Hy Lake drills 37.7 g/t Au over 3.5 m at Red Lake
2007-04-12 00:54 ET - News Release
Shares issued 13,704,780
HYLK Close 2007-04-11 C$ 1.65
Mr. Robert Seitz reports
HY LAKE GOLD PHASE 1 RESULTS CALL FOR AN AGGRESSIVE DRILLING EXPLORATION PROGRAM IN RED LAKE, ONTARIO
Hy Lake Gold Inc. has released the results of the phase 1 drill program consisting of 16 drill holes in Red Lake, Ont., including the five holes that were previously announced in Stockwatch on April 2, 2007. The former-producing Jamie Frontier property is situated on the "Red Lake mine trend," west of the Gold Eagle mine and Goldcorp's Red Lake and Campbell mines.
Highlights of drill program:
37.7 grams per tonne (g/t) Au over 3.5 metres (1.1 ounces Au per ton over 11.5 feet);
35.1 g/t Au over 1.5 metres (one ounce Au per ton over 4.9 feet);
35 g/t Au over one metre (one ounce Au per ton over 3.28 feet); and
6.8 g/t Au over 1.75 metres (0.2 ounce Au per ton over 5.7 feet).
Hy Lake Gold will launch an aggressive drilling program to drill for gold at greater depths following the success of the recently completed 16-hole drill program. The exploration drilling program will follow the pattern similar to the successful exploration programs on the "Red Lake mine trend" at Gold Eagle Mines Ltd. and the Goldcorp Red Lake mine, where deep drilling beneath existing gold zones generated significant gold exploration success. Hy Lake Gold's Jamie Frontier property has historically been drilled to a depth of only 165 metres compared with the mines on the trend which have been drilled to depths exceeding 1,500 metres.
The attached table summarizes the assay results of the recent 1,854-metre, 16-hole drill program.
Drill Intersection Width Gold Gold check
hole assay assays
(metres) (metres) (g/t Au) (oz Au
per ton)
HY-01-07 No significant values
HY-02-07 54.0 to 55.0 1.0 1.50 0.044
55.0 to 55.7 0.7 2.70 0.079
------------- ---- ------- -----
Composite 54.0 to 55.7 1.7 1.92 0.058
------------- ---- ------- -----
HY-03-07 41.0 to 41.5 0.5 0.96 0.028
41.5 to 42.0 0.5 103.9 3.029 (3.723)
42.0 to 42.5 0.5 0.42 0.012 (0.026*)
------------- ---- ------- -----
Composite 41.0 to 42.5 1.5 35.1 1.023
------------- ---- ------- -----
HY-04-07 No significant values
HY-05-07 34.5 to 35.0 0.5 32.5 0.949 (0.588*)
35.0 to 35.5 0.5 9.15 0.267 (9.54, 7.30)
35.5 to 36.0 0.5 0.67 0.020
36.0 to 36.5 0.5 215.3 6.279 (9.873*)
36.5 to 37.0 0.5 0.26 0.007
37.0 to 38.0 1.0 2.90 0.085
------------- ---- ------- -----
Composite 34.5 to 38.0 3.5 37.7 1.099
------------- ---- ------- -----
HY-06-07 144.5 to 145.5 1.0 0.27 0.008 (0.008)
145.5 to 146.0 0.5 <0.01 <0.001
146.0 to 147.0 1.0 0.45 0.013
------------- ---- ------- -----
Composite 144.5 to 147.0 2.5 0.29 0.008
------------- ---- ------- -----
HY-07-07 83.35 to 83.55 0.2 2.15 0.063
96.4 to 96.6 0.2 2.33 0.068 (0.06)
HY-08-07 27.7 to 28.7 1.0 35.04 1.022 (0.908)
HY-09-07 No significant values
HY-10-07 38.5 to 39.0 0.5 3.19 0.093 (0.215)
39.0 to 39.5 0.5 0.36 0.010
------------- ---- ------- -----
Composite 38.5 to 39.5 1.0 1.78 0.052
------------- ---- ------- -----
68.80 to 69.00 0.20 0.17 0.005*
69.00 to 69.50 0.50 0.17 0.005* (1.93)
69.50 to 69.70 0.20 2.02 0.059*
