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Tue Mar 13, 2007 Glencairn Reports High-Grade Intercepts and Gold Zone Extension at Libertad Mine View News Release in PDF Format Glencairn Gold Corporation is pleased to announce additional results from the Santa Maria drill program and trenching from the Mojon East Extension at its Libertad Mine. New holes from the Santa Maria Vein continue to encounter high-grade gold values. Trenching on the Mojon East Extension intercepted two parallel mineralized zones approximately 400 metres east of the current mining area. SANTA MARIA Hole M15 intercepted 5.7 metres true width grading 8.3 grams gold per tonne (g/t) and 12.8 g/t silver and Hole 41 intercepted 2.8 metres true width grading 8.9 g/t gold and 13.2 g/t silver. These drill results confirm the presence of two high-grade zones along the Santa Maria Vein. Holes M12, M13 and M14 (previously disclosed February 27, 2007) are located in the western high-grade zone. The new drilling intercepted the eastern high-grade zone, with the exception of Hole 37 which encountered intervening quartz stockworks between the two high-grade zones. (see Figure 1 - Santa Maria Longitudinal Section and drill results table below). "Santa Maria is a discrete gold-quartz vein with multiple high-grade zones. What is very encouraging is the potential to extend the existing zones and to encounter additional high-grade shoots along strike," said Michael Gareau, Vice President of Exploration. Drilling is continuing at Santa Maria to better define the limits of the known high-grade zones, to explore the open extension of the eastern zone and to look for new zones further along strike both to the east and west. Uncut and cut assays for the mineralized intervals encountered in the drilling at Santa Maria are highlighted in the following table: Santa Maria Drill Results --------------------------------------------------------------------------- Core True Silver Hole # From - To Length Width Gold Grade Grade --------------------------------------------------------------------------- (g/t) (g/t) (g/t) (metres) (metres) (metres) (uncut) (cut(1)) (uncut) --------------------------------------------------------------------------- Previously released results --------------------------------------------------------------------------- M12(2) 59.9 - 63.7 3.8 3.5 24.54 19.18 25.25 --------------------------------------------------------------------------- M13(2) 51.2 - 55.6 4.4 3.1 40.22 22.96 10.78 --------------------------------------------------------------------------- M14(2) 43.4 - 49.1 5.7 4.6 27.26 27.08 43.49 --------------------------------------------------------------------------- New drill results --------------------------------------------------------------------------- M15(2) 107.4 - 115.8(3) 8.4 5.7 8.27 8.27 12.81 --------------------------------------------------------------------------- 37 51.4 - 65.7 14.3 11.0 1.62 1.62 11.61 --------------------------------------------------------------------------- 38 42.2 - 43.0 0.8 Fault Zone --------------------------------------------------------------------------- 39 44.0 - 48.6 4.6 3.4 7.89 6.49 1.22 --------------------------------------------------------------------------- 62.7 - 63.6 0.9 0.6 10.47 10.47 2.87 --------------------------------------------------------------------------- 40 84.6 - 86.1 1.5 1.2 8.66 8.66 10.67 --------------------------------------------------------------------------- 41 97.6 - 100.5 2.9 2.3 7.63 7.63 12.09 --------------------------------------------------------------------------- 108.7 - 112.6 3.9 2.8 8.86 8.86 13.28 --------------------------------------------------------------------------- (1) High sample assays capped at 40 g/t for massive quartz zones and 25 g/t for stockwork zones; the cut values were established geostatistically. (2) Holes for metallurgical test work. (3) Interval with lower core recovery (e.g. less than 85%) Figure 1: Santa Maria Longitudinal View Click to Enlarge LIBERTAD'S MOJON PIT EXTENSION Trenching on the Mojon East Extension intercepted two parallel mineralized zones approximately 400 metres east of the current mining area.(see Figure 2 - Libertad Mine Site Plan). The fact that the two parallel trenches encountered gold mineralization supports the possibility of a significant extension of the Mojon Deposit. Trench 1 encountered 4.20 metres of horizontal width grading 4.4 g/t gold and 18.3 g/t silver. Trench 2 encountered 16.8 metres of horizontal width grading 1.98 g/t gold and 6.91 g/t silver. Trenches 1 and 2 do not overlap, hence the results represent what appear to be sub-parallel zones of mineralization. Additional trenching will continue and follow-up drilling will test the depth extent of this mineralization. Mojon has been the principal mining area over the past several years. Figure 2: Libertad Plan View Click to Enlarge MESTIZA UPDATE The Mestiza Project is approximately 70 kilometres by road from the Limon Mine. The 2.4-kilometre-long, gold-bearing structure known as the Tatiana Vein is the principal target, hosting an inferred mineral resource of 689,700 tonnes grading 10.3 grams per tonne gold containing 228,000 ounces of gold. The mineral resource is open in both directions and at depth (see Glencairn Press Release dated Sept. 6, 2006). Drilling is on schedule to start during the second half of March. Drilling equipment has been procured for this program and will be moved to Mestiza. "We view Mestiza as a fast-track, low-capital project, with potential of providing high-grade feed to the Limon Mill at a target rate of an additional 20,000 to 35,000 ounces a year," said Glencairn President/CEO Peter Tagliamonte. Sampling, Assaying and Quality Control The core is logged, photographed and then sampled with half the core retained and stored on-site. Samples are taken as half of the sawn core that varies in size from HQ (63.5 mm) for metallurgical holes to NQ (47.6 mm) for the other drill holes. All core samples were prepared and assayed at either the Company's Limon Mine or its Libertad Mine laboratories. Both the Limon and Libertad mine laboratories use normal industry procedures. The entire half-core samples were crushed to pass 10-mesh-size sieve, a 1/4 split was then pulverized to have greater than 90% pass the 200-mesh-sized sieve to produce a 100 gram homogenized sub-sample. A one-assay ton aliquot (a 29.2 gram sub-sample) is used for fire assaying with a gravimetric finish to determine gold concentration. Internal quality control includes the use of blanks, duplicates and standards in every batch of samples. The Company also conducts internal check assaying. External check assays are pending and will be performed at a Canadian commercial laboratory |
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| aus der Diskussion: | GLENCAIRN GOLD - Vor der "Explosion"? |
| Autor (Datum des Eintrages): | allesaufblau (25.03.07 13:32:57) |
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