Forest Gate Intersects Significant Gold at Pershing
August 11 2011 - 10:04AM
PR Newswire (Canada)
CALGARY, AB, Aug. 11, 2011 /CNW/ -- More than 44.6 grams of gold
per ton over 0.3 metres SYMBOL & EXCHANGE: FGE-V CALGARY, AB,
Aug. 11, 2011 /CNW Telbec/ - Forest Gate Energy Inc. (TSXV: FGE)
reports that its mineral exploration group intersected high-grade
gold in addition to iron during a five-hole drill program at its
100%-owned Pershing gold property located near Val D'Or, Quebec.
Drill hole FG11-05 intersected gold mineralization that assayed 145
grams of per ton in the first screen analysis. The second screen
analysis on a second sample of the same mineralized intersection
assayed 44.6 grams of gold per ton suggesting the presence of free
gold. The first screen analysis is discounted due to the nugget
effect. Drill hole FG11-05 was drilled in a new, unexplored area of
the Pershing property known as the Marquis Block. The Marquis Block
is located 1.7 kilometres north of the Simon Block which is where
most of the historical work was concentrated and where all of the
early gold showings were found. "This fifth hole was targeting a
fault zone which it found and it also intersected an alteration
zone and quartz veins in which the high-grade gold was discovered,"
said Michael Judson, President and CEO. Hole FG11-04 was also
drilled in the Marquis Block and returned values of 18.3 grams of
gold per ton over 0.10 metres and 10.5 grams of gold per ton over
0.20 metres. Holes FG11-04 and FG11-05 were spotted and located for
the spring drill program using a ground-based magnetic survey
completed during 2000-2002 season. This survey was never fully
completed over the entire area of the Marquis Block. The results
from the holes on the Marquis Block are extremely promising
especially in light of the limited geophysical data on which they
were based. Forest Gate says it believes that the positive results
open a completely new area in which to explore for gold
mineralization on the Pershing property. The results from drill
holes FG11-04 and FG11-05 warrant a more detailed geophysical
survey. This survey is now being planned for this autumn. The
survey will be followed with a comprehensive drilling program. "We
very much need some fresh geophysics on this property," said
Judson. "We need to better understand the fault structure in both
the northern and southern parts of the property to further
delineate both gold and iron mineralization." Forest Gate was
targeting high-tonnage, low-grade gold mineralization with its 2011
spring program. The discovery of alternation zones and
silicification by the most recent drilling suggests that there is
still the potential for the discovery of this kind of
mineralization. Holes FG11-01, FG11-02 and FG11-03 contained
immaterial amounts of gold. As previously reported, FG11-03
contained high-grade iron. Forest Gate is planning to more detailed
petrographic analysis of core from holes FG11-01, FG11-02, FG11-03
and core from adjacent historical drill holes. Drill holes FG11-02
and FG 11-03 contain visual petrographic and vein characteristics
which are comparable to descriptions of gold mineralization
described by previous explorers. In the case, of FG11-01 only a
small number of samples were initially submitted for analysis. The
company may decide to submit new samples from the first three drill
holes for additional assaying. Follow-up petrographic studies,
re-sampling and analytical work will commence in September.
