Mosquito Announces Another Excellent Intersection at CUMO, Hole 37 Intersects 2135 Feet Grading 1.21% Copper Equivalent/0.107% Molybdenite Equivalent
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 16, 2008) – Mosquito Consolidated Gold Mines Limited (Mosquito) (TSX VENTURE:MSQ) is pleased to report excellent results from the second hole of the 2008 diamond drilling program for its Idaho-based CUMO molybdenum/copper project. The program is under the direction of Mosquito’s Senior Geologist and Director, Dr. Matt Ball, Ph.D., P.Geo.
Hole 37-08 is an angle hole (-70) drilled to a depth of 660.8 meters (2195 feet), bearing 335 degrees azimuth from the same site as hole 28. The hole is designed to fill in a gap in the resource between holes 27 and 5 and to cross the Cricket Gulch fault (figure 1). Hole 37-08 intersected molybdenum bearing mineralization from 6.1m (20 feet) to 660.8m (2195 feet). Assay results returned include:
Hole 37-08 642.7 meters (2135.0 feet) grading 0.085% MoS2
(1.21% Cu Eq., 0.107% MoS2 Eq., 1.93 lbs MoO3 Eq./t)
Including 406.4 meters (1350 feet) grading 0.104% MoS2
(1.38% Cu Eq., 0.122% MoS2 Eq., 2.20 lbs MoO3 Eq./t)
The entire core for Hole 37-08 was sampled and cut in half using a diamond saw. Half the core was sent for analysis and the other half has been kept and stored at the core facility located on site. Following cutting, the samples were delivered directly by Mosquito personnel to either ALS Chemex or SGS Labs, both located in Elko, Nevada and fully accredited analytical laboratories. They were first analyzed for 47 elements using a four (4) acid digestion with analysis by Inductively Coupled Argon Plasma Optical Mass Spectrometer (ICP-MS). Copper and molybdenum bearing samples were then checked by using a larger five gram sample and analyzed using pressed powder pellet X-Ray Fluorescence Spectroscopy (XRF). In addition, duplicates, blanks, and standards were analyzed to ensure analytical accuracy and reproducibility. All rejects are being kept for further analysis and for use in metallurgical testing.
As with previous holes, the drilling of Hole 37-08 has confirmed the presence of three distinct metal zones within the CUMO deposit. This zonation was not recognized by the previous operators. The zones consist of a copper-silver upper zone, a transitional copper- molybdenum zone and a lower molybdenum zone. Grades from the three zones are as follows:
Hole 37-08 33.5 meters (110 feet) grading 0.08% cu, 0.019% MoS2, 2.62 gms Ag/T
(0.53% Cu Eq., 0.047% MoS2 Eq., 0.985 lbs MoO3 Eq./t)
Hole 37-08 195.7 meters (650 feet) grading 0.11% cu, 0.05% MoS2, 2.69 Ag/T
(0.95% Cu Eq., 0.085% MoS2 Eq., 1.52 lbs MoO3 Eq./t)
Hole 37-08 426 meters (1415 feet) grading 0.02% cu, 0.102% MoS2, 1.14 gms Ag/T
(1.36% Cu Eq., 0.121% MoS2 Eq., 2.18 lbs MoO3 Eq./t)
Full summary of the analytical results for Hole 37-08 are outlined below in Table 1. Mineralization consists of copper, molybdenum, silver, rhenium and gallium. As a result of the multi- element nature of the mineralization, it was decided to calculate both a copper and molybdenum equivalent for the intercepts. Both equivalents are required as the deposit is zoned as described above. Please see notes below table for explanation of the calculation of copper equivalent (Cu Equiv.), MoS2 equivalent (MoS2 Equiv.). The presence of the by-product elements gold, silver, rhenium, and gallium is very significant in terms of the development of the property.
The table below lists the location and orientation of the current drill holes. All holes are being surveyed down the hole using a Reflex survey instrument.
——————————————————————– —— Hole__ Northing____Easting__Elevation____ dip azimuth__Length Number____ feet______ feet______ feet degrees degrees__feet ——————————————————————– —— 35-08__118658.3__ 220487.4______ 6534____ -90____ 000__2817 completed ——————————————————————– —— 36-08__119266.8__ 219322.9______ 6457____ -90____ 000__2488 completed ——————————————————————– —— 37-08__119755.7__ 221220.4______ 6341____ -70____ 335__2195 completed ——————————————————————– —— 38-08__118658.3__ 220487.4______ 6534____ -70____ 180__2366 still drilling ——————————————————————– —— 39-08__118872.7__ 220777.6______ 6466____ -90____ 000__2085 still drilling ——————————————————————– —— 40-08__119539.8__ 220816.8______ 6321____ -70____ 225__1977 still drilling ——————————————————————– —— 41-08__119545.7__ 219005.8______ 6247____ -90____ 000__1218 still drilling ——————————————————————– ——
Hole 37 is a fill-in hole located on the same drill pad as holes 28 and 32 and was designed to cover a large gap in the resource calculation between hole 27 and old hole 5 (short hole). Hole 36 has been completed and is currently in the assay lab with assay results available shortly. Hole 38 is currently drilling to extend the zone further to the south and is almost finished. Drilling is currently proceeding as planned with one rig (holes 37 and 40) doing infill drilling, while the other three rigs on site are currently doing 500 foot step-outs. Two additional rigs are scheduled to arrive on the property and will be used to follow the higher-grade core mineralization to the south west. The 2008 program is expected to complete 20 holes, with the results being used to expand the existing 43-101 resource and to convert the majority of the current inferred to measured and indicated. The new resource calculation is expected in the early spring of 2009.
Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Exploration Manager and Director of Mosquito is the designated qualified person for the CUMO Project, and prepared the technical information contained in this news release.
On Behalf of the Board
MOSQUITO CONSOLIDATED GOLD MINES LTD.
Brian McClay, President
About Mosquito Consolidated Gold Mines
Mosquito Consolidated Gold Mines Limited is a mining exploration and development company with a diverse portfolio of high potential precious and base metals projects, located in low political risk environments in North America and Australia. The Company’s primary focus is developing its Idaho-based CUMO project, one of the world’s largest molybdenum deposits, and its Nevada-based Pine Tree copper- molybdenum-silver project. For more information, please visit www.mosquitogold.com.
This news release was prepared by management who takes full responsibility for its contents.
This news release includes certain statements that express management’s expectation or estimates of future performance and may be deemed “forward-looking statements”. These forward-looking statements include plans, estimates, forecasts and statements as to management’s expectations regarding the CUMO Project. These forward- looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.
United States residents are cautioned that some of the information that may be published by Mosquito may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.
To view accompanying Table 1 and Figure 1, please click on the following link: http://media3.marketwire.com/docs/cumo0916.pdf
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