Expedition Mining Announces Drill Contract Awarded for Long Canyon Gold Project
26 Februar 2014 - 3:30PM
Marketwired
Expedition Mining Announces Drill Contract Awarded for Long Canyon
Gold Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 26, 2014) -
Expedition Mining Inc. (TSX-VENTURE:EXU) (the "Company") is pleased
to provide this update on the 2014 exploration programs within the
Walker Lane Mineral Belt.
2014 DRILL PROGRAM
Permitting for a drill program to test the surface anomalies at
Long Canyon, is underway and the contract has been awarded to
Harris Exploration Drilling Inc. A 1525 m (5,000 ft) reverse
circulation drill program consisting of 11 holes has been designed
to test a 1200 m portion of the main structural trend. The majority
of the anomalous gold and silver values on the property, and the
previously announced trenching results are located within this
structural zone.
2013 TRENCHING PROGRAM
The trenching program utilized a rubber tired backhoe to clear
the surface float and excavate into the bedrock. Generally the
undisturbed bedrock is less than 1 m below surface. Trenches were
excavated in areas of visible alteration and veining along with
zones associated with regional structures. The best results were
derived from trenches 2, 2A, 7 and 8, located in the vicinity of IP
target #2. Gold values were similar to previous sample results,
with the highest value being 1.27 g/t over 3 m in trench 2. This
sample was part of a wider zone of 6.5 m grading 0.93 g/t gold. A
sample of vein material from trench 2A contained 61.9 g/t silver
along with 0.3 g/t gold. This work confirmed that the anomalous
values are predominantly associated with the northeasterly trending
structural zones. The intersection of the main northeast zone, with
a west-northwest structure, is co-incident with an IP target
generated by the historical survey. The IP target and the
northeasterly structural zone will be the focus of the upcoming
drill program.
LONG CANYON PROPERTY
This property consists of 37 unpatented lode claims located 200
kms southeast of Reno and 16 kms southeast of the community of
Mina, Nevada. Previous exploration programs have identified an
extensive geochemically anomalous area associated with the
intersection of several structural trends. These multi-element soil
and rock anomalies are also co-incident with chargeability and
resistivity IP anomalies. The central portion of the property
exposes a silicified zone consisting of widespread chalcedony and
intensely silicified country rocks.
Structurally the Long Canyon project area is dominated by
strands of the northwest trending Walker Lane Fault Zone. Arcuate
splays from the main faults trend east-west across the property and
are exposed in many of the drainages. Regional scale northerly
trending structures are also present which extend through the Pilot
Mountains to the north, and are covered by pediment fans to the
south. The intersections of these two structural zones are believed
to be important localizing features for the mineralization
encountered at the Bellville Mine and the deposits in the Douglas
Camp to the west.
The majority of the Long Canyon property is underlain by rocks
of the Permian Mina Formation. These consist of quartz rich
sediments including sandstones and mudstones along with tuffaceous
units derived from volcanic sequences. The northern portion of the
property has been intruded by an unnamed coarse grained gabbroic
unit that forms a distinct magnetic high on the property magnetic
survey. Tertiary volcanic rocks are widespread to the north of the
property.
The structural zones trend dominantly north-northeast and
northwest, and intersect beneath the extensive siliceous zone which
occupies the central portion of the property. The north-northeast
trend is characterized by swarms of narrow quartz veins with a
general northerly orientation and subvertical dip. These veins
range from <1 cm to greater than 1 m in thickness. Veins within
the NW trending zone show a greater variation in dip attitude from
-45 to vertical, and are generally oriented sub-parallel to the
northwest trending Walker Lane belt.
The Long Canyon project is situated in southeastern Mineral
County and is flanked by several well known historical mining
districts. The Pilot Mountains to the north have a long history of
mercury production, followed by tungsten mining along the eastern
edge of the range. The former producing Belleville Mine 8 kms north
of Long Canyon reportedly produced around 100,000 ozs, until 1939,
from 2 quartz veins.
To the west the Douglas Camp area was dominantly a gold and
silver camp which also contained abundant scheelite and produced
over $1,000,000 of tungsten during and after WW1.
To the southwest the Candelaria District was known for high
grade silver deposits which averaged 60 oz/ton in the early days of
mining. By 1999 over 68 million ounces of silver had been extracted
from the mines in this district.
Expedition's disclosure of a technical or scientific nature in
this press release has been reviewed and approved by James Chapman
P.Geo, who serves as a qualified person under the definition of
National Instrument 43-101.
Expedition Mining Inc. (TSX-VENTURE:EXU) is a publicly held
Canadian exploration company focused on acquiring, exploring and
developing gold properties located in favourable geo-political
climates. The company is led by a highly skilled, experienced board
and management team with significant successes in managing early
stage mineral exploration companies. For additional information
concerning Expedition Mining Inc. or its various exploration
projects please visit Expedition's website at
www.expeditionmining.com.
CAUTION REGARDING FORWARD LOOKING STATEMENTS:
This news release contains "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities
legislation. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"can", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Expedition Mining to be materially different from those expressed
or implied by such forward-looking statements, including but not
limited to: risks related to the exploration and potential
development of any of their properties, the actual results of
current exploration activities, conclusions of economic
evaluations, changes in project parameters as plans continue to be
refined, future prices of gold. Although Expedition Mining has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. Expedition
Mining does not undertake to update any forward-looking statements
that are incorporated by reference herein, except in accordance
with applicable securities laws.
ON BEHALF OF THE BOARD:
Ronald Atlas
President & Chairman of the Board
Expedition Mining Inc.
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.
Standard & Poor's Listed
Issued Share Capital: 58,336,789
Expedition Mining Inc.William Galine(604)
662-3903bgaline@expeditionmining.comwww.expeditionmining.com
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