Emerick to Commence Drilling at Grew Creek Project
24 July 2009 - 2:05AM
Marketwired
Mr. Simon Ridgway, the Chairman of Emerick Resources Corp. (TSX
VENTURE: ERC) is pleased to announce that drilling is about to
begin at the Company's Grew Creek epithermal gold project in
central Yukon Territory close to the towns of Faro and Ross River.
The drill program will consist of at least 1,000 metres in 6
holes, testing various geochemical targets developed by Al Carlos
at the Rat Creek, Sleeper and Barium zones, and as recommended by
Robert W. Stroshein, P. Eng. (Yukon) of Protore Geological Services
in Whitehorse in a May 2008 NI43-101 report on the project.
Gold mineralization occurs as quartz-vein and vein stock-work
within permeable felsic pyroclastic tuffs contained within a graben
structure formed by the Tintina Fault System.
Historical drilling at Grew Creek by various companies (the
results of which have not been verified by Emerick and should
therefore not be relied upon) returned a number of high-grade
intersections from mineralization hosted within interpreted vent
breccias, including:
- Hole GC-88-29: 33.0 metres grading 22.07 g/t Au and 144.4g/t
Ag.
- Hole GC-96-196: 17.0 metres grading 28.55 g/t Au and 22.8 g/t
Ag.
- Hole GC-87-39: 6.0 metres grading 54.9 g/t Au and 54.5 g/t
Ag.
(Note: The widths reported are the length of the drill core
intersection as the true orientation of the mineralization has not
been confidently established.)
The mineralization is typical of epithermal-type deposits, with
a strongly developed alteration system, and the gold occurs as
micron sized grains with a quartzadularia vein and vein stock work.
The mineralization is steeply dipping and has been disrupted by
post mineralization faulting related to ongoing movement of the
Tintina Fault System. Banded veins and vein stock work
mineralization appears to preferentially fill extensional openings
and soak into the enclosing permeable tuffs.
Emerick has an option to acquire 100% of the Grew Creek project
from Allen Carlos, subject to a 3-per-cent net smelter royalty.
Under the terms of the agreement, the Company will acquire a 100%
interest in the property by paying the optionor $350,000, issuing
300,000 shares of the Company and incurring exploration
expenditures of $2.75-million, all over a 52-month period. $25,000
and 50,000 shares have been paid to date.
Qualified Person
David Cass, a member of the Association of Professional
Engineers and Geoscientists of British Columbia, and a Qualified
Person in accordance with National Instrument 43-101, has verified
that the technical information in this release is an accurate
summary of the information provided to Emerick.
ON BEHALF OF THE BOARD
Simon Ridgway, Chairman
Shares Issued: 11.1-million
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Emerick Resources Corp. Ralph Rushton Investor
Relations 604-801-5432 Emerick Resources Corp. Erin Ostrom Investor
Relations 604-801-5432 604-662-8829 (FAX) www.emerick.ca
Eros Resources (TSXV:ERC)
Historical Stock Chart
From May 2024 to Jun 2024
Eros Resources (TSXV:ERC)
Historical Stock Chart
From Jun 2023 to Jun 2024