American Consolidated Minerals Corporation: Deeper Drilling Finds Feeder Fault at Toiyabe Project, Nevada; Drill Hole T-0902 Int
22 December 2009 - 11:07PM
Marketwired Canada
American Consolidated Minerals Corp. ("American Consolidated" or the "Company")
(TSX VENTURE:AJC) is pleased to announce the results of two deep core holes
drilled at its Toiyabe Project, located 12 miles south of the Pipeline Mine in
northeastern Nevada. Drill hole T-0902 averages 0.106 oz/ton gold (3.62 g/t)
over 49 feet (29.4 ft or 9.0 m true width) from 875 to 924 feet (267 to 282 m).
Included within this interval is 5 feet (3.0 ft. or 0.9 m true width) of 0.473
oz/ton gold (16.19 g/t). The fault hosted high-grade gold and is related to a
newly discovered high-angle feeder fault called the "805 Fault" named for the
2008 drill hole that indicated its existence. Further deep exploration drilling
is planned for next spring along the trend of the fault.
The Company drilled T-0901 toward the northeast at a dip of 67 degrees to a
depth of 1,497 feet (456 m) to cross the West Graben Fault and test for sediment
hosted mineralization along its hanging wall. Current interpretation is that
drill hole T-0901 was apparently collared in the hanging wall of the West Graben
fault and remained in the hanging wall. It did not reach postulated Roberts
Mountains Formation, a favorable host rock, and instead remained in transition
assemblage rocks, which may be repeated by thrust faulting. Hole T-0901 did cut
significant intercepts of sediment hosted gold mineralization including 40 feet
(38 ft. or 11.6 m true width) averaging 0.029 oz/ton gold (1.00 g/t) between 170
and 210 feet (52 to 64 m).
Drill hole T-0902 was drilled to the northeast at a dip of 82 degrees to a depth
of 1089 feet (332 m). Initial interpretation is that the hole was collared on
the hanging wall of the 805 Fault, crossed the fault from 875 to 924 feet (267
to 282 m) and then drilled footwall rocks until lost at 1089 feet due to lost
circulation. This hole also remained in transition assemblage rocks. The
sediments were mineralized for 44 feet (13.4 m) below the high-grade fault
intercept (see above) but this gold zone is thought to be related to structural
preparation of the sediments. Two additional narrow low-grade intercepts occur
deeper in the hole. All results for intercepts of 0.029 oz/ton gold (1.00 g/t)
are listed below and a map of drill hole locations is posted on the company
website.
Toiyabe Summary Drilling Results (greater than or equal to 5 feet @ greater
than or equal to 0.01 oz/ton Gold)
----------------------------------------------------------------------------
Sil-
Inter- ver True Sil-
Hole From To val True Gold (oz/Width Gold ver Target
No. (feet) (feet) (feet) Width (oz/ton) ton) (m) (g/t) (g/t) Area
----------------------------------------------------------------------------
T-0901 170 210 40 38.0 0.029 0.01 11.6 1.00 0.38 W. Graben
Fault
250 265 15 14.5 0.015 0.01 4.4 0.50 0.5 W. Graben
Fault
270 280 10 9.7 0.015 0.01 3.0 0.50 0.5 W. Graben
Fault
370 375 5 4.0 0.013 0.02 1.2 0.45 0.85 W. Graben
Fault
525 535 10 9.7 0.013 0.02 3.0 0.45 0.85 W. Graben
Fault
----------------------------------------------------------------------------
T-0902 198 210.5 12.5 10.0 0.029 0.03 3.0 0.98 1 805 Fault
875 924 49 29.4 0.106 0.06 9.0 3.62 2.1 805 Fault
Including 875 880 5 3.0 0.473 0.09 0.9 16.19 3.0 805 Fault
1043 1052 9 8.1 0.048 0.02 2.5 1.63 0.7 805 Fault
less less 805 Fault
than than
1057 1067 10 9.0 0.010 0.01 2.7 0.33 0.5
----------------------------------------------------------------------------
The company is very encouraged by these results and plans an aggressive deep
drilling program along the two feeder faults identified to date with the primary
target being a bulk minable Pipeline or Cortez Hills style deposit. Also,
because only a small portion of the 3,300 acre property has been explored to
date, additional surface geochemistry and geophysical surveys are also planned.
This work is scheduled to begin in the spring of 2010.
"We are very pleased with the results of our work at our Toiyabe Project and are
looking forward to the exploration work planned for 2010," said President Al
Fabbro. "We would like to take this opportunity wish all of our friends and
shareholders a safe and happy holiday season. We very much appreciate and are
thankful for your continued support and hope to share a very prosperous New Year
in 2010."
Richard Kern (P.Geo), a director of American Consolidated, is the Company's
qualified person on the project. Richard Kern and Paul Noland have prepared the
technical information contained in this press release.
American Consolidated is dedicated to the principles of environmentally sound
mining practices and believes that environmental stewardship and mining can
co-exist.
For details on the Company and its properties, visit the Company's website at
www.americanconsolidatedminerals.com.
ON BEHALF OF THE BOARD:
Al Fabbro, President & Director
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