BELLINGHAM, Wash., Feb. 13, 2004 (PRIMEZONE) -- Golden Spirit Minerals Ltd. (OTCBB:GSPM) reports the following summary of early sampling of stream sediment and jig tails from its Ester Creek property in Fairbanks, Alaska.
Many large mines, including Kinross Gold's Fort Knox mine in Fairbanks, Alaska initially used stream sediment samples from creeks in mineralized areas to prospect for the existence of possible precious metal deposits. The minerals weep, especially precious metal indicator minerals, into the stream water and can be detected by assaying.
The following assays are from Ester Creek (Z), a two week filter collection and (14-N) the sludge from a build up in front of a surface collector.
Claim No. KBA No.1 Quantitative-Laser Ablation ICP Mass Specimen Sample No. Ru ppm Rh ppm Pdppm Agppm Osppm Irppm Ptppm Auppm -------------------------------------------------------------------- 14-N +0.1 +0.1 0.2 0.8 +0.1 +0.1 +0.1 +0.1 Z +0.1 0.2 0.4 2.0 +0.1 +0.1 0.2 10.5
In addition, a total of 1,000 cubic yards of gold and silver bearing gravel from the Ester Creek Property was processed through a jig producing a high-grade sample. Tails were systematically sampled and analyzed by Atomic Absorption and ICP Method for 50 elements at ALS Chemex in Elko, Nevada. The following are the results of the more relevant elements indicated.
Co Cu Pd Ag Fe As Pt Au Zn Mn Ni P Sb
Sample
No. ppm ppm ppm ppm % ppm ppm ppm ppm ppm ppm ppm ppm
---------------------------------------------------------------------
03-12
-
Est
-M 25.2 42.6 12.7 21.3 4.46 767 0.1 55.3 86 2340 56.1 320 50.7
Jig processing of the sample before laboratory analysis would have effectively removed most of the heavier minerals such as gold, silver, tin, tungsten, and the base metals copper, lead, and zinc.
A gold (Au) content of 55 parts per million (ppm) is equivalent to 55 grams gold per metric tonne of material submitted for analysis. It also equates to 1.6 troy ounces per short ton, which at $400 per ounce of gold amounts to $640/ton. The ALS Chemex analysis indicates that a ton of the material submitted for analysis will return about $640, if all the gold could be extracted.
President, Robert Klein states, "We are very excited about these encouraging early results, therefore more sampling and trenching are going to be done, with a plan towards more exploratory work for a hard rock deposit." An independent report currently being prepared on the Ester Creek properties will include a recommended work program.
Golden Spirit Minerals Ltd. is focused on building a portfolio of promising gold properties to maximize shareholder value based on the ever-increasing value of Gold.
(s) Robert Klein
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Robert Klein, President
For further information contact Joseph Beyrouti at: 1-888-488-6882 Visit our web site at www.goldenspirit.ws
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Golden Spirit Minerals filings with the Securities