Equipment mobilized & activated for immediate start
VANCOUVER, Sept. 28, 2011 /CNW/ - Jet Gold Corp. (TSX-V: JAU) today announced the commencement of drilling on their Big Hammer gold
property near Terrace, BC. The company has retained Orofino Drilling
Ltd. to manage a drilling program of up to 3500m and drilling equipment
is now being moved on-site. Donald G. Strachan (M.Sc, CPG, QP),
JetGold's Consulting Geologist, will oversee and direct the program.
Recent positive assay results (see September 20, 2011 release) on Big Hammer's best exposed 380 vein have triggered the drilling
program. The number of assays with gold values above 10 grams per tonne
- some as high as 93 grams per tonne - indicated grades of gold that
warranted further and immediate drilling and exploration.
The 380 vein, which produced the high grade values, is a low-angle
quartz sulfide-telluride vein that ranges up to approximately 1.5
meters in thickness with up to 2.0 meters of mid and low-grade. The
drilling program will focus on the strike and dip of this vein, as well
as probable shoots along this vein, to determine the extent of economic
Drilling Program Summary
The best grade mineralization now in sight in both the high-graded and
representative channeled roadcrop and trenchcrop samples, if continued
at underground along strike and dip, is suggestive of
underground-mineable grades. The Phase One drilling pattern is
designed to infer this mineralization to depth and along strike to
develop tonnage. Phase One will consist of a series of closely spaced,
shallow development grid drill holes at 20-meter spacings followed by a
series of wider-spaced exploration/development holes at wider spacings.
The low-angle, dilational thickness and continuity of these multiple,
well-mineralized veins are the subject of the Phase One drill holes.
The geologic character of these veins implies continuity and
multiplicity between whatever structural and lithologic controls are
present at Big Hammer. In essence, we have shown that
gold-silver-tellurium mineralization is intense along the exposed
portions of these structures.
The 380 vein is only one of several low-angle veins seen in the few
roadcuts made so far on this large property. The other roadcrops
higher up the mountain (at 615 and 630 elevation) are also mineralized
with gold, silver and tellurium, and represent additional exploration
targets. Trenching will be conducted on these higher elevation veins to
further expand and provide new drill targets.
JetGold's disclosures of a technical or scientific nature in this news
release have been reviewed and approved by Donald G. Strachan (M.Sc,
CPG), JetGold's Consulting Geologist, who serves as a Qualified Person
under the definition of National Instrument 43-101.
JetGold is a Canadian resource exploration company actively developing gold,
silver, copper, zinc, molybdenum and tellurium mineral resource
properties in British Columbia, Canada. The company is currently
undertaking exploration of two precious metal properties [Big Hammer
and Silver Bay] and one base metal property [Kshish].
Gold/Silver/Tellurium (Au/Ag/Te) property located 13 km southeast of Terrace
Silver/Zinc (Ag/Zn) property located in west central BC
Copper/Molybdenum (Mo/Cu) property located 15 km northeast of Terrace
JetGold is strategically investing in the Terrace and Smithers mining
districts of British Columbia based on excellent road access, abundant
power and water supply and close proximity to CN Rail lines and the
Fairview Terminal deep water container port in Prince Rupert. The port
is an important part of the Government of Canada's "Asia-Pacific Gateway & Corridor Initiative" and the Province of British Columbia's "Pacific Gateway" strategy.
Additional information at: www.jetgoldcorp.com
On behalf of the Board of Directors,
Jet Gold Corp. (TSX.V: JAU)
"Brad J. Moynes"
Brad J. Moynes
President & CEO
Forward Looking Information: 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.
Statements containing forward-looking information express, as at the
date of this news release, the Company's plans, estimates, forecasts,
projections, expectations or beliefs as to future events or results and
are believed to be reasonable based on information currently available
to the Company.
Forward-looking statements and information are based on assumptions that
financing and personnel will be available when required and on
reasonable terms, and all necessary regulatory approvals and
shareholder approval will be obtained, none of which are assured and
are subject to a number of other risks and uncertainties
There can be no assurance that forward-looking statements will prove to
be accurate. Actual results and future events could differ materially
from those anticipated in such statements. Readers should not place
undue reliance on forward-looking information.
SOURCE Jet Gold Corp.
For further information:
For corporate information, contact:
Brad Moynes at 604-601-2070 or firstname.lastname@example.org
For investor relations, contact:
Gus Garisto at 416-805-3106
885 West Georgia Street, Suite 1500, Vancouver, BC V6C-3E8
T: 604-601-2070 F: 604-683-8125