THE PIG APOLOGIZES, THE SCANNER HAD SOME TECHNICAL DIFFICULTIES THIS WEEKEND. WHILE TWEAKING THE PROGRAM FOR SOME MINOR CHANGES, THE SOURCE CODE BECAME DAMAGED AND HAD TO BE REPAIRED. ITS NOW COMPLETED AND SEVERAL TEST RUNS WERE DONE LATE INTO LAST NIGHT. AGAIN THE PIG APOLOGIZES.
Jun 21, 2010 09:00 ET
Fire River Gold Announces 498 g/t (14.52 opt) Gold Over 3.0 m (9.8 ft) Nixon Fork, Alaska
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2010) -
Fire River Gold Corp. (TSX VENTURE:FAU)(OTCQX:FVGCF)(PINK SHEETS:FVGCF)(FRANKFURT:FWR):
- 498 g/t (14.52 opt) gold over 3.0 m (9.8 ft) in hole N07U061
- Results pending for 25 additional underground holes and 7 additional surface holes
- 2010 drill campaign scheduled to begin late June
- Resource update Fall 2010
Fire River Gold Corp. (ʺFAUʺ or the ʺCompanyʺ) is pleased to announce bonanza gold results 498 g/t (14.53 opt) gold over 3.0 metres (9.8 ft) in hole N07U061 from the ongoing re-evaluation program on its Nixon Fork Gold Mine Project in Alaska. The Company has received assay results and completed careful review of two holes completed in 2007 (N07U061 to N07U062).
New significant intercepts include 498 g/t (14.52 opt) gold over 3.0 m (9.8 ft) in hole N07U062 as part of the ongoing geological re-evaluation program for the Nixon Fork Gold Mine Project in Alaska. A complete list of significant intercepts is provided in Table 1. for these two drill holes.
Table 1: List of Previously Unannounced Drill holes completed in 2007.
During 2007 and 2008, the previous operator completed 9400 metres from mostly underground drill stations in 110 holes.
The results for these holes were not reported by that operator and have never been include in a resource assessment of the mine. The geologic evaluation (re-logging) of the 9400 metres is complete.
Because the 2007 and 2008 results were not formerly reported, a careful review was initiated by FAU of all quality control and quality assurance procedures used by the former operator. Although original check assays from the 2007 drill program were not documented, it is clear, however, that certified standards were used. The re-sampling program of the 2007 drill core is essentially a modified field duplicate exercise of the original assay results.
The re-sampling of the remaining half-cores, were fully analyzed except in rare cases where quarter-cores were used. Sampling of core-duplicates as compared to FAU's pulp-duplicates can produce a high degree of variability in the results due to the ʺnugget effectʺ of gold mineralization that occurs at Nixon Fork. This nugget effect was clearly evident in the bonanza grades reported for the 2008 drilling.
Every effort has been made to replicate the previous sample intervals except when a previous sample crossed a lithological or mineralized boundary. In these cases the new 2010 samples were terminated at such boundaries. The differences in lengths of the intervals may account for some of the variability in gold grades. In general, the assays are in conformity, especially for a comparison of field duplicate samples in a high-grade, coarse gold system.
Re-logging and sampling of the historic core is of critical importance to understanding the controls of gold mineralization as well as gaining confidence in the high grades. The differences in grades shown are typical of high grade, gold deposits with a significant nugget distribution.
For additional details, please refer to FAU's website:
www.firerivergold.com under "news", which include the results from the first group of drill holes, the geological re-assessment program, historic site production, a description of the deposits, additional information on the QA/QC measures and a description of our planned 2010 exploration drilling program.
Figure 1. is a cross section through the 3300 gold zone in the Crystal decline. This zone as well as extensions of potential new zones to the south, was the focus of much of the underground drilling for 2007. The 3300 zone is a pipe-like in shape and varies in diameter from a minimum of 3.0 metres to as much as 40.0 metres. To view Figures 1 and 2, click here:
http://www.firerivergold.com/s/NewsReleases.asp?ReportID=405950.
Underground drilling is typically completed in 'fan-like' arrays of drill holes show in Figure 2. These fans define the limits of the high grade zones in the 3300. Most of the drilling in 2007 was completed between the 280 and 200 levels of the Crystal decline.
Relogging and sampling of the 2007 and 2008 drill core has been completed. Geologic work will now focus on selected zones from the pre-2007 core library, particularly in areas of favourable targets and mineralization. Work will also begin on a new resource estimate scheduled for completion by Fall of 2010.
Other near term tasks to begin in June will be underground mapping and sampling with particular emphasis on fault and facture zones. Also, core drilling will commence in the later part of June with the initial focus on high quality near-surface targets.
Figure 2. Typical underground fan drill station in the Crystal MineNixon Fork decline showing mineralized zones. To view Figures 1 and 2, click here:
http://www.firerivergold.com/s/NewsReleases.asp?ReportID=405950.
Table 2. A comparison of the Original 2007 assays with the check assays from 2010
(field duplicates).
The Nixon Fork Gold Mine produced significant bi-product copper and silver. Until the closure of the mine in 2007, reported copper production was 1.27 million lbs and silver production was 19,566 ounces from 106,137 tonnes mined. Historic recovered grades are about 0.6% for copper and 0.18 opt for silver.
The project is being managed by Richard Goodwin, P.Eng, VP Mining for Fire River Gold and is the Qualified Person for this news release.
About Fire River Gold Corp.
