Josephine Mining Corp. Announces Assay Results for the Turner Gold Project
![Josephine Mining Corp. Announces Assay Results for the Turner Gold Project](https://www.minenportal.de/media/goldseiten-news.jpg)
Significant results include:
Hole Zone From
ft To
ft Interval* Au
g/t Ag
g/t Cu
% Zn
% AuEq
g/t**
TJM-73 Main Upper 246.0 255.0 9.0 8.62 29.58 4.12 0.45 15.59
TJM-73 Main Lower 898.9 922.2 31.1 3.12 13.83 2.86 3.15 9.14
TJM-74 Main Upper 450.0 530.0 80.0 4.00 8.18 0.90 1.84 6.32
TJM-74 Main Lower 775.0 835.0 60.0 1.76 54.29 0.87 11.00 8.65
TJM-74 Main Lower 879.6 813.4 33.8 8.69 8.59 2.05 1.19 12.50
TJM-75 Main Lower 983.3 1020.0 36.7 2.24 163.55 0.88 23.01 15.80
* Interval footage does not represent true widths
** Assuming 100% recovery, and converted to an equivalent gold grade for each interval using the following metal prices: $1,200 per ounce Au, $15 per ounce Ag, $3/lb Cu and $0.85/lb Zn.
Robert L. Russell, President and CEO, stated, "The 2011 drill program focused on further delineation of main ore zones and data collection for further metallurgical and geotechnical testing analysis. We are very pleased with the results and with the added confidence in the quality of the resource that the drill program has provided for the Turner Project."
In addition, JMC is pleased to announce that assay results from diamond drill hole TAB-60, previously excluded from the diamond drill database used to develop the Turner Gold Preliminary Economic Assessment (PEA), will be included in the 1Q2012 PEA update. A location verification criterion for TAB-60 that had failed during development of the 2009 PEA has been rectified through the diligent efforts of JMC site personnel. All other criterion for inclusion of TAB-60 data in the PEA had been met during the 2009 due diligence work, allowing JMC to use the TAB-60 data for the scheduled PEA update. Note that TAB-60 assay information dates from the mid-1980s and was calculated using ounces per short ton rather than grams per metric tonne, and is reported accordingly below.
Significant results include:
Hole Zone From
ft To
ft Interval* Au
opt Ag
opt Cu
% Zn
% AuEq opt**
TAB-60 Main Upper 315.0 340.0 25.0 0.003 2.480 0.940 11.31 0.241
TAB-60 Main Upper 360.0 370.0 10.0 0.293 0.350 3.780 0.310 0.491
TAB-60 Main Lower 800.4 875.6 75.2 0.103 0.280 1.960 3.881 0.260
* Interval footage does not represent true widths
**Assuming 100% recovery, and converted to an equivalent gold grade for each interval using the following metal prices: $1,200 per ounce Au, $15 per ounce Ag, $3/lb Cu and $0.85/lb Zn.
To view Figure 1, please click on the following link: http://media3.marketwire.com/docs/j111.pdf
Assay Information
The following is additional information regarding the drill holes and assay results from TJM-73, TJM-74, TJM-75, and historic drill hole TAB-60. The data were averaged over the specific intervals referenced. Contained metal values are used throughout. Assays are converted to an equivalent gold grade (shown in the right hand column of the tables) for each interval using the following metal prices: $1,200 per ounce Au, $15 per ounce Ag, $3/lb Cu and $.85/lb Zn.
The intercepts have visible pyrite, chalcopyrite and sphalerite, and are likely connected to the layer zones denoted in the Company's NI 43-101 report on the property (see www.sedar.com) as the MUZ – Main Upper Zone and the MLZ – Main Lower Zone. The mineral resource is a Cyprus-type, ophiolite-hosted volcanogenic massive sulfide (VMS) gold, copper, and zinc deposit.
