Paget Drills 91 Meters at 0.76g/t Gold at the Rainbow Target, Ball Creek Project
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/12/12 -- Paget Minerals Corp. (TSX VENTURE: PGS), ("Paget" or the "Company") today announced significant drill results from the Rainbow Gold Porphyry Target within the Ball Creek Project located in the Golden Triangle - Iskut Mineral District, northwest BC (to view maps visit: ).
Two drill holes (totaling 325.1m), the first holes ever drilled at Rainbow, collared on the same drill pad intersected:
David Volkert, President and CEO, stated, "The Rainbow Porphyry discovery adds significant dimension to the considerable, overall potential of Paget's priority Ball Creek Project. Follow-up drilling at Rainbow will be initiated in Summer 2012. A comprehensive overview of all the targets within and exploration plans for the Ball Creek Project will be reported within the next week."
Steeply-dipping, sheeted and banded quartz veinlets and magnetite veinlets closely resembling the banded veins that occur at the top of gold porphyries in Maricunga, Chile, host the mineralization. The high Au:Cu ratio, anomalous Ag, Zn halo (average 473ppm in Rainbow) and lack of alteration selvages at Rainbow are also indicative of Maricunga-style mineralization. The banded veining, hosted in andesite volcanics and volcanic breccias, is found on surface over only a very small area in a large moraine-filled depression and the drill intercept in RN-11-01 is much wider than outcropping mineralization. The intercepts above represent the first holes ever drilled at Rainbow and more drilling is required and planned.
About Paget Minerals Corp.
Paget Minerals Corporation is a publicly traded resource company focused on mineral exploration and the advancement of the company's priority Ball Creek Project, in British Columbia. The company hosts a 47,200-hectare, contiguous mineral tenure package in the Iskut Mineral District located just 8km west of Highway 37 and only 36km northwest of the new Northwest Transmission Line Substation at Bob Quinn and neighbors three major mine development projects in the Golden Triangle - Galore Creek, Shaft Creek and Red Chris. In 2012, Paget will focus its BC exploration program on the Ball Creek Project, as well as advancing its exploration in Mexico. Paget also maintains its equity position in Trident Gold Corp. exploring for gold in Colombia.
On Behalf of the Board of Paget Minerals Corp.,
David F. Volkert, President & CEO
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:
Paget Minerals Corp.
David Volkert
President & CEO
(778) 327-4449
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Datum: 12.01.2012 - 14:30 Uhr
Sprache: Deutsch
News-ID 103635
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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