Fire River Gold Corp. is a near term production company with a superior technical team focused on bringing its flagship project, the Nixon Fork Gold Mine, back into production within the next 12 months. The Nixon Fork Gold Mine is a fully permitted and bonded gold mine with past production values averaging 1.4 opt (42 gpt). Facilities at the Nixon Fork Gold Mine include a 200 tpd floatation plant with a gravity gold separation circuit and a sulphide floatation circuit. In 2008, a CIL gold leaching circuit was purchased and approximately 60% installed. The mine also includes a fleet of mining vehicles, a self-contained power plant, maintenance facilities, drilling equipment, an 85 person camp, office facilities and a 1.5 km long landing strip. Nixon Fork is located within Alaska's Tintina Gold Belt, which hosts numerous world class deposits. Fire River Gold is a member of the International Metals Group (
www.internationalmetalsgroup.com).
On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.
Harry Barr, President and C.E.O.
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. We seek safe harbour.
Fire River Gold Corp.
Harry Barr
President & C.E.O.
+1 604 685 1870
+1 604 685 8045 (FAX)
info@firerivergold.com
www.firerivergold.com
Sultan Minerals Commences Exploration to Expand the Gold Resource at Its Kena Gold Property, BC
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2010) - Sultan Minerals Inc. (TSX VENTURE:SUL)(FRANKFURT:RZN) is pleased to announce commencement of the 2010 Exploration Program on its Kena Gold Property, located in southeastern British Columbia. This exploration program will test two target areas, the Kena Gold and Kena Copper Zones with IP geophysical surveys and diamond drilling.
The northern portion of the Kena Property contains "gold-only" porphyry style mineralization. A 2004 National Instrument 43-101 resource estimate reported a measured and indicated resource of 381,000 ounces of gold and an additional inferred resource of 389,000 ounces of gold. This resource is based on 115 drill holes and has an average grade of 1.0 g/t gold using a cut off grade of 0.50 g/t (see News Release of June 7, 2004). This resource is exposed on surface and remains open along strike and at depth.
The large Kena Property also contains significant copper-gold porphyry potential in its largely untested Kena Copper Zone which extends for 3.5 kilometres south of the gold porphyry zone (see News Release dated November 3, 2008). The gold and copper-gold mineralization appears to be aligned along a strong, deep seated, 10 kilometre long structure identified by prior airborne geophysics. The gradation from gold to copper-gold mineralization may represent mineral zonation along the structure.
Geologic trends and strong geophysical and geochemical features indicate that the Kena Property's Gold Mountain, Kena Gold, Kena Copper and South Gold Zones all relate to the same feature and expansion drilling along the seven kilometre strike of the mineralized zones may substantially increase the current resource estimate.
Diamond drilling will investigate the size, depth and orientation of the higher-grade gold shoots in the Kena Gold Zone. Geophysics, followed by diamond drilling will also test the copper-gold potential in the Kena Copper/South Gold Zone area located between 1.0 to 3.5 kilometres south of the Kena Gold Zone. These target areas were identified in 2009 by geological mapping work conducted by Dr. Jim Oliver and were partially explored by an Induced Polarization (IP) geophysical survey completed in November 2009 (see News Releases dated September 9 and November 19, 2009).
All permit approvals have been received for the initial program, which is budgeted at $500,000 and will include soil sampling, IP and magnetometer surveying, and diamond drilling. Drilling will test the best targets defined by the geochemical and geophysical surveys with priority being given to the strongest coincident copper-gold and IP geophysical anomalies.
The geochemical and geophysical surveys are anticipated to be completed by late June and diamond drilling to commence in early July.
Linda Dandy, P.Geo., is the project supervisor and "Qualified Person" for the purpose of National Instrument 43-101, who has reviewed and verified the contents of this news release.
For further information on Sultan's projects, visit www.sultanminerals.com.
Arthur G. Troup, P.Eng., Geological, President and CEO
This release was prepared by Sultan's management. This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Sultan expects are forward-looking statements. Although Sultan 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 or developments may differ materially from those in the forward-looking statements. Factors that could cause 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 those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Sultan, investors should review Sultan's filings that are available at www.sedar.com or Sultan's website at www.sultanminerals.com.
SEC 12g3-2(b): 82-4741
FOR FURTHER INFORMATION PLEASE CONTACT:
Sultan Minerals Inc.
Marc Lee
Investor and Corporate Communications
(604) 687-4622 or Toll Free: 1-888-267-1400
(604) 687-4212 (FAX)
mlee@sultanminerals.com or info@sultanminerals.com
www.sultanminerals.com
Grande Portage Resources Ltd. Announces Update
Canada NewsWire
VANCOUVER, June 21 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce that it has engaged Core One Enterprises LLC. Of Delta, Colorado to conduct its upcoming drilling program at the Herbert Glacier mesothermal gold vein project in Alaska this summer.
The claims host six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The structures strike east-west and dip steeply, mostly to the north. Only one of the six known vein systems was drilled in 1986 and 1988. All six structures locally have high-grade gold-quartz mineralization and are recommended to be drill tested.
Commencing in early August, the Company will drill (using NQ core) between 4500 feet and 7000 feet from approximately six drill sites to further test possible ore-shoots in vein no. 1 identified in historic drilling and begin to test the underground potential of several other veins found to be strongly enriched gold-bearing in surface studies done in 2007.
As well, the Company wishes to indicate that it is fully financed for the 2010 and 2011 drill seasons as per its recently announced option agreement.
Wes Raven, P. Geo. a qualified person as that term is defined under NI 43-101, has reviewed the technical information contained in this news release.
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ON BEHALF OF THE BOARD OF DIRECTORS
--------------------------------
Ian Klassen, President
>>
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
For further information: Mr. Ian Klassen, Phone: (604) 899-0106, Email: ian@grandeportage.com, Website: www.grandeportage.com
