| September 26, 2004
John Greenslade, President of Minterra Resource Corp. (the "Company"), advises that, at the request of the Company, its shares were halted from trading on the TSX Venture Exchange. The trading halt was requested in reaction to increased trading activity and an increase in trading price while a diamond drill program was underway on the Company's Star Property, located in the Omineca Mining Division, Northern British Columbia.
Previous prospecting identified eight zones of mineralization containing magmatic Platinum (Pt) and Palladium (Pd) bearing sulphides of chalcopyrite (copper-Cu) and pyrrhotite, disseminated throughout gently dipping olivine clinopyroxenite and pyroxenite layers. (see News release November 4, 2003).
An induced polarization, of chargeability, resistivity and self potential geophysical survey was conducted in 2003 on three (3) separate grids - referred to as the Haslinger A ("HA"), Haslinger C ("HC") and the GL-Queen areas. The survey grid covered 3.225 line kilometres. The geophysical survey delineated shallow-dipping sulphide mineralized layers on the HA, HC and GL "zones". The HA, HC and GL zones can be traced in outcrops for at least 5 kilometres (only a small portion of which has been covered by the current geophysical program). Chargeability readings reach up to 115 milliseconds, which generally represent extremely high sulphide content. All chargeability anomalies can be traced to mineralized outcrops on surface containing chalcopyrite, pyrite and pyrrhotite. Previous bedrock grab samples from these mineralized outcrops returned values up to 1.1% copper, up to 1.1 grams of platinum and up to 1.5 grams of palladium. Sporadic values of nickel and cobalt are also found in these mineralized layers. (See News release dated November 20, 2003).
The GL and HC Zones are 2 of 8 "zones" that contain mineralized sulphide layers within the Polaris Ultramafic Complex. A preliminary 8 diamond drill hole program (NQ core) has now been completed. Originally 12 drill holes were proposed, however, the program ended sooner due to having to drill deeper holes, as strong sulphide mineralization continued beyond the originally programmed depths, and also due to increased costs and delays resulting from inclement weather. Three diamond drill holes (GL 1 to 3) were drilled in the GL zone. Five diamond drill holes (HC 1 to 5) were drilled in the HC zone. The total drilled in both zones was 3,423 feet (1,044.04 m).
The Company is pleased to announce that the first analytical results for diamond drill holes GL-3 and HC-2 have been received. The GL zone is approximately 5 kilometers south of the HC zone.
Drill Hole GL-3:
Analytical results have been received for samples taken from 266 feet to 470 feet. This hole was drilled at - 90 degrees to a depth of 474 feet. Highlights include the following:
Note: 1 ppm = 1 gram 10,000 ppm = 1%
Analytical results for the top portion of drill hole GL-3 (12 to 266 feet) are still pending.
Drill Hole HC-2:
Analytical results have been received for samples taken from 20 to 275 feet. This hole was drilled vertically to a depth of 379 feet. This interval returned trace amounts of Pt-Pd and anomalous values up to 2,520 ppm Cu and 389 ppm Ni.
These initial drill intercepts were assayed at ALS Chemex, North Vancouver, British Columbia. The balance of the drill holes are being assayed at Acme Analytical Laboratories Ltd., Vancouver, British Columbia. Analytical results are anticipated to be received over the next 1-3 weeks as samples arrive at the laboratory from the drill site.
Analytical results for drill holes GL-1, GL-2, HC-1, HC-3, HC-4 and HC-5 are pending.
Ursula Mowat ("Mowat"), P. Geo., a Qualified Person as defined by National Instrument 43-101 and the Optionor of the Star property, selected drill site locations, supervised the drill program (including splitting and sampling of drill core, sample identification and shipment), and logged the drill core. Mowat has reviewed and verified the technical information in this release.
ON BEHALF OF THE BOARD OF DIRECTORS OF MINTERRA RESOURCE CORP.
"John Greenslade"
JOHN W. GREENSLADE PRESIDENT
For further information please contact John Greenslade, President, at (604) 687-6690 The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. | |


