Jet Gold Corp. - Big Hammer Completes Phase-one Drill Plan

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 g/t.

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

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].

Big Hammer     Gold/Silver/Tellurium (Au/Ag/Te) property located 13 km southeast of Terrace
Silver Bay     Silver/Zinc (Ag/Zn) property located in west central BC
Kshish      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. (TSX.V: JAU)

"Brad J. Moynes"

Brad J. Moynes
President&CEO


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 info@jetgoldcorp.com

For investor relations, contact:
Gus Garisto at 416-805-3106

JetGold Corp.
885 West Georgia Street, Suite 1500, Vancouver, BC V6C-3E8
T: 604-601-2070    F: 604-683-8125
www.jetgoldcorp.com

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