American Consolidated Minerals Corp.: Deep Drilling Completed at Toiyabe Project, Nevada, New Drilling Targets Defined
2010年10月7日 - 10:00PM
Marketwired
American Consolidated Minerals Corp. (TSX VENTURE: AJC) (the
"Company") has received assay results for deep core drilling at its
Toiyabe Project, located 12 miles south of the Pipeline Mine in
northeastern Nevada.
The program was designed to target favorable host rocks in the
hanging wall and footwall of the "805 Fault", a previously
identified feeder structure. Drill hole T-1002BC intersected 60
feet (48.0 ft. or 14.6 m true width) averaging 0.059 oz/ton gold
(2.03 g/t) from 973 to 1,033 feet (297 to 315 m). Included within
this interval is 15 feet (12.0 ft. or 3.7 m true width) of 0.149
oz/ton gold (5.11 g/t). This intercept has been interpreted as the
805 Fault giving the feeder structure a shallower dip (60 degrees
versus 75 degrees). This makes the hanging wall of the 805 Fault
the primary target for future drilling along this structure.
Drilling results and their combination with a new interpretation of
the structural fabric of the area derived from geologic mapping and
geophysics have produced a greatly expanded target area.
After a difficult and time-consuming effort which included three
lost or abandoned holes, the Company was able to drill T-1001BC to
2,187 feet. Although detailed logging and whole rock geochemistry
is ongoing, preliminary logging indicates a thick section of host
rocks suitable to host "Pipeline style mineralization". Three
low-grade sediment hosted intersections were made in the upper 610
feet (186 m) of the hole (see summary drilling results below). From
1,045 feet (318 m) to 1,100 feet (335 m) a fault zone was
intersected containing anomalous gold values. It was not until
T-1002BC was drilled and results received that it was determined
that this fault is the 805 structure. Therefore, T-1001BC did not
test the hanging wall of the 805 fault below 1,045 feet and drilled
away from the structure into barren rock.
T-1002A, a Reverse Circulation pre-collar hole deviated from the
planned vertical angle and was abandoned. This hole and T-1002BC
are approximately 100 feet (30 m) apart at a depth of 600 feet (183
m). Above 650 feet (210 m), the two holes have similar intercepts
of sediment hosted gold mineralization. Hole T-1002A intersected 40
feet (36 ft. or 11.0 m true width) averaging 0.054 oz/ton gold
(1.85 g/t) between 610 and 650 feet (186 to 198 m), while in
T-1002BC there was a 20 foot intersection, between 625 and 645 feet
(190 to 196 m) of 0.046 oz/ton (1.57 g/t) This indicates
significant potential to add open-pit ounces to the present
resource (Indicated mineral resource of 173,562 ounces gold).
Drill hole T-1002BC, although designed to be drilled nearby but
entirely within the footwall of the 805 Fault, crossed the fault
between 973 and 1,033 feet (297 to 315 m). This was not recognized
until later and the hole was continued to a total depth of 1,560
feet (475 m). The 805 Fault, previously thought to dip 75 degrees
to the southwest is now believed to dip no more than 60 degrees.
This moves the surface trace of the 805 Fault to the northeast and
indicates the strong potential for mineralization in the hanging
wall of this structure for several hundred feet to the southwest of
the fault trace.
All results for intercepts of greater than or equal to 5 feet @
greater than or equal to 0.01 oz/ton gold (0.34 g/t) are listed
below and a map of drill hole locations and new targets is posted
on the company website.
----------------------------------------------------------------------------
Toiyabe Summary Drilling Results (greater than or equal to 5 feet @ greater
than or equal to 0.01 oz/ton Gold)
----------------------------------------------------------------------------
Inter- True True Tar-
From To val Wid- Gold Silver Width Gold Silver get
Hole No. (feet)(feet) (feet) th (oz/ton)(oz/ton) (m) (g/t) (g/t) Area
----------------------------------------------------------------------------
T-1001BC 185 205 20 18.0 0.013 0.02 5.5 0.43 0.57 805
450 455 5 4.5 0.015 less 1.4 0.52 less Fault
than than
0.01 .50
595 610 15 13.5 0.011 0.05 4.1 0.38 1.57
1055 1065 10 8.0 0.014 0.03 2.4 0.49 0.90
----------------------------------------------------------------------------
T-1002A 315 335 20 18.0 0.016 0.02 5.5 0.54 0.75 805
365 370 5 4.5 0.013 0.04 1.4 0.44 1.30 Fault
545 585 40 36.0 0.023 0.01 11.0 0.78 0.31
610 650 40 36.0 0.054 0.02 11.0 1.85 0.58
----------------------------------------------------------------------------
T-1002BC 335 365 30 27.0 0.034 less 8.2 1.16 less 805
than than Fault
0.01 .50
Including 335 340 5 4.5 0.129 0.02 1.4 4.42 0.70
380 390 10 9.0 0.012 less 2.7 0.42 less
than than
0.01 .50
450 460 10 9.0 0.011 0.03 2.7 0.36 1.15
555 565 10 9.0 0.013 0.02 2.7 0.43 0.60
625 645 20 18.0 0.046 0.02 5.5 1.57 0.68
973 1033 60 48.0 0.059 0.05 14.6 2.03 1.83
Including 1003 1018 15 12.0 0.149 0.06 3.7 5.11 2.03
1175 1190 15 12.0 0.016 0.01 3.7 0.54 0.23
----------------------------------------------------------------------------
An interpretation of the structure of the Courtney area has been
developed using geophysics, drilling and recent geological mapping.
These studies indicate a series of northwest trending faults offset
by at least four northeast trending structures. The recognition of
these offsets has developed favorable portions of the northwest
trending structures to be tested by drilling, particularly at the
intersections with the northeast offsetting faults. A 3-4 hole
reverse circulation drill program is being designed to test these
intersections and to begin testing a strong geophysical anomaly to
the northwest. This program is expected to be completed by
year-end.
The current geophysical coverage has been extended to the
southeast and results are expected shortly. Once all the data has
been compiled an extensive exploration program will be designed for
the 2011 work season.
Environmental permitting of a large drilling program will be
initiated during the winter months. The Company plans to complete a
Plan of Operation (POO) with the Bureau of Land Management (BLM) in
Nevada that will allow exploration of a much larger portion of the
property.
"With the results of the drill program conducted at Toiyabe this
season, we are poised to move aggressively to the next step of our
exploration efforts," stated Al Fabbro, President of the Company.
"We have made great strides in advancing our geological
understanding of this gold property and fully expect that the next
phase of exploration will demonstrate the full potential at
Toiyabe."
Richard Kern (P.Geo), a director of American Consolidated
Minerals Corp, is the Company's Qualified Person on the project.
Mr. Kern has prepared the technical information contained in this
news release.
American Consolidated is dedicated to the principles of
environmentally sound mining practices and believes that
environmental stewardship and mining can co-exist.
For more information on the Company and its properties please
visit the Company's website at
www.americanconsolidatedminerals.com.
ON BEHALF OF THE BOARD:
Al Fabbro, President & Director
Neither the 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: American Consolidated Minerals Corp. Al Fabbro
1-604-602-4935 / Toll Free: 1-866-602-4935 1-604-602-4936 (FAX)
www.americanconsolidatedminerals.com
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