American Consolidated Minerals Corporation: Deeper Drilling Finds Feeder Fault at Toiyabe Project, Nevada; Drill Hole T-0902 Int
22 Diciembre 2009 - 7:06AM
Marketwired
American Consolidated Minerals Corp. ("American Consolidated" or
the "Company") (TSX VENTURE: AJC) is pleased to announce the
results of two deep core holes drilled at its Toiyabe Project,
located 12 miles south of the Pipeline Mine in northeastern Nevada.
Drill hole T-0902 averages 0.106 oz/ton gold (3.62 g/t) over 49
feet (29.4 ft or 9.0 m true width) from 875 to 924 feet (267 to 282
m). Included within this interval is 5 feet (3.0 ft. or 0.9 m true
width) of 0.473 oz/ton gold (16.19 g/t). The fault hosted
high-grade gold and is related to a newly discovered high-angle
feeder fault called the "805 Fault" named for the 2008 drill hole
that indicated its existence. Further deep exploration drilling is
planned for next spring along the trend of the fault.
The Company drilled T-0901 toward the northeast at a dip of 67
degrees to a depth of 1,497 feet (456 m) to cross the West Graben
Fault and test for sediment hosted mineralization along its hanging
wall. Current interpretation is that drill hole T-0901 was
apparently collared in the hanging wall of the West Graben fault
and remained in the hanging wall. It did not reach postulated
Roberts Mountains Formation, a favorable host rock, and instead
remained in transition assemblage rocks, which may be repeated by
thrust faulting. Hole T-0901 did cut significant intercepts of
sediment hosted gold mineralization including 40 feet (38 ft. or
11.6 m true width) averaging 0.029 oz/ton gold (1.00 g/t) between
170 and 210 feet (52 to 64 m).
Drill hole T-0902 was drilled to the northeast at a dip of 82
degrees to a depth of 1089 feet (332 m). Initial interpretation is
that the hole was collared on the hanging wall of the 805 Fault,
crossed the fault from 875 to 924 feet (267 to 282 m) and then
drilled footwall rocks until lost at 1089 feet due to lost
circulation. This hole also remained in transition assemblage
rocks. The sediments were mineralized for 44 feet (13.4 m) below
the high-grade fault intercept (see above) but this gold zone is
thought to be related to structural preparation of the sediments.
Two additional narrow low-grade intercepts occur deeper in the
hole. All results for intercepts of 0.029 oz/ton gold (1.00 g/t)
are listed below and a map of drill hole locations is posted on the
company website.
Toiyabe Summary Drilling Results (greater than or equal to 5 feet @ greater
than or equal to 0.01 oz/ton Gold)
----------------------------------------------------------------------------
Sil-
Inter- ver True Sil-
Hole From To val True Gold (oz/Width Gold ver Target
No. (feet) (feet) (feet) Width (oz/ton) ton) (m) (g/t) (g/t) Area
----------------------------------------------------------------------------
T-0901 170 210 40 38.0 0.029 0.01 11.6 1.00 0.38 W. Graben
Fault
250 265 15 14.5 0.015 0.01 4.4 0.50 0.5 W. Graben
Fault
270 280 10 9.7 0.015 0.01 3.0 0.50 0.5 W. Graben
Fault
370 375 5 4.0 0.013 0.02 1.2 0.45 0.85 W. Graben
Fault
525 535 10 9.7 0.013 0.02 3.0 0.45 0.85 W. Graben
Fault
----------------------------------------------------------------------------
T-0902 198 210.5 12.5 10.0 0.029 0.03 3.0 0.98 1 805 Fault
875 924 49 29.4 0.106 0.06 9.0 3.62 2.1 805 Fault
Including 875 880 5 3.0 0.473 0.09 0.9 16.19 3.0 805 Fault
1043 1052 9 8.1 0.048 0.02 2.5 1.63 0.7 805 Fault
less less 805 Fault
than than
1057 1067 10 9.0 0.010 0.01 2.7 0.33 0.5
----------------------------------------------------------------------------
The company is very encouraged by these results and plans an
aggressive deep drilling program along the two feeder faults
identified to date with the primary target being a bulk minable
Pipeline or Cortez Hills style deposit. Also, because only a small
portion of the 3,300 acre property has been explored to date,
additional surface geochemistry and geophysical surveys are also
planned. This work is scheduled to begin in the spring of 2010.
"We are very pleased with the results of our work at our Toiyabe
Project and are looking forward to the exploration work planned for
2010," said President Al Fabbro. "We would like to take this
opportunity wish all of our friends and shareholders a safe and
happy holiday season. We very much appreciate and are thankful for
your continued support and hope to share a very prosperous New Year
in 2010."
Richard Kern (P.Geo), a director of American Consolidated, is
the Company's qualified person on the project. Richard Kern and
Paul Noland have prepared the technical information contained in
this press release.
American Consolidated is dedicated to the principles of
environmentally sound mining practices and believes that
environmental stewardship and mining can co-exist.
For details on the Company and its properties, visit the
Company's website at www.americanconsolidatedminerals.com.
ON BEHALF OF THE BOARD:
Al Fabbro, President & Director
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.
Contacts: American Consolidated Minerals Corporation Al Fabbro
1-604-602-4935 / Toll Free: 1-866-602-4935 1-604-602-4936 (FAX)
www.americanconsolidatedminerals.com
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