First Gold Detects a New InfiniTEM Conductor on its Jointly Owned Matchi-Manitou Project
Wed Apr 22, 8:01 AM
ca.news.finance.yahoo.com
LAVAL, QUEBEC--(Marketwire - April 22, 2009) - First Gold Exploration Inc. (the "Company" or "First Gold") (TSX VENTURE: EFG.V)(FRANKFURT:F12) is pleased to announced that the InfiniTEM survey carried out on its jointly owned Matchi-Manitou project has uncovered a new conductor in the northern portion of the project. Matchi-Manitou is located east of Val-d'Or, just north of First Gold Croinor gold project.
The winter program on Matchi-Manitou consisted of 37 km of magnetometric survey and 28 km of InfiniTEM survey covering the north-western portion of the property. The InfiniTEM survey detected a new conductor, along the northern boundary of the property, on lines 12+00W and 11+00W. The conductor appears open to the north-west, outside the property, where an Input anomaly had been detected in the 70's. Following these results, the company decided to stake five claims to cover the extension of this conductor. No drilling has ever been done on this part of the property.
Matchi-Manitou hosts a volcanogenic massive sulphide prospect that has seen limited exploration located 40km to the east from the Louvicourt mine in Val-d'Or which was one of the biggest Copper/Zinc discoveries in the 1980's. (15.65 Mt @ 3.42% Cu, 1.59% Zn, 25.78 g/t Ag and 0.92 g/t Au).
The Company intends to complete an InfiniTEM survey on the extension of the anomaly, send a team to collect grab samples and drill test the target.
Matchi-Manitou is owned by Normabec Mining Resources Ltd (TSX Venture Exchange: NMB). First Gold has the option to earn a 50% interest by spending $200,000 on the property and by issuing another 50,000 shares to Normabec. First Gold has spent approximately $150,000 on the property so far.
UPDATE ON CURRENT ACTIVITIES:
First Gold's scoping Study done by Golder Associates and the new 43-101 resource calculation of the Croinor 1 project should be received within 3 weeks time. First Gold is also actively looking for other projects with resources that could be mined in the near future, comments Eric Leboeuf, President.
Mr. Pierre O'Dowd, a Qualified Person under NI 43-101 has revised and approved the technical content of this release.
A map of the Matchi-Manitou project is available at the following address: media3.marketwire.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Contacts
Eric Leboeuf
First Gold Exploration Inc.
President and Chief Executive Officer
514-862-6889
president@firstgoldexploration.com
www.firstgoldexploration.com |
