Equipment mobilized & activated for immediate start
VANCOUVER, Sept. 28, 2011 /PRNewswire/ - Jet Gold Corp. (TSX-V: JAU) today announced the commencement of drilling on their Big Hammer gold property near Terrace, BC. The company has retained Orofino Drilling Ltd. to manage a drilling program of up to 3500m and drilling equipment is now being moved on-site. Donald G. Strachan (M.Sc, CPG, QP), JetGold's Consulting Geologist, will oversee and direct the program.
Recent positive assay results (see September 20, 2011 release) on Big Hammer's best exposed 380 vein have triggered the drilling program. The number of assays with gold values above 10 grams per tonne - some as high as 93 grams per tonne - indicated grades of gold that warranted further and immediate drilling and exploration.
The 380 vein, which produced the high grade values, is a low-angle quartz sulfide-telluride vein that ranges up to approximately 1.5 meters in thickness with up to 2.0 meters of mid and low-grade. The drilling program will focus on the strike and dip of this vein, as well as probable shoots along this vein, to determine the extent of economic value.
Drilling Program Summary
The best grade mineralization now in sight in both the high-graded and representative channeled roadcrop and trenchcrop samples, if continued at underground along strike and dip, is suggestive of underground-mineable grades. The Phase One drilling pattern is designed to infer this mineralization to depth and along strike to develop tonnage. Phase One will consist of a series of closely spaced, shallow development grid drill holes at 20-meter spacings followed by a series of wider-spaced exploration/development holes at wider spacings.
The low-angle, dilational thickness and continuity of these multiple, well-mineralized veins are the subject of the Phase One drill holes. The geologic character of these veins implies continuity and multiplicity between whatever structural and lithologic controls are present at Big Hammer. In essence, we have shown that gold-silver-tellurium mineralization is intense along the exposed portions of these structures.
The 380 vein is only one of several low-angle veins seen in the few roadcuts made so far on this large property. The other roadcrops higher up the mountain (at 615 and 630 elevation) are also mineralized with gold, silver and tellurium, and represent additional exploration targets. Trenching will be conducted on these higher elevation veins to further expand and provide new drill targets.
JetGold's disclosures of a technical or scientific nature in this news release have been reviewed and approved by Donald G. Strachan (M.Sc, CPG), JetGold's Consulting Geologist, who serves as a Qualified Person under the definition of National Instrument 43-101.
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 mining districts of British Columbia based on excellent road access, abundant power and water supply and close proximity to CN Rail lines and the Fairview Terminal deep water container port in Prince Rupert. The port 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 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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Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.
Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
SOURCE Jet Gold Corp.