Meadow Bay Gold Completes First Hole at Its Atlanta Gold Mine Project in Nevada
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/14/12 -- Meadow Bay Gold Corporation ("Meadow Bay Gold" or the "Company") (TSX: MAY)(OTCQX: MAYGF)(FRANKFURT: 20M)(WKN A1C3DN) is pleased to report it that it has completed the first hole in its 2012 drilling program at its Atlanta Gold Mine Project, Lincoln County, Nevada.
Drilling in late 2011 discovered a zone of precious metal mineralization northwest of the historic Atlanta pit that is both thicker and higher in grade than the average resource at Atlanta. This mineralization was observed in both the Atlanta shear zone and in the porphyry. The current drilling program will focus on both in-fill drilling for the widely-spaced 2011 holes, as well as step-out drilling to the north. The existing drill program was inspired by the following results from the Company's 2011 drilling effort:
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Total
Depth Width
Drill Hole Area (m) From (m) To (m) (m) Au g/t Ag g/t
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DHRC-11-07C Jasperoid Breccia
NW of Pit 292.91 202.69 292.91 90.22 0.95 25.4
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DHRC-11-N02 Jasperoid Breccia
NW of Pit 339.85 208.84 314.02 105.18 1.99 13.0
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DHRC-11-N03 Jasperoid Breccia
NW of Pit 377.95 263.72 321.65 57.93 3.55 19.8
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DHRC-11-N04 Jasperoid Breccia
NW of Pit 385.57 329.27 350.61 21.34 2.77 9.4
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Alex Khutorsky, CEO commented, "Meadow Bay Gold is pleased to have resumed drilling at its Atlanta Gold Project. The successful work completed during our 2011 drill program is guiding our current drilling effort. This is the next step toward furthering our understanding of what we have and, perhaps, making some new discoveries along the way."
Dr. Matt Ball, P.Geo., a Qualified Person as defined by National Instrument 43-101 and independent consultant to the Company, has reviewed the contents of this press release.
Meadow Bay Gold is focused on developing the former producing Atlanta Gold Mine in Nevada, USA. Permitting for the next round of exploration drilling is ongoing.
Forward-looking information
This release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking information includes, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the calculation of a new mineral resource estimate.
Often, but not always, forward-looking information can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate" or "belief" or describes a "goal" or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking information is based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen breakdowns, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold and silver; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information 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 information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
Contacts:
Meadow Bay Gold Corporation
Alex Khutorsky
CEO
604-641-4450 or Toll Free: 1-855-777-4692
1-855-577-4622 (FAX)
www.meadowbaygold.com
Meadow Bay Gold Corporation
Charles William Reed
Director
604-641-4450
Meadow Bay Gold Corporation
Danny Gravelle
Investor Relations
949-481-5396