Jet Gold Corp.: Exploration Update
15 8월 2008 - 2:08AM
Marketwired
Robert L. Card, President, Jet Gold Corp. (TSX VENTURE: JAU) ("Jet
Gold" or the "Company") is pleased to report that activities
associated with its ongoing exploration on the Company's properties
are advancing.
Naskeena Coal Project
Drilling is going well with approximately 2800 ft drilled in
July. Costs are down to around $35/ft and should stay in that range
while drilling the present areas. Drilling starts today on a
southern leg of an X shaped drill plan. Multiple coal seams have
been encountered to date in all holes. Drill cores are now being
logged. Once prepared they will be sent to the lab for analysis
with results expected back within 4-6 weeks. The Company
anticipates this drilling program to continue well into the fall
and early winter months (depending on weather conditions). The
Company has applied for an additional 1500 ha on the southern
boundary of its present tenure, adding about 1/3 to the size of its
current project area.
Kshish Molybdenum Update
The Company has completed the initial prospecting on the Kshish
Molybdenum ("Kshish") property near Terrace, British Columbia,
Canada and has found interesting molybdenite occurrences. The
property is located 15 km northeast of the town of Terrace and is
serviced by nine kilometres of public road and eight kilometres of
logging road. Jet Gold holds options on approximately 4100 ha of
mineral tenures covering the Kshish property.
Exploration work on the Kshish property has been on-going
through the spring of 2008 with stream sediment sampling and
general prospecting being the focus at this time. The work has
followed the snow up the mountain and access is now at a point
where the prospecting crews can work in the area identified as the
original main target, Area 1, the Newtown creek exposure. This area
also includes two zones of anomalous molybdenum values in soil
samples identified by Amax in 1967 and 1968.
Stream sediment and moss mat samples were taken at 12 locations
within the property with values ranging from 2 ppm to 45 ppm with
values over 15 ppm considered to be anomalous. The general area
covered by this sampling is approximately 2600 ha and it is
anticipated the further sediment sampling will be required in areas
that were not accessible in the spring to further refine
prospecting targets. This work has been undertaken to ensure that
adequate coverage of the property was in place as well as to follow
up on the previous samples taken by the BC Geologic Survey and
Amax.
The current sediment samples represent only the initial 1/4 of
the property. The prospecting to date and the historic information
has defined Area 1 of having an approximately area of 800 ha (3000m
x 3000m) which will be the primary focus for 2008. The exploration
on remainder of the property will be continued during the
summer.
Large rock samples have been collected and prepared for
assaying. The Company will be reporting on these sample assays
shortly along with additional rock, soil and mat samples sent for
assay to ALS Chemex.
Based on present work, the mineralized rock is evident over 400m
(1300ft) of the creek exposure and additional mineralized rock has
been identified well upstream and requires further detailed
prospecting work. MINFILE 103I 033 showing which is approximately 2
km west of the Newtown Creek exposure, has a reported value of
0.48% molybdenite but prospecting has not yet reached this area.
This reported showing is within one of the north east trending
fractures. It is anticipated that more areas of mineralization will
be discovered across this large property with the goal of defining
new molybdenite source stock works and drill targets for either a
late fall or spring drill program.
The information contained in this news release has been reviewed
and approved by Alex Burton, P.Geo., P.Eng., a qualified person
under the definitions established by National Instrument
43-101.
On behalf of the Board of Directors
Jet Gold Corp
Robert L. Card, President
All statements, other than statements of historical fact, in
this news release are forward-looking statements that involve
various risks and uncertainties, including, without limitation,
statements regarding the potential extent of mineralization and
reserves, exploration results and future plans and objectives of
Jet Gold Corp. These risks and uncertainties include, but are not
restricted to, the amount of geological data available, the
uncertain reliability of drilling results and geophysical and
geological data and the interpretation thereof, and the need for
adequate financing for future exploration and development efforts.
There can be no assurance that such statements will prove to be
accurate. Actual results and future events could differ materially
from those anticipated in such statements. These and all subsequent
written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and
are expressly qualified in their entirety by this notice. The
Company assumes no obligation to update forward-looking statements
should circumstances or management's estimates or opinions
change.
This news release was prepared by JAU management, which takes
full responsibility for its contents. The TSX Venture Exchange has
not reviewed and does not accept responsibility for the accuracy or
adequacy of this news release.
Contacts: Jet Gold Corp. Robert L. Card (604) 687-7828 (604)
687-7848 (FAX) Email: Robertcard@shaw.ca Website:
www.jetgoldcorp.com
Jet Gold Corp. (TSXV:JAU)
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