Northaven Geophysical Surveys Underway
19 August 2011 - 12:15AM
Marketwired
Northaven Resources Corp. (TSX VENTURE: NTV) is pleased to announce
that Geotech Limited of Aurora, Ontario, has commenced its
helicopter airborne ZTEM survey of the Company's ALLCO property
located approximately 27 km northeast of Revelstoke. With stable
clear dry weather in the eastern BC Mountains, it is anticipated
that 2-3 days will be required to complete the data acquisition
phase of the program. After completing the computation of the
acquired data, Geotech will forward the final data to NTV and to an
independent consulting group for in-depth interpretation of the
results.
The Allco property forms part of the early Cambrian continental
accretion sequence of northwest trending sedimentary and volcanic
rocks that have been compressed, faulted and folded and
subsequently intruded by later (Cretaceous) intermediate phase
intrusives. Metamorphic actions have altered the rock sequence to
metasediments and metavolcanics with apparent remobilization and
emplacement of sulphide mineralization in the form of gold-bearing
chalcopyrite, pyrrohotite and arsenopyrite and silver-bearing
galena, sphalerite and tetrahedrite.
Within this northwest-trending rock sequence, a series of mixed
strata-bound and vein mineralized occurrences can be traced for
over 65 kilometers from the former Goldstream copper-gold mine at
the northwest end to the former Stannex silver, zinc, tungsten mine
at the southeast end. Approximately 15 kilometers of this band lay
within the Company's 13,331 hectare Allco property, centered about
the former Allco silver mine which in 1936-1937 produced 213 tonnes
of concentrates containing 11 troz gold (1.55 g/t), 11,211 troz
silver (1,637 g/t) and 173,159 lbs of lead (36.9%). 1988 sampling
in the Allco silver mine area showed the mineralization to extend
over an envelope 3,000 meters northwest-southeast, by 500 meters in
width.
Mineralization on the J&L Property which lies approximately
8 kilometers northwest from the Allco property within the same band
is reported by P&E Mining Consultants Inc., 16 May, 2011, as
being comprised of a nearly tabular northwest-striking and
northeast-sipping shear zone (the Main Zone) of approximately 2 to
16 meters thickness comprised of arsenopyrite, chalcopyrite, galena
and sphalerite, containing a measured plus indicated resource of
2,367,700 metric tonnes grading 6.81 g/t gold, 66.95 g/t silver,
2.21% lead and 4.16% zinc, overprinting a pre-existing silver,
lead, zinc deposit (the Yellow Jacket Zone).
NTV is focused on evaluation of geologically related gold and
silver occurrences within the province of British Columbia that
have the potential of aggregating more than one million troy ounces
of gold or silver equivalents.
On behalf of the Board of Directors of NORTHAVEN RESOURCES
CORP.
Malcolm B. Fraser, President
This news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. Such
forward-looking statements involve inherent risks and uncertainties
and are subject to factors, many of which are beyond Northaven's
control, and may cause actual results or performance to differ
materially from those currently anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Northaven Resources Corp. Malcolm Fraser President 604
696.3608 malcolm@northavenresources.com Northaven Resources Corp.
Allen Leschert CEO 604 696.3600 allen@northavenresources.com
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