[Marinir] {Disarmed} Meadow Bay (TSX-V: MAY) Reports New Drill Result
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Wed Nov 16 16:46:33 CET 2011
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http://www.meadowbaygold.com/
MEADOW BAY GOLD REPORTS NEW DRILL RESULTS
FROM THE ATLANTA GOLD MINE IN NEVADA
Meadow Bay Gold Corporation (TSXV: MAY
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=MAY®ion=C&lookup=symbol&snapshot=default
) (OTCQX: MAYGF
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=MAYGF®ion=U&lookup=symbol&snapshot=default
) is pleased to report assay results from four core drill holes at its
drilling program at the Atlanta Gold Mine, Lincoln County, Nevada.
Two of drill holes complete the confirmatory drilling program on the
Atlanta Fault deposit. The purpose of this program is to test for
thickness and grade of gold and silver mineralization adjacent to the
past producing Atlanta Pit that was closed in 1985 due to low gold
prices. The historic mineralization occurs primarily in a jasperoid
fault breccia between overlying Tertiary volcanic rocks and Paleozoic
sedimentary rocks.
Drill holes DHRC-11-03C and -07C were collared to the west and northwest
of the pit and tested holes previously drilled by Gold Fields and
Kinross, respectively. The results from these drill holes generally
corroborate the results from the previous drilling. Both holes are in
the Atlanta Fault breccia although the mineralized intercept in -07C is
unusually thick. In addition, hole -07C contained significant
mineralization in the overlying mine dumps which represents a potential
resource that has yet to be evaluated. While not a confirmation hole,
DHRC-11-10C expands the limits of the jasperoid breccia to the south of
the Atlanta Pit.
The recently announced gold porphyry mineralization discovery was
extended 67 meters to the west by hole DHRC-11-11C. Three zones of
potentially economic mineralization with an aggregate thickness of
nearly 87 metres were intersected before the porphyry was truncated by
the Atlanta Fault at depth. At present, significant precious metals
mineralization in the porphyry has been traced for over 250 metres in an
east-west direction. The porphyry remains open to the north, west and
south.
Below is a table summarizing the significant drill results from the new
drill holes:
Note: eAu calculated at an Au:Ag ratio of 1:53
At present, two drills are exploring the Atlanta project. The core drill
is testing for porphyry-style mineralization further to the west of
DHRC-11-11C. The reverse circulation drill is engaged in in-fill
drilling on the Atlanta Fault breccia north of the Atlanta Pit. A second
RC rig with deep-drilling capabilities is being evaluated for additional
holes in the porphyry this drilling season.
Updated drill hole location maps, cross sections and tables of results
are available on the Meadow Bay Gold website at www.meadowbaygold.com
http://www.meadowbaygold.com
.
Robert Dinning, CEO commented, "The continued success with the
confirmation drilling program combined with our step-out drilling is
advancing the redevelopment at a faster pace than anticipated keeping us
on track to produce a resource estimate in the new year."
Bill Reed, a Qualified Person as defined by National Instrument 43-101,
and director of Meadow Bay Gold has reviewed the contents of this press
release. An ongoing QA/QC program is being employed including blank,
duplicate and reference standards with samples are being assayed at the
ALS Chemex lab in Elko Nevada, by fire assay with a gravimetric finish.
Meadow Bay Gold is focused on developing the former producing Atlanta
Gold Mine in Nevada, USA. Drilling continues as does reconnaissance
exploration on recently staked claims to the northwest and southeast.
For more information please contact;
Meadow Bay Gold Corporation
Robert Dinning,
Chairman and CEO
Tel: 604-907-0901
Launch IR
Matthew Harrington
Tel: 613-882-7467
Goal Capital
Danny Gravelle
Tel: 949-481-5396
Neither 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 press
release.
This press release includes certain "forward-looking statements" within
the meaning of the United States Private Securities Litigation Reform
Act of 1995 and "forward looking information" within the meaning of
Canadian securities laws. There can be no assurance that such statements
will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. Important
factors that could cause actual events and results to differ materially
from Meadow Bay's expectations include the need to satisfy the
conditions set forth in any agreement entered into in connection with
the Desert Hawk transaction and the equity financing; the need to
satisfy regulatory and legal requirements with respect to the Desert
Hawk transaction and the equity financing; risks related to the
exploration stage of Meadow Bay's projects; market fluctuations in
prices for securities of exploration stage companies; and uncertainties
about the availability of additional financing. Trading in the
securities of Meadow Bay should be considered highly speculative. Meadow
Bay does not intend, and does not assume any obligation, to update any
forward-looking statements, other than as required by applicable law.
The press release makes reference to historical estimates. The
historical estimates are by definition herein not NI 43-101 compliant
and are included herein in for historic context and completeness. There
can be no assurances that any of the historical estimates will be able
to be categorized as a NI 43-101 compliant resource or reserve category
or demonstrate any economic viability. Investors are cautioned not to
rely on the historical estimates when making their investment decisions.
For more information about this service, please see:
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http://www.infostockbiz.com
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