Entourage Metals Expands Land Position in Hemlo Greenstone Belt
May 03 2011 - 8:00AM
Marketwired
Entourage Metals Ltd. (TSX VENTURE: EMT)(the"Company") announces
that it has entered into a letter agreement to acquire a 100%
interest in Mineral Rights to the Valley Lake and Spruce Bay
Properties, located in Northwestern Ontario.
These properties comprise 10.4 km2 consisting of 65 mining claim
units. The Valley Lake and Spruce Bay Properties are located near
the north margin of the eastern portion of the Schreiber-Hemlo
greenstone belt in northern Ontario, 220 km east-northeast of the
city of Thunder Bay.
These properties form part of the Northern Arm Property, which
is an underexplored mineralized trend in the Hemlo Greenstone Belt.
Similar rock types occur along this trend and are analogous to
Hemlo Mines. Rock types at the Northern Arm Property are analogous
to Barrick's Hemlo Gold Mine, located approximately 15 km to the
south. The property is accessible by logging roads or lakes which
connect to paved roads.
Both the Spruce Bay and Valley Lake Property connect to the 100%
owned Entourage Metal's property, thus providing a continuous land
package for exploration. These properties have both potential for
shear zone hosted gold deposits and base metal deposits
(volcanogenic massive sulfide deposits).
Historical exploration on the Valley Lake Property has
identified several areas of mineralization. A recent grab sample,
collected by an Ontario Government District Geologist, returned
1.24 oz/ton (38.5 g/t) Au on the Valley Lake Property in a historic
trench. Previously, only high base metal values were obtained in
the trenches; two narrow mineralized zones within sericite schist
assayed up to 10.7% Zn, 8.9 % Pb, and 85.7 g/t Ag. This gold
occurrence is significant since previous explorers identified mafic
volcanic float that was found within 0.5 km of the claim group,
which yielded 16.2 g/t Au. This also suggests that gold
mineralization found on our property could be related to this
nearby gold-rich float.
Historical exploration on the Spruce Bay Properties delineated
mineralized sheared sedimentary, mafic, and ultramafic rocks that
contained elevated values of gold and base metals (6.85 g/t Au;
Assessment Report: 42C13SE0062).
These new acquisitions compliment Entourage's growing land
position in underexplored regions of the Hemlo greenstone belt. The
Company is commencing additional surface mapping and sampling to
refine drill targets on the Northern Arm Property.
Upon approval to the TSX Venture exchange, Entourage Metals can
earn a 100% interest in the property by paying CAD$265,000 in cash
($15,000 first year) and issuing 385,000 shares (15,000 first year)
over five years. Upon commencement of commercial production,
Entourage Metals would pay a 2% Net Smelter Return Royalty (NSR)
with the option to purchase one-half of the NSR (1.0% NSR) for
CAD$500,000 at any time.
Mr. Florek has been unable to physically verify the sampling and
analytical results contained in this press release. The data
disclosed will be tested by Entourage's Phase I program which will
comprehensively assess these gold occurrences. The objective of
Entourage's proposed exploration is to fully define the surface
extent and tenor of the high grade gold mineralization with
mapping, rock/soil sampling, and geophysical surveys and then to
test depth potential with drilling.
The 2011 exploration program is under the supervision of John C.
Florek, P.Geo, Vice-President Exploration for Entourage Metals. Mr.
Florek is Qualified Person as defined by NI 43-101. Mr. Florek
prepared and approved the information contained in this
release.
Entourage Metals has retained Michael Martinz as an investor
relations consultant to provide investor and broker liason and to
increase awareness of Entourage within the investment community.
Mr. Martinz brings over twelve years of sales and business
development experience to Entourage Metals.
The Company has granted 155,000 stock options at a price of
$0.70 to employees and consultants. The options are exercisable for
a period of ten years from the date of grant.
Entourage Metals has active mineral projects in the Hemlo
Greenstone Belt. Geophysics is now underway for the season on the
Hemlo Belt Properties. Details on Entourage Metals portfolio can be
reviewed at the Company's website at www.entouragemetals.com.
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.
Contacts: Entourage Metals Ltd. Jeff Sundar President
604-484-7855 js@entourageminerals.com www.entouragemetals.com
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