Great Northern Gold Exploration Corporation Updates January 2013 Drilling Program

TSXV: GGE

VANCOUVER, Dec. 11, 2012 /CNW/ - Great Northern Gold Exploration Corporation, ("Great Northern Gold" or the "Company") announced that it has completed its infill mobile metal ion ("MMI") geochemistry sampling program.  The infill MMI samples will be used, along with previously collected data and ground proofing, to refine the targets for the Company's January 2013 drilling program. (See press release dated November 8, 2012.)

During the month of November, 468 infill MMI geochemistry samples were taken on anomalies and extensions along strike of the earlier detected anomalous trends on the McCafferty Grid. A total of 1,613 MMI samples have now been taken on the McCafferty Grid. The 468 new samples have been sent to SGS laboratories in Toronto for analysis. It is expected that these results will be available in late December and will be plotted and reviewed in final preparation for the January drill program.  After the results from the November program are recorded the Company will have data from 2,279 MMI geochemical samples on three grids.

During November the Company provided details of the drill program to seven drill contractors interested in bidding on the project. Management will be reviewing the details of these bids over the next two weeks and award the contract accordingly.

The drilling program of approximately 2,000 meters is expected to comprise 20 to 30 drill holes. Approximately two drill holes are planned to test gold targets on the one kilometer by 400 meter (1km x 0.4km) Elizabeth - Dauphin Grid, located approximately 2 kilometers northeast of the past producing Rex-Laguna gold mine. The remainder of the drill program will test numerous gold targets on the one kilometer by three kilometer (1km x 3km) McCafferty Grid. The McCafferty gold-bearing quartz vein is exposed on the grid in a series of trenches and two shafts over a strike length of 350 meters. To date, the MMI data was successful in locating the McCafferty vein, identifying a number of new gold anomalies trending parallel or sub-parallel to the McCafferty vein, and a number of additional multi-line, multi-element anomalies. All drill targets are selected based on multidisciplinary techniques including geological mapping, MMI geochemistry, and data from previous work including ground and airborne EM geophysics.

The Company's drill program is targeting the potential for larger tonnage epigenetic mesothermal gold deposits located in shear zones below the glacial till cover. The winter program allows for lower drilling costs as equipment and supplies can be transported across the frozen Wekusko Lake to the Wekusko Gold Property, instead of being mobilized by helicopter to the site.

"Our team did a great job completing the field work to collect the data required to refine our drill targets," said Mr. Kim Oishi, President and CEO of Great Northern Gold.  "We are on track to commence our 2,000 meter drill program in January 2013 lead by Dan Ziehlke, our VP Exploration, who has more than 25 years experience in the region, including the identification of economic gold mineralization at Snow Lake and numerous gold zones on the Wekusko Gold Property."

As set out in the Company's NI 43-101 Technical Report dated May 12, 2012 and filed on SEDAR, the Wekusko Gold Property hosts historic and recent discoveries of moderate to high grade gold mineralization in near surface quartz veins.  Prospecting and geochemical work north of the high grade Ferro and Rex Laguna trending belts indicate potential for Snow Lake/Britannia type of larger tonnage, lower grade gold deposits.  To date, the New Britannia deposit at Snow Lake has produced 1,428,290 ounces of gold recovered from 12,124,449 tons milled for a recovery grade of 0.117 oz/ton.

Daniel Ziehlke, VP of Exploration for Great Northern Gold, is the Company's Qualified Person under the definition of NI 43-101, and has reviewed this press release for accuracy and compliance with NI 43-101. Information relating to adjacent properties has not been verified by Great Northern Gold and is not necessarily indicative of the mineralization on the Wekusko Gold Property. The Wekusko Gold Property is an early-stage mineral property and does not contain a resource defined by NI 43-101.

About Mobile Metal Ion (MMI™) Geochemistry
MMI geochemistry technology is owned by SGS (www.sgs.com/geochem), a leading inspection, verification, testing and certification company.  According to SGS, Mobile Metal Ion (MMI™) geochemistry is a proven advanced geochemical exploration technique known to find mineral deposits. It is especially well suited for deeply buried mineral deposits. MMI measures metal ions that travel upward from mineralization to unconsolidated surface materials such soil, till, sand and so on. These mobile metal ions are released from mineralized material and travel upward toward the surface. Using careful soil sampling strategies, sophisticated chemical ligands and ultra sensitive instrumentation, SGS is able to measure these ions.  After interpretation, MMI data can indicate anomalous areas. Please see the SGS website www.sgs.com/geochem for more details and case studies.

About Great Northern Gold Exploration Corporation
Great Northern Gold is a gold exploration company operating in Northern Canada and has an option to earn a 100% undivided interest in the property known as the Wekusko Property located 23 kilometers southeast of Snow Lake, Manitoba and comprising 55 mineral claims totaling approximately 8,880 hectares. Great Northern Gold has also entered into a Property Option Agreement to earn a 100% undivided interest in the property known as the Ferro Mine Property located 23 kilometers southeast of Snow Lake, Manitoba and east of Wekusko Lake, Manitoba.

Capitalization:
Number of common shares outstanding:  20,220,867
Number of fully diluted shares outstanding:  24,507,533

STATEMENTS IN THIS PRESS RELEASE REGARDING THE COMPANY'S BUSINESS WHICH ARE NOT HISTORICAL FACTS ARE "FORWARD-LOOKING STATEMENTS" THAT INVOLVE RISKS AND UNCERTAINTIES, SUCH AS ESTIMATES AND STATEMENTS THAT DESCRIBE THE COMPANY'S FUTURE PLANS, OBJECTIVES OR GOALS, INCLUDING WORDS TO THE EFFECT THAT THE COMPANY OR MANAGEMENT EXPECTS A STATED CONDITION OR RESULT TO OCCUR. SINCE FORWARD-LOOKING STATEMENTS ADDRESS FUTURE EVENTS AND CONDITIONS, BY THEIR VERY NATURE, THEY INVOLVE INHERENT RISKS AND UNCERTAINTIES. ACTUAL RESULTS IN EACH CASE COULD DIFFER MATERIALLY FROM THOSE CURRENTLY ANTICIPATED IN SUCH STATEMENTS. THE COMPANY DOES NOT ASSUME ANY OBLIGATION TO UPDATE OR REVISE EVENTS OR CIRCUMSTANCES UNLESS REQUIRED BY APPLICABLE SECURITIES LAWS.

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: Great Northern Gold Exploration Corporation

For further information:

please contact:
Kim Oishi, CEO
Great Northern Gold Exploration Corporation
T: (604) 683-8393
Email: koishi@greatnortherngold.com

Profil de l'entreprise

Great Northern Gold Exploration Corporation

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.