Dawson Gold Announces Toro Project Summer 2011 Program Preparations Complete
17 May 2011 - 3:36AM
Marketwired Canada
Dawson Gold Corp. (TSX VENTURE:DYU) ("Dawson Gold" or the "Company") announces
the completion of preparations for the upcoming summer exploration program on
the Toro Property, Dawson Range, White Gold District Yukon.
Anticipating an aggressive summer 2011 exploration campaign, Dawson Gold
contracted the activation of the permitted Toro winter road to more
cost-effectively mobilize in required equipment and supplies. Re-activation of
the winter road was completed in late March and subsequently all fuel needs,
camp up-grade requirements, and diamond drilling supplies and materials were
mobilized into site during April. In addition, a Hitatchi 330 excavator and
Caterpillar D6 bulldozer are now on the Toro Property, both of which will be
utilized to support historic trail re-activation, new access construction,
planned trenching programs and on-site diamond drill rig transportation.
"Every dollar saved on the movement of people and materials allows for a greater
component of the budget to be effectively spent on the ground where we can
continue to make discoveries" commented Dawson Gold CEO Paul D. Gray, P.Geo.
"Preparations made ahead of the summer 2011 season will allow the Company to
efficiently use all available resources in a thorough and systematic exploration
of the Toro Property including further geochemical delineation, trenching,
geophysics and diamond drilling. Dawson Gold is excited to get into the Toro
Property early in the 2011 season and execute a lengthy, successful program this
year".
The Toro Project comprises 412 contiguous Quartz Mining Claims covering 83 km2
of prospective ground along the Big Creek Fault in the Dawson Range. The Project
area is host to the same geology, a similar structural environment and
Au-in-soil anomalies comparable to Kaminak's Coffee Gold Project approximately
45 km to the northwest. The Toro Project also contains a large body of the
approx. 74 million year-old quartz monzonite lithology which hosts Western
Copper's Casino Au-Cu-Ag project approximately 40 km to the northwest. A
deep-penetration Quantec Geophysics Titan-24 survey to assess the porphyry
potential of this monzonite body is planned for the early summer 2011 and
additional work will further investigate and delineate the two significant
geochemical anomalies and a mineralized hydrothermal breccia newly discovered in
2010 by Dawson Gold (See Dawson News Release dated January 26, 2011).
Historic(i) assay results at the Toro Property include 8.23 m of 1.03 g/t Au
(DDH T69-02) and 7.0 m of 1.75 g/t Au (DDH T70-14). Gold assay results from
drilling in 2010 were released in December, 2010 (See Dawson News Release dated
December 17, 2010). Dawson Gold has recently re-examined these assays with
respect to the silver values from these previously released intersections. Based
on this work management has re-calculate a gold-equivalent value based on a 40:1
valuation of silver to gold. The results from this re-assessment are presented
below:
(i)While the above historical results on the Main zone and Nit occurrence are
considered relevant, the reliability of the historic work is unknown. Dawson
Gold intends to verify the above results, and confirmation work may produce
results that differ substantially from the historic results.
2010 Diamond Drilling Summary Table with Ag Credit+
---------------------------------------------------------------------------
TT-101
---------------------------------------------------------------------------
Au Eq
Au (g/t) Au (g/t) Ag (g/t) (g/t)(ii)
From To Width ICP Fire (ii) ICP Au + Ag
---------------------------------------------------------------------------
23.6 25.9 2.3 1.39 1.39 64.3 3.12
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TT-102
---------------------------------------------------------------------------
Au (g/t) Au (g/t) Au Eq (g/t)
From To Width ICP Fire Ag (g/t) ICP Au + Ag
---------------------------------------------------------------------------
146.5 148.4 1.9 0.408 0.582 1.3 0.617
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TT-103
---------------------------------------------------------------------------
Au (g/t) Au (g/t) Au Eq (g/t)
From To Width ICP Fire Ag (g/t) ICP Au + Ag
---------------------------------------------------------------------------
147.5 149 1.5 1.41 1.42 64.3 3.16
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TT-104
---------------------------------------------------------------------------
Au (g/t) Au (g/t) Au Eq (g/t)
From To Width ICP Fire Ag (g/t) ICP Au + Ag
---------------------------------------------------------------------------
73 164.5 91.5 0.316 0.330 7.45 0.523
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
73 92.5 19.5 0.432 0.433 11.8 0.753
---------------------------------------------------------------------------
137 149.5 12.5 0.553 0.677 11 0.980
---------------------------------------------------------------------------
137 138.5 1.5 1.13 2.54 3.4 2.63
---------------------------------------------------------------------------
147.6 149.7 2.1 1.64 1.41 34.9 2.32
---------------------------------------------------------------------------
148.7 149.7 1 2.73 2.28 56.9 3.75
---------------------------------------------------------------------------
137 164.5 27.5 0.427 0.476 2.1 0.640
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TT-105
---------------------------------------------------------------------------
Au (g/t) Au (g/t) Au Eq (g/t)
From To Width ICP Fire Ag (g/t) ICP Au + Ag
---------------------------------------------------------------------------
70 72 2 0.599 0.511 35 1.46
---------------------------------------------------------------------------
111.2 112.1 0.9 0.927 0.813 10.2 1.09
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TT-106 - No significant results
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TT-107
---------------------------------------------------------------------------
Au (g/t) Au (g/t) Au Eq (g/t)
From To Width ICP Fire Ag (g/t) ICP Au + Ag
---------------------------------------------------------------------------
164.6 166.1 1.5 0.960 0.896 2 0.950
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TT-108
---------------------------------------------------------------------------
Au (g/t) Au (g/t) Au Eq (g/t)
From To Width ICP Fire Ag (g/t) ICP Au + Ag
---------------------------------------------------------------------------
79.2 93 13.8 0.453 0.442 6.94 0.629
---------------------------------------------------------------------------
including
---------------------------------------------------------------------------
79.2 82.3 3.1 1.02 1.02 5.45 1.17
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
79.2 80.8 1.6 1.47 1.49 5.3 1.64
---------------------------------------------------------------------------
(ii)Previously unreleased data
+All core and soil samples were processed and analyzed by Acme Analytical
Labs of Vancouver, B.C. an ISO 9001 certified laboratory. The samples
were all analyzed by ACME ICP-MS package 1DX15. In addition, a 30 gram
Fire Assay for Gold ACME package 3B was run on each of the soil and core
samples from the 2010 program.
Dawson Gold also announces that Mr. Michael Collins, P.Geo. has resigned as
President and from the Board of Directors effective immediately. The Board of
Directors wishes to acknowledge the many contributions that Mr. Collins has made
to the Company, and wants to thank him for his participation and wish him
success in his future endeavors. Until a new President can be named, Paul D.
Gray, P.Geo. and CEO will assume the responsibilities of President of the
Company.
The Technical data contained in this news release has been reviewed and approved
by Dawson Gold CEO Paul D. Gray, P.Geo., a qualified person under NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Paul D. Gray, P.Geo. CEO
DAWSON GOLD CORP.
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