Granite Creek Options Additional Malian Gold Concession
20 Mai 2014 - 3:30PM
Marketwired
Granite Creek Options Additional Malian Gold Concession
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2014) -
Granite Creek Gold Ltd. (TSX-VENTURE:GCX) (the "Company") is
pleased to announce the acquisition of a new gold concession, the
16 sq km Bourdala Sud Ouest Concession (the "Concession), located
in Mali, West Africa. The Concession is located 45 Km SW of the
Sadiola Gold mine, owned by AngloGold and Iamgold, and 46 km north
of Rangold's Loulo mine. Granite Creek has been granted the option
to acquire a 100% interest in the concession by making staged
payments totalling approximately $120,000 over a five year period.
There is also a 1% net smelter royalty on any production from the
Concession.
Drilling on the Concession by previous operators intersected
10.0 meters of 3.92 g/t gold and 8.0 meters of 8.63 g/t gold in
Drill Hole 6CL. Eight additional holes were drilled along a
northwesterly trend and 5 intersected mineralization. (See historic
drilling map available on the Company's website
www.granitecreekgold.com/n/index.php/projects/BSW)
Interpretation of existing airborne magnetic data combined with
information recently gathered by the Company's Malian geologist and
board member, Mamadou Keita, has yielded possible insights into the
trend of mineralization in the Concession.
Interpretation of the airborne magnetic map of the area
indicates a major northeasterly lineament through the Concession
with 3 northwesterly offshoots. Mapping of recent orpaillage (areas
of pits hand-dug by local miners or orpailleurs in the search for
gold) by Mr. Keita displays a northwest-southeast trend and covers
an area of up to 300 metres wide by over 1,000 metres long. This
area coincides with one of the northwest-southeast magnetic
offshoots. The Company's initial work on the Concession will
consist of sampling and mapping areas around the areas of
orpaillage.
In other matters, the program of geological mapping, soil and
rock sampling on the Darsalam Project announced on Apr. 17, 2014 is
progressing well with crews active on the project. Field work will
likely wrap up in the next two weeks and with collected samples
submitted for assay.
The Company also wants to announce that as a part of its
increased focus on gold projects in West Africa it is seeking joint
venture partners for all its BC projects. More information can be
found about these projects on the Company's website.
Dr. Mathias Westphal, P.Geo, a Qualified Person as defined in
National Instrument 43-101 has reviewed and approved the technical
information in this news release.
About Granite Creek Gold
Granite Creek is a Vancouver based exploration company in the
business of acquiring and carrying out exploration on mineral
properties, especially those with precious metals potential, with
the goal of establishing a mineable mineral resource. Granite
Creek's Malian projects consist of the 75 sq km Darsalam gold
concession on which it has an option to acquire a 100% interest in;
and the newly acquired 16 sq km Bourdala Sud Ouest gold concession
on which it also has an option to acquire a 100% interest. The
Company also has projects in British Columbia consisting of the
gold/copper/molybdenum Taseko Property, 225 km north of Vancouver,
BC, on which it has an option to acquire a 70% interest; the 100%
owned 654 ha Railway Property, a copper project in the highly
prospective Stikine arch area of northwestern BC; and the 5611 ha
Troitsa Property, a copper/molybdenum/gold/silver property located
in central BC, on which it has an option to acquire a 100%
interest.
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release, including, without limitation,
statements relating to regulatory approvals, exploration programs,
and other future plans, objectives or expectations of the Company
are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's plans or expectations include the
Company's ability to obtain regulatory approval and to complete its
exploration programs on schedule and other risks detailed herein
and from time to time in the filings made by the Company with
securities regulators. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
legislation.
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.
Timothy Johnson,
President604-569-2430info@granitecreekgold.comwww.granitecreekgold.com
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