Bluenose Gold (BN.H-V) reviews data, finds magnetic low at West
Aug 1st, 2013 - News Release
Bluenose Gold Corp., after reviewing aeromagnetic airborne data compiled by the Geological Survey of Canada and the Ontario Department of Mines, has determined that a significant magnetic depression (low) anomaly exists on Bluenose's West graphite prospect. Bluenose's West (hydrothermal) graphite prospect is located immediately west and adjacent to Zenyatta Ventures Ltd.'s Albany (hydrothermal) graphite property in Northern Ontario, Canada. The acquisition of the 16 claims blocks of the West (hydrothermal) graphite prospect was first announced by Bluenose on July 16, 2013. Hydrothermal graphite prospects in the area, including Zenyatta's recent significant discovery, coincide with magnetic depression (low) anomalies detected by historical airborne surveys. The historical survey results were compiled by Lockwood Survey Corp. in 1967 and published in Geophysics paper 3912, Constance Lake, Ontario, sheet 42 F/16. The magnetic depression (low) on Bluenose's graphite target is similar to the magnetic depression (low) the survey indicates on Zenyatta's adjacent Albany (hydrothermal) graphite project, where Zenyatta made its recent discovery of wide zones of (hydrothermal) graphite mineralization.
Bluenose is proceeding with acquiring the 16 claim blocks immediately west and adjacent to Zenyatta's Albany (hydrothermal) graphite project from a private vendor. The magnetic depression (low) anomaly on Bluenose's West (hydrothermal) graphite prospect is approximately two by 1.2 kilometres in size. It appears to have similar geophysical and geological signatures as the magnetic depression (low) anomaly where Zenyatta made its recent important discovery of (hydrothermal) graphite. Bluenose believes that its West graphite prospect has potential to contain similar (hydrothermal) graphite mineralization.
Bluenose notes its West (hydrothermal) graphite prospect is in no way connected to, or a part of, Zenyatta or Zenyatta's nearby Albany (hydrothermal) graphite deposit.
The technical content of this news release was reviewed and approved by Bohumil (Boris) Molak, PhD, PGeo, the qualified person for this project.
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