DGAP-News: Confederation Minerals Ltd.: NEWMAN TODD - HIGH GRADE DRILL RESULTS CONTINUE - 58.88 g/t gold / 1.0m including 117.0 g/t gold / 0.50m
(firmenpresse) - DGAP-News: Confederation Minerals Ltd. / Key word(s): Drilling Result
Confederation Minerals Ltd.: NEWMAN TODD - HIGH GRADE DRILL RESULTS
CONTINUE - 58.88 g/t gold / 1.0m including 117.0 g/t gold / 0.50m
16.08.2011 / 17:29
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Confederation Minerals Ltd. (TSX-V: CFM) (Frankfurt: 070) is pleased to
report results from the on-going, two-drill program at the Newman Todd
property in the Red Lake Gold District, Ontario. High-grade gold results
continue to be returned from the drilling over a strike length of greater
than two kilometers within the Newman Todd zone of alteration and
structural deformation which hosts the gold-bearing structures.
Highlights from the recent results (five holes) include Hole NT-067 which
returned multiple zones of high grade gold. The first zone contained 58.88
g/t gold over 1.0 metres, including 117.0 g/t gold over 0.5 metres, in a
new area located approximately 175 metres northeast of the centre of the
Heath Bull Zone where previous drilling has intersected up to 42.84 g/t
gold over 3.0 metres, including 122.0 g/t gold over 1.0 metres (see news
release dated March 14, 2011).
Complete results to date, and maps showing drill hole locations as well as
Zones of highest grade mineralization, can be found on Confederation's web
site at www.confederationmineralsltd.com.
Significant intersections returned from recently completed drilling
include:
* NT-064: intersected 8.25 g/t gold over 1.0 metres including 15.10 g/t
gold over 0.50 metres;
* NT-067; intersected 58.88 g/t gold over 1.0 metres including 117.0 g/t
gold over 0.50 metres; and 2.08 g/t over 29.0 metres including 5.98 g/t
gold over 5.0 metres and including 19.3 g/t gold over 1.0 metres.
* NT-068 intersected 7.88 g.t gold over 1.0 metres including 14.30 g/t gold
over 0.50 metres
* A complete list of significant intersections from the latest round of
drilling is shown in the table below.
Highlights of the program to date, which includes 57 drill holes completed
include;
* The drilling continues to intersect high grade gold along the entire
Newman Todd Structure ('NTS') which traverses the Newman Todd property for
over two kilometers; the NTS is a zone of intense quartz-carbonate
alteration which exhibits internal deformation and mineralization hosted by
through-going structural zones. Gold mineralization is accompanied by
magnetite, pyrrhotite, sphalerite and galena in quartz-sulphide-rich
structures within the NTS:
* 2011 drilling has returned some of the highest grade gold values ever
drilled on the property (>100 g/t in 3 of the 13 holes released so far in
2011);
* The gold-hosting NTS zone remains open both along strike and at depth.
Current drilling is only testing to a vertical depth of approximately 400
metres, a very shallow depth when compared to the vertical extent of
mineralization at most Archaean, greenstone-hosted gold deposits;
* A total of 57 holes have been drilled into the NTS since 2005. Of these,
results of 40 holes have been released and all have intersected gold
mineralization. The remainders of the holes (currently 17) are in the
laboratory and results are pending.
The current work program includes 12,000 metres of drilling utilizing two
drill rigs. One rig continues to drill fans of holes along the entire NTS
whilethe second rig is carrying out closer-spaced step-outs from known
high-grade zones to determine the lateral and vertical continuation
characteristics of the gold mineralization.
To date, a total of 30 holes have been completed during this phase of
drilling which began during the winter of 2011. Previously, the results of
eight holes were reported in Confederation's news releases. This current
release reports on an additional five holes within the south-western part
of the Newman Todd Structure ('NTS'). There are currently 17 completed
holes awaiting analysis in the laboratory, all of which have intersected
the NTS.
Table showing significant results for drill holes NT 64 to NT 68
Hole From (m) To (m) Width* (m) Gold (g/t) Section**
NT-064 84,50 85,50 1,00 8,25 1425
NT-064 incl. 85,00 85,50 0,50 15,10 1425
NT-064 and 302,00 303,00 1,00 3,59 1425
NT-065 295,00 297,00 2,00 3,21 1550
NT-065 incl. 296,50 297,00 0,50 6,93 1550
NT-065 362,00 364,00 2,00 4,38 1550
NT-065 incl. 362,00 363,00 1,00 6,91 1550
NT-066 and 361,50 365,00 3,50 2,55 1425
NT-066 incl. 361,50 362,00 0,50 6,85 1425
NT-066 and 364,50 365,00 0,50 7,33 1425
NT-067 164,00 165,00 1,00 58,88 1550
NT-067 incl. 164,00 164,50 0,50 117,00 1550
NT-067 incl. 164,50 165,00 0,50 0,76 1550
NT-067 and 175,00 176,00 1,00 5,56 1550
NT-067 incl. 175,50 176,00 0,50 9,70 1550
NT-067 292,00 321,00 29,00*** 2,08 1550
NT-067 incl. 292,00 296,00 4,00 3,20 1550
NT-067 a. incl. 294,00 295,50 1,50 6,66 1550
NT-067 a. incl. 294,00 294,50 0,50 8,00 1550
NT-067 a. incl. 295,00 295,50 0,50 9,39 1550
NT-067 a. incl. 300,50 301,00 0,50 5,32 1550
NT-067 a. incl. 316,00 321,00 5,00 5,98 1550
NT-067 a. incl. 317,00 321,00 4,00 7,34 1550
NT-067 a. incl. 317,00 318,00 1,00 19,30 1550
NT-067 a. incl. 320,00 321,00 1,00 8,63 1550
NT-067 a. incl. 320,50 321,00 0,50 11,30 1550
NT-067 a. 324,00 325,00 1,00 4,08 1550
NT-067 a. 405,50 406,50 1,00 3,76 1550
NT-067 incl. 406,00 406,50 0,50 5,91 1550
NT-068 202,00 203,00 1,00 7,88 1325
NT-068 incl. 202,00 202,50 0,50 14,30 1325
* Width is calculated as core length and does not imply true width of the
zone. Weighted average gold intervals apply a 0.25 g/t lower cut-off.