Table 2: Key Assay Values - Spring 2011 Preliminary Drill Program
RS-Au RS-Au- Accepted Hole PS-Au- PS-Au- PS-Au- RS-Au- Number
Sample From To Interval AA25 GRA21 GRA21 AA25 AA25 GRA21 Value
Duplicate Duplicate meters gpt gpt gpt gpt gpt gpt gpt FG11-04
K496043 97.90 98.05 0.15 10.0 18.500 18.2 17.25 18.3 18.30 FG11-04
K496046 109.85 110.05 0.20 9.700 10.35 10.75 10.50 10.50 FG11-05
K496036 190.35 190.65 0.30 10.0 133.000 146.000 33.90 44.60 26.70
44.60 PS - Primary RS - Resubmitted Reject Duplicate - Laboratory
Duplicate Analysis Sample Sample on same pulp sample Forest Gate
selected one hundred eight samples selected from 5 drill holes for
gold fire assay, trace and major element analysis. Assaying was
conducted at the ALS Global/ALS Canada Ltd. located Val d'Or,
Quebec. An additional 7 samples using the initial rejected portions
of the samples were re-submitted for metallic sieve fire assay with
AA finish to confirm initial results. Technical information in this
news release was prepared in accordance with Canadian regulatory
requirements as set out in National Instrument 43-101 and has been
reviewed by Edward Procyshyn, Geo, who is the qualified person as
defined by NI 43-101. Assay samples are taken from NQ-size
drill core sawn in half; one half is shipped to ALS Minerals in Val
d'Or, PQ, and the other half of the core sample is kept for future
reference. The submitted samples are crushed such that 75% of the
crushed material passes -10 mesh (2mm) screen. The crushed
material is split until a 300 gram samples is obtained. This
sample is pulverized so that plus 90% of the sample passes 200 mesh
(0.75mm)(now called pulp) from which a 30 gram sample is taken for
standard fire Au-assay and AA finish to determine amount of gold in
the sample. Blank samples and standard samples are inserted
by Forest Gate Energy into the sampling stream such that ~1 out of
15 samples is either a blank or standard reference
sample. Samples returning more than 1 gpt Au are
resubmitted for gravimetric metallic screen and fire assay-AA
finish analysis. The pulp and the split reject are returned
and securely stored with the core. When warranted, another
30g of the pulp sample is also geochemically analyzed for
multi-elements using 4-acid digestion followed by ICP analysis with
OES Finish (Inductively couple plasma optical emission
spectroscopy). The ALS laboratory also will occasionally
complete check duplicate analysis on samples submitted and analyze
blank and standard samples they select and insert into the sample
stream. Since the orientation and attitude of the gold
bearing and iron bearing mineralized units are not yet known, the
core intervals samples do not represent the true width of the
mineralized zone. About Forest Gate Forest Gate Energy Inc. is a
publicly listed oil and gas exploration and production, and
non-energy resource company trading on the TSX Venture Exchange
under the symbol FGE. The Company is seeking to increase
shareholder value through participation and development of energy
and other resources in Canada and internationally. FORWARD-LOOKING
STATEMENTS Certain statements regarding Forest Gate, including
management's assessments of future plans and operations and Forest
Gate's anticipated financial performance, may constitute
forward-looking statements under applicable securities laws and
necessarily involve known and unknown risks and uncertainties, most
of which are beyond Forest Gate's control. These risks may cause
actual financial and operating results, performance, levels of
activity and achievements to differ materially from those expressed
in, or implied by, such forward-looking statements. Such factors
include, but are not limited to: the impact of general economic
conditions in Canada and the United States; industry conditions
including changes in laws and regulations including adoption of new
environmental laws and regulations, and changes in how they are
interpreted and enforced; competition; the lack of availability of
qualified personnel; fluctuations in commodity prices; the results
of exploration and development drilling and related activities;
imprecision in reserve estimates; the production and growth
potential of Forest Gate's various assets; fluctuations in foreign
exchange or interest rates; the ability to access sufficient
capital from internal and external sources; and obtaining required
approvals of regulatory authorities. Neither TSX Venture Exchange
nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or the accuracy of this release. To view this news
release in HTML formatting, please use the following URL:
http://www.cnw.ca/en/releases/archive/August2011/11/c3153.html p
Robert Kramberger, V-P, Investor Relationsbr/ 1-866-666-3040br/ ua
href="mailto:rkramberger@forestgate.ca"
cr="true"rkramberger@forestgate.ca/a/ubr/ ua
href="http://www.forestgate.ca" cr="true"www.forestgate.ca/a/u /p
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