Expedition Mining Identifies Gold-Arsenic-Antimony Anomalies on Mt. Mervyn Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/30/11 -- Expedition Mining Inc. (TSX VENTURE: EXU) (the 'Company') wishes to announce the results from the Phase I work program on the Mt. Mervyn property. This work consisted of mapping, prospecting, stream and rock sampling from a helicopter supported camp. The Mt. Mervyn property lies in the Rackla Gold Belt, a newly discovered gold district hosting ATAC Resources' Rau Gold Project which contains drill-confirmed 'Carlin-type' gold mineralization.
The Phase I work program was guided by an airborne geophysical survey which was flown in the spring of 2011. The Mt. Mervyn property survey demonstrated that the strongest geophysical anomalies are east-west trending and appear to coincide with the projected locations of the Kathleen Lakes fault and the Dawson thrust fault.
The stream sampling program included a series of Bulk Leachable Extractable Gold (BLEG) samples which gave a lower detection limit and greater sensitivity of analyses. In this area not all streams are amenable to BLEG sampling due to the high topographic gradient and active water flow which flushes out the fine sediment required for this form of sampling. A total of 68 stream, 25 BLEG and 22 rock samples were collected from the Mt. Mervyn property and analysed for gold and a 51 element ICP package at AGAT Laboratories in Mississauga, Ontario.
The Mt. Mervyn property is well covered by drainages and the stream sediment sample density is approximately one sample per square kilometre. Anomalous values were considered to be anything over the 95th percentile of values for that element. The majority of the anomalies are multi element in nature and concentrated in the southwest and south central portions of the property. Several samples contained statistically anomalous gold values which correlate with the multi-element anomalies. The following table highlights the most significant results.
Table 1: Significant Stream Sediment Samples
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Sample Au Ag As Cd Co Cu Hg Ni Sb Tl Zn
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ID ppb ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm
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5267167 5.79 0.3 27.5 0.7 11.2 41.2 0.1 41 1.6 0.15 191
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5267180 10.60 0.8 9.2 0.5 9.2 74.4 0.2 50 1.0 0.13 202
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5267210 11.90 0.2 9.3 1.4 12.5 36.8 0.1 47 1.3 0.09 253
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5267211 5.90 1.3 14.3 7.1 97.2 185.3 0.2 121 2.5 0.19 1101
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5267214 9.67 0.3 13.4 2.7 48.4 52.6 0.1 117 1.7 0.13 576
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5267216 1.80 0.5 21.3 43.6 218.7 133.7 0.1 274 4.2 0.22 2127
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5267224 6.84 0.5 8.0 0.8 12.7 62.6 0.2 51 0.6 0.11 227
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5267225 1.60 0.4 14.3 57.5 94.4 47.0 0.1 646 2.6 0.18 5397
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5267229 2.30 0.8 22.1 3.9 48.3 116.3 0.1 101 7.0 0.35 799
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5267396 0.68 1.4 20.6 1.9 12.3 49.7 0.1 43 5.0 0.36 191
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5267397 2.14 3.6 61.5 0.8 39.6 107.7 0.2 37 29.5 0.37 308
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5267398 2.43 1.0 27.5 16.5 75.7 106.0 0.1 99 7.6 0.25 1107
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5267399 8.52 0.8 14.0 0.5 9.6 54.9 0.2 38 1.1 0.27 143
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5267403 1.75 2.4 20.0 45.6 493.7 229.0 0.1 423 4.8 0.43 3070
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5267404 31.30 0.7 14.0 1.0 12.7 50.0 0.1 55 1.2 0.14 264
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5267405 18.80 0.5 16.2 0.8 12.6 55.8 0.1 54 1.2 0.21 238
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5267406 7.64 0.6 12.8 0.9 19.6 88.2 0.2 64 1.3 0.16 298
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5267428 1.02 0.7 12.0 92.5 1056.7 510.7 0.2 604 2.1 0.47 3263
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5267430 2.53 2.5 17.0 3.7 77.7 78.5 0.1 59 9.4 0.38 464
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95th %ile 5.80 1.4 25.5 38.6 136.8 128.8 0.2 251 6.8 0.36 2178
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The rock sampling phase of the initial work program consisted of 22 samples, concentrated on the northwest and central portions of the property. Sampling in the central portion of the claims returned co-incident As, Mo, Sb, Zn anomalies along with Tl anomalies in an area drained by gold in stream sediments to 31.3 ppb. A single point Cd, Cr, Hg, Pb, Zn anomaly was recorded in the northwest of the property which will require additional follow-up.
