August Metal Corp: Drilling at Las Lajas Gold Project, Mexico Intersects 5.0 Meters Grading 2.0 g/t Gold Including 1.6 Meters...
June 29 2011 - 7:15AM
Marketwired
August Metals Corp. (TSX VENTURE: AGP) is pleased to provide drill
core results for the phase one drill program at the Las Lajas gold
project in southern Sonora State, Mexico. A total of 18 holes
(2,754 meters) were drilled to test a number of targets defined and
untested by previous operators, and targets generated by the
recently completed mechanical trenching program on the 16,311
hectare Las Lajas gold project (see Company news release dated May
16, 2011). See the company website for maps and NI 43-101.
Five holes (LJ11-01 - LJ11-05) were oriented to test the
Peluchin West area where trenching had discovered three new
mineralized trends (A, B and C) in oxidized greenschist locally
intruded by felsic dykes. The best result from this area was in
hole LJ11-04 which returned 3.05 meters grading 2.31 g/t gold.
Five holes (LJ11-06 - LJ11-10) were drilled to test the El
Terco, a gold-rich silicified zone, hosted in greenschist
intercalated with, and underlain by, limestone that trends
north-northeast and dips moderately west-northwest. 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. The best result of the five widely spaced holes at El Terco
was 1.4 meters grading 2.22 g/t gold in hole LJ11-07.
Two holes (LJ11-11 - LJ11-12) were drilled to investigate the
Las Avispas, a zone of easterly trending intermediate sulphidation
epithermal quartz veins and breccias that outcrop discontinuously
over a 1.3 kilometer-long strike length. The veins and breccias are
hosted in thinly bedded limestones and intercalated schists that
strike easterly and dip moderately to the north. The best result
from this zone was in hole LJ11-12 which returned 1.15 meters
grading 1.185 g/t gold.
Two holes (LJ11-13 & LJ11-18) were drilled to test the El
Peluchin area where mineralization occurs in grey quartz veins
hosted in muscovite schist. The two holes targeted the down dip
extension of the historic El Peluchin open-cut and it's extension
to the northwest. Results from the drilling included 1.6 meters
grading 2.10 g/t gold in hole LJ11-13 and 5.0 meters grading 2.0
g/t gold, including 1.6 meters grading 5.11 g/t gold in hole
LJ11-18.
One hole (LJ11-14) was drilled at El Triunfo where
mineralization consists of copper-rich chrysocolla and chalcocite
hosted in foliation parallel fractures in green schist west of a
monzodiorite porphyry. As well, three holes (LJ11-15 - LJ11-17)
were drilled to investigate the Peluchin Northwest extension, an
area underlain by green schists with minor intercalated limestones
that are intruded by a granodiorite stock. No significant results
were obtained from these four holes.
PHASE 1 DRILL RESULTS, LAS LAJAS, NAVOJOA, SONORA, MEXICO
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Hole ID From (m) To (m) Intercept Length (m) Au (g/t) Ag (g/t)
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LJ11-01 No Significant Results
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LJ11-02 No Significant Results
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LJ11-03 1 3.2 2.2 0.308 6.4
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LJ11-04 129.35 132.4 3.05 2.31
----------------------------------------------------------------------------
includes 129.35 131.15 1.8 3.73
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LJ11-05 No Significant Results
----------------------------------------------------------------------------
LJ11-06 44.25 47 2.75 0.496 2.78
----------------------------------------------------------------------------
LJ11-07 31.6 33 1.4 2.22
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LJ11-08 No Significant Results
----------------------------------------------------------------------------
LJ11-09 No Significant Results
----------------------------------------------------------------------------
LJ11-10 49.9 51.85 1.95 0.68
----------------------------------------------------------------------------
LJ11-11 No Significant Results
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LJ11-12 40.2 41.35 1.15 1.185 14.3
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LJ11-13 28.7 33.35 4.65 0.908 6.84
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includes 31.75 33.35 1.6 2.1
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LJ11-14 No Significant Results
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LJ11-15 No Significant Results
----------------------------------------------------------------------------
LJ11-16 102.2 103.4 1.2 0.915 13.3
----------------------------------------------------------------------------
LJ11-17 No Significant Results
----------------------------------------------------------------------------
LJ11-18 28.6 29.4 0.8 1.075
----------------------------------------------------------------------------
116.4 121.4 5 2 2.72
----------------------------------------------------------------------------
includes 116.4 118 1.6 5.11 3.4
----------------------------------------------------------------------------
The 2011 phase one drill program at Las Lajas provided a
preliminary widely spaced investigation of a number of gold targets
defined and untested by previous operators, and targets generated
by programs of soil geochemical sampling and mechanical trenching
conducted by August Metals Corp and Minera Goldzone. Gold
mineralization occurs in poorly understood, structurally complex
zones often associated with felsic dykes and alkalic stocks. August
Metals is retaining a consulting structural geologist to assist the
company in interpreting the results of the 2011 trenching and
diamond drilling programs, and make recommendations to test the
widespread gold mineralization at Las Lajas for both high grade
structurally controlled and bulk tonnage gold deposits.
This news release was reviewed by Michelle Robinson, MASc.,
P.Eng., August Metal Corp.'s independent Qualified Person as
defined by NI 43-101. In compliance with National Instrument 43-101
protocol, all drill core samples were sawn in half at the secure
site, and one-half core samples were numbered and bagged generally
over intercepts of 1-2 meters in core length. The remaining half of
the core was saved and securely stored in plastic trays at a secure
site. The samples were labeled, sealed in plastic bags and then
collected in grain sacks. Blind standard and blank samples were
inserted at random in the sample stream. From the field, the
samples were shipped by courier to ALS Chemex de Mexico S.A. de
C.V. in Hermosillo 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 percent less
than 75 microns. Prepared pulps were then sent to Chemex's main lab
in Vancouver, B.C., Canada, for analysis. Gold was determined using
a fire assay of a 50 gram pulp with an 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
l Standard ISO 9001:2000 by monitoring analytical accuracy and
precision with the insertion and analysis of blanks, reference
standards and duplicate samples.
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.
Neither 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.
Contacts: Progressive Investor Relations Ben Curry (604)
689-2881 Progressive Investor Relations Andrew Mugridge (604)
689-2881 info@augustmetal.com www.augustmetal.com
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