Duncastle Extends Historic Yankee-Dundee Project Mineralization; Hits 2.8 Metres Grading 5.2g/t Au, 122.3g/t Ag, 4.5% Pb and 13.
27 August 2009 - 2:38AM
Marketwired
Duncastle Gold Corp. (TSX VENTURE: DUN)(FRANKFURT: 5D3) reported
today results from three of five core holes drilled as part of its
summer exploration program on the Yankee-Dundee project. These
initial three holes successfully targeted high-grade extensions of
the Yankee Girl structure and highlight the significant precious-
and base-metal potential of this polymetallic vein system located
just three kilometres northeast of Ymir, in southeast British
Columbia.
Highlights from these holes include (reported as estimated true
thickness):
- 2.8 metres grading 5.2g/t Au, 122.3g/t Ag, 4.5% Pb and 13.8%
Zn contained within a 17.2 metre interval grading 1.2g/t Au,
21.9g/t Ag and 2.4% Zn from hole YD09-39, and
- 0.9 metres grading 12.2g/t Au, 71.6g/t Ag, 2.8% Pb and 3.1% Zn
contained within a 3.2 metre interval, grading 4.2g/t Au, 21.9g/t
Ag, 0.9% Pb and 1.1% Zn from hole YD09-40. Three additional
intercepts including a 0.4 metre interval of 17.8g/t Au, 124g/t Ag,
3.4% Pb and 3.9% Zn occur in the hangingwall of the main
intercept.
Two additional drill holes tested the Goodenough vein system,
located on a separate east-west-trending mineralized structure
about three kilometres north of the Yankee-Girl veins. Results from
these holes are pending. Total drilling for the summer program
equaled 1,149 metres.
Drill hole YD09-39 successfully tested the margin of the Yukon
Shoot, a precious-metal enriched lens of mineralization located to
the west of the historic Yankee Girl Mine workings, extending the
known mineralized zone at the "800" level (historical mine level
reflecting depth in feet below surface) by approximately
twenty-five metres. Although not completely delineated, drilling
has now defined a 90 metre strike-length for the shoot and a down
dip projection of over 280 metres. Higher grade mineralization
within the shoot, similar to that reported from hole YD09-39,
averages three metres thickness.
Drill hole YD09-40 successfully tested the 400 shoot, which is
located 65 metres to the west of the Yukon shoot in a previously
un-drilled extension of the Yankee Girl structure. Multiple
precious- and base-metal intercepts were intersected reflecting the
presence of several previously unknown hangingwall veins, the most
significant being a 0.9 metre interval (est true thickness) grading
12.2g/t Au, 71.6g/t Ag, 2.8% Pb and 3.1% Zn occurring approximately
70 metres up-section from the target Yankee Girl structure. Similar
higher grade veins are reported in historical references from
earlier mining and exploring and include the Bonus vein and
hangingwall structures at the "1235", "1360", and "1625" metre
levels. Neither the full lateral extent of these hangingwall veins
nor potential continuity between these structures is well defined
and provides additional targets for future exploration on the
property.
The Yankee Girl structure, as tested in drill hole YD09-40, is a
broad mineralized zone extending down hole from 197 metres to 210
metres and is comprised of an upper gold-enriched interval which
includes a 1.1 metre interval grading 12.9g/t Au and 13.1g/t Ag and
a silver and base-metal-enriched lower interval grading 63.8g/t Ag
and 4.1% Zn over a 1.1 metre interval. Continuity of the Yankee
Girl structure has now been demonstrated for over 65 metres to the
west of the previous drilling (at the Yukon shoot) and for over 240
metres to the west of the historical mine workings. Potential
mineralization between the Yukon and 400 shoots has yet to be
tested.
Duncastle Gold is currently planning an additional 1,620 metre
fall surface drill program to follow-up these and other targets
both at the Yankee Girl vein system and other prospects on the
Yankee-Dundee property area.