Table 2: Rock Sample Results
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Ag As Cd Cr Cu Hg Ni Pb Sb Tl Zn
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ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm
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5267264 0.3 15.3 0.2 79.7 53.5 0.38 21.2 18.2 5.04 0.2 166
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5267265 0.67 49.4 0.64 165 49.6 0.23 15 21.7 13.2 0.1 134
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5267268 less
than
0.17 2.2 1.08 56.5 334 0.01 44.2 1.9 0.24 0.03 182
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5267270 less
than
0.25 8.5 1.71 118 192 0.01 64.3 2.4 0.95 0.02 302
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5267312 0.06 3.2 2.06 363 24.9 0.02 27.7 21.6 0.26 0.06 223
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5267313 0.2 10.1 0.55 102 24 0.08 21.5 10 1.53 0.22 78.9
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5267314 0.14 2.5 1.32 195 164 0.01 78.6 0.7 0.44 0.02 173
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5267316 0.82 5.5 0.35 123 27.7 0.37 29.9 11.2 1.49 0.13 144
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5267319 less
than
0.2 183 0.61 3.2 3.9 0.01 6.4 0.3 52.6 0.02 654
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5267320 less
than
0.17 19.1 7.41 396 96.9 1.87 15.2 279 1.17 0.02 3710
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95th %ile 0.66 49 2.00 375.0 190.0 0.75 64.0 44.0 13.00 0.20 641
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To view the Rock Sampling and Stream Sediment Sampling maps on our website, please click here.
Mr. Ron Atlas, President and Chairman states, 'We are very pleased with our progress and results to date. Our geological team is gathering further samples based on these results along with the data provided by the airborne geophysical survey. We shall analyze the collective results over the winter months with the goal of defining drill targets on the Mt. Mervyn and Joy properties. Execution of a drill program could take place as early as the spring of 2012.'
The Phase II work program began on August 4th and includes mapping and rock sampling, along with both grid and contour soil sampling to further refine the nature of the known showings. Additional prospecting will also be conducted to evaluate the remainder of each property. The Geological and logistical support for the programs is being provided by Aurora Geosciences.
A 10-person drill-ready camp was recently built on the Mt. Mervyn property to support the current work program on the Mt. Mervyn and Joy properties. This camp will be left on site and winterized. This will greatly facilitate and expedite future work on these properties.
Information with respect to the Mt. Mervyn property contained in this news release is approved by James Chapman, PGeo, a qualified person required under National Instrument 43-101.
Expedition is a publicly held Canadian exploration company focused on acquiring, exploring and developing gold properties located in favourable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies. For additional information concerning Expedition Mining Inc. or its various exploration projects please visit Expedition's website at www.expeditionmining.com.
ON BEHALF OF THE BOARD:
Ronald Atlas, President & Chairman of the Board
CAUTION REGARDING FORWARD LOOKING STATEMENTS:
This news release contains 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'can', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Expedition Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of its properties, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold. Although Expedition Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Expedition Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Issued Share Capital: 56,360,318
Standard & Poor's Listed
NR-11-14
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Contacts:
Expedition Mining Inc.
William Galine
(604) 662-3903
(604) 662-3904 (FAX)
bgaline@expeditionmining.com
www.expeditionmining.com