DGAP-News: Confederation Minerals Ltd.: STEP-OUT DRILLING DISCOVERS MORE HIGH GRADE GOLD AT NEWMAN TODD
(firmenpresse) - DGAP-News: Confederation Minerals Ltd. / Key word(s): Drilling Result
Confederation Minerals Ltd.: STEP-OUT DRILLING DISCOVERS MORE HIGH
GRADE GOLD AT NEWMAN TODD
20.06.2011 / 16:33
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Confederation Minerals Ltd. (TSX-V: CFM, Frankfurt: 070) is pleased to
report the results from the first two drill holes from the
recently-initiated summer phase of our on-going drill program at the Newman
Todd gold property in the Red Lake Gold District, Ontario. Approximately
12,000 meters utilizing two diamond drill rigs are planned in this current
phase, which may be expanded depending on results.
The results of the first two holes, which are wide step-outs from earlier
drilling phases, have returned similar, high-grade gold intersections of
Red Lake-style gold mineralization within a major zone of quartz-carbonate
alteration localized by a regional-scale, through-going zone of shearing
and becciation (the Newman Todd Zone or NTS). Both holes (NT-062 and
NT-063) were drilled from the same setup, oriented perpendicular to the
elongate trend of the NTS, with NT-063 the steeper hole of the two,
oriented to intersect the anticipated gold-bearing structures at a deeper
level.
Results as high as 18.25 g/t gold over a 5.0 meter core interval, which
includes a 2.7 meter interval grading 32.43 g/t gold and including an
extremely high-grade 0.7 meter interval of 103.0 g/t gold were intersected
in the shallower of the two holes, NT-062. As is the case with many other
high-grade gold intersections at Newman Todd, this intersection was
returned from an interval of just 170 to 175 meters, even shallower in
terms of true depth below surface given fact that all drill holes are
angled. Therefore, gold mineralization at Newman Todd is being discovered
at relatively shallow depths below surface.
In addition to the assay results reported above, many very highly-anomalous
intersections were reported from both holes, all of which are tabulated in
the table below. Examples include: 5.32 g/t gold over 19.0 m (hole NT-062);
8.86 g/t gold over 1.0 m (hole NT-062); 27.30 g/t gold over 0.5 m (hole
NT-063; and 8.11 g/t gold over 0.5 m (hole NT-063). As shown in the table,
24 separate intervals assayed between approximately 2.0 and 8.0 g/t gold.
The overall anomalous nature of hole NT-062 can be further illustrated by
the fact that a 63.0 meter long interval averaged 1.65 g/t gold. These
lower-grade intersections may indicate the presence of nearby, higher-grade
zones of gold mineralization.
The high grade, 103 g/t gold assay reported above is the highest-grade gold
intersection returned from drilling outside of what has been referred to as
the Heath Bull Zone, along the same structural-alteration zone,
approximately 600 meters to the SW.
These results have been returned from the first two holes (NT-062 and
NT-063) of the recently-initiated summer drilling program which will
comprise at least 12,000 additional meters targeting a 2 km-long zone of
alteration and deformation within the NTS. They reflect the results of two
holes, both drilled from the same collar location but at different angles,
as wide step outs distant from earlier holes which have returned similar
high-grade gold values. The two holes are located approximately 170 meters
northeast of what has previously been referred to as the Hinge Zone and 120
meters southwest of what has previously been called the NE Breccia in an
area between two gold-bearing zones where no previous information has
previously been gathered.
A map showing the location of holes NT-062 and NT-063, along with all
previous holes drilled at Newman Todd, can be viewed on the Company's web
site at www.confederationminerals.com. The website also lists all
significant assay results from previous drilling and the major
characteristics of the property geology as well as all previous news
releases.
Lawrence Dick, Ph.D., P.Geo., states: We are very excited to continue to
intersect high-grade gold in a classic Archaean, mesothermal gold
environment, similar in many aspects to those of the world-class deposits
in northern Canada and elsewhere. We have not failed to intersect gold
mineralization in any of the 63 holes drilled to date. Sufficient data is
now becoming available to begin modeling the continuity of the various vein
systems in the NTS, over which we have now intersected gold over a 2.2
kilometer strike length. Both lateral and vertical continuity of the
various mineralized zones, principally hosted by quartz-magnetite
accumulations in sub-vertical structures, are beginning to be recognized.
The two holes NT-062 and NT-063 were very wide step-outs from
previously-known gold-bearing holes (see below) and the fact that we have
intersected significant mineralization indicates that we are more likely
beginning to demonstrate a zone, approximately 2 km long, that is
mineralized from one end to the other. Our earlier concept of 'zones' was
purely a matter of where earlier drills were collared. Mineralization,
confined to one large and continuous zone of quartz-carbonate alteration
and structural deformation, appears nearly identical from hole to hole over
the entire 2.2 km strike length of the NTS adding to the current concept
that the mineralized zone may be continuous along the entire strike of the
zone. Our program of step-out drilling is showing our team that we have the
potential for a mineralized system which may be much more continuous than
we considered when much less information was available. We look forward to
continuous results from our two-drill program throughout the summer; one
drill expanding on known mineralized sectors, while the second drill
continues step-outs along strike of the NTS at approximately 100 meter
spacings'.
Gold mineralization at Newman Todd occurs within sulphide-magnetite
replacement zones and along contacts with mafic and felsic volcanic units
within the NTS. Lower-grade zones of gold mineralization described above
also occur within wide areas of the same sulphide-magnetite style of
replacement. At present high grade zones are believed to be steep to
north-west dipping zones of focused fluid movement along faults, contacts
and within high sulphide-magnetite zones. For example, the high-grade
intercept in Hole NT-062 occurs approximately 50 meters vertically above
the highest grade intercept encountered in hole NT-063 indicating, along
with numerous other examples, a vertical continuity to the mineralization.
