Underworld Step-out Holes Expand Golden Saddle Zone, Including 3.13 g/t Au over 100.4 meters


Underworld Resources  is pleased to announce additional results from the ongoing drill program at the White Gold Property, Yukon. To date, Underworld has completed 22,000 meters of drilling over 84 holes during the 2009 exploration program.

Highlights of the most recent assays from the Golden Saddle zone include:

Hole ID

Weighted avg. grade
(g/t Au)

Length (m)

WD09-64

3.13 g/t  Au 

100.40  meters

WD09-69

3.40 g/t  Au

76.90  meters

WD09-70

3.51 g/t  Au 

50.03  meters

Results to-date continue to demonstrate excellent continuity of near-surface gold mineralization at the Golden Saddle Zone. The deposit remains open to expansion to the east and north. Drill hole WD09-64 is a step-out hole to the northeast, and intersected 100.4 meters averaging 3.13 g/t, including 19.5 meters averaging 6.70 g/t Au. This is the northeastern most hole for which assays have been received to date, with assays pending for additional holes completed along strike and down-dip. The intercept in WD09-64 is 75 meters down-dip from WD09-56, which intersected 55.9 meters averaging 1.50 g/t Au, and 110 meters down-dip from WD09-47, which intersected 31.1 meters averaging 9.2 g/t Au. Four additional drill holes on approximately 50 meter centers have been completed down-dip from WD09-64, with assays pending.

WD09-069, which intersected 76.9 meters averaging 3.40 g/t Au, including 41.0 meters averaging 5.44 g/t Au, and WD09-70 which intersected 50.5 meters averaging 3.51 g/t Au, including 37 meters averaging 4.04 g/t Au are infill holes. Infill and step-out drilling is being completed on 50 meter intercept centers along strike and down dip. These holes demonstrate the excellent continuity of grade and thickness at Golden Saddle.

The objective of the current drilling at Golden Saddle is to continue to expand mineralization along strike and down-dip, and to complete a NI 43-101 compliant resource estimate. The Company is targeting near-surface mineralization potentially amenable to open pit mining, as well as deeper extensions potentially amenable to bulk underground mining methods. During 2009, 54 holes have been completed at the Golden Saddle Zone, with assays currently pending for 21 holes.

Most recent drill results include:

Hole ID From (m) To (m) Length (m) Au (g/t)
Golden Saddle
WD09-059 58.00 59.00 1.00 1.75
WD09-061 158.00 162.50 1.82 4.50
and 195.29 202.00 5.48 6.71
WD09-063 54.50 56.00 2.33 1.50
WD09-064 217.50 317.90 100.40 3.13
including 217.50 272.50 54.30 4.71
including 217.50 237.00 19.50 6.70
including 246.35 266.50 19.50 5.77
WD09-066 187.00 196.50 9.50 6.06
including 187.00 192.00 5.00 10.40
and 297.75 300.80 3.05 9.34
WD09-69 174.65 251.50 76.85 3.40
including 210.50 251.50 41.00 5.44
WD09-70 207.50 258.00 50.50 3.51
including 219.50 256.50 37.00 4.04
Arc      
WD09-057 100.00 116.50 15.08 0.64
WD09-058 118.50 153.00 34.50 1.04
and 190.50 201.00 10.50 1.17
and 266.00 290.00 24.00 0.76
WD09-062 No Significant Intercepts
WD09-065 221.05 264.00 42.95 0.53
WD09-067 54.50 88.00 33.50 0.78
Including 70.50 88.00 17.50 1.39
Minneapolis Creek
MC09-02 No Significant Intercepts
MC09-03 31.50 39.00 7.50 0.50
MC09-04 No Significant Intercepts
Donahue
DN09-01 101.50 103.50 2.00 1.00

*True Widths are estimated to be between 70% and 100% of drilled interval

Infill and step-out drilling has been completed on 100 meter centers at the Arc Zone, located about 1,000 meters south of Golden Saddle. At the Arc Zone, 19 holes have been completed to-date, with assays pending for an additional 10 holes. Drill holes WD09-57, 58, 65, and 67 have extended the Arc zone to the West-Southwest of WD08-17 (29.0 meters averaging 1.47 g/t Au). Underworld has completed four regional holes at Minneapolis Ridge, and three regional holes have been completed at the Donahue Zone. Drill hole DN09-01 at the Donahue target, located 2,500 meters south of Golden Saddle encountered anomalous, near surface gold mineralization within soil, rock grab, and trench samples, similar in style to the Golden Saddle. Assays for two additional holes at Donahue are currently pending.

Underworld is currently drilling regional targets at the South Donahue and McKinnon showings, located four and six kilometers southeast of Golden Saddle, respectively. Three drill rigs are currently in use on the project and it is anticipated that a total of 25,000 meters of core drilling in approximately 115 drill holes will be completed during the 2009 program. A complete table of assay results from the 2009 White Gold Drilling Program, as well as cross-sections, and drill plan maps will be available shortly at www.underworldresources.com.

Intrusive-related gold mineralization at the Golden Saddle Zone is preferentially hosted within metamorphosed felsic intrusive units, as well as felsic and mafic metavolcanic rocks. Gold mineralization is associated with quartz veins, stockwork and breccia zones, as well as pyrite veinlettes and disseminations. The alteration assemblage includes pervasive K-spar, carbonate, sericite and silicification. The main mineralized zone at Golden Saddle strikes to the northeast, with a gentle to moderate dip to the northwest. Mineralization remains open to expansion along strike to the northeast and at depth.

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