International Wayside Gold Mines Ltd.: Drill Program Discovers 250 Foot Replacement Style Mineralized Zone
07 July 2009 - 12:26AM
Marketwired
The Board of Directors of International Wayside Gold Mines Ltd.
(the "Company") (TSX VENTURE: WYG)(FRANKFURT: IWUB) announces that
results of ten surface diamond drill holes totaling 1,761.2m
(5,778.0 feet) on the Goldfinch Zone, 700 feet mine grid west of
the proposed Bonanza Ledge mine on Barkerville Mountain were
returned with some encouraging gold values (Table 1). Details of a
new phase of drilling at Barkerville Mountain beginning today (July
6, 2009), are forthcoming.
Targeting a Bonanza Ledge style of pyrite replacement gold
mineralization, the drill program was designed using geo-statistics
or geo-mathematics, which comprehensively considers geology
(lithology, structure, alteration and mineralization), geochemistry
(soil anomalies) and geophysics (IP, SP and magnetic surveys) on
and between the Goldfinch and Bonanza Ledge Zones at Barkerville
Mountain. Comparisons of the two zones show their similarity is
over 98%.
Most of the drill holes successfully intercepted fine-grained
pyrite replacement zones in the Lowhee Unit, which hosts the
Bonanza Ledge gold deposit. The drill results prove that large
replacement style mineralized zones containing high-grade fine
grained pyrite up to 250 feet thick exist in the Goldfinch Zone. A
geological evaluation is underway due to the fact that not all of
the pyrite replacement bodies carry gold.
An additional purpose of the drilling program is to have a
better understanding of the geology at depth, the relationship
between the gold mineralization zone and the pyrite replacement
mineralization, pyrrhotite halo and fuchsite alteration, and the
mineralization intensity at depth. In order to realize this, three
long drill holes up to 356.0m (1,168 feet) each were conducted.
Further drilling will take place between the Lowhee Fault and
Goldfinch Fault in the coming exploration season targeting Bonanza
Ledge and quartz vein style of gold mineralization. This area has
approximately the same geological setting as that of Bonanza Ledge
gold deposit.
Table 1. SURFACE DRILL RESULTS
---------------------------------------------------------------------------
From To Width Au Ag
# DDH Depth ------------------------------------------------------
(feet) feet feet m g/T oz/t g/T
---------------------------------------------------------------------------
---------------------------------------------------------------------------
1 BC08-01 516.0 26.0 36.0 10.0 3.0 0.24 (0.28) 0.007 (0.008) N/S
(i)
--------------------------------------------------
36.0 40.3 4.3 1.3 2.24 (2.44) 0.065 (0.071)
--------------------------------------------------
46.0 55.6 9.6 2.9 0.15 0.004
--------------------------------------------------
55.6 60.2 4.6 1.4 0.66 (0.67) 0.019 (0.020)
--------------------------------------------------
66.0 69.0 3.0 0.9 0.42 0.012
--------------------------------------------------
87.0 88.2 1.2 0.4 1.27 (1.37) 0.037 (0.040)
-------------------------------------------------------
184.3 186.0 1.7 0.5 N/S(i) 1.4
------------------------ ---
332.5 333.6 1.1 0.3 1.0
-------------------------------------------------------
386.0 387.7 1.7 0.5 0.10 0.0 N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
2 BC08-02 456.0 12.9 29.1 16.2 4.9 0.15 0.005 N/S
(iii) (iii)
-------------------------------------------------------
29.1 30.1 1.0 0.3 34.3 (35.8) 1.000 (1.044) 1.2
-------------------------------------------------------
30.1 39.7 9.6 2.9 0.15 0.004 N/S
(iii) (iii)
-------------------------------------------------------
39.7 41.4 1.7 0.5 1.24 (1.28) 0.036 (0.037) N/S
-------------------------------------------------------
41.4 57.5 16.1 4.9 0.14 0.004 N/S
(iii) (iii)
-------------------------------------------------------
57.5 66.0 8.5 2.6 2.64 (2.48) 0.077 (0.072) N/S
-------------------------------------------------------
66.0 69.9 3.9 1.2 0.74 0.021 N/S
(iii) (iii)
-------------------------------------------------------
89.7 96.0 6.3 1.9 2.54 (2.68) 0.074 (0.078) N/S
-------------------------------------------------------
96.0 103.1 7.1 2.2 0.10 0.003 N/S
-------------------------------------------------------
106.0 114.0 8.0 2.4 0.64 0.019 N/S
-------------------------------------------------------
196.0 196.7 0.7 0.2 N/S 1.1
------------------------ ---
371.5 376.0 4.5 1.4 3.6
---------------------------------------------------------------------------
---------------------------------------------------------------------------
3 BC08-03 206.0 N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
4 BC08-04 336.0 38.1 76.0 37.9 11.6 0.16 0.004 N/S
(iii) (iii)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
5 BC08-05 406.0 91.3 91.8 0.5 0.2 N/S 1.1
-------------------------------------------------------
183.1 186.0 2.9 0.9 2.38 (2.49) 0.069 (0.073) N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
6 BC08-06 426.0 70.3 76.0 5.7 1.7 1.32 0.039 N/S
-------------------------------------------------------
146.0 156.0 10.0 3.0 0.18 0.005 N/S
-------------------------------------------------------
336.0 346.0 10.0 3.0 0.10 0.003 N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
7 BC08-07 405.0 127.3 128.0 0.7 0.2 0.13 0.004 N/S
-------------------------------------------------------
155.0 165.0 10.0 3.0 0.10 0.003 N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
8 BC08-08 1,006.0 306.0 308.4 2.4 0.7 0.12 0.004 N/S
-------------------------------------------------------
396.0 406.0 10.0 3.0 0.18 0.005 N/S
-------------------------------------------------------
476.0 496.0 20.0 6.1 0.30 0.009 N/S
(iii) (iii)
-------------------------------------------------------
506.0 516.0 10.0 3.0 0.30 0.009 N/S
-------------------------------------------------------
526.0 546.0 20.0 6.1 0.12 0.004 N/S
(iii) (iii)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
9 BC08-09 856.0 96.0 106.0 10.0 3.0 0.15 0.004 N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
10 BC08-10 1168.0 205.0 225.0 20.0 6.1 0.13 0.004 N/S
(iii) (iii)
---------------------------------------------------------------------------
Note: (i) assay(repeat//resplit); (ii) N/S: no significant assay;
(iii) weighted
The Company initiated operations in the Cariboo District in 1994
and since that time has focused on the exploration and development
of its gold properties. Mineral tenures in the Historic Cariboo
Goldfields encompass approximately 1,065 square km (106,484
hectares) over a 60 km long by 20 km wide belt. In the Barkerville
Gold Camp, 101 creeks have reported placer gold production.
Recorded gold production from the area totals more than 3.8 million
ounces, including an estimated 2.64 million ounces from placer
mining and 1.23 million ounces from lode mining.
Wayside is in the process of acquiring the QR Mine and 900 tonne
per day QR Mill, which was fully operational until February 2009
(now on care and maintenance). The QR Mill is a CIP mill designed
for an output of 70,000 ounces of gold per annum for that location.
The mill is 110 km by road from Wayside's Cariboo Gold Project and
proposed Bonanza Ledge Mine.
The technical information in this News Release has been reviewed
and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified
person as defined in National Instrument 43-101.
On Behalf of the Board of Directors
J. Frank Callaghan, President
Neither 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.
Contacts: International Wayside Gold Mines Ltd. Andrew H. Rees
Director 604 669-6463 or Toll Free: 1-800 663-9688 604 669-3041
(FAX) www.wayside-gold.com
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