Welcome To The Blue Note Mining HUB On AGORACOM

Blue Note Mining is a Canadian mineral exploration and mining company headquartered in Montreal. The company's shares trade on the TSX Venture Exchange under the symbol BNT.

Free
Message: Gold discovery ....

Gold discovery ....

posted on Dec 10, 2008 04:52AM

Attention Business/Financial Editors:

Blue Note Makes Significant Gold Discovery in N.B

    Shares Outstanding; 363 Million
    Symbol & Exchange: BN-TSX

    Drilling Intersects 11.2 g/t gold over 2.8 meters, 15 meters from surface

    MONTREAL, Dec. 10 /CNW Telbec/ - Blue Note Mining Inc. ("Blue Note")
reports discovering a significant gold occurrence on its Williams Brook
property located close to its Caribou Mine near Bathurst, New Brunswick.
    Drill hole WB-08-11 returned 2.8 meters assaying 11.2 grams of gold per
tonne including a half meter section assaying 24.1 grams of gold per tonne.
The gold mineralization was intersected 15 meters vertical from surface. True
width of this mineralized intersection is not known.
    Another three diamond drill holes, holes WB-08-03 to WB-08-05, drilled
from the same drill set-up to determine orientation of the mineralization,
intersected broad zones of alteration and mineralization. The best
intersection from these holes returned an estimated true width of 23.3 meters
grading 0.74 g/t Au with grades up to 5.32 g/t Au over 0.8 meter in WB-08-04.
    Blue Note drilled 24 shallow diamond drill holes at Williams Brook this
year. The drilling followed a soil sampling and trenching program the company
undertook in 2007 which identified several surface gold occurrences across the
property.
    "This is a significant gold discovery for the Bathurst camp," said
Michael Judson, Blue Note's President and Chief Executive Officer. "While
early stage yet, it has all the ear-marks of a compelling discovery - good
grades, good widths and not too deep."
    Blue Note is currently waiting for more assay results. To date, complete
analytical data has been received for drill holes WB-08-01 to WB-08-05 and
WB-08-09. The analytical results showing significant gold values and hole
location tables are included in this release.
    Two types of gold mineralization have been identified on the property.
The first type of gold mineralization is associated with disseminated pyrite
in pink potassic-altered rhyolite. This type of mineralization has been found
in two broad sub-parallel northeast-southwest trending zones, which have been
interpreted using induced polarization and soil geochemical surveys, trenching
and diamond drilling, and measured over horizontal widths that exceed 20
meters. The second type of gold mineralization has returned the highest gold
values, including those found in hole WB-08-11. This gold mineralization is
observed in quartz veins and heavily quartz veined rhyolite that contains
variable concentrations of disseminated or blebs of pyrite, sphalerite and
galena. The orientation of the gold-bearing quartz veins has not been
determined from diamond drilling and conditions in the trenches, including
highly fractured bedrock, precluded productive structural interpretation.
    Blue Note Mining acquired the Williams Brook Property from prospector,
David O'Neil in November 2006 and has an option to acquire a 100% interest in
the property. The property is located 85 kilometers west of Bathurst, NB and
45 kilometers west of the company's Caribou mine site where a currently idle
3,000 tonnes per day processing facility is on care and maintenance due to the
current base metal market conditions.
    Blue Note has significantly increased mineral claim holdings in the
vicinity of the Williams Brook property. Complete reporting of the 2008
exploration results on Williams Brook will be disclosed once the analytical
results of all drill holes have been received and compiled.

    <<
    -------------------------------------------------------------------------
                                                            Est.
                                                            true
    Hole no.         Form       To     Length    g/t Au    width     Method
    -------------------------------------------------------------------------
    WB-08-03          28        66      38.0      0.67      25.0      INAA
    -------------------------------------------------------------------------
    Includes          50        66      16.0      1.29      10.5      INAA
    -------------------------------------------------------------------------
    Includes          50        59       9.0      1.82       5.9      INAA
    -------------------------------------------------------------------------
    WB-08-04        18.0      46.0      28.0      0.74      23.3      INAA
    -------------------------------------------------------------------------
    Includes        29.0      45.0      16.0      1.09      13.3      INAA
    -------------------------------------------------------------------------
    Includes        38.0      44.0       6.0      2.05       5.0      INAA
    -------------------------------------------------------------------------
    Includes        38.0      39.0       1.0      5.32       0.8      INAA
    -------------------------------------------------------------------------
    WB-08-05        24.0      70.0      46.0      0.23      23.0      INAA
    -------------------------------------------------------------------------
    Includes        39.0      42.0       3.0      1.01       1.5      INAA
    -------------------------------------------------------------------------
                                                             Not
    WB-08-11        22.0      24.8       2.8     11.16     known     FA-MS
    -------------------------------------------------------------------------

    Table 1. Analytical results


    -------------------------------------------------------------------------
                                                                      Hole
                                                         Azimuth     length
    Hole no.          Line      Station        Dip     (degrees T)     (m)
    -------------------------------------------------------------------------
    WB-08-01         300-N       320-W         -45          90         100
    -------------------------------------------------------------------------
    WB-08-02         300-N       320-W         -60          90         149
    -------------------------------------------------------------------------
    WB-08-03        1400-N       375-W         -45          90         101
    -------------------------------------------------------------------------
    WB-08-04        1400-N       375-W         -45         140          74
    -------------------------------------------------------------------------
    WB-08-05        1400-N       375-W         -70         140          93
    -------------------------------------------------------------------------
    WB-08-09         400-N       530-W         -45         270          60
    -------------------------------------------------------------------------
    WB-08-11         300-N       625-W         -45          90          61
    -------------------------------------------------------------------------

    Table 2. Holes location and orientation and length.
    >>

    Diamond drill core was split for sampling with a diamond saw and half of
the core sampled and shipped to the Activation Laboratories Ltd. sample
preparation facility in Fredericton, NB. Samples were analyzed at the
Activation Laboratories Ltd. facility in Ancaster, ON by INAA, fire assay and
selected samples by fire assay - metallic screen - gravimetric finish method
(fa-ms), as indicated in Table 1. Discrepancies in fire assay results that
were beyond acceptable values were identified in standard samples submitted
with holes WB-08-03 to WB-08-05, whereas standards analyzed by INAA method
were within acceptable ranges. Although the fire assay results typically
substantiate the INAA results, the fire assay results for these samples are
under review and only the INAA results for WB-08-03 to WB-08-05 are presented
in this release.

    Arthur Hamilton, P.Geo., Regional Exploration Manager, Blue Note Caribou
Mines Inc. is a Qualified Person and has reviewed the technical information
contained in this press release.

    Blue Note Mining is a Canadian mining company headquartered in Montreal
with operations in Bathurst, New Brunswick. The company's shares trade on the
TSX Exchange under the symbol BN.

    Forward-Looking Statements

    This news release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws that involve
risks and uncertainties. Although the company believes the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, it can give no assurances that its expectations will be achieved.
Factors that could cause actual results to differ materially from expectations
include the effects of general economic conditions, actions by government
authorities, uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the Company's products and
competitive pressures. These factors and others are more fully discussed in
Company filings with Canadian securities regulatory authorities.

    The TSX does not accept responsibility for the adequacy or accuracy of
    this news release.


For further information: Lorne Woods, Vice President Investor Relations,
Blue Note Mining, (800) 937-3095, lwoods@bluenotemining.ca,
www.bluenotemining.ca

Dec 13, 2008 02:09PM

Dec 13, 2008 05:05PM
Share
New Message
Please login to post a reply