• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Enterayon Completes Drilling Program With Gold-Silver Intersections at Horseshoe Property

Posted on: Tuesday, 31 October 2006, 09:00 CST

Enterayon, Inc. (PINKSHEETS: ETYN) is pleased to announce the completion of the 2006 drilling, sampling and prospecting program on the company's Horseshoe Property in northwest British Columbia. Seven drill holes targeted a gold-silver vein historically known as the High-Grade Vein. Five holes intersected vein structures with the sixth hole intersecting a 4.17 m (13.7 ft) core length of vein material. This intersection occurs 17 m (55 ft) down-dip of surface vein outcropping where grab sample TY-003 contains 82.12 g/t gold. One of three core samples from the vein intersection in hole DD-06 contains 9.98 g/t gold and 38.3 g/t silver over 1.6 meters.

Due to steep terrain "fans" of holes were drilled from two drill sites. DD-06 and DD-07 were drilled at oblique angles to the target vein. The true widths of the vein are therefore less than the drill core length.

The drilling program experienced weather delays and drill equipment problems resulting in the completion of only 254 metres (835 ft) drilling by the scheduled completion date. Nevertheless the intersection of gold-silver mineralized veins in several holes "down dip" of the surface mineralized vein is a positive development. The 2006 drilling tested approximately 30 metres of vein strike length representing less than 10% of the known 400 metre (1300 ft) length of the High-Grade Vein. It is thus apparent that more than 90% of the strike length of the High-Grade Vein remains untested by drilling. The High-Grade Vein is open and untested down dip or to depth.

Drilling results from the 2006 program on the Horseshoe property are summarized as follows:

 Drill          From        To    Core Length Hole         (meters)   (meters)     (m)      Au (g/t)   Ag (g/t)             ---------- ---------- ---------- ---------- ---------- DD-01            64.40      65.43       1.03       0.57        1.4             ---------- ---------- ---------- ---------- ---------- DD-02             ----       ----       ----        NSA        NSA             ---------- ---------- ---------- ---------- ---------- DD-03        Abandoned Drill Hole       ----        NSA        NSA             ---------- ---------- ---------- ---------- ---------- DD-04            16.64      17.91       1.27       3.61        4.4             ---------- ---------- ---------- ---------- ---------- DD-05            12.11      13.83       1.72       0.75       14.0             ---------- ---------- ---------- ---------- ---------- DD-06            19.40      23.57       4.17       5.55       20.0             ---------- ---------- ---------- ---------- ---------- Includes         19.40      21.00       1.60       9.98       38.3             ---------- ---------- ---------- ---------- ---------- DD-07            16.33      17.33        1.0       1.46        7.6             ---------- ---------- ---------- ---------- ---------- 

NSA = No significant assays

A significant part of the 2006 program was dedicated to rock sampling. Detailed surface sampling of the High-Grade Vein and the three historic adits in the vicinity were completed. As previously reported, chip samples from this area returned up to 177.7 g/t gold, and 243.5 g/t silver. Prospecting and sampling at and around other mineral showings such as the Prince George and the Washington also returned multi-gram gold and silver values.

The following table enumerates the significant chip sample assays from the Phase I program.

 Area and Sample        UTM Location    Sample    Gold    Silver     Number           Easting Northing Width(cm)  (g/t)    (g/t)                      =======  =======  =======  =======  ======= HIGH GRADE SHOWING EH001                 445685  6186092       70    42.27     80.1 EH005                 445685  6186092       70    63.42    195.4 HS06-007-B            445685  6186092      100     3.79     43.2 HS06-008-D            445737  6186077      100    36.75     18.4 HS06-009-B            445787  6186070      100     4.81     30.5 HS06-009-C            445787  6186070      100     1.25     11.5 HS06-009-D            445787  6186070       64     4.86     34.7 HS06-100              445805  6186068       70     2.49    150.3 TY-001                445792  6186077      n/a     6.42     35.4 TY-002                445810  6186070      n/a     3.81    168.6 TY-003                445735  6186077      n/a    82.12     49.6 TY-004                445755  6186079      n/a    11.62    161.7 TY-005                445688  6186092      n/a    48.46     51.3 TY-006                445688  6186092      n/a     46.8    243.5 SS06-027              445998  6186074       85     1.41    176.1 SS06-030              445306  6186999       20     5.18      9.6 PRINCE GEORGE SS06-007              444289  6187905      124     4.23     24.4 SS06-009              444349  6187955       75     3.02     85.3 SS06-011              444347  6187955       74     3.71      6.6 SS06-012              444347  6187955      124     3.12     18.2 SS06-036              444487  6187774      n/a     5.45      6.7 WASHINGTON P-06                  444840  6178800      n/a     0.55     87.9 LOWER ADIT LUG-13                445473  6186280      100     2.04     17.8 MIDDLE ADIT MUG-08                445758  6186128       58    18.29     12.9 MUG-10                445760  6186129      n/a    177.7    109.1 UPPER ADIT UP-05                 445624  6186425       53     2.23      9.2 UP-12                 445623  6128427      n/a     2.39      7.3 

Based on the positive results from the Phase I exploration program, the company has budgeted a minimum of $1M for an extensive Phase II drilling program scheduled to commence in mid-2007. A high resolution and detailed airborne geophysical survey is planned to help delineate the known mineral showings as well as detecting any hidden mineral deposits. This will aid greatly in defining future drill targets.

The Horseshoe Property is located about 12 kilometers south of the town of Stewart in northwestern British Columbia. The property consists of eight contiguous claims covering approximately 1,766 hectares (4,364 acres).

Mr. Warner Gruenwald, chief geologist and principal of Geoquest Consulting Ltd, is the Qualified Person (QP) as defined by National Instrument 43-101. Sample analysis was conducted by Assayers Canada of Vancouver, B.C.

About Enterayon, Inc.

Enterayon, Inc. engages in the exploration, acquisition, development, and mining of precious metal and other mineral properties. By combining state-of-the-art technology with traditional acquisition targeting, the company's mission is to build a portfolio of viable mining prospects throughout the world and developing them to their full economic potential. Enterayon's wholly owned subsidiary, North Bay Resources, Inc., is a pure gold company whose mission is to generate 100% of its revenue from sales of gold.

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although Enterayon, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by Enterayon, Inc. or any other person that the objective and plans of Enterayon, Inc. will be achieved.

 Contact: Enterayon, Inc. 215-661-1100 http://www.enterayon.com  Steven Becker Investor Relations A.S. Austin Company 619-334-5644 asaustincompanyinfo@yahoo.com

SOURCE: Enterayon, Inc.

Source: MARKET WIRE

More News in this Category