NMB has some nice drill results -- my only green mining stock at this point!
Normabec: Best Gold Intersection Ever on Pitt Gold, 82,88 g/t Au over 4,58 m
Thursday April 20, 10:36 am ET
ST-BRUNO, QUEBEC--(MARKET WIRE)--Apr 20, 2006 -- Normabec Mining Resources Limited (TSX VENTURE:NMB.V - News) is extremely pleased to announce the results of its latest drilling program on the Pitt Gold Property located along the Porcupine-Destor Break, some 35 km north of Rouyn-Noranda, Abitibi.
NORMABEC was able to complete two holes before the spring break up (PG2006-01 and PG2006-03, total of 1,436 m). Hole PG2006-01 (864 m) targeted an area of known high grade mineralization, at depth and in the center of the deposit area. The hole was also extended with the objective of exploring new structures to the north of the known gold bearing veins.
Numerous gold intersections were obtained below known structures, including 82,88 g/t Au over 4,58 m (2.42 oz/ton Au over 15,03 feet), between 717,4 m and 721,98 m. That intersection is probably close to true width. This is the best grade ever recorded on a property that has returned its share of high grade intersections in the past. Two other significant structures were intersected even deeper in the hole. The first one returned 9,69 g/t Au over 1,35 m and the second one 3,59 g/t Au over 5,5 m. Those results might correlate with unidentified structures intersected in one hole drilled in 1996 by Santa Fe Mining (DQ96-41) and never followed up properly. These remarkable results open new, almost virgin, territories at depth and to the north of vein #1 and #2. Vein 1 is not present in that part of the property while Vein 2 might correlate with a value of 4,81 g/t Au over 0,32 m obtained higher in the hole. This hole was stopped because of spring break up and will be deepened when ground conditions are favourable.
Hole PG2006-03 (572 m, 250 m east of PG2006-01) was drilled to test the eastern portion of Vein #1, 50 m from PG2005-11 which returned 14,48 g/t au over 1,45 m, 9,02 g/t Au over 2,95 m and 9,05 g/t Au over 1,4 m. A first value of 4,27 g/t Au over 0,74 m was returned from a zone of disseminated sulphides associated with fushite. That value might correlate with a marginal structure often observed in upper levels of the system. Vein #1 is represented by a structure that returned 1,9 g/t Au over 0,5 m within a strongly gold anomalous quartz feldspar porphyry (QFP). Vein #2 was not recognized and might be absent in that area.
The gold is generally related to zones of quartz stockwork and silicification containing between 2 to 10% of disseminated pyrite and traces of chalcopyrite. All rock types, north and south of the Porcupine-Destor Break, can host mineralized structures although intermediate volcanics and QFP appear to be favoured in term of continuity.
The following table shows the best results of this program;
Hole # From To Width g/t Au
(m) (m) (m)
PG2006-01 589,3 589,62 0,32 4,81
717,4 718,13 0,73 63,84
718,13 718,84 0,71 44,78
718,84 720,0 1,16 pending
(assumed nil)
720,0 721,03 1,03 210,89
721,03 721,98 0,95 88,40
average 717,4 721,98 4,58 82,88
813,07 813,67 0,6 1,30
813,67 814,42 0,76 16,31
average 813,07 814,42 1,35 9,69
838,8 839,8 1,0 12,64
840,7 841,4 0,7 1,13
841,4 842,46 1,06 2,71
843,1 844,3 1,2 2,77
average 838,8 844,3 5,5 3,59
PG2006-03 380,7 381,44 0,74 4,27
488,11 488,61 0,5 1,902
Numerous other samples were collected but results are pending. The next drilling program will be aimed at defining known high mineralization in the center of the deposit as well as these new high grade structures which appear to remain widely open, even towards surface. It should be noted that the mineralized intercepts obtained in DQ96-41, between 450 and 550 m of vertical depth, were never followed up towards surface (including 8,13 g/t Au over 0,5 m, 8,86 g/t Au over 1,84 and 3,03 g/t Au over 1,15 m).
All of NORMABEC's samples were analysed at Laboratoire Expert of Rouyn-Noranda and were subjected to fire assay with AA finish. All values above 1,000 ppb were re-analysed and cross-checks were done by fire assay with gravimetric finish and rejects re-analysed by fire assay with AA finish. Blank and standard samples were randomly introduced in our batches.
The 2006 drilling program was done under the supervision of Mr. Pierre O'Dowd, geologist and Qualified Person as per National Instrument 43-101 (OGQ #668).
NORMABEC can earn a 60 % interest of the property from partners SOQUEM INC. and GeoNova Exploration inc. by completing 15,000 meters of drilling before December 31, 2006 and an additional 20 % by investing a further $500,000 no later than December 31, 2007.
SOQUEM INC. is a wholly owned subsidiary of the Societe generale de financement du Quebec (SGF). The mission of the SGF, an industrial and financial holding company, is to undertake economic development projects in the industrial sector in cooperation with partners and in compliance with the economic development policies of the Government of Quebec.
GeoNova is a wholly owned exploration company of Campbell Resources Inc., a mining Corporation which operates mainly in the Chibougamau area (Quebec), and holds several gold and copper properties.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
Contact:
Contacts:
Normabec Mining Resources Limited
Robert Ayotte
President
(450) 441-9177
(450) 653-3721 (FAX)
normabec.com
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Source: NORMABEC MINING RESOURCES LTD. |
