Gold discovery ....
posted on
Dec 10, 2008 04:52AM
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.
Attention Business/Financial Editors:
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