Northern Dynasty Minerals Ltd.: Major New Porphyry System Discovered at Pebble; 2619 Foot Intersection Grades 1.45% Copper Equivalent.
VANCOUVER, British Columbia -- Ronald W. Thiessen, President and CEO of Northern Dynasty Minerals Ltd. (TSX VENTURE:NDM)(AMEX:NAK) announces that core Hole 5327 has discovered a significant new porphyry copper-gold system at the Pebble Project in Alaska, with an intersection of 2619 feet grading 1.45% copper equivalent ("CuEQ") (Note 1) and specifically 0.87% Cu, 0.70 g Au/t, 0.028% Mo. Included in this intersection are intervals of 605 feet grading 1.60% CuEQ (0.90% Cu, 1.06 g Au/t, 0.013% Mo) and 290 feet grading 2.00% CuEQ (1.08% Cu, 1.30 g Au/t, 0.029% Mo). Hole 5327 was drilled towards the east at a dip of 65 degrees and entered the new mineralized system at a vertical depth of 1500 feet below surface. The mid-point of this intercept is located 2000 feet east of the Pebble deposit (3.1 billion tonnes of measured and indicated resources, plus 1.1 billion tonnes of inferred resources). This discovery has the potential to significantly enhance the size and overall grade of the Pebble deposit.
Recent drilling on the east flank of the Pebble deposit has encountered the western edge of a large granodiorite stock (the "East Stock"). Most of the holes on the east are completely in the granodiorite stock below a cover of post-mineral Tertiary volcanic and sedimentary rocks. This intrusive centre is the heat and metal source for a major new porphyry mineralized system which appears to have excellent copper, gold and molybdenum grades. The hydrothermal system extends to a much greater depth than has been drilled to the west and is continuous in most drill holes over their entire lengths below the Tertiary cover. The geology of these eastern holes is typical of the centre of a major porphyry system, with strong potassic alteration, abundant quartz and quartz-sulphide veins of several ages, a high chalcopyrite to pyrite ratio (1:1) and abundant disseminated and vein gold, copper and molybdenum mineralization. Composite assay results for all completed exploration holes drilled so far in 2005 on the east side of the Pebble deposit are listed in Table 1. A location map of the new drill holes and an east-west cross section through the entire Pebble deposit are attached to this release. To view the maps please click on the following link: http://www.ccnmatthews.com/docs/NDMmaps.pdf
TABLE 1 TABLE OF
