Teranga Gold Corporation ("Teranga" or the "Company") (TSX:TGZ;
OTCQX:TGCDF) is pleased to announce that the most recent drill
program on its Golden Hill property in Burkina Faso, West Africa
has returned dozens of encouraging gold intersections from surface
and strong, widespread mineralization along trend and to depth at
three advanced prospects.
The latest step-out drill results from the Ma
Main, Ma North and Jackhammer Hill prospects also outline excellent
continuity of multiple gold zones within each of the highest
priority prospects at Golden Hill. These drill results will be
included in the initial resource estimate for Golden Hill to be
released in early 2019. Teranga has a 100% interest in Golden Hill
following the purchase of its previous joint venture partners’
interest.
HIGHLIGHT RESULTS
Ma Main Prospect
- 8 m @ 14.23 g/t gold,
including 1 m @ 94.05 g/t gold (uncut) from 120 m down
hole depth (DHD) and 11 m @ 3.05 g/t gold, including 3 m @
5.68 g/t gold from 131 m DHD (GHDD-460) (see Table 1 in
Appendix 1 for uncut and cut grade intervals for GHDD-460)
- 3 m @ 10.20 g/t gold, including 1 m @ 28.33 g/t
gold from 45 m DHD and 9 m @ 4.05 g/t
gold from 117 m DHD (GHRC-126)
- 8 m @ 9.44 g/t gold, including 1 m @ 68.00 g/t
gold (uncut) from 62 m DHD (GHDD-445) (see Table 1 in
Appendix 1 for uncut and cut grade intervals for GHDD-445)
- 3 m @ 6.55 g/t gold, including 1 m @ 18.39 g/t
gold from 126 m DHD and 9 m @ 3.55 g/t
gold from 136 m DHD (GHDD-467)
Ma North Prospect
- 13 m @ 2.25 g/t gold, including 6 m @ 3.57 g/t
gold from 88 m DHD (GHDD-418)
- 15 m @ 2.28 g/t gold, including 5 m @ 4.49 g/t
gold from 110 m DHD (GHDD-455)
- 13 m @ 4.38 g/t gold, including 5 m @ 7.69 g/t
gold from 118 m DHD (GHDD-456)
Jackhammer Hill Prospect
- 12 m @ 5.63 g/t gold, including 1 m @ 35.02 g/t
gold (uncut) from 30 m DHD (GHRC-086) (see Table 3 in
Appendix 1 for uncut and cut grade intervals for GHRC-086)
- 15 m @ 8.82 g/t gold, including 3 m @ 32.89 g/t
gold (uncut) from 35 m DHD (GHRC-094) (see Table 3 in
Appendix 1 for uncut and cut grade intervals for GHRC-094)
- 8 m @ 4.37 g/t gold,
including 3 m @ 9.60 g/t gold from 152 m DHD
(GHDD-422)
“We are very encouraged by these drill results,
both the along-trend and to-depth correlation of gold
mineralization that we are seeing at multiple prospects throughout
the Golden Hill property,” said Paul Chawrun, Chief Operating
Officer. “With approximately 70,000 metres drilled to date,
along with the geologic modelling and metallurgical test work
underway, the project continues to build momentum and support our
confidence that Golden Hill could be Teranga’s third gold mine in
West Africa.”
Golden Hill includes nine advanced exploration
prospects all within a 7.5-kilometre radius (see Figure 1 in
Appendix 2) which would be conducive to a centralized processing
facility. Recent results from Ma Main, Ma North and Jackhammer Hill
add to the strong drill results announced to date at these and the
other prospects at the Golden Hill project.
Over the remainder of the year, drilling will
continue on a number of the advanced prospects, including Ma Main,
Ma North and C-Zone.
“We are moving forward rapidly with our
aggressive exploration program at Golden Hill,” stated David Mallo,
Vice President, Exploration. “A busy year of resource definition
drilling is drawing to a close at the project. Geologic modeling,
preliminary metallurgical test work programs, and base line
environmental and social studies are underway in advance of our
initial resource estimation early next year. Exploration activities
are progressing well, and we are excited to see where it leads
us.”
Upon satisfaction of conditions precedent
relating to the project’s initial preliminary economic assessment,
Teranga has secured $25 million in debt financing to advance the
Golden Hill project through to feasibility.
GOLDEN HILL PROPERTY
The Golden Hill property is comprised of three
adjacent exploration permits covering 470 km2 in southwest Burkina
Faso in the central part of the Houndé Greenstone Belt. This belt
hosts a number of high-grade gold discoveries, including the Siou,
Yaramoko and Houndé deposits, the latter being contiguous with
Golden Hill.
This news release provides an update on
exploration drilling results from a number of prospects recently
evaluated as part of ongoing advanced exploration programs at
Golden Hill.
Recent drilling was undertaken at Ma Main, Ma
North and Jackhammer Hill prospects as part of a property-wide
resource evaluation program. Please refer to Appendix 1 for
significant results (Tables 1-3) and Appendix 2 for plan maps and
representative sections related to this phase of our exploration
drilling program. Cumulative results from all Golden Hill drilling
are available on the Company’s website www.terangagold.com under
Exploration.
Ma Main Prospect: Strong Gold Mineralization
Demonstrating Excellent Correlation
The Ma Main prospect remains the largest in size
and is the most extensively drilled of those being evaluated
currently at Golden Hill, with a current strike length of
approximately 1.5 kilometres. The lesser drilled Ma East
prospect ties on directly to the Ma Main and adds a further 1.2
kilometres of strike extent to this continuous mineralized system.
