Hier mal die letzte Explorationsmeldung (siehe hompage oder http://ca.finance.yahoo.com/news/golden-dory-resources-corp-…)GANDER, NEWFOUNDLAND - March 1, 2012 -
Golden Dory Resources Corp. ("Golden Dory" or the "Company") is pleased to provide the following exploration update on its Newfoundland and Nevada projects. Exploration programs completed during Q4 2011 include reverse circulation drilling programs on the Pequop South and Reef gold properties in Nevada; diamond drilling program at the Huxter Lane - Brady gold property in Newfoundland; and, diamond drilling at the company's Burin properties, currently under option to Newfoundland Fluorspar Exploration Ltd.
Huxter Lane - Brady Gold Project, Newfoundland
A revised NI 43-101 resource estimate is in progress and will include the results of diamond drilling programs completed on both the Mosquito Hill and Reid Porphyry deposits in 2011. A combined total of 4,041.96 metres of NQ drilling was completed and include highlights of 36.06 metres grading 1.15 grams per tonne gold (g/t Au) and 25.45 metres grading 1.48 g/t Au respectively from holes BO-11-24 and BO-11-25 at the Reid Porphyry.
Currently, NI 43-101 resources at Mosquito Hill (prepared by Giroux Consultants), stand at 11.18 million tonnes averaging 0.546 g/t Au (grams per tonne gold) for 196,257 ounces gold (indicated), and an inferred resource of 38.76 million tonnes averaging 0.457g/t Au for 569,496 ounces gold at a cutoff of 0.30 g/t Au. Compliant resources at the Reid Porphyry include an inferred resource of 5.99 million tonnes averaging 0.558 g/t Au for 107,461 ounces gold at a cutoff of 0.30 g/t Au. To date no economic assessment or scoping study of the deposits has been performed and both deposits remain open for expansion.
The company is in the process of retrieving archived sample rejects from core sampling at both the Mosquito Hill and Reid Porphyry deposits in advance of commencing detailed metallurgical test work. This work is expected to begin in two to three weeks and take approximately 3 to 4 months to complete. Additional work on Huxter Lane -Brady will be proposed upon completion of the aforementioned milestones.
The company will also begin to evaluate the potential for ultramafic hosted nickel-iron alloy (awaruite) occurring on the Huxter-Brady project. Serpentinized ultramafic rocks underlie a significant portion of the property and have been intersected in a number of drill holes. Altius Minerals and Cliffs Natural Resources Exploration are currently jointly exploring for awaruite in Newfoundland and have reported (Altius Minerals News Release 8/8/2011) the presence of awaruite in serpentinized ultramafic rocks from at least three separate locations, including the Pipestone Pond area, immediately west of the Huxter -Brady property.
Gabbro Lake Iron Ore, Labrador (50/50 Joint Venture)
Golden Dory and Metals Creek (project operator) recently announced widespread high grade iron ore assays from at least three targets on the property, located in the Eastern portion of the prolific Labrador Trough Iron District. Within the Gabbro property, the magnetic data defines the Knob Lake iron formation as a structurally folded and faulted iron formation and shows a number of areas that may be thickened by the structural complexity. No known previous work has been carried out on these iron formation prospects. A total of 34 representative grab samples from outcrop and float returned assays ranging from 11.42% up to 75.38% Fe2O3. Approximately 79% of the samples assayed greater than 25% Fe2O3 and 62% of the samples over 40% Fe2O3. The iron formation samples were analyzed for Fe2O3 and the other major oxides by XRF Fusion at Activation Laboratories in Ancaster, Ontario. Drilling permits have been applied for and the companies are proposing a 1200 to 1500 meter diamond drill program for late Q2 2012.
Burin Property, Newfoundland
On October 10, 2010, Golden Dory announced that it had optioned portions of its Burin property to privately held Newfoundland Fluorspar Exploration Limited (Newfluorex) whereby Newfluorex could earn a 100% interest in three mineral licences prospective for economic deposits of fluorspar. The terms of the deal include a total of $25,000 in cash, issue 1 million shares of Newfluorex to Golden Dory over three years. Golden Dory would also receive a 0.5% Net Proceeds Royalty on any future fluorspar production from the properties and retain the exclusive right to explore for and develop any uranium resources discovered by Golden Dory on those licences. The properties surround the Canada Fluorspar Inc. project at St. Lawrence, Newfoundland which Canada Fluorspar intends to return to commercial production in 2013 (Canada Fluorspar Inc.,2009).
In late 2011, Newfluorex announced the discovery, on claims optioned from Golden Dory, of a new fluorspar vein system approximately 5 kilometers northeast of the Canada Fluorspar property (See Newfluorex website at www.Newfluorex.com). A single wildcat exploration hole, LSL-1, returned 22.89% CaF2 over 2 metres in a northwest trending structure. It is important to note that all of the significant past production at St. Lawrence was drawn from northwest trending vein structures. Newfluorex plans additional drilling later in 2012.
