F.D.G. Mining Announces New Assay Results from Trenching on the Topacio Concession, Nicaragua
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/16/11 -- F.D.G. Mining Inc. ("FDG" or "Company") (TSX VENTURE: FDG) is pleased to announce new and encouraging results from its second phase trenching program on the Company's Topacio property in Nicaragua. The Company has now received all of the assay results for samples taken from 20 trenches, FT-200 through FT-219, on the Mico and Brasil veins. The Mico and Brasil veins are subparallel to and bracket the Topacio vein on the northwest and the southeast at a distance of one kilometer and 500 meters, respectively. The Topacio vein hosts the Company's NI 43-101 compliant inferred resource of 680,000 tonnes at 5.2 g/t Au and 34 g/t Ag at a 3 g/t Au cutoff for a total of 114,000 oz Au and 743,000 oz Ag (February 3, 2011).
Mr. Daniel Farrell, President and CEO, stated, "These promising assay results from our recent trenching program on the Mico and Brasil vein systems confirm that there is significant gold mineralization on the property in close proximity to the existing resource delineated on the Topacio vein. FDG has only scratched the surface of this exciting exploration project. We look forward to drill-testing both of these mineralized vein systems in the upcoming exploration program expected to begin by the end of November subject to current weather conditions."
Early production in the Topacio district came primarily from the Mico vein. The eight new trenches on the Mico vein test the southwestern extension of the vein beyond the early workings. The Brasil vein has never been mined and has seen only limited exploration.
Highlights from the new assay results include, on the Mico vein from trench FT-200, 5 meters of 5.93 g/t Au and 2.27 g/t Ag. Trench FT-201 on the Mico vein carries 3.5 meters of 6.76 g/t Au and 2.07 g/t Ag. FT-207, located 280 meters to the southwest (of FT-201) along the trend of the vein returned 3 meters of 6.72 g/t Au and 2.11 g/t Ag.
The Brasil vein strikes NE-SW for approximately 2800 meters. With two exceptions, the current trenching covers the southwestern 600 meters of the vein. In that section trench FT-211 returned 12.5 meters of 6.81 g/t Au and 4.69 g/t Ag. Trench FT-214, 275 meters to the southwest, carried 1 meter of 1.54 g/t Au and 2.57 g/t Ag. In a separate interval trench FT-214 produced 2 meters of 9.20 g/t Au and 7.75 g/t Ag. Still on the Brasil vein but 1250 meters to the northeast, trench FT-219 returned 2 meters of 2.46 g/t Au and 0.70 g/t Ag.
The accompanying table lists results greater than 1 g/t Au for the Mico and Brasil vein trenches. Location maps and a complete list of all trench results will be available on the FDG website.
Quality Assurance - Quality Control Procedures
Quality assurance and quality control measures employed in the trench sampling program included insertion of blank, duplicate and certified standard samples in the sample stream. Samples were sealed in bags on site and stored in a secure locked office. The samples were then collected from the project office by Inspectorate and transported to their sample prep laboratory in Managua, where they were prepared and shipped to the Inspectorate assay lab in Vancouver, B.C. The samples were analyzed by fire-assay AA methods for gold and silver, and by 30-element ICP analysis for trace elements. The analytical results received from Inspectorate and disclosed in this news release have been reviewed by Robert Suda, P. Geo., FDG's Vice-President of Exploration and a Qualified Person as defined under NI 43-101.
About F.D.G. Mining Inc. ()
F.D.G. Mining Inc. is a Canadian junior mining company engaged in acquisition, exploration and development of precious metal properties in Nicaragua. The Company is currently focused on advancing its core property, the past-producing 9300 hectare Topacio gold concession. Topacio has an NI 43-101 compliant inferred resource of 680,000 tonnes grading 5.2 g/t gold and 34 g/t silver, and a similar geological setting to B2Gold's La Libertad and El Limon mines to the northwest. FDG trades on the TSX Venture Exchange under the symbol FDG.
On Behalf of the Board of Directors
Daniel Farrell, President and Chief Executive Officer
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. See the cautionary statement "Forward-Looking Statements" and "Risk Factors" in the Company's prospectus dated April 14, 2011 available on SEDAR at . These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. References to historical data and information in this news release are not National Instrument 43-101 ("NI 43-101") compliant and should not be relied upon for evaluation purposes. The Company uses historical data and information solely as a guide to future exploration and development activities. The technical disclosure in this news release has been prepared by or under the supervision of Robert Suda, P. Geo., the Vice-president of Exploration of the Company and a Qualified Person as defined by NI 43-101 of the Canadian Securities Administrators.
Neither the 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 news release.
Contacts:
F.D.G. Mining Inc.
Casey Moulton
Manager Corporate Communications
(604) 363-1116
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Datum: 16.11.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 88444
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Mining & Metals
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