The primary gold mineralization at Ma is hosted within two
extensive brecciated fault zones (BZ-1 and BZ-2) that demonstrate
excellent continuity throughout the areas drilled to-date. Of
further note is the favorable geometry of both BZ-1 and BZ-2 which
are spatially proximal, generally parallel and have moderate dip
orientations which are advantageous for a future mining scenario.
As drilling has progressed, additional mineralized zones have
been intersected, predominantly in the hanging wall of BZ-1, which
further enhances the upside potential at this advanced
prospect.
Representative sections including some recent
drill results are shown in Figures 3, 4 and 5 in Appendix
2.
Recent notable diamond drill results at Ma Main
are outlined in Table 1 in Appendix 1.
Ma North Prospect: New Drilling Results Extends
Mineralization Further Along Trend and to
Depth
Our most recent Ma North diamond drill results
continue to confirm that a third and fourth well-mineralized
breccia zone (BZ-3 and BZ-4) exist within the Ma Structural Complex
where previous drilling had identified BZ-1 and BZ-2 at Ma Main
(see Figure 6 in Appendix 2). Comparatively, drilling at Ma
North is still at an early-stage when compared to more advanced Ma
Main area of the Ma Structural Complex. Similar to Ma Main,
hole-to-hole correlation is demonstrating excellent continuity of
mineralization both along trend and to drilled depths. Additional
drilling is planned to further evaluate Ma North, especially along
trend and to depth focusing on the eastern extension area where
recent drilling has intersected a series of sub-parallel
breccia-hosted mineralized horizons that remain open to further
expansion.
A representative section including some recent
drill results is shown in Figure 7 in Appendix 2.
Recent notable diamond drill results at Ma North
are outlined in Table 2 in Appendix 1.
Jackhammer Hill Prospect: High-Grade
Mineralization Hosting Visible Gold
Recent drilling at the Jackhammer Hill prospect
has focused on defining along trend expansion potential, depth
extensions below previously identified shallow mineralization and
confirmation of the geological interpretation.
The gold mineralized zones identified thus far
at Jackhammer Hill comprise a series of steep, southeast dipping
horizons hosted within an altered and sheared diorite intrusive
unit. Drilling has been directed along an approximate 1,350-metre
strike extent (Figure 8 in Appendix 2), predominantly to vertical
depths of approximately 125 metres. A 200-metre long central
portion of the Jackhammer Hill mineralization includes a number of
previously announced high-grade intervals hosting visible gold
within a broad altered and mineralized zone.
A representative section including some recent
drill results are shown in Figure 9 in Appendix 2.
Recent notable diamond drill results at
Jackhammer Hill are outlined in Table 3 in Appendix
1.
Competent Persons
Statements
Teranga's Burkina Faso exploration programs,
corresponding to the drill holes being reported herein, were
managed by Peter Mann, FAusIMM. Mr. Mann was a full time employee,
recently retired, of Teranga and is not "independent" within the
meaning of National Instrument 43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”). Mr. Mann has sufficient experience
which is relevant to the style of mineralization and type of
deposit under consideration and to the activity which he is
undertaking to qualify as a "Qualified Person" under NI 43-101. The
technical information contained in this news release relating to
exploration results are based on, and fairly represents,
information compiled by Mr. Mann. Mr. Mann has verified and
approved the data disclosed in this release, including the
sampling, analytical and test data underlying the information. The
RC and diamond core samples are assayed at the BIGS Global
Laboratory in Ouagadougou, Burkina Faso. Mr. Mann has consented to
the inclusion in this news release of the matters based on his
compiled information in the form and context in which it appears
herein.
Forward-Looking
Statements
This press release contains certain statements
that constitute forward-looking information within the meaning of
applicable securities laws ("forward-looking statements"), which
reflects management's expectations regarding Teranga's future
growth and business prospects (including the timing and development
of new deposits and the success of exploration activities) and
opportunities. Wherever possible, words such as “objective to”,
“likely”, “intend to”, “potential”, “belief”, “believe”, “expects”,
“estimates”, “plans”, “anticipated”, “ability” and similar
expressions or statements that certain actions, events or results
“should”, or "will" have been used to identify such forward-looking
information. Forward-looking statements include, without
limitation, all disclosure regarding possible events, conditions or
results of operations, future economic conditions and anticipated
courses of action. Although the forward-looking statements
contained in this press release reflect management's current
beliefs based upon information currently available to management
and based upon what management believes to be reasonable
assumptions, Teranga cannot be certain that actual results will be
consistent with such forward-looking statements. Such
forward-looking statements are based upon assumptions, opinions and
analysis made by management in light of its experience, current
conditions and its expectations of future developments that
management believe to be reasonable and relevant but that may prove
to be incorrect. These assumptions include, among other things, the
ability to obtain any requisite governmental approvals, the
accuracy of sampling, analytical and test data underlying the
exploration results included herein, gold price, exchange rates,
fuel and energy costs, future economic conditions, and anticipated
future estimates of free cash flow. Teranga cautions you not to
place undue reliance upon any such forward-looking statements.
