Golden Share Initiates Phase Two of Diamond Drilling on Band Ore Main Target in Shebandowan Belt
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 02/29/12 -- Golden Share Mining Corporation ("Golden Share" or the "Company") (TSX VENTURE: GSH) is pleased announce the start-up of a follow-up diamond drilling program on the Band Ore Main target of its Shebandowan Gold Project ("SGP") located in Northwestern Ontario, Canada.
The Phase 2 diamond drilling program will consist in 7 holes totalling 1,100 m and is designed to refine Golden Share's emerging model for the Band Ore area which suggests the stacking of sub-parallel mineralized zones at the property scale.
This model is being developed with supporting evidence from the 2011 SGP work program which includes information obtained from the compilation of historical data, geological mapping, structural analysis, high resolution resistivity and chargeability surveys as well as recent drilling results on the Band Ore Main South Zone, located approximately 100 m to the south of the Band Ore Main Zone, where Golden Share recently announced the following positive initial drill results :
- 17.85 g/t Au over 2.70 m from 33.00 to 35.70 m (including 47.70 g/t Au over 1.00 m)
- 2.80 g/t Au over 5.50 m from 62.50 to 68.00 m (including 35.90 g/t Au over 0.30 m)
- 1.39 g/t Au over 1.70 m from 73.00 to 74.70 m
The Phase 2 drilling program is expected to be completed by mid-April. Additional results are still pending from the Phase 1 drilling program on the Band Ore Main target.
About the Shebandowan Gold Project (SGP)
The SGP is located 90 km west of Thunder Bay, Northwestern Ontario, in the Rainy River - Atikokan - Shebandowan emerging gold province where Osisko Mining Corporation is currently developing the 10.52 M oz Au Hammond Reef gold deposit 100 km to the West of the Company's project. The SGP is serviced by a railroad line, a high tension power line and the Trans-Canada highway all providing excellent infrastructure to the project.
About Golden Share Mining Corporation
Golden Share Mining Corporation is a Canadian-based mining exploration company developing a promising portfolio of properties in the greenstone belts of eastern Canada, namely in the Val d'Or-Malartic, Red Lake and Shebandowan areas.
Lake Shore Gold Corp., an emerging gold producer, holds a strategic 27.2%(i) interest in Golden Share which is led by a technically focused management team strengthened by an experienced board of directors and a proven advisory board including successful geologists Roy Corrans and Sethu Raman as well as seasoned financier Anthony Frizelle.
Golden Share's development strategy involves advancing a well balanced portfolio of gold properties in a politically stable environment with a history of gold endowment through systematic exploration, resource definition and acquisitions. Highlights of the current portfolio include:
Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a "Qualified Person" as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.
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Contacts:
Golden Share Mining Corporation
Philippe Giaro, President & CEO
1-514-866-4224
32-473-52-30-29
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Datum: 29.02.2012 - 14:30 Uhr
Sprache: Deutsch
News-ID 120055
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MONTREAL, QUEBEC
Kategorie:
Mining & Metals
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