Jet Gold drills 0.4 meters of 13.37 g/t gold under 35 meters
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
Forward Looking Information: 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.
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.
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