TSXV: GGE
VANCOUVER, April 29, 2013 /CNW/ - Great Northern Gold
Exploration Corporation, ("Great Northern Gold" or the "Company")
announced that it has received the assay results for the last 9
holes of the previously announced 2133 meter drilling program on
its 8880 hectare Wekusko Gold Property in Northern Manitoba, testing gold targets on the
one kilometer by three kilometer (1km x 3km) McCafferty Grid (see
press release dated January 24,
2013). The McCafferty gold-bearing quartz vein is exposed on
the grid in a series of trenches and two shafts over a strike
length of 350 meters.
Five of the last 9 holes were geological
reconnaissance exploration holes drilled 2.2 to 3.3 km NE of the
McCafferty gold zone. The final 4 holes tested the McCafferty gold
zone at the 50m and 90m levels on two sections. Results from
previously released drill hole intersections from this program can
be reviewed on our website, referencing our March 13, 2013 news release.
The final 4 drill holes, GN-13-17 to GN-13-20
intersected the near vertically dipping McCafferty gold zone,
extending the zone to at least the 90.5 m level. Results of
the 4 holes are set out in the following table:
Drill hole # |
Intersection |
Vertical depth of zone |
Core length |
Grade Returned |
GN-13-17 |
65.7 - 67.2 m |
49 m Level |
1.5 meters |
14.6 grams Au |
GN-13-18 |
100.05 - 101.3 m |
92 m Level |
1.25 meters |
1.52 grams Au* |
GN-13-19 |
74.45 - 75.6 m |
56 m Level |
1.15 meters |
9.19 grams Au |
GN-13-20 |
101.5 -102.7 m |
90.5 m Level |
1.2 meters |
5.98 grams Au |
*In hole GN-13-18 the core was badly broken and
ground up during drilling, providing poor sample recovery of the
mineralized vein. Core lengths have been estimated to be
approximately 80% true width.
Previously shallow drilling was concentrated at
and above the 35m level of the McCafferty gold zone. The
following table sets out results from the 2005-2006 drilling
programs conducted by Black Pearl Mineral Consolidated Inc on the
McCafferty gold zone:
Drill hole # |
Intersection |
Vertical depth of zone |
Core length |
Grade Returned |
BP-05 - 58 |
40.3 - 40.85 m |
36 m Level |
.55 meters |
18.9 grams Au |
BP-05 - 55 |
21.03 - 22.1 m |
15 m Level |
1.07 meters |
17.0 grams Au |
BP-05 - 56 |
33.55 - 35.4 m |
30 m Level |
1.85 meters |
50.18 grams Au |
BP- 06-10 |
61.25 - 62.9 m |
50 m Level |
1.65 meters |
11.4 grams Au |
BP-05 - 41 |
31.6 - 32.4 |
22 m Level |
0.80 meters |
57.95 grams Au |
BP-05 - 42 |
39.9 - 41.7 m |
35 m Level |
1.80 meters |
18.63 grams Au |
BP-05 - 27 |
19.9 - 20.9 m |
14 m Level |
1.00 meters |
18.27 grams Au |
BP-05 - 50 |
27.0 - 28.1 m |
30 m Level |
1.10 meters |
14.2 grams Au |
The Company has not yet done sufficient work to
verify these historic drill results and does not intend to use the
information for purposes other than planning and prioritizing
future exploration targets.
The 5 geological reconnaissance holes did not
intersect significant gold values, although extensive hydrothermal
actinolite/biotite/chlorite/carbonate and/or sausseritte/sericite
plus silicification alteration, accompanied by arsenopyrite and
tourmaline was intersected in holes GN-13-12 and GN-13-16.
This alteration is analogous to the alteration associated with the
gold mineralization at the past producing Snow Lake Mine (formerly
the Nor Acme and New Britannia Gold Mines) located approximately 26
km to the northwest.
