DGAP-News: Confederation Minerals Ltd.: Drilling at Newman Todd intersects 11.25 metres of 5.75 g/t gold and 58.00 metres of 1.11 g/t gold
(firmenpresse) - DGAP-News: Confederation Minerals Ltd. / Key word(s): Drilling Result
Confederation Minerals Ltd.: Drilling at Newman Todd intersects 11.25
metres of 5.75 g/t gold and 58.00 metres of 1.11 g/t gold
22.11.2011 / 13:30
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CONFEDERATION MINERALS LTD.
Suite 1980, 1075 West Georgia Street,
Vancouver, British Columbia, V6E 3C9
Tel: 604 688 9588; Fax: 778 329 9361
NEWS RELEASE
November 22nd, 2011
TSX-V Symbol: CFM
Drilling at Newman Todd intersects 11.25 metres of 5.75 g/t gold and
58.00 metres of 1.11 g/t gold
Confederation Minerals Ltd. ('Confederation') (TSX-V: CFM) is pleased to
report continued high grade drill results from the on-going drilling
program at the Newman Todd property in the Red Lake Gold District, Ontario.
The work is being operated and funded by Confederation pursuant to an
option to earn a 70 percent interest in the project from Redstar Gold Corp.
(TSX.V:RGC).
To date, 52 drill holes totaling 20,000 metres have been completed in 2011,
and drilling continues with two drills operating 24 hours per day.
Drilling has focused on the Newman Todd Structure (NTS) where gold
mineralization has been discovered over a strike length 1.6 kilometres and
remains open to the SE.
Results reported in this release include Hole NT-087, drilled into the
Hinge Zone, which intersected five separate high grade gold intervals with
an additional wide interval of 1.11 g/t gold over 58.0metres.
Highlights:
- Hole NT-087 intersects 10.60 g/t gold over 0.50 metres and 15.90 g/t
gold over 1.00 metres and 11.25 g/t gold over 5.75 metres including
97.80 g/t gold over 0.50 metres and 12.80 g/t gold over 1.00 metres.
- Hole NT-087 also intersects 58.00 metres of 1.11 g/t gold.
- Hole NT-089 intersectes 10.40 g/t gold over 1.0 metres
- Hole NT-090 intersects 28.80 g/t gold over 1.0 metres
- Hole NT-091 intersects 11.60 g/t gold over 1.0 metres
Discussion of Results:
This latest group of results are from drill holes located within the Hinge
Zone (NT-087 and NT-086) and continue to exhibit wide-spread, high-grade
gold mineralization within the central part of the NTS. Holes 88 and 91
were drilled in the north-eastern part of the NTS, approximately 400 metres
northeast of the Hinge Zone while holes 89 and 91 were drilled in the
south-western part of the NTS approximately 400 metres southwest of the
Hinge Zone. (Refer to Confederation's web site at
www.confederationmineralsltd.com for figures showing the location of the
NTS, all drill holes announced to date, the Hinge and other zones of
high-grade gold mineralization and a complete listing of assay results).
Gold mineralization continues to be associated with veining and
silica-sulphide replacement zones within the widespread iron-carbonate
alteration system of the NTS. These zones continue to be intersected in
drilling along the entire drilled strike length of the NTS - now
approximately 1.6 km of the total projected 2.2 km strike length. The
Hinge Zone represents a major flexure within the NTS, where, similar to
other major gold deposits, gold-bearing fluids have been focused and
therefore have formed wider, and higher-grade mineralized bodies. This
same model is proposed for the NTS at depth, as well, where flexures in the
vertical sense have similarly acted as fluid traps, and could host yet
higher grade and more continuous mineralization than that already
discovered at Newman Todd. Further drilling, subsequent to detailed
interpretation of the major amount of data collected over the past year of
continuous drilling with two drills, will focus on following the lateral
strike and vertical plunge of Hinge Zone-type dilational structures.
