Underworld Resources Inc. (TSX VENTURE: UW) is pleased to announce
the discovery of a 40 kilometer long trend of gold prospects and
anomalous gold in soil geochemistry at the JP Ross and Maisy May
Property. This trend exhibits similar geologic and geochemical
characteristics to the White Gold Trend, which hosts the Golden
Saddle and Arc Deposits. Within the trend, Underworld has
identified a "Golden Saddle" style geochemical signature that is
underlain by similar host rocks. The company intends to
aggressively drill test this area.
Underworld recently announced the initial resource estimation
for the Golden Saddle and Arc Deposits. The resource at Golden
Saddle includes 1,004,570 ounces at a grade of 3.2 g/t Au in an
indicated category, with an additional 407,413 ounces of inferred
resources at an average grade of 2.5 g/t Au. At the Arc Zone, the
initial resource includes 170,470 ounces at an average grade of 1.2
g/t Au in the inferred category (see UW 2010-NR #03).
The JP Ross trend is road accessible, located approximately 65
kilometers south of Dawson City, Yukon, and 35 kilometers north of
the White Gold Trend. Underworld recently completed additional
claim staking, expanding this claim group to 312 square kilometers.
The JP Ross trend includes the headwaters to multiple active, and
past producing placer operations, including: Henderson, Maisy May
and Black Hills creeks. Production records from the Yukon
Geological Survey (2009) report over 177,689 ounces of gold mined
from these operations.
During 2009, Underworld collected over 6,200 soil samples on the
Property, primarily 'ridge and spur' reconnaissance lines. Four
soil grids were completed over select target areas, including the
Frenzy, Marnie, Vertigo and Spellbound prospects. This work has
identified a 40 kilometer long, and up to 12 km wide area of
anomalous gold and pathfinder elements. The northwest trend at JP
Ross is a parallel orientation to the 9.5 kilometer by 3.5
kilometer trend at White Gold.
The Frenzy Au-in-soil anomaly measures 2.7 by 1.0 km and
consists of 459 samples with an average grade of 18 ppb Au, ranging
from trace to 1,142ppb Au. The prospect is underlain by similar
host rocks to the Golden Saddle Deposit, with a similar geochemical
signature. As a comparison, the Golden Saddle soil anomaly measures
1.8 by 0.9 km and consists of 348 samples which outlines an
u-shaped anomaly with an average grade of 22 ppb Au, ranging from
trace to 364 ppb Au.
The ridge and spur sampling has identified numerous areas for
additional grid soil sampling, including Sabotage Ridge, which is a
1,600 meter long, single ridge line gold with soil samples ranging
from trace to 132 ppb Au averaging 23 ppb. Samples for the entire
Property range from trace to 2,200 ppb Au, averaging 5 ppb.
The JP Ross and Maisy May area is underlain by a similar rock
types and structures to the White Gold property, including
metamorphosed mafic volcanic, intermediate intrusive and
sedimentary rocks, as well as mid-Cretaceous to Early Tertiary
plutons and volcanics. At the White Gold Property, the Golden
Saddle deposit is hosted within a metavolcanic sequence, and the
Arc Deposit is hosted with sedimentary rocks.
Adrian Fleming, President of Underworld, said, "The new soil
geochemical results for JP Ross vindicate the exploration approach
we have used, are similar or of larger magnitude to the footprint
of the Golden Saddle Deposit and confirm the potential of the White
Gold District to host multiple occurrences of gold mineralization.
We look forward to the results of our proposed aggressive 2010
regional drill program."
Due to poor exposure of bedrock in the White Gold District, soil
sampling is the primary reconnaissance exploration tool utilized by
Underworld. Underworld plans to set up an additional exploration
camp at JP Ross to complete further soil sampling, trenching and
diamond drilling during the 2010 field season.
Quality Assurance
SRK Consulting (Canada) Inc ("SRK") was engaged by Underworld in
September 2009 to evaluate the mineral resources for the White Gold
Project discovered and identified by drill programmes carried out
in 2008 and 2009.
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. Soil and rock samples were
collected by experienced and well trained geologists and geological
technicians, and shipped in sealed bags to Acme Laboratories in
Vancouver, B.C.
The Company's Exploration Program is being 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.
Contacts: Underworld Resources Inc. Jeff Sundar Investor
Relations 604-684-4001 604-484-7155 (FAX)
www.underworldresources.com
Underworld Resources Inc. (TSXV:UW)
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