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CGD Carlin Gold Corporation

0.26
0.01 (4.00%)
21 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Carlin Gold Corporation TSXV:CGD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.01 4.00% 0.26 0.18 0.265 0.265 0.26 0.26 20,150 21:00:00

Carlin Starts Cortez Summit Core Drilling Program

16/09/2013 2:00pm

Marketwired Canada


Carlin Gold Corporation (TSX VENTURE:CGD), ("Carlin" or the "Company") is
pleased to report that it has initiated a core drilling program on its Cortez
Summit property ("Cortez Summit" or the "Property"), Eureka County, Nevada. The
program will consist of entering and deepening one or two of the reverse
circulation holes completed in 2012 on the west side of the Property and is
designed to test deeper parts of the stratigraphic section. The two existing
holes are vertical and are 1500 feet (457 m) and 1760 feet (536 m) deep.
Approximately 1500 foot (457 m) deepening extensions are planned. The 2012
reverse circulation drilling confirmed Carlin-type geology, alteration and
geochemistry in the limited area tested, and encountered Carlin-type pathfinder
elements in six of the seven holes drilled. One of the deeper holes penetrated
and bottomed in a 300 foot (90 m) interval of variably laminated calcareous
siltstones. Carlin geologists have tentatively assigned this calcareous unit to
the Devonian Horse Canyon Formation, which overlie the rocks believed to host
the bulk of gold mineralization at Barrick Gold Corporation's neighboring new
Goldrush discovery. Goldrush lies less than a mile from the southwest corner of
the Property.


Cortez Summit is centrally located in Eureka County on the Cortez Trend, in the
middle of what has become the most active gold exploration area in Nevada. The
Property consists of 142 100%-owned unpatented claims located in the southern
Cortez Mountains between the historic Buckhorn and Horse Canyon mines. The east
edge of the Property lies 2/3 mile (1 km) west of the Buckhorn mine, and the
west edge of the Property lies 1.5 miles (2.5 km) east of the Horse Canyon mine.
Barrick's Cortez Hills operation (11 million oz gold pre-production
reserve/resource) lies 4 miles (6.4 km) west of the Property. Goldrush has grown
rapidly since the initial announcement on September 7, 2011 which stated a 3.5
million ounce inferred resource with a grade of 0.123 oz per ton gold (4.2
grams/tonne). As at December 31, 2012, the estimated resources reported by
Barrick stood at 14.1 million ounces, with a grade of 0.129 oz per ton gold (4.4
grams/tonne). The resource is open in several directions. Barrick has stated
that the geology at the new discoveries is similar to its other deposits in the
district. Barrick has announced that they are advancing the project through
prefeasibility and has stated that a number of development options are being
considered (Barrick Q2 2013 report).


CARLIN'S PROPERTIES

Carlin owns three projects in northern Nevada including Cortez Summit, all of
which represent Carlin-type gold targets. The JDS property consists of 77 100%
owned unpatented claims located in Eureka County, approximately 13 miles
southeast of Cortez Summit. The Willow property consists of 89 100% owned
unpatented claims located in northeast Nevada, northwest of the new 2.6 million
ounce Long Canyon gold discovery in the Pequop Mountains, owned by Newmont
Mining Corporation.


Carlin also owns approximately 82,000 hectares (315 square miles) distributed
over 12 project areas in Yukon, in a 50/50 joint venture with Constantine Metal
Resources Ltd (TSXV: CEM). The properties are early stage, with the initial
field evaluation program completed in 2011. Several significant gold anomalies
have been identified to date. 


"K. Wayne Livingstone"  

Notes: 

Robert Thomas CPG, Vice President of Carlin and a qualified person as defined by
Canadian National Instrument 43-101, has reviewed and approved the technical
information contained in this news release on behalf of Carlin.  


Forward looking statements: This news release includes certain "forward-looking
information" within the meaning of Canadian securities legislation and
"forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively "forward looking
statements")." Forward-looking statements include predictions, projections and
forecasts and are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect",
"potential", "project", "target", "schedule", budget" and "intend" and
statements that an event or result "may", "will", "should", "could" or "might"
occur or be achieved and other similar expressions and includes the negatives
thereof. All statements other than statements of historical fact included in
this release are forward-looking statements that involve various risks and
uncertainties. 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.  


Forward-looking statements are based on a number of material factors and
assumptions. Important factors that could cause actual results to differ
materially from Carlin's expectations include availability of capital and
financing in connection with future private placement, regulatory approval,
actual exploration results, changes in project parameters as plans continue to
be refined, results of future resource estimates, future metal prices,
availability of capital and financing on acceptable terms, general economic,
market or business conditions, uninsured risks, regulatory changes, defects in
title, availability of personnel, materials and equipment on a timely basis,
accidents or equipment breakdowns, delays in receiving government approvals,
unanticipated environmental impacts on operations and costs to remedy same, and
other exploration or other risks detailed herein and from time to time in the
filings made by the Company with securities regulators. Although the Company has
attempted to identify important factors that could cause actual actions, events
or results to differ from those described in forward-looking statements, there
may be other factors that cause such actions, events or results to differ
materially from those anticipated. There can be no assurance that
forward-looking statements will prove to be accurate and accordingly readers are
cautioned not to place undue reliance on forward-looking statements.


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 news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Carlin Gold Corporation
K. Wayne Livingstone
President and Chief Executive Officer
(604) 638-1402
(604) 608-3878 (FAX)
www.carlingold.com

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