VANCOUVER, British Columbia–(BUSINESS WIRE)–
Newton Gold Corp. (TSX-V NWG) is pleased to announce that drilling at
the Newton Project, located approximately 100 kilometres west of
Williams Lake, has intersected 399 metres of continuous gold
mineralization averaging 0.5 g/t gold – the longest intercept to date.
The 1,487 square kilometre Newton Project is a 20:80 Joint Venture
between Newton Gold and Amarc Resources Ltd. (TSX-V AHR). Amarc is the
operator of the project.
In addition the Company announces that diamond core drilling has now
restarted at Newton with two rigs working. Drilling is planned to
continue until the deposit is fully delineated.
Holes 11053, 11054 and 11055 continue to intersect wide intervals of
gold mineralization hosted by altered felsic volcanics (see table below)
and bring the number of holes drilled with important gold results to 46
These holes are located over an area that currently measures 900 metres
by 600 metres and is open to expansion in several directions. The age
and geological characteristics of the gold mineralization at Newton
demonstrate striking similarities to the mineralization at New Gold
Inc’s Blackwater deposit located approximately 175 km to the north.
Incl.
From
To
Int.
Au
Ag
AuEQ1
ID
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
11053
79
94
15
0.47
1.9
0.50
11053
166
187
21
0.65
1.4
0.67
11053
235
271
36
0.87
1.5
0.90
11053
incl.
235
238
3
3.58
1.4
3.60
11053
and
256
259
3
4.89
3.5
4.95
11053
445
475
30
0.64
1.0
0.66
11054
43
442
399
0.50
2.4
0.54
11055
30
151
121
0.70
2.4
0.74
11055
incl.
78
151
73
0.86
2.0
0.90
11055
238
286
48
0.57
2.8
0.62
1. Gold equivalent calculations use metal prices of Au US$1200/oz and Ag
US$20/oz. Metallurgical recoveries and net smelter returns are assumed
to be 100%.
2. All holes are drilled vertical.
3. Widths reported are drill widths, such that true thicknesses are
unknown. All assay intervals represent length weighted averages.
“The long mineralized intersection in drill hole 11054 shows that we are
dealing with a very large mineralized system that remains open in
several directions,” stated Mark McLeary, president of Newton Gold.
All of the reported intervals of mineralization are hosted in a thick
altered felsic ash tuff containing intervals of possible comagmatic
porphyry intrusive units. Alteration is principally quartz-sericite +/-
clays and carbonate minerals. Sulphides are dominantly pyrite and
marcasite with minor amounts of chalcopyrite, sphalerite, galena and
arsenopyrite.
The Newton property is located some 100 kilometres west of the City of
Williams Lake in a region characterized by gently rolling hills. The
district is well served by existing transportation and power
infrastructure and a skilled workforce, which support a number of
operating mines, as well as late-stage mineral development and
exploration projects. Newton is located some 175 kilometres south of New
Gold’s Blackwater gold deposit (Indicated gold resource of 164 million
tonnes at an average grade of 1.03 g/t containing 5.42 million ounces
and an inferred gold resource of 69 million tonnes at an average grade
of 0.84 g/t containing 1.86 million ounces – New Gold news release dated
Feb. 2, 2012) in what appear to be similar host rocks and geological
setting.
About Newton Gold Corp.
Newton Gold Corp. is a British Columbia focused exploration company with
two advanced exploration projects. The Company has an experienced
management team with a growth strategy to develop a diversified
portfolio of exploration projects that can be taken into production. The
Company’s main objective is to add shareholder value through cost
efficient exploration, strategic acquisitions, joint ventures, and
effective marketing while maintaining a lower risk profile through
project diversification and sound financial management.
Ian Foreman, P.Geo, is Newton Gold’s Qualified Person, according to
National Instrument 43-101, for the Newton Project and is responsible
for the technical data contained in this news release.
Project management, on-site supervision and QA/QC protocols are carried
out by Amarc Resources’ personnel. As part of a comprehensive QA/QC
program, one standard and also one field replicate (duplicate) are
inserted into the sample stream in each group of 20 samples, as well as
one or more field blanks in each analytical batch.
Sample preparation and analysis for the Newton project is done at ISO
9001:2008 accredited Acme Analytical Laboratories (Vancouver) Ltd. All
samples are assayed for gold by 30 g fire assay fusion with Inductively
Coupled Plasma – Emission Spectroscopy (ICP-ES) finish. Silver and 33
additional elements are determined for all samples by Aqua Regia
digestion, followed by ICP-ES and ICP Mass Spectroscopy (ICP-MS) finish.
All over-limit gold (greater than 10 g/t) are re-assayed by 30 g fire
assay fusion with a gravimetric finish.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark McLeary,
President
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 release.
Forward Looking Statements:
Statements in this press release, other than purely historical
information, including statements relating to the Company’s future plans
and objectives or expected results, may include forward-looking
statements. Forward-looking statements are based on numerous assumptions
and are subject to all of the risks and uncertainties inherent in
resource exploration and development. As a result, actual results may
vary materially from those described in the forward-looking statements.
Article source: http://finance.yahoo.com/news/399-metres-averaging-0-5-183200822.html