January 11, 2012 |
AM GOLD INC. (TSXV: AMG; FRANKFURT:AMX) ("AM Gold" or the
"Company") announces the fourth tranche of assay
results from its 2011 drilling program at Red Mountain.
The results received to date demonstrate that Red Mountain is
comprised of an extensive gold-mineralized Tombstone
intrusive rock complex enveloped by a thin carapace-like
envelope of altered sedimentary rocks which are also
mineralized with gold. The program to date has
established the potential for extensive tonnages of
mineralized material starting at surface that will require
additional drilling to understand the scope and size of the
potential target. The mineralized footprint is now known to
extend for 1,050 meters in a northwest-southeast direction,
at least 600 meters lateral to that direction and open in all
directions and to depth.
Neil Downey, vice-president of exploration for AM Gold,
states "With the 2011 drill program we have increased
the areal extent of the mineralized footprint previously
identified in 2010 by over 350%. To date every core hole from
our 2010 and 2011 drill season has encountered gold
mineralization. Our focus for 2010-2011 has been on resource
expansion; the next step and priority will be to identify
higher-grade zones through the interpretation of geophysics
and geochemistry as we continue to focus on resource
growth."
Assay results for the remaining nine drill holes from the
2011 drilling program are summarized below.
SELECTED DDH INTERVALS: ICE11050, 051, 052, 054, 054B, 057, 059, 060, 061, and 062
Hole Number |
From (m) |
To (m) |
Interval Length (m) |
Gold (g/t) |
ICE11050
|
12.0
|
28.5
|
16.5
|
0.38
|
147.0
|
162.0
|
15.0
|
0.67
| |
171.0
|
201.0
|
30.0
|
0.31
| |
including
|
171.0
|
183.7
|
12.7
|
0.38
|
230.5
|
243.0
|
12.5
|
0.43
| |
271.0
|
279.5
|
9.3
|
0.42
| |
ICE11051
|
7.5
|
62.0
|
54.5
|
0.44
|
116.0
|
128.0
|
12.0
|
0.49
| |
174.5
|
182.0
|
7.5
|
0.76
| |
ICE11052
|
1.5
|
24.0
|
24.0
|
0.51
|
96.0
|
115.0
|
19.0
|
0.62
| |
135.5
|
137.0
|
1.5
|
4.10
| |
175.0
|
184.0
|
9.0
|
0.46
| |
ICE11054
|
1.5
|
72.25
|
70.25
|
0.32
|
26.0
|
32.0
|
6.0
|
0.60
| |
ICE11054B
|
27.0
|
36.0
|
9.0
|
0.50
|
67.5
|
117.0
|
49.5
|
0.44
| |
including
|
96.0
|
106.5
|
10.5
|
0.71
|
127.5
|
145.5
|
18.0
|
0.43
| |
including
|
127.5
|
132.0
|
4.5
|
0.37
|
159.0
|
181.87
|
22.87
|
0.37
| |
ICE11057
|
38.0
|
59.0
|
21.0
|
0.55
|
85.5
|
232.0
|
146.5
|
0.39
| |
including
|
145.5
|
212.0
|
66.5
|
0.44
|
ICE11059
|
3.75
|
300.23
|
296.48
|
0.32
|
52.5
|
57.0
|
4.5
|
3.83
| |
60.0
|
153.0
|
73.0
|
0.39
| |
including
|
80.0
|
99.5
|
19.5
|
0.47
|
114.5
|
147.0
|
32.5
|
0.43
| |
ICE11060
|
19.5
|
95.0
|
75.5
|
0.44
|
including
|
61.0
|
74.5
|
13.5
|
0.63
|
122.5
|
210.0
|
79.5
|
0.45
| |
ICE11061
|
10.5
|
41.0
|
30.5
|
0.38
|
including
|
13.5
|
24.0
|
10.5
|
0.49
|
66.5
|
71.0
|
6.0
|
0.46
| |
98.0
|
113.0
|
15.0
|
0.39
| |
125.0
|
131.0
|
6.0
|
1.56
| |
167.0
|
253.0
|
86.0
|
0.33
| |
including
|
171.5
|
188.0
|
16.5
|
0.53
|
including
|
170.0
|
177.5
|
7.5
|
0.77
|
244.0
|
253.0
|
9.0
|
0.48
| |
ICE11062
|
41.95
|
58.5
|
16.55
|
0.67
|
79.0
|
114.0
|
35.0
|
0.38
| |
including
|
86.5
|
94.0
|
7.5
|
0.71
|
Note: Reported Widths Are Drilled
Thicknesses. True Widths Are Not Known |
The 2011 diamond drill program completed 7,850 meters of
drilling in 23 holes. Due to complications by the assay lab,
samples were not assayed in the order submitted and returns
were delayed. Results from all 23 holes have now been
reported. In addition to this news release for
additional assay results see the Company's news releases
dated September 12, 2011, October 3, 2011 and November 21,
2011 (copies of which are available at .)
