August Metal Corp. (TSX VENTURE: AGP) (the "Company" or "August")
is pleased to announce trench results for the Las Lajas Gold
Project in southern Sonora State, Mexico. The best results were 12
meters grading 2.92g/t Au in trench T-15 and 4 meters grading
202.5g/t Ag in trench T-27 in the El Terco zone, two separate
intervals of 12 meters grading 1.30g/t Au and 18 meters grading
1.06g/t Au in trench T-32 in the El Peluchin West zone, 2 meters
grading 8.00g/t Au in trench T-42 in the Peluchin Northwest
Extension and 38 meters of .733% Cu in trench T-19 in the El
Triunfo zone.
The Company is very pleased with the results of the trenching
program on the Las Lajas Gold Property. The program has clearly
demonstrated the widespread nature of gold mineralization at Las
Lajas and has confirmed the potential for both high grade
structurally controlled gold deposits, and large, bulk tonnage gold
mineralization.
The trenching program was designed to test soil and rock
geochemical anomalies from 6 separate gold and copper exploration
targets, outlined in prior exploration programs by Minera Glamis
and Minera Phelps Dodge in the 1990s and by Minera Goldzone in 2008
to 2010. A total of 4,395 metres in 47 trenches were excavated at
the El Terco, El Peluchin, El Triunfo, Peluchin West, Peluchin
Northwest Extension and Las Avispas mineralized zones. See the
Company website for maps, and NI43-101 report at www.sedar.com for
geological setting and project overview.
El Terco
El Terco is a gold-rich silicified zone, hosted in green schist
intercalated with, and underlain by, limestone that trends NNE and
dips moderately WNW. Mineralization has been partially exposed over
an area 600 meters long and 200 meters wide by numerous shallow
artisanal mines and a 30 meter deep shaft (Pozo del Gringo). Gold
occurs in grey, silicified zones hosted in fractured
quartz-chlorite schist with minor illite and illite-smectite.
Quartz preferentially replaces limestone, and is generally massive
with no epithermal textures. Minera Goldzone collected 88 surface
rock chip-channel and grab samples from El Terco. The best overall
result was 7.04 g/t Au across 1 m. Of the 88 samples, 13 (15%)
contained more than 1 g/t Au, and the average result of all 88
surface rock samples was 0.64 g/t Au.
Just east of the principal workings, sub cropping green oxides
in hematitic quartz boulders yielded significant anomalous silver
values for prospectors utilizing a Niton XRF gun. Trench T-27 was
cut through this prospect, and yielded results of 202.5 g/t Ag,
0.27 g/t Au 0.25% Pb and 0.2% Zn across 4 meters.
Approximately 400 meters south of the main El Terco prospects,
Trench T-14 cut 4 meters of 0.77 g/t Au, 1 g/t Ag and 0.3% As.
Approximately 80 meters to the south, this zone was intercepted
again in Trench 15, which yielded results of 2.92 g/t Au and 1.6
g/t Ag across 12 meters.
El Peluchin
El Peluchin is a historic open-cut mine approximately 80 meters
long, one to 3 meters wide, and has been stoped out to a depth of
about 20 meters. Minera Goldzone collected 10 rock samples from
Peluchin Stope which had an average value of 0.86 g/t Au and 3.9
g/t Ag. Mineralization occurs in grey quartz veins hosted in
muscovite schist. The veins strike northwesterly and dip moderately
southwest. Trench T-16, cut 60 meters NNW of the stope, intercepted
two zones of quartz veining: (i) 8 meters of 0.68 g/t Au, 0.6 g/t
Ag and 0.6% As, and (ii) 2 meters of 0.79 g/t Au, 15.7 g/t Ag, 0.3%
As and 0.7% Pb. A further 370 meters to the NNW, these two zones
were intercepted again in Trench T-26: (i) 0.55 g/t Au, 4.1 g/t Ag,
and 0.6% As across 2 m and (ii) 0.76 g/t Au, 3.0 g/t Ag and 0.3% As
across 2 m.
