by Jim Hutter, P.Geo., the Qualified Person on the Silver Queen project, as defined by National Instrument 43-101, who approves the applicable content of this release.
ON BEHALF OF THE BOARD
President and Chief Executive Officer
For further information please visit the website at www.nadina.com
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