Mosquito Consolidated Gold Mines Limited (Mosquito) (TSX VENTURE:
MSQ) is pleased to report excellent results from the second hole of
the 2008 diamond drilling program for its Idaho-based CUMO
molybdenum/copper project. The program is under the direction of
Mosquito's Senior Geologist and Director, Dr. Matt Ball, Ph.D.,
P.Geo.
Hole 37-08 is an angle hole (-70) drilled to a depth of 660.8
meters (2195 feet), bearing 335 degrees azimuth from the same site
as hole 28. The hole is designed to fill in a gap in the resource
between holes 27 and 5 and to cross the Cricket Gulch fault (figure
1). Hole 37-08 intersected molybdenum bearing mineralization from
6.1m (20 feet) to 660.8m (2195 feet). Assay results returned
include:
Hole 37-08 642.7 meters (2135.0 feet) grading 0.085% MoS2
(1.21% Cu Eq., 0.107% MoS2 Eq., 1.93 lbs MoO3 Eq./t)
Including 406.4 meters (1350 feet) grading 0.104% MoS2
(1.38% Cu Eq., 0.122% MoS2 Eq., 2.20 lbs MoO3 Eq./t)
The entire core for Hole 37-08 was sampled and cut in half using
a diamond saw. Half the core was sent for analysis and the other
half has been kept and stored at the core facility located on site.
Following cutting, the samples were delivered directly by Mosquito
personnel to either ALS Chemex or SGS Labs, both located in Elko,
Nevada and fully accredited analytical laboratories. They were
first analyzed for 47 elements using a four (4) acid digestion with
analysis by Inductively Coupled Argon Plasma Optical Mass
Spectrometer (ICP-MS). Copper and molybdenum bearing samples were
then checked by using a larger five gram sample and analyzed using
pressed powder pellet X-Ray Fluorescence Spectroscopy (XRF). In
addition, duplicates, blanks, and standards were analyzed to ensure
analytical accuracy and reproducibility. All rejects are being kept
for further analysis and for use in metallurgical testing.
As with previous holes, the drilling of Hole 37-08 has confirmed
the presence of three distinct metal zones within the CUMO deposit.
This zonation was not recognized by the previous operators. The
zones consist of a copper-silver upper zone, a transitional
copper-molybdenum zone and a lower molybdenum zone. Grades from the
three zones are as follows:
Copper-silver zone
Hole 37-08 33.5 meters (110 feet) grading 0.08% cu, 0.019% MoS2,
2.62 gms Ag/T
(0.53% Cu Eq., 0.047% MoS2 Eq., 0.985 lbs MoO3 Eq./t)
Copper-molybdenum zone
Hole 37-08 195.7 meters (650 feet) grading 0.11% cu, 0.05% MoS2,
2.69 Ag/T
(0.95% Cu Eq., 0.085% MoS2 Eq., 1.52 lbs MoO3 Eq./t)
Molybdenum zone
Hole 37-08 426 meters (1415 feet) grading 0.02% cu, 0.102% MoS2,
1.14 gms Ag/T
(1.36% Cu Eq., 0.121% MoS2 Eq., 2.18 lbs MoO3 Eq./t)
Full summary of the analytical results for Hole 37-08 are
outlined below in Table 1. Mineralization consists of copper,
molybdenum, silver, rhenium and gallium. As a result of the
multi-element nature of the mineralization, it was decided to
calculate both a copper and molybdenum equivalent for the
intercepts. Both equivalents are required as the deposit is zoned
as described above. Please see notes below table for explanation of
the calculation of copper equivalent (Cu Equiv.), MoS2 equivalent
(MoS2 Equiv.). The presence of the by-product elements gold,
silver, rhenium, and gallium is very significant in terms of the
development of the property.
The table below lists the location and orientation of the
current drill holes. All holes are being surveyed down the hole
using a Reflex survey instrument.
--------------------------------------------------------------------------
Hole Northing Easting Elevation dip azimuth Length
Number feet feet feet degrees degrees feet
--------------------------------------------------------------------------
35-08 118658.3 220487.4 6534 -90 000 2817 completed
--------------------------------------------------------------------------
36-08 119266.8 219322.9 6457 -90 000 2488 completed
--------------------------------------------------------------------------
37-08 119755.7 221220.4 6341 -70 335 2195 completed
--------------------------------------------------------------------------
38-08 118658.3 220487.4 6534 -70 180 2366 still drilling
--------------------------------------------------------------------------
39-08 118872.7 220777.6 6466 -90 000 2085 still drilling
--------------------------------------------------------------------------
40-08 119539.8 220816.8 6321 -70 225 1977 still drilling
--------------------------------------------------------------------------
41-08 119545.7 219005.8 6247 -90 000 1218 still drilling
--------------------------------------------------------------------------
Hole 37 is a fill-in hole located on the same drill pad as holes
28 and 32 and was designed to cover a large gap in the resource
calculation between hole 27 and old hole 5 (short hole). Hole 36
has been completed and is currently in the assay lab with assay
results available shortly. Hole 38 is currently drilling to extend
the zone further to the south and is almost finished. Drilling is
currently proceeding as planned with one rig (holes 37 and 40)
doing infill drilling, while the other three rigs on site are
currently doing 500 foot step-outs. Two additional rigs are
scheduled to arrive on the property and will be used to follow the
higher-grade core mineralization to the south west. The 2008
program is expected to complete 20 holes, with the results being
used to expand the existing 43-101 resource and to convert the
majority of the current inferred to measured and indicated. The new
resource calculation is expected in the early spring of 2009.
Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Exploration Manager and
Director of Mosquito is the designated qualified person for the
CUMO Project, and prepared the technical information contained in
this news release.
On Behalf of the Board
MOSQUITO CONSOLIDATED GOLD MINES LTD.
Brian McClay, President
About Mosquito Consolidated Gold Mines
Mosquito Consolidated Gold Mines Limited is a mining exploration
and development company with a diverse portfolio of high potential
precious and base metals projects, located in low political risk
environments in North America and Australia. The Company's primary
focus is developing its Idaho-based CUMO project, one of the
world's largest molybdenum deposits, and its Nevada-based Pine Tree
copper-molybdenum-silver project. For more information, please
visit www.mosquitogold.com.
This news release was prepared by management who takes full
responsibility for its contents.
This news release includes certain statements that express
management's expectation or estimates of future performance and may
be deemed "forward-looking statements". These forward-looking
statements include plans, estimates, forecasts and statements as to
management's expectations regarding the CUMO Project. These
forward-looking statements involve assumptions, risks and
uncertainties and actual results may vary materially. For these
reasons shareholders should not place undue reliance on such
forward-looking information.
United States residents are cautioned that some of the
information that may be published by Mosquito may not be consistent
with United States Securities and Exchange Commission disclosure
rules and may be materially different from what the Company is
permitted to disclose in the United States and therefore United
States residents should not rely on such information.
To view accompanying Table 1 and Figure 1, please click on the
following link: http://media3.marketwire.com/docs/cumo0916.pdf
The TSX-Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Mosquito Consolidated Gold Mines Limited Brian McClay
President (604) 689-7902 (604) 689-7816 (FAX) Website:
www.mosquitogold.com
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