Confederation Minerals Ltd. (TSX VENTURE: CFM) is pleased to report
a summary of their on-going, 2011 diamond drill program at their
Newman Todd property in the Red Lake Gold District, northern
Ontario.
The drill program has been highly successful and continues to
expand the known sectors of gold mineralization across the property
and identify new mineralized areas/zones through step-out drilling
in previously untested areas. Current and historic drilling at
Newman Todd now totals 69 holes, 40 of these completed tested the
zone and all of them have intersected gold mineralization, with
results indicating the gold-bearing nature of the Newman Todd
Structure (NTS) along the entire length of the property.
Confederation Minerals completed an initial phase of drilling in
winter 2010-2011, consisting of 6 holes totaling 2,166 m and was
terminated due to inclement weather conditions. Drilling was
subsequently recommenced in a second phase in May 2011 and is
currently continuing, with an aggressive program of +12,000 m
underway utilizing two diamond drill rigs.
Phase 1 Drilling - Winter 2010 - 2011
Four of the six holes drilled in early 2011 were collared in the
the SW sector of the NTS, within a previously-drilled gold-bearing
zone referred to as the Heath Bull Zone. These holes tested below
and within known high-grade mineralization (NT-056 and NT-057), as
well as a 25 m step-out northeast of previous drilling (NT-058 and
NT-059), and demonstrated on-strike and depth extensions of
previous, highly anomalous results.
Drill hole NT-056 intersected three high-grade, gold-mineralized
zones, as well as additional zones of lower grade, yet
highly-significant mineralization. Key intersections include 7.0 m
grading 18.87 g/t gold; 3.0 m grading 42.84 g/t gold; 1.0 m grading
122.0 g/t gold; 3.0 m grading 22.49 g/t gold; 1.0 m grading 63.60
g/t gold; 8.6 m grading 5.03 g/t gold; 1.10 m grading 32.60 g/t
gold and 0.5 m grading 62.90 g/t gold.
Drill hole NT-057 was drilled much shallower, and from the same
drill platform as the first hole. Three anomalous intervals, each
of 1.0 meter length, returned 9.27, 4.03, and 3.77 g/t gold between
155.0 and 195.0 m core lengths.
Drill holes NT-058 and NT-059 were drilled on a 25 meter
step-out from the NT056-NT057 section, with highlights including an
intersection of 2.0 meters grading 25.55 g/t gold, including a
higher-grade interval of 0.50 meters grading 75.8 g/t gold.
Drill holes NT-060 and NT-061 were drilled over 1.0 kilometers
to the northeast of the NT-056 to NT059 drilling, to test an area
of continuing quartz-carbonate alteration, approximately 200 meters
NE of an additional zone of high-grade gold intercepts from
historical drilling, called the "NE Breccia Zone". In these wide
step-out holes, multiple zones of anomalous gold mineralization
were intersected, including 1.0 meters grading 11.65 g/t gold and
1.0 meters grading 7.33 g/t gold.
Results from this initial phase of drilling clearly indicated
the gold-bearing nature of the NTS structure along the entire
length of the Newman Todd property.
Phase 2 Drilling - Summer, 2011 (ongoing)
A second phase, aggressive drilling program is now underway to
further delineate the mineralization throughout the NTS and to add
to the highly-successful results obtained from the first six holes
drilled in early 2011. Approximately 12,000 meters utilizing two
diamond drill rigs are planned in this current phase, which may be
expanded depending on results.
Since May, eight holes have been completed for a total of 3,375
m. Assays have so far been reported on two drill holes (NT-062 and
NT-063) which have successfully identified similar, high-grade gold
intersections of Red Lake-style gold mineralization to the earlier
drilling. These two holes are wide step-outs from earlier drilling
phases, located approximately 170 meters northeast of the Hinge
Zone and 120 meters southwest of the NE Breccia Zone, in an area
between these two gold-bearing zones previously untested by
drilling. Both holes were drilled from the same collar location but
at different angles, with NT-063 the steeper hole of the two,
oriented to intersect the anticipated gold-bearing structures at a
deeper level.
Results as high as 18.25 g/t gold over a 5.0 meter core interval
(which includes a 2.7 meter interval grading 32.43 g/t gold and an
extremely high-grade 0.7 meter interval of 103.0 g/t gold) were
intersected in the shallower of the two holes, NT-062. As is the
case with many other high-grade gold intersections at Newman Todd,
this intersection was returned from a down hole interval of just
170 to 175 meters, which reconfirms that gold mineralization at
Newman Todd is being discovered at relatively shallow depths below
surface.
