Expedition Mining's Soil Geochemical Survey Outlines Multiple Multi-Element Anomalies on Mt. Mervyn Property
01 Dicembre 2011 - 3:15PM
Marketwired
Expedition Mining Inc. (TSX VENTURE:EXU) (the "Company") wishes to
announce the results from the 2011 work program on the Mt. Mervyn
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 Mt. Mervyn
property the survey demonstrated that the strongest geophysical
anomalies are east-west trending and appear to coincide with the
projected location of the Kathleen Lakes fault. The initial stream
sediment sampling program (NR 11-14, August 30, 2011) resulted in
numerous multi-element geochemical anomalies 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 and a grid based survey in the northwestern
corner. A total of 1534 soil samples and 41 rock samples were
collected and analyzed for gold and a 51 element ICP package at
AGAT Laboratories in Mississauga, Ontario.
Reconnaissance mapping has shown the property to be underlain by
limestones, clastic sedimentary units and ultramafic rocks.
Anomalous gold values in soil were concentrated along a 6 km by
1 km belt in the southeast corner of the claim block, south of the
projection of the Kathleen Lakes structure. The airborne survey
shows a series of generally easterly trending lineaments
subparallel to, and located south of the Kathleen Lakes structure.
A strong southerly trending linear is also evident which extends
for over 3 kms south of the Kathleen Lakes structure, to and beyond
the edge of the property. Gossanous drainages were observed in this
area during the first pass stream sediment sampling program earlier
in the season.
The strongest mineralization identified to date is associated
with a 1.5 km square area on the eastern portion of the claims.
This multi-element anomaly is coincident with the projected
intersection of the easterly trending Kathleen Lakes fault and the
southerly trending structural zone. The anomaly is observed across
4 soil lines, remains open to the west, and is partly coincident
with the zone of anomalous gold values.
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 Mt. Mervyn Project Soil Data
----------------------------------------------------------------------------
Au Ag As Cd Hg Pb Sb Tl Zn
----------------------------------------------------------------------------
ppb ppm ppm ppm ppm ppm ppm ppm ppm
----------------------------------------------------------------------------
Ave 2.8 0.48 18.1 0.61 0.09 20 2.6 0.19 146
----------------------------------------------------------------------------
Min 0 0 0.6 0.03 0 3.3 0.12 0 11.3
----------------------------------------------------------------------------
Max 61 5.59 155 26.1 0.85 175 107 1.83 3180
----------------------------------------------------------------------------
95th% 7.9 1.45 36.7 1.6 0.24 39.3 8.1 0.42 330
----------------------------------------------------------------------------
Planning is underway for the 2012 follow-up work programs. The
Company is very pleased with the anomalies generated by the
reconnaissance level exploration completed during the 2011 field
season, which has provided numerous targets for additional work.
The 2012 exploration program will include additional soil sampling,
trenching and ground geophysical surveys to define drill targets.
Geological and logistical support for the program is being provided
by Aurora Geosciences.
"We are very pleased with the program of exploration completed
by Aurora Geosciences in 2011," Ron Atlas, President and Chairman
stated. "The results to date are very encouraging on both the Mt.
Mervyn and the Joy properties. Our goal in 2012 will be to define
drill targets early in the season. Our permanent, fully winterized
camp has been established and we have funds on hand to complete a
drill program without additional financing if the targets are
deemed of sufficient merit."
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 Mt. Mervyn
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-11-16
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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