Lawrence Dick, Ph.D., P.Geo, President and CEO of Confederation Minerals
states: 'We continue to be extremely pleased and very excited and
optimistic with results from the 2011 drill program. Although we are still
in the early stages of drilling, the data to date have shown incredible
continuity of the gold mineralizing system along the entire drilled area,
which is now approaching 2 kilometers. We are also starting to observe
wider zones of lower-grade gold mineralization in close association with,
or enveloping the high grade intercepts. The grade and widths of our
results are comparable to those being intersected at Goldcorp's High Grade
Zone where narrow drill intercepts account for a significant gold reserve
and resource (Goldcorp NI 43-101 report dated January 15, 2011). Given the
difficulty in intersecting high-grade gold zones in Red Lake-style
deposits, the fact that our drilling has intersected gold mineralization in
almost every hole drilled this year along a 1.6 kilometer strike length
gives us ample reason for optimism. Now that the first-pass reconnaissance
drilling is nearly finished, with fences of drill holes along 1.6
kilometers of the structural-alteration zone, attention will shift to
demonstrating continuity along strike and with deeper holes to depth. The
fact that multiple zones of gold mineralization are being intersected in
individual holes indicates the presence of multiple, sub-parallel striking
structures, adding to the potential of the project.'
Table of results from nine recently completed holes:
Hole From (m) To (m) Au (g/t) Width (m) Section
NT-086 239.00 239.50 3.41 0.50 2150
and 302.00 303.00 3.33 1.00
and 337.00 340.00 2.17 3.00
including 338.00 339.00 4.66 1.00
and 367.00 372.00 1.07 5.00
including 369.00 370.00 3.98 1.00
and 428.00 429.00 3.98 1.00
and 472.00 473.00 3.15 1.00
and 486.00 487.00 3.56 1.00
NT-087 237.00 241.00 3.11 4.00 2100
including 238.50 240.00 6.97 1.50
and including 239.00 239.50 10.60 0.50
and 249.00 250.00 15.90 1.00
and 279.75 291.00 5.75 11.25
including 280.35 280.85 97.80 0.50
and including 290.00 291.00 12.80 1.00
and 354.00 412.00 1.11 58.00
including 363.00 371.00 0.04 8.00
and including 358.00 359.00 7.24 1.00
and including 379.00 380.00 6.72 1.00
and 384.00 392.00 2.23 8.00
and 396.00 403.00 2.00 7.00
NT-088 339.00 340.00 3.26 1.00 1325
and 345.00 346.00 4.20 1.00
NT-089 48.00 49.00 3.19 1.00 2450
and 187.00 188.00 10.40 1.00
and 240.00 241.00 7.65 1.00
NT-090 37.00 46.00 1.06 9.00 2450
including 38.00 39.00 4.29 1.00
and 76.00 77.00 7.08 1.00
and 86.00 97.00 1.00 11.00
and 187.00 197.00 1.02 10.00and 255.00 262.00 1.08 7.00
and 276.00 282.00 1.84 6.00
and 314.00 315.00 28.80 1.00
and 321.00 326.00 1.64 5.00
NT-091 60.00 66.50 3.01 6.50 1325
including 60.00 61.00 16.40 1.00
and 341.00 390.00 0.97 49.00
including 377.00 380.00 3.07 3.00
and including 389.00 390.00 11.60 1.00
weakly anomalous (drilled outside of the* Width is calculated as core length and does not imply true width of the
NT-092 NTS) Anomalie 1
zone. Weighted average gold intervals apply a 0.25 g/t lower cut-off.
Internal dilution within reported intervals does not exceed core lengths of
two metres unless otherwise indicated.
** Cross sections are spaced 25 metres apart across the entire NTS, Section
1375 marks the centre of the Heath Bull Zone.
Exploration work at the Newman Todd project is funded by Confederation
Minerals Ltd. (Confederation) (TSX.V:CFM). Confederation can earn a 50%
interest in the project by spending $5.0 million in exploration by November
2013, and an additional 20% by producing a Preliminary Economic Assessment
(PEA) by November 2016. During the earn-in period, Confederation is the
operator of the project.
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, 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
Confederation's quality control/quality assurance program.
Bob Singh P.Geo is the qualified person as defined by National Instrument
43-101 and has reviewed this news release. Mr. Singh has been engaged
through a third party service provider by Confederation Minerals Ltd. to
manage the project, and is also the Canadian Exploration Manager for
Redstar Gold Corp.
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
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
Confederation Minerals Ltd. (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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