Stay Gold Inc Announces Diamond Drilling at Its Flagship Harrigan Cove Gold Project
(firmenpresse) - HALIFAX, NOVA SCOTIA -- (Marketwire) -- 09/27/12 -- Stay Gold Inc. ("Stay Gold" or the "Corporation") is pleased to announce the start of a 750 metre diamond drilling program at its flagship Harrigan Cove gold project. The program will consist of four diamond drill holes, designed to test target areas for gold mineralization.
Two drill holes have been designed to 1) locate a projected anticlinal structure where gold bearing saddle reef style structures are projected to occur and 2) drill test the structure(s) for potential saddle reef style gold mineralization. This structure is distinct from the known gold zones located in the southern area of the property. This area, to the knowledge of the Corporation, has never been drill tested.
The final two drill holes are designed to 1) test the potential for a western extension of the eight (8) gold bearing structures identified through previous drilling and 2) twin a historic drill hole to continue building confidence in the historically reported data and validate the corporation's gold distribution model for the purposes of developing NI 43-101 complaint resources.
This drilling program has been recommended by the author of the Corporation's Technical Report, as dated February 15, 2012. This report is available via
Brendan Matheson, President and CEO, stated "these targets have been developed to potentially prove and expand the gold mineralization in our eight established gold zones, as well as to locate and potentially discover a new gold system at our Harrigan property".
As previously announced in the Corporation's News Release dated August 28th, this program is being partially funded by an 'Advanced Project Grant' awarded to Stay Gold under the Nova Scotia Department of Natural Resources' recently initiated 'Mineral Incentive Program'.
Lyndon Jensen, P.Geo, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
STAY GOLD INC.
About Stay Gold:
Stay Gold Inc. is a gold focused exploration company with a portfolio of high potential gold prospects. The Corporation's strategic land position, located in the historic gold producing region of Nova Scotia, provides a platform for expedient resource development and new discoveries.
The Corporation's securities are not listed on any stock exchange and no stock exchange has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information:
"This press release includes "forward-looking information" including statements that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Corporation. All statements in this release, other than statements of historical facts, that address future exploration programs, exploitation activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes that the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Contacts:
Stay Gold Inc.
Brendan Matheson
President and CEO
(902) 832-1137
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Unternehmensinformation / Kurzprofil:
Datum: 27.09.2012 - 19:45 Uhr
Sprache: Deutsch
News-ID 187589
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contact information:
Town:
HALIFAX, NOVA SCOTIA
Kategorie:
Mining & Metals
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