Crown Gold Intersects 77 g/t Gold Over 0.9 Metres (2.2 Ounces/Ton Over 3 Feet) at the McKenzie Island, Red Lake Project
04 Marzo 2011 - 7:28AM
Marketwired
Crown Gold Corporation ("Crown" or the "Company") (TSX VENTURE:
CWM) is pleased to announce preliminary assay results from its 1300
m winter drilling programme at its McKenzie Island property in the
Red Lake district of north-west Ontario.
A total of 10 holes were drilled to test extensions of a 100 m
strike interval of an exposed quartz vein along the north-west
trending Bishop's Break shear zone. Extensive surface sampling here
in mid-2010 yielded assays between 3.2 g/t and 122.4 g/t gold over
true widths between 0.31 to 1.21 m. (News Release 10.16.10). An
initial 1000 m drill program in the fall of 2010 testing down dip
to the east returned assay results up to 65.5 g/t over 0.46 m (News
Release 11.17.10).
The latest drilling tested this zone further along strike and
down dip together with a new target, Perfect Storm, located 300 m
further north-west at the intersection of the Bishop's Break and
the east-west MacAndrews trends. The Bishop's Break quartz vein
target occurs in a granodiorite adjacent to, and west of, the
contact with a mafic dyke in a composite shear zone, originally
prospected by shallow trenches and drilled in the 1930s.
Of the 10 holes drilled on the Bishops Break zone, 9 intersected
the quartz vein with 4 assaying in excess of 8g/t Au over true
widths between 0.7 and 1.15 m. Significant results are tabulated
below.
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INTERSECTED
FROM TO WIDTH TRUE WIDTH g/tonne
HOLE # (m) (m) (m) (m) Au
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MK-29 43.85 44.70 0.85 0.70 8.8
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incl. 44.30 44.70 0.40 0.33 18.8
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MK-30 51.27 52.27 1.00 0.77 12.2
----------------------------------------------------------------------------
incl. 51.60 52.27 0.67 0.51 18.2
----------------------------------------------------------------------------
MK-33 57.50 59.00 1.50 1.15 8.7
----------------------------------------------------------------------------
incl. 58.00 58.50 0.50 0.38 25.7
----------------------------------------------------------------------------
MK-34 67.93 68.83 0.90 0.69 77.0
----------------------------------------------------------------------------
incl. 68.23 68.83 0.60 0.46 115.4
----------------------------------------------------------------------------
incl. 68.23 68.53 0.30 0.23 224.3
----------------------------------------------------------------------------
Eleven short holes drilled into part of the vein that produced
high grade gold values in trench samples has extended that sector
of the zone. True widths intersected range between 0.30 and 2.3
meters, assaying between 0.85 and 22.9 g/t gold. A series of 3
holes were drilled on the Perfect Storm Target with one
intersecting 3.4 g/t gold over a true width of 0.5 m.
Crown's Red Lake property consists of six patented claims on
McKenzie Island, approximately 4 km southwest of the former
McKenzie Red Lake Mine that produced more than 651,000 ounces of
gold at an average grade of 9.5 g/t. Total production from the
whole Red Lake Camp to December 31, 2010, is 28 million ounces of
gold.
Crown Gold, formed by the amalgamation of Crown Minerals and
Gold Summit, explores for high-grade gold and silver deposits in
Nevada and high-grade gold deposits in Ontario.
In north-west Ontario, Crown has two other gold properties in
addition to McKenzie Island. At Tabor Lake, sampling and previous
drilling at the old Sakoose Mine confirm that extensions of
previously mined grades of 14 g/t gold are present down plunge and
open at depth. Drilling of this property is planned in early 2011.
A large property package at Surprise Lake in the Uchi Belt, east of
Red Lake, contains a large number of gold occurrences, all classic
greenstone gold targets. In north-east Ontario, the company holds
strategic land positions adjacent to Trelawney's Cote Lake
discovery, at the old Stairs Mine near Matachewan and in the
Timmins camp. Evaluation of drill targets on these properties will
continue.
In Nevada, Crown has NI 43-101 compliant inferred resources of
approximately 300,000 ounces of gold and indicated resources of
37,000 ounces of gold at its Monte Cristo and Sugarloaf properties
at a cut-off grade of 1 g/t. These are the most advanced of five,
high-grade, epithermal vein systems controlled by the company. The
existing resources at Monte Cristo and Sugarloaf remain open along
strike and at depth. Planning for further exploration and
development, either underground or by surface drilling, is
underway. The three other properties, Blue Sphinx, Gold Springs and
Black Warrior, all contain well-defined and essentially, undrilled,
targets.
All drilling and sampling were completed under the direct
supervision of Scott Franko, Consulting Geologist to Crown Gold and
a registered Professional Geologist in Ontario and Manitoba,
designated as the Qualified Person under National Instrument 43-10
who reviewed and approved this release.
All assays reported in this release are from half sawn 51 mm
diameter NQ2 core samples, analyzed by standard fire assay/AA or
fire assay/gravimetric methods at SGS Laboratories in Red Lake.
Crown's QA/QC protocol includes the introduction of standard, blank
and replicate samples. Further assay results are pending and will
be released when available.
VISIT us at the PDAC in Toronto March 6-9...We are at booth
3004
Forward-looking Information: This news release may contain or
refer to forward-looking information. All information other than
statements of historical fact that address activities, events or
developments that Crown believes, expects or anticipates will or
may occur in the future are forward-looking statements. These
forward-looking statements are subject to a variety of risks and
uncertainties beyond Crown's ability to control or predict that may
cause actual events or results to differ materially from those
discussed in such forward-looking statements. Any forward-looking
statement, speaks only as of the date on which it is made and,
except as may be required by applicable securities laws, Crown
disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or
results or otherwise. Although Crown believes that the assumptions
inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance
and, accordingly, undue reliance should not be placed on these
forward-looking statements due to the inherent uncertainty
therein.
Historical information, such as the reported assay results for
the McKenzie Island property from the 1930s, pre-dates NI 43-101
and, accordingly, is not compliant with the requirements of NI
43-101; such historical information should not be relied upon.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
contents of this news release.
Contacts: Crown Gold Corporation Mr. Stephen Dunn President and
CEO (416) 822-3343 Crown Gold Corporation Dr. Anthony Taylor
Executive Chairman (775) 284-7200 info@crowngoldcorp.com
www.crowngoldcorp.com Investor Cubed Mr. Alan Huycke Principal
(416) 366-0010 www.investor3.ca
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