News Release
Airborne EM Survey and Drilling Completed More Claims Added to Marshall Lake
- Numerous sulphide zones outlined by EM Survey
- An additional 1,447m of drilling completed
- Ground Geophysics underway
- 161 additional claims added
East West Resource Corporation (TSX-V: EWR) and its joint venture partner Eyeconomy Holdings PLC (UK-PLUS: EYE) are pleased to announce 161 claim units have been added to the western side of the Marshall Lake property following the encouragement received from the airborne EM survey, and prospecting observations on the ground. This enlarges the property to 965 claim units or 60 square miles.
The property is now contiguous with claims held by Landore Resources near Toronto Lake where a nickel-copper deposit is being drilled.
Prospecting and ground geophysics are continuing in selected areas on the Marshall property and a 1,447m drill program has now been completed in the Gazooma, Cherry Hill and Teck areas, which will lead to further drilling in the future.
"Mise a la masse" down hole geophysical surveys are now being run focusing on the new Gazooma drill holes to trace the extent and down plunge of the sulphides.
Ground IP surveys are continuing to outline targets in the Main Billiton horizon area where zinc bearing sulphide zones occur (See News Release Dec.13/06, Jan.9/07 & Jan.22/07). These targets and newly discovered sulphide occurrences may be tested in the next phase of drilling.
The project set out above is being supervised by R. Middleton, P.Eng, who is the qualified person and responsible for quality control of the assaying and reporting. More details at www.eastwestres.com.
About the Marshall Lake Property:
East West Resource Corporation and Eyeconomy Holdings PLC each hold a 50% interest in the all year round road accessible Marshall Lake Copper-Zinc Volcanogenic Massive Sulphide (VMS) Property, located 310 kilometers north of Thunder Bay, Ontario, Canada. The Marshall Lake Property consists of 965 units or approximately 60 square miles in area.
The Marshall Lake area was explored between 1954 and 1996 leading to a series of high grade near surface copper-zinc discoveries. The area currently being explored by the joint venture partners for this style of mineralization now covers fifty square miles.
The property became road accessible in 2000 following the completion of all weather roads by logging operators. This new road access permits the deployment of heavy digging equipment and greatly improves the logistics of diamond drill and geophysical programs significantly increasing the ability to explore intensively but at lower cost.
Canadian National Rail access is 27 kilometres south of the property on a direct road while the northern half of Marshall is readily accessible via the major road from Nakina which leads to Ogoki. This road is a key Ontario provincial development access route.
In December 2006 and May 2007, the joint venture partners drilled the historical Gazooma copper showing, which significantly expanded the known mineralization returning values up to 4.47% copper, 86.59g/t silver, and 0.629g/t gold over 6.7 metres in hole GAZ-07-05 (June 6 2007, News Release).
A further five copper-zinc showings have been discovered in the central area of the property and the historical Billiton copper-zinc deposit, located 4 km to the north-east of Gazooma was re-drilled to confirm earlier results. These new discoveries along with expansion of known mineralized zones highlights the potential for multiple copper-zinc deposits on the property indicating that it has the potential to become a VMS camp comparable to the historical VMS camps such as Thomson, Bousquet and Mattabi.
The long-term strategy is to define and develop a series of near surface base metal deposits on the property and subsequently extend these to depth. The joint venture partners each contribute 50% to ongoing exploration expenditure.
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause East West Resource Corporation’s results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof.
ON BEHALF OF THE BOARD OF DIRECTORS
Blake Colvin
Blake Colvin, Director