The exploration at Newman Todd is being funded by Confederation Minerals
Ltd. who is optioning the project from Redstar Gold Corp. (TSX-V: RGC).
Confederation can earn a 50% interest in the project by spending $5.0
million in exploration within three years, and an additional 20% by
producing a Preliminary Economic Assessment (PEA) within six years. The
current work program (summer 2011) includes 12,000 meters of drilling
utilizing two drills. One drill is focusing on following known
mineralization with 25 to 50 meter step-outs while the second drill is
testing the two kilometer strike of the Newman Todd Structure (NTS) on 100
meter step-outs.
Table of Significant Assay Results from Newman Todd Holes NT-062 and NT-063
Hole From (m) To (m) Au (g/t) Width (m)
NT-062 30.00 31.00 2.19 1.00
NT-062 and incl. 161.00 180.00 5.32 19.00
NT-062 incl. 170.00 175.00 18.25 5.00
NT-062 and incl. 171.00 173.70 32.43 2.70
NT-062 and incl. 173.00 173.70 103.00 0.70
NT-062 and incl. 178.00 179.00 6.51 1.00
NT-062 222.00 251.00 1.05 29.00
NT-062 incl. 232.50 245.30 1.67 12.80
NT-062 and incl. 232.50 233.00 4.01 0.50
NT-062 and incl. 234.50 235.00 5.10 0.50
NT-062 and incl. 239.50 240.00 4.68 0.50
NT-062 and incl. 284.00 285.00 2.69 1.00
NT-062 and incl. 299.50 300.00 6.44 0.50
NT-062 and incl. 306.00 306.50 3.56 0.50
NT-062 and incl. 320.00 335.00 2.16 15.00
NT-062 incl. 323.00 325.00 4.85 2.00
NT-062 and incl. 323.00 324.00 6.89 1.00
NT-062 and incl. 329.00 332.00 5.56 3.00
NT-062 and incl. 329.00 331.00 6.85 2.00
NT-062 and incl. 330.00 331.00 8.86 1.00
NT-063 213.00 213.50 27.30 0.50
NT-063 and 227.00 228.00 2.17 1.00
NT-063 and 233.00 234.00 3.11 1.00
NT-063 and 243.50 244.00 8.11 0.50
NT-063 and 286.00 291.00 1.98 5.00
NT-063 incl. 288.00 289.00 7.66 1.00
NT-063 and 301.16 317.00 1.35 15.84
NT-063 incl. 302.70 305.50 3.76 2.80
NT-063 and incl. 304.00 304.50 5.96 0.50
NT-063 and incl. 305.00 305.50 6.33 0.50
NT-063 and incl. 309.00 309.50 5.09 0.50
NT-063 and incl. 316.00 317.00 5.85 1.00
NT-063 and 354.00 360.00 1.90 6.00
NT-063 incl. 356.00 359.00 2.95 3.00
NT-063 and incl. 358.00 359.00 3.51 1.00
NT-063 and incl. 356.00 357.00 3.06 1.00
Bob Singh P.geo is the qualified person as defined by National Instrument
43-101 and has reviewed this news release. Mr. Singh is the Canadian
Exploration Manager for Redstar Gold Corp. Core samples from the program
were cut in half using a diamond cutting saw and were sent to Activation
Laboratories Ltd. in Red Lake Ontario, an accredited mineral analysis
laboratory in Red Lake, Ontario for analysis. All samples were analyzed
for gold using standard Fire Assay-AA techniques. Samples returning over
3.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric
methods. Certified gold reference standards, blanks and field duplicates
were routinely inserted into the sample stream as part of Redstar's quality
control/quality assurance program.
About Confederation Minerals Ltd.
Confederation Minerals Ltd. is a British Columbia based company engaged in
the business of acquisition, exploration and development of mineral
properties. Its objective is to locate and develop economic precious and
base metals properties of merit. Confederation Minerals Ltd. holds an
option agreement to acquire up to 70% of the Newman Todd project in the Red
Lake Mining District of Northern Ontario as well as 100% ownership in two
other properties in the Red Lake Mining District of Ontario.
On Behalf of the Board,
Confederation Minerals Ltd.
'Lawrence Dick'
Lawrence A.Dick, Ph.D., P.Geo
President, CEO, and Director
CORPORATE INQUIRIES
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Lawrence Dick, President
Phone: +1 (604) 688 9588
lawrence.dick(at)barongroupintl.com
www.confederationmineralsltd.com
Forward-Looking Information
This release includes certain statements that may be deemed
'forward-looking statements'. All statements in this release, other than
statements of historical facts, that address events or developments that
the Company expects to occur, are forward-looking statements.
Forward-looking statements are statements that are not historical facts and
are generally, but not always, identified by the words 'expects', 'plans',
'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential'
and similar expressions, or that events or conditions 'will', 'would',
'may', 'could' or 'should' occur. Although the Company believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in the
forward-looking statements. Factors that could cause the actual results to
differ materially from those in forward-looking statements include market
prices, exploitation and exploration successes, and continued availability
of capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and opinions
of the Company's management on the date the statements are made. Except as
required by applicable securities laws, the Company undertakes no
obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should
change.
End of Corporate News
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129170 20.06.2011
Datum: 20.06.2011 - 16:33 Uhr
Sprache: Deutsch
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