August Metal Corp.: Trench Results of 12m of 2.92g/t Gold and 4m of 202.5g/t Silver from Las Lajas Gold Project, Mexico. Follow-
May 16 2011 - 4:29AM
Marketwired Canada
August Metal Corp. (TSX VENTURE:AGP) (the "Company" or "August") is pleased to
announce trench results for the Las Lajas Gold Project in southern Sonora State,
Mexico. The best results were 12 meters grading 2.92g/t Au in trench T-15 and 4
meters grading 202.5g/t Ag in trench T-27 in the El Terco zone, two separate
intervals of 12 meters grading 1.30g/t Au and 18 meters grading 1.06g/t Au in
trench T-32 in the El Peluchin West zone, 2 meters grading 8.00g/t Au in trench
T-42 in the Peluchin Northwest Extension and 38 meters of .733% Cu in trench
T-19 in the El Triunfo zone.
The Company is very pleased with the results of the trenching program on the Las
Lajas Gold Property. The program has clearly demonstrated the widespread nature
of gold mineralization at Las Lajas and has confirmed the potential for both
high grade structurally controlled gold deposits, and large, bulk tonnage gold
mineralization.
The trenching program was designed to test soil and rock geochemical anomalies
from 6 separate gold and copper exploration targets, outlined in prior
exploration programs by Minera Glamis and Minera Phelps Dodge in the 1990s and
by Minera Goldzone in 2008 to 2010. A total of 4,395 metres in 47 trenches were
excavated at the El Terco, El Peluchin, El Triunfo, Peluchin West, Peluchin
Northwest Extension and Las Avispas mineralized zones. See the Company website
for maps, and NI43-101 report at www.sedar.com for geological setting and
project overview.
El Terco
El Terco is a gold-rich silicified zone, hosted in green schist intercalated
with, and underlain by, limestone that trends NNE and dips moderately WNW.
Mineralization has been partially exposed over an area 600 meters long and 200
meters wide by numerous shallow artisanal mines and a 30 meter deep shaft (Pozo
del Gringo). Gold occurs in grey, silicified zones hosted in fractured
quartz-chlorite schist with minor illite and illite-smectite. Quartz
preferentially replaces limestone, and is generally massive with no epithermal
textures. Minera Goldzone collected 88 surface rock chip-channel and grab
samples from El Terco. The best overall result was 7.04 g/t Au across 1 m. Of
the 88 samples, 13 (15%) contained more than 1 g/t Au, and the average result of
all 88 surface rock samples was 0.64 g/t Au.
Just east of the principal workings, sub cropping green oxides in hematitic
quartz boulders yielded significant anomalous silver values for prospectors
utilizing a Niton XRF gun. Trench T-27 was cut through this prospect, and
yielded results of 202.5 g/t Ag, 0.27 g/t Au 0.25% Pb and 0.2% Zn across 4
meters.
Approximately 400 meters south of the main El Terco prospects, Trench T-14 cut 4
meters of 0.77 g/t Au, 1 g/t Ag and 0.3% As. Approximately 80 meters to the
south, this zone was intercepted again in Trench 15, which yielded results of
2.92 g/t Au and 1.6 g/t Ag across 12 meters.
El Peluchin
El Peluchin is a historic open-cut mine approximately 80 meters long, one to 3
meters wide, and has been stoped out to a depth of about 20 meters. Minera
Goldzone collected 10 rock samples from Peluchin Stope which had an average
value of 0.86 g/t Au and 3.9 g/t Ag. Mineralization occurs in grey quartz veins
hosted in muscovite schist. The veins strike northwesterly and dip moderately
southwest. Trench T-16, cut 60 meters NNW of the stope, intercepted two zones of
quartz veining: (i) 8 meters of 0.68 g/t Au, 0.6 g/t Ag and 0.6% As, and (ii) 2
meters of 0.79 g/t Au, 15.7 g/t Ag, 0.3% As and 0.7% Pb. A further 370 meters to
the NNW, these two zones were intercepted again in Trench T-26: (i) 0.55 g/t Au,
4.1 g/t Ag, and 0.6% As across 2 m and (ii) 0.76 g/t Au, 3.0 g/t Ag and 0.3% As
across 2 m.
