American Consolidated Minerals Corporation: New Drilling Initiated at Toiyabe Project, Nevada
21 October 2010 - 12:00AM
Marketwired
American Consolidated Minerals Corporation (TSX VENTURE: AJC) (the
"Company") is pleased to provide the following exploration update
for its Toiyabe Project, located 12 miles south of the Pipeline
Mine in northeastern Nevada.
In the last few days, the Company has initiated a reverse
circulation drill program designed to test two northeast trending
structures that are viewed as potential feeder faults. These
structures were identified by a geophysical survey conducted over
the area. (A map of the geophysical survey, structural
interpretation and 2010 drill hole locations can be found on the
Company's website http://www.americanconsolidatedminerals.com.)
The first of the new drill holes, T-1003, is testing a fault
that offsets the "805" and West Graben faults. This is located 500
feet (150 m) northwest of the Company's recently completed deep
holes T-1001 and 1002. This hole will also test a north-south fault
interpreted in the same area. Drill hole T-1004 will test a second
northeast trending fault approximately 1,000 feet (300 m) further
to the northwest. T-1004 will also test beneath an undrilled
gold-in-soil anomaly. Weather permitting, two holes will be drilled
in each target.
"The knowledge gained from this summer's exploration program is
extremely important to unlocking Toiyabe's potential," commented
Company President, Al Fabbro. "The hanging wall target at depth is
of particular interest to us."
Deep drilling conducted over the summer indicated that there is
at least an 800 foot horizon of favorable host rock from 1,200' to
2,000' which makes the hanging wall side of the fault a very
favorable target at these depths. Hole 1002, which was collared in
the hanging wall, crossed the fault at 1000 feet and was well into
the footwall when it reached the favorable stratigraphy.
Planning for next year's drill program is already underway.
Testing of the hanging wall of the "805" fault within favorable
host rocks identified below 1000 feet in recent drilling will be
the primary focus.
The program will also involve near-vertical drilling of host
rocks adjacent to the "805" fault with each hole penetrating the
fault. This fault is gold-bearing, as shown by hole T-0902 which
averages 0.106 oz/ton gold (3.62 g/t) over 49 feet (14.9 m) (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). Reverse circulation
drilling, effective to 700-800 feet (213-244 m), will be the
primary tool to test the targets with core drilling used for deeper
holes.
If the northeast or north-south structures currently being
tested are found to be mineralized, there will be more emphasis
next year on drilling fault intersections as well as testing along
these potential feeder faults.
"Our upcoming program will be twofold in nature," continued
Company President Al Fabbro. "First of all, the Company's primary
target remains a deep bulk minable Pipeline or Cortez Hills style
deposit. Additionally, a shallow reverse circulation program is
being designed to increase and build on the Company's Indicated
Mineral Resource of 174,291 ounces of gold."
Interpretation of results from a recently completed geophysical
survey over the southeastern extension of the mineralization trend
will be completed shortly. New drill targets are expected from this
work. Finally, the Company anticipates having a complete drill plan
for 2011 in place by the end of next month.
Richard Kern (P.Geo), a director of American Consolidated
Minerals Corp., is the Company's Qualified Person on the Toiyabe
Project. Richard Kern has 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 more information on the Company and its properties please
visit the Company's website at
www.americanconsolidatedminerals.com.
ON BEHALF OF THE BOARD:
Al Fabbro, President & Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: American Consolidated Minerals Corporation Al Fabbro
President & Director 1-604-602-4935 or Toll Free:
1-866-602-4935 1-604-602-4936 (FAX)
www.americanconsolidatedminerals.com
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