Archive for September, 2010

CENTRAL RESOURCES ANNOUNCES POSITIVE RESULTS FROM PHASE 1 SOIL SAMPLING PROGRAM AT SELWYN CREEK PROJECT, YUKON

Central Resources Corp. has released results from an initial program of soil sampling at the company’s 522-claim (10,917 hectares) Selwyn Creek gold project in the White Gold area of central Yukon. Strongly anomalous results of up to 523 parts per billion gold and 283 parts per million arsenic were returned from 13 line kilometres of contour soil sampling in the West zone, and results of up to 470 ppb gold and 1,045 ppm arsenic were obtained from soil samples collected over a 900-metre-by-1,700-metre grid in the East zone of the L claim block. A map of the project area will be available on the company’s website shortly.

“We are very pleased that our first phase of soil sampling has confirmed earlier work and outlined several potentially significant gold and arsenic soil anomalies on the L claim block,” said Paul Reynolds, president and chief executive officer of Central Resources. “Obtaining results as high as 470 ppb gold in the East zone is particularly encouraging as this anomaly actually extends off the grid area, which we have now extended, and results are pending. In the West and Central zones, we also have broad arsenic anomalies in contour soils, which are intriguing and definitely warrant additional work.”

The Selwyn Creek gold project consists of six separate claim blocks (J, K, L, M, N and O) located in the Dawson range, generally above treeline, south of the Yukon River and centred on Selwyn Creek. The properties were staked on the basis of historic anomalous soil and sediment sampling conducted by Archer Cathro & Associates (1981) Limited in the mid 1980s. The results announced today are from the first follow-up sampling program conducted on the properties by Central Resources and incorporates the previous sample results.

Over 2,300 soil samples were collected from grids and contour lines covering the various claim groups, with the main focus on the largest (220 claims), the L block, which hosts the bulk (821) of the samples collected this year. On the L claim block, results for gold varied from detection limit to 523 ppb gold, with nine samples over 100 ppb gold and 24 samples over 50 ppb gold. Results for arsenic varied from one to 1,045 ppm arsenic, with 40 samples over 100 ppm arsenic and 137 samples over 50 ppm arsenic. Other claim blocks returned weakly to moderately anomalous values in arsenic and gold, which will need to be followed up with additional soil sampling.

In the East zone of the L claim block, samples were collected from a coarse 900-metre-by-1,700-metre grid of 50-metre-spaced stations on 200-metre-spaced lines in addition to samples collected from 50-metre stations on various contour lines. Sample results from the East zone have identified two greater-than-or-equal-to-20-part-per-billion-gold soil anomalies, each measuring roughly 500 m by 500 m. Within the easternmost anomaly, gold grades appear to be increasing to the north and east of the grid. The grid has therefore been expanded, additional soil samples have been collected, and these results are pending.

The West zone of the L claim block returned anomalous gold values of greater than or equal to 20 ppb outlining an area of roughly 400 m by 400 m, coincident with a somewhat broader greater-than-or-equal-to-50-part-per-million-arsenic anomaly. Farther to the west (and to the southeast in the Central zone), additional arsenic anomalies of greater than or equal to 24 ppm have been outlined by contour sampling over several line kilometres, with spikes of greater than or equal to 100 ppm arsenic at single-sample stations. This area warrants additional work, including prospecting and more detailed grid sampling.

Soil sample analyses were done at ALS Chemex in North Vancouver. The samples were initially analyzed for gold by fire assay followed by inductively coupled plasma-atomic emission spectroscopy (Au-ICP21) and 35 other elements by inductively coupled plasma-atomic emission spectroscopy (ME-ICP41).

Fieldwork was supervised by Heather Smith, PGeo, of Archer, Cathro, who is a qualified person under the definition of National Instrument 43-101. Ms. Smith is responsible for all aspects of the work including the quality control/quality assurance program. All samples were analyzed by ALS Chemex of North Vancouver, B.C. ALS Chemex is an International Organization for Standardization-accredited laboratory. Quality control is further assured by the use of international and in-house standards. Ms. Smith, PGeo, has reviewed and approved the technical disclosure in this news release.

