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Abstract
(Marketwire - Jan. 21, 2008) - Canadian Royalties Inc. (TSX:CZZ) reports composite assay results for four (4) drillholes at the company's recent Allammaq discovery that confirm and extend the thick core of mineralization, previously identified on eastern drill fans, a further 50 metres westwards on section 2250E. Hole MX-07-57 intersected 44.15 metres of predominantly net-textured mineralization that ran 1.19% Nickel and 1.06% Copper, including 8.45 metres of higher-grade sulphides that averaged 2.10% Nickel and 1.85% Copper with significant Platinum and Palladium values. The thick intercept returned by this hole bodes well for future southward expansion of the zone, an area that will be drill tested in 2008.
Of particular note is the presence of a traceable basal zone of high-grade Nickel, Copper and Platinum group element (PGE) mineralization, also present in previously reported hole MX-07-55, the initial hole from this fan of drilling (see news release dated November 20th, 2007). An example of this mineralization is highlighted in the results from hole MX-07-58 which intersected 18.35 metres of net-textured and massive sulphide mineralization grading 2.52% Nickel and 2.41% Copper, including a 9.80 metre zone of massive sulphides that ran 3.63% Nickel and 3.21% Copper with enriched Platinum and Palladium values.