Barramundi Gold - Longline News Snippet.
Barramundi Gold Ltd. - Announcement
Vancouver, BC
Barramundi Gold Ltd. (BAM:CDNX - ``Barramundi'') has received all assays from the latest drill program on the Longline gold property, Yukon, conducted pursuant to the agreement with Newmont Exploration of Canada Ltd., a subsidiary of Newmont Mining Corp. (NYSE:NEM - ``Newmont''). Barramundi and Newmont have spent in excess of $1,000,000 on exploration at Longline since the agreement was signed in August 1999.
The latest drill program consisted of six diamond drill holes with a combined length of 1753.5m. The first hole of the program, LL-00-1, tested a coincident induced-polarization (IP) geophysical anomaly identified in 1999 and the down-dip extension of the high-grade gold-bearing V3 quartz vein. The hole was collared 120 m east of the surface exposure of V3 and intersected two gold-bearing veins, 15m apart, near the depth projection of V3. Both veins contained visible gold. The uppermost vein assayed 2.21 g/t gold over 0.20m whereas the lower vein (probable V3 extension) returned 5.36 g/t gold over 0.31m. Also intersected were multiple 10 to 20cm zones of anomalous gold-bearing sulphide veins with associated strong sericite alteration.
Five of the six holes were drilled in the ``141 Zone'', a 3 km x 8 km arsenic ( gold, silver, bismuth and antimony soil anomaly. The 141 Zone is located north, along strike, from the known gold-bearing veins (V1, V2, V3). These widely spaced holes (1-2 km) tested anomalous soil geochemistry coincident with structural zones interpreted from detailed airborne magnetic surveys. All holes intersected multiple intervals of quartz-sericite-carbonate alteration as haloes around arsenic, lead, copper and bismuth sulphide-bearing veins. Two interesting intersections from LL-00-6 include 0.64 g/t gold and 936 ppm bismuth over 0.20m (at 185.55m) as well as 1.08 g/t gold over 0.20m (at 227.70m). A drill hole location map will be posted on the Barramundi website.
Based on all geological, geophysical and geochemical data accumulated to date, Barramundi is preparing a conceptual model outlining the potential for deeper targets in this highly prospective corridor of the 141 Zone.
FOR MORE DETAILED INFORMATION, PLEASE CONTACT:
Mike Johnson Phone (604) 681-7136 President, CEO Fax (604) 681-7120 Barramundi Gold E-mail mikej@barramundi.com Vancouver, B.C.
Sandy Sears Phone (604) 681-7136 Project Manager Fax (604) 681-7120 Barramundi Gold E-mail sandys@barramundi.com Vancouver, B.C.
The Canadian Venture Capital Exchange has neither approved or disapproved the contents of this release
SOURCE: Barramundi Gold Ltd. |
