Mosquito Announces Another Excellent Intersection at Pine Tree, Hole 17 Intersects 1140 Feet Grading 0.90% Copper Equivalent/0.080% Molybdenite Equivalent
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 23, 2008) – Mosquito Consolidated Gold Mines Limited (Mosquito) (TSX VENTURE:MSQ) is pleased to report excellent results from two holes of the 2008 diamond drilling program for its Nevada-based Pine Tree copper/molybdenum project.
Hole PT08-17 is an angle hole (-70) drilled to a depth of 673 meters (2208 feet), bearing 094 degrees azimuth from the same site as hole PT07-12. The hole is designed to test the extension of the mineralization intersected in Hole PT07-12 (figure 1). Hole PT08-17 intersected two molybdenum bearing zones separated by a north-south fault. The upper zone is within the same fault block as Hole PT07- 12 was from 349.3m (1044 feet) to 486.5m (1596 feet). The lower zone is from 499.3m (1638 feet) to 605.3m (1986 feet). Assay results returned include: Hole PT08-17________349.3 meters (1140.0 feet) grading 0.90% Cu Eq. ____________________(0.080% MoS2 Eq., 1.43 lbs MoO3 Eq/t) Including__________ 287.1 meters (942 feet) grading 1.00% Cu Eq. ____________________(0.089% MoS2 Eq., 1.59 lbs MoO3 Eq/t) Upper zone__________168.2 meters (552 feet) grading 1.26% Cu Eq. ____________________(0.112% MoS2 Eq., 2.01 lbs MoO3 Eq/t) Lower zone__________106.1 meters (348 feet) grading 0.66% Cu Eq. ____________________(0.058% MoS2 Eq., 1.05 lbs MoO3 Eq/t)
Hole PT08-15 is an angle hole (-70) drilled to a depth of 404.7 meters (1327 feet), bearing 066 degrees azimuth from the same site as hole PT06-10. The hole is designed to test the extension of the mineralization intersected in Hole PT06-10 (figure 1). Hole PT08-15 intersected two molybdenum bearing zones separated by a north-south fault. The upper zone is within the same fault block as Hole PT06- 10 was from 137.2m (450 feet) to215.2m (706 feet). The lower zone is from 248.7m (816 feet) to 374.3m (1228 feet). Assay results returned include:
Hole PT08-15________237.1 meters (778.0 feet) grading 0.61% Cu Eq. ____________________(0.054% MoS2 Eq., 0.97 lbs MoO3 Eq/t) Upper zone__________78 meters (256 feet) grading 0.66% Cu Eq. ____________________(0.058% MoS2 Eq., 1.05 lbs MoO3 Eq/t) Lower zone__________125.6 meters (412 feet) grading 0.68% Cu Eq. ____________________(0.060% MoS2 Eq., 1.08 lbs MoO3 Eq/t)
Geologically, the results are as expected. Both holes crossed through a north-south orientated axial plane fault, from the western block into the eastern block. Mosquito has been following the western block mineralization since Hole PT05-3. This fault has caused the higher-grade molybdenum mineralization to be shifted upward and to the north, resulting in lower-grade molybdenum with higher-grade copper and silver being intersected in the lower zone. This can be seen in Figures 1 and 2. The faulting also resulted in the intersections being shorter than previous intersections, as the holes crossed over the top of mineralization in the western block and passed through the base of the mineralized zone in the eastern block. The presence of molybdenum closer to surface, in the eastern block, has already been confirmed from pre-drilling the northeastern holes, which intersected molybdenum at 500 feet below surface. The lateral shift on the fault, which has moved peripheral-style molybdenum copper alongside higher-grade molybdenum mineralization, means that Mosquito will now concentrate on drilling to the northeast to continue following the mineralization to the north.
Drill core samples were 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 picked up directly by ALS Chemex personnel and delivered to their fully accredited analytical laboratory in Reno, Nevada. 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.
Full summary of the analytical results for Holes PT07-15 and PT08- 17 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 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____________ Number________feet______ feet______feet degrees__degrees______ Length feet ——————————————————————– —— PT07-15__101317.00__200013.00__ 7485.00__-70.00____66.00 1279.00 completed ——————————————————————– —— PT08-16__101778.00__199232.00__ 7435.00__-70.00____77.00__796.50 abandoned ——————————————————————– —— PT08-17__102223.00__199665.20__ 7379.00__-70.00____94.00 2249.00 completed ——————————————————————– —— PT08-18__101970.00__199120.00__ 7120.00__-90.00____ 0.00__687.00 abandoned ——————————————————————– —— PT08-19__100929.00__201173.00__ 7735.00__-90.00____ 0.00__925.00 completed ——————————————————————– —— PT08-20__100929.00__201172.00__ 7735.00__-65.00____45.00 1159.50 completed ——————————————————————– —— PT08-21__100929.00__201175.00__ 7735.00__-65.00__ 271.00__998.00 completed ——————————————————————– ——
Hole PT08-16 and PT08-18 were abandoned due to driller error. Holes PT08-19 to PT08-21 have been completed on the southern-most site within the eastern block. These holes intercepted molybdenum- poor/copper-rich mineralization on the periphery to the molybdenum system and were drilled to provide a geological control for the upcoming reverse circulation drilling and to fill in a large gap in the diamond drilling. Due to the hot desert summer weather in Nevada, drilling at Pine Tree has slowed down over the past few months, and the Company has concentrated drilling efforts on its main priority, the CUMO project, located in Idaho.
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 Figures 1 and 2, please click on the following link: http://media3.marketwire.com/docs/msqq0923.pdf.
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