International Samuel Exploration Progress Report (TSX VENTURE: ISS)
July 20 2011 - 3:29PM
Marketwired
International Samuel Exploration Corp. (TSX VENTURE: ISS) -
The Company is pleased to report that the crews for the surface
phase of exploration have been mobilized to the Company's 100%
owned NIV and OMEGA Projects.
These two projects are located in the Omineca Mining Division in
the southern Toodoggone and Johanson Lake region. Both the NIV gold
project and the Omega porphyry copper-gold project have had
recently completed airborne magnetometer surveys. The Company is in
receipt of this data and has designed a surface exploration program
to evaluate the highest priority anomalies.
On the Omega porphyry copper-gold property a historical IP
survey identified an open ended resistivity and chargeability
anomaly with a coincident copper geochemical anomaly. This
resistivity anomaly was the subject of 2 drill holes in 1982 which
intersected 0.24% copper over 46 meters.
The 2011 exploration program will place an IP grid over top of
the airborne magnetic low anomaly and a deep penetrating IP survey
will be conducted to identify drill targets.
The airborne magnetometer survey over top of the NIV claim group
has identified large structures that are coincident with historical
soil geochemistry copper gold anomalies. Also a grab sample DD1-20
returned 7.03 g/t Au, 2853 g/t Ag, 8.31% Cu (GSC memoir 251) from
within this soil geochemistry anomaly.
A program of prospecting sampling and mapping has been planned
for this phase 1 program for the NIV claim group.
On another matter, the Company announces that further to its
stock option plan, it is granting options by an aggregate of
714,483 shares to various directors, officers, employees and
consultants of the Company. The options are exercisable at $0.12
per share for a term of two years from the date of grant.
Derrick Strickland, P.Geo., a person qualified under NI 43-101
has approved this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson, President
Safe Harbor Statement: The Company relies upon litigation
protection for "forward-looking statements". The Company undertakes
no obligation to update these forward-looking statements if
management's beliefs, estimates, obligations or other factors
should change.
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.
Contacts: International Samuel Exploration Corp. 604-718-5454 or
Toll Free: 1-888-500-4587 Advanture Capital Partners Investor
Relations 604-563-5028
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