Underworld Makes New Yukon Gold Discovery: 9.4 g/t Au Over 5.7 Meters and 4.6 g/t Au Over 16.6 Meters
23 Julho 2008 - 6:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA is pleased to announce initial assay
results from 100% owned White Gold and Black Fox Gold Projects, in
the Yukon Territory, Canada. The diamond drill program is still
underway and additional assay results are expected shortly.
Drill hole WD-004 intersected 4.03 g/t Au over 19.58 meters,
from 12.99 meters, including 9.43 g/t Au over 5.76 meters. Drill
hole WD-005 intersected 4.58 g/t Au over 16.61 meters, from 14.74
meters, including 11.62 g/t Au over 5.13 meters and including 19.14
g/t Au over 2.65 meters. These initial discovery holes at the
Golden Saddle Prospect encountered a shallow dipping quartz breccia
vein associated with a thrust fault. The assays are from priority
samples of quartz breccia containing visible gold from the upper
part of each hole. Both holes were drilled from the same set up
with WD-004 at minus 45 degrees and WD-005 at minus 65 degrees.
These holes for which partial results are available plus holes
WD-009 and WD-010 have all been drilled to test a soil geochemistry
anomaly which identified the Golden Saddle target and is
characterized by gold in soil values exceeding 80 ppb over a strike
length of 2.2 kilometres.
Holes WD08-04 and 05 at Golden Saddle were located to evaluate a
trench sampled in 2007 that returned a 38 m wide zone of
mineralization averaging 1.12 g/t Au, including 4.7 g/t over 5 m
and a minimum grade of 0.1 g/t over 0.3 m. The near surface zone of
breccia with strong silica - albite alteration and oxidized,
disseminated pyrite was prioritized for sampling and assaying and
returned the gold grades reported above. In Hole WD-004 the zone of
breccia, alteration and mineralization extends to a depth of 50 m,
albeit less strongly developed than the interval reported above
which is to a depth of 32.57 meters. The distribution of this
mineralization was interpreted as a shallow north dipping zone.
WD-009 is a 60 m step out down-dip from holes WD-004 and 5, and
intersected similar but unoxidized brecciated, quartz pyrite
stockwork within altered gneiss from 68-82 m. Hole WD-010 is a
further step out 60 m further north of WD-009 but was abandoned at
122 meters due to drilling problems. This shallow dipping breccia
vein associated with a thrust fault bears similarities to Teck
Cominco/Sumitomo's Pogo Mine in Alaska, also located within the
Tintina Gold Belt.
Plans with drill hole locations and a cross section can be
viewed at www.underworldresources.com.
Additionally, holes WD-001 to 3 were completed at Ryan Showing
to test the quartz veins which had returned encouraging gold grades
from sampling during the summer program in 2007 (see UW 2008 -
NR#4). Hole WD-006 was drilled to test an IP geophysical target,
and WD-007 and 8 were drilled at Trench C, all testing disseminated
sulphide mineralization within an extensive multielement soil
anomaly at the Quartz-Thrust zone. Assays are pending for all
additional drill holes. The Ryan, Golden Saddle, and Quartz-Thrust
anomalies are located over one kilometer apart, within a broad soil
anomaly that extends for over 6,000 meters.
The White Gold and Black Fox properties comprise an aggregate
11,850 acres and are located 95 kilometres south of Dawson City in
Yukon Territory. Underworld has an option to earn a 100% interest
in the Projects (see UW 2007 NR#3, May 16, 2007). Maps with the
2007 results are available at www.underworldresources.com.
Quality Assurance
Underworld has put in place a rigorous QA/QC program using best
industry practice. Elements of the program include chain of custody
of samples and insertion of standard and blank samples, with drill
core sawn in half and shipped in sealed bags to Alaska Assay
Laboratories in Fairbanks, Alaska. The ongoing 2008 Exploration
Program is being directed by Adrian Fleming, M.A.I.G., RPGeo,
M.Aus.I.M.M., President of Underworld Resources and a Qualified
Person as defined by NI43-101. Mr. Fleming prepared, and approves
of the content of this release.
Underworld Resources is a well-structured junior exploration
company targeting base and precious metals in the Americas and New
Zealand.
ON BEHALF OF THE BOARD OF DIRECTORS
Adrian Fleming, President
Forward Looking Statement
Some of the statements contained in this press release are
forward-looking statements. Forward-looking statements are not
historical facts and are subject to a number of risks and
uncertainties beyond the Company's control, including, but not
exclusively, statements regarding potential mineralization,
exploration results, completion of work programs and studies, and
future plans and objectives of the Company. Resource exploration,
development and operations are highly speculative, characterized by
a number of significant risks, which even a combination of careful
evaluation, experience and knowledge may not eliminate, including,
among other things, unprofitable efforts resulting not only from
the failure to discover mineral resources but from finding mineral
deposits which, though present, are insufficient in quantity and
quality to return a profit from production.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Underworld Resources Inc. Jeff Sundar Director (604)
684-4001 (604) 484-7155 (FAX) Email: info@underworldresources.com
Website: www.underworldresources.com
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