Accelerated drill program a "go" for early
2012
VANCOUVER,
Nov. 23, 2011 /PRNewswire/ - Jet
Gold Corp. (TSX-V: JAU) today announced positive results from
its October drill program at Big Hammer. Results from 3 of the 11
holes drilled produced grades of 13.37 g/t, 7.3 g/t
and 6.0 g/t gold, as per table following.
In announcing the results, Brad Moynes, JetGold President stated: "We
are very encouraged by our recent Big Hammer drill results.
The grams-per-ton gold grades are positive and we're planning to
continue an aggressive drilling program in early 2012."
Donald G. Strachan,
project QP added, "Geometries of altered host rock, altered and
sulfidic diorite intrusions and gold-bearing veins along Big
Hammer's quartz-chlorite-sulfide-telluride shear zones hold promise
for multiple shoots capable of supporting moderate-sized, long-term
gold production."
Summary drilling results: (see drill hole ID &
table following)
| 1) |
High grade gold achieved in BH11-003 was 13.37 g/t gold over
0.4 meters, 112 g/t silver and 69 g/t tellurium. |
| |
|
| 2) |
Three mineralized zones were encountered in BH11-006: 3.0 g/t
gold over 0.3 meters at 22.9 meters depth; 2.7 g/t gold over 0.8
meters with 40 g/t silver and 30 g/t tellurium; and 7.3 g/t gold
over 0.6 meters with 73 g/t tellurium. |
| |
|
| 3) |
The seventh drill hole encountered 6.0 g/t gold over 0.4
meters, 41 g/t silver and 74 g/t tellurium. |
Additionally, 102 drill core rock samples from Big
Hammer are being "fire assay-tested" for gold and "aqua regia
digestion-tested" for silver and tellurium. Results are expected in
early December.
JetGold's Big Hammer is a low elevation gold,
silver tellurium property, accessible year-round and located 13 km
southeast of Terrace, BC. It is
serviced by a paved public road, existing forest resource roads and
bridges and CN rail. Big Hammer was discovered in 2007 by the BC
Geologic Survey and classified as a "new gold
discovery."
| Anomalous 2011 drill
hole intercepts taken during drill operations |
|
| Drill hole ID |
From (m) |
To (m) |
Interval (m) |
Au (ppm) |
Ag (ppm) |
Te (ppm) |
| BH11-003 |
35.6 |
36.0 |
0.4 1 |
3.3 |
112 |
69 |
| " |
36.0 |
36.2 |
0.2 |
0.9 |
13 |
6 |
| BH11-006 |
21.9 |
22.9 |
1.0 |
0.0 |
1 |
0 |
| " |
22.9 |
23.2 |
0.3 |
3.0 |
17 |
21 |
| " |
23.2 |
24.6 |
1.4 |
0.0 |
0 |
0 |
| " |
25.8 |
26.7 |
0.9 |
0.0 |
1 |
0 |
| " |
26.7 |
27.5 |
0.8 |
2.7 |
40 |
30 |
| " |
27.5 |
28.5 |
1.0 |
0.0 |
0 |
0 |
| " |
36.0 |
37.0 |
1.0 |
0.0 |
0 |
0 |
| " |
37.6 |
38.6 |
1.0 |
0.6 |
12 |
7 |
| " |
38.0 |
38.6 |
0.6 |
7.3 |
16 |
73 |
| " |
38.6 |
39.6 |
1.0 |
1.2 |
16 |
14 |
| " |
39.6 |
40.5 |
0.9 |
0.4 |
4 |
4 |
| " |
40.5 |
41.2 |
0.7 |
0.1 |
2 |
1 |
| BH11-007 |
37.9 |
38.3 |
0.4 |
6.0 |
47 |
71 |
| " |
65.9 |
66.9 |
1.0 |
0.0 |
1 |
1 |
Don Strachan,
M.Sc, CPG is the qualified person for the Big Hammer
project.
JetGold is a Canadian resource exploration
company actively developing gold, silver, copper, zinc, molybdenum
and tellurium mineral resource properties in British Columbia, Canada. The company is
currently undertaking exploration of two precious metal properties
[Big Hammer and Silver Bay] and
one base metal property [Kshish].
| Big Hammer |
Gold/Silver/Tellurium (Au/Ag/Te) property located 13 km
southeast of Terrace |
| Silver Bay |
Silver/Zinc (Ag/Zn) property located in west central
BC |
| Kshish |
Copper/Molybdenum (Mo/Cu) property located 15 km northeast
of Terrace |
JetGold is strategically investing in the
Terrace and Smithers region of British Columbia, encouraged by the excellent
road access and close proximity to abundant power, water, CN Rail
lines, and the deep water container port at Prince Rupert. The Fairview Terminal at
Prince Rupert is an important part
of the Government of Canada's
"Asia-Pacific Gateway & Corridor Initiative" and the
Province of British Columbia's
"Pacific Gateway" strategy.
Additional information can be found at:
www.jetgoldcorp.com
On behalf of the Board of Directors,
Jet Gold Corp. (TSX.V: JAU)
"Brad J. Moynes"
Brad J. Moynes
President & CEO
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based on assumptions that financing and personnel will be available
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forward-looking information.
SOURCE Jet Gold Corp.