Expedition Mining Announces Drill Results on Long Canyon Gold Property
29 5월 2014 - 10:30PM
Marketwired
Expedition Mining Announces Drill Results on Long Canyon Gold
Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 29, 2014) -
Expedition Mining Inc. (TSX-VENTURE:EXU) (the "Company") is pleased
to provide this update on the 2014 exploration programs within the
Walker Lane Mineral Belt.
LONG CANYON PROPERTY
The Company is pleased to report that the initial reverse
circulation drill program has been completed and assay results
received for all holes. Eleven holes were drilled to a maximum
depth of 152.4 m (500 ft). The best results were received from
holes LCR-03 and LCR-06 which tested a 150 m section of a
northwesterly trending structure which can be traced across the
property. The Company is encouraged by the presence of wide zones
of low grade mineralization indicating a large hydrothermal
system.
Hole |
Azimuth |
Dip |
From (m) |
To (m) |
Interval (m) |
Au g/t |
Ag g/t |
LCR-03 |
135 |
-60 |
21.34 |
39.63 |
18.29 |
1.07 |
|
incl |
|
|
24.39 |
27.44 |
3.05 |
3.85 |
3.3 |
LCR-06 |
30 |
-60 |
57.93 |
121.95 |
64.02 |
0.25 |
|
incl |
|
|
57.93 |
64.02 |
6.1 |
1.145 |
2.05 |
incl |
|
|
88.41 |
94.51 |
6.1 |
1.025 |
1.2 |
Drill hole LCR-06 was oriented perpendicular to the main
structure which is believed to be subvertical in orientation. Chip
logging indicates that the structural zone starts at a depth of 57
m, and may be up to 65 m wide. It comprises numerous individual
shears displaying elevated quartz content and limonitic alteration.
Previous surface sampling of this structure had included 1.16 g/t
gold over 5 m.
LCR-03 was targeting the intersection of the structure tested by
LCR-06, with a northerly trending vein system visible at surface.
The highest gold value received from this drill program appears to
be related to the southern edge of the structure where a 3.05 m (10
ft) interval assayed 3.85 g/t gold and 3.3 g/t silver at a depth of
24.5 m. In both holes there is a direct correlation between quartz
content and gold values as would be expected in a vein controlled
environment. No sulphides were observed in any of the holes,
indicating that the depth of oxidation is in excess of 100 m.
Sampling was carried out in 3.05 m (10 ft) intervals throughout
all holes. Chips were collected and logged at 1.78 m (5 ft)
intervals and stored in plastic trays. A duplicate set of samples
has been kept for all holes to allow for additional assaying or
sample evaluation purposes.
Structurally the Long Canyon project area is dominated by
strands of the northwest trending Walker Lane Fault Zone. Arcuate
splays from the main faults trend easterly across the property and
are exposed in many of the drainages. One of these splays hosts the
mineralization encountered in Hole LCR-06. The northerly trending
structures extend through the Pilot Mountains to the north, and are
covered by pediment fans to the south. The intersections of these
structural zones are believed to be important localizing features
for mineralization. Hole LCR-03 was located to test one of these
intersections.
The Long Canyon project is situated in southeastern Mineral
County and is flanked by several well known historical mining
districts. The former producing Belleville Mine 8 kms north of Long
Canyon reportedly produced around 100,000 ozs until 1939 from 2
quartz veins. To the west the Douglas Camp area was dominantly a
gold and silver camp which also contained abundant scheelite and
produced over $1,000,000 of tungsten during and after WW1.
To the southwest the Candelaria District was known for high
grade silver deposits which averaged 60 oz/ton in the early days of
mining, and produced over 68 million ounces of silver by 1999.
Expedition's disclosure of a technical or scientific nature in
this press release has been reviewed and approved by James Chapman
P.Geo, who serves as a qualified person under the definition of
National Instrument 43-101.
Expedition Mining Inc. (TSX-VENTURE:EXU) is a publicly held
Canadian exploration company focused on acquiring, exploring and
developing gold properties located in favourable geo-political
climates. The company is led by a highly skilled, experienced board
and management team with significant successes in managing early
stage mineral exploration companies. For additional information
concerning Expedition Mining Inc. or its various exploration
projects please visit Expedition's website at
www.expeditionmining.com.
CAUTION REGARDING FORWARD LOOKING STATEMENTS:
This news release contains "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities
legislation. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"can", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Expedition Mining to be materially different from those expressed
or implied by such forward-looking statements, including but not
limited to: risks related to the exploration and potential
development of any of its properties, the actual results of current
exploration activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined,
future prices of gold. Although Expedition Mining has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Expedition Mining does not
undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with
applicable securities laws.
ON BEHALF OF THE BOARD:
Ronald Atlas, President & Chairman of the Board
Expedition Mining Inc.
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.
Standard & Poor's Listed
Issued Share Capital: 58,336,789
Expedition Mining Inc.William Galine(604)
662-3903bgaline@expeditionmining.comwww.expeditionmining.com
(TSXV:EXU)
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