Archean Star (TSXV:ASP) Announces Multiple Gold Intersections from Drill Hole TB006 at Turnberry Gold Prospect at Gnaweeda Gold Project in Western Australia - Video Posted on www.investmentpitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, February 7, 2012 - Archean Star (TSXV:ASP)
announced multiple gold intersections contained within a 41 metre interval in
diamond drill hole TB006 at the company's Turnberry gold prospect at its
Gnaweeda Gold Project in Western Australia.
InvestmentPitch.com has produced a "video news alert" about Archean Star. If
this link is not enabled, please visit www.InvestmentPitch.com and enter
"Archean Star" in the search box.
Gnaweeda hosts several gold prospects on two contiguous tenements over a 28
kilometre strike length of highly prospective rocks in the Archean-age Gnaweeda
Greenstone Belt.
The current program is on the southernmost of the three earlier identified
higher grade gold zones within the main 2.5 kilometre by 750 metre Turnberry
zone. The highest gold grade reported in drill hole TB006 was a 2 metre
intersection from 69 to 71 metres that averaged 10.58 grams per tonne gold. A
second 3 metre intersection from 107 to 110 metres averaged 6.70 grams per tonne
gold.
Drill hole TB006 was collared approximately 50 metres north of Teck Australia's
drill hole GNRC009 that recorded a 4 metre intercept at 17.70 grams per tonne
gold, including 1 metre at 59.27 grams per tonne.
Archean Star recently reported 3 metres of 8.27 grams per tonne gold from hole
TB003, approximately 25 metres south of Teck's GNRC008 drill hole, which had
previously reported 5 metres at 13.49 grams per tonne gold, including 1 metre of
20.23 grams per tonne.
Archean Star, through its wholly owned Australian subsidiary, has an option to
earn 100% of Teck Australia's interest in Chalice Gold Mines' Gnaweeda Gold
Project, subject to a 75% back in right, and expects to complete the earn-in by
expending $3 million Australian by the end of the first quarter of 2012.
The approximately 170 square kilometre Gnaweeda Gold Belt is located in the
northeast of the highly prolific Murchison Greenstone Gold Belt where
historically more than 18 million ounces of gold have reportedly been produced.
Another, approximately 7 million ounces of gold resources have reportedly been
identified during recent exploration and historical resource evaluations.
The Gnaweeda Gold Belt is substantially unexplored, with diamond drilling
conducted on only 2 of its 4 identified gold prospects.
The company believes the property has the potential to host similar size gold
deposits to the nearby Meekatharra gold field, that historically produced
approximately 3.5 million ounces of gold and has current reported resources of
approximately 3.29 million ounces of gold.
Gnaweeda lies approximately 10 kilometres to the south-east of Australian
Exchange listed Doray Minerals 329,000 ounce Andy Well prospect.
Back in April 2011, Archean Star was spun off from Kent Exploration Inc, which
trades on the TSX Venture Exchange under the symbol KEX. Kent holds
approximately 10 million shares or 22% of the outstanding shares of Archean
Star.
Archean Star trades at $0.07.
For more information about Archean Star please visit their website
www.archeanstar.com,, or contact President & CEO, Graeme O'Neill at
604-684-3394, or by email at go(at)archeanstar.com.
InvestmentPitch.com is a multimedia company that provides a combined solution
for creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals. InvestmentPitch.com
specializes in producing short three minute videos based on news releases and
research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 07.02.2012 - 22:15 Uhr
Sprache: Deutsch
News-ID 112173
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