Laurentian Goldfields Ltd. Announcement Sept. 16th, 2010
With summer winding down, our team at Goldpines is wrapping up Phase II exploration which has consisted of an infill sampling program designed to upgrade targets defined in Phase I exploration at both the Goldpines North Joint Venture and Goldpines South. At over 56,000 hectares, the Goldpines Property was an aggressive acquisition for Laurentian and our crew has done a tremendous job to advance it from a property with no previous history of exploration todrill-ready stage for Q1, 2011.
Goldpines North Joint Venture, 50/50 JV with Laurentian and Kinross
At the 21, 976 hectare Goldpines North Joint Venture, Laurentian with partner Kinross, made considerable progress during Phase I exploration and has discovered multiple anomalies through lake sediment and soil sampling. Of these anomalies, 25 lake sediment samples out of 183 assayed in the range of 109 to 206 ppb gold and 41 in the range of 55 to 109 ppb gold at Pakwash Lake. Elevated levels of arsenic and antimony were also reported at the 4km by 2km Pakwash Lake anomaly and are distinctive pathfinder elements in many large gold-bearing systems.
Soil sampling defined two more gold bearing areas at the Goldpines North Joint Venture named the Kwai and North Sea anomalies. Laurentian’s crew has just finished Phase II exploration which consisted of tighter sampling of these anomalies.
President & CEO, Andrew Brown, VP of Exploration, Patrick Lengyel, CFO Chris Twells and Manager of Corporate Communications, Vanessa Pickering recently took the opportunity to tour the Goldpines North Joint Venture with Kinross representatives Al Kirkham and Charlie Davies. Many thanks go to Laurentian Project Geologists Melissa Render and Steven Meade who showed us their geological interpretation of Goldpines and how the team has taken this sizable property and focused our efforts to define multiple areas of compelling gold mineralization, several which are on-track to be drilled in Q1, 2011.
From L-R: Laurentian Project Geologist, Steven Meade, VP Exploration, Patrick Lengyel, CFO, Chris Twells (behind), President & CEO, Andrew Brown, Kinross North American Director of Exploration, Al Kirkham and Laurentian Project Geologist, Melissa Render.
Laurentian President & CEO, Andrew Brown and Kinross Manager of Corporate Exploration, Charlie Davies, review outcrop at the Goldpines North Joint Venture.
Goldpines South Project
(100% owned by Laurentian and subject to the AngloGold Superior Alliance)
At the 34,731 hectare Goldpines South project, Laurentian and Superior Alliance partner, AngloGold Ashanti Ltd. have also made strides towards refining areas of interest within this huge project area. Phase I exploration defined the Granite Zone, a 5km soil anomaly along the inferred contact between the fine grained meta-sediments and a late granitic stock, intruding a major east-west trending fault. Elsewhere, the SLF Zone was defined through a combination of soil and lake sediment sampling that returned elevated levels of gold, arsenic and antimony over a distance of 8km, parallel and adjacent to the Sidney Lake Fault.
The results at both Goldpines South and the Goldpines North Joint Venture are extremely encouraging and continue to confirm Laurentian’s exploration model to target a large, sediment-hosted gold deposit similar to the Roberto Zone at Goldcorp’s Éléonore project, in the James Bay region of Quebec.
Goldpines Property gold in soil and lake sediment anomalies.
Corporate Update
Laurentian President & CEO, Andrew Brown, will be attending the Denver Gold Forum September 19-22, 2010. If you would like to schedule a meeting with Andrew in Denver, please contact Vanessa Pickering, Manager of Corporate Communications at 604-646-8000 or via email at vpickering@laurentiangoldfields.com.
Details of the Denver Gold Forum 2010 can be found here: http://www.denvergold.org/i4a/pages/index.cfm?pageid=3356
Neither 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.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to mineral potential and planned exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, realized mineralization of properties and the timing and success of future exploration, development and production activities.