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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| International Wayside Gold Mines New Com Npv | TSXV:WYG | 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 | - |
Hot Features
Premium
International Wayside Gold Mines Ltd. ("Wayside", the "Company")(TSX
VENTURE:WYG)(FRANKFURT:IWUB) wishes to announce that it has discovered a new
zone, outside and north west of the proposed Cariboo Gold Quartz open pit mine
on Cow Mountain, of replacement-like gold mineralization in a rock type not
known before to carry gold within this camp. The assay results from the
Company's 2009 drill campaign follow below. Highlights of these assays include:
-- Drill hole CM09-07 intercepted replacement-like gold mineralization:
-- 13.5 meters (44.2 feet) of 5.06 g/T (0.148 oz/t) gold
-- Drill hole CM09-08 intercepted both replacement and quartz vein style
gold mineralization:
-- 10.1 meters (33.3 feet) of 1.51 g/T (0.044 oz/t) gold
The new replacement-like mineralization found in holes CM 09-06, 07, 08 and 11
is distinctly different than that found in the NI 43-101 resource at the
proposed open pit at Cow Mountain and bears similarities to, yet different from,
the higher-grade replacement ore found on the adjacent Island Mountain and
Barkerville Mountain (the proposed Bonanza Ledge mine). While quartzite carrying
lower-grade pyrite (with less gold associated with it) is common in the camp,
drill hole CM09-07 carrying only 1-3% disseminated pyrite and/or blebs, for the
first time returned as high 49.5 g/T gold in the pure grey blocky quartzite of
Rainbow 1 Sub-unit at the Baker-Rainbow contact - indicating the potential
discovery of a fourth style of gold mineralization on the Company's project.
Further drilling will be conducted in 2010 to gain a better control and
understanding of the continuity of both the replacement/replacement-like and the
quartz vein types of mineralized body intercepted by drill hole CM09-07, CM09-08
and other related drill holes mentioned above in the northwest Cow Mountain
area.
The 2009 drill program on Cow and Barkerville Mountains targeted both the
replacement and quartz vein types of gold mineralization. In total, 13 diamond
drill holes (of which, 11 are on Cow Mountain and 2 on Barkerville Mountain)
have been completed in the 2009 calendar year. Drill holes CM09-04 through
CM09-11 are the first drill holes that the Company has done in the northwest Cow
Mountain area, outside of the proposed pit.
About International Wayside Gold Mines
The Company has been developing its Cariboo Gold Project in Barkerville, B.C.,
which encompasses (from northwest to south east) the former producing
Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine (now on care and
maintenance), Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine,
Bonanza Ledge (proposed mine), the Cariboo Thompson Gold & Silver Mine and the
Cariboo Hudson Mine. The Company commenced operations in the Cariboo District in
1994 and since that time has focused on the exploration and development of its
gold properties. The Company's mineral tenures in the Historic Barkerville Gold
Camp encompass approximately 1,065 square km (106,484 hectares) over a 60km by
20km wide belt. In the Historic Barkerville Gold Camp, 101 creeks have reported
placer gold production. Recorded gold production from the area totals more than
3.8 million ounces, including an estimated 2.64 million ounces from placer
mining and 1.23 million ounces from lode mining. On December 16, 2009, the
Company entered into an agreement by which it will acquire the QR Mine and Mill,
110km by road from its Bonanza Ledge proposed open pit gold deposit.
The technical information in this News Release has been reviewed and approved by
Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National
Instrument 43-101.
