Oct. 13, 2010 (TheNewswire.ca) --
Vancouver, B.C October 13, 2010. Ocean Park Ventures (OOTC:OCPFF) (TSXV:OCP) Inc. ("OCP" or the "Company") - (TSX-V: OCP) is pleased to announce the successful drill confirmation of large scale porphyry copper gold mineralization at the Grubstake target of the Chisna copper-gold project, Alaska (Figure 1). The first two of six reconnaissance drill holes completed in the Grubstake target intercepted porphyry style mineralization within a nested porphyry system mapped as spanning approximately fifteen square kilometres. Porphyry copper-gold mineralization is enhanced by gold-enriched structural zones.
Results from the upper portions of two drill holes have been returned. Both holes are extensively altered and veined confirming copper-gold mineralization is associated with a large porphyry style mineral system. Results are summarized in the table below.
Table 1: Summary intercepts from holes GS-10-01 and GS-10-03
Hole # From (m) To (m) Interval (m) Copper (%) Gold (g/t) GS-10-01 123.1 132.0 8.9 0.13 0.10 226.4 231.2 4.8 0.04 1.32 GS-10-03 23.4 61.9 38.5 0.14 0.09 137.8 172.6 34.8 0.16 0.10 191.4 321.3 129.9 0.19 0.15 including 195.8 227.8 32.0 0.26 0.19
Drill hole GS-10-01 tested the area underlying a series of highly anomalous soil and bedrock geochemical samples and containing a chargeability high revealed during 3D-IP inversion modeling. Results returned to date are consistent with the pyritic margin of an alkalic porphyry copper-gold system. Gold values were found to be enriched within a structural zone with a drill intersected width of 11.4 metres, which included 4.8 metres returning 1.32 g/t gold. Gold mineralization of up to 11.45 g/t has previously been reported within surface structural zones at the Grubstake target (International Tower Hill Mines Ltd. Technical Report dated June 2010, and available on the Corvus Gold Inc. (TSX:KOR) web site). The intersection of one of these gold-bearing structures at over 200 metres depth in GS-10-01 demonstrates significant down-dip gold mineralization potential of these structures and indicates they are major exploration targets in addition to the main porphyry system.
Drill hole GS-10-03 tested a similar chargeability high and intersected over 200 metres of porphyry style mineralization, containing several broad zones of elevated copper-gold values, the best of which returned to date averages 0.26% copper and 0.19 g/t gold over 32 metres. Further results are pending from these two holes, and from the remaining four drill holes completed at the Grubstake target.
The drill holes tested a very limited area of the large Grubstake porphyry system, but successfully demonstrate both the porphyry copper-gold and structurally-hosted gold potential of this target. Immediate follow-up work will consist of three-dimensional modeling of geochemical, lithological and 3D-IP inversion data in order to drive an aggressive 2011 exploration campaign. Future drilling will explore for the expected higher grade copper-gold mineralized cores of these nested porphyry systems, and the down dip and along strike continuity of structurally controlled gold mineralization, which remains open in all directions.
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