El Triunfo
El Triunfo is defined by several other small prospect pits over
500 meters of strike length along a NNW trending zone that dips
moderately southwest. Mineralization consists of copper-rich
chrysocolla and chalcocite that is hosted in foliation parallel
fractures in green schist west of a monzodiorite porphyry. The
average result of 12 Goldzone rock samples from different prospects
on the El Triunfo structure was 0.38% Cu, 0.15% Zn, 5.9 g/t Ag and
0.1 g/t Au. Trenching has confirmed continuity of the El Triunfo
over a strike length of 160 meters in the central part of the zone.
Overall, the best result was 0.73% Cu, 0.17% Zn, 1.9 g/t Ag and
0.07 g/t Au across 38 meters in Trench T-19.
El Peluchin West
In this area, trenching has discovered three new mineralized
trends hosted in oxidized greenschist: A, B and C (see website
maps). Trend A is defined by intercepts in Trenches Tr-1, Tr-2 and
possibly Tr-12, located 540 meters northwest of T-2. From Tr-1,
results of 0.43 g/t Au and 1.2 g/t Ag occur across 9 meters. In
Tr-2, 0.28 g/t Au, 4.8 g/t Ag and 0.11% Pb occurs across 16 meters.
In Tr-12, values of 1.87 g/t Au and 3.3 g/t Ag occur across 4
meters. Trend B is more complex, with several anastomosing veins
implied by the mineralized intercepts. The structures are intruded
by several felsic dykes. Overall, the best result from Trend B is
22 meters of 0.5 g/t Au and 0.3 g/t Ag in Tr-8. The zone is
reasonably well defined over a 250 meter strike length to the
northwest and southeast. Trend C is parallel to, but 250 meters
northeast of Trend B. The best results from this area were two
intercepts in Trench T-32: (i) 12 meters of 1.3 g/t Au and 0.4 g/t
Ag, and (ii) 18 meters of 1.06 g/t Au with 0.6 g/t Ag and 0.15%
Zn.
Peluchin Northwest Extension
This area is underlain by green schists with minor intercalated
limestones that are intruded by a granodiorite stock. The intrusive
is porphyritic, and feldspars are affected by minor kaolinite
alteration. Locally, the intrusion is cross-cut by red-grey quartz
veins with abundant specularite and locally, native gold. Some of
the better grades in Trench T-38 were: 3.34 g/t Au and 0.3 g/t Ag
across 2 meters and 3.42 g/t Au and 1.5 g/t Ag across 2 meters. In
the greenschist west of the intrusion, good results were returned
from Trench 42: (i) 8 meters of 2.23 g/t Au and 5.8 g/t Ag and (ii)
2 meters of 8 g/t Au and 1.4 g/t Ag.
Las Avispas
Spectacular, easterly trending intermediate sulfidation
epithermal quartz veins and breccias outcrop discontinuously over a
1.3 kilometer long strike length about 1.8 kilometers east of the
El Terco Monument. The veins and breccias are hosted in thinly
bedded limestones and intercalated schists that strike easterly and
dip moderately to the north. In general, the mineralization is
guided by the stratigraphic orientation, but it is not confined to
bedding/foliation planes. There are two historic mine shafts
located along the central 275 meters of an ore shoot where most of
the quartz veining and brecciation seems to be focused.
Minera Goldzone collected 8 rock samples from the Avispas Vein.
The average result of these was 70 g/t Ag, 0.66 g/t Au, 1.3% Zn,
0.3% Pb and 0.05% Cu. The Company's Qualified Person sampled the
dumps from the two shafts as the dump material is fresher than the
surface outcrops, and would hopefully be more representative of the
material targeted by the miners. The westernmost sample contains
1103 g/t Ag and 0.79 g/t Au, and the easternmost sample contains
bonanza grades of 46.87 g/t Au and 56 g/t Ag.
