Regency Gold's Agate Pass Project, Nevada
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/20/11 -- Regency Gold Corp. (TSX VENTURE: RAU.H) (the "Company") is pleased to announce that its 2011 mapping and sampling program on its 100% owned Agate Pass project located near Cortez, Nevada have defined significant new Carlin style sediment hosted gold targets at depth beneath high grade gold veins. Highlights of the work and the project are:
The Agate Pass property includes 12 unpatented lode mining claims (260 acres) located in the Cortez Mountains, Eureka County, Nevada. The property is 8 miles northeast of Barrick's Cortez Hills gold deposit and 5 miles northeast of the historic Buckhorn Mine operated by Teck Cominco in the 1980s. Agate Pass is approximately 50 miles north-northwest of Eureka, Nevada. The property occurs within the Battle Mountain-Eureka Gold Trend which includes a series of prolific historic gold mines from Golconda to Eureka.
Sampling by a previous operator at Agate Pass identified a quartz vein breccia associated with a low angle fault zone at or near the contact between the Brock Canyon formation and the underlying Vinini formation. Gold in the breccia is erratic, but locally very high grade (up to 34 grams). Bedding parallel veins in the Vinini formation contain from 0.5 to 2.0 grams/t gold at several locations on the Agate Pass property. Gold also occurs associated with Cretaceous intrusive rocks and is typically anomalous but low grade, with values up to 1.5 g/t gold in sedimentary rock adjacent to the intrusive.
Regency Gold conducted a soil sampling program covering one of the zones defined gold in rock chips. Ninety six soil samples were collected on a 100 meter by 100 meter grid. Gold in soils ranged up to 0.064 ppm and crudely defines the more anomalous zone of gold in rock chips as well as indicated other new anomalous zones on the project. Additional detailed evaluation is planned during 2012, including better definition of the new anomalies and a drilling of these prospective targets.
This press release has been reviewed and approved by Alan Branham, a consultant to the Company, who is a member of the American Institute of Professional Geologists (CPG#10979), is a Certified Professional Geologist, and is a Qualified Person as defined by NI 43-101. Field work was conducted by independent contractors to the Company.
For the board
Bill Radvak, President and CEO
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
To view the map associated with this press release, click on the following link:
"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 release."
Contacts:
Regency Gold Corp.
Bill Radvak
President and CEO
(778) 888-4101
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Datum: 20.12.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 98649
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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