GTA Reports Gold Results from Initial Holes of Its Phase 3 Drill Program at the Northshore Property
21 11월 2012 - 9:00PM
Marketwired Canada
GTA Resources and Mining Inc. (TSX VENTURE:GTA) is pleased to report results
from the first seven holes (WB-12-21 to WB-12-27) of the Phase 3 drill program
recently completed on the Northshore Property in northern Ontario. These latest
results further confirm the potential of the Northshore property to host both a
large scale gold porphyry system and discrete high grade gold zones. Highlights
include:
-- hole WB-12-25 returned an averaged grade of 0.28 grams gold per tonne
(g/t) over a core length of 344.0 metres, including 8.65 Au g/t gold
over 2.0 metres.
-- Hole WB-12-26 returned an averaged grade of 22.72 g/t Au over a core
length of 1.1 metres and 2.83 g/t Au gold over 8.0 metres.
-- Hole WB-12-27 returned an averaged grade of 0.72 g/t Au over a core
length of 124 meters including 1.41 g/t Au over 40.5 metres and 31.6 g/t
Au over 0.5 metres.
All holes intersected wide sections of gold mineralization associated with
pyritic, tourmaline, and sericitic altered felsic porphyritic rocks (the Afric
Intrusive Complex). These rocks are structurally deformed resulting in a variety
of fracturing and brecciation which host quartz and quartz carbonate veins and
stringers. The quartz rich veins and fracture infillings are mineralized with
pyrite, and lesser amounts of sphalerite, galena and telluride. Visible gold has
been recognized in most of the holes and the high grade sections are often
associated with these occurrences.
The Phase 3 drilling program consisted of 15 drill holes (WB-12-21 to WB-12-35)
totaling 4,766 metres. Drill holes WB-12-21 to WB-12-25 were drilled to test the
northeast extension of the Audney Vein and the broader Afric Zone and holes
WB-12-26 and WB-12-27 were drilled to test the southwest extensions. The highest
assays of these first 7 holes included 47.2 g/t Au and 31.6 g/t Au (each over a
core length of 0.5 metres) from holes WB-12-26 and WB-12-27 respectively. Both
these high grade values were returned from a quartz vein mineralized with
several specks of visible gold, and interpreted to be the faulted southwest
extension of the high grade Audney Vein.
Updated plan maps showing collar locations and drill hole traces can be viewed
on GTA's website at www.gtaresources.com. Results from the remaining 8 holes are
pending and will be released once they become available.
A detailed summary of the results from the initial 7 holes is shown in the
following table:
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Hole Number Hole Depth From To Interval Gold
(metres) (metres) (metres) (metres) (g/t)
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WB-12-21 (-50 degrees) 200 11.0 199.0 188.0 0.11
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including 80.0 99.0 19.0 0.22
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including 15.0 16.0 1.0 0.63
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and 80.0 82.0 2.0 0.84
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WB-12-22 (-70 degrees) 101 4.0 78.0 74.0 0.20
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including 6.0 12.0 6.0 0.72
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WB-12-23 (-50 degrees) 164 43.0 48.0 5.0 0.21
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----------------------------------------------------------------------------
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WB-12-24 (-50 degrees) 230 9.0 10.0 1.0 7.88
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and 77.0 147.0 70.0 0.20
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WB-12-25 (-50 degrees) 347 3.0 347.0 344.0 0.28
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including 4.0 10.0 6.0 1.89
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and 150.0 152.0 2.0 8.65
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and 272.0 280.0 8.0 1.37
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and 309.0 310.0 1.0 1.92
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and 336.0 341.0 5.0 1.79
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WB-12-26 (-50 degrees) 410 124.8 394.0 269.2 0.34
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including 124.8 162.9 38.0 0.92
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including 130.8 162.9 32.1 1.03
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including 149.8 150.9 1.1 22.72
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and 150.4 150.9 0.5 47.20
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and 329.0 351.0 22.0 1.25
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including 333.0 341.0 8.0 2.83
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WB-12-27 (-50 degrees) 302 125.0 249.0 124.0 0.72
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including 129.0 169.5 40.5 1.41
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and 160.0 169.5 9.5 1.96
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including 160.5 161.0 0.5 31.60
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(i) Width as shown represents core lengths as insufficient drilling has been
completed to determine true thicknesses.
