Thanks Craig, please keep us informed! ~ PXX NR today: "Samples Up To 15oz Gold/ton"
from New Property:
(FROM: goldcorner.com )
NEW 5,400 ACRE ARGYLE PROPERTY -
GALER LAKE GOLD MINERALIZATION OVER 6KMS
- GARVEY VEINS SAMPLES UP TO 15 OUNCES GOLD/TON
Orleans, Ontario: Patrician Gold Mines Ltd. ("Patrician") is pleased to announce
the aquisition of 49 claims (128 mining claim units) and one mining lease
encompassing an area of 2,198 hectares (5430 acres) located approximtely 25
kms west of the village of Matachewan, Northern Ontario. A past gold producer,
the Ashley Mine, (50,099 ounces of gold produced at .32 ounces of gold/ton in the
1930's & '40's) is located within the boundary of the Argyle property.
TARGETS
Galer Lake Fault
The Argyle Property is located along the trend of the Larder Lake - Cadillac
Break, the same structure associated with much of the gold production from
the Kirkland Lake-Matachewan area; a total of approximately 40 million
ounces of gold has been produced from these camps.
The Galer Lake Fault, a splay from the Larder Lake - Cadillac Break,
constitutes a significant exploration target.
The Galer LAke Fault traverses the entire width of the Argyle property for
some eight kilometres (five miles) east-west and it is at least 50 m (160 feet)
wide at surface. It occurs as a steeply dipping deformation zone with locally
developed iron carbonate alteration, silicification, and sulphide
mineralisation.
Past exploration has demonstrated the presence of widespread gold along
the trend of the Galer Lake Fault. Sampling along the trend of the fault by
Patrician and others indicates that strongly anomalous gold mineralsation
occurs over at least six kilometres (3.75 mi) of the 8km (5 mi) sector that
traverses the property.
In particular, at the Montrose Showing intersections of up to 10.6 grams
gold/tonne (0.309 oz gold/ton) over 3.0m (9.8 feet) have been obtained in
deill core. Elsewhere green carbonate (fuchsitic carbonate) alteration over
core intervals of 18 m (60 feet) has yielded anomalous gold values
averaging 200ppb.
Recent trenching on the Galer Lake Fault, conducted by Patrician, and
bracketing the previous Montrose work, has demonstrated intense
deformation and carbonatisation over widths of up to 70 metres (230 feet).
Sampling from these trenches has returned anomalous assay values of up
to 2.88 grams gold/tonne (0.084 oz gold/ton) from chip samples.
Garvey Veins
The Garvey Veins are narrow, shallow dipping quartz veins up to 0.5 m
(1.64 feet) wide.
Sulphide mineralisation is ubiquitous in the veins as aggregates up to 5.0
cm across consisting predominantly of pyrite with subordinate chalcopyrite.
The telluride is locally abundant and is strongly correlated to high gold
tenor. Alteration as vein selvage iron carbonate with disseminated sulphide
and altaite occurs as zones up to 20 cm wide.
In 1938 Erie Canadian Mines Ltd. reported that surface sampling along
exposures of the Garvey Vein averaged 11.66 grams gold/tonne (0.34 oz
gold/ton) across 0.23 m (0.75 feet) over 91.5 m (300 feet).
Patrician has obtained values of up to 509 grams gold/tonne (14.85
ounces/ton gold) from grab samples collected on these veins.
42 chip samples recently collected by Patrician returned the following
distribution:
Number of
samples Values by range
18 Less than 1 g/t Au
(less than 0.029 oz/t Au)
20 1.0 g/t Au - 10 g/t Au
(0.029 oz/t Au - 0.292 oz/t Au)
4 10 g/t Au - 83.143 g/t Au
(0.292 oz/t Au - 2.42 oz/t Au)
Significantly observations from the recently completed trenching program
suggest that alteration, sulphide mineralisation, and in particular altaite
mineralisation at the vein selvages is better developed at the west end of
the trenched area.
Proposed 1999 Exploration Program
Patrician intends to first re-establish grid control across the property and complete
I.P. coverage where it is absent. Initial work on the Galer Lake Fault involves
linecutting, followed by an IP survey. Trenching will be conducted over anomalous
I.P. responses, the Garvey Veins and other areas of merit. Diamond drilling targets
will be selected I.P. responses in conjunction with trenching and geological mapping.
For further information, please contact:
Robin B. Dow
HBA, MBA, FCSI
President
Bus: 613/834-7708
Fax: 613/834-7827
Toll Free: 1-888-834-7708
Guy Fortier
Investor Services
Bus: 613/834-7708
Fax: 613/834-7827
Toll Free: 1-888-834-7708 |