The risks and uncertainties that may affect
forward-looking statements include, among others: the inherent
risks involved in exploration and development of mineral
properties, including government approvals and permitting, changes
in economic conditions, changes in the worldwide price of gold and
other key inputs, changes in mine plans and other factors, such as
project execution delays, many of which are beyond the control of
Teranga, as well as other risks and uncertainties which are more
fully described in Teranga's Annual Information Form
dated March 29, 2018, and in other filings of Teranga with
securities and regulatory authorities which are available
at www.sedar.com. Teranga does not undertake any obligation to
update forward-looking statements should assumptions related to
these plans, estimates, projections, beliefs and opinions change.
Nothing in this document should be construed as either an offer to
sell or a solicitation to buy or sell Teranga securities. All
references to Teranga include its subsidiaries unless the context
requires otherwise.
About Teranga
Teranga is a multi-jurisdictional West African
gold company focused on production and development as well as the
exploration of more than 6,400 km2 of land located on
prospective gold belts. Since its initial public offering in
2010, Teranga has produced more than 1.5 million ounces of gold at
its Sabodala operation in Senegal. Focused on diversification
and growth, the Company is advancing construction of its second
producing gold mine, Wahgnion, which is located in Burkina Faso, as
well as carrying out extensive exploration programs in three West
African countries: Burkina Faso, Côte d’Ivoire and
Senegal. The Company had more than 4.0 million ounces of gold
reserves as of June 30, 2018. Teranga applies a rigorous
capital allocation framework for its investment decisions to
execute on its growth strategy relying on a combination of cash on
the balance sheet, free cash flow from operations and debt.
Steadfast in its commitment to set the benchmark
for responsible mining, Teranga operates in accordance with the
highest international standards and aims to act as a catalyst for
sustainable economic, environmental, and community development as
it strives to create value for all of its stakeholders.
Teranga is a member of the United Nations Global Compact and a
leading member of the multi-stakeholder group responsible for the
submission of the first Senegalese Extractive Industries
Transparency Initiative revenue report.
Contact Information
Richard Young
President & CEO
T: +1 416 594 0000 | E: ryoung@terangagold.com
Trish MoranHead of Investor RelationsT: +1 416 607 4507 | E:
tmoran@terangagold.com
APPENDIX 1
Table 1: Ma Main Prospect –
Selected Drill Highlights
|
|
|
|
|
|
|
|
|
|
Hole # |
Northing |
Easting |
Elevation |
Azimuth |
Dip |
EOH (m) |
Interval (m) |
Core length (m) |
Grade (g/t Au) |
GHDD-445 |
1237559 |
452165 |
400 |
021 |
-45 |
84 |
62-70 |
8 |
9.44 * |
|
|
|
Including |
|
|
|
68-69 |
1 |
68.00 * |
|
|
|
|
|
|
|
62-70 |
8 |
4.70 ** |
|
|
|
Including |
|
|
|
68-69 |
1 |
30.00 ** |
|
|
|
|
|
|
|
76-78 |
2 |
2.23 |
|
|
|
|
|
|
|
|
|
|
