Expedition Mining Identifies Numerous Multi-Element Anomalies on Joy Property
18 Agosto 2011 - 10:15AM
Marketwired Canada
Expedition Mining Inc. (TSX VENTURE:EXU) (the "Company") wishes to announce the
results from the Phase I work program on the Joy property located in the Rackla
Gold Belt in the Yukon. This work consisted of mapping, prospecting, stream
sediment sampling and rock sampling from a helicopter supported camp on the Joy
property.
The Phase I work program was guided by an airborne geophysical survey which was
flown in the spring of 2011. The Joy property survey demonstrated that the
strongest geophysical anomalies are east-west trending and appear to coincide
with the projected locations of the Kathleen Lakes fault and the Dawson thrust
fault. The majority of the secondary drainages in this area are north-south
trending providing good sections and exposure through the stratigraphic
sequence.
The stream sampling program included a series of Bulk Leachable Extractable Gold
(BLEG) samples which gave a lower detection limit and greater sensitivity of
analyses. In this area not all streams are amenable to BLEG sampling due to the
high topographic gradient and active water flow which flushes out the fine
sediment required for this form of sampling. A total of 91 stream, 7 BLEG, and
46 rock samples were collected from the Joy property and analysed for gold and a
51 element ICP package at AGAT Laboratories in Mississauga, Ontario.
The majority of the streams drain to the north, and anomalous values were
derived from all of these drainages. Only three drainages occur on the southern
flank of the property, which also returned locally anomalous results in arsenic
and mercury. Anomalous values are considered to be anything over the 95th
percentile of values for that element. Several samples contained statistically
anomalous gold values which correlate with the multi-element anomalies. The
following table highlights the most significant results.
Table 1: Significant Stream Sediment Samples
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Sample Au Ag As Cd Co Cr Cu Hg Ni Sb Tl Zn
----------------------------------------------------------------------------
Number ppb ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm
----------------------------------------------------------------------------
5267362 0.09 4.0 0.11 61.1 486 35.9 0.04 1133 0.3 0.04 69
----------------------------------------------------------------------------
5267384 5.93 0.06 7.6 0.04 80.9 639 13.2 0.01 1830 0.0 0.01 22
----------------------------------------------------------------------------
5267387 1.30 62.9 2.94 12.8 68 64.8 0.51 143 4.5 0.40 599
----------------------------------------------------------------------------
5267389 0.96 62.0 6.98 11.2 42 77.1 0.50 109 4.6 0.36 649
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5267390 6.36 0.40 21.0 1.60 23.0 99 76.0 0.20 119 1.8 0.30 310
----------------------------------------------------------------------------
5267391 7.14 0.84 25.8 1.92 19.2 41 176.0 0.37 53 2.8 0.41 291
----------------------------------------------------------------------------
5267393 8.88 0.89 31.1 2.54 19.7 30 156.7 0.36 70 2.8 0.49 261
----------------------------------------------------------------------------
5267195 0.38 18.2 0.72 42.2 308 46.3 4.63 617 1.2 0.19 130
----------------------------------------------------------------------------
5267196 17.2 0.40 25.0 2.20 39.0 254 45.0 1.00 485 1.4 0.20 406
----------------------------------------------------------------------------
5267204 0.52 20.1 2.30 13.4 45 45.2 0.20 93 1.5 0.25 2
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5267205 0.60 29.9 1.68 15.5 59 41.1 0.23 121 1.5 0.18 2
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5267209 14.1 0.27 17 0.60 17 35 44 0.4 63 0.8 1.00 1
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5267233 10.6 0.60 14 0.50 12 16 34 0.2 29 0.4 0.10 153
----------------------------------------------------------------------------
95th % 5 0.60 49.0 2.20 42.0 254 80.0 0.70 631 1.7 0.40 305
----------------------------------------------------------------------------
The strongest multi-element anomalies are located in the northwest and northeast
corners of the property from streams that drain an easterly trending ridge
through the centre of the claim block. Initial reconnaissance mapping suggests
that the stratigraphic units in the area may have an east-west orientation as
demonstrated by the geophysical results.
The rock sampling results completed to date have corroborated the stream
sediment sampling. Sulphide bearing outcrops in the northwest of the property
have been named the Virga showing. This drainage also contained strongly
anomalous sediment samples, indicating that the geochemical program is an
effective tool in this environment. Rock samples 5267332 to 337 in the table
below are from the Virga showing, which appears to be underlain by sediments and
ultramafic units.
Table 2: Rock Sample Results
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Sample Ag As Cd Cr Cu Hg Ni Pb Sb Tl Zn
----------------------------------------------------------------------------
Number ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm
----------------------------------------------------------------------------
less
than
5267332 0.05 1.2 0.02 1260 6.4 0.01 1790 2.9 0.28 0.05 21.1
----------------------------------------------------------------------------
5267333 0.03 97.1 0.01 353 2.5 2.69 142 3.4 11.7 0.24 15.6
----------------------------------------------------------------------------
5267334 0.06 1920 0.02 271 3.1 6.71 355 1.3 50.7 2.74 11.8
----------------------------------------------------------------------------
5267335 0.19 1770 0.51 992 13.8 2.31 2140 8.4 34.3 0.77 91.1
----------------------------------------------------------------------------
5267336 5.11 3670 595 665 199 82.5 642 5.24% 89.5 0.61 8.51%
----------------------------------------------------------------------------
5267337 0.28 658 5.72 12.5 9.2 0.62 79.7 113 1.47 0.07 505
----------------------------------------------------------------------------
5267276 0.56 252 7.06 174 27.4 3.32 328 769 13.7 0.04 63.2
----------------------------------------------------------------------------
less less
than than
5267277 0.02 0.9 0.02 1290 1 0.02 1870 1.7 0.05 0.02 23.1
----------------------------------------------------------------------------
5267289 0.44 4.5 0.19 882 3810 0.02 1040 1.5 0.05 0.03 136
----------------------------------------------------------------------------
95th % 0.56 592 3.9 914 184 2.6 1532 75 29 0.48 348
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To view the Rock Sampling and Stream Sediment Sampling maps on our website,
please click here.
A fully winterized camp has been established to support the current Phase II
work program. This program will include mapping and rock sampling, along with
both grid and contour soil sampling to further refine the nature of the known
showings, along with additional prospecting to evaluate the remainder of the
property. Geological and logistical support for the program is being provided by
Aurora Geosciences.
The Company also completed field work on the Mt. Mervyn property and results are
expected shortly. The Mt. Mervyn property is comprised of 314 unpatented mining
claims, approximately 6,564 hectares (65.64 sq km), and located in the Mayo
Mining District of central Yukon. It is five kms from ATAC Resources' Rau Gold
Property, where Carlin-type gold mineralization has been discovered, and
adjacent to Strategic Metal's claim block.
Information with respect to the Joy property contained in this news release is
approved by James Chapman, PGeo, a qualified person required under National
Instrument 43-101.
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.
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