Shallow Prospect Drilling at Sacre-Coeur's Northwest District Reveals Robust Alluvial Gold Target in Near-Surface Mineralization
January 15 2009 - 11:37AM
Marketwired
SACRE-COEUR MINERALS, LTD. (the "Company") (TSX-V: SCM) (FRANKFURT:
S5N) today announced that it has completed a shallow prospect core
drilling program on its Northwest Gold Project in Guyana South
America. The program was designed to test the persistence at depth
of high grade epithermal vein systems identified by soil
geochemistry and trenching. Though weathering and erosion have
removed much of the in-place epithermal system, this process has
resulted in substantial gold-bearing mineralization in alluvial and
colluvial material at or near surface, supplemented by the in-situ
roots of the epithermal vein system. Trench results of up to 12.0
meters grading 7.90 g/t Au, as reported in the PR dated February
26, 2008, coupled with the shallow epithermal vein drill intercepts
reported herein of up to 2.31 meters @ 6.6 g/t Au combine to make a
potentially attractive target for alluvial mining.
Historic artisanal mining in the project area has also generated
a significant tonnage of tailings often grading above 2 g/cubic
meter Au. In aggregate, the gold-bearing mineralization and
tailings covers a surface area measuring approximately 800 meters
by 200 meters in the 19 Mile Prospect, with a number of additional
untested zones in future drill plans. This and other similar
deposits held by the Company may lend themselves to rapid, low cost
development and generate cash flow for the Company to supplement
its working capital during this current period of relatively strong
gold prices but weak equity market conditions. The Company is
currently evaluating engineering, metallurgical, environmental,
economic and other considerations related to exploitation of the
alluvial targets and will make a decision concerning bulk sampling
associated with test mining in the coming months.
While evaluation of the epithermal gold potential has suggested
depths generally less than 50 meters below surface at the 19 Mile
Prospect, other geologic work has also identified several
deep-seated mesothermal gold targets on the Company's Northwest
Project license area. As reported in previous releases,
investigation of these deeper targets has been deferred during this
period of economic downturn while the Company focuses on further
expansion of resources on its more advanced Million Mountain
Project.
Selected results from the prospect drilling program are
presented in the following table.
TABLE OF SELECTED DRILL RESULTS
-***-
Drill Hole From To Interval* Au
(m) (m) (m) (g/t)
WLDH003 34.27 36.58 2.31 6.60
M19DH001 8.00 12.00 4.00 2.72
M19DH008 5.60 8.00 2.40 3.43
M19DH033 5.70 8.00 2.30 4.26
-****-
*Note: Intervals are not resolved to true widths.
Drill Hole Survey Data
-***-
Drill Hole UTM Grid East North Collar Elev. Azimuth Inclination
No. (m) (m) (m) (true N)
WLDH003 21N 174618 854979 32 215 -45
M19DH001 20N 824377 837237 65 N/A -90
M19DH008 20N 824443 837335 60 N/A -90
M19DH033 20N 824704 837553 61 195 -80
-****-
According to Irwin Olian, CEO of the Company, "While the Million
Mountain Project remains our top priority for long-term development
and exploitation, with core drilling now ongoing in Zones 2 and 3,
the newly identified alluvial gold targets in the Northwest Project
area provide a potential opportunity for near-term cash flow for
the Company at relatively low cost. These will be evaluated as
quickly as possible to determine whether bulk sampling for test
mining is in the best interests of the Company."
Assay Data
The Company uses Acme Laboratories for its core sample assays.
Samples are prepared at Acme's Georgetown Guyana prep facility.
Prepared samples are shipped to Acme's analytical lab in Santiago,
Chile for determination. Acme's facilities are ISO certified. Every
tenth sample is split and a duplicate sample is shipped to ALS
Chemex Vancouver, BC facility for check assay. As well, splits of
all samples determined by Acme to be 5 g/t Au or greater are also
shipped to ALS Chemex for check assay.
The Company uses Loring Laboratories - Guyana, a subsidiary of
Loring Laboratories, Ltd. of Calgary Alberta to analyze geo-chem
and other field samples. Splits of every 10th sample and splits of
all samples returning assay of greater than 5.0 g/t Au are sent to
ALS Chemex Vancouver BC facility for check assay.
Technical Staff
The Company's exploration program is overseen by Gregory B.
Sparks, P. Eng., Senior Vice President Mining and Exploration for
the Company. Mr. Luisito Sangalang, P.Geo, Exploration Manager -
Guyana, directs all of the Company's programs in Guyana. Mr. Sparks
and Mr. Sangalang are Qualified Persons under NI 43-101. The
Northwest Regional Program was managed by Mr. Luis Gana, Chief
Geologist Northwest Region. He was assisted by Messrs. Ricardo
Baja, Noel Queto, and Ernesto Dizon, all Senior Project Geologists.
Mr. Ardito Martohardjono, a Director of the Company and laboratory
specialist, provides assistance establishing lab protocols and
sample handling and assay quality control.
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and
development of properties for the potential mining of gold, metals
and diamonds in South America, initially focusing on exploration
for gold on its properties in Guyana. The Company presently has an
interest in approximately 1000 sq. km of mineral properties in
Guyana, including the Million Mountain Property. The Company has
offices in Vancouver, Canada and Georgetown, Guyana. More
information about the Company is available at
www.scminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
"Gregory B. Sparks"
Gregory B. Sparks, P. Eng.
Sr. VP Mining & Exploration
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of the
information contained herein. The statements made in this press
release may contain certain forward-looking statements that involve
a number of risks and uncertainties. Actual events or results may
differ from the Company's expectations.
Distributed by Filing Services Canada and retransmitted by
Marketwire
For further information, contact: Irwin Olian President and CEO
Email: Email Contact Phone: 604-899-0100 Fax: 604-899-0200 Scott
Young Corporate Communications Email: Email Contact Phone:
604-899-0100 Cellular: 705-888-2756 Fax: 604-899-0200
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