GHDD-446 |
1237595 |
452182 |
395 |
021 |
-45 |
65 |
48-51 |
3 |
1.13 |
|
|
|
|
|
|
|
|
|
|
GHDD-447 |
1237573 |
452204 |
395 |
021 |
-45 |
80 |
46-47 |
1 |
3.63 |
|
|
|
|
|
|
|
54-56 |
2 |
3.55 |
|
|
|
|
|
|
|
|
|
|
GHDD-448 |
1237605 |
452222 |
399 |
021 |
-45 |
50 |
29-34 |
5 |
3.09 |
|
|
|
|
|
|
|
|
|
|
GHDD-449 |
1237591 |
452251 |
400 |
021 |
-45 |
50 |
14-15 |
1 |
10.46 |
|
|
|
|
|
|
|
32-36 |
4 |
2.47 |
|
|
|
|
|
|
|
|
|
|
GHDD-451 |
1237484 |
452270 |
408 |
021 |
-45 |
130 |
10-13 |
3 |
2.32 |
|
|
|
|
|
|
|
|
|
|
GHDD-457 |
1237570 |
451875 |
380 |
025 |
-45 |
190 |
100-102 |
2 |
3.47 |
|
|
|
|
|
|
|
147-148 |
1 |
3.37 |
|
|
|
|
|
|
|
|
|
|
GHDD-458 |
1237570 |
451940 |
383 |
025 |
-45 |
167 |
132-142 |
10 |
1.91 |
|
|
|
Including |
|
|
|
135-138 |
3 |
3.89 |
|
|
|
|
|
|
|
|
|
|
GHDD-459 |
1237526 |
451962 |
384 |
025 |
-45 |
180 |
119-122 |
3 |
2.38 |
|
|
|
|
|
|
|
157-162 |
5 |
2.57 |
|
|
|
|
|
|
|
|
|
|
GHDD-460 |
1237536 |
452017 |
386 |
025 |
-45 |
164 |
92-94 |
2 |
1.87 |
|
|
|
|
|
|
|
114-115 |
1 |
5.10 |
|
|
|
|
|
|
|
120-128 |
8 |
14.23 * |
|
|
|
Including |
|
|
|
126-127 |
1 |
94.05 * |
|
|
|
|
|
|
|
120-128 |
8 |
6.23 ** |
|
|
|
Including |
|
|
|
126-127 |
1 |
30.00 ** |
|
|
|
|
|
|
|
131-142 |
11 |
3.05 |
|
|
|
Including |
|
|
|
134-137 |
3 |
5.68 |
|
|
|
|
|
|
|
|
|
|
GHDD-461 |
1237470 |
452028 |
390 |
025 |
-45 |
200 |
125-131 |
6 |
2.57 |
|
|
|
|
|
|
|
139-147 |
8 |
2.42 |
|
|
|
|
|
|
|
172-173 |
1 |
4.41 |
|
|
|
|
|
|
|
|
|
|
GHDD-462 |
1237443 |
452105 |
395 |
025 |
-45 |
181 |
118-122 |
4 |
1.27 |
|
|
|
|
|
|
|
126-135 |
9 |
2.15 |
|
|
|
|
|
|
|
172-173 |
1 |
3.85 |
|
|
|
|
|
|
|
|
|
|
GHDD-463 |
1237418 |
452134 |
405 |
025 |
-45 |
194 |
122-135 |
13 |
2.13 |
|
|
|
Including |
|
|
|
131-134 |
3 |
4.67 |
|
|
|
|
|
|
|
156-157 |
1 |
6.17 |
|
|
|
|
|
|
|
|
|
|
GHDD-464 |
1237298 |
452156 |
417 |
025 |
-45 |
212 |
20-22 |
2 |
1.43 |
|
|
|
|
|
|
|
131-138 |
7 |
2.17 |
|
|
|
|
|
|
|
141-143 |
2 |
2.26 |
|
|
|
|
|
|
|
149-150 |
1 |
2.68 |
|
|
|
|
|
|
|
|
|
|
GHDD-465 |
1237229 |
452289 |
432 |
025 |
-45 |
215 |
168-174 |
6 |
2.77 |
|
|
|
|
|
|
|
|
|
|
GHDD-466 |
1237265 |
452308 |
431 |
025 |
-45 |
170 |
133-141 |
8 |
2.38 |
|
|
|
Including |
|
|
|
134-136 |
2 |
5.87 |
|
|
|
|
|
|
|
|
|
|
GHDD-467 |
1237242 |
452338 |
428 |
025 |
-45 |
161 |
126-129 |
3 |
6.55 |
|
|
|
Including |
|
|
|
128-129 |
1 |
18.39 |
|
|
|
|
|
|
|
136-145 |
9 |
3.55 |
|
|
|
|
|
|
|
|
|
|
GHDD-468 |
1237105 |
452563 |
401 |
025 |
-45 |
182 |
142-145 |
3 |
1.07 |
|
|
|
|
|
|
|
155-157 |
2 |
1.19 |
|
|
|
|
|
|
|
|
|
|
GHDD-469 |
1237097 |
452646 |
389 |
025 |
-45 |
179 |
65-68 |
3 |
1.28 |
|
|
|
|
|
|
|
84-87 |
3 |
1.54 |
|
|
|
|
|
|
|
118-127 |
9 |
1.06 |
|
|
|
|
|
|
|
159-163 |
4 |
2.02 |
|
|
|
|
|
|
|
|
|
|
GHDD-470 |
1237098 |
452690 |
391 |
025 |
-45 |
130 |
60-71 |
11 |
1.57 |
|
|
|
Including |
|
|
|
61-65 |
4 |
2.74 |
|
|
|
|
|
|
|
114-117 |
3 |
1.57 |
|
|
|
|
|
|
|
|
|
|
GHRC-096 |
1237379 |
452403 |
436 |
025 |
-45 |
70 |
11-15 |
4 |
2.66 |
|
|
|
|
|
|
|
|
|
|
GHRC-097 |
1237279 |
452359 |
426 |
025 |
-45 |
125 |
94-100 |
6 |
4.58 |
|
|
|
Including |
|
|
|
96-98 |
2 |
9.40 |
|
|
|
|
|
|
|
|
|
|
GHRC-098 |
1237378 |