TJM-73 Assays
TJM-73 is an "HQ" diamond drill core hole with a collar elevation of 2,874 feet (876 meters) located at Northing: 15256076 meters and Easting: 1434936 meters (UTM NAD 83) with a surface azimuth of 200.3 degrees and an inclination of 75.5 degrees from the horizontal.
The following tables provide relevant available assay information for diamond drill hole TJM-73, which was completed to a depth of 1,133.9 feet (345.6 meters) and intercepted zones of massive and semi-massive sulfides associated with both the Main Upper Zone (MUZ) and the Main Lower Zone (MLZ). The assay information has been reported over specific intercepts within the MUZ from 246 to 255 feet (75.0 to 77.7 meters) and within the MLZ from 898.9 to 922.2 feet (274.0 to 281.1 meters).
Table 1: TJM-73 Assays (MUZ intercept)
Start (ft) End (ft) Interval (ft) Au (g/t) Ag (g/t) Cu (%) Zn (%)
246.0 247.5 1.5 23.6747 37.1945 5.086% 0.198%
247.5 251.8 4.3 8.6972 39.0089 5.961% 0.259%
251.8 255.0 3.2 1.4578 13.3356 1.181% 0.830%
Table 2: TJM-73 Assays (MLZ intercept)
Start (ft) End (ft) Interval (ft) Au (g/t) Ag (g/t) Cu (%) Zn (%)
898.9 905.0 6.1 3.3992 12.8820 3.044% 2.634%
905.0 910.0 5.0 3.9889 19.0508 4.219% 4.777%
910.0 915.0 5.0 2.9366 17.8715 3.124% 4.031%
915.0 920.0 5.0 2.7914 8.8904 1.732% 1.703%
920.0 922.2 2.2 1.5667 6.6224 1.274% 2.154%
TJM-74 Assays
TJM-74 is an "HQ" diamond drill core hole with a collar elevation of 2,752 feet (838.8 meters) located at Northing: 15256084 meters and Easting: 1435150 meters (UTM NAD 83) with a surface azimuth of 211.2 degrees and an inclination of 63.4 degrees from the horizontal.
The following tables gives relevant available assay information for diamond drill hole TJM-74, which was completed to a depth of 1,015.0 feet (309.4 meters) and intercepted zones of massive and semi-massive sulfides associated with both the MUZ and the MLZ. The assay information has been reported over specific intercepts within the MUZ from 450 to 530 feet (137.2 to 161.5 meters) and within the MLZ from 775.0 to 835.0 feet (236.22 to 254.5 meters) and from 879.6 to 913.4 feet (268.1 to 278.4 meters).
Table 3: TJM-74 Assays (MUZ intercept)
Start (ft) End (ft) Interval (ft) Au (g/t) Ag (g/t) Cu (%) Zn (%)
450.0 455.0 5.0 2.0684 11.5212 0.494% 4.022%
455.0 460.0 5.0 2.6308 9.2533 0.500% 3.273%
460.0 465.0 5.0 5.3614 9.4347 0.814% 2.722%
465.0 470.0 5.0 3.9190 6.6224 0.602% 0.943%
470.0 475.0 5.0 2.8123 4.6266 0.206% 2.121%
475.0 480.0 5.0 3.3294 3.5380 0.203% 0.516%
480.0 485.0 5.0 4.6085 4.4452 0.356% 0.247%
485.0 490.0 5.0 3.7830 5.9874 0.528% 0.282%
490.0 495.0 5.0 4.6176 6.1688 0.803% 0.150%
495.0 500.0 5.0 2.8395 7.4389 0.622% 0.973%
500.0 505.0 5.0 4.5903 9.1625 0.932% 0.958%
505.0 510.0 5.0 6.2777 16.0571 1.650% 5.947%
