Parlane discovers more mineralization at the Big Bear Property, Nechako Plateau, Central British Columbia
Sugar Bear mineralization discovered on newly acquired claim addition.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 11, 2016) - Parlane Resource Corp. (TSX VENTURE:PPP) ("Parlane" or the "Company") has discovered more mineralization in the northern reaches of its new addition to the Big Bear property. The Sugar Bear was discovered 2 kilometres east of The Cub, which was discovered by Parlane in August, 2016 and 2.5 kilometres northeast of the Old Crow which was discovered in 2012 (see news releases of October 3 and November 10, 2016).
The Sugar Bear is an occurrence of strongly mineralized broken rock boulders that form the bed of a narrow forest road over a distance of more than 350 metres. The road bed has been built from material sourced in the road right-of-way immediately adjacent to the road. Quartz and sulphide-bearing veins up to 7 centimetres wide occur in sedimentary rocks similar to those found at The Cub and Old Crow. It is anticipated that the samples submitted to the laboratory on October 20, 2016 will return values in gold, silver and zinc similar to Parlane's two near-by occurrences, The Cub and the Old Crow, both of which have returned very encouraging assay results.
Parlane began exploration in August on its newly acquired 12,968-hectare claim block (see news release August 2, 2016), situated immediately to the north and adjacent to its Big Bear property. This increases the property size of the Big Bear to 27,335 hectares (273 square kilometres).
Parlane crews began sampling and mapping a mineral occurrence discovered in 2012 by the previous owner of the new claim block (BC Geological Survey Assessment Report 33750). The initial 2012 sampling at this showing (the "Old Crow") had produced assays up to 1.5 g/t gold, 85.7 g/t silver and greater than 1% zinc (over-limit for analysis method). Samples collected by Parlane from mineralized quartz veins, yielded up to 1.7 g/t gold, 39 g/t silver, 1.7% zinc and 2.1% lead. (See news release of October 3, 2016.)
The Cub yielded 10.1 g/t gold, 13.8 g/t silver, 0.5% zinc. All three mineral occurrences, the Old Crow, The Cub and Sugar Bear are at the earliest stages of exploration and present excellent targets for continuing field work.
In addition to the work at these three mineral occurrences, Parlane continues exploration at the Black Bear which it discovered and drilled in 2012 (see Parlane news release Jan. 18, 2013). Soil sampling in the area is designed to target additional drill locations.
Parlane's 273-square kilometre Big Bear mineral claim position is located immediately north of, and adjacent to New Gold Inc.'s Blackwater deposit and east of New Gold's Capoose developed prospect. The Blackwater has proven and probable reserves containing 8.2 million ounces of gold and 60.8 million ounces of silver (www.newgold.com).
Ian Webster P.Geo. is the Qualified Person, as defined by National Instrument 43-101, who has reviewed and approved the technical contents of this release.
ON BEHALF OF THE BOARD
Robert Eadie, President, Chief Executive Officer and Director
Neither the 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.
Contact
Robert Eadie
1-604-602-4935
1-604-602-4936
www.parlaneresource.com