"Management is very encouraged with these latest results as they further confirm
the presence of wide spread gold mineralization within the Afric Intrusive
Complex," commented current president Peter M. Clausi. "We anticipate having all
the phase 3 drilling results over the next month and follow-up drilling is
scheduled to start again in the New Year. With the addition of Mr. Wayne Reid as
President and CEO effective Dec 1, GTA's technical team of Wayne Reid and Robert
(Bob) Duess positions GTA to move the Northshore Project forward towards a joint
venture with Balmoral Resources Ltd."
QA/QC
The planning, execution and monitoring of GTA's exploration programs on the
Northshore Project are under the supervision of Robert (Bob) Duess, P. Geo.
(Ontario), VP Exploration of GTA. Mr. Duess is a qualified person as defined by
National Instrument 43-101 and is also the Qualified Person for this release.
Mr. Duess has supervised the work programs on the Northshore Property,
supervised the collection of the samples and drill core described herein and
reviewed the assays and QA/QC data. Mr. Duess has also reviewed and approved
this release.
GTA has implemented a quality control program for the drill programs on the
Northshore Property to ensure best practice in sampling and analysis. GTA
maintains strict quality assurance/quality control protocols including the
systematic insertion of certified standard reference and blank materials into
each sample batch. Analyses in this release were performed by AGAT Laboratories
Ltd. of Sudbury, Ontario with ISO 17025 accreditation. Samples are transported
in security sealed bags to AGAT and all samples were assayed using
industry-standard assay techniques for gold. Gold was analyzed by a standard 30
gram fire assay with an ICP and/or gravimetric finish.
Other News:
GTA advises that Belmont Capital Corporation has withdrawn its requisition for a
shareholder meeting.
About GTA
GTA is a publicly traded mineral exploration company. It is led by an
experienced and successful management team and is focused on gold exploration in
Canada. GTA currently has two active gold projects. Its flagship project, the
Northshore Project, located near Schreiber, Ontario, is subject to an option
agreement with Balmoral Resources Ltd. ("BAR") whereby GTA can earn up to a 70%
interest. The second project, the 100% owned Auden Property, is located near
Hearst, Ontario and consists of 1596 claim units covering virtually an entire
greenstone belt.
GTA has 25,431,855 shares outstanding of which insiders control approximately
30% of the outstanding shares. The Company's shares trade on the TSX Venture
Exchange under the symbol "GTA".
On behalf of the board of directors
GTA Resources and Mining Inc.
Peter M. Clausi, President and CEO
For more information, please visit the corporate website at www.gtaresources.com.
This press release contains forward-looking statements and forward-looking
information (collectively, "forward looking statements") within the meaning of
applicable Canadian and United States securities laws. All statements, other
than statements of historical fact, included herein, including statements
regarding the anticipated content, commencement, duration and cost of
exploration programs, anticipated exploration program results, the discovery and
delineation of mineral deposits/resources/reserves, the timing of the receipt of
assay results, and business and financing plans and trends, are forward- looking
statements. Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and similar
expressions or are those which, by their nature, refer to future events.
Although the Company believes that such statements are reasonable, there can be
no assurance that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. The Company cautions investors that any forward-looking statements
by the Company are not guarantees of future performance, and that actual results
may differ materially from those in forward-looking statements. Important
factors that could cause actual events and results to differ materially from the
Company's expectations include those related to weather, equipment and staff
availability; performance of third parties; risks related to the exploration
stage of the Company's projects; market fluctuations in prices for securities of
exploration stage companies and in commodity prices; and uncertainties about the
availability of additional financing; risks related to the Company's ability to
identify one or more economic deposits on the properties, and variations in the
nature, quality and quantity of any mineral deposits that may be located on the
properties; risks related to the Company's ability to obtain any necessary
permits, consents or authorizations required for its activities on the
properties; and risks related to the Company's ability to produce minerals from
the properties successfully or profitably. Trading in the securities of the
Company should be considered highly speculative. All of the Company's public
disclosure filings may be accessed via www.sedar.com and readers are urged to
review these materials, including the latest technical reports filed with
respect to the Company's mineral properties.
This press release is not, and is not to be construed in any way as, an offer to
buy or sell securities in the United States.
FOR FURTHER INFORMATION PLEASE CONTACT:
GTA Resources and Mining Inc.
Peter M. Clausi
President and CEO
289-288-3255
www.gtaresources.com
Balmoral Resources Ltd (TSXV:BAR)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Balmoral Resources Ltd (TSXV:BAR)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024
