Open Gold Announces Drilling Commencement
February 16 2011 - 10:20AM
Marketwired
Open Gold Corp. (formerly Range Capital Corp.) (TSX VENTURE:
OPG)(FRANKFURT: 5OG) ("Open Gold" or the "Company") is pleased to
announce the commencement of drilling on its Eholt Property located
in the Boundary District near the communities of Grand Forks and
Greenwood in Southern British Columbia.
Full Force Diamond Drilling Ltd out of Peachland ,B.C. has been
contracted to conduct a minimum of 1,500 meters of drilling on the
3 main mineralized areas, the Dead Honda. Seattle and the Senator
zones. Drilling of the 10 hole program is expected to be completed
over the next 30-40 days.
The program is being managed by Coast Mountain Geological Ltd.
of Vancouver and being conducted under the supervision of Richard
Parish, P.Geo.
About the Eholt Property
The Eholt property comprises 16 contiguous mineral claims
totaling 3,000 hectares (7413 acres) located near the communities
of Grand Forks and Greenwood in the Boundary District of southern
British Columbia. It lies within a larger regional geological
district which includes the Republic and Curlew Areas in Washington
State, respectively 30 and 50 kilometres to the south.
The property lies 4 km northeast of the historic Phoenix Copper
Mine which produced about one million ounces of gold and 480
million pounds of copper in two separate 19 year periods of
operation. Mines at Republic and Curlew have produced 2.5 million
ounces of gold.
Several types of gold and gold-base metals mineralization are
present on the Eholt property including including dolomitic and
garnetiferous skarns similar to those at Phoenix Copper and
evidence of epithermal mineralization which yields high grade
"bonanza type" veins at the Republic mines.
A considerable amount of exploration has been carried out of the
Eholt property in the past and all data from this work has been
recently reviewed by Linda Caron, MSc., P. Eng. applying the
benefits of a large amount of modern research into the formation of
ore deposits. Readers wanting complete details are referred to her
NI 43-101 compliant report filed in SEDAR.
Caron identified six areas on the property considered worthy of
further explorations and three of these, the Dead Honda , the
Senator and Seattle are scheduled for diamond drill testing in the
current 1,500 metre program.
At the Dead Honda Area in the northwest part of the property
mineralized skarn yielded intersepts of:
27.82 metres grading 1.5 g/t gold, 0.28% copper and
6.0 metres grading 5.2 g/t gold and 0.29% copper and
10.25 metres grading 5.3 g/t gold and 0.21% copper
Recent work suggests that prior drilling was poorly directed to
effectively test the mineralization and it remains open for testing
in both directions along the recently interpreted strike and down
dip.
At the Senator Showing in the central part of the property a
series of massive sulphide lenses yielded trench assays of:
7.5 metres grading 1.5 g/t gold, 2.9% copper and 5.4% silver and
2.0 metres grading 3.5 g/t gold, 4.2 g/t silver.
Extensions of this mineralization are hidden beneath overburden
and the zone has not been previously tested by diamond
drilling.
At the Seattle Showing in the eastern part of the property small
historic surface workings tested skarn type mineralization around
the periphery of a diorite intrusion. Previous drilling did not
return significant assays but is now considered to have been poorly
designed to test the zone. Recent surface samples returned gold
values ranging from 5 g/t to 40.9 g/t gold which was not tested by
prior drilling, hence, further drilling is warranted.
Also at the Seattle area recent surface sampling carried out
west of and up slope from the skarn zone encountered alteration
indicative of epithermal mineralization with a potential for
"bonanza" gold grades. This has been termed the "Seattle Epithermal
Zone". It will also be drill tested in the current program.
The excellent access to the property provided by existing
logging roads and an abandoned railway grade will enable the
drilling to be carried out with minimum hindrance from winter snow
conditions.
The proximity of highways, railways and powerlines make the area
ideal for development should economic mineralization be
encountered.
For further details regarding the Eholt Property, please refer
to 43-101 Technical Report prepared by Linda Carson, M. Sc., P.
Eng., which is available on SEDAR.
James S. (Jim) Kermeen, M.Sc., P.Eng., is the designated
Qualified Person as defined by National Instrument 43-101 and is
responsible for the technical information contained in this
release.
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: Open Gold Corp. Hari Varshney Director 604-684-2181
info@opengoldcorp.com
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