Targeting gold zones that were never fully tested
Shares Outstanding: 104.8 Million
Symbol & Exchange: BNT.V
MONTREAL, April 12 /CNW Telbec/ - Blue Note Mining Inc. (TSXV: BNT) is currently preparing a drill program to test previously identified zones of gold mineralization that were drilled but never followed up on at its 100 percent-owned Chimo gold property located near Val-d'Or, Quebec.
Four distinct zones of gold mineralization were identified by the previous owner; Cambior Inc. Cambior ceased mining operations there in 1996. The Chimo gold mine operated on three separate extended occasions between 1966 and 1996.
These four mineralized gold zones that warrant follow up drilling are located in close proximity to the Chimo mine shaft.
Drilling on Zone 6P which is located close to the Chimo mine workings reported some of the highest gold values. Drill hole 497-86-08 assayed 57.73 grams of gold over 1.54 meters. Drill hole 120-760 assayed 22.73 grams over 3.34 meters and drill hole 497-86-09 returned 16 grams of gold over 3 meters. These holes line up on a near vertical axis.
A planned two-hole exploration program will test the continuity of Zone 6P near surface and at depth.
Zone 2 West is also close to the Chimo mine workings and is in the sector of the original discovery of the mine. A 160 meter hole, drilled prior to closure of the mine, intersected mineralization 10 meters beneath the Chimo mine workings. This drill hole, 497-80-35 assayed 29.1 grams per tonne of gold over 3 meters. Blue Note is planning an exploration hole to test continuity of this mineralization at depth.
At the Nova dyke zone four holes were drilled into the dyke formation over a horizontal distance of 350 meters and at depths ranging from 70 to 230 meters vertical. Assays ranged from 6.1 grams gold over 0.6 meters to 6.8 grams gold over 1.55 meters. This formation is also open at depth and to the west. Blue Note will test its continuity at depth with its current program.
In the zone in which drill hole CH-95-05 is located, three drill holes aligned near vertically were reported to return interesting gold assays. This zone has a short horizontal extension but is continuous over 100 meters vertically and has interesting thickness. A hole is planned to intersect the zone 200 meters below the deepest intersection.
Chimo Gold Mines Inc. extracted 140,000 tonnes at 14.8 grams of gold per tonne from 1966 to 1984. Louvem Mines Inc. exploited the Chimo mine between 1984 and 1988 extracting a total of 493,000 tonnes at an average grade of 5.69 grams gold per tonne. The mine was operated by Cambior Inc. from 1989 to 1996. Following infrastructure rehabilitation and the sinking of a shaft to 930 meters, Cambior mined 1,692,000 tonnes at a grade of 3.83 grams of gold per tonne.
A complete review of this and other data has unveiled a series of prospective targets. A database containing 2,322 surface and underground drill holes was imported into Gemcom software to create a three dimensional model. Blue Note is planning a 3000-meter drill program to explore some of these targets.
"The information that we are seeing from previous drilling carried out at Chimo looks very interesting" said John Martin, Blue Note's Chief Operating Officer. "We are optimistic that there is a mineable resource remaining at that site."
Blue Note's 100 per cent-owned Chimo gold property is located 25 kilometers from the Croinor gold project of which Blue Note is operator and 50 percent interest holder.
John Martin, P. Eng., Chief Operating Officer, Blue Note Mining Inc., is a Qualified Person and has reviewed the technical information contained in this press release.
About Blue Note Mining
Blue Note Mining is a mineral exploration and mining company headquartered in Montreal with properties located in known gold regions in Canada, including the prolific Val-d'Or region of Quebec and northern New Brunswick. The company's shares trade on the TSX Venture Exchange under the symbol BNT.
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
"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."
SOURCE Blue Note Mining Inc.
For further information: For further information: Glenn Massad, Vice President, Investor Relations, Blue Note Mining, (800) 937-3095 x 230, firstname.lastname@example.org; www.bluenotemining.ca