Josephine Mining Corp.: Massive Sulfide Intercepts at Turner Gold Project
June 03 2011 - 6:22PM
Marketwired
Robert L. Russell, President and CEO of Josephine Mining Corp. (TSX
VENTURE: JMC) ("Josephine" or the "Company") is pleased to announce
that the Company has intercepted zones of sulfide mineralization as
part of the Company's current in-fill drill program (see press
release dated May 10, 2011). "With our drilling permits in-hand and
the drill turning, we have intercepted two zones of sulfides in the
first drill hole. We eagerly await further drill hole data and
initial assays results."
Subsequent to receiving an exploration permit from the State of
Oregon the Company is nearing completion of the first of a planned
12-hole drill program. This initial 1,200 ft diamond drill hole
(TJM-69) has intercepted two significant layers of massive sulfides
starting at a depth of 256 ft. The intercept extends through 709 ft
of depth, representing over 450 ft of massive and semi-massive
sulfide which is likely connected to the layer zone denoted in the
Company's NI 43-101 report on the property (see www.sedar.com) as
the MUZ - Main Upper Zone. Additionally, the drilling results show
an intercept of the sulfides in the lower layer (MLZ-Main Lower
Zone) at 960 ft and the drilling is currently in sulfides at the
time of this release. The geological team is currently logging,
splitting and prepping the core for assay and mill testing. The
massive sulfide mineralization has been visually identified as
pyrite, sphalerite and chalcopyrite, with assays to commence
shortly. Results will be published in future press releases.
The intended goal of the drill program is to improve the
classification of a portion of the mineral resource, as well as
increase the total resource tonnage. The mineral resource is a
Cyprus-type ophiolite-hosted volcanogenic massive sulfide (VMS)
gold, copper & zinc deposit. Investors may look forward to
further updates on the Turner Gold Project as management remains
committed to maximizing shareholder value through a focused
development and acquisition plan.
The Term Volcanogenic Massive Sulfides (VMS) implies
mineralization which has a high content of sulfide minerals
including pyrite and other iron sulfide minerals as well as base
metal sulfides such as copper, zinc and lead sulfides. The term VMS
implies active mineralization, but does not imply that ore grade
will be indicated in final assays.
Michael Strickler of LithioLogic Resources, LLC, a "Qualified
Person" as defined in NI 43-101, has reviewed this press
release.
For further information about the Company, please refer to the
Company's filings on SEDAR (www.sedar.com), particularly the
NI43-101 concerning the Turner Gold Project in Josephine County,
Oregon, USA.
Disclaimer for Forward-Looking Information
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events, such as the statements that: (i) Diamond drilling is
continuing. (ii) Assay results are expected. Forward-looking
statements consist of statements that are not purely historical,
including any statements regarding beliefs, plans, expectations or
intentions regarding the future. Such statements are subject to
risks and uncertainties that may cause actual results, performance
or developments to differ materially from those contained in the
statements. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if
they do occur, what benefits the Company will obtain from them.
These forward-looking statements reflect management's current
views and are based on certain expectations, estimates and
assumptions which may prove to be incorrect. A number of risks and
uncertainties could cause our actual results to differ materially
from those expressed or implied by the forward-looking statements
such as the current economic conditions and the state of mineral
exploration and mineral prices in general. These risks and
uncertainties could cause actual results and the Company's plans
and objectives to differ materially from those expressed in the
forward-looking information. The Company can offer no guarantee
that its goals and objectives detailed above will be accomplished,
in part or at all.
These forward-looking statements are made as of the date of this
news release and, except as required by law, the Company assumes no
obligation to update these forward-looking statements, or to update
the reasons why actual results differed from those projected in the
forward-looking statements. Additional information about these and
other assumptions, risks and uncertainties are set out in the
"Risks Factors" section in the Filing Statement of the Company
dated October 10, 2010 and available on www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Josephine Mining Corp. Robert Russell President &
Director (509) 343-3193 (509) 343-3194 (FAX)
info@josephinemining.com www.josephinemining.com
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