Entourage Metals Acquires Black Raven Property
24 3월 2011 - 11:38PM
Marketwired
Entourage Metals Ltd. ("Entourage Metals" or the "Company") (TSX
VENTURE: EMT) is pleased to announce that it has entered into a
letter agreement to acquire a 100% interest to the Black Raven
Property, located in Northwestern Ontario.
Located within the Hemlo Greenstone Belt, the 68 km2 Black Raven
Property hosts multiple high-grade gold occurrences. The Super G
prospect is a gold-bearing quartz vein within a shear zone in mafic
volcanics. To date eight grab and channel samples averaged 275.0
g/t Au (the samples ranged from 6.47 g/t to 846.4 g/t) were
collected at Super G. Of these, six samples were over 15.0 g/t Au
and included samples that had values of 846.4, 570.0, 391.4, 229.7,
110.2, and 40.0 g/t Au. That part of the vein which can be seen in
outcrop averages 0.3 meters wide with a length of 12.75 meters on
surface. The extent of the shear and vein is unknown but may extend
under cover. Other quartz veins occur within 100 meters of the
Super G vein and returned 9.2 g/t Au from grab sampling.
In addition, over 20 gold bearing syenite boulders with gold
content ranging from 1.01 g/t to 95.3 g/t Au, averaging 12.74 g/t
Au, occur over the property. These boulders are from a different
host rock than the Super G Vein but the northern part of the
property contains an internal monzonite/syenite stock that is the
possible source of all the gold bearing boulders.
The Property is within a typical greenstone belt that is
underlain predominately by Archean mafic, felsic and ultramafic
rocks.
Limited drilling has been conducted on the Property and focused
on known outcrop occurrences, such as the Super G Vein. These drill
holes were drilled to very shallow depths (less than 25 m vertical
depth). The lack of significant exploration at Black Raven is an
example of the limited exploration that has occurred in the Hemlo
Greenstone Belt over the past two decades.
The Black Raven Property is accessible from a logging road which
connects to the Trans-Canada Highway. This logging road flanks the
property on the southwest side. Otherwise, access to the property
is by boat or aircraft. The Property is located near the
northwestern margin of the eastern portion of the Schreiber-Hemlo
greenstone belt in Northern Ontario, 220 km east-northeast of the
City of Thunder Bay, and 14 km northeast of the town of Marathon.
Maps and photos of the Black Raven Property can be reviewed at
www.entouragemetals.com.
Entourage Metals can earn a 100% interest in the property from
an arms-length, third party group by paying $160,000 in cash
($30,000 in the first year) and issuing 600,000 shares (100,000
shares in the first year) over four years. Upon completion of an
initial National Instrument 43-101 compliant mineral resource,
Entourage will issue an additional 500,000 shares. Upon
commencement of commercial production, the Company will be subject
to a net smelter return royalty (NSR) of 2.5% with the option to
purchase 1.5% NSR in increments of 0.5% NSR for $500,000.
The information contained herein is based on a review of digital
and hard copy data obtained from the MNDMF government assessment
files from the Ontario Ministry of Northern Development, Mines and
Forestry (MNDMF) Assessment File Directory (AFRI). Reports AFRI No.
42D16NE2011 and 42D16NE2009 are the source of the assay values
contained in this press release. Entourage Metals LTD has assumed
that the reports are substantially accurate and complete.
Mr. Florek has been unable to physically verify the sampling and
analytical results contained in this press release. The data
disclosed will be tested by Entourage's Phase I program which will
comprehensively assess this interesting gold occurrence. The
objective of Entourage's proposed exploration is to fully define
the surface extent and tenor of the high grade gold mineralization
with mapping, rock/soil sampling, and geophysical surveys and then
to test depth potential with drilling.
The 2011 exploration program for the Black Raven Project is
currently being managed by John Labrecque, P.Geo. under the
supervision of John C. Florek, P.Geo, Vice-President Exploration
for Entourage Metals; both are Qualified Persons as defined by NI
43-101. Mr. Florek prepared and approved the information of a
technical or scientific nature contained in this release.
Entourage Metals is a well structured junior exploration company
with active mineral exploration projects in the Hemlo Greenstone
Belt. The Company has recently commenced geophysical surveys on its
Hemlo Area Properties. Details on Entourage Metals portfolio can be
reviewed on the Company's website at www.entouragemetals.com.
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this news release, including, without limitation,
statements relating to the potential mineralization and geological
merits of exploration properties, proposed exploration programs of
the Company and other future plans, objectives or expectations of
the Company, are forward-looking statements that involve various
risks and uncertainties. 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. Important factors that could cause actual results to
differ materially from the Company's plans or expectations include
risks relating to the actual results of current exploration
activities, fluctuating metal and mineral prices, possibility of
equipment breakdowns and delays, availability of capital and
financing, general economic, market or business conditions,
regulatory changes, timeliness of government or regulatory
approvals and other risks detailed herein and from time to time in
the filings made by the Company with securities regulators. The
Company expressly disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as otherwise
required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Entourage Metals Ltd. Jeff Sundar President
604-484-7855 js@entourageminerals.com www.entouragemetals.com
Entourage Metals Ltd. (TSXV:EMT)
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