Mill Bay Ventures Plans Deep Drilling on Valentine Mountain Discovery Zone
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/12/11 -- Mill Bay Ventures Inc. (TSX VENTURE: MBV)(PINK SHEETS: MLBVF)(FRANKFURT: M4K) -
The Valentine Mountain claims, located 40 miles west of Victoria on southern Vancouver Island, cover approximately 7,084 acres (2,867 hectares) along a trend estimated to be 7 km long and 0.5 km wide. The property hosts an inferred mineral resource, known as the 'C' and 'B' veins of the Discovery Zone, with a resource estimate of 55,105 tonnes grading 16.3 grams/tonne, equivalent to 0.475 opt Au (NI 43-101 compliant, see for technical report by Jacques Houle, P.Eng, April, 2011). The claims also host at least six additional gold-bearing quartz-sulphide vein occurrences, which are part of a 7 km long 'gold corridor' extending west from West Leech R to Jordan R.
Deep drilling is planned to intersect the 'C' and 'B' vein depth extension at 250-400 m depth (collar locations greater than 200 m from surface showings, drilling 500 m inclined holes). The objective of the deep drilling is to expand present inferred resource totals for the Discovery Zone.
The results are based on analysis of split core sampling, supervised by Andris Kikauka. P.Geo., the Company's Qualified Person for the Property. The split core samples were analyzed by ALS Minerals, North Vancouver, BC (Certificate VA11101001).
Further evaluation of gold bearing mineralization in depth and lateral extensions of the Discovery Zone, as well as detailed surface sampling and mapping of the middle and upper BN Zone are planned for Valentine Mountain.
The contents of this news release have been reviewed by Andris Kikauka, P.Geo, a Qualified Person under NI 43-101 guidelines, responsible for reporting geological and geochemical results from the Valentine Mountain Gold Project.
ON BEHALF OF THE BOARD
William Glasier, President
This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Shares issued: 20,246,539
Last Trading Price: $0.10
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this release.
Contacts:
Mill Bay Ventures Inc.
Darryl Glasier
604-682-3701
604-682-3600 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 12.10.2011 - 16:21 Uhr
Sprache: Deutsch
News-ID 75434
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 159 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Mill Bay Ventures Plans Deep Drilling on Valentine Mountain Discovery Zone"
steht unter der journalistisch-redaktionellen Verantwortung von
Mill Bay Ventures Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
