High-Grade Gold Drill Results from Red Lake
12 9월 2011 - 9:00PM
Marketwired
Confederation Minerals Ltd. ("Confederation") (TSX VENTURE: CFM) is
pleased to report additional drill results from the on-going
drilling program at the Newman Todd property in the Red Lake Gold
District, Ontario. These results are from five holes, completed in
wide spaced drilling along the Newman Todd Structure ("NTS"),
another 11 holes have been completed and assays are pending. The
highlight hole from the latest results returned 7.06 oz/ton (242.0
g/t) gold over 0.50 metre.
Lawrence Dick, President and CEO of Confederation states: "We
are excited to have encountered the highest gold grades yet from
our drilling at Newman Todd. 2011 has been our most aggressive and
successful year of exploration and discovery at Newman Todd, and
these efforts have returned our most consistent and highest gold
grades. The tenor of the gold mineralization, it's extremely
wide-spread nature, and the fact that the mineralization is open to
depth, have resulted in our decision to continue drilling beyond
our planned program for this year. We will continue drilling, with
at least two drill rigs, throughout the fall of 2011 and the winter
of 2011 and 2012. Data from this expanded program will lead to a
much better understanding of the lateral and vertical morphology
and continuity of the mineralized structures. We are also pleased
to discover that much wider zones of lower grade mineralization are
being encountered (see below). Management is of the opinion that
this is an indication that gold is not isolated to individual
structures, and further indicates that lower-grade zones may be
haloes on much higher-grade, structurally-controlled bodies yet to
be defined by drill hole intersections."
All holes completed to date in 2011 have intersected the Newman
Todd Structure, and several have returned multiple high-grade gold
intersections. Drilling in 2011 has intersected gold mineralization
over 1.2 km of the strike of the NTS. A plan map and long section
can be found on the company's (www.confederationmineralsltd.com)
web site. All assays from all holes completed to date at Newman
Todd are also on the company's web site.
Highlights from the recently completed five holes:
Section 1375:
-- NT-070 intersected 69.70 g/t gold over 0.50m and
-- 10.40 g/t gold over 0.50m. in two zones
Section 1700:
-- NT-071 intersected 10.70 g/t gold over 1.0m and
-- 24.50 g/t gold over 0.5m
-- NT-072 intersected 24.10 g/t gold over 1.0m and
-- 11.00 g/t gold over 0.5m and
-- 31.10 g/t gold over 1.0m and
-- 13.70 g/t gold over 1.0m in four zones
Section 2250
-- NT-073 intersected 242.0 g/t gold over 0.5m and
-- 10.20 g/t gold over 1.0m in two zones
Table of Significant Results:
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Hole From (m) To (m) Gold (g/t) Width (m) Section
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NT-069 305.00 306.00 2.68 1.00 1350
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NT-069 and 318.00 319.00 2.05 1.00 1350
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NT-070 393.50 394.00 10.40 0.50 1375
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NT-070 and 412.00 413.00 4.29 1.00 1375
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NT-070 and 438.50 439.00 69.70 0.50 1375
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NT-070 and 450.00 451.00 4.95 1.00 1375
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NT-070 and 470.00 471.00 5.04 1.00 1375
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NT-071 28.00 29.00 4.94 1.00 1700
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NT-071 and 62.00 72.50 1.25 10.50 1700
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NT-071 including 70.00 70.50 7.16 0.50 1700
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NT-071 and 138.00 139.00 10.70 1.00 1700
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NT-071 and 151.00 151.50 8.88 0.50 1700
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NT-071 and 177.00 178.00 12.86 1.00 1700
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NT-071 including 177.50 178.00 24.50 0.50 1700
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NT-072 8.00 9.00 24.10 1.00 1700
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NT-072 and 137.00 138.50 8.19 1.50 1700
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NT-072 and 144.00 147.00 2.60 3.00 1700
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NT-072 including 145.50 146.00 11.00 0.50 1700
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NT-072 and 163.00 191.00 1.13 28.00 1700
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NT-072 including 182.00 183.50 5.20 1.50 1700
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NT-072 and 208.00 209.00 4.78 1.00 1700
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NT-072 230.00 239.00 1.42 9.00 1700
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NT-072 and 241.00 242.00 31.10 1.00 1700
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NT-072 and 251.00 258.00 2.42 7.00 1700
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NT-072 including 253.00 254.00 13.70 1.00 1700
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NT-072 and 270.00 271.00 4.06 1.00 1700
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NT-072 and 294.00 296.00 4.24 2.00 1700
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NT-072 and 295.00 296.00 7.36 1.00 1700
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NT-073 132.00 133.00 3.91 1.00 2250
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NT-073 and 161.50 162.00 242.00 0.50 2250
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NT-073 and 166.00 170.00 2.89 4.00 2250
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NT-073 including 166.00 167.00 5.61 1.00 2250
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NT-073 and 242.00 244.00 4.51 2.00 2250
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NT-073 and 255.00 256.00 10.20 1.00 2250
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(i) Width is calculated as core length and does not imply true width of the
zone. Weighted average gold intervals apply a 0.25 g/t lower cut-off.