452360 |
436 |
025 |
-45 |
60 |
27-30 |
3 |
1.98 |
|
|
|
|
|
|
|
35-42 |
7 |
2.66 |
|
|
|
Including |
|
|
|
37-39 |
2 |
7.12 |
|
|
|
|
|
|
|
|
|
|
GHRC-099 |
1237450 |
452063 |
388 |
025 |
-45 |
192 |
136-145 |
9 |
1.18 |
|
|
|
Including |
|
|
|
138-140 |
2 |
3.43 |
|
|
|
|
|
|
|
|
|
|
GHRC-100 |
1237573 |
451986 |
385 |
025 |
-45 |
135 |
66-69 |
3 |
1.25 |
|
|
|
|
|
|
|
102-104 |
2 |
1.98 |
|
|
|
|
|
|
|
120-122 |
2 |
1.68 |
|
|
|
|
|
|
|
|
|
|
GHRC-101 |
1237608 |
451961 |
384 |
025 |
-45 |
109 |
48-50 |
2 |
2.90 |
|
|
|
|
|
|
|
105-108 |
3 |
4.56 |
|
|
|
|
|
|
|
|
|
|
GHRC-102 |
1237591 |
451923 |
382 |
025 |
-45 |
156 |
73-78 |
5 |
1.96 |
|
|
|
|
|
|
|
91-93 |
2 |
12.32 |
|
|
|
|
|
|
|
131-134 |
3 |
1.33 |
|
|
|
|
|
|
|
|
|
|
GHRC-103 |
1237732 |
451988 |
385 |
025 |
-45 |
78 |
11-20 |
9 |
1.52 |
|
|
|
Including |
|
|
|
16-20 |
4 |
2.63 |
|
|
|
|
|
|
|
|
|
|
GHRC-104 |
1237609 |
451891 |
381 |
025 |
-45 |
150 |
66-69 |
3 |
4.65 |
|
|
|
|
|
|
|
90-94 |
4 |
1.19 |
|
|
|
|
|
|
|
130-134 |
4 |
2.25 |
GHRC-109 |
1236500 |
453146 |
367 |
025 |
-55 |
95 |
48-54 |
6 |
1.66 |
|
|
|
|
|
|
|
|
|
|
GHRC-110 |
1236544 |
453135 |
366 |
025 |
-55 |
84 |
6-8 |
2 |
3.06 |
|
|
|
|
|
|
|
33-36 |
3 |
2.77 |
|
|
|
|
|
|
|
55-56 |
1 |
2.51 |
|
|
|
|
|
|
|
|
|
|
GHRC-111 |
1236596 |
453053 |
368 |
025 |
-55 |
100 |
40-41 |
1 |
1.94 |
|
|
|
|
|
|
|
|
|
|
GHRC-112 |
1236687 |
453010 |
369 |
025 |
-55 |
95 |
43-51 |
8 |
1.54 |
|
|
|
Including |
|
|
|
44-46 |
2 |
4.03 |
|
|
|
|
|
|
|
|
|
|
GHRC-113 |
1236721 |
453065 |
368 |
025 |
-45 |
75 |
27-31 |
4 |
1.67 |
|
|
|
|
|
|
|
|
|
|
GHRC-114 |
1236826 |
453011 |
366 |
025 |
-55 |
50 |
20-26 |
6 |
1.32 |
|
|
|
|
|
|
|
|
|
|
GHRC-115 |
1236797 |
452884 |
372 |
025 |
-55 |
100 |
79-87 |
8 |
1.05 |
|
|
|
|
|
|
|
|
|
|
GHRC-117 |
1236905 |
452883 |
374 |
025 |
-55 |
60 |
15-21 |
6 |
1.08 |
|
|
|
|
|
|
|
|
|
|
GHRC-118 |
1236904 |
452842 |
372 |
025 |
-55 |
95 |
28-30 |
2 |
1.19 |
|
|
|
|
|
|
|
33-36 |
3 |
1.77 |
|
|
|
|
|
|
|
|
|
|
GHRC-120 |
1237177 |
452685 |
405 |
025 |
-45 |
110 |
37-39 |
2 |
1.31 |
|
|
|
|
|
|
|
40-44 |
4 |
1.07 |
|
|
|
|
|
|
|
|
|
|
GHRC-121 |
1237183 |
452775 |
395 |
025 |
-45 |
72 |
12-15 |
3 |
1.12 |
|
|
|
|
|
|
|
|
|
|
GHRC-122 |
1237094 |
452601 |
396 |
025 |
-45 |
177 |
87-88 |
1 |
3.63 |
|
|
|
|
|
|
|
103-106 |
3 |
5.83 |
|
|
|
Including |
|
|
|
104-105 |
1 |
16.05 |
|
|
|
|
|
|
|
110-111 |
1 |
2.58 |
|
|
|
|
|
|
|
150-152 |
2 |
3.71 |
|
|
|
|
|
|
|
|
|
|
GHRC-123 |
1237228 |
452378 |
420 |
025 |
-45 |
147 |
130-135 |
5 |
3.04 |
|
|
|
|
|
|
|
|
|
|
GHRC-124 |
1237603 |
451848 |
379 |
025 |
-45 |
177 |
44-45 |
1 |
30.95 * |
|
|
|
|
|
|
|
44-45 |
1 |
30.00 ** |
|
|
|
|
|
|
|
83-85 |
2 |
1.30 |
|
|
|
|
|
|
|
86-88 |
2 |
1.37 |
|
|
|
|
|
|
|
107-111 |
4 |
1.34 |
|
|
|
|
|
|
|
137-146 |
9 |
5.17 |
|
|
|
|
|
|
|
|
|
|
GHRC-125 |
1237715 |
451784 |
376 |
025 |
-45 |
123 |
17-18 |
1 |
2.02 |
|
|
|
|
|
|
|
|
|
|
GHRC-126 |
1237692 |
451735 |
375 |
025 |
-45 |
170 |
45-48 |
3 |
10.20 |
|
|
|
Including |
|
|
|
45-46 |
1 |
28.33 |
|
|
|
|
|
|
|
90-93 |
3 |
3.69 |
|
|
|
Including |
|
|
|
90-91 |
1 |
9.77 |
|
|
|
|
|
|
|
112-114 |
2 |
1.63 |
|
|
|
|
|
|
|
117-126 |
9 |
4.05 |
