This is an interesting company with a near Timmins Gold Mine.
I like the people running it. Someday they will have an operation going here if all goes well. Dependent on getting it going cheap. I would not mind mining and milling this stuff. They are high grade in one area, and medium low in another. Need more tons. Can mill it in Timmins I would think. Need 8 million for mill, maybe less, and perhaps 5 million for underground. Hard to find mill money. too bad you could not get going underground with say 1 or 2 million bucks. I only know one of two situations in Canada were you could do that. We might do one of them if we are lucky and get going soon.
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Young-Shannon Continues to Intersect High Grade Gold on McMillan Gold Mine Property
TORONTO, ONTARIO -- March 1, 2007) - Young-Shannon Gold Mines, Limited GYS/TSXV is pleased to report impressive gold assay results from continued diamond drilling completed on the Company's McMillan Gold Mine optioned claims located near the town of Espanola in northern Ontario, Canada. Three diamond drill holes, MM-06-01, MM-06-02, and MM-06-03 totalling 1,606 metres (5,267 ft.) were completed during this recent campaign.
Two of the three diamond drill holes were targeted to test along-strike and down-dip extensions to gold zones defined in drilling campaigns in 2005 and 2006. Of particular interest in this drilling program was to test the vicinity of diamond drill hole MM-05-13 where a gold zone was intersected in April, 2006 which averaged down hole grades and widths of 7.21 g/t gold over 21.3 metres including sections of 8.12 g/t gold over 4.60 metres, and 14.96 g/t gold over 8.60 metres, including 22.65 g/t gold over 4.70 metres, 27.72 g/t gold over 3.10 metres, and 35.70 g/t gold over 2.10 metres (see Young-Shannon's Press Release of May 31, 2006).
Highlights of this recent phase of drilling are summarized in the table
below:
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Core length
Hole No. Interval Intersection Au (g/tonne)
(metres) (metres)
----------------------------------------------------------
MM-06-01 423.00-424.25 1.25 4.21
438.00-439.00 1.00 11.11
448.90-449.25 0.35 3.34
452.70-453.00 0.30 17.39
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MM-06-02 491.30-493.15 1.85 4.29
including 491.30-491.60 0.30 13.82
including 492.85-493.15 0.30 12.00
514.40-514.70 0.30 8.91
----------------------------------------------------------
Fire assays using 30 gm pulp by Swastika Laboratories Ltd., Swastika, Ontario.
Blanks and standard samples are inserted for quality control and assurance.
Assay results showed that the gold zone intersected in drill hole MM-05-13 continued at depth. Drill hole MM-06-02 was collared 7 metres north of MM-05-13 at a steeper inclination angle and tested this gold zone approximately 160 metres (525 ft.) down-dip. It intersected 4.29 g/t (0.14 oz.) gold over 1.85 metres including one section of 13.82 g/t (0.44 oz.) gold over 0.3 metres, and a second section of 12.00 g/t (0.38 oz.) gold over 0.3 metres. It is important to note that this gold zone resides within a zone approximately 43 metres wide of silica flooding and quartz-carbonate veining within sheared, brecciated, and altered argillaceous sediments and arenites comprising approximately 10% sulphides of arsenopyrite, pyrrhotite, and pyrite - host rocks that are identical to the gold zone intersected up-dip in drill hole MM-05-13.
Approximately 21 metres down hole from this gold zone another narrow zone of quartz veining assayed 8.91 g/t (0.28 oz.) gold over 0.3 metres, with associated arsenopyrite, pyrrhotite, and pyrite.
Diamond drill hole MM-06-01 was collared 100 metres (328 ft.) westward along strike of diamond drill hole MM-05-05, completed in 2005, and 142 metres (466 ft.) westward along strike of drill hole MM-05-13. Drill hole MM-05-05 intersected 8.72 g/t (0.27 oz.) gold over 1.3 metres including one section of 27.22 g/t (0.87 oz.) gold over 0.3 metres (see Young-Shannon's Press Release of March 8, 2005).
Drill hole MM-06-01 intersected the same gold zone as drill hole MM-05-05 at approximately the same depth from surface, but due to the drill azimuth being oriented slightly east with respect to the azimuth of drill hole MM-05-05, the westward strike extent at depth was approximately 46 metres (151 ft.) from MM-05-05. Gold intersections in drill hole MM-06-01 included 4.21 g/t (0.13 oz.) gold over 1.25 metres hosted by approximately 8 metres of intense silica flooding with 10% arsenopyrite, pyrrhotite, and pyrite mineralization.
Approximately 14 metres down hole from this gold zone another zone of quartz veining assayed 11.11 g/t (0.35 oz.) gold over 1.0 metres with associated arsenopyrite and pyrrhotite mineralization.
A further 10 metres (approximately) down hole another zone of 3.34 g/t (0.11 oz.) gold over 0.35 metres associated with quartz-carbonate veining and approximately 7% sulphide mineralization as arsenopyrite and pyrrhotite was intersected.
Another 3 metres (approximately) down hole from the above zone drilling intersected 17.39 g/t (0.55 oz.) gold over 0.30 metres in quartz veining with arsenopyrite mineralization.
This gold zone, combined with the high grade gold intersected in diamond drill holes MM-05-05, MM-05-13, and MM-05-06 (see Young-Shannon's Press Release of May 24, 2005) sequentially eastward along strike defines a strike length of high grade gold mineralization of at least 550 ft. (168 m), which remains open in all directions.
Diamond drill hole MM-06-03 was collared approximately 10 metres north of drill hole MM-05-05 with a slightly different azimuth and inclination than MM-05-05. Its purpose was to test the strong IP chargeability high identified from the July 2005 down hole IP inversion modelling which showed a target occurring off the end (at a greater depth) of drill hole MM-05-05. |
