Northaven Announces Exciting Geophysical Results for Its Allco Gold-Silver Property and Investor Conference Call
11 November 2011 - 6:53AM
Marketwired
NORTHAVEN RESOURCES CORP. (TSX VENTURE:NTV) is pleased to announce
that interpretation of leading-edge ZTEM airborne geophysical
survey data on its Allco Gold-Silver property from Condor
Consulting of Lakefield, Colorado.
The ZTEM data, as interpreted, confirms a strong correlation
between the six known mineralized surface showings on the Company's
13,000 hectare Revelstoke property, and three or more pronounced
sub-surface conductive linear events (linears) which extend over
large distances.
The most westerly linear (West Linear), which transects the
property for a distance of over 16 kilometers, correlates the
location and relationship of the Huacan J&L showing (6,905,800
tonnes measured+indicated+inferred containing 1.27 million ounces
gold, 12.98 million ounces silver, 3.39% zinc and 2.18% lead;
43-101 compliant Report dated June, 2011) located 3.2 kilometers
northwest of the Allco Property with the former Mastodon Mine
(15,322 tonnes produced of 6.2 grams silver, 9.5 % zinc, and 0.5%
lead,), the Lead King, the Big Slide and the Slide #3 showings, all
of which are located within the Allco Property. All of these
polymetallic (gold, silver, lead, zinc and copper) showings appear
to be formed by two successive mineralizing pulses, with first
being a lead-zinc-silver pulse, and all appear to be strongly
associated with the geophysical anomaly.
The easternmost linear (East Linear), which transects the
property for over a distance of 11 kilometers, correlates the
location and relationship of the former Stannex Mine (651,200 tons,
65 g/t silver, 1.1% copper, 1.26% zinc and 2.66% lead) and Woolsey
(Regal Silver) Mine with the Allco Silver Workings (213 tonnes of
concentrates grading 1.61.g/t gold, 1,637.1 g/t silver and 36.69%
lead) and indicates a number of prospective targets in the
extension of the linear north of the Allco Silver and in a wide
zone of apparent conductivity west of the area between the Stannex
Mine and the Allco Silver Working.
Running in a slightly northeasterly direction and transecting
the Property over a distance of about 7 kilometers is a third
(Central) linear which has not been identified at surface.
All three linears appear to have a correlation with a mapped
magnetic pseudo-isosurface at depths of 1- 4 kilometers, which may
represent either the surface of an intrusive event or the surface
of the plumbing system that delivered polymetallic mineralization
to the various showings. All of the known showings have a definite
spatial relationship to this pseudo-surface. There are a large
number of similar occurrences of that spatial correlation in the
Central and Eastern linears that have not been tested.
The quality of the geophysical information provided by the
Geotech ZTEM system, as interpreted, has provided the Company with
a significant number of good quality anomalies that possess large
volumetric potential in close proximity to areas of known
mineralization. The Company will be following up this
interpretation with a vigorous program of prospecting and drilling
in the new year.
The Company plans to host a web-based dial-in conference call
with Ken Witherly of Condor Consulting to review this data in more
detail on Thursday, November 10, 2011 at 2:00 PST. To register,
click on this link:
http://www.northavenresources.com/allco-results/ and follow the
instructions on the webpage.
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 certain factors, many of which are beyond
Northaven's control, which may cause actual results or performance
to differ materially from those currently anticipated in such
statements.
Quote: "Geo-tech's leading-edge technology, combined with
Condor's processing and interpretation ability, lets us look up to
2000 meters below the surface," says Malcolm Fraser. "What we see
confirms much of what we previously suspected about this property,
and also helps answer a number of questions about the possible
plumbing system that gave rise to the mineralization at
surface."
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
696-3608malcolm@northavenresources.com Northaven Resources Corp.
Allen Leschert CEO 604
696-3600allen@northavenresources.comwww.northavenresources.com
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