AM Gold Expands Gold Mineralization to Extend Across 450m Width Including Jethro Structure at Red Mountain, Yukon Territory, ...
03 Oktober 2011 - 3:30PM
Marketwired
AM Gold Inc. (TSX VENTURE:AMG)(FRANKFURT:AMX) ("AM Gold" or the
"Company") is pleased to announce the second tranche of assay
results of the 2011 exploration program at Red Mountain, Yukon
Territory Canada. A new zone of mineralization reported on
September 12, 2011 has been shown to be continuous with the current
inferred resource (see the Company's news release of December 2,
2010 for the current inferred resource estimate) and extends across
a lateral distance of 450 metres, as shown on the accompanying
cross-section. The area of gold mineralization around and including
the current inferred resource estimate is now at least 800 metres
along strike and at least 450 metres across.
A total of approximately 7,850 meters of core has been cut from
23 holes drilled east, west, and north of the resource area. Assay
results of the first five holes and partial results for the sixth
were previously reported in a Press Release dated September 12,
2011. Assays results have now been received for the remainder of
ICE11045 plus the next three holes: ICE11046, ICE11047, and
partially for ICE11048. The Company will issue a further news
release on the assay results for ICE 11048 following receipt of the
assay results for such hole.
Drill Holes ICE11046, ICE11045, ICE11047, and ICE11048 were
drilled along a common section line at the western end of the
resource area, across the Jethro Structure and towards the
northeast to further test the new mineralization intersected in
ICE11043 (previously reported September 12, 2011). All holes were
drilled to the north-northeast and dips varied between minus 50
degrees to minus 55 degrees. Hole ICE11046 is the southeastern-most
hole and is located approximately 215 metres southeast of ICE10028
(results previously reported September 28, 2010). Holes ICE11045,
ICE11047, and ICE11048 are located approximately 170 metres, 300
metres, and 380 metres north-northeast of ICE11046
respectively.
To view the Red Mountain Section, please click on the following
link: http://media3.marketwire.com/docs/amgold.pdf
The four-hole section line demonstrates gold mineralization is
linked between the resource area and the new zone reported on
September 12, 2011. Gold mineralization is continuous across at
least 450 metres of lateral distance covered by the cross-section.
Assay results for Drill Holes ICE11045, ICE11046, ICE11047, and
ICE11048 are summarized in the table below:
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Hole From To Interval Length Gold
Number (m) (m) (m) (g/t)
----------------------------------------------------------------------------
ICE11045 0.0 419.4 419.4 0.38
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Including 0.0 323.5 323.5 0.42
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Including (i) 8.0 158.5 150.5 0.58
----------------------------------------------------------------------------
Including (i) 49.5 81.5 32.0 0.69
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ICE11046 0.0 342.9 342.9 0.37
----------------------------------------------------------------------------
Including 145.0 200.0 55.0 0.60
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ICE11047 0.0 350.5 350.5 0.25
----------------------------------------------------------------------------
Including 7.5 173.0 165.5 0.32
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Including 52.5 74.5 22.0 0.51
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ICE11048 0.0 121.5 121.5 0.33
----------------------------------------------------------------------------
Including 81.5 104.5 23.5 0.66
----------------------------------------------------------------------------
Including 94.5 104.5 10.0 0.94
----------------------------------------------------------------------------
And 121.5 371.1 249.6 Pending
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Note: Reported Widths Are Drilled Thicknesses. True Widths Are Not Known
----------------------------------------------------------------------------
(i) Reported September 12, 2011
----------------------------------------------------------------------------
All sample preparation and fire assaying work has been performed
by Eco Tech Laboratory Limited ("Eco Tech") in Kamloops, British
Columbia. Eco Tech is an ISO 9001:2008 accredited laboratory and
subsidiary of the Stewart Group of worldwide laboratories. Initial
fire assay with atomic adsorption finish is completed for all
samples. Those samples running greater than 1g/t Au are
automatically rerun. Those samples assaying in excess of 3g/t Au
are rerun using a gravimetric finish. In addition to the internal
laboratory controls, the Company inserts two revolving standards in
3% of the samples, inserts blanks in 4% of the samples, and a
duplicate sample is resplit every tenth sample. Results reported
herein have been checked and have undergone quality control
review.
About AM Gold Inc.
AM Gold Inc. is a publicly held resource company based in
Vancouver, Canada. The Company is listed on the TSX Venture
Exchange under the symbol "AMG" and is quoted on the Frankfurt
Exchange under the symbol "AMX". The Company is focused on creating
shareholder value through the development of the Company's gold and
gold-copper projects in the Yukon and Peru while building a
portfolio of quality pipeline projects in North and South America.
The Company's Red Mountain gold property is located in central
Yukon Territory approximately 55 kilometres northwest of the
community of Mayo in the Tintina Gold Belt. The Company's Red
Mountain gold property consists of approximately 3,600 hectares of
contiguous quartz claims. 52 of such quartz claims (1,168 hectares)
are held 80% by the Company with an option to acquire 100%
ownership and are subject to a net smelter returns royalty and 131
quartz claims (2,430 hectares) are held 100% by the Company. AM
Gold's Pinaya gold-copper project is located approximately 775
kilometres southeast of the city of Lima, Peru in the Tintaya Gold
Belt. The Company maintains 100% ownership of 35 mining concessions
covering the 19,200 hectare Pinaya land position. AM Gold's
corporate offices are located Suite 605 - 369 Terminal Avenue,
Vancouver, British Columbia, V6A 4C4 (phone: 604-646-0067).
Brian L. Cole, P. Geo., has reviewed the technical disclosure
contained in this news release and is a Qualified Person and is
independent of the Company within the meaning of National
Instrument 43-101 - Standards of Disclosure for Mineral
Projects.
ON BEHALF OF AM GOLD INC.:
John Fiorino, CEO
AM GOLD INC.
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press release are
forward-looking statements and information within the meaning of
applicable securities laws. Forward-looking statements and
information can be identified by the use of words such as
"expects", "intends", "is expected", "potential", "suggests" or
variations of such words or phrases, or statements that certain
actions, events or results "may", "could", "should", "would",
"might" or "will" be taken, occur or be achieved. Forward-looking
statements and information are not historical facts and are subject
to a number of risks and uncertainties beyond AM Gold's control.
Actual results and developments are likely to differ, and may
differ materially, from those expressed or implied by the
forward-looking statements contained in this news release.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to
update publicly or otherwise revise any forward-looking statements,
except as may be required by law.
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.
Contacts: AM Gold Inc. Murray Caruth
1-604-646-0067mcaruth@amgold.cahttp://www.amgold.ca
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