Millstream Exposes Gold Zone Extension at Tamarack
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 12/19/11 -- Millstream Mines Ltd. (TSX VENTURE: MLM)(FRANKFURT: NJD) is pleased to announce that it is currently processing (milling) ore derived from a gold zone situated in close proximity to the underground ramp portal at its Tamarack Gold Property (a picture can be viewed at the link: ,new.JPG). The gold zone previously exposed in the north wall of the excavated open-cut for the underground ramp has been located off the north wall 20+ feet down the ramp beyond the portal. As reported in a company press release dated November 26th, 2007, "the exposed zone is apparently dipping north east, striking east-west and measures approximately 4 ft. or 1.2 m in width from its top to bottom and approximately at least 100 ft. or 30.48 m in exposed length. A channel sample taken over its width of 4 ft. (1.2 m) returned .928 ounces per ton (opt.) or 28.8 grams per ton (g/t) Gold and 3.04 opt. or 94.2 g/t Silver."
Approximately 20 tons have been processed from this gold zone producing a gravity and a flotation concentrate at its Tamarack Gold Property mill site. Management is presently awaiting assay results and percentages of recovery from this operation. Of significance is the fact that this gold zone is located within one of the six (6) identified targets from the company's previous ground GPS magnetic survey (PR May 11, 2008).
The Tamarack Property is a high grade, former gold producer in the Tobacco Root Mountains, Madison County, Montana consisting of six (6) patented claims and further unpatented claim blocks tying in all claims and making them contiguous. Millstream has a 100% interest in the Tamarack, lode gold bearing, Property and its associated assets. The Tamarack Property is accessible year round, 4 miles from the town of Sheridan, on a maintained gravel road. The associated assets of the property include a 60 tons per day (tpd) refurbished mill and crushing plant. Additional assets include tailings disposal ponds, a water supply lagoon and well, equipment, parts and tools. An electric power transmission line complete with a sub-station delivers the required power needed to run milling operations. The Tamarack Gold Property is in an advanced stage of underground exploration and development operating under the Small Mines Exclusion Act of the State of Montana.
About Millstream Mines Ltd.:
Millstream Mines Ltd. is a Canadian-based mineral exploration company whose principle objective is to enhance and develop known mineral properties to production potential. The Company has projects in the Province of Ontario, Canada and in the State of Montana, USA. The Potter Mine Property is a past producing mine and host to copper-zinc-cobalt "stacked" mineralized zones. It is located in the Abitibi Greenstone Belt, and more specifically in the Kidd-Munro Assemblage which are highly prolific in gold, silver, and base metal mineralization. The property may be is accessed by a mining road off of highway 101, near the town of Matheson in north eastern Ontario and a 390 meter deep shaft resides in close proximity to the known NI 43-101 defined resource found on the property. The Tamarack Gold Property is outlined as above. Exploration properties in the company's portfolio also include the Uncle Sam gold project property in Montana and the Airport property (Sudbury basin precious metals project) in Ontario.
Further information about these properties and the company is available on our website: .
73,851,707 SHARES ISSUED
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Millstream seeks safe harbour with regard to forward looking statements.
Contacts:
Millstream Mines Ltd.
Mr. Ernest Harrison, EM
Chairman and CEO
705-474-7282
Millstream Mines Ltd.
Mr. Marty Martinello, B.A.
Executive V.P.
705-474-7282
Millstream Mines Ltd.
Mr. Robert Chase, CFA
President and CFO
416-368-9595
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 19.12.2011 - 17:27 Uhr
Sprache: Deutsch
News-ID 98393
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 255 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Millstream Exposes Gold Zone Extension at Tamarack"
steht unter der journalistisch-redaktionellen Verantwortung von
Millstream Mines Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
