California Gold Mining Inc. (“California Gold” or the “Company”)
(TSX-V: CGM) is pleased to announce that following the previously
concluded Phase I drill program, the Company is poised to commence
its Phase II drill program at its flagship Fremont Project (the
“Project”) in Mariposa County, California.
The Phase II drill program is scheduled to start on December 13,
2013 and is expected to be completed by mid-January, 2014. The
program will consist of six to eight holes totalling 3,000 – 4,000
ft of diamond drilling. The main objectives of the drill program
are as follows:
- To generate enough representative rock
material from each of the three metallurgical domains that have
been recently identified at the Project in order to initiate
preliminary economic analysis (PEA)-level metallurgical testing.
The metallurgical domains are described below.
- To help increase the confidence in the
geological and gold-grade continuity within the Pine Tree-Josephine
deposit, which is the most advanced of the four deposits at the
Fremont project. The other three deposits are Queen
Specimen-Succedo, Chicken Gulch and Crown Point.
The completion of the Phase II drill program, and the subsequent
metallurgical test work, is considered by Company management to be
a major milestone in the development of the Project. The results of
the metallurgical testing will be used to identify potentially
viable processing technologies suitable to the different ore types
at the Project. Additionally, the results will be used as a
stepping stone for an eventual process flow-sheet for the Project.
The Phase II drill program is not intended, and will not be
sufficient by itself, to generate a maiden NI 43-101 compliant
resource estimate for the Project. Provided sufficient funds are
available, the Company anticipates being in a position to commence
a third phase of drilling following satisfactory completion of
Phase II drilling. Results from the Phase III drill program, along
with results from the Phase I program, the Phase II program, and
the extensive historical drilling, will support preparation of a
maiden NI 43-101 compliant resource estimate for the Project.
As part of the Phase II program, the Company plans to drill six
holes initially, with the possibility of drilling two additional
holes in case the total rock material from the initial holes is not
enough to initiate metallurgical testing. The average depth of the
holes is expected to be approximately 500 ft each. All of the Phase
II drilling will be PQ-sized (3.3” diameter core), which is
significantly larger than the HQ-sized (2.5” diameter core)
drilling conducted at the Project during the Phase I drill program.
The larger core size has been chosen in order to maximize core
recovery and rock mass per foot of drilling.
The Company’s technical team has chosen the location and
attributes of each of the eight proposed drill holes in
consultation with the Company’s recently contracted independent
metallurgical consultant BOMENCO Inc., and the Company’s
independent technical consultant Tetra Tech WEI. The collar
locations of the eight drill holes and the corresponding drill
hole-specifications are illustrated in Appendices A and B,
respectively.
Following a site-visit to the Project by BOMENCO in November,
2013, a total of three distinct rock assemblages were identified as
metallurgically significant at the Project. These include a)
sulphide replacement, b) quartz-hosted mineralization and c) oxide
cap. BOMENCO has estimated that a 200 kg sample from each of the
three metallurgical domains should be sufficient to fulfil the
requirements of a PEA-level metallurgical testing program, which
will include head sample characterization, grind hardness and
sensitivity, determination of gravity and flotation recovery
potential, direct cyanidation and/or cyanidation of flotation
concentrates before or after oxidation, and heap leach recovery
potential of the oxide cap material.
A detailed request for proposal (RFP) for the metallurgical test
program is being prepared in order to identify and select the most
suitable testing laboratory for the program. BOMENCO Inc. has been
retained by the Company as an independent consultant for the entire
duration of the metallurgical test program.
About California Gold Mining Inc.
California Gold Mining Inc. (formerly Upper Canada Gold Corp.
TSX-V:UCC) is focused on developing its flagship Fremont gold
project in Mariposa County, California. The project consists of a
land package totaling 3,351 acres of historically producing gold
mines. The Fremont Property lies within California’s prolific
Mother Lode Gold Belt that has produced over 50 million oz of gold
historically. The Company purchased the property in March 2013.
The laboratory being used for assay analyses is American Assay
Laboratories Inc. (“AAL”) based in Sparks, Nevada (ISO/IEC
17025:2005 Certified). The Company’s on-site Quality Assurance
& Quality Control (“QA/QC”) protocols, and AAL’s assay QA/QC
protocols have received third-party verification by Paul Daigle,
P.Geo., a Qualified Person (“QP”) as defined under NI 43-101,
representing Tetra Tech WEI Inc.
Mr. Vishal Gupta, the Company's Director, Corporate Development
has reviewed and approved this press release. Mr. Gupta is a P.Geo.
registered with the Association of Professional Geoscientists of
Ontario (APGO), and a Qualified Person (QP) as defined under
National Instrument 43-101 regulations.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of California Gold contains statements that
constitute “forward-looking statements”. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause California Gold's actual results,
performance or achievements, or developments in the industry to
differ materially from the anticipated results, performance or
achievements expressed or implied by such forward-looking
statements. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words “expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or
that events or conditions “will”, “would”, “may”, “could” or
“should” occur. Forward-looking statements in this document include
statements regarding planned exploration work on the Company’s
Fremont Property and in particular, the Company's ability to carry
out the Phase III drill program, which is contingent upon, among
other things, satisfactory results from the Phase II program, the
Company's ability to raise sufficient funds to complete the Phase
III program and other economic conditions. There can be no
assurance that such statements will prove to be accurate. Actual
results and future events could differ materially from those
anticipated in such statements, and readers are cautioned not to
place undue reliance on these forward looking statements. Any
factor could cause actual results to differ materially from
California Gold's expectations. California Gold undertakes no
obligation to update these forward looking statements in the event
that management's beliefs, estimates or opinions, or other factors,
should change, unless otherwise required by law.
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.
For further information contact:
Michael ChurchillPresident647-977-9267 x101
Vishal GuptaDirector, Corporate Development647-977-9267 x333
Website: www.caligold.ca
Appendix
A
Plan Map Depicting Collar Locations for the
ProposedPhase II Diamond Drill Holes
To view the Plan Map, click onto the following
link:http://www.usetdas.com/maps/californiagold/californiagolddec92013003.jpg
Appendix
BSpecifications for the Proposed Phase II Diamond
Drill Holes
To view the Specifications, click onto the
following
link:http://www.usetdas.com/maps/californiagold/californiagolddec92013005.gif
California Gold Mining Inc.Michael Churchill, 647-977-9267
x101PresidentorVishal Gupta, 647-977-9267 x333Director, Corporate
DevelopmentWebsite: www.caligold.ca
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