El Triunfo
El Triunfo is defined by several other small prospect pits over 500 meters of
strike length along a NNW trending zone that dips moderately southwest.
Mineralization consists of copper-rich chrysocolla and chalcocite that is hosted
in foliation parallel fractures in green schist west of a monzodiorite porphyry.
The average result of 12 Goldzone rock samples from different prospects on the
El Triunfo structure was 0.38% Cu, 0.15% Zn, 5.9 g/t Ag and 0.1 g/t Au.
Trenching has confirmed continuity of the El Triunfo over a strike length of 160
meters in the central part of the zone. Overall, the best result was 0.73% Cu,
0.17% Zn, 1.9 g/t Ag and 0.07 g/t Au across 38 meters in Trench T-19.
El Peluchin West
In this area, trenching has discovered three new mineralized trends hosted in
oxidized greenschist: A, B and C (see website maps). Trend A is defined by
intercepts in Trenches Tr-1, Tr-2 and possibly Tr-12, located 540 meters
northwest of T-2. From Tr-1, results of 0.43 g/t Au and 1.2 g/t Ag occur across
9 meters. In Tr-2, 0.28 g/t Au, 4.8 g/t Ag and 0.11% Pb occurs across 16 meters.
In Tr-12, values of 1.87 g/t Au and 3.3 g/t Ag occur across 4 meters. Trend B is
more complex, with several anastomosing veins implied by the mineralized
intercepts. The structures are intruded by several felsic dykes. Overall, the
best result from Trend B is 22 meters of 0.5 g/t Au and 0.3 g/t Ag in Tr-8. The
zone is reasonably well defined over a 250 meter strike length to the northwest
and southeast. Trend C is parallel to, but 250 meters northeast of Trend B. The
best results from this area were two intercepts in Trench T-32: (i) 12 meters of
1.3 g/t Au and 0.4 g/t Ag, and (ii) 18 meters of 1.06 g/t Au with 0.6 g/t Ag and
0.15% Zn.
Peluchin Northwest Extension
This area is underlain by green schists with minor intercalated limestones that
are intruded by a granodiorite stock. The intrusive is porphyritic, and
feldspars are affected by minor kaolinite alteration. Locally, the intrusion is
cross-cut by red-grey quartz veins with abundant specularite and locally, native
gold. Some of the better grades in Trench T-38 were: 3.34 g/t Au and 0.3 g/t Ag
across 2 meters and 3.42 g/t Au and 1.5 g/t Ag across 2 meters. In the
greenschist west of the intrusion, good results were returned from Trench 42:
(i) 8 meters of 2.23 g/t Au and 5.8 g/t Ag and (ii) 2 meters of 8 g/t Au and 1.4
g/t Ag.
Las Avispas
Spectacular, easterly trending intermediate sulfidation epithermal quartz veins
and breccias outcrop discontinuously over a 1.3 kilometer long strike length
about 1.8 kilometers east of the El Terco Monument. The veins and breccias are
hosted in thinly bedded limestones and intercalated schists that strike easterly
and dip moderately to the north. In general, the mineralization is guided by the
stratigraphic orientation, but it is not confined to bedding/foliation planes.
There are two historic mine shafts located along the central 275 meters of an
ore shoot where most of the quartz veining and brecciation seems to be focused.
Minera Goldzone collected 8 rock samples from the Avispas Vein. The average
result of these was 70 g/t Ag, 0.66 g/t Au, 1.3% Zn, 0.3% Pb and 0.05% Cu. The
Company's Qualified Person sampled the dumps from the two shafts as the dump
material is fresher than the surface outcrops, and would hopefully be more
representative of the material targeted by the miners. The westernmost sample
contains 1103 g/t Ag and 0.79 g/t Au, and the easternmost sample contains
bonanza grades of 46.87 g/t Au and 56 g/t Ag.
