December 16, 2010: GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (TSX Venture: NNA) summarizes current exploration activities at it’s 100% owned Silver Queen Property located 43 km south of Houston BC. Reference to the program can be obtained from the disseminated MD&A Report dated July 30, 2010.
2010 Drill Program – Summary
Drilling totalling 4109.5 metres was conducted on six areas of the property during September and October of 2010. These areas, designated the IP Anomaly, Drainage Ditch, Camp North, Cole North, Swamp and NG-3 were described in a MD&A dated July 30, 2010.
A 3D IP survey was conducted over an area of the property in 2004 and was followed up in 2005 by drilling of DDH 05S-01 to a depth of 310 metres. This hole encountered heavy disseminated pyrite through most of its length but did not encounter any significant structures or values. A re-interpretation of the geophysical data in 2010 indicated the need for a drill hole approximately 150 metres to the southwest of the location drilled in 2005. DDH 10S-01, drilled NQ2 sized core to a depth of 269 metres, was the first hole of the 2010 program and encountered a silica-pyrite stockwork from 44 metres to 169 metres containing minor amounts of gold, where sampled. The boundaries of the stockwork are gradational, with a gradual decrease in the intensity of veining away from the main body of stockwork such that only isolated silica-pyrite veinlets are encountered at the top and bottom of the hole. The main stockwork coincides with a post-mineral feldspar porphyry dyke swarm, with core length of individual dyke intersections being 0.3 to 9.3 metres. Aside from size, the silica-pyrite veinlets comprising the stockwork are very similar in appearance to the gold-bearing silica-pyrite sections of the No. 3 Vein.
Core length (metres)
Au (grams/ tonne)
Ag (grams/ tonne)
Silica-pyrite veins and stockwork
Silica-pyrite alteration in hangingwall of vein
Duplicate of above Silica-pyrite alteration in hangingwall of vein
7cm carbonate-silica-pyrite-sphalerite vein at 30-40d to CA
These results are encouraging as being indicative of porphyry-style mineralization. Logs for DDH NG-4, a deep vertical hole drilled in 1970 about 200 metres to the west of 10S-01, report similar silica-pyrite stockwork development but samples from that hole were not routinely run for gold. To the south of NG-4, holes 96S-03 and 96S-04 reported silica-pyrite stockwork, but returned lower gold values.
A review of existing geophysical data is planned to define further drill targets or delineate areas where more geophysical work and soil geochemistry would be useful. The large area immediately to the southwest of DDH 10S-01 has seen very little exploration to date and has never been drilled.
Holes 10S-02 to 10S-04 and 10S-12 were drilled to investigate areas of high-grade zinc mineralization found by trenching in previous years. These holes failed to encounter significant mineralization at depth, presumably due to significant disruption by faulting. No further work is planned for this area.
Holes 10S-05 to10S-11 were drilled to test the Camp North area with the objective of extending the Camp Vein system. Drilling was hampered in this area by extensive heavy overburden, causing the abandonment of one hole without reaching bedrock.
A conductor indicated by an EM-16 survey was drilled and yielded several narrow veins, although metal values were low. It is believed that much of the pyrite found in this area could be of primary origin, and that the area may therefore be prospective for VMS-type deposits. Aside from this program, this area has received very little attention and continues to be of interest.
Six holes were drilled from three locations to test the NG-3 Vein. The structure was rather narrow but showed good continuity. Gold values ranged up to 9.11 g/t and silver values were up to 336.9 g/t. Very little of the structure has been tested so far, and it remains open to the southeast and to depth.
Swamp and Cole North:
Logging and sampling of core from these areas is continuing.
Several targets have been indicated from a preliminary review of existing geophysical data that may warrant conducting a Titan 24 Deep Imaging Survey; specifically in search of porphyry systems such as those which underlie the Huckleberry Property to the south and the Silver Hope property to the northeast of Silver Queen.
Jim Hutter, P.Geo. is the Qualified Person as defined by National Instrument 43-101 on the Silver Queen project, and has reviewed and approved the applicable content of this release.
