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Golden Valley Mines Ltd.: Significant Gold Mineralization Intersected on the Perestroika Prospect VAL-D'OR, QUEBEC, Aug 11, 2010 (MARKETWIRE via COMTEX News Network) -- Golden Valley Mines Ltd. ("Golden Valley" or the "Company") (TSX VENTURE: GZZ) is pleased to provide the following report on its exploration activities at the Company's Abitibi Greenstone Belt (AGB) "Grassroots Exploration Project" (the "Project"). A two (2) hole, 495-metre diamond drill program was completed on the Perestroika Prospect located in Courville Township (the "Program"), located 40 kilometres northeast of Val-d'Or, Quebec. See Quebec & Ontario Prospects Location Map: Gold Target #65. This program tested the depth and lateral extension of the historical gold mineralization of the "Glasnost Showing", within the regional Uniake Deformation Corridor that passes through the property in a northwest to southeast direction. The drillholes intersected multiple zones of significant high-grade gold mineralization within this trend. Based on the on-going compilation being carried out on the property, this gold mineralized trend remains open along strike for approximately 700 metres and remains open at depth. Assay results are summarized in the table below and on the drillhole compilation maps attached at the end of this press release: Perestroika Prospect: Table of Significant Drillhole Intersections ----------------------------------------------------------------------- ---- ------------------------------------------------------------------ --------- Hole No. Section Dip/Az From (m) To (m)Length (m) Au g/t -45 degrees /180 GPS09-01 8+00W degrees 37.70 38.65 0.95 0.96 And 74.75 76.00 1.25 1.58 And 81.55 82.25 0.70 0.95 And 85.35 85.75 0.40 4.01 And 174.55 174.90 0.35 0.67 And 188.30 188.70 0.40 0.65 And 231.55 232.00 0.45 6.98 And 244.70 245.70 1.00 3.19 And 256.90 258.45 1.55 2.24 And 261.65 262.80 1.15 59.52 Including 262.00 262.3 0.30 217(i) And 263.80 265.1 1.30 3.26 Including 263.80 264.42 0.62 6.56 And 267.16 268.60 1.44 1.01 Including 267.16 267.92 0.76 1.6 And 291.53 292.75 1.22 0.62 Including 292.45 292.75 0.30 1.94 And 305.48 306.45 0.97 4.36 -45 degrees /180 GPS09-02 8+00W degrees 72.45 74.85 2.40 3.48 And 77.85 79.15 1.30 4.09 Including 78.75 79.15 0.40 9.94(i) And 85.90 87.50 1.60 6.89 And 108.13 109.25 1.12 1.52 And 120.25 123.00 2.75 3.71(i) Including 121.25 123.00 1.75 5.66 And 140.40 143.90 3.50 18.08(i) Including 140.40 143.45 3.05 20.69 And 157.35 158.05 0.70 1.85 --------------------------------------------------------------------------- --------------------------------------------------------------------------- Gold grades (g/t) are uncut and the intervals are over core lengths. (i) Occurrence (s) of Visible Gold Observed - Au Screen Metallic Fire Assay Completed Gold mineralization is hosted in variable sheared, mylontized and altered sequences of metavolcanic mafic rocks intruded by a series of quartz-diorite intusions. High-grade mineralization is hosted in late quartz-carbonate veins that contain visible gold. The Program objective was to test for the depth extension of the mineralization within the Uniake Deformation Corridor, as well as to test for the southeast strike extension of the "Glasnost Showing", on section 800W (see attached figure for details). Also, special consideration was given to detailed logging and sampling with the intention of establishing a better control of the system of mineralization related to lithological units (i.e. felsic porphyritic rocks), shearing, alteration (i.e. hematite, fuchsite, etc.) assemblages, sulphide types and percentages (i.e. pyrite, chalcopyrite, gold), and quartz-carbonate veining (i.e. orientation, morphology, timing). Often the complex, erratic, and localized nature of gold is a common feature of many vein-style gold deposits. This style of mineralization is often referred to as being "nuggety" or possessing a high-nugget effect. Accordingly, diamond drilling in this Program utilized large diameter coring technologies (see the September 29, 2009 press release for additional Project details). The Perestroika Prospect is one of the nine properties which make up the group of properties forming a joint venture with Kalahari Resources Ltd. (KLA-TSX/V) of which the Company is the operator and in which the Company holds a 70% interest. ... |
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| aus der Diskussion: | Golden Valley Mine: Uran, Gold und Platin |
| Autor (Datum des Eintrages): | praesens (11.08.10 15:37:42) |
| Beitrag: | 50 von 53 (ID:39966846) |
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