SWIR spectrometry of samples from the Abejas and other
epithermal style veins to the north shows that the alteration
mineralogy of the samples is mainly illite, as would be expected in
a high-grade vein, although alunite (aluminum sulfate) was found in
one sample, and barite (barium sulfate) was found in the sample
from the eastern dump on the Abejas Vein.
Trench T-30 intercepted two zones in the Avispas area: (i) 27.8
g/t Ag, 0.1 g/t Au, 0.5% Pb, 0.8% Zn across 2 m and (ii) 50 g/t Ag,
0.1 g/t Au, 0.3% Pb and 0.2% Zn across 2 m.
Analytical results from trench samples from Las Lajas, Navojoa,
Sonora, Mexico
----------------------------------------------------------------------------
Trench From To Width Au Ag As Cu Pb Zn
ID (m) (m) (m) (g/t) (g/t) (ppm) (ppm) (ppm) (ppm)
----------------------------------------------------------------------------
T-1 33 42 9 0.43 1.2 218 67 25 444
----------------------------------------------------------------------------
T-2 72 88 16 0.28 4.8 1,427 90 1,120 421
----------------------------------------------------------------------------
T-6 30 38 8 0.89 0.2 263 14 9 27
----------------------------------------------------------------------------
T-7 12 14 2 1.38 0.2 502 21 11 53
----------------------------------------------------------------------------
T-7 20 30 10 0.22 0.2 106 3 11 13
----------------------------------------------------------------------------
T-8 14 36 22 0.50 0.3 472 21 12 49
----------------------------------------------------------------------------
T-8 64 70 6 0.38 0.2 477 49 8 98
----------------------------------------------------------------------------
T-8 110 114 4 0.75 0.4 757 72 13 144
----------------------------------------------------------------------------
T-8 122 126 4 3.72 0.7 495 102 34 191
----------------------------------------------------------------------------
T-9 74 78 4 0.81 0.2 436 50 9 113
----------------------------------------------------------------------------
T-12 48 52 4 1.87 3.3 1,222 372 26 114
----------------------------------------------------------------------------
T-13 16 32 16 0.44 0.2 168 38 3 70
----------------------------------------------------------------------------
T-13 72 90 18 0.24 0.4 979 27 8 16
----------------------------------------------------------------------------
T-14 36 40 4 0.77 1.0 3,052 379 8 64
----------------------------------------------------------------------------
T-15 30 42 12 2.92 1.6 460 244 7 30
----------------------------------------------------------------------------
T-16 20 28 8 0.68 0.6 5,975 128 16 35
----------------------------------------------------------------------------
T-16 42 44 2 0.79 15.7 2,870 120 6,750 87
----------------------------------------------------------------------------
T-17 6 54 48 0.03 0.5 109 1,625 9 1506
----------------------------------------------------------------------------
T-18 12 16 4 0.03 0.8 24 13,100 13 1,232
----------------------------------------------------------------------------
T-19 10 48 38 0.07 1.9 124 7,330 37 1,728
----------------------------------------------------------------------------
T-20 28 32 4 0.01 0.2 115 3,185 4 1,585
----------------------------------------------------------------------------
T-26 78 80 2 0.55 4.1 5,520 215 285 246
----------------------------------------------------------------------------
T-26 130 132 2 0.76 3.0 2,870 96 77 258
----------------------------------------------------------------------------
T-27 20 24 4 0.27 202.5 268 191 2,455 1,907
----------------------------------------------------------------------------
T-30 0 2 2 0.10 27.8 360 414 5,030 8,190
----------------------------------------------------------------------------
T-30 34 36 2 0.10 50.0 162 311 2,990 1,530
----------------------------------------------------------------------------
T-32 46 58 12 1.30 0.4 288 144 7 465
----------------------------------------------------------------------------
T-32 64 82 18 1.06 0.6 257 309 4 1,526
----------------------------------------------------------------------------
T-35 32 36 4 0.67 0.3 34 32 4 52
----------------------------------------------------------------------------
T-36 86 89 3 0.81 0.2 307 44 10 116
----------------------------------------------------------------------------
T-36 92 95 3 0.42 0.2 815 34 6 66
----------------------------------------------------------------------------
