Update On Seel Copper-Gold-Moly Property, Central British Columbia
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX.V: ABN) announces an update on its 10% owned Seel property, which has been provided from the operator, Gold Reach Resources Ltd. (Gold Reach). The Seel project is a highly prospective copper-gold-moly property located 8 km from the Huckelberry mine in central British Columbia. Gold Reach is currently completing a detailed analysis of both its winter 05 / 06 drill programs as well as the recently obtained information on the Damascus silver vein.
Gold Reach intends to focus its efforts, going forward, on the high grade copper-gold-moly zone as defined by holes S06-24 and S05-08 and will further explore the Damascus silver vein zone with the intention of bringing it to NI 43-101 reporting requirements. The Historical mid 1980's mineralization inventory reported in the Minfile database of the British Columbia Ministry of Energy and Mines reports an inferred resource of 196,087 tonnes grading 411.3 g/t silver, 0.47 g/t gold, 2.58% lead and 4.63% zinc to a depth of 100 metres and an indicated resource of 20,735 tonnes with the same grades to a depth of 20 metres. The Company cautions that the estimate, though relevant is historical in nature, is not NI 43-101 compliant and should not be relied upon. The Company plans to evaluate recently received geophysical and geochemical information over the Damascus vein system and surrounding area to determine targets for the next drill program on the Seel property, which is planned for late spring / early summer.
At the completion of the recent drill program a total of 32 holes (6600 metres to date) (Gold Reach News Release March 10th) have now been drilled on the Seel property by Gold Reach with a majority of holes intersecting significant widths of mineralization. The currently defined copper-gold-molybdenum mineralizing system extends approximately one kilometre in length by 500 metres in width and from surface to greater than 200 metres in depth as outlined by the current level of drilling.
The drill program on the Seel property is under the supervision of Peter Daubeny, PGeo, a qualified person under National Instrument 43-101.
Consolidated Abaddon Resources Inc. is a Canadian uranium and precious metal exploration company actively involved with the development of uranium properties in the ATHABASCA BASIN of northern Saskatchewan and the SIMS BASIN of northwestern Labrador. The Company is also developing a gold property in the RED LAKE MINING DISTRICT of northwestern Ontario.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information contact:
Consolidated Abaddon Resources Inc.
Toll Free: 800-567-8181
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
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