NL news looks like some good holes:
NEWS RELEASE
MINE WEST STEP-OUT EXTENDS MINERALIZATION AT DEPTH AND TO THE WEST
November 19, 2004
TSX-V Symbol: NL
Vancouver, British Columbia: Northern Lion Gold Corp. (the “Company”) has
now completed 3,935 meters of diamond drilling, in 15 holes, since the
commencement of the Phase IV exploration program on its Haveri gold-copper
property in southwest Finland. In addition, it has carried out continuous
ground geophysical surveying, comprising horizontal loop EM and total field
magnetics, over a 3.9 kilometer-long, north-south trending grid covering the
land-based, geologically prospective portions of the property.
A second drill has arrived at Haveri and management intends to expand the
number of meters to be drilled. One drill will now be exclusively focused
on resource definition and expansion, while the second drill will continue
to follow up and test exploration targets.
Diamond Drilling:
Approximately 80% of the completed drilling was directed toward a better
understanding of the geology and the continuity and extent of the gold
mineralization at Peltosaari (6 holes/1563 meters), located some 700 meters
to the east-northeast of the open pit, and in the Mine West (4 holes/1268
meters) and Southwest Copper Zones (2 holes/602 meters), both of which are
within the area of previous mining. The remaining 20% was a further
investigation of previously identified exploration targets at Haveri North
(2 holes/549 meters) and Ansomaki (2 holes/329 meters) located approximately
200 meters north and 950 meters to the south, respectively, from the open
pit. The Company has now received gold fire assay results for 10 of the 15
holes completed.
Assay Results.
The following is a list of assay results received but not previously
released.
Hole MW-03 (Mine West Zone):
From (m) To (m) Interval (m) Grade Au (g/t)
25.00 26.50 1.50 52.70
149.50 200.00 50.50 0.97
277.00 293.00 16.00 1.12
351.50 420.50 69.00 2.62
including 351.50 383.00 31.50 4.37
including 363.00 377.00 14.00 8.28
Hole MW-01 (Mine West Zone):
From (m) To (m) Interval (m) Grade Au (g/t)
6.20 7.50 1.30 9.30
110.00 111.00 1.00 4.46
263.50 392.50 129.00 1.22
including 272.00 277.50 5.50 2.02
including 335.50 338.00 2.50 4.90
including 345.50 350.00 4.50 4.25
including 371.00 374.00 3.00 2.51
including 390.00 392.50 2.50 4.17
Hole SW-01 (Southwest Copper Zone):
From (m) To (m) Interval (m) Grade Au (g/t)
86.00 94.00 8.00 1.74
133.00 144.40 11.40 1.06
158.00 159.50 1.50 11.40
Hole SW-02 (Southwest Copper Zone):
From (m) To (m) Interval (m) Grade Au (g/t)
66.00 104.50 38.50 2.14
including 74.00 86.30 12.30 3.01
including 74.00 81.00 8.00 3.78
95.00 103.00 8.00 4.58
119.00 121.00 2.00 3.54
163.50 169.00 5.50 2.00
Hole P-07 (Peltosaari):
From (m) To (m) Interval (m) Grade Au (g/t)
138.25 138.50 0.25 33.50
229.00 230.00 1.00 6.24
Hole P-08 (Peltosaari):
From (m) To (m) Interval (m) Grade Au (g/t)
143.85 145.00 1.15 5.21
211.00 220.00 9.00 3.28
228.00 230.00 2.00 8.45
Hole P-09 (Peltosaari):
From (m) To (m) Interval (m) Grade Au (g/t)
74.25 108.00 33.75 2.40
Including 90.50 108.00 17.50 3.34
120.70 126.00 5.30 3.43
186.00 190.50 4.50 1.34
Hole P-10 (Peltosaari):
From (m) To (m) Interval (m) Grade Au (g/t)
44.00 45.50 1.50 3.44
50.00 51.50 1.50 2.00
Hole AM-04 (Ansomaki):
No significant values.
Hole AM-05 (Ansomaki):
No significant values.
Note: All intercepts are down-hole widths. True widths will be determined on
completion of updated drill cross sections. All assays are preliminary.