Internal dilution within reported intervals does not exceed core lengths of
two metres unless otherwise indicated.
(ii) Cross sections are spaced 25 metres apart across the entire NTS,
Section 1375 marks the centre of the Heath Bull Zone.
Discussion of Results
The Newman Todd Structure is a large scale hydrothermal
alteration and structural zone which is host to widespread gold
mineralization. The gold is believed to occur in discreet shoots or
lenses of silica/sulphide and magnetite replacement within the
structure. Widespread anomalous gold mineralization has been
encountered, a good example is hole NT-072, when averaged through
the entire mineralized zone, carries 159.0 metres of 1.01 g/t gold
(no cut-off applied). The latest results returned the deepest
high-grade gold intercept in Hole NT-070; this indicates that the
zone is still strong at depths down to 400 metres vertically below
the surface. No drilling has been done to depths exceeding 400
metres along the structure. Upcoming drilling will continue to
focus on expanding gold mineralization along strike, and on
following the system at depth.
Core samples from the program were cut in half, using a diamond
cutting saw, and were sent to Activation Laboratories Ltd. in Red
Lake Ontario, an accredited mineral analysis laboratory, for
analysis. All samples were analyzed for gold using standard Fire
Assay-AA techniques. Samples returning over 3.0 g/t gold were
analyzed utilizing standard Fire Assay-Gravimetric methods.
Certified gold reference standards, blanks and field duplicates
were routinely inserted into the sample stream, as part of
Confederation's quality control/quality assurance program.
Bob Singh, P.Geo., is the qualified person as defined by
National Instrument 43-101 and has reviewed this news release. Mr.
Singh has been engaged through a third party service provider by
Confederation Minerals Ltd. to manage the project, and is also the
Canadian Exploration Manager for Redstar Gold Corp.
About Confederation Minerals Ltd.
Confederation Minerals Ltd. is a British Columbia based company
engaged in the business of acquisition, exploration and development
of mineral properties. Its objective is to locate and develop
economic precious and base metals properties of merit.
Confederation Minerals Ltd. holds an option agreement to acquire up
to 70% of the Newman Todd project in the Red Lake Mining District
of Northern Ontario as well as 100% ownership in two other
properties in the Red Lake Mining District of Ontario.
On Behalf of the Board, Confederation Minerals Ltd.
Lawrence A. Dick, Ph.D., P.Geo, President, CEO, and Director
Forward-Looking Information
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address events or
developments that Confederation Minerals Ltd. (the "Company")
expects to occur are forward-looking statements. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects",
"plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or
conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward-looking
statements. Factors that could cause the actual results to differ
materially from those in forward-looking statements include market
prices, exploitation and exploration successes, and continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made. Except as required
by applicable securities laws, the Company undertakes no obligation
to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors,
should change.
Contacts: CORPORATE INQUIRIES - Confederation Minerals Ltd.
Lawrence Dick President 604.688.9588
lawrence.dick@barongroupintl.com
www.confederationmineralsltd.com
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