Newport Gold Confirms Presence of High-Grade Gold at Molly Gibson Mine
May 25 2012 - 6:58PM
Marketwired
Newport Gold Inc. (OTCQB:NWPG) (the "Company", "Newport") has
confirmed the presence of high-grade gold mineralization at the
Molly Gibson Mine at Newport's 100% owned Burnt Basin Property (the
"Property"). The Burnt Basin Property covers 1,682 hectares and is
located approximately 30 kilometres west of Trail, in the Greenwood
Mining District of British Columbia.
During the fall of 2011, Newport conducted geologic
reconnaissance at the Molly Gibson Mine, including the collection
of 68 rock grab samples. The samples were taken from numerous
historic exploration pits, trenches, adits and shaft over an area
of approximately 500 x 100 metres. Of the 68 rock grab samples
collected, a total of 29 samples were submitted for gold fire
assay, based on the presence of intense quartz-carbonate-pyrite
(+/-pyrrhotite) vein mineralization. Of the 29 samples submitted
for analysis, a total of four samples returned assays of greater
than 1 gram-per-tonne (g/t) gold (Au), and up to 270 g/t Au (See
Table 1, Figure 1).
During 2011, all rock grab samples were submitted to ALS
Minerals, Vancouver, British Columbia for gold fire assay analysis.
Rock samples were crushed and pulverized to produce a pulp and a 30
gram sample split was mixed with flux to produce a dore bead. The
bead was digested in acids and the solution analyzed by an atomic
emission spectrometer (ICP-AES). Rock samples returning greater
than 10 g/t Au by ICP-AES were subjected to gravimetric
analysis.
"We are pleased to confirm the potential at our Molly Gibson
Mine following geological work conducted by the company," said
Derek Bartlett, President and Chief Executive Officer, Newport Gold
Inc. "These results highlight the potential value and opportunities
associated with the Burnt Basin Property. While the Property hosts
abundant gold showings, the Company's first priority is the Molly
Gibson Mine. The Company is planning a work program on the Molly
Gibson gold zone in addition to other high-grade gold zones on the
Property during the summer of 2012."
Table 1: 2011 Molly Gibson Rock Sampling Highlights
----------------------------------------------------------------------------
Sample Location Au (g/t) Sample Description
----------------------------------------------------------------------------
11CAP018 Upper Adit 270 Quartz-Pyrite-pyrrhotite hornfels float
within adit
----------------------------------------------------------------------------
11CAP022 Twin Tunnels 31.4 Chlorite-Pyrite-pyrrhotite hornfels float
within tunnel
----------------------------------------------------------------------------
11CAP030 Lime Cut 20.4 Weakly silicified pyrite-pyrrhotite
hornfels outcrop
----------------------------------------------------------------------------
11CAP031 Lime Cut 8.67 Chlorite-pyrite-pyrrhotite hornfels
outcrop
----------------------------------------------------------------------------
The Upper Adit and Lime Cut are approximately 150 metres apart
and are located at the south end of the Molly Gibson gold zone. The
Lime Cut is the most southerly location. Sampling in 2007 from the
Purcell Adit and Inclined Shaft areas, located approximately 200
metres north of the Upper Adit, returned assays of 13.7 g/t Au
(sample JBB-07) and 11.8 g/t Au (sample JBB-35). The same sampling
program yielded samples assaying 26.1 g/t Au (sample JBB-38) and
29.5 g/t Au (sample JBB-37) at the Lime Cut and Twin Tunnels
locations. The Molly Gibson mineralization occurs as small pods and
lenses of semi-massive to massive pyrite-pyrrhotite that exhibit
strong stratigraphic control, occurring in the immediate structural
hanging wall of a band of crystalline limestone that contains
layers of dense grey chert (historically referred to as jasperoid)
and sulphides. Historical production reported for the Molly Gibson
Mine between 1909 and 1940 totalled 315 tons (286 metric tonnes) at
a grade of 1.05 ounces-per-ton (36.1 g/t) Au and 0.45
ounces-per-ton (15.3 g/t) silver.
To view the "Summary Map", please visit the following link:
http://media3.marketwire.com/docs/NWPGfig1.jpg.
To view "Molly Gibson Showing 2011 Rock Sampling", please visit
the following link:
http://media3.marketwire.com/docs/np_map.pdf.
Work on the Burnt Basin Property is supervised by Kristopher J.
Raffle, P.Geo. (BC), Senior Geologist for APEX Geoscience Ltd. of
Edmonton, Alberta. Mr. Raffle has reviewed the portion of the
technical content of this news release as it relates to the Burnt
Basin Property. During 2011, all rock grab samples were submitted
to ALS Minerals, North Vancouver, BC for gold fire assay analysis.
Rock samples were crushed and pulverized to produce a pulp and a 30
gram sample split was mixed with flux to produce a dore bead. The
bead was digested in acids and the solution analyzed by an atomic
emission spectrometer (ICP-AES). Rock samples returning greater
than 10 g/t Au by ICP-AES were subjected to gravimetric
analysis.
About Newport Gold Inc.
Newport Gold Inc. (OTCQB:NWPG) is a newly incorporated Nevada
company (incorporated July 16, 2003) formed for the purpose of
mining exploration. The board of directors is made up of highly
experienced individuals with over 150 years of experience in the
geologic, legal and accounting fields and a track record of many
discoveries to their credit.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information contained in this press release, including
any information as to our strategy, projects, plans or future
financial or operating performance and other statements that
express management's expectations or estimates of future
performance, constitute "forward-looking statements". All
statements, other than statements of historical fact, are
forward-looking statements.
Contacts: Newport Gold Inc. Derek Bartlett, B.Sc (Geology)
President, CEO and Director 905-542-4990backup4derek@gmail.com
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