In addition to the assay results reported above, many very
highly-anomalous intersections were reported from both holes, with
examples including: 5.32 g/t gold over 19.0 m (hole NT-062); 8.86
g/t gold over 1.0 m (hole NT-062); 27.30 g/t gold over 0.5 m (hole
NT-063); and 8.11 g/t gold over 0.5 m (hole NT-063). In these two
holes, 24 separate intervals assayed between approximately 2.0 and
8.0 g/t gold. The overall anomalous nature of hole NT-062 can be
further illustrated by the fact that a 63.0 meter long interval
averaged 1.65 g/t gold. These lower-grade intersections may
indicate the presence of nearby, higher-grade zones of gold
mineralization.
The high grade, 103 g/t gold assay reported above is the
highest-grade gold intersection returned from drilling outside of
what has been referred to as the Heath Bull Zone, along the same
structural-alteration zone, approximately 600 meters to the SW.
Table of Significant Assay Results from Newman Todd Holes
------------------------------------------------------------------------
Hole Zone From (m) To (m) Width (m) Gold (g/t)
------------------------------------------------------------------------
NT-031 HB 124.50 136.00 11.50 1.94
------------------------------------------------------------------------
NT-031 HB incl. 127.00 128.00 1.00 8.73
------------------------------------------------------------------------
NT-031 HB 209.50 228.00 18.50 4.62
------------------------------------------------------------------------
NT-031 HB incl. 225.00 228.00 3.00 24.89
------------------------------------------------------------------------
NT-031 HB incl. 226.00 227.00 1.00 69.02
------------------------------------------------------------------------
NT-035 NE Bx 6.00 7.00 1.00 9.28
------------------------------------------------------------------------
NT-036 NE Bx 13.00 14.00 1.00 6.67
------------------------------------------------------------------------
NT-036 NE Bx and 231.00 256.43 25.43 1.46
------------------------------------------------------------------------
NT-036 NE Bx incl. 231.00 233.00 2.00 12.08
------------------------------------------------------------------------
NT-036 NE Bx incl. 232.00 233.00 1.00 16.35
------------------------------------------------------------------------
NT-037 HB 46.00 59.00 13.00 1.12
------------------------------------------------------------------------
NT-037 HB and 175.00 175.70 0.70 5.27
------------------------------------------------------------------------
NT-038 HB 244.00 249.00 5.00 2.44
------------------------------------------------------------------------
NT-038 HB and 248.00 249.00 1.00 6.20
------------------------------------------------------------------------
NT-039 NE Bx 158.00 160.00 2.00 7.60
------------------------------------------------------------------------
NT-039 NE Bx incl. 158.00 159.00 1.00 14.00
------------------------------------------------------------------------
NT-039 NE Bx and 217.00 218.00 1.00 7.34
------------------------------------------------------------------------
NT-040 HB 131.00 144.00 13.00 2.15
------------------------------------------------------------------------
NT-040 HB incl. 139.00 140.00 1.00 14.30
------------------------------------------------------------------------
NT-040 HB 197.00 264.00 67.00 1.76
------------------------------------------------------------------------
NT-040 HB incl. 219.00 221.00 2.00 9.88
------------------------------------------------------------------------
NT-040 HB incl. 220.00 221.00 1.00 15.00
------------------------------------------------------------------------
NT-040 HB and 258.00 263.00 5.00 14.23
------------------------------------------------------------------------
NT-040 HB incl. 258.00 259.00 1.00 61.20
------------------------------------------------------------------------
NT-042 Hinge 249.00 294.00 45.00 1.50
------------------------------------------------------------------------
NT-042 Hinge incl. 250.00 251.00 1.00 25.70
------------------------------------------------------------------------
NT-043 NE Bx 88.00 97.00 9.00 2.96
------------------------------------------------------------------------
NT-043 NE Bx incl. 91.00 93.00 2.00 6.24
------------------------------------------------------------------------
NT-046 Hinge 160.50 191.00 30.50 1.85
------------------------------------------------------------------------
NT-046 Hinge incl. 169.00 174.00 5.00 7.78
------------------------------------------------------------------------
NT-046 Hinge incl. 171.00 174.00 3.00 10.87
------------------------------------------------------------------------
NT-046 Hinge incl. 173.00 174.00 1.00 23.50
------------------------------------------------------------------------
NT-046 Hinge 233.70 234.90 1.20 4.31
------------------------------------------------------------------------
NT-046 Hinge incl. 234.60 234.90 0.30 15.70
------------------------------------------------------------------------
NT-047 HB 359.00 363.00 4.00 4.42
------------------------------------------------------------------------
