Moss Lake Gold Mines Ltd. - Drilling confirms Moss Lake potential



    TORONTO, Oct. 3 /CNW/ - Moss Lake Gold Mines Ltd. ("Moss Lake") is
pleased to announce final results of its 2008 drilling program on the Moss
Lake gold deposit located in the Shebandowan greenstone belt 100 kilometres
west of Thunder Bay, Ontario.

    
    The purpose of the program was twofold:

    1)  To validate extensive historic drilling information on the
        recommendation of independent consultants; and

    2)  To expand interpreted resource limits in areas of sparse information
    

    The Moss Lake deposit is comprised of the closely-spaced Main and QES
zones which dip vertically over a known strikelength of 8,500 feet. The
project history, geology and a resource estimate are discussed in detail in a
43-101 Technical Report prepared by independent, international consulting firm
Watts, Griffis and McOuat Limited (WGM) dated November 27, 2006 and available
at www.sedar.com or on our website at www.mosslakegold.com.
    Drill hole locations and significant assay intervals are compiled in the
following tables. Results of holes ML-08-05 through ML-08-08 were previously
released on July 23, 2008 and are included here to provide complete results of
the drilling program.

    
    2008 DRILL HOLE LOCATIONS
    -------------------------------------------------------------------------
    Hole No.    Easting   Northing   Azimuth     Dip     Depth      Remarks
                 (UTM)     (UTM)    (Degrees) (Degrees)  (Feet)
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-01     668827    5379160     156       -45       239   - Abandoned
    -------------------------------------------------------------------------
    ML-08-02     668877    5379067     335       -60       707   - Main zone
    -------------------------------------------------------------------------
    ML-08-03     668740    5379139     156       -45       801   - Main zone
    -------------------------------------------------------------------------
    ML-08-04     668828    5379168     154       -50       407   - Abandoned
    -------------------------------------------------------------------------
    ML-08-05     669866    5379375     336       -50       435    - QES zone
    -------------------------------------------------------------------------
    ML-08-06     669866    5379375     336       -72       857    - QES zone
    -------------------------------------------------------------------------
    ML-08-07     669967    5379373     336       -45       755    - QES zone
    -------------------------------------------------------------------------
    ML-08-08     669967    5379373     336       -70      1187    - QES zone
    -------------------------------------------------------------------------
    ML-08-09     670032    5379440     336       -55       956    - QES zone
    -------------------------------------------------------------------------
    ML-08-10     669798    5379257     336       -50      1205    - QES zone
    -------------------------------------------------------------------------
    ML-08-11     670239    5379462     334       -50      1203    - QES zone
    -------------------------------------------------------------------------
    ML-08-12     668828    5379088     154       -50      1300   - Main zone
    -------------------------------------------------------------------------
    ML-08-13     668807    5379088     156       -70       967   - Main zone
    -------------------------------------------------------------------------
    ML-08-14     668926    5379145     156       -55       757   - Main zone
    -------------------------------------------------------------------------
    ML-08-15     668926    5379145     156       -65       947   - Main zone
    -------------------------------------------------------------------------


    2008 DRILLING - SIGNIFICANT INTERSECTIONS
    -------------------------------------------------------------------------
                                              Metric Equivalents

