Retransmission: Underworld Intersects 2.47 g/t Au over 63.0 Meters at White Gold Property
07 August 2009 - 3:30PM
Marketwired Canada
Underworld Resources Inc. (TSX VENTURE:UW) is pleased to announce additional
results from the ongoing drill program at the White Gold Property, Yukon. To
date, Underworld has completed 12,794m of drilling over 47 holes during the 2009
exploration program. At the Golden Saddle Zone, 32 holes have been completed.
Additionally, 10 holes completed at Arc Zone, 4 holes completed at Minneapolis
Ridge, and 1 hole completed at the Donahue Zone.
Highlights of the recent assays from the Golden Saddle Zone include:
- WD09-51: 39.0 meters averaging 3.71 g/t Au
- WD09-52: 38.0 meters averaging 3.92 g/t Au
- WD09-54: 63.0 meters averaging 2.47 g/t Au
- WD09-55: 61.5 meters averaging 2.19 g/t Au
Results to-date continue to demonstrate excellent continuity of near-surface
gold mineralization at the Golden Saddle Zone. Mineralization remains open to
expansion along strike to the northeast and at depth. Infill and step-out
drilling is being completed on 50 meter intercept centers along strike and
downdip. Additionally, infill and step-out drilling is being completed on 100
meter intercept centers at the Arc Zone, located 1,000 meters south of Golden
Saddle. The objective of drilling at these two zones is to complete a NI 43-101
compliant resource estimate in Q4/2009 or Q1/2010. Additionally, new drill
targets including Minneapolis Ridge, Donahue and South Donahue are being drill
tested.
A third diamond drill rig with deeper depth capability has recently arrived on
site, and is testing the Golden Saddle Zone. It is anticipated that a total of
23,000 meters of core drilling in approximately 100 drill holes will be
completed during 2009. .A complete table of assay results from the 2009 White
Gold Drilling Program, as well as cross-sections, and drill plan maps are
available at www.underworldresources.com.
Intrusive-related gold mineralization at the Golden Saddle Zone is
preferentially hosted within metamorphosed felsic intrusive units, as well as
felsic and mafic metavolcanic rocks. Gold mineralization is associated with
quartz veins, stockwork and breccia zones, as well as pyrite veinlettes and
disseminations. The alteration assemblage includes pervasive K-spar, carbonate,
sericite and silicification. The main mineralized zone at Golden Saddle strikes
to the northeast, with a gentle to moderate dip to the northwest.
Most recent drill results include:
From To Length Au
Hole-ID (m) (m) (m) (g/t) Comments
Golden Saddle Zone
WD09-46 61.95 74.86 12.91 1.01 Infill between
and 301.00 343.45 42.45 0.97 WD08-09 & 20
Including 336.41 343.45 7.04 4.24
WD09-48 10.00 60.47 50.47 0.73 50 m step out southeast
of WD09-43
WD09-49 201.00 202.50 1.50 2.64 125m south of known
and 281.00 282.50 1.50 1.09 mineralization; new
and 306.00 307.50 1.50 2.11 parallel zone.
WD09-50 19.41 102.00 82.90 1.02 50m step out southeast
including 19.41 45.50 26.09 2.75 of WD09-43
including 26.00 45.50 19.50 3.39 Extends mineralization
south
WD09-51 193.00 222.00 39.00 3.71 50m step out northwest
including 198.00 204.00 15.80 6.00 of WD08-16
including 198.00 199.50 1.50 36.00 Extends Golden Saddle
mineralization down
dip to the north
WD09-52 223.00 261.00 38.00 3.92 50m step out northwest
including 242.00 259.50 17.50 7.51 of WD09-29
including 246.50 257.00 10.50 9.38 Extends mineralization
down dip to north
WD09-53 228.49 237.57 9.08 2.58 50m step out northwest
of WD09-51
Extends mineralization
down dip to north
WD09-54 261.5 324.47 62.97 2.47 50m step out northwest
including 297.5 324.47 26.97 5.13 of WD09-34
including 308.5 314.14 5.64 11.64 Extends Golden Saddle
zone down dip to
the north
WD09-55 308.00 368.50 61.50 2.19 50m step out northwest
including 313.50 333.95 20.45 3.98 of WD09-54
Extends mineralization
down dip to north
WD09-56 184.56 240.5 55.94 1.30 50m step out northwest
of WD09-47
Extends Golden Saddle
zone along strike to
the east
Minneapolis Creek
MC09-01 31.50 33.00 1.50 1.40 Initial hole at
Minneapolis Creek
- True Widths are estimated to be between 70% and 100% of drilled interval
In the recent drilling reported above, drill holes WD09-51 to 55 have extended
the Golden Saddle Zone further down-dip to the North. WD09-56 has extended the
zone further east on strike. WD09-48 and 49 intersected new, subparallel zones
of alteration and mineralization further south of the main Golden Saddle Zone.
Drill hole MC09-01 is the initial hole completed at the Minneapolis Creek
target, located 2,500 meters west of Golden Saddle. Anomalous, near gold
mineralization was encountered with metasedimentary rocks, similar in style to
the Arc Zone. Assays for three additional holes at Minneapolis Creek are
currently pending.
Exploration work including mechanical trenching is continuing at the White Gold
Property with the objective of refining additional drill targets during the
balance of the 2009 program.
Quality Assurance
Underworld has implemented a rigorous QA/QC program at the White Gold Property
using best industry practice. Elements of the program include: chain of custody
of samples, insertion of standard and blank samples, and check assays. Drill
core is sawn in half and shipped in sealed bags to ALS Chemex Laboratories in
Vancouver, B.C. Check assays are completed by Acme Laboratories, Vancouver.
The ongoing 2009 Exploration Program is directed by Adrian Fleming, M.A.I.G,
RPGeo, M.Aus.I.M.M., President of Underworld Resources and a Qualified Person as
defined by NI 43-101. Mr. Fleming prepared, and approves of the content of this
release.
Underworld Resources is a well-structured junior exploration company focused on
expanding its new gold discovery in the Yukon.
ON BEHALF OF THE BOARD OF DIRECTORS
Adrian Fleming, President
Forward Looking Statement
Some of the statements contained in this press release are forward-looking
statements. Forward-looking statements are not historical facts and are subject
to a number of risks and uncertainties beyond the Company's control, including,
but not exclusively, statements regarding potential mineralization, exploration
results, completion of work program and studies, and future plans and objectives
of the Company. Resource exploration, development and operations are highly
speculative, characterized by a number of significant risks, which even a
combination of careful evaluation, experience and knowledge may not eliminate,
including, among other things, unprofitable efforts resulting not only from the
failure to discover mineral resources but from finding mineral deposits which,
though present, are insufficient in quantity and quality to return a profit from
production.
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