Wayside Discovers New Zone NW of the Proposed Cariboo Gold Quartz Open Pit With Drill Intercept of 13.5m of 5.06 g/T Gold
19 January 2010 - 1:01AM
Marketwired
International Wayside Gold Mines Ltd. ("Wayside", the
"Company")(TSX VENTURE: WYG)(FRANKFURT: IWUB) wishes to announce
that it has discovered a new zone, outside and north west of the
proposed Cariboo Gold Quartz open pit mine on Cow Mountain, of
replacement-like gold mineralization in a rock type not known
before to carry gold within this camp. The assay results from the
Company's 2009 drill campaign follow below. Highlights of these
assays include:
-- Drill hole CM09-07 intercepted replacement-like gold mineralization:
-- 13.5 meters (44.2 feet) of 5.06 g/T (0.148 oz/t) gold
-- Drill hole CM09-08 intercepted both replacement and quartz vein style
gold mineralization:
-- 10.1 meters (33.3 feet) of 1.51 g/T (0.044 oz/t) gold
The new replacement-like mineralization found in holes CM 09-06,
07, 08 and 11 is distinctly different than that found in the NI
43-101 resource at the proposed open pit at Cow Mountain and bears
similarities to, yet different from, the higher-grade replacement
ore found on the adjacent Island Mountain and Barkerville Mountain
(the proposed Bonanza Ledge mine). While quartzite carrying
lower-grade pyrite (with less gold associated with it) is common in
the camp, drill hole CM09-07 carrying only 1-3% disseminated pyrite
and/or blebs, for the first time returned as high 49.5 g/T gold in
the pure grey blocky quartzite of Rainbow 1 Sub-unit at the
Baker-Rainbow contact - indicating the potential discovery of a
fourth style of gold mineralization on the Company's project.
Further drilling will be conducted in 2010 to gain a better
control and understanding of the continuity of both the
replacement/replacement-like and the quartz vein types of
mineralized body intercepted by drill hole CM09-07, CM09-08 and
other related drill holes mentioned above in the northwest Cow
Mountain area.
The 2009 drill program on Cow and Barkerville Mountains targeted
both the replacement and quartz vein types of gold mineralization.
In total, 13 diamond drill holes (of which, 11 are on Cow Mountain
and 2 on Barkerville Mountain) have been completed in the 2009
calendar year. Drill holes CM09-04 through CM09-11 are the first
drill holes that the Company has done in the northwest Cow Mountain
area, outside of the proposed pit.
About International Wayside Gold Mines
The Company has been developing its Cariboo Gold Project in
Barkerville, B.C., which encompasses (from northwest to south east)
the former producing Hardscrabble Tungsten Mine, Mosquito Creek
Gold Mine (now on care and maintenance), Aurum Mine, Island
Mountain Mine, Cariboo Gold Quartz Mine, Bonanza Ledge (proposed
mine), the Cariboo Thompson Gold & Silver Mine and the Cariboo
Hudson Mine. The Company commenced operations in the Cariboo
District in 1994 and since that time has focused on the exploration
and development of its gold properties. The Company's mineral
tenures in the Historic Barkerville Gold Camp encompass
approximately 1,065 square km (106,484 hectares) over a 60km by
20km wide belt. In the Historic 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. On December 16, 2009, the Company entered
into an agreement by which it will acquire the QR Mine and Mill,
110km by road from its Bonanza Ledge proposed open pit gold
deposit.
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.
