Sep. 27, 2010 (TheNewswire.ca) --
September 27, 2010, Vancouver, BC - Paul Matysek, acting President and Chairman of Ocean Park Ventures (OOTC:OCPFF) (TSXV:OCP) Corp. (TSX Venture - OCP) is pleased to announce the successful conclusion of the Phase 1 diamond drill program at the Chisna Project located in the Chistochina Mining District of south-central Alaska, 350 km northeast of the city of Anchorage.
The 2010 exploration program, which included 2926 metres (9600 feet) of diamond drilling, has successfully identified a large number of copper-gold targets, two of which were drill tested as part of the Phase 1 drill program. These results expand the known styles of mineralization to include porphyry copper-gold-molybdenum, skarn copper-iron and skarn copper-gold targets as well as structurally controlled gold-copper mineralization. Assay results for drilling and most surface rock and soil sampling are pending.
Completed geophysical surveys include airborne ZTEM surveying covering 75% of the Chisna property, ground-based magnetotelluric (MT) and three dimensional induced polarization (3D-IP) chargeability-resistivity surveying and inversion modeling over selected target areas. Field mapping and mineralized target identification are ongoing as weather permits.
Drilling Targets Copper-Gold Zones in POW and Southeast Chisna Claim Blocks
The POW block covers a favorably mineralized belt of rocks that is 36 kilometres in length and contains the POW, Donut, Ptarmigan, Ravine and Rockon prospects. Phase 1 drilling targeted the POW occurrence in three drill holes. POW is a gold-copper mineralized structure with an exposed strike length in excess of 1.5 km comprising quartz-associated gold-bearing chalcopyrite mineralization within an extensive area of elevated soil geochemistry. POW is open along strike to the north and south from current drilling, and is overlapped on its north margin by a placer mining operation. Four other significant prospects have been identified in the POW block, and consist of copper-iron skarn and copper-gold skarn targets that cover colour anomalies in excess of 4 square kilometres. The POW block contains numerous historical placer gold (OOTC:PGCR) mining sites which are estimated to have produced in excess of 200,000 oz of gold since the late 1800's.
The Southeast Chisna Block covers an area of 50,000+ hectares and includes the North and South Grubstake, Dome, Long Lake and Cobb prospects. The Grubstake prospect was the target of an extensive, 500+ soil and detailed bedrock geochemical mapping program from 2006 to 2008, and has been described as hosting superimposed porphyry copper-gold-molybdenum systems. This mapping and sampling program was expanded in 2010 with an additional 200+ soil and rock samples. Phase 1 drilling targeted porphyry-related mineralization in a series of six diamond drill holes. Drilling targeted multiple mineralization centers spaced between 1.0 and 1.5 kilometres apart. Drilling targeted prospective stratigraphy, at-depth continuity of positive surface geochemical results, and 3D-IP chargeability and resistivity anomalies. Assay results from this drilling are pending.
Field investigations at Grubstake revealed several metre-wide mineralized quartz veins with interpreted strike lengths as defined by boulder trains of up to several hundred meters.
The Chisna Project - The New Alaskan District-Scale Porphyry Copper-Gold Play
The Chisna Project is a district-scale copper-gold exploration play which hosts several copper-gold occurrences. The project encompasses a cluster of porphyry copper-gold centers coincident with Cretaceous intrusions in late Paleozoic host rocks. The Chisna Project occurs within a large porphyry belt which includes the 4.1 billion tonne Pebble Gold-Copper Porphyry Deposit 600 km to the southwest and the 350 million tonne Orange Hill Copper-Molybdenum Porphyry Deposit to the southeast. Results at Chisna to date show the potential for a series of major new porphyry copper-gold discoveries.
The Chisna Project is a Joint Venture between Ocean Park's wholly owned subsidiary Ocean Park Alaska Corp. and Corvus Gold Inc. ("Corvus")(TSX: KOR). Ocean Park's 51 % interest in the Joint Venture is earned by its US$20M contribution for exploration expenditures over a 5 year period. Ocean Park may earn an additional 19% by producing a bankable feasibility that delineates a mining project on the Chisna property that produces at least 300,000 gold equivalent ounces per year.
Mr. Chris Taylor, M.Sc. P.Geo, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of this news release.
For further information please contact Mr. Paul Matysek, M.Sc. P.Geo., acting President and Chairman at 604-684-9007, or Mr. Chris Taylor, P.Geo., Senior Geologist at 604-681-0084.
ON BEHALF OF THE BOARD
"Paul Matysek"
Paul Matysek
Acting President and Chairman
NEITHER THE TSX VENTURE EXCAHNGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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