[Marinir] {Disarmed} Choice Gold Drills 114.0 Metres of 0.41 g/t Gold, Incl. 59.5 Metres of 0.54 g/t Gold
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Thu Mar 15 14:40:44 CET 2012
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http://choicegoldcorp.com/
Choice Gold Corp. drills 114.0 metres at 0.41 g/t Au (including 59.5 m
at 0.54 g/t) at Sugarloaf Peak Gold Project
Choice Gold Corp. ( CHF
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=CHF®ion=C&lookup=symbol&snapshot=default
: CNSX) (MUN: OCG) is pleased to announce results from the first 6 of 13
holes from the phase 1B drilling program at its Sugarloaf Peak Gold
Project, located in southwest Arizona. Highlights include hole SGR-12-09
and SGR-12-10 that intersected a thick sequence of mineralized felsic
tuffs returning respectively 93.0 metres at 0.44 g/t Au (including 21.3
m at 0.53 g/t Au and 33.5 m at 0.51 g/t Au) and 114.0 metres at 0.41 g/t
Au (including 59.5 m at 0.54 g/t Au) . The central mineralized zone now
extends over 1.1 km along a NE-SW strike between SGR-12-09 and
SGR-12-11. The holes were collared in a strongly hematite altered unit
up to 25 metres thick that then intersected supergene altered tuffs over
a variable thickness (from 12 metres to over 100 metres thick). The
holes were mineralized from surface down and bottomed in mineralization.
Readers are encouraged to view the detailed cross section on the home
page of the Company web site ( www.choicegoldcorp.com
http://www.choicegoldcorp.com
). The drilling campaign consisted of 13 reverse circulation holes
testing the historically known central mineralized area, as well as new
areas to the West, South and South East which have been identified based
on rock gold anomalies at surface. A total of five holes were drilled
into the historically known mineralized area, of which the Company has
now received results from four of these (SGR-12-09, SGR-12-10, SGR-12-11
and SGR-12-12), here presented.
Gianni Kovacevic, CEO of Choice Gold, commented: "The clear objective of
the phase 1B drill program was to corroborate some of the vast
quantities of available historical information. There has been over
10,000 m of drilling on the property between 1963 and 1995 all
concentrated in the same central area and performed by at least four
different mining companies which produced two historical non-43-101
resource estimates for the Sugarloaf Peak Gold Project. Our technical
team is working hard to confirm and expand upon that historical
information in order to better define the historical mineralized area.
We are looking to assess, and if applicable, accelerate plans for a
Phase 2 drill program in 2012 to follow-up on today's results and test
the potential extension of mineralization at depth."
Hole SGR-12-09 was drilled to test the northeastern extension of the
mineralized zone as defined by the available historical information.
This hole successfully demonstrates the potential to expand upon the
large footprint of the Sugarloaf Peak project on strike and to depth by
intersecting continuous mineralization through the entire hole. Hole
SGR-12-09 bottomed in mineralization at a vertical depth of 117 metres.
Hole SGR-12-10 was drilled to corroborate the historical information of
hole CS-7, which reflected the highest grade-thickness ratio amongst the
historical holes. Choice Gold was able to confirm the higher grade
intervals at similar and greater depths than historical hole CS-7 with a
broad mineralized intersection and grades reaching 3.3 g/t Au.
The calculated intervals for all the 2012 drill holes received to date
are presented in the following table. All intervals were calculated
using a 0.15 g/t Au cut-off, a minimal thickness of 25 feet or 7.6
metres and a maximal dilution thickness limited to 3.0 metres.
RC Hole No
From
m
To
m
Interval*
m
Grade
g/t Au
SGR-12-07
33.5
41.2
7.6
0.66
SGR-12-08
None
SGR-12-09
0.0
93.0
93.0
0.44
including
4.6
25.9
21.3
0.53
including
53.4
86.9
33.5
0.51
SGR-12-10
0
114.0
114.0
0.41
including
4.6
64.0
59.5
0.54
SGR-12-11
7.6
44.2
35.1
0.33
including
28.9
39.6
10.7
0.52
83.8
99.1
15.2
0.27
SGR-12-12
6.1
44.2
38.1
0.21
57.9
85.4
27.5
0.22
* Intervals represent core length; true thickness is unknown
Hole SGR-12-11 was drilled to test the Western extension of the
historical information and returned 0.33 g/t Au over 35.0 m.
Hole SGR-12-07 tested the extension of hole SGL-11-04 and intersected
7.6 m at 0.66 g/t Au from a depth of 33.5 metres in a clay rich fault
zone, including 1.36 g/t Au over 3.0 m.
Strong structural controls on gold mineralization have been one of the
focuses of the current drill program. Shallowly dipping faults through
the central zone of mineralization are believed to control disseminated
gold mineralization by acting as conduits to transport the mineralizing
fluids through porous tuffaceous host units. Combined with structural
mapping, aeromagnetics and Titan 24 surveys performed in 2011, the
development of this model has helped define a variety of targets
throughout the entire 24 km 2 SugarloafPeak property. Structural
controls on gold mineralization have been recognized in several adjacent
low grade, large tonnage gold deposits of the northern Sonora desert
such as Herradura, El Chanate and Mesquite. Further work on the
Sugarloaf Peak property will focus on the recognition and targeting of
these controlling faults with the aim of advancing the property towards
an NI 43-101 compliant mineral resource.
All the RC holes were sampled successively from the top to the bottom of
each hole following rigorous QAQC procedures. These QAQC procedures
included the insertion of blanks, standards, and duplicates. All the
samples were shipped to American Assay Lab, Reno, NV, to be pulverised
and analyzed for Au by the fire assay method and for a suite of trace
elements using the ICP method.
Brigitte Dejou, P.Eng., Choice Gold's Manager of Exploration, is the
non-independent, Qualified Person, responsible for the technical
information reported herein.
About Choice Gold Corp.:
Choice Gold Corp. was created to acquire and advance select,
high-potential mineral projects and thereby unlock shareholder value.
With this goal in mind, the company has entered an option agreement with
Riverside Resources Ltd. (TSX-V: RRI) to acquire a 100% interest in the
Sugarloaf Peak Gold Project just west of Quartzsite, Arizona. Sugarloaf
Peak covers over 24 km² and was the subject of intermittent
drilling and small-scale mining from the 1950s through to the 1990s. The
project is the subject of a historical, non-National Instrument 43-101
compliant mineral resource. For more information about Choice Gold
please visit our website at www.choicegoldcorp.com
http://www.choicegoldcorp.com
.
For further information, please contact:
Mac Bell, Senior Vice President, at:
Tel: 1.800.975.7152
info at choicegoldcorp.com
Certain statements contained in this release constitute forward-looking
information. These statements relate to future events or future
performance. The use of any of the words "could", "intend", "expect",
"believe", "will", "projected", "estimated", "anticipates" and similar
expressions and statements relating to matters that are not historical
facts are intended to identify forward-looking information and are based
on the Company's current belief or assumptions as to the outcome and
timing of such future events. Actual future results may differ
materially. In particular, this release contains forward-looking
information relating to the business of the Company, the Property,
financing and certain corporate changes. The forward-looking information
contained in this release is made as of the date hereof and the Company
is not obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. Because of the risks,
uncertainties and assumptions contained herein, investors should not
place undue reliance on forward-looking information. The foregoing
statements expressly qualify any forward-looking information contained
herein.
CNSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of the content of this news release.
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