Augen Gold Reports on Gold Exploration Program
21 9월 2011 - 12:22AM
Marketwired
Augen Gold Corp. ("Augen Gold") (TSX VENTURE: GLD) is pleased to
provide an update on its drilling campaign within the North Shore
Area, several kilometres northeast of the historical Jerome Gold
Mine. This area is centrally located within Augen Gold's
45-kilometre-long South Swayze Property, which is approximately
halfway between the mining centers of Sudbury and Timmins in
Ontario.
In the past three months, Augen Gold completed 26 drill holes
for 6,900 metres and extended another 8 holes for 1,395 metres in
the North Shore Area. Most holes and extensions targeted the
promising North Shore Trend, and available assays show numerous
significant gold intersections, most of which establish continuity
within two mineralized zones that had returned several high-grade
intersections including 66.80 g/t Au over 1.50 metres, 24.00 g/t Au
over 1.50 metres and 23.20 g/t Au over 1.12 metres, as reported
earlier in the year. Results from an additional 12 holes and
2,999.50 metres of drilling remain pending from the North Shore
Area. Drilling continues to evaluate the potential of this
area.
Highlights from available assays are summarized below.
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DDH No Sample No. From (m) To (m) Width (m) Au (g/t)
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NS11-90EXT J085686 296.40 297.55 1.15 7.68
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NS11-100EXT L306380 465.00 466.50 1.50 7.99
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NS11-117 J089421 42.00 43.50 1.50 3.17
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J089422 43.50 45.00 1.50 4.52
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NS11-119 J084088 43.70 45.00 1.30 4.49
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NS11-135 L306557 151.00 152.50 1.50 2.85
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NS11-138 J084897 87.00 88.50 1.50 3.35
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J084959 193.50 195.00 1.50 4.09
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J084979 216.00 217.50 1.50 5.60
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NS11-139 L306094 168.00 169.50 1.50 2.36
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NS11-140 J085838 142.60 143.42 0.82 3.47
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J085844 149.30 150.80 1.50 7.89
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NS11-141 J085994 161.23 162.70 1.47 1.73
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NS11-142 L306681 176.57 178.07 1.50 3.64
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NS11-143 L308604 139.50 141.00 1.50 1.73
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L308641 218.38 219.06 0.68 5.00
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NS11-144 L30864748 2.00 4.50 2.50 4.16
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L308707 228.00 229.50 1.50 5.03
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L308708 229.50 231.00 1.50 1.99
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NS11-145 L308792 178.50 180.00 1.50 4.64
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L308841 255.00 256.50 1.50 1.26
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L882060 280.50 282.00 1.50 1.25
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The North Shore Trend strikes west-northwest for more than 1,600
metres and consists of two parallel higher-grade auriferous zones
that dip steeply south within a halo of much lower grade gold, in
or adjacent to a band of magnetite-bearing Timiskaming
volcanics.
This trend was recognized earlier in the year when preliminary
drilling returned significant intersections including 10.60 g/t Au
over 10.50 metres and 6.72 g/t Au over 11.19 metres, as previously
set out in Augen Gold news releases dated May 11, 2011 and April
20, 2011, respectively.
The North Shore Trend shows similar strike and dip to auriferous
zones at the Jerome Mine, located to the southwest on a parallel
structure. Augen Gold recently announced an initial NI 43-101
compliant Mineral Resource estimate for Jerome that outlined a 1.03
million ounce Inferred gold resource (18.7 million tonnes grading
1.7 g/t Au) at a cutoff grade of 0.3 g/t, as reported in Augen
Gold's news release dated July 18, 2011.
Concurrent with the North Shore drill program, 8 holes totaling
3,475.84 metres have been completed in the West Cote Lake Area.
Results from this drill program will be reported upon receipt.
JVX Ltd. of Richmond Hill, Ontario completed down-hole induced
polarization (DHIP) surveys at both the North Shore and the West
Cote Lake Areas in July and August 2011 and results are pending. In
addition, till sampling carried out by Overburden Drilling
Management of Nepean, Ontario has revealed the widespread presence
of gold in the West Cote Lake Area. An interpretation is pending
and will be reported upon receipt.
Gold in drill core samples was determined at ALS Laboratory
Group by fire assay AAS on 30 gram charges. Samples reporting more
than 10 g/t Au were re-analyzed by the fire assay-gravimetric
method, also using 30 gram charges. Drilling was performed at a dip
of 45 degrees and therefore true width would be reduced to 75%.
About Augen Gold
Augen Gold is a gold exploration company with 23,685 hectares of
staked and patented mining claims in the Southern Swayze Greenstone
Belt, including the formerly producing Jerome Gold Mine. The claims
cover a 45-kilometre long section of the Ridout Deformation Zone,
believed to be the western extension of the Kirkland Lake/Larder
Lake Break. The geological setting is comparable to the major gold
camps of Timmins and Kirkland Lake, and the claims contain numerous
gold showings that have received very little historical
exploration.
The information contained in this news release has been prepared
by Augen Gold's Project Geologist, Gordon McRoberts, P.Geo., who is
a Qualified Person for the Company's Jerome Project under the
definitions established by National Instrument 43-101. The
potential quantities and grades disclosed herein with respect to
the North Shore Area drilling are conceptual in nature and there
has been insufficient exploration to define a mineral resource. It
is uncertain if further exploration will result in the target being
delineated as a mineral resource.
For more information on Augen Gold, visit our website at
www.augengold.ca.
This news release contains forward-looking statements. These
statements are based on information currently available to the
Company and the Company provides no assurance that actual results
will meet management's expectations. Forward-looking statements
include estimates and statements that describe the Company's future
plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to
occur. Forward-looking statements may be identified by such terms
as "believes", "anticipates", "expects", "estimates", "may",
"could", "would", "will", or "plan". Since forward-looking
statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things,
results of exploration, project development, reclamation and
capital costs of the Company's mineral properties, and the
Company's financial condition and prospects, could differ
materially from those currently anticipated in such statements for
many reasons such as: changes in general economic conditions and
conditions in the financial markets; changes in demand and prices
for minerals; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments;
technological and operational difficulties encountered in
connection with the activities of the Company; and other matters
discussed in this news release. This list is not exhaustive of the
factors that may affect any of the Company's forward-looking
statements. These and other factors should be considered carefully
and readers should not place undue reliance on the Company's
forward-looking statements. The Company does not undertake to
update any forward-looking statement that may be made from time to
time by the Company or on its behalf, except in accordance with
applicable securities laws.
Neither 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: Augen Gold Corp. Carmelo Marrelli Chief Operating
Officer and Chief Financial Officer 416-361-0737
carm@marrellisupport.ca www.augengold.ca
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