Vancouver, B.C., December 16, 2002 --- DRC Resources Corporation (DRC--TSXV) is pleased to report the following current exploration results:
Diamond Drill Hole 69 (2K02-69) intersected mineralization over a drill core length of 148m (485 ft), apparent true width of 80 m (262 ft). Diamond Drill Hole 71 (2K02-71) intersected mineralization over a drill core length of 88m (290 ft), apparent true width 35m(115ft). DDH-69 intersection is approximately 200 m (656 ft) southwest of DDH-66 and DDH-71 intersection is approximately 100 m (330 ft) southwest of DDH-66 intersection which assayed 2.48% Copper Equivalent over a 200m (656 ft) drill core interval.
DDH 2K02-69 @ -56°/119° assayed 2.00% Copper Equivalent over a drill core length of 88 m (290 ft). Higher grade intervals within the overall intersection assayed 2.15% Copper Equivalent over a 52 metre (170 ft) drill core length and 2.04% Copper Equivalent over a 30 metre (98 ft) drill core length. DDH 2K02-71 @ -69°/123° assayed 1.71% Copper Equivalent over a drill core length of 88 m (290 ft).
ASSAY INTERSECTIONS FOR DDH 2K02-69
Core Length
m (ft) |
Depth
m |
Copper
% |
Gold
g/t |
Palladium
g/t |
Silver
g/t |
Copper Equiv.
% |
| 88 (290) |
408-496 |
1.20 |
1.030 |
0.150 |
2.154 |
2.00 |
| Including |
|
|
|
|
|
|
| 52 (170) |
408-460 |
1.38 |
1.048 |
0.108 |
2.211 |
2.15 |
| 30 (98) |
464-494 |
1.11 |
1.173 |
0.226 |
2.362 |
2.04 |
ASSAY INTERSECTION FOR DDH 2K02-71
Core Length
m (ft) |
Depth
m |
Copper
% |
Gold
g/t |
Palladium
g/t |
Silver
g/t |
Copper Equiv.
% |
| 88 (290) |
270-358 |
1.03 |
0.892 |
0.110 |
2.184 |
1.71 |
Metal Prices employed in calculating copper equivalent US$: Cu $0.70/lb, Au $320/oz, Pd $300/oz, Ag $4.50/oz
To date the Copper-Gold Mineralization has been traced over an overall length of 1000 metres (3300 ft). 2002 drilling indicates the mineral zone is still open beyond the indicated mineral resource boundaries to the Northeast and the Southwest. Additional assay results will be announced accordingly. The 2002 drilling results are being evaluated and will provide valuable insights for formulating DRC's 2003 Diamond Drill Program.
The company and its field group implemented a Quality Assurance Program as part of a formal Exploration Practices Policy under the supervision of the company's principal technical consultant, James J. McDougall, P. Eng., a Qualified Person as defined by National Instrument 43-101. All mineralized diamond drill core was logged, photographed, split by diamond saw, and sampled in 2 metre (7ft) intervals. One split section of all mineralized core is retained in secured storage for future reference. Samples for assay were transported by (Eco-Tech employees) to Eco-Tech Laboratory Ltd. of Kamloops, B.C. for analysis for copper, gold, silver and palladium. Eco Tech Laboratory Ltd. of Kamloops are British Columbia Certified Assayers who participated in the National Canmet Proficiency Testing and maintain their own in-house Quality Assurance and Quality Control Program. They have been in the analytical testing business for 27 years, and are familiar with assaying the Afton samples. The Company's independent Qualified Person, James J. McDougall, P.Eng., has reviewed the drill core logs and assays contained in this Press Release.
The Management of DRC Resources Corporation would like to thank its shareholders and interested investors for their continuing support.
For further information on DRC and the Afton Project, please visit our web site at http://www.drcresources.com or call us at 604-687-1629.
On behalf of the Board of Directors
"John H. Kruzick"
John H. Kruzick, President
DATE: December 16, 2002
Shares Issued: 9,133,766 common shares
U.S. Rule 12g3-2(b) Exemption
CUSIP NO. 233296 10 2
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.
CAUTIONARY NOTE: Statements in this press release are a preliminary assessment of potential economics under a certain set of parameters and assumptions. The indicated mineral resource is not a mineral reserve and does not demonstrate economic viability. Further studies will be required to determine economic viability. The company relies on litigation protection for "forward-looking" statements.
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