CALGARY, Alberta, Sept. 25 /PRNewswire-FirstCall/ -- The following was
released on behalf of the Board of FEC Resources Inc, by Larry W. Youell,
President and CEO:
FEC Resources Inc. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8)
("FEC") reports on results of the ongoing 2007 trenching campaign on the
Lascogon/Danao property (MPSA 148), located on Mindanao Island,
Philippines.
The initial phase of trenching has continued to expose gold
mineralization both in Danao and Lascogon and has confirmed the presence of
another mineralization episode other than the Carlin-like process
responsible for the jasperoid formation.
In Danao (located north of Lascogon), Trench 1 has returned gold assays
ranging from 0.1g/t to 0.8g/t, up to a maximum of 2.4g/t. The results prove
that gold mineralization is consistent down to the trench depth limit of
4m.
Detrital gold in soil collected from Danao shows angular shapes, often
with complexly irregular boundaries. The Au grains range in size from less
~0.2 mm to ~2.5 mm and have preserved their braided wire-like texture often
taken form by native gold when it precipitates. Some grains are even seen
attached to subhedral - anhedral quartz crystals. These observations
together confirm that there are at least 2 mineralization episodes in
Danao, and that the source of the sediments hosting the gold grains is
near.
In Lascogon, new assay results confirm the occurrence of gold
mineralization along the entire 184m strike of Trench 4SE. This trench
passes through part of the jasperoid field in Danao. Gold values range from
0.1 to 1.3g/t, with a maximum of 2.3g/t and substantiates that gold
mineralization is present down to the trench depth limit of 2m.
In Lascogon, gold assay values from deeper levels of Trench 5B confirm
the occurrence of highly mineralized gold horizons down to the trench depth
limit of 8m. Assay values range from 1.0 to 7.0g/t, with occasional
intervals reaching compositions up to 16.4g/t (6m below surface) and
22.4g/t (4m below surface).
Assay values from Trench 5C show long continuous surface mineralization
(from 185 to 256m) down to the trench limit of 2m. Gold mineralization
ranges from 0.1 to 0.8g/t, down to 1m from surface, to 1.0 to 3.0 g/t, with
occasional peaks reaching 6.0 to 9g/t. A portion of this trench was
deepened down to 4m and revealed higher assays of 9.0 to 12.0g/t
substantiating that gold mineralization is persistent within the jasperoid
field.
In making the announcement today, Larry W. Youell, FEC's President and
CEO, said, "The trenching results to date at Lascogon are extremely
encouraging and we expect that with continued similar results from
additional trenching significant value to our company will be added."
The Lascogon Gold Prospect is contained within the 2306Ha acreage of
MPSA148. The property is centrally located in the highly prospective
terrain of Surigao del Norte, Mindanao, Philippines, where several types of
deposits are known to exist. Continued work on this prospect has returned
excellent gold grades and is quickly identifying the pervasiveness of gold
mineralization.
A quality assurance and quality control program (QA/QC) was implemented
by FEC and Philex and the laboratory to insure the precision and
reproducibility of the analytical method and results. The QA/QC program
includes the insertion of duplicates and blanks in the sample batches sent
to the laboratory and a systematic re-assaying from the remaining coarse
reject fraction by the fire-assay method with an atomic absorption finish.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, gold
and iron assets located in the Philippines through its shareholdings in
Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining
Corporation. For further information email info@fecresources.com.
This release contains "forward looking statements" as per Section 21E
of the US Securities and Exchange Act of 1934, as amended. Although the
Company believes that the expectations reflected in such forward looking
statements are reasonable, it can give no assurance that such expectations
will prove to have been correct. Management is currently reviewing many
options and there is no assurance that they will not make decisions other
than those now contemplated. The Company is subject to political risks and
operational risks identified in documents filed with the Securities and
Exchange Commission, including changing and depressed oil prices,
unsuccessful drilling results, change of government and political unrest in
its main area of operations
For more information please contact Larry Youell at (403) 290-1676
e-mail info@FECResources.com or visit the FEC Resources website at
http://www.FECResources.com
SOURCE FEC Resources Inc.
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Related links:
http://www.fecresources.com
CONTACT:
Larry Youell, President and CEO of FEC
Resources Inc., +1-403-290-1676, info@FECResources.com
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