Drilling Underway at Corey, BABS Project - 1st Stage Completed
Vancouver, BC – KENRICH-ESKAY MINING CORPORATION (the “Company”) is pleased to announce that as of Sunday, July 6, 2008, three drill holes totaling 586 metres have been completed at Corey. All drilling so far has been at the Red Lightning zone east of the Mandy Valley. A fourth hole is currently being drilled with an additional two drill holes to follow. Upon completion of the Red Lightning drilling, the drill will move to the Spearhead Zone.
The Babine Lake (Babs) Project
On the Babs Property, near Smithers BC, a program consisting of MMI soil geochemical survey and diamond drilling, which was announced in our May 27, 2008 news release, has been completed.
The objective of the program was to target a Granisle/Bell type copper-molybdenum porphyry deposit indicated on the Property by a float train of biotite feldspar porphyry mineralized boulders similar to the Babine intrusives which host mineralization at the Bell, Morrison, and Granisle mineral deposits located within seven kilometres of the Babs Project.
The MMI soil geochemistry survey, which was centred on the boulder train was completed over a 57.5 km grid and consisted of 1027 samples. The samples have been submitted for analysis with results expected in late July.
Seven diamond drill holes for 1048 metres were completed. Chalcopyrite mineralization, similar to mineralization found in the drill logs of previous programs, occurs in six of the seven holes drilled. Previous drill results reportedly intersected up to 77.8 metres of copper mineralization which assayed 0.19% copper. Core samples have been submitted for analysis with results expected by the end of July.
The Babine Lake geological portion of this release has been approved by Laurence Sookochoff, P.Geo. the Company’s Qualified Person.
Kenrich-Eskay has agreed to grant new stock incentive options to certain directors, executive officers and consultants of the company under the company's rolling stock option plan granting to such optionees the right to purchase up to a total of 2,220,650 common shares at a price of $0.25 cents per share for a two-year period until July 8, 2010.
On behalf of The Board of Directors of Kenrich-Eskay Mining Corporation.
“Wally E. Boguski”, President, CEO, Director