SWIR spectrometry of samples from the Abejas and other epithermal style veins to
the north shows that the alteration mineralogy of the samples is mainly illite,
as would be expected in a high-grade vein, although alunite (aluminum sulfate)
was found in one sample, and barite (barium sulfate) was found in the sample
from the eastern dump on the Abejas Vein.
Trench T-30 intercepted two zones in the Avispas area: (i) 27.8 g/t Ag, 0.1 g/t
Au, 0.5% Pb, 0.8% Zn across 2 m and (ii) 50 g/t Ag, 0.1 g/t Au, 0.3% Pb and 0.2%
Zn across 2 m.
Analytical results from trench samples from Las Lajas, Navojoa, Sonora, Mexico
----------------------------------------------------------------------------
Trench From To Width Au Ag As Cu Pb Zn
ID (m) (m) (m) (g/t) (g/t) (ppm) (ppm) (ppm) (ppm)
----------------------------------------------------------------------------
T-1 33 42 9 0.43 1.2 218 67 25 444
----------------------------------------------------------------------------
T-2 72 88 16 0.28 4.8 1,427 90 1,120 421
----------------------------------------------------------------------------
T-6 30 38 8 0.89 0.2 263 14 9 27
----------------------------------------------------------------------------
T-7 12 14 2 1.38 0.2 502 21 11 53
----------------------------------------------------------------------------
T-7 20 30 10 0.22 0.2 106 3 11 13
----------------------------------------------------------------------------
T-8 14 36 22 0.50 0.3 472 21 12 49
----------------------------------------------------------------------------
T-8 64 70 6 0.38 0.2 477 49 8 98
----------------------------------------------------------------------------
T-8 110 114 4 0.75 0.4 757 72 13 144
----------------------------------------------------------------------------
T-8 122 126 4 3.72 0.7 495 102 34 191
----------------------------------------------------------------------------
T-9 74 78 4 0.81 0.2 436 50 9 113
----------------------------------------------------------------------------
T-12 48 52 4 1.87 3.3 1,222 372 26 114
----------------------------------------------------------------------------
T-13 16 32 16 0.44 0.2 168 38 3 70
----------------------------------------------------------------------------
T-13 72 90 18 0.24 0.4 979 27 8 16
----------------------------------------------------------------------------
T-14 36 40 4 0.77 1.0 3,052 379 8 64
----------------------------------------------------------------------------
T-15 30 42 12 2.92 1.6 460 244 7 30
----------------------------------------------------------------------------
T-16 20 28 8 0.68 0.6 5,975 128 16 35
----------------------------------------------------------------------------
T-16 42 44 2 0.79 15.7 2,870 120 6,750 87
----------------------------------------------------------------------------
T-17 6 54 48 0.03 0.5 109 1,625 9 1506
----------------------------------------------------------------------------
T-18 12 16 4 0.03 0.8 24 13,100 13 1,232
----------------------------------------------------------------------------
T-19 10 48 38 0.07 1.9 124 7,330 37 1,728
----------------------------------------------------------------------------
T-20 28 32 4 0.01 0.2 115 3,185 4 1,585
----------------------------------------------------------------------------
T-26 78 80 2 0.55 4.1 5,520 215 285 246
----------------------------------------------------------------------------
T-26 130 132 2 0.76 3.0 2,870 96 77 258
----------------------------------------------------------------------------
T-27 20 24 4 0.27 202.5 268 191 2,455 1,907
----------------------------------------------------------------------------
T-30 0 2 2 0.10 27.8 360 414 5,030 8,190
----------------------------------------------------------------------------
T-30 34 36 2 0.10 50.0 162 311 2,990 1,530
----------------------------------------------------------------------------
T-32 46 58 12 1.30 0.4 288 144 7 465
----------------------------------------------------------------------------
T-32 64 82 18 1.06 0.6 257 309 4 1,526
----------------------------------------------------------------------------
T-35 32 36 4 0.67 0.3 34 32 4 52
----------------------------------------------------------------------------
T-36 86 89 3 0.81 0.2 307 44 10 116
----------------------------------------------------------------------------
