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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (32711)	11/24/2004 11:35:38 AM
From: Rocket Red	Read Replies (1) \| Respond to of 39344

Gold Summit hits 116.8 g/t Au over 1.2 m in Maclean 2004-11-23 10:54 ET - News Release Shares issued 19,304,916 Close 2004-11-22 C$ 0.17 Ms. Hillary Vonich reports GOLD SUMMIT HITS 116.8 G/T (3.41 OPT) GOLD OVER 1.2 M IN FIRST CORE HOLE AT MONTE CRISTO Gold Summit Corp. has released preliminary assay results from the first two core holes completed in the current drilling program on the west side of the Maclean pit at the Monte Cristo prospect in Nevada. Hole From Width Au m m g/t MCC 12 196.0 1.0 25.0 197.6 3.3 47.2 Incl 1.2 116.8 202.5 1.0 1.3 204.2 1.2 7.8 Incl 0.4 16.9 MCC 15 168.4 1.2 1.1 174.2 0.8 7.1 The high-grade zone between 198.6 and 199.8 metres in hole MMC 12 contains visible gold in late-stage vuggy quartz veinlets and, at a vertical depth of 150 metres, is the deepest intersection yet obtained by Gold Summit. Hole MCC 15, drilled 70 metres south of MCC 12, intersected a badly fractured and weathered mineralized zone. Another deep core hole, MMC 16, is in progress and two more are currently planned. In addition, three reverse-circulation holes (MC 13, 14 and 17) totalling 650 metres were completed and a fourth RC hole is in progress. All three completed RC holes intersected the mineralized zone at shallower depths than the core holes, with varying amounts of quartz veining seen. Assays from completed RC holes are not yet available. Gold Summit drilling of the MacLean zone now encountered gold mineralization along approximately 300 metres of strike and 300 metres down dip to the west. It remains open in both of these directions and continues to show increase in both grade and total contained gold with depth. Work to obtain a permit for an expanded program of deeper core drilling is in hand to search for more plus-one-ounce intersections. Assay results tabulated above are by Fire/AA from American Assay laboratory in Sparks, Nev., from half HQ core samples. Core recovery was close to 100 per cent, using triple tube drilling equipment. Douglas R. Bowden, vice-president of exploration, a registered professional geologist in the state of Utah, is designated as the qualified person supervising Gold Summit's technical work.