Table 1. SUMMARY OF ASSAYS OF 2009 DRILL HOLES
----------------------------------------------------------------------------
Drill Pad # Drill Hole From To Width Gold
-----------------------------------------------
Feet Feet g/T oz/t
----------------------------------------------------------------------------
----------------------------------------------------------------------------
A 1 CM09-04 269.6 276.0 6.4 0.16 0.005
-----------------------------------------------
301.0 306.0 5.0 0.10 0.003
----------------------------------------------------------------------------
B 2 CM09-05 42.5 48.4 5.9 0.40 0.012
-----------------------------------------------
90.9 103.7 12.8 0.39 0.011
-----------------------------------------------
149.6 176.0 26.4 0.19 0.006
-----------------------------------------------
286.0 305.3 19.3 0.43 0.013
-----------------------------------------------
including
-----------------------------------------------
295.5 298.9 3.4 1.13 0.033
-----------------------------------------------
312.3 316.0 3.7 0.14 0.004
-----------------------------------------------
325.5 333.0 7.5 0.24 0.007
----------------------------------------------------------------
3 CM09-06 36.0 66.0 30.0 0.85 0.025
-----------------------------------------------
including
-----------------------------------------------
46.8 47.4 0.6 25.3 0.738
-----------------------------------------------
110.0 120.7 10.7 1.07 0.031
-----------------------------------------------
including
-----------------------------------------------
114.7 116.3 1.6 6.73 0.196
-----------------------------------------------
170.6 201.0 30.4 0.97 0.028
-----------------------------------------------
including
-----------------------------------------------
185.8 188.8 3.0 8.45 0.246
----------------------------------------------------------------------------
C 4 CM09-07 97.5 106.2 8.7 1.18 0.034
-----------------------------------------------
including
-----------------------------------------------
98.3 98.9 0.6 16.2 0.472
-----------------------------------------------
236.0 248.4 12.4 0.33 0.010
-----------------------------------------------
346.0 356.0 10.0 0.56 0.016
-----------------------------------------------
361.8 406.0 44.2 5.06 0.148
-----------------------------------------------
including
-----------------------------------------------
361.8 367.4 5.6 1.70 0.050
-----------------------------------------------
378.2 379.7 1.5 21.1 0.615
-----------------------------------------------
382.5 385.5 3.0 49.5 1.444
-----------------------------------------------
390.1 393.9 3.8 4.16 0.121
-----------------------------------------------
400.3 406.0 5.7 2.40 0.070
----------------------------------------------------------------
5 CM09-08 194.0 196.8 2.8 18.5 0.540
-----------------------------------------------
210.4 219.4 9.0 0.48 0.014
-----------------------------------------------
224.5 246.0 21.5 0.11 0.003
-----------------------------------------------
316.0 318.1 2.1 0.41 0.012
-----------------------------------------------
384.5 417.8 33.3 1.51 0.044
-----------------------------------------------
including
-----------------------------------------------
384.5 392.7 8.2 4.21 0.123
-----------------------------------------------
412.0 417.8 5.8 2.40 0.070
----------------------------------------------------------------
6 CM09-09 96.0 112.9 16.9 0.18 0.005
-----------------------------------------------
190.6 223.4 32.8 0.99 0.029
-----------------------------------------------
including
-----------------------------------------------
198.7 206.0 7.3 3.16 0.092
-----------------------------------------------
516.0 536.0 20.0 0.50 0.014
-----------------------------------------------
including
-----------------------------------------------
520.7 526.0 5.3 1.68 0.049
-----------------------------------------------
546.0 556.0 10.0 0.91 0.027
-----------------------------------------------
including
-----------------------------------------------
553.0 556.0 3.0 2.25 0.066
-----------------------------------------------
646.0 686.0 40.0 0.42 0.012
----------------------------------------------------------------------------
D 7 CM09-10 183.9 186.0 2.1 1.12 0.033
----------------------------------------------------------------
8 CM09-11 156.0 177.8 21.8 0.39 0.011
-----------------------------------------------
including
-----------------------------------------------
166.0 166.6 0.6 8.32 0.243
-----------------------------------------------
181.1 224.4 43.3 0.25 0.007
-----------------------------------------------
234.5 246.0 11.5 1.82 0.053
-----------------------------------------------
including
-----------------------------------------------
234.5 239.6 5.1 3.50 0.102
-----------------------------------------------
306.0 316.0 10.0 0.11 0.003
-----------------------------------------------
356.0 381.0 25.0 0.56 0.016
----------------------------------------------------------------------------
E 9 LH09-01 282.0 298.3 16.3 0.20 0.006
-----------------------------------------------
439.4 466.0 26.6 0.30 0.009
-----------------------------------------------
including
-----------------------------------------------
454.5 456.0 1.5 1.43 0.042
-----------------------------------------------
468.0 506.0 38.0 0.53 0.015
-----------------------------------------------
including
-----------------------------------------------
476.4 480.4 4.0 2.60 0.076
----------------------------------------------------------------------------
F 10 LH09-02 12.0 26.0 14.0 0.19 0.006
-----------------------------------------------
81.6 96.7 15.1 0.44 0.013
-----------------------------------------------
212.4 231.0 18.6 0.14 0.004
-----------------------------------------------
287.9 294.7 6.8 0.54 0.016
-----------------------------------------------
441.2 453.0 11.8 1.13 0.033
-----------------------------------------------
including
-----------------------------------------------
441.2 446.0 4.8 2.45 0.071
-----------------------------------------------
457.0 479.2 22.2 0.16 0.005
----------------------------------------------------------------------------
On Behalf of the Board of Directors
J. Frank Callaghan, President
This news release contains forward-looking statements regarding
the timing and content of upcoming programs. Actual results may
differ materially from those currently anticipated in such
statements.
The TSX Venture Exchange has neither approved nor disapproved of
the information contained herein.
Contacts: International Wayside Gold Mines Ltd. Andrew H. Rees
Director 604 669-6463 or 1-800-663-9688 www.wayside-gold.com
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