Internal dilution within reported intervals does not exceed core lengths of
two metres unless otherwise indicated.
** Cross sections are spaced 25 metres apart across the entire NTS, Section
1375 marks the centre of the Heath Bull Zone.
*** includes 5.0 metres of 0.12 g/t gold internal dilution.
Lawrence Dick, Ph.D., P.Geo, President and CEO of Confederations Minerals
Ltd. states: 'Drilling at Newman Todd continues to return high grade
results along the entire length of the NTS within the property limits. With
significant gold values along a strike length of over 2 kilometers and to
depths of over 300 metres, we are very optimistic about the future of the
project and the possibility of demonstrating continuity in both the lateral
and vertical dimensions. For examples, drilling along Section 1550
(approximately 175m NE of the centre of the Heath Bull Zone) has returned
the second-highest-grade individual assay on the property. As we continue
to drill both along strike and step out laterally and vertically below
known areas of gold mineralization, we continue to be impressed by the
overall gold grades being intersected within the NTS. While there are
approximately 3000 metres of drilling remaining in this planned phase of
work, which is anticipated to be completed by the end of September 2011,
the success of the program and the potential indicated by results to date,
justifies continued drilling. Preparations are currently underway to
continue drilling into fall and winter of 2012 with two drills. It is
anticipated that an additional 10,000 metres will be completed early in
2012.'
Geological Discussion of Results
Holes NT-065 and NT-067 were drilled on Section 1550, which is
approximately 175 metres northeast of the center of the Heath Bull Zone
(refer to Confederations's web site for geographic locations). This
section is approximately 200 metres southwest of the Hinge Zone and remains
open in both directions and at depth. The geological characteristics of the
mineralization in these holes are similar to other gold-bearing intercepts
across the property, reinforcing the potential predictability of high-grade
gold within the NTS. At present, gold mineralization has been identified in
silicified zones, sulphide and magnetite replacement zones, near
lithological contacts and within quartz veins. Technical crews have been
able to identify several field relationships which may assist with
identifying gold-bearing structures for future drill hole targeting, such
as:
* Wide spread deformation within the NTS (brecciation, hydrothermal
alteration, faulting and folding;
* Wide spread iron-magnesium carbonate alteration (recognized in the Red
Lake district as an early stage alteration preceding the major gold
deposition events);
* Multi-stage gold mineralization associated with hydrothermal events
(silicification, sulphide / magnetite replacement, quartz veining;
* Faulting and folding to further concentrate gold mineralization into high
grade corridors.
Core samples from the program were cut in half using a diamond cutting saw
and were sent to Activation Laboratories Ltd. in Red Lake Ontario, an
accredited mineral analysis laboratory, for analysis. All samples were
analyzed for gold using standard Fire Assay-AA techniques. Samples
returning over 3.0 g/t gold were analyzed utilizing standard Fire
Assay-Gravimetric methods. Certified gold reference standards, blanks and
field duplicates were routinely inserted into the sample stream as part of
Confederation's quality control/quality assurance program.
Bob Singh P.geo is the qualified person as defined by National Instrument
43-101 and has reviewed this news release. Mr. Singh has been engaged
through a third party service provider by Confederation Minerals Ltd. to
manage the project and is also the Canadian Exploration Manager for Redstar
Gold Corp.
About Confederation Minerals Ltd.
Confederation Minerals Ltd. is a British Columbia based company engaged in
the business of acquisition, exploration and development of mineral
properties. Its objective is to locate and develop economic precious and
base metals properties of merit. Confederation Minerals Ltd. holds an
option agreement to acquire up to 70% of the Newman Todd project in the Red
Lake Mining District of Northern Ontario as well as 100% ownership in two
other properties in the Red Lake Mining District of Ontario.
On Behalf of the Board,
Confederation Minerals Ltd.
'Lawrence Dick'
Lawrence A.Dick, Ph.D., P.Geo
President, CEO, and Director
CORPORATE INQUIRIES
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Lawrence Dick, President
+1 604.688.9588
lawrence.dick(at)barongroupintl.com
www.confederationmineralsltd.com
Forward-Looking Information
This release includes certain statements that may be deemed
'forward-looking statements'. All statements in this release, other than
statements of historical facts, that address events or developments that
Confederation Minerals Ltd. (the 'Company') expects to occur are
forward-lookingstatements. Forward-looking statements are statements that
are not historical facts and are generally, but not always, identified by
the words 'expects', 'plans', 'anticipates', 'believes', 'intends',
'estimates', 'projects', 'potential' and similar expressions, or that
events or conditions 'will', 'would', 'may', 'could' or 'should' occur.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may
differ materially from those in the forward-looking statements. Factors
that could cause the actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, and continued availability of capital and financing,
and general economic, market or business conditions. Investors are
cautioned that any such statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected in the forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's management on
the date the statements are made. Except as required by applicable
securities laws, the Company undertakes no obligation to update these
forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
End of Corporate News
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Datum: 16.08.2011 - 17:29 Uhr
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