Samples considered strongly anomalous
TSX Venture Exchange Symbol: CTG
Frankfurt Exchange Symbol: DFB
VANCOUVER, Oct. 4 /CNW/ - Global Minerals Ltd. (CTG:TSXV, DFB:Frankfurt),
is pleased to announce the beginning of a drilling program focused on the
highest priority areas of three target zones named North Limb, Main and South
Limb at Quarter Horse Ranch - Nevada.
Two vertical reverse circulation holes are planned to test each target,
for a total of six holes. Drill hole depths will range from 1,000 to
1,200 feet, for a total of approximately 7,000 feet. Drill site construction
was completed in July, and a reverse-circulation drill rig arrived on the
property this week. Drilling is expected to take several weeks with assay
results to be released as soon as they are available.
Data compilation and validation has been completed on the Quarter Horse
Ranch Project and all available data has been combined to create a 3D model. A
comprehensive 3D model integrating geology, geophysics and surface/subsurface
geochemistry has never been completed in the project area before and it has
proven highly effective furthering the understanding of the complex site
geology and the relationships between structures and mineralization.
SAMPLES CONSIDERED STRONGLY ANOMALOUS
As part of the drill site construction completed in July, 52 rock chip
samples were taken from the newly exposed rock outcrops along the roads and
drill pads. Samples were generally continuous 20 foot grab samples along the
road cuts. All samples were analyzed for gold, silver, and a 34-element suite
of trace elements. 20 samples were taken within the North Limb target area,
24 samples within the Main target area, 24 samples within the Main target
area, and 8 samples from the South Limb target.
Drill road construction within the North Limb target exposed altered
upper plate Snow Canyon sandstones, siltstones, and cherts. Seven of the
20 samples taken in the North Limb target returned gold values of 10 ppb or
higher, with values up to 53 ppb gold. Arsenic averaged 66 ppm, and included
values up to 260 ppm. Antimony averaged 11 ppm, with values up to 38 ppm.
These levels of trace elements are considered strongly anomalous in upper
plate rocks of the Jerritt District.
New drill roadcuts in the Main target exposed altered Snow Canyon rocks,
as well as lower plate Roberts Mountains carbonate rocks. 17 of the 24 samples
taken possessed gold values of 10 ppb or more, with high values of 170, 103,
and 61 ppb. These gold values are highly encouraging, and the best samples
were taken in the roadcuts immediately above the sites of proposed drill holes
QH-3 and QH-4. Arsenic values averaged a strongly anomalous 138 ppm, with high
values of 340, 254, and 242 ppm. Antimony averaged 20 ppm, with high values of
63 and 58 ppm.
Drill road construction exposed Snow Canyon sandstones, siltstones, and
cherts in the South Limb target. Because outcrop exposure was generally poor
in the area, only 8 rock chip samples were taken. All of the samples taken
possessed gold values of 10 ppb or more, with high values of 28 and 26 ppb.
Arsenic values averaged 42 ppm, with high values of 71 and 67 ppm. Antimony
averaged 10 ppm, with a high value of 19 ppm.
DRILL RESULTS REPORTED BY QUEENSTAKE RE
The management of Global Minerals Ltd. are encouraged by drill results
reported by Queenstake Resources Ltd. The project is within the Jerritt Canyon
mining district adjacent to Queenstake.
Highlights from two of Queenstakes news releases are quoted:
On August 3, 2006, Queenstake Resources Ltd. announced one of the best
drill intervals in the three-decade history of Jerritt Canyon exploration of
140 feet with an average grade of 0.46 ounce per ton gold (opt) or 43 meters
of 16 grams of gold per ton. (g/t). This interval included an intercept of
70 feet of 0.6 oz/t (21 meters of 22 g/t). This discovery of high-grade gold
mineralization at Starvation Canyon is located between two known mineral
resource zones and could represent a newly identified northwest trending
On August 16, 2006, Queenstake Resources Ltd. intercepted high-grade gold
mineralization in underground exploration drilling along extensions of
mineralized trends at the Mahala deposit (Smith Mine). Results included
intercepts 40 feet grading 1.82 ounces of gold per ton (oz/t) or 12.2 meters
of 62 grams of gold per tonne (g/t) and 30 feet of 0.91 oz/t (9.1 meters of
31 g/t) along the Mahala Dike Trend and located in close proximity to the
current development drift at Smith.
ABOUT THE QUARTER HORSE RANCH PROJECT
The Global Minerals Quarter Horse Ranch Project is a Carlin-type,
sediment-hosted gold prospect located on the western flank of the Independence
Range in north-central Elko County, Nevada. The project controls 2025 acres of
fee surface, fee mineral and unpatented mining claims through a mining lease
and surface use agreement. The project is within the Jerritt Canyon mining
district adjacent to Queenstake Resources Ltd.
The eastern boundary of the property lies approximately 1,000 feet west
of the Mill Creek open pit mine. The gold deposits are Carlin-type
sediment-hosted, replacement-type gold deposits. Gold occurs as micron size
particles of carbonates and fine-grained, calcareous, clastic sedimentary
Jerritt Canyon has produced more than 7,000,000 ounces of gold since
production began in 1981 (Queenstake, 2005). Mineralization at Jerritt Canyon
is primarily found within the base of the Roberts Mountains Formation and the
Upper Hanson Creek Formation. Gold mineralization is structurally controlled
by high angle northeast, northwest and west-northwest trending folds and
faults that acted as conduits for mineralizing fluids. The mineralizing fluids
appear to have deposited gold as stratiform bodies where conduits intersected
favorable stratigraphic intervals. Much of the higher grade, more continuous
gold mineralization occurs where two sets of high angle structures intersect
and cut favorable stratigraphy.
This press release was prepared by George Heard, B.Sc., MBA, P.Eng, a
qualified person in accordance with National Instrument 43-101 Standards of
Disclosure for Mineral Projects.
Global Minerals is a Canadian-based company with focus on the
acquisition, exploration and development of mineral property interests.
Global Minerals Ltd.
George W. Heard
President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this release.
For further information:
For further information: about Global, visit www.cgmltd.com, or contact
investor relations, Derek Sutherland, at (778) 786-1531 or email