AM Gold Intercepts 60.9 Metres at 1.06 g/t Gold at Surface Included Within 233.6 Metres at 0.57 g/t Gold and Extends Minerali...
2011年11月21日 - 11:10PM
Marketwired
AM Gold Inc. (TSX VENTURE:AMG)(FRANKFURT:AMX) ("AM Gold" or the
"Company") is pleased to announce that the third tranche of assay
results received to date in 2011 continues to expand the extent of
wide, higher grade intervals surrounded by a halo of widespread,
continuous mineralization at Red Mountain, Yukon Territory, Canada.
The results now demonstrate the area of gold mineralization,
including the previous inferred resource estimate extends at least
500m in width, and at least 900m in length. The zone is open at
depth as well as laterally in all directions. For details on the
inferred resource estimate see the Company's news release dated
December 2, 2010, a copy of which is available at
www.sedar.com.
Key points:
-- The 2011 drill program has significantly extended the previous
mineralized area from 650m in length and approx 150m in width, to over
900m in length and 500m in width
-- The higher grade core within the Jethro Structure has been extended to
the west as demonstrated by core hole ICE 11055 Intersecting 60.9m @
1.06g/t Au starting near surface and with an intercept of 233.6m @
0.57g/t showing consistency of a large broad mineralized area.
-- ICE 11053 also confirms broad mineralized intercepts and grade
consistency starting at surface with 70.5 metres @ 0.74g/t Au and 25.5m
@ 1.11g/t within a broader intercept of 232.5m @ 0.57g/t Au.
-- The focus for the 2011 drill program continues to be validated with the
expansion of the mineralized zone in all directions.
"We have more than tripled the area of the mineralized footprint
previously identified in 2010. We recently contracted Geotech and
completed a VTEM geophysics to further assist us in defining the
potential scope and size of the Red Mountain Project. We are in the
process of data interpretation to further assist us in
understanding potential higher grade zones, potential control
structures and the scope and size of the Red Mountain project.
Based on current assays from AM Gold's 2011 drill season we have
extended the higher grade Jethro zone to the West and demonstrated
greater than a 300% increase from the 2010 mineralized area
footprint. Red Mountain has some control structures that are
yielding higher grade zones but ICE Hole 11056 has demonstrated
there is a very broad mineralized area not limited to the intrusive
as the metasediments are also carrying broad intercepts of gold
mineralization. To date our focus has been on resource expansion,
the next step will be to identify higher grade zones as we continue
to focus on resource growth," stated Mr Neil Downey, VP of
Exploration for AM Gold.
Assay results for six drill holes located at the western end of
the mineralized zone are summarized in the table below, and include
Drill Holes ICE11048 (partially reported earlier), ICE11049,
ICE11053, ICE11055, ICE11056, and ICE11058:
----------------------------------------------------------------------------
Interval
From To Length Gold
Hole Number (m) (m) (m) (g/t)
----------------------------------------------------------------------------
ICE11048 0.0 160.0 160.0 0.33
----------------------------------------------------------------------------
Including (i) 81.5 104.5 23.0 0.66
----------------------------------------------------------------------------
Including (i) 94.5 104.5 10.0 0.94
----------------------------------------------------------------------------
120.0 146.5 26.5 0.46
----------------------------------------------------------------------------
274.0 340.0 66.0 0.31
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ICE11049 3.0 57.5 54.5 0.48
----------------------------------------------------------------------------
116.0 160.0 44.0 0.30
----------------------------------------------------------------------------
297.0 382.5 85.5 0.48
----------------------------------------------------------------------------
Including 308.5 329.5 21.0 0.93
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ICE11053 1.5 234.0 232.5 0.57
----------------------------------------------------------------------------
Including 5.5 76.0 70.5 0.74
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Including 172.5 199.5 25.5 1.11
----------------------------------------------------------------------------
Including 195.0 196.5 1.5 11.10
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ICE11055 4.6 238.2 233.6 0.57
----------------------------------------------------------------------------
Including 4.6 65.5 60.9 1.06
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Including 175.5 193.5 18.0 0.61
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ICE11056 0.0 245.5 245.0 0.36
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Including 132.5 245.5 113.0 0.49
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ICE11058 3.0 164.0 161.0 0.38
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Including 24.0 81.5 57.2 0.50
----------------------------------------------------------------------------
Including 122.0 146.5 24.5 0.43
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Note: Reported Widths Are Drilled Thicknesses. True Widths Are Not Known
----------------------------------------------------------------------------
(i) Reported October 3, 2011
----------------------------------------------------------------------------
The 2011 drill program consists of a total of 23 core holes
totaling 7,850 m, drilled east, west, and north of the 2010
inferred resource area. Of this total, an additional nine holes
await assays and will be reported when results are received.
