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December 21, 2011 - Itsit Porphyry - 248m of 0.435% and 258m of 0.384% Copper Equivalent including 11m of 0.678%

December 21, 2011 GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (TSX VENTURE: NNA) reports discovery drill hole assays on the copper-molybdenum-gold porphyry Itsit deposit (Titan Target B) at the 100% owned Silver Queen property, south of Houston, BC.

During September and October, thirteen holes (4,490.2 m) were drilled, six (1,723.5m) into Target A and seven (2,766.7m) were directed at Titan Target B. Titan A target was interpreted to be a potential vein type system of the Silver Queen type. Diamond drilling failed to intersect a likely source for this anomaly. Refer NR Dec16/11.

Target B, a conductive zone with an associated high chargeability, located to the southeast of the Silver Queen No3 Vein system, was proven to be a copper-molybdenum and gold deposit where mineralization is contained within a stockwork zone within quartz-feldspar porphyry. Three of the seven holes, were successful in intersecting encouraging grade. Drill footage fell short of the originally planned 10,000 meters as drilling difficulties were encountered due to a clay and water-bearing fault zone located directly above the mineralized zone. Drilling difficulties were overcome in the later holes by drilling down to the mineralized zone with HQ rods and then reducing to NQ once the rock was competent. The HQ rods thereby serve as casing for the NQ string and allow drilling to continue without hindrance from the constricting clay zone.

 

sectiongradetargetALR

Click image for larger view of section map.

Silver Queen 2011 Diamond Drilling, ITSIT Deposit, Target B

 

HOLE ID

EAST

NORTH

ELEV (m)

LENGTH (m)

Azimuth (UTM)

DIP

11S-01

650423

5994603

865.5

572

90

-80

11S-03

650423

5994603

865.5

288

270

-70

11S-06

650276

5994741

858

361.5

86.5

-73.3

11S-09

650229

5994737

861.5

189.2

280

-80

11S-10

650141

5994606

849

72

268

-68.5

11S-12

650177

5994806

876

507

85

-75

11S-13

650180

5994662

853

777

82

-76.5

 

 

 

 

Total: 2,766.7

 

 

 

Results from Target B holes are presented in summary form below:

Assay Summaries,     ITSIT Deposit, Target B

 

 

 

11S-01

 

 

 

 

 

 

From (m)

To (m)

Length (m)

Au (g/t)

Cu (%)

Mo (%)

Cu Equiv (%)

248

263

15

0.034

0.216

0.011

0.284

263

312.2

49.2

0.019

0.066

0.0015

0.085

321.17

512

190.83

0.029

0.121

0.0020

0.149

512

536.53

24.53

0.051

0.219

0.0026

0.265

549.65

572 EOH

22.35

0.025

0.116

0.0046

0.152

 

11S-03

Rods stuck - lost hole at 288m – Hole bottomed in mineralization

From (m)

To (m)

Length (m)

Au (g/t)

Cu (%)

Mo (%)

Cu Equiv (%)

208.4

288

79.6

0.123

0.230

0.0010

0.321

including

 

 

 

 

 

 

208.4

219

10.6

0.114

0.210

0.0010

0.294

219

234

15

0.076

0.162

0.0019

0.223

234

252

18

0.128

0.212

0.0005

0.304

252

264

12

0.198

0.321

0.0010

0.464

264

276.55

12.55

0.114

0.292

0.0009

0.376

276.55

280.3

3.75

0.008

0.002

0.0003

0.009

280.3

288 EOH

7.7

0.174

0.306

0.0011

0.432

 

11S-06

Hole stopped at 361.7m due to squeezing clay – encountered strong mineralization

From (m)

To (m)

Length (m)

Au (g/t)

Cu (%)

Mo (%)

Cu Equiv (%)

112.79

361.7

248.91

0.12

0.197

0.041

0.435

including:

 

 

 

 

 

 

112.79

135

22.21

0.06

0.123

0.026

0.263

135

147

12

0.08

0.202

0.051

0.454

147

168

21

0.10

0.204

0.041

0.435

168

180

12

0.06

0.106

0.024

0.240

180

195

15

0.06

0.160

0.033

0.332

195

228

33

0.06

0.134

0.056

0.394

228

243

15

0.32

0.222

0.041

0.606

243

255

12

0.10

0.193

0.024

0.354

255

267

12

0.14

0.195

0.031

0.415

267

279.7

12.7

0.11

0.164

0.024

0.333

279.7

291

11.3

0.16

0.247

0.082

0.678

291

312

21

0.13

0.261

0.028

0.461

312

336

24

0.14

0.254

0.041

0.510

336

354

18

0.14

0.260

0.060

0.590

354

361.7 EOH

7.7

0.14

0.300

0.040

0.552

 

11S-09

 

From (m)

To (m)

Length (m)

Au (g/t)

Cu (%)

Mo (%)

Cu Equiv (%)

98.1

172

73.9

0.028

0.010

0.007

0.054

including:

 

 

 

 

 

 

120

141

21

0.040

0.013

0.011

0.085

 

11S-10

abandoned at 72m due to excessive water flow. No significant values.