Central has the right to earn a 100-per-cent interest in the properties from Strategic Metals Ltd. by making payments of $300,000 cash and three million shares by Feb. 15, 2012.

We seek Safe Harbor.

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KAMINAK DRILLS NEW GOLD DISCOVERIES AT SUPREMO: AT LEAST FIVE GOLD-BEARING STRUCTURES ARE OPEN ALONG TREND AND AT DEPTH

Kaminak Gold Corp. has released assays from exploration drilling from the Supremo trend, located on the company’s 100-per-cent-owned Coffee property, located in the newly recognized White gold district, Yukon. The Supremo trend is one of three significant gold discoveries made to date by Kaminak in 2010 on the Coffee property. The other two discoveries are the Latte and Double Double trends, which are located approximately 1.5 kilometres south and southeast of the Supremo trend, respectively.

Drilling earlier this season by Kaminak at Supremo focused entirely on testing the north-south-trending T3 structural zone, where results include 17.1 grams per tonne (g/t) gold over 15.5 metres; 3.26 g/t gold over 17.35 metres and 21.3 g/t gold over eight metres (see Kaminak’s news in Stockwatch on May 26, 2010, June 10, 2010, and Aug. 5, 2010). The T3 trend has been traced for at least 550 metres along strike and remains open. Fieldwork at Supremo by Kaminak in 2010 successfully identified several new structural zones parallel to the high-grade T3 structure (T2, T4, T6 and T7) all occurring within a 600-metre-wide envelope with individual structures ranging from five to 50 metres wide each. Gold-in-soil data and ground geophysical surveys suggest these new structures are traceable for several hundred metres along trend. This release provides results from the first-ever holes drilled on these newly defined structural trends.

“Gold mineralization at Supremo consists of several steeply dipping and stacked structures which are all open along trend and at depth,” stated Dr. Rob Carpenter, Kaminak’s president and chief executive officer. “These results significantly increase the potential for Supremo to host high-grade and bulk-tonnage gold deposits.”

Key results:

T2 structure — 3.73 g/t gold over 16 metres starting at 92 metres core depth and a lower intercept of 7.07 g/t gold over two metres starting at 178 metres core depth (both from hole CFD-29);
T6 structure — 2.11 g/t gold over 14 metres starting at four metres core depth and a lower intercept of 2.38 g/t gold over 19 metres starting from 33 metres core depth (both intercepts from hole CFD-34);
T7 structure — two holes collared in alteration and mineralization, with hole CFD-26 yielding 4.65 g/t gold over four metres starting at eight metres core depth.

A detailed plan map, cross-section, assay sheet and photo montage of select core samples are available on the Kaminak website.

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NORTHERN TIGER RESOURCES IDENTIFIES ADDITIONAL GOLD ZONES AT 3ACE AND PROVIDES UPDATE ON YUKON EXPLORATION PROGRAMS

Four separate gold-bearing zones have been identified on Northern Tiger Resources Inc.’s 3Ace property in the southeast Yukon, Canada. In addition, initial drill results from the Sonora Gulch property in the Dawson Range area of the central Yukon have verified the existence of an underlying porphyry system.

“We are excited to announce that Northern Tiger’s initial exploration program at the 3Ace project is continuing to demonstrate its high-grade gold potential. We expanded the strike length of the high-grade discovery vein to over 50 metres before it disappears under heavy overburden. Significantly, initial exploration results have now identified four gold zones in a two-square-kilometre area, each returning at least one-ounce-plus gold assay. Visible gold has been noted in three of the zones,” says Greg Hayes, president of Northern Tiger. “The drilling program at Sonora Gulch has also met its primary objective of verifying that a porphyry copper-gold-molybdenum system is responsible for the alteration and mineralization at Sonora Gulch. With a gold-in-soil anomaly measuring nine square kilometres coupled with the fact that we have only tested a handful of the recommended Titan 24 chargeability anomalies, Sonora Gulch continues to be a high-priority exploration target.”