|
|
|
|
|
|
|
158-159 |
1 |
2.93 |
|
|
|
|
|
|
|
|
|
|
GHRC-127 |
1237678 |
451775 |
377 |
025 |
-45 |
162 |
47-49 |
2 |
3.77 |
|
|
|
|
|
|
|
117-119 |
2 |
2.08 |
|
|
|
|
|
|
|
|
|
|
GHRC-128 |
1237141 |
452534 |
406 |
025 |
-45 |
145 |
80-81 |
1 |
23.74 |
|
|
|
|
|
|
|
|
|
|
GHRC-129 |
1237224 |
452485 |
417 |
025 |
-55 |
138 |
86-93 |
7 |
1.26 |
|
|
|
|
|
|
|
|
|
|
GHRC-130 |
1237305 |
452532 |
422 |
025 |
-55 |
97 |
11-15 |
4 |
2.24 |
|
|
|
|
|
|
|
|
|
|
GHRC-131 |
1237178 |
452819 |
384 |
025 |
-45 |
60 |
1-17 |
17 |
1.28 |
|
|
|
Including |
|
|
|
12-16 |
4 |
2.83 |
|
|
|
|
|
|
|
|
|
|
GHRC-132 |
1237371 |
452226 |
426 |
025 |
-53 |
140 |
116-119 |
3 |
2.03 |
|
|
|
|
|
|
|
133-139 |
6 |
3.65 |
|
|
|
|
|
|
|
136-137 |
1 |
17.39 |
Intervals calculated with a 0.4 g/t Au cut-off and 2
metres maximum internal dilution. True widths are unknown. UTM's
are WGS84-30N. Intervals with grade x thickness (gram x metre) of
10 or higher are highlighted in bold. *Uncut grades**Cut
grades – individual assays above 30.0 g/t gold are cut to 30.0 g/t
gold |
|
|
|
|
|
|
|
|
|
|
Table 2: Ma North Prospect – Selected
Drill Highlights
|
|
|
|
|
|
|
|
|
|
Hole # |
Northing |
Easting |
Elevation |
Azimuth |
Dip |
EOH (m) |
Interval (m) |
Core length (m) |
Grade (g/t Au) |
GHDD-412 |
1237848 |
452761 |
414 |
310 |
-50 |
101 |
31-32 |
1 |
1.63 |
|
|
|
|
|
|
|
59-61 |
2 |
2.18 |
|
|
|
|
|
|
|
|
|
|
GHDD-416 |
1237921 |
451750 |
376 |
010 |
-50 |
173 |
162-165 |
3 |
4.48 |
|
|
|
|
|
|
|
|
|
|
GHDD-417 |
1237977 |
452011 |
384 |
010 |
-45 |
61 |
30-34 |
4 |
1.83 |
|
|
|
|
|
|
|
|
|
|
GHDD-418 |
1237878 |
452127 |
407 |
010 |
-45 |
113 |
79-83 |
4 |
1.90 |
|
|
|
|
|
|
|
88-101 |
13 |
2.25 |
|
|
|
Including |
|
|
|
89-95 |
6 |
3.57 |
|
|
|
|
|
|
|
|
|
|
GHDD-419 |
1237801 |
452421 |
425 |
010 |
-45 |
152 |
89-92 |
3 |
1.28 |
|
|
|
|
|
|
|
141-146 |
5 |
2.63 |
|
|
|
Including |
|
|
|
142-144 |
2 |
4.98 |
|
|
|
|
|
|
|
|
|
|
GHDD-420 |
1237779 |
452465 |
433 |
010 |
-50 |
179 |
101-103 |
2 |
2.01 |
|
|
|
|
|
|
|
|
|
|
GHDD-441 |
1237791 |
452510 |
427 |
010 |
-45 |
110 |
75-76 |
1 |
1.59 |
|
|
|
|
|
|
|
|
|
|
GHDD-443 |
1237769 |
452587 |
431 |
010 |
-45 |
116 |
90-91 |
1 |
2.12 |
|
|
|
|
|
|
|
|
|
|
GHDD-453 |
1237880 |
451997 |
384 |
010 |
-60 |
120 |
93-95 |
2 |
1.26 |
|
|
|
|
|
|
|
106-111 |
5 |
2.79 |
|
|
|
|
|
|
|
|
|
|
GHDD-454 |
1237865 |
452029 |
387 |
010 |
-65 |
128 |
115-117 |
2 |
1.68 |
|
|
|
|
|
|
|
|
|
|
GHDD-455 |
1237844 |
452123 |
419 |
010 |
-65 |
155 |
110-125 |
15 |
2.28 |
|
|
|
Including |
|
|
|
119-124 |
5 |
4.49 |
|
|
|
|
|
|
|
|
|
|
GHDD-456 |
1237820 |
452156 |
420 |
010 |
-50 |
152 |
103-107 |
4 |
1.78 |
|
|
|
|
|
|
|
118-131 |
13 |
4.38 |
|
|
|
Including |
|
|
|
120-125 |
5 |
7.69 |
|
|
|
|
|
|
|
|
|
|
GHRC-105 |
1237826 |
452191 |
422 |
010 |
-50 |
150 |
18-19 |
1 |
3.17 |
|
|
|
|
|
|
|
113-120 |
7 |
3.58 |
|
|
|
Including |
|
|
|
115-117 |
2 |
8.00 |
|
|
|
|
|
|
|
|
|
|
GHRC-106 |
1237864 |
452096 |
405 |
010 |
-45 |
120 |
94-96 |
2 |
2.11 |
|
|
|
|
|
|
|
99-104 |
5 |
4.62 |
|
|
|
Including |
|
|
|
99-101 |
2 |
8.41 |
|
|
|
|
|
|
|
|
|
|
GHRC-107 |
1237984 |
451969 |
382 |
010 |
-45 |
60 |
30-31 |
1 |
2.21 |
|