Table 1. SUMMARY OF ASSAYS OF 2009 DRILL HOLES
----------------------------------------------------------------------------
Drill Pad # Drill Hole From To Width Gold
-----------------------------------------------
Feet Feet g/T oz/t
----------------------------------------------------------------------------
----------------------------------------------------------------------------
A 1 CM09-04 269.6 276.0 6.4 0.16 0.005
-----------------------------------------------
301.0 306.0 5.0 0.10 0.003
----------------------------------------------------------------------------
B 2 CM09-05 42.5 48.4 5.9 0.40 0.012
-----------------------------------------------
90.9 103.7 12.8 0.39 0.011
-----------------------------------------------
149.6 176.0 26.4 0.19 0.006
-----------------------------------------------
286.0 305.3 19.3 0.43 0.013
-----------------------------------------------
including
-----------------------------------------------
295.5 298.9 3.4 1.13 0.033
-----------------------------------------------
312.3 316.0 3.7 0.14 0.004
-----------------------------------------------
325.5 333.0 7.5 0.24 0.007
----------------------------------------------------------------
3 CM09-06 36.0 66.0 30.0 0.85 0.025
-----------------------------------------------
including
-----------------------------------------------
46.8 47.4 0.6 25.3 0.738
-----------------------------------------------
110.0 120.7 10.7 1.07 0.031
-----------------------------------------------
including
-----------------------------------------------
114.7 116.3 1.6 6.73 0.196
-----------------------------------------------
170.6 201.0 30.4 0.97 0.028
-----------------------------------------------
including
-----------------------------------------------
185.8 188.8 3.0 8.45 0.246
----------------------------------------------------------------------------
C 4 CM09-07 97.5 106.2 8.7 1.18 0.034
-----------------------------------------------
including
-----------------------------------------------
98.3 98.9 0.6 16.2 0.472
-----------------------------------------------
236.0 248.4 12.4 0.33 0.010
-----------------------------------------------
346.0 356.0 10.0 0.56 0.016
-----------------------------------------------
361.8 406.0 44.2 5.06 0.148
-----------------------------------------------
including
-----------------------------------------------
361.8 367.4 5.6 1.70 0.050
-----------------------------------------------
378.2 379.7 1.5 21.1 0.615
-----------------------------------------------
382.5 385.5 3.0 49.5 1.444
-----------------------------------------------
390.1 393.9 3.8 4.16 0.121
-----------------------------------------------
400.3 406.0 5.7 2.40 0.070
----------------------------------------------------------------
5 CM09-08 194.0 196.8 2.8 18.5 0.540
-----------------------------------------------
210.4 219.4 9.0 0.48 0.014
-----------------------------------------------
224.5 246.0 21.5 0.11 0.003
-----------------------------------------------
316.0 318.1 2.1 0.41 0.012
-----------------------------------------------
384.5 417.8 33.3 1.51 0.044
-----------------------------------------------
including
-----------------------------------------------
384.5 392.7 8.2 4.21 0.123
-----------------------------------------------
412.0 417.8 5.8 2.40 0.070
----------------------------------------------------------------
6 CM09-09 96.0 112.9 16.9 0.18 0.005
-----------------------------------------------
190.6 223.4 32.8 0.99 0.029
-----------------------------------------------
including
-----------------------------------------------
198.7 206.0 7.3 3.16 0.092
-----------------------------------------------
516.0 536.0 20.0 0.50 0.014
-----------------------------------------------
including
-----------------------------------------------
520.7 526.0 5.3 1.68 0.049
-----------------------------------------------
546.0 556.0 10.0 0.91 0.027
-----------------------------------------------
including
-----------------------------------------------
553.0 556.0 3.0 2.25 0.066
-----------------------------------------------
646.0 686.0 40.0 0.42 0.012
----------------------------------------------------------------------------
D 7 CM09-10 183.9 186.0 2.1 1.12 0.033
----------------------------------------------------------------
8 CM09-11 156.0 177.8 21.8 0.39 0.011
-----------------------------------------------
including
-----------------------------------------------
166.0 166.6 0.6 8.32 0.243
-----------------------------------------------
181.1 224.4 43.3 0.25 0.007
-----------------------------------------------
234.5 246.0 11.5 1.82 0.053
-----------------------------------------------
including
-----------------------------------------------
234.5 239.6 5.1 3.50 0.102
-----------------------------------------------
306.0 316.0 10.0 0.11 0.003
-----------------------------------------------
356.0 381.0 25.0 0.56 0.016
----------------------------------------------------------------------------
E 9 LH09-01 282.0 298.3 16.3 0.20 0.006
-----------------------------------------------
439.4 466.0 26.6 0.30 0.009
-----------------------------------------------
including
-----------------------------------------------
454.5 456.0 1.5 1.43 0.042
-----------------------------------------------
468.0 506.0 38.0 0.53 0.015
-----------------------------------------------
including
-----------------------------------------------
476.4 480.4 4.0 2.60 0.076
----------------------------------------------------------------------------
F 10 LH09-02 12.0 26.0 14.0 0.19 0.006
-----------------------------------------------
81.6 96.7 15.1 0.44 0.013
-----------------------------------------------
212.4 231.0 18.6 0.14 0.004
-----------------------------------------------
287.9 294.7 6.8 0.54 0.016
-----------------------------------------------
441.2 453.0 11.8 1.13 0.033
-----------------------------------------------
including
-----------------------------------------------
441.2 446.0 4.8 2.45 0.071
-----------------------------------------------
457.0 479.2 22.2 0.16 0.005
----------------------------------------------------------------------------
On Behalf of the Board of Directors
J. Frank Callaghan, President
This news release contains forward-looking statements regarding the timing and
content of upcoming programs. Actual results may differ materially from those
currently anticipated in such statements.
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