"The drilling results not only confirm the
continuity of the high grade McCafferty gold zone to greater depth
but also signify the potential for large tonnage, lower grade Snow
Lake Mine type gold deposits within our Wekusko land package,"
stated Kim Oishi,Chief Executive Officer of Great Northern Gold,
"In addition to the McCafferty gold zone high grade gold vein type
mineralization has been identified at the Ferro and Gold Dust zones
on our property. We are encouraged by the identification of
analogous alteration to the Snow Lake Mine, now owned by QMX Gold
Corporation, which produced 1.4 million ounces of gold from
12,124,449 tons milled and is presently being assessed with the
intention of resuming production".
In addition, the presence of multi-episodic
faulting was noted in hole GN-13-16, in an area where several air
photo lineaments converge. A number of these faults most likely
provided pathways for significant hydrothermal fluid flow resulting
in the alteration.
"We are planning a summer exploration program
that will further define the complex faulting and favorable
alteration distribution, in the vicinity of quartz feldspar
porphyry contacts like the area around GN-13-16," said Dan Ziehlke, VP Exploration of Great Northern
Gold, "We also plan to conduct MMI geochemistry soil sampling,
geological mapping and prospecting around the edges of Jake Lake,
Morgan Lake, and other areas where
felsic intrusions are associated with gold mineralization.
Also, field work will be conducted in the Roberts Lake area over
lineaments associated with and sub parallel to a major structure,
the Roberts Lake Thrust fault. This geological setting is
considered similar to the setting at the Snow Lake Gold Mine where
the gold mineralization is associated with subparallel secondary
and tertiary faults off the McLeod Road Thrust. The summer
program will prioritize areas for detailed geophysical surveys and
drill targets for next winters phase-two drill program. The multi
episodic gold occurrences found to date on the property warrant
further detailed review and analysis".
The core was hand split, to assure maximum
sample size and shipped directly to the TSL Lab in Saskatoon SK. from Creighton SK. Canadian Standards were randomly
inserted, with repeats of the same standards used throughout the
program. Results were returned within the acceptable limits for all
Standards, thus confirming the quality of TSL assays. All
samples split for analyses were subjected to 40 element ICP-MS,
with all samples that returned more than 2 grams of Au from the
ICP-MS analyses were subjected to 2 assay ton fire assay. All
samples with visible gold were subjected to full metallic assays.
The assaying was done by TSL Labs of Saskatoon, SK.
As set out in the Company's NI 43-101 Technical
Report dated May 12, 2012 and filed
on SEDAR, the Wekusko Gold Property hosts historic and recent
discoveries of moderate to high grade gold mineralization in near
surface quartz veins. Prospecting and geochemical work north
of the high grade Ferro and Rex
Laguna trending belts also indicate potential for Snow Lake
Mine (formerly New Britannia Mine) type of larger tonnage, lower
grade gold deposits. From 1949 to 2005, the Snow Lake Mine
produced 1,428,290 ounces of gold recovered from 12,124,449 tons
milled for a recovery grade of 0.117 oz/ton.
Daniel Ziehlke,
VP of Exploration for Great Northern Gold, is the Company's
Qualified Person under the definition of NI 43-101, and has
reviewed this press release for accuracy and compliance with NI
43-101. Information relating to adjacent properties has not been
verified by Great Northern Gold and is not necessarily indicative
of the mineralization on the Wekusko Gold Property. The
Wekusko Gold Property is an early-stage mineral property and does
not contain a resource as defined by NI 43-101.
About Great Northern Gold Exploration
Corporation
Great Northern Gold is a gold exploration company operating in
Northern Canada and has an option
to earn a 100% undivided interest in the property known as the
Wekusko Property located 23 kilometers southeast of Snow Lake, Manitoba and comprising 55 mineral
claims totaling approximately 8,880 hectares. Great Northern Gold
has also entered into a Property Option Agreement to earn a 100%
undivided interest in the property known as the Ferro Mine Property
located 23 kilometers southeast of Snow
Lake, Manitoba and east of Wekusko Lake, Manitoba. Please visit
www.greatnortherngold.com for more information.
Capitalization:
Number of common shares outstanding: 20,220,867
Number of fully diluted shares outstanding: 24,507,533
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SOURCE Great Northern Gold Exploration Corporation