69.70 to 70.00 0.30 1.23 0.036*
70.00 to 70.25 0.25 5.45 0.159*
70.25 to 70.50 0.25 3.43 0.1*
------------- ---- ------- -----
Composite 68.80 to 70.50 1.70 1.83 0.053
------------- ---- ------- -----
HY-11-07 145.50 to 146.00 0.50 0.52 0.015
146.00 to 146.75 0.75 0.03 0.001
146.75 to 147.25 0.50 0.4 0.012 (0.009)
147.25 to 148.25 1.00 0.05 0.001
148.25 to 149.00 0.75 0.23 0.007
------------- ---- ------- -----
Composite 145.50 to 149.00 3.50 0.20 0.006
------------- ---- ------- -----
HY-12-07 76.50 to 77.00 0.50 0.05 0.001 (<0.001)
77.00 to 77.60 0.60 2.57 0.075*
77.60 to 78.15 0.55 3.12 0.091*
------------- ---- ------- -----
Composite 76.50 to 78.15 1.65 1.99 0.058
------------- ---- ------- -----
HY-13-07 139.1--139.3 0.2 0.02 0.001 (0.033)
139.3--140.0 0.7 0.87 0.025 (<0.001)
------------- ---- ------- -----
Composite 139.1--140.0 0.9 0.68 0.020
------------- ---- ------- -----
HY-14-07 46.75 to 47.05 0.30 38.30 1.117 (1.252)
47.05 to 47.70 0.65 0.5 0.015
47.70 to 48.50 0.80 0.08 0.002
------------- ---- ------- -----
Composite 46.75 to 48.50 1.75 6.79 0.198
122.45 to 123.45 1.00 0.47 0.014 (0.016)
123.45 to 124.00 0.55 1.27 0.037*
---------------- ---- ------- -----
Composite 122.45 to 124.00 1.55 0.75 0.022
------------- ---- ------- -----
HY-15-07 107.95 to 108.95 1.00 0.67 0.020
108.95 to 109.45 0.50 0.06 0.002
109.45 to 110.00 0.55 3.08 0.090
110.00 to 110.50 0.50 <0.01 <0.001
110.50 to 111.50 1.00 0.03 0.001 (<0.001)
111.50 to 112.50 1.00 <0.01 <0.001
112.50 to 113.00 0.50 <0.01 17
Samples were analyzed with a gravimetric finish. Check analyses for gold were performed on approximately 10 per cent of the samples submitted and selected samples were analyzed or checked with a "metallics" or screen fire assay method. Additional check analyses, carried out by a secondary laboratory, are pending.
Many of the diamond drill holes in the current program targeted areas of exploration potential to the south of the Main zone and along its strike extensions, particularly to the east. Where holes did intersect the Main zone (for example, HY-03-07, HY-05-07, HY-08-07, HY-10-07 and HY-14-07), the results confirmed the narrow, high-grade character of the known mineralization. Favourable geology and alteration (silicification) were encountered in many of the drill holes along with low, but encouraging, values in gold. Holes HY-01-07, HY-04-07, HY-09-07 and HY-16-07 did not return assay values over 0.17 g/t Au. HY-16-07 was abandoned at a depth of 38 metres when it entered previous underground workings.
Reference to the previous work and other technical details can be found in the company's National Instrument 43-101 report prepared by Peter J. Vamos, PEng. This report is available from the Hy Lake website and on SEDAR.
Hy Lake can earn a 75-per-cent working interest in the Mount Jamie property by spending a total of $1-million on the property by Jan. 19, 2010. The first- and second-year commitment to expenditures have been completed.
The content of this release has been carried out under the supervision of John M. Siriunas, PEng, the designated qualified person for Hy Lake; Mr. Siriunas is also a director and officer of Hy Lake. |
