Ryan Gold Announces Drill Results on Flume Property
06.11.2012 | Marketwired
Toronto, Nov. 6, 2012 - Ryan Gold Corp. (RYG-TSXV, "Ryan Gold" or the "Company") announces drill results from the nine diamond drill hole (2,307m) program on the Flume Property, where the company is in the process of earning a 51-per-cent interest from Bearing Resources Ltd. (BRZ-TSXV).Summary of Drill Hole Results - Flume
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Drill Hole NORTHING EASTING AZIMUTH INCL.
(#) (UTM) (UTM) (degrees) (degrees)
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FL12-001 547694 7037166 132 -50
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FL12-002 547903 7036932 131 -50
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FL12-003 548353 7036552 131 -50
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FL12-004 548589 7036308 132 -50
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FL12-005 548806 7036087 131 -50
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FL12-006 549336 7036125 132 -50
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FL12-007 549470 7035599 129 -50
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FL12-008 548405 7036300 45 -50
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FL12-009 548354 7036484 45 -50
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Drill Hole MINERALISATION Au
(#) FROM TO Interval (g/t)
(m) (m) (m)
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FL12-001 180.00 181.00 1.00 1.23
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FL12-002 No Significant Results
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FL12-003 82.30 83.00 0.70 1.42
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89.50 90.30 0.80 1.04
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92.00 93.00 1.00 2.25
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FL12-004 No Significant Results
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FL12-005 No Significant Results
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FL12-006 32.00 34.00 2.00 5.76
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FL12-007 67.00 68.20 1.20 1.11
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74.50 75.30 0.80 1.42
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185.50 186.62 1.12 1.57
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FL12-008 97.50 99.50 2.00 1.35
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FL12-009 49.00 50.00 1.00 0.74
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The Flume property lies approximately 60 kilometres southwest of Dawson City in the Yukon Territory and is in the heart of the gold-rich 10-Mile River placer district. In 2010 and 2011, the Company completed soil sampling programs on the Flume Property. A detailed magnetic and radiometric airborne survey was flown in 2010. Results of the soil geochemical surveys and the airborne magnetic survey have revealed an approximately 2.5 km long northwest trending soil anomaly, greater than 100 ppb Au, that is coincident with magnetic structural features. Smaller northern gold-in-soil anomalies are also present in the area of confluence between the Ten Mile and Flume Creeks. The larger southern anomaly was the focus of the 2012 diamond drill program, with all nine holes spaced over the anomaly. Seven of the holes were drilled in alignment of the main soil anomaly, while the final two (FL12-08 and FL12-09) were oriented with a northeasterly azimuth in order to intersect the structures highlighted in the geophysics, thought to be regional scale fault zones. (Please see map at:
http://media3.marketwire.com/docs/RYG_Flume_20121030.jpg)
Drilling revealed complex geology consisting of highly strained metasediments, high grade metamorphic rocks, intrusive dykes and volcanic horizons. Although sulphide mineralisation was common throughout the core, this seems to be a late stage overprinting and was not associated with gold mineralisation. The assay results are now being studied in tandem with the core logs to try and better understand the controls on the gold mineralisation.
QA/QC
In total 2,906 drill core samples from Flume have been sent for geochemical analysis. Drill cores for assaying were taken at a maximum of three metre intervals in the weathered zone, but predominantly at 1 metre intervals. Drill core was cut with a diamond saw with one-half of the core placed in sealed plastic bags. Sealed plastic sample bags were placed in a security sealed bag and delivered to ALS Chemex ("ALS Chemex") in Whitehorse, Yukon Territories. Here the entire sample was crushed passing minus 2mm, from which a 250g split of the crushed sample was pulverized passing minus 75 micron. Pulp samples of 100g were shipped to ALS Chemex Vancouver where the samples were analysed for gold by fire assay using a 50g aliquot with an ICP finish. An additional 0.5g sample analysed by aqua regia digestion was analysed for gold and an additional 51 elements with an ICP-MS finish.
As part of the Company's QA/QC procedures, internationally recognised standards, duplicates and blanks were inserted into the sample batches. ALS Chemex is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.
The exploration program was supervised by Andy Randell, Acting Chief Geologist of Ryan Gold. Ian Gendall, Pr.Sci.Nat., is providing his expertise as the qualified person within the definition of that term in NI 43-101. Mr. Gendall has also reviewed the technical information in this news release.
Corporate Update
The Company has terminated its option on the Fifty Mile Project.
About Ryan Gold Corp.
Ryan Gold Corp. is an exploration company focussed on gold exploration primarily in the Yukon Territory, Canada. The Company is well funded and has a large land package of over 400,000 hectares comprised of over 70 different properties. The company's flagship property is Ida Oro. During the summer of 2010 a soil sampling programme completed on Ida Oro revealed a significant, greater than 100 ppb Au, gold-in-soil anomaly over an area of 4 km by 1.2 km. In 2011 the Company completed an 11 hole drill campaign for a total of 2,854 m. The Company has completed its 2012 drill programs on the Ida Oro and Flume Properties, and continues to systematically explore a number of its other properties.
This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans and business trends. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any mineral that may be produced, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitability, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including any technical reports filed with respect to the Company's mineral properties. This press release is not, and is not to be construed as an offer to buy or sell securities in the United States.
Neither the 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:
Ryan Gold Corp.
David Schmidt, Interim CEO
(604) 639-3119
www.ryangold.com