|
|
|
|
|
|
36-42 |
6 |
2.23 |
|
|
|
|
|
|
|
|
|
|
GHRC-108 |
1238007 |
451931 |
382 |
010 |
-45 |
50 |
36-39 |
3 |
4.05 |
|
|
|
|
|
|
|
|
|
|
Intervals calculated with a 0.4 g/t Au cut-off and 2
metres maximum internal dilution. True widths are unknown. UTM's
are WGS84-30N. Intervals with grade x thickness (gram x
metre) of 10 or higher are highlighted in bold. |
|
|
|
|
|
|
|
|
|
|
Table 3: Jackhammer Hill Prospect – Selected Drill
Highlights
|
|
|
|
|
|
|
|
|
|
Hole # |
Northing |
Easting |
Elevation |
Azimuth |
Dip |
EOH (m) |
Interval (m) |
Core length (m) |
Grade (g/t Au) |
GHDD-422 |
1229838 |
452876 |
333 |
315 |
-55 |
185 |
42-44 |
2 |
1.48 |
|
|
|
|
|
|
|
102-115 |
13 |
1.28 |
|
|
|
Including |
|
|
|
105-107 |
2 |
4.11 |
|
|
|
|
|
|
|
134-137 |
3 |
1.43 |
|
|
|
|
|
|
|
139-140 |
1 |
1.64 |
|
|
|
|
|
|
|
152-160 |
8 |
4.37 |
|
|
|
Including |
|
|
|
153-156 |
3 |
9.60 |
|
|
|
|
|
|
|
|
|
|
GHDD-423 |
1229884 |
452885 |
333 |
315 |
-55 |
150 |
87-90 |
3 |
4.17 |
|
|
|
|
|
|
|
114-115 |
1 |
1.74 |
|
|
|
|
|
|
|
|
|
|
GHDD-425 |
1230001 |
452965 |
336 |
315 |
-55 |
140 |
6-7 |
1 |
3.70 |
|
|
|
|
|
|
|
42-44 |
2 |
2.03 |
|
|
|
|
|
|
|
|
|
|
GHDD-426 |
1229949 |
453016 |
342 |
315 |
-55 |
226 |
58-60 |
2 |
18.79 * |
|
|
|
|
|
|
|
58-60 |
2 |
15.82 ** |
|
|
|
|
|
|
|
115-118 |
3 |
3.34 |
|
|
|
|
|
|
|
122-125 |
3 |
6.49 |
|
|
|
|
|
|
|
131-134 |
3 |
2.56 |
|
|
|
|
|
|
|
151-154 |
3 |
1.75 |
|
|
|
|
|
|
|
180-185 |
5 |
2.34 |
|
|
|
|
|
|
|
192-195 |
3 |
1.12 |
|
|
|
|
|
|
|
200-202 |
2 |
1.04 |
|
|
|
|
|
|
|
204-206 |
2 |
1.11 |
|
|
|
|
|
|
|
|
|
|
GHDD-427 |
1230013 |
452980 |
337 |
315 |
-55 |
135 |
33-35 |
2 |
1.41 |
|
|
|
|
|
|
|
|
|
|
GHDD-428 |
1229964 |
453029 |
344 |
315 |
-55 |
221 |
145-148 |
3 |
1.11 |
|
|
|
|
|
|
|
182-185 |
3 |
1.26 |
|
|
|
|
|
|
|
187-204 |
17 |
1.83 |
|
|
|
Including |
|
|
|
189-192 |
3 |
3.93 |
|
|
|
And |
|
|
|
196-199 |
3 |
3.57 |
|
|
|
|
|
|
|
|
|
|
GHDD-429 |
1229843 |
452955 |
340 |
310 |
-55 |
242 |
161-168 |
7 |
2.27 |
|
|
|
Including |
|
|
|
165-167 |
2 |
5.34 |
|
|
|
|
|
|
|
|
|
|
GHDD-430 |
1229891 |
452992 |
345 |
315 |
-55 |
260 |
117-118 |
1 |
4.41 |
|
|
|
|
|
|
|
211-227 |
16 |
2.05 |
|
|
|
Including |
|
|
|
211-214 |
3 |
4.14 |
|
|
|
|
|
|
|
|
|
|
GHDD-432 |
1229322 |
452518 |
312 |
325 |
-50 |
140 |
16-17 |
1 |
2.55 |
|
|
|
|
|
|
|
90-94 |
4 |
1.65 |
|
|
|
|
|
|
|
|
|
|
GHDD-433 |
1229288 |
452473 |
311 |
325 |
-50 |
125 |
98-100 |
2 |
2.96 |
|
|
|
|
|
|
|
117-118 |
1 |
7.75 |
|
|
|
|
|
|
|
|
|
|
GHDD-436 |
1229962 |
452971 |
337 |
315 |
-55 |
182 |
60-61 |
1 |
3.28 |
|
|
|
|
|
|
|
120-122 |
2 |
1.61 |
|
|
|
|
|
|
|
147-149 |
2 |
1.90 |
|
|
|
|
|
|
|
160-162 |
2 |
2.02 |
|
|
|
|
|
|
|
|
|
|
GHDD-437 |
1230131 |
452957 |
338 |
315 |
-50 |
179 |
44-46 |
2 |
1.11 |
|
|
|
|
|
|
|
149-155 |
6 |
1.01 |
|
|
|
|
|
|
|
|
|
|
GHDD-440 |
1229682 |
452790 |
327 |
315 |
-55 |
120 |
82-84 |
2 |
2.54 |
|
|
|
|
|
|
|
106-107 |
1 |
4.36 |
GHDD-471 |
1229638 |
452766 |
320 |
315 |
-55 |
119 |
85-88 |
3 |
1.45 |
|
|
|
|
|
|
|
|
|
|
GHDD-472 |
1229615 |
452741 |
319 |
315 |
-55 |
116 |
79-81 |
2 |
1.51 |
|
|
|
|
|
|
|
|
|
|
GHDD-474 |
1229368 |
452531 |
313 |
325 |
-50 |
101 |
8-9 |