Hole ICE11054 (11054B) was placed as part of a fence of holes
to complete a laterally wide western section as part a series
of four parallel sections in the Northern flank of the
inferred resource estimate for Red Mountain. For
details on the inferred resource estimate see the Company's
news release dated December 2, 2010, a copy of which is
available at .
Holes ICE11050, ICE11051, ICE11052, ICE11057, and ICE11060
were drilled as extension and fill in holes on the northern
flank of the inferred resource estimate for Red Mountain and
beyond the results reported in the Company's news release
dated November 21, 2011. These holes extended the
mineralization 350 meters in a northern direction. The
holes encountered an altered phase of the intrusive rock
which extends beyond the drilled area, as indicated by
geochemical and geophysical measurements to the north of the
drilling pattern.
Holes ICE11059 and ICE11061 were infill holes extending the
south eastern portion of the inferred resource estimate for
Red Mountain. ICE11062, was a step out further to the east,
with the area open to future exploration.
All sample preparation and fire assaying work was performed
by Eco Tech Laboratory Limited ("Eco Tech") in Kamloops,
British Columbia. Eco Tech is an ISO 9001:2008
accredited laboratory and subsidiary of the Stewart Group of
worldwide laboratories, now owned and operated by ALS.
Initial fire assay with atomic absorption finish is completed
for all samples. Those samples running greater than
1g/t Au are automatically rerun. Those samples assaying
in excess of 3g/t Au are rerun using a gravimetric
finish. In addition to the internal laboratory
controls, the Company inserts two revolving standards in 3%
of the samples, inserts blanks in 4% of the samples, and a
duplicate sample is re-split every tenth sample.
Results reported herein have been checked and have undergone
quality control review.
About AM Gold Inc.
AM Gold Inc. is a publicly held resource company based in
Vancouver, Canada. The Company is listed on the TSX
Venture Exchange under the symbol "AMG" and is quoted on the
Frankfurt Exchange under the symbol "AMX". The Company
is focused on creating shareholder value through the
development of the Company's gold and gold-copper projects in
the Yukon and Peru while building a portfolio of quality
pipeline projects in North and South America. The
Company's Red Mountain gold property is located in central
Yukon Territory approximately 55 kilometres northwest of the
community of Mayo in the Tintina Gold Belt. The
Company's Red Mountain gold property consists of
approximately 3,600 hectares of contiguous quartz
claims. 52 of such quartz claims (1,168 hectares) are
held 80% by the Company with an option to acquire 100%
ownership and are subject to a net smelter returns royalty
and 131 quartz claims (2,430 hectares) are held 100% by the
Company. AM Gold's Pinaya gold-copper project is
located approximately 775 kilometres southeast of the city of
Lima, Peru in the Tintaya Gold Belt. The Company
maintains 100% ownership of 35 mining concessions covering
the 19,200 hectare Pinaya land position. AM Gold's
corporate offices are located Suite 605 - 369 Terminal
Avenue, Vancouver, British Columbia, V6A 4C4 (phone:
604-646-0067).
Dr. Stewart Jackson, P. Geol. a director of the
Company, and a Qualified Person within the meaning of
National Instrument 43-101 - Standards of Disclosure for
Mineral Projects, has reviewed and approved the
technical disclosure contained in this news release.
On behalf of AM Gold Inc.:
"John Fiorino"
John Fiorino
CEO
AM GOLD INC.
For further information on AM Gold, please contact Murray
Caruth at 1-604-646-0067 or by email at mcaruth@amgold.ca, or
visit AM Gold's website at: .
Neither the 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 release.
Cautionary Statement Regarding "Forward-Looking"
Information
Some of the statements contained in this press release are
forward-looking statements and information within the meaning
of applicable securities laws. Forward-looking statements and
information can be identified by the use of words such as
"expects", "intends", "is expected", "potential", "suggests"
or variations of such words or phrases, or statements that
certain actions, events or results "may", "could", "should",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements and information are not historical
facts and are subject to a number of risks and uncertainties
beyond AM Gold's control. Actual results and developments are
likely to differ, and may differ materially, from those
expressed or implied by the forward-looking statements
contained in this news release. Accordingly, readers should
not place undue reliance on forward-looking statements.
The Company undertakes no obligation to update publicly or
otherwise revise any forward-looking statements, except as
may be required by law.
distribué par | Ce noodl a été diffusé par AM Gold Inc. et initialement mise en ligne sur le site http://www.amgold.ca. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-12 22:45:30 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |