New Carolin Gold Reports Initial Drill Results of Surface Diamond Drill Program on The Ladner Gold Property
05 Mars 2013 - 5:49PM
Access Wire
New Carolin Gold Corp. (TSX - V: LAD) reports initial drill results
on the first two holes of a 15 hole drill program at its Ladner
Gold Property near Hope in southwestern British Columbia (see press
release November 6, 2012) Drill holes ID-01 and ID-02 were drilled
from the same site. The Idaho Zone consists of several gold
mineralized zones as observed from logging and assays in holes
ID-01 and ID-02. These two holes were drilled under the main trench
and essentially confirm the surface gold values. This area, which
lies adjacent to the 1015 portal and directly above the old mine
workings, was trenched in 1996 with assays ranging from 1 to 19 g/t
Au over sampling intervals of one metre. Assay results as shown
below indicate that infill sampling is needed in order to best
define the mineralized zones. Hole ID-01 returned 25.91 metres
grading 2.75 g/t gold which includes an 1.5 metre interval grading
10.4 g/t gold and another 1.5 metre interval grading 7.94 g/t gold.
Hole ID-01 ended in mineralization including a 0.80 metre interval
grading 5.14 g/t gold. It is worthy to note that this mineralized
zone is in volcanics whereas the other mineralized zones are within
sediments which opens up a potential to explore and develop a
larger gold resource. Hole ID-01 intersected an important
unconformity above the volcanics consisting of Ladner Creek
conglomeratic sequence overlying the Spider Peak volcanics. This is
an important marker horizon that is in apparent proximity to
mineralization. Calculated weighted averages of gold grades for
hole ID-01 are presented in the following table. The true widths of
these intersections are not known.
---------------------------------- |ID -01 | | |
| | |--------------------------------| |azimuth |200.00|
| | | |--------------------------------| |dip
|-45.00| | | | |--------------------------------|
|depth |181.35| | | |
|--------------------------------| | | | |
| | |--------------------------------| |FROM |TO
|Interval|Gold | | |--------------------------------| |(m)
|(m) |(m) |(g/t)| | |--------------------------------| |9.15
|35.06 |25.91 |2.75 | | |--------------------------------|
|includes| | | | |
|--------------------------------| |17.20 |18.70 |1.50
|10.40| | |--------------------------------| |20.20 |21.70
|1.50 |7.94 | | |--------------------------------| |
| | | | | |--------------------------------|
|45.00 |48.33 |3.33 |1.23 | |
|--------------------------------| | | | |
| | |--------------------------------| |176.80 |179.15|2.35
|2.82 | | |--------------------------------| |includes|
| | | | |--------------------------------| |178.35
|179.15|0.80 |5.14 | | ---------------------------------- Hole
ID-02 returned 3.66 metres grading 2.96 g/t gold which includes
2.13 metres grading 4.33 g/t gold. This hole was not drilled deep
enough to intersect the mineralized volcanics as noted in ID-01.
Calculated weighted averages of gold grades for hole ID-02 are
presented in the following table. The true widths of these
intersections are not known. --------------------------------- |ID
-02 | | | | |
|-------------------------------| |azimuth|200.00| |
| | |-------------------------------| |dip |-75.00|
| | | |-------------------------------| |depth
|105.75| | | | |-------------------------------|
| | | | | |
|-------------------------------| |FROM |TO |Interval|Gold | |
|-------------------------------| |(m) |(m) |(m) |(g/t)| |
|-------------------------------| | | | |
| | |-------------------------------| |6.10 |9.76 |3.66 |2.96
| | |-------------------------------| | | |
| | | |-------------------------------| |15.55 |20.43
|4.88 |1.12 | | |-------------------------------| |
| | | | | |-------------------------------|
|58.11 |63.11 |5.00 |2.37 | |
|-------------------------------| | | | |
| | |-------------------------------| |81.40 |83.00 |1.60
|0.44 | | |-------------------------------| | |
| | | | |-------------------------------| |87.50
|88.95 |1.45 |0.59 | | |-------------------------------|
| | | | | |
--------------------------------- Twelve diamond drill holes were
drilled in the Idaho Zone which previously has only seen sporadic
drilling, circa 1982. The objective of this drill program was to
test for mineralization from the surface findings down to the old
mine workings and to confirm historic results within the old mine
workings. Where no mineralization was observed from logging,
intervals were also sampled in order to characterize the potential
waste rock. Rock quality data was also logged in order to define
faults, shear zones and fractures necessary for mine design. The
Idaho Zone is also in a potential "starter pit" location, within an
open pit mining scenario. This zone can also be accessed from
underground for further definition drilling where surface drilling
sites are limited. Core was transported to a core shack located in
Hope, BC, where it was logged and sampled. Mineralized core was
sawed in half, with half of the samples shipped to Acme Analytical
Laboratories, an ISO 9001:2000 certified analytical laboratory,
located in Vancouver, BC. The remaining core was replaced in the
core box and is stored for future reference. Core recovery for
these holes averaged 97%. Blanks and standards were inserted in the
sample stream at the time of sampling and all samples subsequently
underwent testing by fire assay for gold and ICP-MS for
multi-elements. The technical content of this press release has
been reviewed and approved by the Company's President and CEO,
Bruce W. Downing, as the Qualified Person. About New Carolin Gold
Corp. New Carolin Gold is a Canadian-based junior mineral
exploration and development company engaged in the acquisition,
exploration, evaluation and development of 144 sq kms of contiguous
mineral claims, collectively known as the Ladner Gold Project,
located along the prospective and under-explored Coquihalla Gold
Belt located in southeastern British Columbia, which is host to
several historic small gold producers including the Carolin Mine,
Emancipation Mine, Pipestem Mine and numerous gold prospects. For
further information please visit the website at
www.newcarolingold.com. ON BEHALF OF THE BOARD OF DIRECTORS "Bruce
W. Downing" Bruce W. Downing, M.Sc., P.Geo, Hon.FEC President &
Chief Executive Officer Office778 - 294 - 3211
Emailceo@newcarolingold.com Web sitewww.newcarolingold.com 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 the accuracy of this
press release. We seek Safe Harbor. Not for distribution in the
United States. Caution concerning forward-looking information This
news release may contain forward-looking statements that are based
on the Company's expectations, estimates and projections regarding
its business and the economic environment in which it operates.
These statements are not guarantees of future performance and
involve risks and uncertainties that are difficult to control or
predict. Therefore, actual outcomes and results may differ
materially from those expressed in these forward-looking statements
and readers should not place undue reliance on such statements.
Statements speak only as of the date on which they are made, and
the Company undertakes no obligation to update them publicly to
reflect new information or the occurrence of future events or
circumstances, unless otherwise required to do so by law.
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