Golden Share Highlights Potential 4 km Extension to Band Ore Zone n°4 in Shebandowan Belt
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 04/11/12 -- Editors Note: There is a figure associated with this press release.
Golden Share Mining Corporation ("Golden Share" or the "Company") (TSX VENTURE: GSH) is pleased to provide an update on the Conacher sector of its Shebandowan Gold Project ("SGP") located 90 km west of Thunder Bay, in Northwestern Ontario, Canada.
Highlights:
For additional details on the above highlights please see the figure "Conacher Corridor" at the following link: (the figure is also available at: http://www.goldenshare.ca).
President and Chief Executive Officer Philippe Giaro commented:
"As we keep improving our understanding of the project and we continue to work with our rock data base of last summer, we are able to design effective tools to model the mineralization. Silver appears to be a good pathfinder and has helped us recognize important alteration zones. It is remarkable that a single exploration hole drilled 2 km away from Band Ore's Zone 4 historical resources would hit two mineralized intercepts in an altered and sheared sequence with similar lithologies. The confirmation of this model opens up an entire new area to systematic exploration and will be the object of further detailed work during the 2012 summer surface campaign."
Golden Share's hole CO-11-01 was drilled to a depth of 254 m to test the Z4C trend. The exact positioning of Golden Share's hole was motivated by historical information, namely a gold in humus anomaly and previous drill hole GW 81-4 which yielded broad gold envelopes. While the precise location of historical hole GW 81-4 could not be established, it prompted Golden Share to further test the potential of the area. The following mineralized intervals were obtained in historical hole GW 81-4 :
Golden Share's CO-11-01 is entirely sheared, intensely altered and consists mostly in an alternating pyroclastic sequence comprising fine to medium sized intermediate to mafic tuffs which are locally strongly pyritized. The following mineralized intervals were obtained in hole CO-11-01:
The geological sequence observed in hole CO-11-01 is similar to that observed in BO-11-09 drilled by Golden Share 2 km to the east on Band Ore's Zone 4 which also consists in a sheared and altered coarse pyroclastic sequence of intermediate to mafic tuffs (see press release dated February 20th 2012). Of particular interest is the hosting of the mineralization in sheared lapilli tuffs in both CO-11-01 and BO-11-09 suggesting continuity along the Z4C trend.
About the drilling program
The drilling is performed at high angle to the mineralized structures and the above intersections represent near true widths. Individual samples weighting 3kg on average have been taken from sawn half core at +/- 1 meter intervals in the mineralized zones with consideration of the geological contacts. A rigorous QA/QC program involves the random inclusion of mineralized standards, duplicates and blanks at the sample collection and preparation stage. The samples are shipped to the ALS laboratory in Thunder Bay, Ontario, for analysis by fire assay on 50g pulp samples. The sample preparation procedure involves the crushing of the entire 3kg sample followed by quartering to obtain a representative 250g sample which is entirely pulverized and out of which a 50g sample is isolated for analysis by fire assay. Samples suspected to contain visible gold or higher grade mineralization are assayed using the metallic sieve technique on a 1000g sample.
About the Shebandowan Gold Project (SGP)
The SGP is located 90 km west of Thunder Bay, north-western 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., a Canadian 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.
FOR MORE INFORMATION, CONSULT : OR OUR FACEBOOK PAGE AT: http://www.facebook.com/people/Golden-Share/100001472712018.
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:
Golden Share Mining Corporation
Philippe Giaro, President & CEO
1-514-866-4224 or 32-473-52-30-29
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Datum: 11.04.2012 - 14:27 Uhr
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