VANCOUVER,
Nov. 3, 2011 /PRNewswire/ - Jet
Gold Corp. (TSXV: JAU) today announced the completion of the
phase-one drilling program at its Big Hammer property near
Terrace, BC. Mineralized
core from the 830-meter Big Hammer gold drilling program has been
shipped to AGAT Laboratories' facility in Missassuga, ON for
assay. Results are expected by mid-November.
Trench samples at the original "380" roadcrop with up to 93 g/t
gold (see September 28th
press release) were followed up in October by seven close-spaced
drill holes (20-meter centers) and four step-out holes at the Big
Hammer gold property. Quartz -sulfide-telluride vein and
shear mineralization within quartz-chlorite alteration envelopes
the low-angle "380 Fault" at Big Hammer, extending 260 meters
horizontally and at least 120 meters down structural dip from
outcrop.
Five new surface grab samples 200 meters east of the original
"380" roadcrop returned the following results - Gold: 29.9 g/t,
20.9 g/t, 17.7 g/t, 9.9 g/t and 0.2 g/t; Silver: 429 g/t, 284 g/t,
335 g/t, 174 g/t and 15.7 g/t; Tellurium: 314 g/t, 213 g/t, 145
g/t, 104 g/t and 5.2 g/t.
Donald G. Strachan, JetGold's
Consulting Geologist and QP at Big Hammer, says " I am grateful for
the geologic continuity of structure, alteration and mineralization
seen in every hole to date, and am confident this structural
horizon will be extended by future drilling phases. Banded
quartz-sulfide-telluride vein intercepts up to one meter are
present in seven of the 11 holes drilled through the
quartz-chlorite-flooded 380 Fault. Multiple
quartz-sulfide-telluride vein intercepts within the 380 Fault were
encountered by four of the 11 holes. Substantial vein thicknesses
and grades are reasonable expectations along the 380 Fault at Big
Hammer."
Further information, including assay results, will be provided
upon receipt from AGAT.
JetGold's disclosures of a technical or scientific nature in
this news release have been reviewed and approved by Donald G. Strachan (M.Sc, CPG), JetGold's
Consulting Geologist, who serves as a Qualified Person under the
definition of National Instrument 43-101.
JETGOLD
JetGold is a Canadian resource exploration company
actively developing gold, silver, copper, zinc, molybdenum and
tellurium mineral resource properties in British Columbia, Canada. The company is
currently undertaking exploration of two precious metal properties
[Big Hammer and Silver Bay] and
one base metal property [Kshish].
Big Hammer |
|
Gold/Silver/Tellurium (Au/Ag/Te) property located 13 km
southeast of Terrace |
Silver Bay |
|
Silver/Zinc (Ag/Zn) property located in west central
BC |
Kshish |
|
Copper/Molybdenum (Mo/Cu) property located 15 km northeast
of Terrace |
JetGold is strategically investing in the Terrace and Smithers mining districts of British Columbia based on excellent road
access, abundant power and water supply and close proximity to CN
Rail lines and the Fairview Terminal deep water container port in
Prince Rupert. The port is an
important part of the Government of Canada's "Asia-Pacific Gateway &
Corridor Initiative" and the Province of British Columbia's "Pacific Gateway"
strategy.
Additional information at: www.jetgoldcorp.com
On behalf of the Board of Directors,
Jet Gold Corp. (
TSX.V: JAU)
"Brad J. Moynes"
Brad J.
Moynes
President&CEO
Forward Looking Information:
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.
Statements containing forward-looking
information express, as at the date of this news release, the
Company's plans, estimates, forecasts, projections, expectations or
beliefs as to future events or results and are believed to be
reasonable based on information currently available to the
Company.
Forward-looking statements and information
are based on assumptions that financing and personnel will be
available when required and on reasonable terms, and all necessary
regulatory approvals and shareholder approval will be obtained,
none of which are assured and are subject to a number of other
risks and uncertainties
There can be no assurance that
forward-looking statements will prove to be accurate. Actual
results and future events could differ materially from those
anticipated in such statements. Readers should not place undue
reliance on forward-looking information.
SOURCE Jet Gold Corp.