August Announces Trenching Program at Las Lajas Gold Project, Mexico Completed; Follow-Up Diamond Drilling Program Underway
13 Avril 2011 - 2:00PM
Marketwired
August Metal Corp. (TSX VENTURE: AGP) (the "Company" or "August")
is pleased to announce that an extensive mechanical trenching
program has been completed on the Las Lajas Gold Project in
southern Sonora State, Mexico.
The trenching program was designed to test soil and rock
geochemical anomalies from four separate gold and copper
exploration targets, outlined in prior exploration programs by
Minera Glamis and Minera Phelps Dodge in the 1990's and by Minera
Goldzone in 2008-2010. Approximately 4,428 metres of trenching was
mechanically excavated in 47 trenches at the Peluchin West,
Peluchin and El Terco South gold zones and the El Triunfo copper
zone. The Company is awaiting final receipt of all trenching
results.
Additionally, Minera Goldzone, S.A. De C.V., Goldzone
Exploration Inc.'s Mexican subsidiary, has entered into a 1,500
metre diamond drill contract with GlobeExplore Drilling, S.A. De
C.V. (August has an option to purchase 100% of the outstanding
shares of Goldzone Exploration Inc. - see the Company's news
release dated February 24, 2011). The drill program is designed to
test targets defined and untested by previous operators, and on
targets generated by the recently completed trenching program on
the Las Lajas Gold Project. The drilling program is anticipated to
take 4-6 weeks to complete and is expected to consist of a minimum
of 1,500 metres of wireline HQ/NQ core.
Las Lajas Gold Project Overview
The Las Lajas Gold project covers approximately 163 square
kilometers (16,311 hectares) in southern Sonora State, Mexico, and
comprises seven mineral concessions centered 15 kilometers north of
the city of Navojoa. Sonora State contains numerous precious and
base metal deposits and producing mines, and has a strong mining
history and culture with favorable permitting and
infrastructure.
The Las Lajas Gold Project contains several gold prospects
localized within a metamorphosed sequence of siliclastic volcanic
rocks, related clastics and thin limestone beds. The limestone
beds, at least in part, are the footwall to the gold mineralization
and metamorphic grades are greenschist in strongly foliated rock.
An east-southeast-directed thrust fault is probably the major
control of mineralization in the Las Lajas district with veining
localized along strong structural features. Gold targets exist in
structurally prepared zones, especially in fractured areas within
altered and veined metamorphic rocks, adjacent to larger scale
shears. For further information please see the NI 43-101 report on
the Las Lajas Gold Project filed on SEDAR.
Additional information on the Company may be found on SEDAR at
www.sedar.com and on the Company's website at
www.augustmetal.com.
Reza Mohammed BSc., President
August Metal Corp.
Certain disclosure in this release constitute forward-looking
statements that are subject to numerous risks, uncertainties and
other factors relating to the Company's operation as a mineral
exploration company that may cause future results to differ
materially from those expressed or implied by those forward-looking
statements. Readers are cautioned not to place undue reliance on
these statements as they involve known and unknown risks,
uncertainties and other factors that may cause a change in
assumptions and the actual outcomes and estimates may be materially
different from the estimated or anticipated future results,
achievements or positions expressed or implied by those
forward-looking statements. The Company disclaims any intentions or
obligations to update or revise any forward-looking statements
whether as a result of new information, future events or
otherwise.
Neither 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.
Contacts: Progressive Investor Relations Ben Curry (604)
689-2881 Progressive Investor Relations Andrew Mugridge (604)
689-2881 info@augustmetal.com www.augustmetal.com
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