New Carolin Gold Reports Initial Drill Results of Surface Diamond Drill Program on The Ladner Gold Property
05.03.2013 | The Newswire
New Carolin Gold Corp. (TSX - V: LAD) reports initial drill results on the first two holes of a 15 hole drill program at its Ladner Gold Property near Hope in southwestern British Columbia (see press release November 6, 2012) Drill holes ID-01 and ID-02 were drilled from the same site. The Idaho Zone consists of several gold mineralized zones as observed from logging and assays in holes ID-01 and ID-02. These two holes were drilled under the main trench and essentially confirm the surface gold values. This area, which lies adjacent to the 1015 portal and directly above the old mine workings, was trenched in 1996 with assays ranging from 1 to 19 g/t Au over sampling intervals of one metre. Assay results as shown below indicate that infill sampling is needed in order to best define the mineralized zones.
Hole ID-01 returned 25.91 metres grading 2.75 g/t gold which includes an 1.5 metre interval grading 10.4 g/t gold and another 1.5 metre interval grading 7.94 g/t gold. Hole ID-01 ended in mineralization including a 0.80 metre interval grading 5.14 g/t gold. It is worthy to note that this mineralized zone is in volcanics whereas the other mineralized zones are within sediments which opens up a potential to explore and develop a larger gold resource.
Hole ID-01 intersected an important unconformity above the volcanics consisting of Ladner Creek conglomeratic sequence overlying the Spider Peak volcanics. This is an important marker horizon that is in apparent proximity to mineralization.
Calculated weighted averages of gold grades for hole ID-01 are presented in the following table. The true widths of these intersections are not known.
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|ID -01 |? |? |? |?|
|--------------------------------|
|azimuth |200.00|? |? |?|
|--------------------------------|
|dip |-45.00|? |? |?|
|--------------------------------|
|depth |181.35|? |? |?|
|--------------------------------|
|? |? |? |? |?|
|--------------------------------|
|FROM |TO |Interval|Gold |?|
|--------------------------------|
|(m) |(m) |(m) |(g/t)|?|
|--------------------------------|
|9.15 |35.06 |25.91 |2.75 |?|
|--------------------------------|
|includes|? |? |? |?|
|--------------------------------|
|17.20 |18.70 |1.50 |10.40|?|
|--------------------------------|
|20.20 |21.70 |1.50 |7.94 |?|
|--------------------------------|
|? |? |? |? |?|
|--------------------------------|
|45.00 |48.33 |3.33 |1.23 |?|
|--------------------------------|
|? |? |? |? |?|
|--------------------------------|
|176.80 |179.15|2.35 |2.82 |?|
|--------------------------------|
|includes|? |? |? |?|
|--------------------------------|
|178.35 |179.15|0.80 |5.14 |?|
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Hole ID-02 returned 3.66 metres grading 2.96 g/t gold which includes 2.13 metres grading 4.33 g/t gold. This hole was not drilled deep enough to intersect the mineralized volcanics as noted in ID-01.
Calculated weighted averages of gold grades for hole ID-02 are presented in the following table. The true widths of these intersections are not known.
---------------------------------
|ID -02 |? |? |? |?|
|-------------------------------|
|azimuth|200.00|? |? |?|
|-------------------------------|
|dip |-75.00|? |? |?|
|-------------------------------|
|depth |105.75|? |? |?|
|-------------------------------|
|? |? |? |? |?|
|-------------------------------|
|FROM |TO |Interval|Gold |?|
|-------------------------------|
|(m) |(m) |(m) |(g/t)|?|
|-------------------------------|
|? |? |? |? |?|
|-------------------------------|
|6.10 |9.76 |3.66 |2.96 |?|
|-------------------------------|
|? |? |? |? |?|
|-------------------------------|
|15.55 |20.43 |4.88 |1.12 |?|
|-------------------------------|
|? |? |? |? |?|
|-------------------------------|
|58.11 |63.11 |5.00 |2.37 |?|
|-------------------------------|
|? |? |? |? |?|
|-------------------------------|
|81.40 |83.00 |1.60 |0.44 |?|
|-------------------------------|
|? |? |? |? |?|
|-------------------------------|
|87.50 |88.95 |1.45 |0.59 |?|
|-------------------------------|
|? |? |? |? |?|
---------------------------------
Twelve diamond drill holes were drilled in the Idaho Zone which previously has only seen sporadic drilling, circa 1982. The objective of this drill program was to test for mineralization from the surface findings down to the old mine workings and to confirm historic results within the old mine workings. Where no mineralization was observed from logging, intervals were also sampled in order to characterize the potential waste rock. Rock quality data was also logged in order to define faults, shear zones and fractures necessary for mine design. The Idaho Zone is also in a potential "starter pit" location, within an open pit mining scenario. This zone can also be accessed from underground for further definition drilling where surface drilling sites are limited.
Core was transported to a core shack located in Hope, BC, where it was logged and sampled. Mineralized core was sawed in half, with half of the samples shipped to Acme Analytical Laboratories, an ISO 9001:2000 certified analytical laboratory, located in Vancouver, BC. The remaining core was replaced in the core box and is stored for future reference. Core recovery for these holes averaged 97%. Blanks and standards were inserted in the sample stream at the time of sampling and all samples subsequently underwent testing by fire assay for gold and ICP-MS for multi-elements.
The technical content of this press release has been reviewed and approved by the Company's President and CEO, Bruce W. Downing, as the Qualified Person.
About New Carolin Gold Corp.
New Carolin Gold is a Canadian-based junior mineral exploration and development company engaged in the acquisition, exploration, evaluation and development of 144 sq kms of contiguous mineral claims, collectively known as the Ladner Gold Project, located along the prospective and under-explored Coquihalla Gold Belt located in southeastern British Columbia, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects.
For further information please visit the website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Bruce W. Downing"
Bruce W. Downing, M.Sc., P.Geo, Hon.FEC
President & Chief Executive Officer
Office778 - 294 - 3211
Emailceo@newcarolingold.com
Web sitewww.newcarolingold.com
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