NT-047 HB incl. 360.70 362.00 1.30 12.84
------------------------------------------------------------------------
NT-047 HB incl. 360.70 361.35 0.65 24.86
------------------------------------------------------------------------
NT-047 HB incl. 361.00 361.35 0.35 45.30
------------------------------------------------------------------------
NT-048 HB 167.00 190.50 23.50 2.01
------------------------------------------------------------------------
NT-048 HB incl. 167.00 180.00 13.00 3.41
------------------------------------------------------------------------
NT-048 HB and 167.00 168.50 1.50 26.80
------------------------------------------------------------------------
NT-048 HB 240.00 242.00 2.00 6.75
------------------------------------------------------------------------
NT-048 HB incl. 240.00 241.00 1.00 12.05
------------------------------------------------------------------------
NT-049 HB 289.00 289.70 0.70 3.52
------------------------------------------------------------------------
NT-050 NE Bx 159.00 160.00 1.00 2.77
------------------------------------------------------------------------
NT-050 NE Bx and 250.00 251.00 1.00 3.90
------------------------------------------------------------------------
NT-050 NE Bx and 268.00 270.00 2.00 3.06
------------------------------------------------------------------------
NT-051 HB 298.00 299.00 1.00 4.46
------------------------------------------------------------------------
NT-051 HB and 356.00 357.00 1.00 2.91
------------------------------------------------------------------------
NT-052 NE Bx 346.00 346.60 0.60 4.55
------------------------------------------------------------------------
NT-053 Hinge 124.00 125.00 1.00 3.61
------------------------------------------------------------------------
NT-053 Hinge and 264.00 276.00 12.00 1.04
------------------------------------------------------------------------
NT-053 Hinge incl. 268.00 270.00 2.00 3.36
------------------------------------------------------------------------
NT-053 Hinge and 298.00 311.00 13.00 1.00
------------------------------------------------------------------------
NT-053 Hinge incl. 301.00 306.00 5.00 2.01
------------------------------------------------------------------------
NT-053 Hinge and 335.00 338.00 3.00 3.76
------------------------------------------------------------------------
NT-053 Hinge incl. 335.00 336.60 1.60 6.56
------------------------------------------------------------------------
NT-053 Hinge and incl. 335.50 336.00 0.50 11.60
------------------------------------------------------------------------
NT-053 Hinge and 343.00 345.00 2.00 5.13
------------------------------------------------------------------------
NT-053 Hinge incl. 343.00 344.00 1.00 6.96
------------------------------------------------------------------------
NT-054 NE Bx 37.00 38.00 1.00 3.40
------------------------------------------------------------------------
NT-054 NE Bx and 99.70 100.60 0.90 3.20
------------------------------------------------------------------------
NT-054 NE Bx and 234.90 235.90 1.00 5.32
------------------------------------------------------------------------
NT-054 NE Bx and 275.00 282.10 7.10 1.36
------------------------------------------------------------------------
NT-054 NE Bx incl. 276.00 278.00 2.00 3.68
------------------------------------------------------------------------
NT-054 NE Bx and incl. 276.00 276.50 0.50 6.61
------------------------------------------------------------------------
NT-054 NE Bx and incl. 277.50 278.00 0.50 6.52
------------------------------------------------------------------------
NT-055 HB 55.00 57.00 2.00 3.13
------------------------------------------------------------------------
NT-055 HB incl. 56.00 57.00 1.00 5.68
------------------------------------------------------------------------
NT-055 HB and 196.60 200.00 3.40 1.47
------------------------------------------------------------------------
NT-055 HB incl. 198.00 199.00 1.00 3.77
------------------------------------------------------------------------
NT-055 HB and 292.00 293.00 1.00 24.00
------------------------------------------------------------------------
NT-056 HB 116.00 117.00 1.00 7.470
------------------------------------------------------------------------
NT-056 HB and 129.00 130.00 1.00 5.080
------------------------------------------------------------------------
NT-056 HB and 175.00 177.00 2.00 1.446
------------------------------------------------------------------------
NT-056 HB and 197.00 213.00 16.00 8.633
------------------------------------------------------------------------
NT-056 HB incl. 199.50 211.00 11.50 11.775
------------------------------------------------------------------------
NT-056 HB and incl. 204.00 211.00 7.00 18.873
------------------------------------------------------------------------
NT-056 HB and incl. 208.00 211.00 3.00 42.842
------------------------------------------------------------------------
NT-056 HB and incl. 208.00 209.00 1.00 122.000
------------------------------------------------------------------------
