Quantcast

Underworld Commences Drilling at White Gold and Black Fox Gold Project, Yukon

June 17, 2008

VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 17, 2008) – Underworld Resources Inc. (TSX VENTURE:UW) is pleased to announce that drilling has commenced at its 100% owned White Gold and Black Fox Gold Project, in the Yukon Territory. The 2,000 meter diamond drill program will drill test both vein and disseminated gold targets.

The program will drill test targets identified during the 2007 exploration program. The 2007 exploration included extensive mapping, mechanical trenching, IP geophysics and an additional 1,400 grid soil samples at both the White and Black Fox Properties. Multiple gold prospects with a variety of styles of mineralization have been identified.

White Gold Property

The several gold showings at the White Gold Property occur within an extensive 7.5km by 1.2km soil anomaly. Mineralization occurs within a series of gold-bearing quartz veins, and disseminated sulphides associated with thrust faults.

The Ryan Showing consists of four gold-bearing quartz veins that range from 0.5 to 3.0m thick. Ten previous channel samples of the veins assayed from 0.1 to 7.0g/t Au. Additional grab sampling in 2007 confirmed and exceeded these Au values, with six samples from the veins ranging from 0.06 to 14.7g/t Au. These stacked veins range from 4 to 10 meters apart, strike to the northeast and dip 60 degrees to the southeast. At Ryan’s Showing, continuous chip channel sampling of a shallow mechanically dug trench (with each sample being 5m long across the veins) averaged 1.8g/t Au over 40m with the maximum grade of 9.8g/t Au over 5m and the minimum grade returning 0.02g/t over 5m. Hand trenching 150 meters along strike through thick overburden uncovered similar veining from which grab sampling returned 15.4 & 0.7g/t Au. These large veins at the Ryan showing are similar in nature to Teck-Cominco/Sumitomo’s Pogo Mine in Alaska, and have never been drill tested. These structures are high priority drill targets for 2008.

The Golden Saddle target is typified by disseminated sulphides and quartz stringers within silicified sandy schist. Shallow mechanical trenching targeted an area of anomalous soil samples extending over an area 800 by 500m, defined by gold values with an average of 50 ppb Au and a maximum value of 364 ppb from 87 samples. Continuous chip channel sampling of the trench revealed a 37.5m wide zone of mineralization averaging 1.3g/t Au, with a maximum grade of 4.7g/t over 5m and a minimum grade of 0.1g/t over 0.3m.

The White Gold Property has minimal bedrock exposure. An extensive soil sampling program has been carried out over an area 8km long by 3km wide. Within this area, five distinct anomalous areas have been identified. More than 1,400 soil samples were collected during 2007 on a 50m by 100m grid to verify the previous sampling.

Black Fox:

The Black Fox property has a hundred year history of placer gold mining and occurs as a topographic high surrounded by drainages. The initial target on the Black Fox Property is the Thistle vein, a 0.4 – 1.0m thick quartz vein that hosts visible gold mineralization. Mechanical trenching during 2007 exposed a 250m strike length. Grab samples were collected from the exposed vein in the trenches. The grab samples of Thistle Vein returned grades of 10, 7.6, 4.3, 3.7, 3.6, 1.9 and 0.6g/t Au. A 30 cm thick, sulphide rich, foliation parallel offshoot of the Thistle Vein returned an assay of 9.7g/t Au. The host rock adjacent to the vein returned assays of 17.7 and 0.5g/t Au respectively. The Thistle Vein is open along strike to the east and west.

The White Gold and Black Fox properties comprise an aggregate 11,850 acres and are located 95 kilometres south of Dawson City in Yukon Territory. Underworld has an option to earn a 100% interest in the Projects (see UW 2007 NR#3, May 16, 2007). Maps with the 2007 results are available at www.underworldresources.com.

The 2007 Exploration Program was supervised by Adrian Fleming, M.A.I.G, RPGeo, M.Aus.I.M.M., President of Underworld Resources and a Qualified Person as defined by NI43-101. Mr. Fleming prepared, and approves of the content of this release. Samples were assayed at Acme Analytical Laboratories Ltd. Surface samples were collected by experienced technicians and placed in sealed bags, and shipped to Acme’s facility in Vancouver. A sample quality control/quality assurance program was implemented.

Underworld Resources is a well-structured junior exploration company targeting base and precious metals in the Americas and New Zealand.

ON BEHALF OF THE BOARD OF DIRECTORS

Adrian Fleming, President

(c) 2008 Marketwire. Provided by ProQuest Information and Learning. All rights Reserved.




comments powered by Disqus