Guinness Reports Trench Results From Newly Discovered Mineralized Zones at Its Charlotte Project, Yukon
AUCKLAND, New Zealand, Dec. 22, 2010 /PRNewswire/ — Guinness Exploration (“Guinness” or the “Company”) (OTC Bulletin Board: GNXP) is pleased to report on the assay results from trenching numerous mineralized zones at the Company’s Charlotte Project, Yukon Territory, Canada. Trenches were cut at the Huestis, Webber, Cabin, Orloff-King, Dickson, and GRW zones. Trench results confirm or extend known mineralization at the Huestis and Webber zones. Trenches at the Cabin, Orloff-King, and GRW zones have successfully delineated new zones of gold and silver mineralization that is open to depth and along strike. In particular, trenching at the GRW zone identified gold and silver in structural settings similar to the Flex zone (although of lower grade), which was drilled earlier in 2010 (see news releases dated November 3, 2010 and October 18, 2010), and additionally disclosed the presence of copper in intrusive rocks that were identified in the GRW trenches. Selected trench results are presented in the table below:
Zone Trench # From To Width Au (g/t) Ag (g/t) Orloff King OK10-1 45.5 49.2 3.7 1.50 40.3 Orloff King OK10-2 47.8 50.7 2.9 2.12 Na Orloff King OK10-5 11.4 12.1 0.7 7.05 34.7 Orloff King OK10-9 57.5 65.5 8.0 1.57 5.17 Cabin CAB10-1 40.1 43 2.9 1.353 15.7 ----- ------- ---- --- --- ----- ---- Webber WEB10-2 21.0 23.4 2.2 1.43 4.03 ------ ------- ---- ---- --- ---- ----
Virtually all of the trenches contained zones of anomalous gold and silver, ranging from 0.2 grams/tonne (‘g/t’) up to the level of results presented above. At Orloff King, Cabin, Webber, and GRW zones, the mineralized trends can be tracked from trench to trench. Work on trace element geochemistry continues, but early analysis suggests the presence of geochemical zonation that may be attributed to the presence of porphyry copper-gold mineralization in the vicinity of the GRW zone.
Trenching totalled 2,243 metres in 20 trenches. Of these, 16 trenches totalling 1,917 metres bottomed in bedrock while the remaining four trenches bottomed in permafrost and may be completed in following seasons. Ten trenches totalling 1,100 metres were cut on the Orloff-King Zone, of which 9 trenches totalling 1,052 metres reached bedrock. A total of five trenches, combined for 665 metres, were cut on the GRW zone and, of these, three bottomed in bedrock for a total of 466 metres completed to bedrock. The remaining five trenches were cut on the Webber, Huestis, and Cabin zones, and on geochemical anomalies scattered across the property. All but one of these five trenches reached bedrock for a total of 400 metres of trenching completed to bedrock. A total of 554 unique samples were collected from trenches and submitted for assay.
Guinness technical advisor John Hiner commented, “These results, both the high grade intervals and the surrounding envelopes of lower grade gold and silver in all the trenches, continue to strengthen the case that the Charlotte property offers bulk tonnage ore potential for gold and silver. We are additionally pleased to have found copper-gold mineralization in intrusive rocks, which may also offer a porphyry target yet to be fully evaluated.”
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Safe Harbour Statement under the Private Securities Litigation Reform Act of 1995
Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance, constitute “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In this press release, the statement: “These results, both the high grade intervals and the surrounding envelopes of lower grade gold and silver in all the trenches, continue to strengthen the case that the Charlotte property offers bulk tonnage ore potential for gold and silver,” is a forward looking-statement. All statements, other than statements of historical fact, are forward-looking statements. The words “believe,” “expect,” “will,” “anticipate,” “contemplate,” “target,” “plan,” “continue,” “budget,” “may,” “intend,” “estimate,” “project” and similar expressions identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE Guinness Exploration