1 |
2.73 |
|
|
|
|
|
|
|
62-64 |
2 |
1.31 |
|
|
|
|
|
|
|
68-69 |
1 |
4.10 |
|
|
|
|
|
|
|
|
|
|
GHRC-086 |
1229935 |
452830 |
327 |
315 |
-55 |
72 |
30-42 |
12 |
5.63 * |
|
|
|
Including |
|
|
|
30-36 |
6 |
10.47 * |
|
|
|
Including |
|
|
|
30-31 |
1 |
35.02 * |
|
|
|
|
|
|
|
30-42 |
12 |
5.21 ** |
|
|
|
Including |
|
|
|
30-36 |
6 |
9.64 ** |
|
|
|
Including |
|
|
|
30-31 |
1 |
30.00 ** |
|
|
|
|
|
|
|
47-49 |
2 |
1.22 |
|
|
|
|
|
|
|
58-60 |
2 |
5.19 |
|
|
|
|
|
|
|
|
|
|
GHRC-087 |
1229342 |
452436 |
311 |
325 |
-50 |
78 |
28-30 |
2 |
2.81 |
|
|
|
|
|
|
|
|
|
|
GHRC-088 |
1229379 |
452481 |
313 |
325 |
-50 |
80 |
14-21 |
7 |
1.86 |
|
|
|
|
|
|
|
21-22 |
No |
Sample |
|
|
|
|
|
|
|
22-23 |
1 |
4.57 |
|
|
|
|
|
|
|
|
|
|
GHRC-089 |
1229467 |
452572 |
314 |
310 |
-55 |
60 |
15-20 |
5 |
1.70 |
|
|
|
|
|
|
|
|
|
|
GHRC-090 |
1229493 |
452606 |
315 |
320 |
-55 |
50 |
28-36 |
8 |
1.03 |
|
|
|
|
|
|
|
|
|
|
GHRC-091 |
1229415 |
452605 |
314 |
325 |
-55 |
110 |
89-95 |
6 |
1.28 |
|
|
|
Including |
|
|
|
93-95 |
2 |
2.67 |
|
|
|
|
|
|
|
|
|
|
GHRC-093 |
1230206 |
452875 |
337 |
315 |
-55 |
75 |
43-46 |
3 |
1.47 |
|
|
|
|
|
|
|
54-58 |
4 |
1.31 |
|
|
|
|
|
|
|
|
|
|
GHRC-094 |
1229958 |
452863 |
328 |
310 |
-45 |
70 |
26-32 |
6 |
1.58 |
|
|
|
|
|
|
|
35-50 |
15 |
8.82 * |
|
|
|
Including |
|
|
|
36-41 |
5 |
22.21 * |
|
|
|
Including |
|
|
|
36-39 |
3 |
32.89 * |
|
|
|
|
|
|
|
35-50 |
15 |
8.20 ** |
|
|
|
Including |
|
|
|
36-41 |
5 |
20.36 ** |
|
|
|
Including |
|
|
|
36-39 |
3 |
29.80 ** |
|
|
|
|
|
|
|
|
|
|
Intervals calculated with a 0.4 g/t Au cut-off and 2
metres maximum internal dilution. True widths are unknown. UTM's
are WGS84-30N. Intervals with grade x thickness (gram x metre)
of 10 or higher are highlighted in bold. *Uncut grades**Cut
grades – individual assays above 30.0 g/t gold are cut to 30.0 g/t
gold |
|
|
|
|
|
|
|
|
|
|
APPENDIX 2
Figure 1: Golden Hill Property – Prospect Location Plan
Map
http://www.globenewswire.com/NewsRoom/AttachmentNg/e9125af7-92d0-4fdb-86fd-f47070c9a1ff
Figure 2: Ma Main - Plan Map
http://www.globenewswire.com/NewsRoom/AttachmentNg/397920de-3c9d-4dc6-8b72-4a2d05077d73
Figure 3: Ma Main Prospect - Representative Drill
Section (A-A’ 0+60 E)
http://www.globenewswire.com/NewsRoom/AttachmentNg/2c761442-787e-4a37-a125-69db12c4aa05
Figure 4: Ma Main Prospect - Representative Drill
Section (B-B’ 2+40 E)
http://www.globenewswire.com/NewsRoom/AttachmentNg/6aa41e2d-ee51-4ea9-90d2-d5d950134322
Figure 5: Ma Main Prospect – Representative Section
(C-C’ 6+60 E)
http://www.globenewswire.com/NewsRoom/AttachmentNg/2ae1887f-b07d-4f39-819d-39c475ce86c1
Figure 6: Ma North Prospect - Plan
Map
http://www.globenewswire.com/NewsRoom/AttachmentNg/1e2c29f3-0e77-48d4-a751-ed3b442034d4
Figure 7: Ma North Prospect – Representative Drill
Section
http://www.globenewswire.com/NewsRoom/AttachmentNg/1b894180-3ccd-4fac-a16e-86c4148175ab
Figure 8: Jackhammer Hill Prospect – Plan
Map
http://www.globenewswire.com/NewsRoom/AttachmentNg/f2dbb100-5f53-43c4-857c-8a453b7032cb
Figure 9: Jackhammer Hill Prospect –
Representative Section
http://www.globenewswire.com/NewsRoom/AttachmentNg/10241b88-39eb-44ab-8da3-463630f1142d