NT-056 HB and 249.00 260.00 11.00 1.537
------------------------------------------------------------------------
NT-056 HB incl. 249.00 254.00 5.00 2.275
------------------------------------------------------------------------
NT-056 HB and incl. 252.00 253.50 1.50 2.917
------------------------------------------------------------------------
NT-056 HB and incl. 253.00 253.50 0.50 4.410
------------------------------------------------------------------------
NT-056 HB and 275.00 278.00 3.00 22.492
------------------------------------------------------------------------
NT-056 HB incl. 275.00 276.00 1.00 63.600
------------------------------------------------------------------------
NT-056 HB and 366.55 387.50 20.95 2.453
------------------------------------------------------------------------
NT-056 HB incl. 366.55 379.50 12.95 3.686
------------------------------------------------------------------------
NT-056 HB and incl. 366.55 377.50 10.95 4.163
------------------------------------------------------------------------
NT-056 HB and incl. 370.90 379.50 8.60 5.030
------------------------------------------------------------------------
NT-056 HB and incl. 370.90 372.00 1.10 32.595
------------------------------------------------------------------------
NT-056 HB and incl. 370.90 371.40 0.50 62.900
------------------------------------------------------------------------
NT-057 HB 115.00 116.00 1.00 6.860
------------------------------------------------------------------------
NT-057 HB and 147.00 148.00 1.00 4.030
------------------------------------------------------------------------
NT-057 HB and 194.00 195.00 1.00 3.770
------------------------------------------------------------------------
NT-058 HB 182.00 184.50 2.50 2.46
------------------------------------------------------------------------
NT-058 HB incl. 183.00 184.00 1.00 4.61
------------------------------------------------------------------------
NT-058 HB 283.00 286.50 3.50 15.48
------------------------------------------------------------------------
NT-058 HB or 283.50 286.50 3.00 17.94
------------------------------------------------------------------------
NT-058 HB incl. 284.00 286.00 2.00 25.55
------------------------------------------------------------------------
NT-058 HB and incl. 284.00 284.50 0.50 75.80
------------------------------------------------------------------------
NT-058 HB and incl. 285.50 286.00 0.50 23.30
------------------------------------------------------------------------
NT-059 HB 68.00 70.00 2.00 3.60
------------------------------------------------------------------------
NT-059 HB incl. 68.00 69.00 1.00 5.84
------------------------------------------------------------------------
NT-060 New 102.00 103.00 1.00 5.21
------------------------------------------------------------------------
NT-060 New and 174.00 175.00 1.00 4.83
------------------------------------------------------------------------
NT-060 New and 250.00 251.00 1.00 11.65
------------------------------------------------------------------------
NT-061 New 53.00 54.00 1.00 3.17
------------------------------------------------------------------------
NT-061 New and 67.00 68.00 1.00 7.12
------------------------------------------------------------------------
NT-061 New and 237.00 238.00 1.00 3.56
------------------------------------------------------------------------
NT-061 New and 301.00 302.00 1.00 7.33
------------------------------------------------------------------------
NT-061 New and 307.00 308.00 1.00 3.61
------------------------------------------------------------------------
NT-061 New and 309.00 309.50 0.50 5.29
------------------------------------------------------------------------
NT-061 New and 406.00 407.00 1.00 3.48
------------------------------------------------------------------------
NT-061 New incl. 406.50 407.00 0.50 5.83
------------------------------------------------------------------------
NT-062 Hinge-NEBx incl. 170 175 5 18.246
------------------------------------------------------------------------
NT-062 Hinge-NEBx and incl. 171 173.7 2.7 32.426
------------------------------------------------------------------------
NT-062 Hinge-NEBx and incl. 173 173.7 0.7 103
------------------------------------------------------------------------
NT-062 Hinge-NEBx and 330 331 1 8.86
------------------------------------------------------------------------
NT-063 Hinge-NEBx 213 213.5 0.5 27.3
------------------------------------------------------------------------
NT-063 Hinge-NEBx and 243.5 244 0.5 8.11
------------------------------------------------------------------------
NT-063 Hinge-NEBx and 288 289 1 7.66
------------------------------------------------------------------------
A map showing the location of holes NT-062 and NT-063, along
with all previous holes drilled at Newman Todd, can be viewed on
the Company's web site at www.confederationmineralsltd.com. The
website also lists all significant assay results from previous
drilling and the major characteristics of the property geology as
well as all previous news releases.
