Aultra Gold Plans Drill Program at Its Advanced Basin Gulch Property in Granite County, Montana
Aultra Gold Inc. (Aultra) (OTCBB:AGDI) plans a ten-hole drill program at its advanced stage Basin Gulch gold property in Granite County, Montana. Program planning is scheduled for startup in June. The Basin Gulch property, which was originally discovered by Aultra’s senior geologist, has extensive gold mineralization, based on 323 drill holes and 17,000 feet of trenching. Informal, historic, pre-43101 estimates placed the open-ended gold mineralization at one of four identified areas of gold mineralization at 2,450,000 ounces. These historic gold mineralization estimates did not consider economic viability or mineability, but were solely completed to understand the potential size of the Basin Gulch gold system. Approximately $3.6 million was spent on completing the trenching and drilling.
The historic drilling and trenching were focused on open-pit mineralization. As a consequence the majority of the drill holes were shallow, vertical and more or less regularly spaced. A change in Montana’s mining laws made surface mining more difficult, and with a then-weak gold price, the project was temporarily placed on hold. With today’s strong gold prices, Aultra believes that the project has very strong potential for large underground minable reserves that would be minable under current law. An outside geological consultant, after discounting his total 20 percent and eliminating the strong silver mineralization in the system, estimated 341,000 minable ounces within two of the four known gold-mineralized areas. He noted that the silver content in the system is locally very significant and, if included, would likely have significantly raised his estimated total.
Earlier surface mapping and drilling identified a large structure, informally called the BG fault zone, which locally contains high-grade gold mineralization. This zone is known to contain high-grade gold values to in excess of an ounce per ton, and extends for more than a mile through the area of known gold mineralization.
Aultra plans to use the drill program to further define areas of high-grade mineralization along the BG fault. This program will focus on shallow angle drilling in an attempt to define areas of easily accessed and mined gold mineralization.
Aultra’s subsequent plans include drilling of a large gold and silver mineralized volcanic diatreme complex on the property, and alternate gold recovery methods which could be used during production.
On behalf of the Board
Rauno Perttu, President
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as “expects,”"intends,”"plans,”"may,”"could,”"should,”"anticipates,”"likely,”"believes” and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company’s belief that Aultra Gold Inc. will be successful in its exploration and definition drilling. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.
For More Information Please visit our website at: www.aultragold.com. For Investor Relations contact: Gibraltan Financial (407) 834-9777