ON BEHALF OF THE BOARD
Ellen Clements, President and Chief Executive Officer
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
November 2, 2010: GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (TSX Venture: NNA) summarizes current exploration activities at it’s 100% owned Silver Queen Property located 43 km south of Houston BC. Reference to the program can be obtained from the disseminated MD&A Report dated July 30, 2010.
Twenty six NQ2 sized core holes were drilled in six areas for a total of 4,109.5 metres. Drilling was conducted in six locations: 1) IP anomaly (south), 2) Drainage ditch (old millsite), 3) North Camp, 4) Swamp south, 5) Cole North and 6) NG-3. The location map can be viewed on the Company website. click here
Drilling on both the northern (Camp North) and southern (IP Anomaly) portions of the property encountered indications of the proximity of a porphyry system. The single hole drilled on the IP Anomaly, south of previously known mineralization, encountered 125 metres of quartz-pyrite stockwork interspersed with post-mineral dykes, most being feldspar porphyry. Six holes were drilled in a new area (Camp North) where felsic tuff and highly pyritic rocks were encountered. Samples taken from core logged to date have been sent to SGS Mineral Services in Vancouver for analysis. Lab turn around is approximately four to six weeks.
November 2, 2010: GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (TSX VENTURE: NNA) has closed the third Tranche of a non brokered private placement financing.
The third Tranche consists of 800,000 Flow-Through units for proceeds of $80,000 with associated warrants issued can purchase up to 400,000 common shares at 15 cents for 24 months expiring October 28, 2012 and 750,000 non-Flow Through units for proceeds of $75,000 with associated warrants issued can purchase up to 750,000 common shares at a price of 10 cents for the first 12 months and a price of 15 cents for the next 12 months. Shares issued cannot be traded before March 1, 2011.
The Private Placement is now completed for total issue of 6,500,000 Flow Through units and 2,000,000 non-Flow Through units with total proceeds of $850,000 comprising $650,000 Flow Through units and $200,000 Non Flow Through units, as per TSX bulletins dated August 24, September 17 and October 28, 2010.
Proceeds will be used for the 2010 exploration program on the Company’s 100% owned Silver Queen property south of Houston BC and general corporate funds. The private placement has received the approval of the TSX Venture Exchange.
President and Chief Executive Officer
Contact Ellen Clements: 250 444 1005
PROCEEDING WITH NON-BROKERED FLOW-THROUGH and Non-Flow Through PRIVATE PLACEMENT
September 24, 2010 - New Nadina Exploration Limited (the “Company”) announces that it is proceeding with Private Placement first announced on August 12, 2010. Up to $1,000,000 Flow Through dollars will be raised through the issuance of 10,000,000 shares at a price of $0.10 per unit and up to $200,000 non-Flow Through units at a price of $0.10. The Flow-Through units consists of one common share and a one half of one warrant where one warrant can purchase one non flow-through share for up to two years at $0.15. The non Flow-Through unit consists of one common share and one warrant that entitles the holder to purchase one common share at $0.10 in year one and at $0.15 per share in the second year.
The Company will pay a Finders Fee of 8% in units, where the units consist of one common share and one warrant, where the warrants are exercisable at $0.10 in year one and at $0.15 per share in year two. Proceeds from the placement will be used for 2010 exploration program on the Company’s 100% owned Silver Queen Property and for general corporate funds.
The placement is subject to all necessary regulatory approvals.
September 20, 2010: GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (TSX VENTURE: NNA) has closed the second Tranche of a non brokered private placement financing.
The second Tranche consists of 1,700,000 Flow-Through units for proceeds of $170,000 with associated warrants issued can purchase up to 850,000 common shares at 15 cents for 24 months expiring September 20, 2012 and 1,250,000 non-Flow Through units for proceeds of $125,000 with associated warrants issued can purchase up to 1,250,000 common shares at a price of 10 cents for the first 12 months and a price of 15 cents for the next 12 months. Shares issued cannot be traded before January 21, 2011.
There were 36,000 non-Flow Through units issued to two finders.
Contact Ellen Clements: 250 444 1005
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2013 News Releases
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The Board members welcome new director William Meyer. Mr. Meyer is ...
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