Golden Share drills 15.27 g/t Au over 1.2 m at Malartic
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Feb 04, 2009 04:13AM
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Golden Share drills 15.27 g/t Au over 1.2 m at Malartic
2009-02-04 08:48 ET - News Release
Mr. Philippe Giaro reports
GOLDEN SHARE INTERSECTS ADDITIONAL HIGH GRADES OF UP TO 15.27 G/T AU IN MALARTIC LAKESHORE DRILLING PROGRAM
Golden Share Mining Corp. has provided an update on its 2008 drilling program on the Malartic Lakeshore property in Quebec, Canada.
All results have now been received for the 2008 diamond drilling program completed on the Malartic Lakeshore property which comprised 31 holes totalling 3,637 metres. A total of 3,568 m were drilled on the RLM prospect; a 50 m wide mineralized zone consisting in a network of gold-bearing veins and recognized on surface over a strike length of 320 m.
In addition to the aforementioned mineralized intervals, numerous 0.50 to 4.00 g/t Au intersections were obtained and will be integrated in the database. Golden Share's 2008 summer stripping program has outlined over 25 individual veins and the attached preliminary sections 1125E and 1185E illustrate the depth extension of the vein network. To see the sections, click the following links:
http://media3.marketwire.com/docs/GS...
http://media3.marketwire.com/docs/GS...
http://media3.marketwire.com/docs/GS...
On Section 1185E, the compilation work has identified three historical diamond drill holes providing insights to the geology at levels below Golden Share's latest round of drilling.
Hole 116-4 was drilled in 1937 to a depth of 280 m and covers Section 1185E from a down hole depth of 105 m to 280 m. A very short log describes the presence of andesite and felsic porphyry with veins or stockwork of quartz, pyrite, galena and chalcopyrite over the entire length of the hole. Moreover visible gold was reported at a down hole depth of 99 m, approximately where hole 116-4 enters Section 1185E. No historic assays are available.
Hole VH-4 was drilled in 1986 to a depth of 307 m and covers Section 1185E from a down hole depth of 130 m to 156 m. Numerous quartz veins displaying pyrite and galena were observed. Historic assays of 2.23 g/t Au over 0.40 m were reported off Section 1185E.
Hole VH-79 was drilled in 1987 to a depth of 185 m and covers Section 1185E from a down hole depth of 97 m to 185 m. This hole was drilled parallel to the vein system and historic assays of 1.37 g/t Au over 0.61 m were reported off Section 1185E.
Philippe Giaro, president and chief executive officer, stated: "The results of our 2008 drill program clearly demonstrate the high-grade, vein-type nature of the mineralization and confirm the depth extension of an intense quartz vein system as observed on surface on the RLM prospect. Moreover, the mineralized system is now known to extend at depth, below Golden Share's 2008 drilling. As previously reported, Golden Share's first drilling campaign was aimed at improving the understanding of the geometry and the distribution of the mineralization near surface. As of today, geological modelling is still ongoing and final interpretations will orient the development of this strategic property located within the Norbenite-Marbenite shear and in close proximity to the Lapa and Canadian Malartic projects."
Golden Share's 2008 drilling was performed at high angle to the mineralized structures but the above intersections do not represent perfect true widths. All holes on the RLM prospect were drilled with an azimuth of 45 degrees (with the exception of hole ML-08-17 drilled with an azimuth of 360 degrees) and executed between sections 975E and 1320E; they therefore cover a 345 m strike length of the RLM mineralized structure. Updated maps will be generated as soon as the compilation is sufficiently advanced.
The Malartic Lakeshore exploration program is supervised by Alain Carrier, MSc, PGeo of InnovExplo. Alain Carrier is a qualified person and is independent as defined in National Instrument 43-101.
Individual samples weighting three kilograms on average have been taken from sawn half core at plus or minus one-metre intervals in the mineralized zones with consideration of the geological contacts. A rigorous quality assurance/quality control program involves the random inclusion of mineralized standards, duplicates and blanks at the sample collection and preparation stage. The samples are shipped to the ALS laboratory in Val d'Or, Que., for analysis by fire assay on 50-gram pulp samples. The sample preparation procedure involves the crushing of the entire three-kilogram sample followed by quartering to obtain a representative 850 to 1,000 g sample which is entirely pulverized and out of which a 50 g sample is isolated for analysis by fire assay. Samples suspected to contain visible gold or higher grade mineralization are assayed using the metallic sieve technique.
Golden Share's exploration programs are under the supervision of Laurence Huss, PGeo, and vice-president, exploration. Mr. Giaro, PGeo, president and CEO of Golden Share Mining and qualified person for Golden Share, has reviewed and approved the content of this release.
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