NWM provides update on Gold Ridge zone exploration
TORONTO, May 31, 2011 /CNW/ --
TSX Venture Exchange
Symbol: NWM
Shares Outstanding: 403,545,785
TORONTO, May 31, 2011 /CNW/ - NWM Mining Corporation (the 'Company'
TSX-V: NWM) is pleased to announce that it has commenced diamond
drilling on the Gold Ridge target at its 100% owned Lluvia de Oro mine.
The target at Gold Ridge is an igneous quartz porphyry body defined by
soil and surface rock samples with gold assay values up to 2,400 ppb
(parts per billion) or 2.4 g/t Au and 5.32 g/t Au, respectively. The
area defined by anomalous gold values for soil and rock geochemistry is
more than 1,200 meters long and 260 meters wide, and is situated close
to the Lluvia Dos leach pad, which is currently under construction. The
favourable rocks are believed to dip toward the east and northeast, and
will not affect the new leach pad area.
Results of two core holes originally drilled as condemnation holes on
the north end of Gold Ridge (holes: L11-066 and L11-067), have returned
favourable assay results, as set forth in the tables below. Drill hole
L11-066 was collared in the quartz porphyry host rock and drilled this
lithology to 14.9 meters. The interval returned a weighted average gold
grade of 0.423 g Au/t over 14.9 meters. Hole L11-067 drilled Lluvia
sedimentary rocks from surface to 110 meters and encountered quartz
porphyry host rock from 111.2 to a depth of 152.9 meters. The top 17.0
meters of the quartz porphyry intersection returned a weighted average
gold grade of 0.346 g Au/t. These two intercepts represent vertical
true widths of mineralization on the northern-most part of the quartz
porphyry body that has been drilled to date and is still open along
strike.
A program of 43 air track holes was completed along the crest of Gold
Ridge for a total of 1,075 meters of drilling. Percussion holes #3
through #40 were drilled into the quartz porphyry host rock to a depth
of 25 meters. Ten percent of the drill samples of 3.4 to 3.6 meters
each returned gold values in excess of 0.20 g Au/t, with gold values up
to 1.99 g Au/t over 3.6 meters.
The air track drilling identified a length of 630 meters along the crest
of Gold Ridge to have the highest gold values. This area is now the
principal target of diamond drilling.
Gold Ridge constitutes a potentially significant upside addition to the
mineral resource total for Lluvia-Jojoba. The target area is large,
with rocks that have a more uniform distribution of mineralization than
the sediment-hosted mineralization commonly found in the Lluvia de Oro
structurally controlled mineralization.
Table of core assay data from the north end of Gold Ridge:
_________________________________
| DH# |FROM | TO |WIDTH |Au g/t|
|_______|_____|_____|______|______|
|L11-066| 0.0 | 1.6 | 1.6 |0.397 |
|_______|_____|_____|______|______|
|L11-066| 1.6 | 2.8 | 1.2 |0.317 |
|_______|_____|_____|______|______|
|L11-066| 2.8 | 3.3 | 0.5 |0.670 |
|_______|_____|_____|______|______|
|L11-066| 3.3 | 4.0 | 0.7 |0.371 |
|_______|_____|_____|______|______|
|L11-066| 4.0 | 4.5 | 0.5 |0.331 |
|_______|_____|_____|______|______|
|L11-066| 4.5 | 5.0 | 0.5 |0.304 |
|_______|_____|_____|______|______|
|L11-066| 5.0 | 5.6 | 0.6 |0.197 |
|_______|_____|_____|______|______|
|L11-066| 5.6 | 6.2 | 0.6 |0.418 |
|_______|_____|_____|______|______|
|L11-066| 6.2 | 7.1 | 0.9 |1.670 |
|_______|_____|_____|______|______|
|L11-066| 7.1 | 8.1 | 1.0 |0.078 |
|_______|_____|_____|______|______|
|L11-066| 8.1 | 8.8 | 0.7 | 1.88 |
|_______|_____|_____|______|______|
|L11-066| 8.8 | 9.7 | 0.9 |0.065 |
|_______|_____|_____|______|______|
