Entourage Metals (TSX VENTURE: EMT) Acquires Large Land Package Adjacent to Trelawney Mining and Augen Gold Deposits
19 Settembre 2011 - 3:00PM
Marketwired
Entourage Metals Ltd. (TSX VENTURE: EMT) (the "Company") is pleased
to announce it has acquired an option to earn a 100% interest in
the Benton Gold Property located within the Abitibi Belt in the
underexplored Southern Swayze greenstone belt, Benton Township,
Ontario. The 203 square kilometer Benton property surrounds a
portion of the Ridout Deformation Zone, within the Swayze
Greenstone Belt, which is considered to be the western extension of
the Larder Lake-Cadillac Deformation Zone. The Kirkland Lake
Deposits and Kerr Addison-Chesterville gold deposits, associated
with the Larder Lake-Cadillac Deformation Zone, have historic
production exceeding 49 million ounces of gold.
This Ridout Deformation Zone hosts Trelawney Mining's Cote Lake
Gold Deposit (Inferred Resource of 4.2 million oz. Au) and Augen
Gold Corp.'s Jerome Mine (Inferred Resource of 1.03 million oz.
Au). Entourage's claims cover over 15 km of this trend. The claims
are approximately 35 km northwest of Trelawney Mining's Cote Lake
Gold Deposit and 10 km northwest of Augen Gold Corp.'s Jerome
Mine.
In 1993-94 the Ontario Geological Survey (OGS) carried out a
regional drift sampling program over the entire Swayze Greenstone
Belt (SGB). Despite the limited sampling coverage over the Benton
Property, a significant gold anomaly in the heavy mineral fraction
of a till sample was identified on this property. The anomalous
gold grain count is located in the middle of the property. Other
anomalous gold grain counts in the SGB, outside of the Benton
Property, are adjacent to known mineral deposits and
occurrences.
Entourage management believes this new property represents an
excellent early discovery stage opportunity. The area is covered by
extensive overburden which frustrated previous exploration
attempts, and presents the opportunity of an underexplored area.
The rock types here are very similar to the Kirkland Lake
Greenstone Belt; consisting of Temiskaming conglomerates,
volcanics, and porphyries. Entourage plans to carry out soil
sampling, geological mapping, geophysics, and basal till sampling
to be followed by diamond drilling.
The Agreement
Entourage Metals can earn a 100-per-cent interest in the
property from an arm's-length third party group by paying $200,000
in cash and issuing 500,000 shares over five years. Upon completion
of an initial National Instrument 43-101-compliant mineral
resource, Entourage will issue an additional 300,000 shares. Within
30 days of filing a positive, bankable feasibility study Entourage
will issue an additional 500,000 shares. Upon commencement of
commercial production, the Company will be subject to a net smelter
return royalty (NSR) of 3 per cent with the option to purchase 2
per cent NSR in increments of 1 per cent NSR for $500,000.
At Entourage's Hemlo area properties the Phase 1 diamond
drilling program at Toothpick West property is now complete. Three
holes totaling 2,680 meters have been drilled. Results will be
posted once all assays have been completed. A 5,000 meter drill
program will commence shortly at the Rous Lake property, 8 km from
Hemlo Mines.
Entourage's exploration activity is under the supervision of
John C. Florek, P.Geo, Vice-President Exploration for Entourage
Metals. Mr. Florek is a Qualified Person as defined by NI 43-101.
Mr. Florek prepared and approved the information contained in this
release.
Details on Entourage Metals' portfolio can be reviewed at the
Company's website at www.entouragemetals.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Entourage Metals Ltd. Jeff Sundar President
604-484-7855 js@entourageminerals.com www.entouragemetals.com
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