Field activities are supervised by Henrik Wik, M.Sc. (Geology and
Mineralogy), under the direction of John R. Fraser, P.Geo (B.C.), Vice
President, Exploration, a “Qualified Person” as defined by National
Instrument 43-101. All samples are analysed for gold by Activation
Laboratories Ltd. (Actlabs), Ancaster, Ontario, using fire-assay with
geochemical finish on a 30-gram sub-sample. For details on the ongoing QA/QC
program for this project, the reader is referred to a Company news release
dated May 26, 2004.
Discussion.
Mine West Zone: Two holes (MW-01, MW-03), 73 meters apart, and directed to
the east, were completed in this zone with the purpose of exploring areas
where there is no record of previous drilling and to intersect possible
down-dip extensions of the mineralization at the Haveri Mine. Both holes
encountered one or more wide intervals of gold mineralization, hosted by
variably altered (amphibole-chlorite; silica) mafic volcanics. Within these
intervals are higher grade gold sections, characterized by increased quartz
vein/veinlet content and sulphides (pyrrhotite, pyrite) up to 45%. The
mineralized zone(s) in both holes are open to the north and south and to the
west at depth, beyond 340 meters vertical.
Southwest Copper Zone: Holes SW-01 and SW-02, drilled to the west and
located 40 meters apart on the same north-south section, were designed to
test extensions of copper–gold mineralization mined from the 96-meter level
by the previous mine operator. SW-02 yielded 2.14 g Au/t over 38.5 meters in
altered (iron-magnesium, potassic) mafic volcanic rocks exhibiting elevated
quartz vein content. Copper values (+1000 ppm to a maximum of 6180 ppm), as
determined by Actlabs using ICP-MS analysis, were also elevated throughout
much the hole, with the best section being 1502 ppm over 36.00 meters (73.00
to 116.50 meters). Assays are awaited for SW-01.
Peltosaari: This zone contains an historical inferred resource, calculated
by Glenmore Highlands Inc. in 1996, of 166,416 tonnes with an average grade
of 5.79 g Au/t to a depth of 150 meters, with a cutoff grade of 2.0 g/t and
a minimum width of 1.5 meters. These drill holes were designed to provide
structural and geological information that could be used to increase and
enhance this resource. The current program indicates that the zone extends
down dip/plunge to the west, to a vertical depth of at least 200 meters.
Results for holes P-04 and P-06 are pending.
Ansomaki: These holes were planned to test a drill intercept (5.4 meters @
8.0 g Au/t) obtained by Outokumpu Oy in 1977 from a diamond drill hole
(HVR-5) located in the south-central part of what is presently the Ansomaki
claim. Both were spotted on the basis of ground and airborne EM and magnetic
information, but the exact location of the Outokumpu hole has not been
accurately determined. Further work is planned.
Geophysical Survey:
During September, JVX Ltd., of Richmond Hill, Ontario, completed horizontal
loop EM (45.1 line km) and total field magnetic (61.4 line km.) surveys over
the contiguous Haveri North, Ansomaki and Eronen (Monkanmaki) grids. Data
were collected at stations 25 meters apart on lines 50 and 100 meters apart.
Blaine Webster, P.Geo. (Ont) and Ian Johnson, P. Eng. (Ont) were the
Qualified Persons for this program. Final results are awaited.
About Haveri
The Haveri Project comprises the Haveri and the Ansomaki claims. On the
completion of an agreement announced on October 5, 2004, Northern Lion will
own 100% of both claims. The project encompasses an area of widespread gold
and copper mineralization, within altered mafic and felsic volcanic and
volcaniclastic rocks of the early Proterozoic Tampere Schist Belt, over an
area 1.5 kilometers by 2.0 kilometers. The properties are located 175
kilometers north of Helsinki, in Finland, a mining-friendly and
infrastructure-rich member of the European Union.
ON BEHALF OF THE BOARD OF NORTHERN LION GOLD CORP.
John Lando, President
For information with respect to the Company or the contents of this news
release, please contact John Lando or Don Flahiff at (604) 669-2701, toll
free at 1-800-663-0510 or email to info@northernliongold.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this news release. |