510.0 515.0 5.0 7.6113 20.1395 3.720% 5.485%
515.0 520.0 5.0 1.9777 5.3524 0.984% 1.265%
520.0 522.4 2.4 1.3698 1.1793 0.346% 0.078%
522.4 525.0 2.6 3.4201 4.8081 0.847% 0.305%
525.0 530.0 5.0 5.2163 8.0739 1.370% 0.292%
Table 4: TJM-74 Assays (MLZ intercepts)
Start (ft) End (ft) Interval (ft) Au (g/t) Ag (g/t) Cu (%) Zn (%)
775.0 780.0 5.0 1.6511 74.4797 0.663% 2.946%
780.0 785.0 5.0 0.7720 77.7456 0.100% 6.971%
785.0 790.0 5.0 1.1521 69.0366 0.128% 6.927%
790.0 795.0 5.0 3.3929 90.2647 0.364% 13.269%
795.0 800.0 5.0 1.5422 126.0984 0.417% 37.331%
800.0 805.0 5.0 3.1751 76.6569 1.270% 31.935%
805.0 810.0 5.0 1.8507 26.8526 1.140% 7.953%
810.0 815.0 5.0 1.1249 30.4813 1.571% 9.619%
815.0 820.0 5.0 2.8848 27.3062 1.760% 10.127%
820.0 823.1 3.1 3.2296 16.1479 3.790% 3.328%
823.1 826.0 2.9 0.3656 2.3587 0.336% 0.931%
826.0 826.6 0.6 0.9798 13.5170 1.620% 5.194%
826.6 830.0 3.4 0.0590 0.2722 0.031% 0.084%
830.0 835.0 5.0 1.2428 39.3717 0.248% 1.645%
879.6 885.0 5.4 3.3566 10.6140 3.220% 0.463%
885.0 890.0 5.0 3.0028 8.6182 2.920% 0.730%
890.0 895.0 5.0 3.3294 6.8039 1.850% 0.167%
895.0 900.0 5.0 44.8148 15.4221 3.480% 1.875%
900.0 905.0 5.0 1.2701 5.6245 0.863% 2.035%
905.0 910.0 5.0 1.2156 4.6266 0.438% 1.380%
910.0 913.4 3.4 2.1500 8.0739 1.170% 1.982%
TJM-75 Assays
TJM-75 is an "HQ" diamond drill core hole with a collar elevation of 2,753 feet (839.1 meters) located at Northing: 15256088 meters and Easting: 1435153 meters (UTM NAD 83) with a surface azimuth of 209.8 degrees and an inclination of 73.1 degrees from the horizontal.
The following table gives relevant available assay information for diamond drill hole TJM-75, which was completed to a depth of 1,085.4 feet (330.8 meters) and intercepted zones of massive and semi-massive sulfides associated with the MLZ. The assay information has been reported over a specific intercept within the MLZ from 983.3 to 1020.0 feet (299.7 to 310.9 meters).
Table 5: TJM-75 Assays (MLZ intercept)
Start (ft) End (ft) Interval (ft) Au (g/t) Ag (g/t) Cu (%) Zn (%)
983.3 986.1 2.8 1.905 16.148 0.207% 0.150%
986.1 988.1 2.0 0.596 40.007 0.145% 8.429%
988.1 990.0 1.9 4.717 230.424 0.845% 4.520%
990.0 995.0 5.0 2.041 157.850 0.301% 23.792%
995.0 1000.0 5.0 2.032 237.682 0.232% 42.523%
1000.0 1005.0 5.0 1.769 234.960 0.478% 42.214%
1005.0 1010.0 5.0 3.892 292.113 1.577% 30.006%
1010.0 1011.7 1.7 3.819 211.374 1.565% 15.490%
1011.7 1016.0 4.3 0.684 34.382 1.000% 9.813%
1016.0 1020.0 4.0 2.132 79.741 2.513% 14.325%
TAB-60 Assays
TAB-60 is an "NQ" diamond drill core hole with a collar elevation of 2,758 feet (840.6 meters) located at Northing: 15255933 meters and Easting: 1435193 meters (UTM NAD 83) with a surface azimuth of 253.2 degrees and an inclination of 61.1 degrees from the horizontal.
