Staccato Commences Drilling on Its Flagship South Eureka Property
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 27, 2008) – Staccato Gold Resources Ltd. (TSX VENTURE:CAT) is pleased to announce that it has commenced drilling on its flagship South Eureka property in Nevada.
The South Eureka property encompasses an area of approximately 43 square kilometres (27 square miles) and is comprised of several projects including the Lookout Mountain project (refer to Technical Report and Gold Resource Estimate for the South Eureka District Property, January 15, 2007 filed on SEDAR).
Staccato has mobilized an RC drill rig supplied by Eklund Drilling Company Inc. and anticipates that a core rig will arrive on site in early September. Both rigs are working on a 3,000 – 6,000 metre (10,000 – 20,000 foot) core and RC drilling program to test exploration targets along the 4 kilometre (2.5 mile) long Ratto Ridge fault zone which hosts the Lookout Mountain resource.
Staccato continues to assess the large geological, geochemical, and drill hole database, and has now developed an optimum exploration plan for the South Eureka property. The Company believes that there is excellent potential to increase the size of the defined gold resource, and to discover new gold deposits on the extensive property. Company geologists have identified several regional target areas where historic production has occurred as evidenced by old workings, but only limited systematic exploration has been conducted. Mapping, ground geophysical surveys, and geochemical sampling programs are also ongoing to refine existing targets and develop new targets in the region. Further details of the exploration plan can be found on the Company’s website.
Grant Ewing, Staccato’s President and CEO, stated: “We are very pleased to be commencing the 2008 drill program at our flagship South Eureka property. Staccato is well funded to aggressively advance exploration and assess the full potential of this highly prospective property.”
The South Eureka property is located in the Eureka Mining district within the Battle Mountain – Eureka Trend, also referred to as the Cortez Trend. Barrick’s Archimedes (Ruby Hill) mine is located approximately 7.2 kilometres (4.5 miles) north of the Staccato claim area. The South Eureka property has a history of gold production from several open pits including the Windfall Mine, one of Nevada’s first open pit heap leach mines. Historic production from the district totals in excess of 2 million ounces of gold.
This press release was reviewed by Gary Edmondo, M.Sc. Geology, who is Staccato’s Senior Exploration Manager, and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
On behalf of the Board of Directors
STACCATO GOLD RESOURCES LTD.
Grant Ewing, President & CEO, Director
About Staccato Gold Resources Ltd.: Staccato Gold is a well funded junior gold exploration company with resources and advanced stage exploration assets located exclusively in Nevada. The Company has assembled a portfolio of five prospective gold prospects in the dominant gold trends in Nevada.
Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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