Lawrence Dick, Ph.D., P.Geo., President and Director of
Confederation Minerals Ltd. states:
"The Company is extremely excited by the drilling results on the
property to date, and continue to encounter high-grade intercepts
in wide step-out holes from previous drilling. This indicates that
the NE-SW-trending zone of structural deformation, brecciation, and
intense quartz-carbonate alteration extends, within the confines of
the property, for more than 2 km, with significant strike potential
to this mineralized zone. In addition, the gold-bearing 'zones'
defined by all drilling to date are open to depth and along strike.
The Company is also looking forward to continuous results from our
two-drill program throughout the summer; one drill expanding on
known mineralized sectors, while the second drill continues
step-outs along strike of the NTS at approximately 100-meter
spacings."
Gold mineralization at Newman Todd occurs within
sulphide-magnetite replacement zones and along contacts with mafic
and felsic volcanic units within the NTS. Lower-grade zones of gold
mineralization described above also occur within wide areas of the
same sulphide-magnetite style of replacement. At present high grade
zones are believed to be steep to north-west dipping zones of
focused fluid movement along faults, contacts and within high
sulphide-magnetite zones. For example, the high-grade intercept in
Hole NT-062 occurs approximately 50 meters vertically above the
highest grade intercept encountered in hole NT-063 indicating,
along with numerous other examples, a vertical continuity to the
mineralization.
The exploration at Newman Todd is being funded by Confederation
Minerals Ltd. who is optioning the project from Redstar Gold Corp.
(TSX VENTURE: RGC). Confederation can earn a 50% interest in the
project by spending $5.0 million in exploration within three years,
and an additional 20% by producing a Preliminary Economic
Assessment (PEA) within six years.
Bob Singh, P.geo, is the qualified person as defined by National
Instrument 43-101 and has reviewed this news release. Mr. Singh is
the Canadian Exploration Manager for Redstar Gold Corp. Core
samples from the program were cut in half using a diamond cutting
saw and were sent to Activation Laboratories Ltd. in Red Lake
Ontario, an accredited mineral analysis laboratory in Red Lake,
Ontario for analysis. All samples were analyzed for gold using
standard Fire Assay-AA techniques. Samples returning over 3.0 g/t
gold were analyzed utilizing standard Fire Assay-Gravimetric
methods. Certified gold reference standards, blanks and field
duplicates were routinely inserted into the sample stream as part
of Redstar's quality control/quality assurance program.
About Confederation Minerals Ltd.
Confederation Minerals Ltd. is a British Columbia based company
engaged in the business of acquisition, exploration and development
of mineral properties. Its objective is to locate and develop
economic precious and base metals properties of merit.
Confederation Minerals Ltd. holds an option agreement to acquire up
to 70% of the Newman Todd project in the Red Lake Mining District
of Northern Ontario as well as 100% ownership in two other
properties in the Red Lake Mining District of Ontario.
On Behalf of the Board,
Confederation Minerals Ltd.
Lawrence A.Dick, Ph.D., P.Geo, President, CEO, and Director
Forward-Looking Information
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address events or
developments that the Company expects to occur, are forward-looking
statements. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or
"should" occur. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, and continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. Except as required by applicable securities laws, the Company
undertakes no obligation to update these forward-looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change.
Contacts: Confederation Minerals Ltd. - Corporate Inquiries
Lawrence Dick President 604.688.9588 778.329.9361 (FAX)
lawrence.dick@barongroupintl.com
www.confederationmineralsltd.com
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