Expedition Mining Inc. (TSX VENTURE:EXU) (the "Company") wishes to
announce the results from the 2011 work program on the Joy
Property, located between the Kathleen Lakes fault and the Dawson
thrust, along the Rackla Gold Belt in the Yukon. This work
consisted of mapping, prospecting, stream and rock sampling from a
helicopter supported camp.
The work program was guided by an airborne geophysical survey
which had been flown in the spring. In the region of the Joy
property the survey demonstrated that the strongest geophysical
anomalies are east-west trending and appear to coincide with the
projected locations of the Kathleen Lakes fault, the Dawson thrust
and an ultramafic unit. The initial stream sediment sampling
program (NR11-13, August 18, 2011) resulted in numerous
multi-element geochemical anomalies associated with the northerly
trending secondary drainages throughout the property. These
anomalies are believed to be significant as they include the
important pathfinder elements of As, Sb, Hg and Tl, which have been
associated with gold mineralization at the Rau and Nadaleen Trends
of ATAC Resources.
The follow-up program to the stream sediment sampling consisted
of systematic soil sampling along contour lines within the
anomalous drainages. A total of 1882 soil samples were collected
and analyzed for gold and a 51 element ICP package at AGAT
Laboratories in Mississauga, Ontario.
Mapping has shown the property to be underlain by fault bounded
slices of limestones, clastic sedimentary units and ultramafic
rocks. These units appear to have a southerly dip which is
significant as the soil geochemical anomalies occur along the
northern edge of the property. Extensive, and locally intense,
quartz-carbonate alteration is associated with structural breaks in
all of the rock types identified.
Table 1 shows the anomalous threshold values for the elements of
interest along with the maximum values obtained from the soil
sampling program. Plots of the soil data for all of these elements
are available on the Company's website (www.expeditionmining.com).
To go directly to the maps, click here. The significance of the
soil survey results is that the anomalies form coherent zones which
in most cases can be traced across several lines.
Table 1 Joy Project Soil Data
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Au Ag As Cd Hg Pb Sb Tl Zn
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ppb ppm ppm ppm ppm ppm ppm ppm ppm
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Ave 4.01 0.61 45.7 1.16 0.31 54 2.45 0.25 197
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Min 0 0 0.7 0.02 0.01 0.9 0.05 0.02 9.9
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Max 185 34.0 2580.0 60.9 22.0 2690.0 141.0 3.84 5570
----------------------------------------------------------------------------
95th %ile 10.2 2.4 147 3.9 0.9 145 7.7 0.7 560
----------------------------------------------------------------------------
Prospecting during the course of the soil sampling program
resulted in the discovery of 2 showings associated with the lower
contact of the ultramafic rocks. These are located in the northwest
corner of the property and were named the Virga and Kermoda
showings. Silver, lead-zinc mineralization is associated with
quartz carbonate veining in these rocks. The showings are also
highly anomalous in As, Cd, Hg, Sb and Tl along with elevated gold.
Sampling of the ultramafic rocks indicates that they are
significantly depleted in these elements. Rock sampling in area of
the showings has exposed strong mineralization as shown in Table
2.
Table 2 Virga - Kermoda Rock Sample Results
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Au Ag As Cd Hg Pb Sb Tl Zn
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Sample Width ppm ppm ppm ppm ppm ppm ppm ppm ppm
------------------------------------------------------------------
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5267336 grab 0 5.11 3670 595.0 82.5 5.24% 89.5 0.61 8.51%
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5267433 0.9m chip 0 0.03 1470 0.04 6.3 10.2 29.7 1.6 33
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5267438 1.7m chip 0 0.02 324 0.03 7.04 17.6 13.5 0.42 23
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5267439 1.0m chip 0 0.06 463 0.01 6.4 6.8 31.7 0.6 14.2
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5267440 0.23m chip 0 0.03 402 0.02 8.78 5.7 24.3 0.39 3.8
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5267445 0.6m chip 23 8.05 2390 365.0 50.0 4.00% 89.8 0.6 5.87%
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5267447 1.2m chip 11 5.72 523 1.28 0.34 7220 9.74 0.07 121
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5267448 0.5m chip 6 35.9 712 2.53 0.67 3.93% 38.1 0.07 145
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5267449 2.1m chip 0 1.64 372 0.94 0.27 1480 5.39 0.05 124
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5267450 1.1m chip 0 2.82 449 1.02 0.29 3330 9.71 0.18 175
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5267451 0.5m chip 2 4.37 968 1.31 0.46 4610 16.3 0.08 110
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5267457 0.8m chip 0 0.22 491 1.08 0.31 171 19.3 0.05 183
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The multi-element soil geochemical anomaly can be traced across
the entire 7 km east-west width of the Joy property, where it is
generally co-incident with the lower contact of the ultramafic
unit. The strongest portion of the anomaly is located over the 4
easternmost drainages, which also contain the highest soil gold
value of 185 ppb. In this area the rock units underlying the
ultramafic are dominantly composed of mudstones as opposed to the
phyllitic units to the west. The greatest concentration of soil
geochemical anomalies is clustered around the intersection of the
lower bounding fault of the ultramafic unit with a major north
trending fault zone in the central portion of the property.
The mineralization identified to date is associated with
extensive, and locally intense, quartz-carbonate alteration zones.
These zones show a strong correlation to the east-west trending
thrust slices of the Dawson Thrust, particularly in the vicinity of
cross-cutting northerly trending faulting.
The Company is very pleased with the quality of the anomalies
generated by the reconnaissance level exploration completed during
the 2011 field season. The program has provided drill targets for
the 2012 exploration program. Prior to drilling the Company will
conduct additional soil sampling, trenching and ground geophysical
surveys to better define the drill targets. Geological and
logistical support for the program is being provided by Aurora
Geosciences.
The Company has also completed field work on the Mt. Mervyn
property and results are expected shortly.
Mr. James Chapman, P.Geo, is the Qualified Person as required
under the National Instrument 43-101. He is responsible for the
design of the program, and all exploration work on the Joy Property
will be done under his supervision. Mr. Chapman has read and
approved the technical content of this news release.
Expedition is a publicly held Canadian exploration company
focused on acquiring, exploring and developing gold properties
located in favourable geo-political climates. The company is led by
a highly skilled, experienced board and management team with
significant successes in managing early stage mineral exploration
companies. For additional information concerning Expedition Mining
Inc. or its various exploration projects please visit Expedition's
website at www.expeditionmining.com.
ON BEHALF OF THE BOARD:
Ronald Atlas, President & Chairman of the Board
CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release
contains "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "can", "could", "would",
"might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Expedition Mining
to be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the exploration and potential development of its
properties, the actual results of current exploration activities,
conclusions of economic evaluations, changes in project parameters
as plans continue to be refined, future prices of gold. Although
Expedition Mining has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Expedition Mining does not undertake to update any
forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
Issued Share Capital: 56,710,318
Standard & Poor's Listed
NR-11-15
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: Expedition Mining Inc. William Galine (604) 662-3903
(604) 662-3904
(FAX)bgaline@expeditionmining.comwww.expeditionmining.com
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