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NEWS Underworld Resources Inc. TSX VENTURE: UW Underworld Resources Inc. Aug 07, 2009 09:30 ET Retransmission: Underworld Intersects 2.47 g/t Au over 63.0 Meters at White Gold Property VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 7, 2009) - 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. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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| aus der Diskussion: | Underworld Resources großes Potential in Canada |
| Autor (Datum des Eintrages): | geordie-is-back (07.08.09 15:35:01) |
| Beitrag: | 18 von 36 (ID:37733432) |
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