Pequop South Gold Project, Nevada
On December 6, 2011, Golden Dory announced results from the first ever reverse circulation drilling at Pequop South located in the Long Canyon trend of northeast Nevada. Pequop South lies southwest of, and on trend with, the Long Canyon gold deposit, host to 1.4 million ounces gold in Measured and Indicated resources, an additional 800,000 ounces gold in Inferred resources and the deposit remains open for expansion (Fronteer Gold Inc. January 2011 news release). Golden Dory is project operator and may earn a 70% interest in the Pequop South Property from Newmont USA Limited.
The seven hole program tested the JT target area located in the south western portion of the property where coincidental soil geochemical, geological and geophysical data suggested the possibility of a Carlin type gold system may exist in the southern extension of the Long Canyon gold trend. The results included localized anomalous gold values to a maximum of 0.178 g/t Au over 5 feet from drill hole PQS-11-3. The program intersected numerous cave/collapse systems several of which caused severe sample recovery problems in particular from drill holes PQS-11-1 and 2.
The drilling at JT represents the first exploration drilling completed on the 232 claim property and at least six targets remain to be tested along the 4 mile long structural corridor underlying the claims. The company has received drilling approvals from the Bureau of Land Management to begin drill testing the remaining targets including mineralized hematitic breccia that returned up to 0.246 g/t Au from the GD block, and to test several zones of high grade silver mineralization.
In 2011, the company sampled three zones of silver, copper and lead bearing quartz veins and breccia exposed in historical, possibly early 20th century, shallow pits. The most significant results were obtained from a series of northeast-southwest trending pits exposed over a one kilometer strike length in the northern portion of the JT Block about 1 kilometer northwest of the JT target area. A total of 12 composite grabs returned from 14.7 to 421 g/t silver with 50% of the samples returning greater than 110 g/t silver (3.53 ounces) silver as well as strongly anomalous copper and lead values (0.53% copper and 0.61% lead). Previous rock chip sampling by Golden Dory in 2010 from two historic prospect pits approximately 4 kilometres north of the JT area returned assays of 107 g/t silver, 0.34% copper and 22 ppb gold; and 693 g/t (22.28 ounces) silver, 1.30% copper and 197 ppb gold respectively. Thicknesses and orientations of the mineralized veins are not known at this time. Golden Dory will attempt to test as many of these targets as possible in the 2012 program.
Although not the primary focus of work at Pequop South, the base metal and silver mineralization is considered significant given that copper and lead bearing quartz veining is reported to occur around the Central Discovery Zone at Long Canyon, along trend to the northeast (Fronteer Gold Technical Report, June 28, 2010).
Reef Gold Project, Nevada
The Reef project is located on the southern Battle Mountain - Eureka gold trend, and is currently under an earn-in option agreement whereby Golden Dory can earn up to a 70% interest from Renaissance Gold Inc. (TSX.V-REN). The advanced Pan Project (Midway Gold Corp.), located 3 miles north of Reef, hosts significant Carlin type gold mineralization localized around the north south trending Pan fault. Field work at Reef is carried out by Renaissance Gold personnel under a management agreement with Golden Dory.
In late 2010, Golden Dory completed a Phase 1 reconnaissance reverse circulation drill program which was highlighted by the intersection in hole RF-10-6 of a 30 foot altered zone with anomalous gold, up to 155 ppb gold over five feet, as well as anomalous pathfinder elements believed to be similar in nature to the mineralization on Midway's ground to the north. Recently completed ground gravity and geological mapping programs suggest splays off of the southern extension of the Pan fault cross onto the Reef property in the eastern portion of the property.
In late 2011, an additional five widely spaced reverse circulation drill holes (in most cases a kilometer apart) totaling 4,210 feet, were drilled to test for inferred structures in the eastern portion of the property. Deeper than expected alluvium and/or late volcanic rocks suggests the target horizon was eroded in most holes, although weakly anomalous gold, up to 35 ppb, was reported in bedrock from holes RF-11-3 and 4. A new geological model will be produced incorporating the latest drilling. Additional work is being recommended and will focus on sampling and geological mapping in the vicinity of newly discovered jasperoid mineralization returning elevated (78 ppb gold) values, and where sufficient room exists to host significant volumes of mineralization.
Proposed Sale of Lithium Assets
The company is in the process of finalizing the terms of sale of its two lithium properties in Ontario to Super Metals and Mining (News Release January 18, 2012). A formal agreement is expected within the next few weeks.
About Golden Dory
Golden Dory Resources Corp. (TSX.V-GDR) is primarily focused on gold exploration at the Huxter Lane-Brady Project in Newfoundland & Labrador, Canada; and the Long Canyon (Pequop South), and Reef properties in the state of Nevada, USA. The company is also seeking partners on its earlier stage gold, uranium and high grade base metal properties in Newfoundland.
This news release has been reviewed and approved by Timothy Froude, P. Geo., a "Qualified Person" under National Instrument 43-101. For further information, please contact Kevin D. Keats, President and CEO of Golden Dory at (709) 256-4201, or Stephanie Fitzgerald at CHF Investor Relations at (416) 868-1079.
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.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Golden Dory will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Golden Dory.
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