 

11S-12

 

From (m)

To (m)

Length (m)

Au (g/t)

Cu (%)

Mo (%)

Cu Equiv (%)

300.65

307.45

6.8

0.335

0.011

0.002

0.254

407.65

408.8

1.15

0.14

0.163

0.014

0.315

 

11S-13

Cored 693m of near continuous mineralization – open to depth

 

From (m)

To (m)

Length (m)

Au (g/t)

Cu (%)

Mo (%)

Cu Equiv (%)

84.35

330.55

246.2

0.054

0.099

0.016

0.208

including:

 

 

 

 

 

 

84.35

120

35.65

0.081

0.028

0.010

0.123

120

162

42

0.031

0.076

0.016

0.160

162

216

54

0.046

0.125

0.038

0.301

216

256.1

40.1

0.067

0.142

0.015

0.245

256.1

283.35

27.25

0.051

0.043

0.0013

0.084

283.35

330.55

47.2

0.055

0.137

0.019

0.249

340.9

508.8

167.9

0.038

0.0978

0.005

0.143

including:

 

 

 

 

 

 

340.9

354

13.1

0.029

0.124

0.036

0.282

354

388.55

34.55

0.040

0.046

0.0008

0.077

388.55

498

109.45

0.040

0.100

0.0004

0.130

498

508.8

10.8

0.026

0.207

0.025

0.321

519

777

258

0.035

0.196

0.043

0.384

including:

 

 

 

 

 

 

519

564

45

0.053

0.189

0.044

0.395

564

585

21

0.050

0.255

0.051

0.485

585

645

60

0.041

0.233

0.039

0.412

645

669

24

0.025

0.164

0.042

0.341

669

684

15

0.022

0.152

0.029

0.280

684

696

12

0.025

0.200

0.033

0.343

696

720

24

0.020

0.169

0.059

0.409

720

732

12

0.013

0.135

0.027

0.250

732

756

24

0.027

0.215

0.045

0.406

756

777

21

0.026

0.159

0.045

0.351

 

Copper equivalent values are provided for comparison purposes only, and do not take into account differences in metal recoveries or smelter charges, or price changes or other factors which could affect the actual value of the mineralized material. Copper equivalent values stated here are based on the following prices, current as of December 9, 2011

Au: $55.00 USD/g   Cu: $7.80 USD/kg     Mo: $30.00 USD/kg

Hole 11S-01 entered the mineralized zone at a depth of 248 meters bottoming in mineralization at 572 meters. The core was weakly to moderately mineralized with the best values seen in the lower part of the hole.

Hole 11S-03 passed out of the fault zone at a depth of 208.4 meters and continued to 288 meters, at which point the hole was lost due to seizing of the rods by the squeezing clay layer above. The hole bottomed in mineralization. Prior to end of hole, visual increase in mineralization was seen as confirmed later by assay data. Every attempt was made to continue the hole and rods were lost.

Hole 11S-06 encountered strong mineralization at 112.79 meters which was continuous throughout the remainder of the hole. The hole was stopped in mineralized stockwork at 361.7 meters due to constriction of the rods before reaching target depth. The 248.91m averaging 0.435% copper equivalent is highly encouraging as the deeper grades showed increased values. The fault zone causing the drill problems has been mapped and future drill holes to test this section of the anomaly can be drilled entirely beneath the shallow dipping fault by situating holes to the west of its surface trace, therefore avoiding the obstacles encountered in these initial discovery holes.

Hole 11S-12 passed out of the fault zone at 32.2 meters but did not encounter the quartz-feldspar porphyry. The hole was drilled to 507 meters and returned only occasional narrow intervals of mineralization.

Drill hole 11S-13 encountered the mineralized zone at a depth of 84.35 meters and cored 693 meters of nearly continuous mineralization to a depth of 777 meters, where it was stopped while still within strong mineralization. The hole was ended on the drill contract expiry date and the casing remains intact and capped for re-entry for deepening and conducting down hole geophysics.

The Itsit deposit lies within a geophysical anomaly that extends 950 meters north-south and is open to the north and south of the Titan24 survey grid. The depth extent of the deposit is also unknown as the geophysical data limits do not close off the anomaly at depth. Further geophysics followed by a large drill program will be necessary to obtain a better understanding of the size potential.

We are pleased with the three holes that encountered good mineralization. A new deposit with potential for a large ore body has been found. Information gathered this year will guide further advancement in 2012. We see good mineralization, the anomaly size can be increased and geophysics indicates potentially higher grade areas within the deposit. Mapping and use of appropriate equipment will help to overcome the drilling problems. The property is fully accessible year round and located within an area supportive to the mining community.

Rob Hearst, P.Geo., at Quantec Geoscience Ltd. comments, “Titan 24 is a high powered, state-of-the-art, deep penetrating, direct current resistivity, induced polarization and magnetotelluric ground based survey system operated by Quantec Geoscience Ltd. of Toronto, Ontario.  In the application of the system to the Silver Queen property, after inversion depths for the direct current resistivity and induced polarization of over 550m and depths with the magnetotellurics of over 1500m were obtained.”

Interpretation of geophysical data at the Silver Queen project is ongoing at the Advanced Geophysical Interpretation Centre of Mira Geoscience in Vancouver, BC. The ZTEM, aeromagnetic, and Titan24 data will be used in conjunction with the ongoing programs at the Silver Queen project. Geophysical data referenced in this press release has been reviewed by Peter Kowalczyk P.Geo., a qualified person within the terms of NI 43-101 standards.

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.

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