The following tables gives relevant available assay information for diamond drill hole TAB-60, which was completed to a depth of 876.2 feet (267.1 meters) and intercepted zones of massive and semi-massive sulfides associated with the MUZ and MLZ. The assay information has been reported over three specific intercepts: from 315 to 340 feet (96.0 to 103.7 meters); from 360 to 370 feet (109.8 meters to 112.8 meters); and from 800.4 to 875.6 feet (244.0 meters to 267.0 meters.)
Table 6: TAB-60 Assays (MUZ intercepts)
Start (ft) End (ft) Interval (ft) Au (opt) Ag (opt) Cu (%) Zn (%)
315.0 320.0 5.0 0.005 2.48 1.15 12.5
320.0 325.0 5.0 0.002 3.07 0.69 13.0
325.0 330.0 5.0 0.001 1.08 0.61 7.90
330.0 335.0 5.0 0.005 3.07 1.00 14.5
335.0 340.0 5.0 0.001 2.70 1.25 8.65
360.0 365.0 5.0 0.569 0.37 4.15 0.28
365.0 370.0 5.0 0.017 0.34 3.4 0.33
Table 7: TAB-60 Assays (MLZ Intercepts)
Start (ft) End (ft) Interval (ft) Au (opt) Ag (opt) Cu (%) Zn (%)
800.4 805.0 4.6 0.071 0.52 1.35 6.45
805.0 810.0 5.0 0.066 0.60 1.45 8.85
810.0 815.0 5.0 0.003 0.17 0.90 4.55
815.0 820.0 5.0 0.048 0.43 1.05 8.20
820.0 825.0 5.0 0.060 0.27 1.1 4.15
825.0 830.0 5.0 0.196 0.34 1.95 3.50
830.0 835.0 5.0 0.055 0.27 1.45 4.95
835.0 840.0 5.0 0.091 0.26 1.80 5.20
840.0 845.0 5.0 0.110 0.29 1.30 4.65
845.0 850.0 5.0 0.315 0.29 3.15 3.25
850.0 855.0 5.0 0.172 0.30 5.20 2.00
855.0 860.0 5.0 0.116 0.27 3.85 1.05
860.0 865.0 5.0 0.116 0.17 1.60 0.83
865.0 870.0 5.0 0.088 0.10 2.35 0.85
870.0 875.6 5.6 0.045 0.04 0.99 0.39
Investors may look forward to further updates on the Turner Gold Project as management remains committed to maximizing shareholder value through a focused development, permitting, and acquisition plan.
Assay Methodology: Metcon Research (METCON), in Tucson Arizona has performed all primary sample preparation. ICP lab analyses have been completed by METCON and American Analytical Lab (AAL) in Sparks, Nevada. Gold fire assays with AA finish and ICP checks of METCON were completed by AAL. Gold fire assay checks and ICP checks of AAL were completed by Activation Laboratories, Ltd. in Thunder Bay, Ontario.
Michael Strickler of LithoLogic Resources, LLC, a qualified person under NI 43-101, has reviewed the contents of this news release.
Disclaimer for Forward-Looking Information
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events, such as the statements regarding mineralization and assay results. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
These forward-looking statements reflect management's current views and are based upon certain expectations, estimates and assumptions that may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, such as the current economic conditions and the state of mineral exploration and mineral prices in general. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. The Company can offer no guarantee that the goals and objectives detailed above will be accomplished, in part or at all.
These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks Factors" section in the Annual Information Form of the Company dated June 14, 2011 and available on www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Josephine Mining Corp.
Robert Dumont, Vice-President
(509) 343-3193
(509) 343-3194 (FAX)
info@josephinemining.com
www.josephinemining.com
CHF Investor Relations
Juliet Heading, Senior Account Manager
(416) 868-1079 x239
(416) 868-6198 (FAX)
juliet@chfir.com
www.chfir.com