Meadow Bay Gold Reports First Assays From Atlanta Gold Mine in Nevada
23 August 2011 - 4:58AM
Marketwired
Meadow Bay Gold Corporation ("Meadow Bay Gold") (TSX VENTURE:
MAY)(OTCQX: MAYGF) is pleased to report assay results from its
first two core drill holes of our confirmatory drilling program at
the Atlanta Gold Mine, Lincoln County, Nevada.
The purpose of the first two drill holes was to test for
thickness and grade of gold and silver mineralization beneath the
past producing Atlanta Pit which was closed in 1985 due to low gold
prices. The mineralization occurs in a jasperoid fault breccia
between overlying Tertiary volcanic rocks and Paleozoic sedimentary
rocks.
Below is a table summarizing the drill results:
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Drill Hole Area Total From To Interval eAu
Depth (m) (m) (m) (m) g/t
---------------------------------------------------------------------
DHRC-11-01C Atlanta Pit 123.14 74.68 96.01 21.33 2.41
---------------------------------------------------------------------
DHRC-11-02C Atlanta Pit 180.74 86.87 105.16 18.29 2.06
---------------------------------------------------------------------
The purpose of this initial drilling program is to confirm the
historic indicated resource that exists on the project. Both
Kinross and Gold Fields had extensive drilling programs at Atlanta
in the 1990s. The first 6 core holes will either twin existing
holes or drill below remaining mineralization in the historic open
pit. Consequent core and RC step-out and exploration drilling will
test both fault-controlled mineralization to the north as well as
intrusive-hosted mineralization to the southwest of the pit. Meadow
Bay Gold has engaged the firm Gustavson Associates, LLC of Boulder,
Colorado to review the current and historic data with a view to
preparing a updated estimate of the gold and silver resources
pursuant to National Instrument 43-101.
To view map that shows the drill hole locations for the current
round of drilling and cross sections, visit the following link:
http://media3.marketwire.com/docs/DrillHoleMapandCrossSections.pdf
Robert Dinning, CEO commented, "We are happily surprised by
these first results from our drill program at the Atlanta Gold
Mine. An additional four holes in the first program are currently
being analyzed at ALS Chemex with assays results expected within 4
to 6 weeks."
Bill Reed, a Qualified Person as defined by National Instrument
43-101, and Director of Meadow Bay Gold has reviewed the contents
of this press release. An ongoing QA/QC program is being employed
including blank, duplicate and reference standards with samples are
being assayed at the ALS Chemex lab in Elko Nevada, by fire assay
with a gravimetric finish. Meadow Bay Gold is focused on developing
the former producing Atlanta Gold Mine in Nevada, USA. Drilling
continues as does reconnaissance exploration on recently staked
claims to the northwest and southeast.
Meadow Bay Gold has retained Goal Capital Inc. of Orange County,
California to assist in developing and expanding its communications
with the US investment community through a comprehensive investor
relations program for a monthly consulting fee of US$7,000. Meadow
Bay Gold has also granted Goal Capital 250,000 stock options
vesting over a one year period exercisable for a period of five
years at a price of $1.03 per share.
Contacts: Meadow Bay Gold Corporation Robert Dinning CEO
604-907-0901 www.meadowbaygold.com Launch IR Matthew Harrington
613-882-7467 Goal Capital Danny Gravelle 949-481-5396
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