Upper Canada Gold Corporation announces initial drill results from the
Dingman property 2010 drilling
TORONTO, May 18 /CNW/ - Upper Canada Gold Corporation (the "Company") (TSXV: UCC) announces initial drill hole results from the drill program that commenced in early March 2010 on the Company's 100% owned Dingman property situated in southeastern Ontario.
The following drill hole results for the first 3 of a minimum 20 hole drill program at the Dingman property, located near Marmora, Ontario are as follows:
Assay Results Received For Upper Canada Gold 2010 Drilling - Dingman Project ------------------------------------------------------------------------- Hole ID Section From (m) To (m) Length (m) Au (g/t) ------------------------------------------------------------------------- DH-10-01A L0, 227N 195.0 199.0 4.0 0.8 224.0 237.0 13.0 1.1 243.0 245.0 2.0 1.1 249.0 265.0 16.0 1.2 ------------------------------------------------------------------------- DH-10-01B L0, 227N 190.5 194.7 4.2 0.7 216.5 231.7 15.2 1.1 234.1 239.5 5.4 1.3 240.5 252.0 11.5 0.7 255.1 260.0 4.9 0.9 ------------------------------------------------------------------------- DH-10-01C L0, 227N 174.0 177.0 3.0 1.2 221.5 225.5 4.0 1.3 228.5 230.5 2.0 2.0 238.5 260.9 22.4 0.9 275.6 277.0 1.4 0.7 -------------------------------------------------------------------------
The true widths of these mineralized zones are approximately 70% of the above Dingman drill intercept widths.
The above holes were drilled on section between DI-07-09 and DI-09-14, which was previously drilled by Opawica Explorations Inc. ((2)OPW(2)), to extend the continuity of the mineralization between the OPW holes. The drill pattern was designed to have pierce points 25-30m apart within the plane of the mineralization.
The drill program is focused on extending the mineralization beneath the current resource base from approximately 200 m to 300 m below surface. As described further in the Company's technical report on the Dingman Property dated September 15, 2009, the indicated resource estimate for the Dingman Property includes a total of 8,801,000 tonnes at 0.97 g/t Au comprising 270,000 of Au. The inferred resource estimate is a total of 11,301,000 tonnes at 0.98 g/t Au comprising 355,000 oz Au. These resources are based on a 0.40 g/t Au cut-off grade and an Au capping strategy of 30 g/t. (See the Company's NI-43-101 technical report dated September 15, 2009 filed on SEDAR).
Approximately 6,700 m of drilling is planned under the current drill program of which approximately 4,700 m has been completed. Assays are pending for 13 drill holes.
The drilling rate exceeded expectations and, in order to have timely sample results, the drill program was put on a three week to one month hiatus. The drill rig remains on the property. This time period will permit the addition of another diamond saw, for a total of three, and allow the sampling to catch up to the drilled holes.
Gold mineralization of the Dingman granitic stock is typical of the significant hydrothermal quartz-carbonate vein deposits hosted by granitoid rocks in Archean and early Proterozoic rocks in Canada. These rocks are usually found substantially further north of the Dingman property and which are associated with some of the prominent gold districts of northern Ontario and Quebec.
Alteration, quartz veining and gold mineralization on the Dingman property appear to have been strongly controlled by structures within the Dingman granite. Wall rock hydrothermal alteration consists of large zones of alkali metasomatism primarily in the form of sericite and sulphidation, primarily pyrite, with lesser amounts of chalcopyrite, galena and sphalerite. The complex style of quartz veining at the Dingman property is typical of the network of veins and related host structures characteristic of many Archean vein deposits.
Fire assaying for the Dingman property was completed by AGAT Laboratories of Mississauga, Ontario.
Mr. Robert Laakso, P.Eng., is the Independent Qualified Person of the Dingman property and he has reviewed the contents of this release.
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.
Cautionary Note Regarding Forward Looking Statements:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization, resources and expansion of resources, recoveries, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with mine permitting, metallurgy, development, construction and mining operations, the uncertainty of the determination of mineable ounces of gold and copper in pounds or other minerals in pounds, or the future profitability of the Company's projects.
For further information: Michael Churchill, Tel: (416) 678-0928, Website: www.uppercanadagold.com
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