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GTA Gta Resources And Mining Inc.

0.015
0.00 (0.00%)
07 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Gta Resources And Mining Inc. TSXV:GTA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.015 0.015 0.02 0 01:00:00

GTA Resources and Mining Inc.: Drill Results of 1.54 g/t Gold and 114 g/t Silver Over 21 Meters from Yukon Program

08/10/2013 1:00pm

Marketwired Canada


GTA Resources and Mining Inc. (TSX VENTURE:GTA) announces that final assay
results have been received from its recently completed four hole (428 meter)
drill program at the Exploits Zone on the Squid East Project in the Yukon. The
recent results show the new zone to have significant gold and silver
mineralization returning assay results up to 1.54 grammes per tonne (g/t) gold
(Au) and 114 g/t silver (Ag) and 0.31% lead (Pb) over 21 meters (m) in hole
SE13-002. This hole also contained a higher grade zone of 2.43 g/t Au and 185
g/t Ag and .47% Pb over 12 meters. 


The drilling program focused on results from a previously completed trenching
program (see news release: Sept. 12, 2013), and a strong northwest trending gold
plus pathfinder element soil anomaly. The program was designed to obtain a
better understanding of the geometry and style of mineralization at the Exploits
Zone. The initial three holes appear to have all collared in the zone and the
fourth hole, which was drilled in the opposite direction, was drilled down dip
and remained in the interpreted footwall for its entire length. A table of
significant results is shown below: 




----------------------------------------------------------------------------
                               From     To   Length                         
Hole                            (m)     (m)     (m)   Au g/t   Ag g/t   Pb %
----------------------------------------------------------------------------
SE13-001                       9.00   21.00   12.00    1.699   81.775  0.312
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
SE13-002                      12.00   33.00   21.00    1.547  114.121  0.315
----------------------------------------------------------------------------
incl.                         14.00   26.00   12.00    2.431  185.254  0.470
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
SE13-003                       6.50   13.00    6.50    0.371   39.892  0.664
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
SE13-004      No Significant Assays                                         
----------------------------------------------------------------------------



The trenching and drilling carried out over the past season was intended to find
a bedrock source to the strong gold plus pathfinder soil anomaly defined in
2012. Results to date indicate that the trenching and drilling may have clipped
the eastern side of a gold-silver alteration system which is wide open for
expansion. The intersected mineralization is completely oxidized and the
combined gold and silver values make this zone somewhat unique in the White Gold
District. A follow-up drill program is being contemplated for 2014.


All split core samples were sent to Acme Analytical Laboratories Ltd. located in
Vancouver, B.C. The precious metals were analyzed utilizing a standard fire
assay with an atomic absorption finish and the lead assays were fire assayed
with an ICP finish. As part of GTA's QAQC protocol, approximately 10% of the
samples submitted for assay were also sent for check assays. Standards and
blanks were inserted randomly into the sample shipments as part of the sampling
protocol.


GTA can earn an initial 51% interest in the Squid East property from Metals
Creek Resources Corp. ("MEK") and can increase its interest to 70% as previously
announced in a press release dated 12 January 2013. MEK will be the operator
during the initial earn-in period. 


MEK staked the Yukon properties in February, 2011 and has a 100% interest in
four separate claim blocks (242 claims) within the White Gold District. The
Squid East claims are located proximal to the Matson Creek placer gold
operations, approximately 90km southwest of Dawson City. A four wheel drive
access road and airstrip service the placer camp and MEK's current field work
availed of the placer camp airstrip, accommodations and equipment to help carry
out the program. During the trenching program, a six km access trail was
completed from the Matson Creek four wheel drive road to the target area, making
access more cost effective. 


Robert Duess, P. Geo, VP Exploration for GTA and a qualified person as defined
in National Instrument 43-101, is responsible for this release, and supervised
the preparation of the information forming the basis for this release.


About GTA

GTA is a well funded publicly traded mineral exploration company. It is led by
an experienced and successful management team and is focused on gold exploration
in Canada. GTA currently has three exploration focused projects in its
portfolio. Its flagship project, the Northshore Property, located near
Schreiber, Ontario, is subject to an option agreement with Balmoral Resources
Ltd. ("TSXV:BAR") whereby GTA can earn up to a 70% interest. Secondly, GTA has
entered into an option agreement with Metals Creek Resources Corp. ("MEK") to
earn up to a 70% interest in the Squid East Property in the White Gold District,
Yukon. The third project, the 100% owned Auden Property, is located near Hearst,
Ontario and consists of 1748 claim units covering virtually an entire greenstone
belt and hosting a number of graphite, gold, base metal and PGE targets.


GTA has 26,731,855 shares outstanding of which insiders control approximately
30% of the outstanding shares. The Company's shares trade on the TSX Venture
Exchange under the symbol "GTA."


On behalf of the board of directors

GTA Resources and Mining Inc.

Wayne Reid, President and CEO 

For more information, please visit the corporate website at www.gtaresources.com.

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 press release. 


This press release contains forward-looking statements and forward-looking
information (collectively, "forward looking statements") within the meaning of
applicable Canadian and United States securities laws. All statements, other
than statements of historical fact, included herein, including statements
regarding the anticipated content, commencement, duration and cost of
exploration programs, anticipated exploration program results, the discovery and
delineation of mineral deposits/resources/reserves, the timing of the receipt of
assay results, and business and financing plans and trends, are forward-looking
statements. Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and similar
expressions or are those which, by their nature, refer to future events.
Although the Company believes that such statements are reasonable, there can be
no assurance that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. The Company cautions investors that any forward-looking statements
by the Company are not guarantees of future performance, and that actual results
may differ materially from those in forward-looking statements. Important
factors that could cause actual events and results to differ materially from the
Company's expectations include those related to weather, equipment and staff
availability; performance of third parties; risks related to the exploration
stage of the Company's projects; market fluctuations in prices for securities of
exploration stage companies and in commodity prices; and uncertainties about the
availability of additional financing; risks related to the Company's ability to
identify one or more economic deposits on the properties, and variations in the
nature, quality and quantity of any mineral deposits that may be located on the
properties; risks related to the Company's ability to obtain any necessary
permits, consents or authorizations required for its activities on the
properties; and risks related to the Company's ability to produce minerals from
the properties successfully or profitably. Trading in the securities of the
Company should be considered highly speculative. All of the Company's public
disclosure filings may be accessed via www.sedar.com and readers are urged to
review these materials, including the latest technical reports filed with
respect to the Company's mineral properties.


This press release is not, and is not to be construed in any way as, an offer to
buy or sell securities in the United States.


FOR FURTHER INFORMATION PLEASE CONTACT: 
GTA Resources and Mining Inc.
Wayne Reid
President and CEO
709 699 1733
www.gtaresources.com

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