3Ace

Northern Tiger has completed the initial surface exploration program at 3Ace, consisting of prospecting, mapping and sampling. The primary objectives of the 2010 program were to investigate the extent of high-grade gold mineralization associated with the discovery vein, where previous grab samples returned values up to 140 ounces per ton and to explore the rest of the property for additional mineralized structures and systems. High-grade assays have now been returned from four separate gold zones, and additional results are pending.

Hand trenching has traced the discovery vein for approximately 50 metres along strike before it disappears under heavy overburden. The north-trending discovery vein dips minus-50 degrees to the east and is hosted in a shear zone (the Main zone) which crosscuts a contact between interbedded quartz-pebble conglomerate and fine-grained phyllite lithologies. The exposed sections of the vein have averaged approximately one metre in width. Results from a soil sampling grid suggest that the Main zone extends for a minimum of 100 metres, and also suggest the presence of a second mineralized vein to the east (up-slope) of the discovery vein.

A second zone named the Sleeping Giant and located approximately 1.2 kilometres east of the Main zone consists predominantly of a white massive quartz vein with variable amounts of course crystalline arsenopyrite. Sampling of the vein has also identified visible gold in three locations. The mineralized structure trends north, has a minimum width of 25 metres, and has been traced along strike for 300 metres before disappearing under overburden. To date, assays received from 20 rock samples have ranged from trace to 44.2 grams per tonne gold (from a 1.1-metre chip sample).

The Green zone is located two kilometres north of the Main zone and consists of an east-west-trending zone hosting scoroditic and arsenical mineralization extending at least two kilometres in strike along a property-scale structural corridor. Mineralization occurs both within small veins and, more commonly, as strongly altered quartz-pebble conglomerate wall rock, commonly brecciated and associated with strong clay alteration and local silicification. To date, assays have been received from 67 rock samples and returned values from trace to 66.5 g/t gold (from a grab sample). A total of 17 rock samples returned values in excess of 1.0 g/t gold.

The North zone, located roughly 500 metres east-northeast of the Main Zone, consists of metre-scale quartz veins with arsenopyrite, minor galena and visible gold. Assays received to date from 14 rock samples range from trace to 90.8 g/t gold and 5.0 g/t silver (from a 1.5-metre chip sample). Roughly 70 metres to the east, another 1.5-metre chip sample of quartz pebble conglomerate with quartz veining and clotty arsenopyrite returned 1.5 g/t gold. Both samples occur within an area of abundant quartz veining and strong silicification within quartz-pebble conglomerate.

Assays have been received for approximately 58 per cent of a large program of chip, rock, soil and silt sampling. Additional results are pending.

Sonora Gulch

The Sonora Gulch project is 100 per cent owned by Northern Tiger and is located in the central Yukon’s Dawson range. Twelve diamond drill holes totalling 2,875 metres were recently completed on the Sonora Gulch property. Two of the 12 holes were abandoned at shallow depths due to difficult drilling conditions. The program was primarily designed to test for the presence of a porphyry copper-gold-molybdenum system as suggested by past exploration results and two holes were also collared in a gold-in-soil anomaly (the Gold Vein zone).

Drill hole locations were chosen based on a combination of factors including geophysical interpretation, alteration and geology, and focused on the central portion of a previously identified copper-molybdenum soil anomaly covering over two square kilometres. This area exhibits extensive surface expressions of sericite-pyrite (phyllic) alteration flanked to the north and south by chlorite-epidote-pyrite (propylitic) alteration. The south flank of the phyllic zone extends along Little Kline’s Gulch which is largely overburden-covered although some exposures contain foliation controlled magnetite/biotite (potassic) alteration within altered metavolcanic rocks. A number of the drill holes targeted anomalies identified by a deep-penetrating geophysical survey done by Quantec Geosciences Ltd. and also tested radiometric and magnetic targets identified from a 2009 airborne geophysical survey. Quantec recommended a total of 29 drill holes (including 14 high priority holes) to test chargeability anomalies identified by the Titan 24 survey. Due to the relatively modest drill program, large number of promising targets and logistical limitations of using a skid-mounted drill, only five of the recommended Titan 24 chargeability targets were drill tested in the 2010 drill program. The balance will be considered for drilling in 2011.