T-36 92 95 3 0.42 0.2 815 34 6 66
----------------------------------------------------------------------------
T-36 105 109 4 0.73 0.3 203 27 5 46
----------------------------------------------------------------------------
T-36 139 141 2 0.56 0.2 1,240 89 2 45
----------------------------------------------------------------------------
T-37 84 87 3 1.16 0.2 19 2 7 21
----------------------------------------------------------------------------
T-38 64 66 2 3.34 0.3 206 6 12 21
----------------------------------------------------------------------------
T-38 88 90 2 1.28 0.4 313 13 39 63
----------------------------------------------------------------------------
T-38 122 124 2 3.42 1.5 1,020 83 94 435
----------------------------------------------------------------------------
T-42 14 22 8 2.23 5.8 2,107 382 271 132
----------------------------------------------------------------------------
T-42 66 68 2 1.61 0.8 7,620 34 24 51
----------------------------------------------------------------------------
T-42 102 104 2 8.00 1.4 770 167 49 36
----------------------------------------------------------------------------
T-42 112 114 2 0.96 0.3 2 27 50 52
----------------------------------------------------------------------------
T-45 0 3 3 1.15 3.4 304 37 25 57
----------------------------------------------------------------------------
The 1,500 meter diamond drilling program announced on April 13, 2011 is well
underway and is expected to be increased to 2,200 meters. The drill program is
designed to test targets defined and untested by previous operators, and targets
generated by the recently completed trenching program on the Las Lajas Gold
Project.
Comments on Sampling, Assaying and QA/QC
This news release was reviewed by Michelle Robinson, MASc., P.Eng., August Metal
Corp.'s independent Qualified Person as defined by NI 43-101. Trenches were
mechanically excavated using a backhoe Cat 420 D 4x4 to a depth ranging from a
few centimeters on rocky ridges to 3 meters in overburden covered areas. The
trenches were mapped by a geologist, and then sampled at two or three meter
intervals, mainly from west to east. Sample weights ranged from 3 to 6
kilograms. The samples were labeled, sealed in plastic bags, and then collected
in grain sacks. Blind standard and blank samples were inserted at random
intervals into the sample stream. From the field, the samples were shipped by
courier to ALS Chemex de Mexico S.A. de C.V. in Hermosillo Sonora for
preparation. The samples were weighed, logged, crushed, pulverized then
fine-crushed. The samples were then split with a riffle splitter and pulverized
to 85% less than 75 microns. Prepared pulps were then sent to Chemex's main lab
in Vancouver, British Columbia, Canada for analysis. Gold was determined using a
fire assay of a 50 gram pulp with and AA finish (Au-AA24). Base metals and
silver were determined using ICP-AES methods on a 0.5 gram pulp dissolved in hot
aqua regia (ME-ICP41). Chemex's quality control system complies with the
requirements for the International Standard ISO 9001:2000 by monitoring
analytical accuracy and precision with the insertion and analysis of blanks,
reference standards and duplicate samples. The qualified person has taken random
duplicates of anomalous and non-anomalous samples from the trenches to verify
the general tenor of the results.
Reza Mohammed BSc., President
August Metal Corp.
Certain disclosure in this release constitute forward-looking statements that
are subject to numerous risks, uncertainties and other factors relating to the
Company's operation as a mineral exploration company that may cause future
results to differ materially from those expressed or implied by those
forward-looking statements. Readers are cautioned not to place undue reliance on
these statements as they involve known and unknown risks, uncertainties and
other factors that may cause a change in assumptions and the actual outcomes and
estimates may be materially different from the estimated or anticipated future
results, achievements or positions expressed or implied by those forward-looking
statements. The Company disclaims any intentions or obligations to update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise.
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