September 21, 2006
TRIBUTE ANNOUNCES EXPLORATION UPDATE ON GARNET LAKE PROPERTY
Tribute Minerals Inc. (the ‘Company’ or ‘Tribute’) is pleased to provide an update on its summer 2006 drill program on the Garnet Lake Property, Confederation Lake Belt, Northwestern Ontario.
The company has completed three diamond drill holes collared from the north side of Garnet Lake. Holes GL-2006-32 and 33 were drilled to test geophysical conductors to the west and up-dip of the Arrow Zone while GL-2006-34 tested the down-plunge westerly extension of the zone.
The most exciting results are from the most recently completed GL-2006-34. The drill hole flattened more than expected and pierced the Arrow Zone up-dip from the trend of its estimated plunge. Drilling intersected highly altered volcanic rocks from 484.5 to 528.3 metres down-hole consistent with the proximal association of polymetallic volcanogenic-hosted massive sulphide mineralized bodies. This was followed by the intersection of a finely crystalline cherty rhyolite from 528.3 – 556.7 metres followed by the intersection of three iron, zinc and copper sulphide rich mineralized zones each believed to be between three to five metres in true width from 556.7- 589.1 metres down-hole (at approximately 480 metres vertical depth). These three zones are separated by either cherty rhyolite or highly altered quartz-feldspar porphyritic volcanic rocks. Outside the mineralized zones, minor but persistent occurrences of zinc and copper sulphides are noted in the drill-core over a down-hole length of 102 metres. The cherty rhyolite is interpreted to be a siliceous exhalative horizon and provides encouraging evidence that the Arrow Zone is potentially thickening down plunge. Drill holes GL-2006-32 and 33 intersected narrow mineralized zones consisting mainly of iron sulphides with some zinc and copper. Assays are pending for all three holes.
Based on the these results it was decided to pause drilling so that borehole geophysical surveys could be completed on GL-2006-34 and other holes in the vicinity with the purpose of better modeling the westerly plunge of the Arrow Zone. These surveys are now ongoing, and drilling is expected to resume before the end of September from the same location.
Assays results have returned from the sampling of core from two more holes drilled on the eastern end of the Arrow Zone. Hole GL-2006-30 intersected a series of massive iron sulphide zones containing sub-economic amounts of zinc (6.6 metres of 0.65%Zn, 1.8 metres of 1.00% Zn and 2.0 metres of 0.52% Zn) and anomalous Cu, Au and Ag. Assays for GL-2006-31 drilled on the east side remain pending. One over limit >30% Zn analysis from previously announced hole GL-2006-27 (3.2 metres true width of 9.1% Zn, 0.66% Cu, 0.70 g/t Au, 23.8 g/t Ag and 33.2 g/t indium) is also pending.
Core samples were split in half using a diamond saw and sealed in secure packages, shipped by bonded carrier from Red Lake to ALS Chemex in Thunder Bay for preparation, and to ALS Chemex in North Vancouver for AU-AA62 assay (gold by fire assay with AA finish) and ME-MS61 47 element analysis (4 acid dissolution and ICP-MS). High analyses (>10,000 ppm, 1%) for copper, zinc and (>100 ppm) silver were submitted for ore grade AA62 analysis (4 acid dissolution with AA finish). A duplicate unknown to the laboratory is submitted for analyses per batch of ten samples. ALS Chemex fulfilled standard QA/QC protocols. The Confederation Lake exploration program is under the direction of Trevor Boyd, P.Geo, Geological Consultant, Tribute, and a qualified person (QP) for the purposes of NI 43-101.
On behalf of the Board of Directors,
Ian A. Brodie-Brown, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Tribute Minerals Inc.
Ian Brodie-Brown
President and C.E.O.
(416) 368-2929
(416) 601-1450 (FAX)
info@tributeminerals.com
www.tributeminerals.com
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