|L11-066| 9.7 |10.6 | 0.9 |0.037 |
|_______|_____|_____|______|______|
|L11-066|10.5 |10.7 | 0.1 | 0.0 |
|_______|_____|_____|______|______|
|L11-066|10.7 |12.1 | 1.5 |0.179 |
|_______|_____|_____|______|______|
|L11-066|12.1 |13.4 | 1.3 |0.346 |
|_______|_____|_____|______|______|
|L11-066|13.4 |14.9 | 1.5 |0.208 |
|_______|_____|_____|______|______|
| Thickness: |14.9 |Grade:|0.423 |
|_____________|_____|______|______|
| | | | | |
|_______|_____|_____|______|______|
| DH# |FROM | TO |WIDTH |Au g/t|
|_______|_____|_____|______|______|
|L11-067|111.2|112.2| 1.0 |0.279 |
|_______|_____|_____|______|______|
|L11-067|112.2|112.8| 0.6 |0.599 |
|_______|_____|_____|______|______|
|L11-067|112.8|113.2| 0.4 |0.213 |
|_______|_____|_____|______|______|
|L11-067|113.2|114.2| 1.0 |0.315 |
|_______|_____|_____|______|______|
|L11-067|114.2|115.2| 1.0 |0.200 |
|_______|_____|_____|______|______|
|L11-067|115.2|116.2| 1.0 |0.079 |
|_______|_____|_____|______|______|
|L11-067|116.2|117.2| 1.0 |0.462 |
|_______|_____|_____|______|______|
|L11-067|117.2|118.5| 1.3 |0.411 |
|_______|_____|_____|______|______|
|L11-067|118.5|119.2| 0.7 |0.242 |
|_______|_____|_____|______|______|
|L11-067|119.2|120.2| 1.0 |0.428 |
|_______|_____|_____|______|______|
|L11-067|120.2|121.2| 1.0 |0.344 |
|_______|_____|_____|______|______|
|L11-067|121.2|122.2| 1.0 |0.114 |
|_______|_____|_____|______|______|
|L11-067|122.2|123.2| 1.0 |0.731 |
|_______|_____|_____|______|______|
|L11-067|123.2|124.2| 1.0 |0.283 |
|_______|_____|_____|______|______|
|L11-067|124.2|125.2| 1.0 |0.129 |
|_______|_____|_____|______|______|
|L11-067|125.2|126.2| 1.0 |0.273 |
|_______|_____|_____|______|______|
|L11-067|126.2|127.2| 1.0 |0.272 |
|_______|_____|_____|______|______|
|L11-067|127.2|128.2| 1.0 |0.830 |
|_______|_____|_____|______|______|
| Thickness: |17.0 |Grade:|0.346 |
|_____________|_____|______|______|
All drill samples are obtained under quality controlled conditions with
duplicate, blank and standard samples inserted in the sample string for
quality assurance purposes. Sample procedures and QA/QC for the data
are mandated and reviewed by the Company's Qualified Person. Drill
samples are submitted under appropriate security controls to the ISO
9001:2000 certified laboratory of ALS-Chemex in Hermosillo, Sonora for
sample preparation, and final analysis by ALS-Chemex in North
Vancouver, B.C.
This press release has been prepared by Rodney A. Blakestad, C.P.G.,
Qualified Person.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release includes 'forward-looking information', as such term
is defined in applicable securities laws. Forward-looking information
includes, without limitation, the success of exploration activities,
price outlooks, production expectations and other similar statements
concerning anticipated future events, conditions or results that are
not historical facts. These statements reflect management's current
estimates, beliefs, intentions and expectations; they are not
guarantees of future performance. The Company cautions that all forward
looking information is inherently uncertain and that actual performance
may be affected by a number of material factors, many of which are
beyond the Company's control. Accordingly, actual future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. All statements are made as of the date of
this news release and the Company is under no obligation to update or
alter any forward-looking information.
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 of this release.
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please contact NWM Mining Corporation at (416) 364-6799.