T-36 105 109 4 0.73 0.3 203 27 5 46
----------------------------------------------------------------------------
T-36 139 141 2 0.56 0.2 1,240 89 2 45
----------------------------------------------------------------------------
T-37 84 87 3 1.16 0.2 19 2 7 21
----------------------------------------------------------------------------
T-38 64 66 2 3.34 0.3 206 6 12 21
----------------------------------------------------------------------------
T-38 88 90 2 1.28 0.4 313 13 39 63
----------------------------------------------------------------------------
T-38 122 124 2 3.42 1.5 1,020 83 94 435
----------------------------------------------------------------------------
T-42 14 22 8 2.23 5.8 2,107 382 271 132
----------------------------------------------------------------------------
T-42 66 68 2 1.61 0.8 7,620 34 24 51
----------------------------------------------------------------------------
T-42 102 104 2 8.00 1.4 770 167 49 36
----------------------------------------------------------------------------
T-42 112 114 2 0.96 0.3 2 27 50 52
----------------------------------------------------------------------------
T-45 0 3 3 1.15 3.4 304 37 25 57
----------------------------------------------------------------------------
The 1,500 meter diamond drilling program announced on April 13,
2011 is well underway and is expected to be increased to 2,200
meters. The drill program is designed to test targets defined and
untested by previous operators, and targets generated by the
recently completed trenching program on the Las Lajas Gold
Project.
Comments on Sampling, Assaying and QA/QC
This news release was reviewed by Michelle Robinson, MASc.,
P.Eng., August Metal Corp.'s independent Qualified Person as
defined by NI 43-101. Trenches were mechanically excavated using a
backhoe Cat 420 D 4x4 to a depth ranging from a few centimeters on
rocky ridges to 3 meters in overburden covered areas. The trenches
were mapped by a geologist, and then sampled at two or three meter
intervals, mainly from west to east. Sample weights ranged from 3
to 6 kilograms. The samples were labeled, sealed in plastic bags,
and then collected in grain sacks. Blind standard and blank samples
were inserted at random intervals into the sample stream. From the
field, the samples were shipped by courier to ALS Chemex de Mexico
S.A. de C.V. in Hermosillo Sonora for preparation. The samples were
weighed, logged, crushed, pulverized then fine-crushed. The samples
were then split with a riffle splitter and pulverized to 85% less
than 75 microns. Prepared pulps were then sent to Chemex's main lab
in Vancouver, British Columbia, Canada for analysis. Gold was
determined using a fire assay of a 50 gram pulp with and AA finish
(Au-AA24). Base metals and silver were determined using ICP-AES
methods on a 0.5 gram pulp dissolved in hot aqua regia (ME-ICP41).
Chemex's quality control system complies with the requirements for
the International Standard ISO 9001:2000 by monitoring analytical
accuracy and precision with the insertion and analysis of blanks,
reference standards and duplicate samples. The qualified person has
taken random duplicates of anomalous and non-anomalous samples from
the trenches to verify the general tenor of the results.
Reza Mohammed BSc., President
August Metal Corp.
Certain disclosure in this release constitute forward-looking
statements that are subject to numerous risks, uncertainties and
other factors relating to the Company's operation as a mineral
exploration company that may cause future results to differ
materially from those expressed or implied by those forward-looking
statements. Readers are cautioned not to place undue reliance on
these statements as they involve known and unknown risks,
uncertainties and other factors that may cause a change in
assumptions and the actual outcomes and estimates may be materially
different from the estimated or anticipated future results,
achievements or positions expressed or implied by those
forward-looking statements. The Company disclaims any intentions or
obligations to update or revise any forward-looking statements
whether as a result of new information, future events or
otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Progressive Investor Relations Ben Curry (604)
689-2881 Progressive Investor Relations Andrew Mugridge (604)
689-2881 info@augustmetal.com www.augustmetal.com
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