                               Core-   Assay    Core-
    Hole No.    From    To    length    (*)    length    Assay      Remarks
                (ft)   (ft)    (ft)   (oz/ton)   (m)  (gAu/tonne)
    -------------------------------------------------------------------------
    ML-08-01                                                     - Abandoned
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-02    117.0  167.0   50.0    0.049    15.2     1.69    - Main zone
    -------------------------------------------------------------------------
                267.0  319.0   52.0    0.080    15.8     2.73
    -------------------------------------------------------------------------
                432.0  465.0   33.0    0.033    10.1     1.13
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-03    440.3  792.0  301.7    0.031    92.0     1.05    - Main zone
    -------------------------------------------------------------------------
          inc.  490.3  567.7   77.4    0.046    23.6     1.58
    -------------------------------------------------------------------------
          and   626.5  757.2  130.7    0.038    39.8     1.31
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-04                                                     - Abandoned
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-05    261.5  430.0  168.5    0.041    51.4     1.41     - QES zone
    -------------------------------------------------------------------------
          inc.  261.5  352.0   90.5    0.048    27.6     1.65
    -------------------------------------------------------------------------
          and   387.0  425.9   38.9    0.049    11.9     1.68
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-06    522.0  757.0  235.0    0.030    71.6     1.05     - QES zone
    -------------------------------------------------------------------------
          inc.  688.0  757.0   69.0    0.060    21.0     2.06
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-07    450.0  739.0  289.0    0.034    88.1     1.17     - QES zone
    -------------------------------------------------------------------------
          inc.  580.0  640.0   60.0    0.106    18.3     3.64
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-08    887.0 1115.0  228.0    0.029    69.5     1.00     - QES zone
    -------------------------------------------------------------------------
          inc.  892.0  737.0   45.0    0.080    13.7     2.73
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-09    392.0  777.0  385.0    0.029   117.4     1.00     - QES zone
    -------------------------------------------------------------------------
          inc.  492.0  619.0  127.0    0.048    38.7     1.64
    -------------------------------------------------------------------------
          and   699.0  777.0   78.0    0.037    23.8     1.27
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-10    589.0  807.0  218.0    0.031    66.5     1.07     - QES zone
    -------------------------------------------------------------------------
          inc.  614.0  677.0   63.0    0.093    19.2     3.20
    -------------------------------------------------------------------------
          and   747.0  797.0   50.0    0.034    15.2     1.17
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-11    949.0 1104.0  155.0    0.023    47.3     0.78     - QES zone
    -------------------------------------------------------------------------
          inc. 1064.0 1104.0   40.0    0.048    12.2     1.65
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-12     80.0  135.0   55.0    0.031    16.8     1.06    - Main zone
    -------------------------------------------------------------------------
                421.0  465.0   44.0    0.037    13.4     1.28
    -------------------------------------------------------------------------
                691.0  901.0  210.0    0.024    64.0     0.82
    -------------------------------------------------------------------------
          inc.  851.0  901.0   50.0    0.052    15.2     1.78
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-13     87.0  142.0   55.0    0.030    16.8     1.03    - Main zone
    -------------------------------------------------------------------------
                528.5  552.0   23.5    0.032     7.2     1.08
    -------------------------------------------------------------------------
                622.8  759.0  136.2    0.033    41.5     1.13
    -------------------------------------------------------------------------
          inc.  622.8  667.0   44.2    0.069    13.5     2.37
    -------------------------------------------------------------------------
                937.0  962.0   25.0    0.035     7.6     1.19
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-14     44.4  222.0  177.6    0.035    54.1     1.20    - Main zone
    -------------------------------------------------------------------------
          inc.  130.0  222.0   92.0    0.053    28.0     1.82
    -------------------------------------------------------------------------
                512.0  572.0   60.0    0.034    18.3     1.16
    -------------------------------------------------------------------------
                642.9  657.0   14.1    0.041     4.3     1.40
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ML-08-15     40.0  322.0  282.0    0.042    86.0     1.45    - Main zone
    -------------------------------------------------------------------------
          inc.  255.0  322.0   67.0    0.095    20.4     3.26
    -------------------------------------------------------------------------
                902.0  932.0   30.0    0.030     9.1     1.03
    -------------------------------------------------------------------------
    (*) Results are weighted averages compiled employing a 0.015 oz/ton or
        0.5 gAu/tonne cut-off grade
    

    Gold grades are remarkably evenly distributed with all individual assays
less than 20 gAu/tonne. This broad, even distribution of gold is reminiscent
of porphyry-type deposits. Significant lower grade envelopes surround the
intervals compiled above at a cut-off grade of 0.5 gAu/tonne. This is most
prevalent in the Main zone as illustrated by hole ML-08-12 which averaged
0.016 oz/ton over 892 feet (0.56 gAu/tonne over 272.0 metres) and hole
ML-08-13 which averaged 0.014 oz/ton over 952.4 feet (0.50 gAu/tonne over
290.4 metres).
    Gold mineralization is vertically dipping and hosted by a diorite sill
marginal to the Moss Lake syenite stock. It occurs as disseminated and
fracture-filling pyrite mineralization associated with sericite alteration.
Previous metallurgical and petrographic work indicates the gold is free
milling and occurs along pyrite and silicate mineral grain boundaries.
    Management believes results of this program validate historic results and
provide encouragement that the resource has potential to grow. The ultimate
limits of the resource are very sensitive to future gold price assumptions and
metallurgical recoveries of lower grade material.
    Results of this program will be used to refine the existing resource
model and advance preliminary economic assessment work completed to date.
    The Moss Lake deposit was most recently estimated to contain the
following 43-101 compliant resource estimate by consulting geologists WGM.

    
    MOSS LAKE INFERRED MINERAL RE

SOURCE WGM, November 27, 2006 Zone Cut-off Tons Grade Contained Grade (oz/ton) Ounces Main zone 0.001 27,362,000 0.024 663,000 0.015 16,290,000 0.035 570,000 QES zone 0.001 28,752,000 0.030 852,000 0.015 22,678,000 0.035 794,000 ------------------------------------------------------------ Total: 0.001 56,114,000 0.027 1,515,000 0.015 38,968,000 0.035 1,364,000 Assaying was performed by Accurassay Laboratories of Thunder Bay, Ontario, employing fire assay methods on split drill core samples. Field work was managed by Clark Exploration Consulting of Thunder Bay, Ontario. Drilling sites were selected by WGM, Toronto, Ontario. Calculation of weighted averages and review of Lab duplicates, blind standards, blanks and field duplicates were performed by G. Mannard, P.Geo. and President, Moss Lake Gold Mines Ltd. The information provided is determined to be reliable. Moss Lake Gold Mines Ltd. trades on the TSX Venture Exchange under the symbol "MOK" and has 45.0 million shares issued and outstanding. The TSX-V has neither approved nor disapproved of information in this release

For further information:

For further information: please visit www.mosslakegold.com or contact:
George Mannard, P.Geo, President, or Donovan Pollitt, P.Eng., VP Corporate
Development, 8 King St. East, Suite 1305, Toronto, ON, M5C 1B5, Toll Free:
1-866-4-WDO-TSX, Phone: (416) 360-3743, Fax: (416) 360-7620, Email:
info@mosslakegold.com, Website: www.mosslakegold.com

Organization Profile

Moss Lake Gold Mines Ltd.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890