Assay results of the first eight holes and partial results for
the ninth were previously reported in Press Releases dated
September 12 and October 3, 2011. Assay results are presented here
for the remainder of ICE11048 plus five additional holes: ICE11049,
ICE11053, ICE11055, ICE11056, and ICE11058. These six holes are all
located at the western end of the mineralized zone.
Hole ICE11048 is the northern-most hole at the western end of
the inferred resource area. Assays reported for the remaining 250m
of the hole now broaden the width of gold mineralization from the
previous reported 450m to over 500m.
Hole ICE11056 is a 100m step-out at the western end of the
inferred resource area. Unlike the majority of the other holes in
the area, this hole was composed almost exclusively of
metasedimentary rock, rather than felsic intrusive or a mix of the
two. The hole returned a mineralized intersection of 245m,
re-affirming that mineralization is not constrained solely to the
intrusive lithologies.
All sample preparation and fire assaying work has been performed
by Eco Tech Laboratory Limited ("Eco Tech") in Kamloops, British
Columbia. Eco Tech is an ISO 9001:2008 accredited laboratory and
subsidiary of the Stewart Group of worldwide laboratories. Initial
fire assay with atomic adsorption finish is completed for all
samples. Those samples running greater than 1g/t Au are
automatically rerun. Those samples assaying in excess of 3g/t Au
are rerun using a gravimetric finish. In addition to the internal
laboratory controls, the Company inserts two revolving standards in
3% of the samples, inserts blanks in 4% of the samples, and a
duplicate sample is resplit every tenth sample. Results reported
herein have been checked and have undergone quality control
review.
About AM Gold Inc.
AM Gold Inc. is a publicly held resource company based in
Vancouver, Canada. The Company is listed on the TSX Venture
Exchange under the symbol "AMG" and is quoted on the Frankfurt
Exchange under the symbol "AMX". The Company is focused on creating
shareholder value through the development of the Company's gold and
gold-copper projects in the Yukon and Peru while building a
portfolio of quality pipeline projects in North and South America.
The Company's Red Mountain gold property is located in central
Yukon Territory approximately 55 kilometres northwest of the
community of Mayo in the Tintina Gold Belt. The Company's Red
Mountain gold property consists of approximately 3,600 hectares of
contiguous quartz claims. 52 of such quartz claims (1,168 hectares)
are held 80% by the Company with an option to acquire 100%
ownership and are subject to a net smelter returns royalty and 131
quartz claims (2,430 hectares) are held 100% by the Company. AM
Gold's Pinaya gold-copper project is located approximately 775
kilometres southeast of the city of Lima, Peru in the Tintaya Gold
Belt. The Company maintains 100% ownership of 35 mining concessions
covering the 19,200 hectare Pinaya land position. AM Gold's
corporate offices are located Suite 605 - 369 Terminal Avenue,
Vancouver, British Columbia, V6A 4C4 (phone: 604-646-0067).
Brian L. Cole, P. Geo., has reviewed the technical disclosure
contained in this news release and is a Qualified Person and is
independent of the Company within the meaning of National
Instrument 43-101 - Standards of Disclosure for Mineral
Projects.
ON BEHALF OF AM GOLD INC.:
John Fiorino, CEO
AM GOLD INC.
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press release are
forward-looking statements and information within the meaning of
applicable securities laws. Forward-looking statements and
information can be identified by the use of words such as
"expects", "intends", "is expected", "potential", "suggests" or
variations of such words or phrases, or statements that certain
actions, events or results "may", "could", "should", "would",
"might" or "will" be taken, occur or be achieved. Forward-looking
statements and information are not historical facts and are subject
to a number of risks and uncertainties beyond AM Gold's control.
Actual results and developments are likely to differ, and may
differ materially, from those expressed or implied by the
forward-looking statements contained in this news release.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to
update publicly or otherwise revise any forward-looking statements,
except as may be required by law.
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: AM Gold Inc. Murray Caruth 1-604-646-0067 604-692-0117
(FAX)mcaruth@amgold.cawww.amgold.ca
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