....Angelina Gold.Property...100 % Owned.....SKP
posted on
Jul 18, 2010 08:10PM
Focused on the Rice Lake Gold Belt
NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: GOSSAN RESOURCES LIMITED TSX VENTURE SYMBOL: GSS FRANKFURT SYMBOL: GSR APRIL 19, 2004 - 00:30 ET Gossan Drilling Angelina Gold Property WINNIPEG, MANITOBA--(CCNMatthews - Apr 19, 2004) - Gossan Resources Limited (GSS-TSX.V & GSR-Frankfurt/ Freiverkehr) has initiated a 10-hole, 1000m drill program at its Angelina Gold Property, located 27-km southeast of Bissett, Manitoba. This initial drill program will focus on testing targets around the Discovery Zone where Gossan has found surface gold mineralization of up to 18gpt over 3.7m (0.53opt over 12.1ft) associated with quartz and carbonate veining within regional-scale shear zones. The Angelina Property hosts two of these major shear systems, which extend up to 1 km in width and along strike in excess of 2 km. The program includes four reconnaissance holes to be drilled at three locations. Two holes are planned to investigate the gold mineralization found in Hole E-88-03 undertaken by Rhino Resources Inc., which returned over 0.3opt gold over the 6-feet of core assayed. The other holes will test additional geophysical anomalies coincident with shear zones and lithological boundaries. Rodren Drilling Ltd. has been contracted to undertake this drill program. The 2313-hectare Angelina Property is located within the Rice Lake greenstone belt, the most significant gold district in Manitoba with more than 1.7 million ounces of past gold production. The Angelina Property is situated between Mid North Resources Corp.'s Cryderman and Central Manitoba Mine properties, which are both being actively explored under option to Placer Dome Inc. Between 1927 and 1937, the Central Manitoba Mine produced 137,817 ounces of gold at an average grade of 0.36opt gold. Elsewhere within the active Bissett gold camp, the San Antonio mine had historic gold production of 1.4 million ounces. Gossan also holds three additional gold properties in the Bissett area totalling 1749 hectares. Gossan Resources Limited is engaged in mineral exploration in Manitoba and northwestern Ontario. It has a well-diversified portfolio of properties hosting gold and platinum group metals, as well as the specialty metals, tantalum, chromium, titanium and vanadium. The Company also has large deposits of magnesium-rich dolomite and silica sands. Gossan trades on the TSX Venture and the Frankfurt/Freiverkehr & Xetra Exchanges and has 14,516,124 shares outstanding (19,116,124 shares fully diluted).