Ryan Gold Identifies Significant Gold-in-soil Anomalies, Up to 0.5 g/t Au, at the Sapphire Prospect, Kluane Project Area in t...
28 Noviembre 2011 - 10:00AM
Marketwired
Ryan Gold Corp. (TSX VENTURE:RYG), "Ryan Gold" or the "Company") is
pleased to report initial anomalous gold-in-soil values of between
100 ppb and 574 ppb from the reconnaissance soil program conducted
on the Sapphire Prospect in the Kluane project area during the 2011
exploration season. The Sapphire Prospect is one of seventeen claim
blocks that make up the current Kluane Project Area (see following
map:
http://media3.marketwire.com/docs/KluanePresentation_Sapphire.pdf).
The Sapphire prospect is located approximately 200 km northwest
from the city of Whitehorse and within the Whitehorse Mining
District of the Yukon Territory. The Sapphire Prospect initially
comprised a total of 460 claims for 9,614 hectares (See following
map:
http://media3.marketwire.com/docs/KluanePresentation_Sapphire.pdf).
This summer a total of 2,199 contour and ridge and spur soil
samples were taken at 50 m sample spacing within and surrounding
the original Sapphire claim block. Anomalous gold-in-soil values
greater than 100 ppb gold, the upper 1% of the gold-in-soil values,
and up to a maximum of 574 ppb gold were identified over the claim
blocks covering an area of approximately 13 km by 8 km (See
following map:
http://media3.marketwire.com/docs/Sapphire_Soils.pdf). The geology
of the area is comprised predominantly of late Cretaceous Kluane
Schist intruded by 1-2 m wide diorite - granodiorite dykes. Pyrite
bearing dacite boulders were observed in close proximity to saddles
within the area mapped. In the southwestern corner of the Sapphire
claim block an undeformed granodiorite, intrudes the Kluane Schist.
Two sets of quartz veins, one set parallel and the other
cross-cutting the schistose fabric, were observed within the schist
package. Minor quartz veins have been observed in the granodiorite
dykes.
The Company considers the above gold-in-soil results together
with the evidence of quartz veining in the schists and pyrite
mineralisation observed in dacite boulders to be very encouraging
for targeting gold mineralisation on the claim.
Based on the encouraging soil results and reconnaissance
mapping, an additional 207 claims totalling 4,326 hectares have
been staked to augment the Company's land position. Reconnaissance
ridge and spur sampling will be conducted within this new area in
the summer of 2012 and detailed soil grids and geological mapping
will be completed over the main areas of interest. The expanded
Sapphire Prospect now totals 667 claims and 13,940 hectares.
Ryan Gold together with Acme Laboratory has a QA/QC policy in
place to ensure accuracy, precision and quality of results. Acme
Laboratory is an ISO 9001 registered laboratory.
The exploration program was supervised by Ian Gendall (Pr. Sci.
Nat.), Vice President Exploration of Ryan Gold Corp. who is the
"qualified person" within the definition of that term in NI 43-101.
Michael Skead (MAusIMM), and a "qualified person" within the
definition of the term in NI 43-101, has reviewed the technical
information in this news release.
About Ryan Gold Corp.
Ryan Gold Corp. is an exploration company focussed on gold
exploration primarily in the Yukon Territory, Canada. The Company
is well funded and has a large land package of approximately 5,047
km2 comprised of 83 different properties. The company's flagship
property is Ida Oro. During the summer of 2010 a soil sampling
programme completed on Ida Oro revealed a significant, greater than
100 ppb Au, gold-in-soil anomaly over an area of 4 km by 1.2 km.
The company completed an 11 drill hole drill campaign for a total
of 2,854 m. In addition to Ida Oro the Company completed an
aggressive and systematic exploration program on its other
properties that included 13,985 line kilometres of airborne
magnetic and radiometric surveys, flown on the Mahtin and Nug
properties and collected 91,168 soil samples and geological mapping
of targets borne out of this campaign. Through this aggressive
exploration program the company objective is to have at least three
other projects drill ready for the 2012 exploration season.
This press release contains forward-looking statements within
the meaning of applicable securities legislation. Such statements
include, without limitation, statements regarding the future
results of operations, performance and achievements of the Company,
including potential property acquisitions, the timing, content,
cost and results of proposed work programs, the discovery and
delineation of mineral deposits/resources/reserves, geological
interpretations, proposed production rates, potential mineral
recovery processes and rates, business and financing plans and
business trends. Although the Company believes that such statements
are reasonable, it can give no assurances that such expectations
will prove to be correct. Forward-looking statements are typically
identified by words such as: believe, expect, anticipate, intend,
estimate, postulate and similar expressions, or are those, which,
by their nature, refer to future events. The Company cautions
investors that forward-looking statements by the Company are not
guarantees of future results or performance, and that actual
results may differ materially from those in forward-looking
statements as a result of various factors, including, but not
limited to, variations in the nature, quality and quantity of any
mineral deposits that may be located, significant downward
variations in the market price of any mineral that may be produced,
the Company's inability to obtain any necessary permits, consents
or authorizations required for its activities, to produce minerals
from its properties successfully or profitability, to continue its
projected growth, to raise the necessary capital or to be fully
able to implement its business strategies. All of the Company's
public disclosure filings may be accessed via www.sedar.com and
readers are urged to review these materials, including any
technical reports filed with respect to the Company's mineral
properties. This press release is not, and is not to be construed
as an offer to buy or sell securities in the United States.
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: For additional information, or for a copy of the early
warning report filed in respect of the above transaction: Ryan Gold
Corp. David Schmidt, VP Corporate Development (604) 639-3119
Michael Skead, CEO (416) 482-9038
(TSXV:RYG)
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