Lawrence Page, CEO of Duncastle, said, "the current drill
results continue to add value to the former Yankee-Dundee mine and
confirm our understanding of the geology of the Yankee Girl
structure and the surrounding area. Based upon three dimensional
modeling of historic drill intercepts and our current work we are
targeting and successfully intercepting mineralized extensions to
the west of the historically significant Yankee Girl mine and have
identified significant additional targets for the fall
program."
Table I: Significant intercepts from 2009 Summer Drilling on the
Yankee-Dundee Project Ymir, BC
----------------------------------------------------------------------------
Collar Data Est.
----------------- Inter- True
AZ DIP Depth From To val Thick- Au Ag Pb Zn
Hole # Deg Deg (m) m m m ness g/t g/t % %
----------------------------------------------------------------------------
YD09-38 159 -60 221.3 200.5 201.2 0.7 0.5 1.9 8.6 0.8 2.4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
YD09-39 163 -75 203.3 141.0 165.5 24.5 17.2 1.2 21.9 0.8 2.4
inc. 141.0 145.0 4.0 2.8 5.2 122.3 4.5 13.8
----------------------------------------------------------------------------
----------------------------------------------------------------------------
YD09-40 182 -60 224.6 114.5 118.9 4.3 3.2 4.2 21.9 0.9 1.1
inc. 117.2 118.5 1.2 0.9 12.2 71.6 2.8 3.1
YD09-40 154.8 157.0 2.2 1.6 5.0 34.2 0.9 1.1
inc. 154.8 155.4 0.6 0.4 17.8 124.0 3.4 3.9
YD09-40 197.2 203.7 6.5 4.9 3.1 7.2 0.2 0.4
inc. 197.2 198.7 1.5 1.1 12.9 13.1 0.2 0.3
YD09-40 205.6 210.7 5.1 3.8 0.2 24.3 0.2 1.3
inc. 205.6 207.1 1.5 1.1 0.6 63.8 0.2 4.1
----------------------------------------------------------------------------
Additional results including a long section of the Yankee Girl
structure and sections of drill holes YD09-39 and YD09-40 are
available for download from the company's website at
http://www.duncastlegoldcorp.com.
About Duncastle Gold
Duncastle Gold Corp. is a mineral exploration company based in
British Columbia, Canada with projects in both central and
southeastern BC. The Yankee-Dundee project comprises 26 crown
grants under a 100% option agreement and 95 tenured mineral claims
totaling approximately 5,987 hectares in the Nelson Mining
District, located three kilometres northeast of the town of Ymir in
southeastern British Columbia. Gold mineralization was first
reported near Ymir in the late 1800s, with much of the mining
taking place at the Yankee Girl, Dundee and Ymir mines during the
period 1907 to 1951. Historical records indicate that a total of
375,000 tonnes grading 9.9g/t Au and 57g/t Ag were mined from the
Yankee Girl vein during this time. Exploration by the company is
targeting high-grade Au-quartz veins throughout the Ymir district
which historically, together with the adjacent Sheep Creek district
is reported to have produced more than one million ounces of
gold(1). The Ymir camp was the largest silver producer in the
British Commonwealth in the 1930s (BC MEMPR Bulliten 109, 2001). In
central B.C. the company has the 8,641 hectare Porphyry Creek
property in the Rocher Deboule Mountains near Smithers, with a
porphyry or IOCG copper-gold target. Duncastle Gold Corp is a Manex
Resource Group company.
Rob Macdonald, (P.Geo.), is the Qualified Person responsible for
reviewing the technical results in this release.
On behalf of the Board of Directors,
Lawrence Page, Q.C., President, Director, Duncastle Gold
Corp.
(1) Production data was obtained from historical government
records and has not been independently verified by the current
operators of the project.
This News Release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements. Duncastle Gold Corp. relies upon
litigation protection for forward looking statements.
Neither 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: Duncastle Gold Corp. Jay Oness 1.888.456.1112 or
604.641.2771 corpdev@mnxltd.com www.duncastlegoldcorp.com
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