Guinness Exploration Receives Yukon Permit Approvals for Trenching and Drilling at Nantawa Project
WELLINGTON, New Zealand, July 20 /PRNewswire-FirstCall/ -- Guinness Exploration Inc. ("Company") (OTC Bulletin Board: GNXP) reported that the Company has received its Class 3 permit for trenching and drilling activities at the Nantawa Project from the Yukon Energy, Mines and Resources licensing authority.
Chief Geologist John Hiner said, "We're extremely pleased to report our Class 3 permit approval, which allows us to begin trenching and drilling operations. We're well prepared for this development. Our camp is fully established and our drill and trenching equipment are currently onsite. We will begin construction of drill pads immediately and the mobilization of our drilling crew. We expect to complete both steps within the next few days and be drilling by week's end."
Mr. Hiner continued, "Over the last couple of weeks, we've completed an accurate differential GPS survey and utilized the survey data to locate all known previous trenches, historic drill holes, and other data pertinent to mineralization on the property. The data have been compiled and assembled in our GIS database and the work we've completed on site, which entailed accurate re-location of trench and drill hole data, has allowed us to accurately define the location of previously delineated mineralized zones."
Mr. Hiner concluded, "Based on our work to date, we have established several gold and silver drill targets and have mapped the exact coordinates for additional trenching and our initial drill program. Trenching is planned to confirm and extend mineralized zones. Confirmation and step out drill holes have also been planned and staked and we'll initiate drilling once our crew is deployed onsite."
About Guinness Exploration
Guinness Exploration Inc. trades on the OTC-BB under the symbol GNXP. The Company was incorporated in Nevada in 2005 and incorporated its subsidiary Nantawa Resources Inc. in Yukon, Canada in 2009. In November, 2009, Guinness entered an agreement to acquire mineral claims for the Mount Nansen and the Tawa gold and silver exploration properties (collectively the 'Nantawa Project') in the Yukon and is now developing an exploration program. The Nantawa Project is situated in the prolific Tintina Gold Belt, a 1,200 km long area extending from northern British Columbia, through the Yukon Territory and into southwest Alaska. The Tintina Gold Belt includes such world-class, multi-million ounce gold deposits as Pogo, Fort Knox, True North, and Donlin Creek. The Nantawa Project claims consist of 203 full or fractional claims with a total area of 3,136.43 square hectares located in the South Central part of the Yukon, 180 km Northwest of Whitehorse and 60 km west of the Village of Carmacks. A complete independent geological report received by Guinness, dated November 27, 2009, can be viewed on Guinness' website: www.guinnessexploration.com.
For more information please contact Investor Relations at phone: 1-800-841-2788
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Safe Harbour Statement under the Private Securities Litigation Reform Act of 1995
Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. In this press release, the expressions: "We will begin construction of drill pads immediately and the mobilization of our drilling crew. We expect to complete both steps within the next few days and be drilling by week's end," and "Trenching is planned to confirm and extend mineralized zones. Confirmation and step out drill holes have also been planned and staked and we'll initiate drilling once our crew is deployed onsite," are forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to mining operations, changes in the worldwide price of gold, silver, or certain other commodities; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; employee relations; contests over title to properties; and the risks involved in the exploration, development and mining business. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE Guinness Exploration Inc.
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