VANCOUVER, Nov. 3, 2011 /CNW/ - Jet Gold Corp. (TSXV: JAU) today announced the completion of the phase-one drilling program at its
Big Hammer property near Terrace, BC. Mineralized core from the
830-meter Big Hammer gold drilling program has been shipped to AGAT
Laboratories' facility in Missassuga, ON for assay. Results are
expected by mid-November.
Trench samples at the original "380" roadcrop with up to 93 g/t gold
(see September 28th press release) were followed up in October by seven close-spaced drill
holes (20-meter centers) and four step-out holes at the Big Hammer gold
property. Quartz -sulfide-telluride vein and shear mineralization
within quartz-chlorite alteration envelopes the low-angle "380 Fault"
at Big Hammer, extending 260 meters horizontally and at least 120
meters down structural dip from outcrop.
Five new surface grab samples 200 meters east of the original "380"
roadcrop returned the following results - Gold: 29.9 g/t, 20.9 g/t,
17.7 g/t, 9.9 g/t and 0.2 g/t; Silver: 429 g/t, 284 g/t, 335 g/t, 174
g/t and 15.7 g/t; Tellurium: 314 g/t, 213 g/t, 145 g/t, 104 g/t and 5.2
Donald G. Strachan, JetGold's Consulting Geologist and QP at Big Hammer,
says " I am grateful for the geologic continuity of structure,
alteration and mineralization seen in every hole to date, and am
confident this structural horizon will be extended by future drilling
phases. Banded quartz-sulfide-telluride vein intercepts up to one
meter are present in seven of the 11 holes drilled through the
quartz-chlorite-flooded 380 Fault. Multiple quartz-sulfide-telluride
vein intercepts within the 380 Fault were encountered by four of the 11
holes. Substantial vein thicknesses and grades are reasonable
expectations along the 380 Fault at Big Hammer."
Further information, including assay results, will be provided upon
receipt from AGAT.
JetGold's disclosures of a technical or scientific nature in this news
release have been reviewed and approved by Donald G. Strachan (M.Sc, CPG), JetGold's Consulting
Geologist, who serves as a Qualified Person under the definition of
National Instrument 43-101.
JetGold is a Canadian resource exploration company actively developing gold,
silver, copper, zinc, molybdenum and tellurium mineral resource
properties in British Columbia, Canada. The company is currently
undertaking exploration of two precious metal properties [Big Hammer
and Silver Bay] and one base metal property [Kshish].
Gold/Silver/Tellurium (Au/Ag/Te) property located 13 km southeast of
Silver/Zinc (Ag/Zn) property located in west central BC
Copper/Molybdenum (Mo/Cu) property located 15 km northeast of Terrace
JetGold is strategically investing in the Terrace and Smithers mining
districts of British Columbia based on excellent road access, abundant
power and water supply and close proximity to CN Rail lines and the
Fairview Terminal deep water container port in Prince Rupert. The port
is an important part of the Government of Canada's "Asia-Pacific Gateway & Corridor Initiative" and the Province of British Columbia's "Pacific Gateway" strategy.
Additional information at: www.jetgoldcorp.com
On behalf of the Board of Directors,
Jet Gold Corp.
"Brad J. Moynes"
Brad J. Moynes
Forward Looking Information: 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 release.
Statements containing forward-looking information express, as at the
date of this news release, the Company's plans, estimates, forecasts,
projections, expectations or beliefs as to future events or results and
are believed to be reasonable based on information currently available
to the Company.
Forward-looking statements and information are based on assumptions that
financing and personnel will be available when required and on
reasonable terms, and all necessary regulatory approvals and
shareholder approval will be obtained, none of which are assured and
are subject to a number of other risks and uncertainties
There can be no assurance that forward-looking statements will prove to
be accurate. Actual results and future events could differ materially
from those anticipated in such statements. Readers should not place
undue reliance on forward-looking information.
SOURCE Jet Gold Corp.
For further information:
For corporate information, contact:
Brad Moynes at 604-601-2070 or email@example.com
For investor relations, contact:
Gus Garisto at 416-805-3106
885 West Georgia Street, Suite 1500, Vancouver, BC V6C-3E8
T: 604-601-2070 F: 604-683-8125