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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Meadow Bay Gold Corp (delisted) | TSXV:MAY | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
The purpose of the first two drill holes was to test for thickness and grade of gold and silver mineralization beneath the past producing Atlanta Pit which was closed in 1985 due to low gold prices. The mineralization occurs in a jasperoid fault breccia between overlying Tertiary volcanic rocks and Paleozoic sedimentary rocks.
Below is a table summarizing the drill results:
--------------------------------------------------------------------- Drill Hole Area Total From To Interval eAu Depth (m) (m) (m) (m) g/t --------------------------------------------------------------------- DHRC-11-01C Atlanta Pit 123.14 74.68 96.01 21.33 2.41 --------------------------------------------------------------------- DHRC-11-02C Atlanta Pit 180.74 86.87 105.16 18.29 2.06 ---------------------------------------------------------------------
The purpose of this initial drilling program is to confirm the historic indicated resource that exists on the project. Both Kinross and Gold Fields had extensive drilling programs at Atlanta in the 1990s. The first 6 core holes will either twin existing holes or drill below remaining mineralization in the historic open pit. Consequent core and RC step-out and exploration drilling will test both fault-controlled mineralization to the north as well as intrusive-hosted mineralization to the southwest of the pit. Meadow Bay Gold has engaged the firm Gustavson Associates, LLC of Boulder, Colorado to review the current and historic data with a view to preparing a updated estimate of the gold and silver resources pursuant to National Instrument 43-101.
To view map that shows the drill hole locations for the current round of drilling and cross sections, visit the following link: http://media3.marketwire.com/docs/DrillHoleMapandCrossSections.pdf
Robert Dinning, CEO commented, "We are happily surprised by these first results from our drill program at the Atlanta Gold Mine. An additional four holes in the first program are currently being analyzed at ALS Chemex with assays results expected within 4 to 6 weeks."
Bill Reed, a Qualified Person as defined by National Instrument 43-101, and Director of Meadow Bay Gold has reviewed the contents of this press release. An ongoing QA/QC program is being employed including blank, duplicate and reference standards with samples are being assayed at the ALS Chemex lab in Elko Nevada, by fire assay with a gravimetric finish. Meadow Bay Gold is focused on developing the former producing Atlanta Gold Mine in Nevada, USA. Drilling continues as does reconnaissance exploration on recently staked claims to the northwest and southeast.
Meadow Bay Gold has retained Goal Capital Inc. of Orange County, California to assist in developing and expanding its communications with the US investment community through a comprehensive investor relations program for a monthly consulting fee of US$7,000. Meadow Bay Gold has also granted Goal Capital 250,000 stock options vesting over a one year period exercisable for a period of five years at a price of $1.03 per share.
Contacts: Meadow Bay Gold Corporation Robert Dinning CEO 604-907-0901 www.meadowbaygold.com Launch IR Matthew Harrington 613-882-7467 Goal Capital Danny Gravelle 949-481-5396
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