The first three holes (SG10-45, 46, 47) cored strongly silicified quartz feldspar porphyritic monzonite containing disseminated and fracture controlled pyrrhotite with minor chalcopyrite. Later holes encountered carbonate-altered metavolcanic wall rock exhibiting skarn and replacement-style sulphides, locally semi-massive. This includes massive magnetite and semi-massive pyrite plus/minus pyrrhotite plus/minus chalcopyrite plus/minus molybdenite along open fractures and in crosscutting quartz veins. Assays from the first five holes (including the two abandoned holes) have revealed sections of geochemically anomalous copper, gold and/or molybdenum values, although no economically significant zones of mineralization are indicated to date. Assay results are pending for the remaining holes.

Minto-style targets

A two-hole (404 m) diamond drilling program has recently been completed on the Dad property. The drilling tested a gradient array induced polarization (GAIP) anomaly coincident with a copper-in-soil geochemical anomaly suggestive of Minto-style disseminated sulphide mineralization. Assay results are pending.

This news release has been reviewed and approved by Dennis Ouellette, BSc, PGeol, a qualified person as defined by National Instrument 43-101. Samples from Sonora Gulch were analyzed by ALS Chemex of North Vancouver, B.C., Canada, using 50-gram fire assay and 35-element ICP analysis. Samples from 3Ace were analyzed by Inspectorate America Corporation of Richmond, B.C., using 50-gram fire assay and 50-element, four-acid ICP analysis. Samples returning in excess of 30 g/t gold are also sent for metallic screen fire assay testing.

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STINA REPORTS ON TRENCH RESULTS, OUTLINES DIAMOND DRILL TARGETS FOR DIME

Stina Resources Ltd.’s sample analytical data from grid soil and trench samples (2,600 soil samples and 247 bulk rock samples) on the Dime property, located in the Yukon, confirm that soil anomalies are underlain by bedrock rubble-crop that reproduces the anomalies at better grades. Three gold-soil anomalies (Western, Central and Eastern) are apparent. The Western and Eastern anomalies were trenched, and rock sample results confirm the soil results. The Central anomaly has yet to be followed up on.

West anomaly

Trenches 2 to 4 defining an east-trending 200-metre soil and bulk-rock trench sample anomaly, previously reported (see Stockwatch news release dated Aug. 11, 2010), showed a 30-metre zone of silicified metasedimentary rocks returning 0.168 gram per tonne gold between five and 35 metres.

Trench 3 located 100 metres east of trench 2 returned samples of 232 and 288 parts per billion gold over two consecutive five-metre sample intervals.
Trench 4 located 100 metres east of TR-3 returned 0.264 gram per tonne Au over 15 metres between five and 20 metres.

East anomaly

East anomaly (located 2.5 kilometres east of the West anomaly) trench samples have highlighted an area of anomalous gold that returned up to 1,490 ppb Au over a five-metre interval from 65 to 70 metres as well as a number of other samples in the range of 100 to 200 parts per billion. From 65 to 115 metres, the trench assays have returned 0.205 gm/t Au over 50 metres.

Core drilling

Crews are currently on site preparing drill pads on both the West and East anomalies, for a planned drill program to further explore these anomalies. A total of six diamond drill holes have been planned for a total of 750 metres on these two anomalies.

Three to four holes will be drilled on the West anomaly over trenches 2 and 4. These trenches produced anomalous gold and are approximately 200 metres north of a 6,082-part-per-billion gold-in-soil anomaly. The drill will then be mobilized to the East anomaly to complete two additional holes over trench 7 which returned an assay of 1,490 ppb Au over five metres. In this zone, anomalous areas are underlain by strongly oxidized metasedimentary rocks with abundant iron oxide, manganese staining and oxidized pyrite.

Kluane Driling Co. of Whitehorse, Yukon, has been contracted to perform the diamond drilling on this project. Drilling is expected to start next week on the property.

The company expects to release a map showing all of the Dime trenches and proposed drill pads early next week.

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