Underworld Expands Yukon Gold Discovery: 5.7 g/t Au Over 21.6 Meters
06 Agosto 2008 - 10:00AM
Marketwired
Underworld Resources Inc. (TSX VENTURE: UW) is pleased to announce
that additional assay results have been received from the grass
roots Discovery at the White Gold Project, Yukon Territory. Recent
Assay results include: 4.2 g/t Au over 16.03m and 5.74 g/t Au over
21.58 meters.
Underworld Resources has completed the initial round of core
drilling program at the 100% owned White Gold and Black Fox Gold
Project, in the Yukon Territory, Canada for a total of 1,243 meters
in 13 holes. The July 23rd, 2008 press release (UW 2008 - NR#6)
reported the gold discovery at the Golden Saddle prospect of 4.03
g/t Au over 19.58 meters, from 12.99 meters in drill hole WD-004
and 4.58 g/t Au over 16.61 meters, from 14.74 meters in drill hole
WD-005. The zone of mineralization discovered in drill holes WD-04
and 5 has now been extended along strike and down-dip in holes
holes WD-09 and 13. Recent drilling now indicates that the
mineralization extends down dip for 180 meters.
The discovery at Golden Saddle resulted from systematic soil
sampling commencing in 2003 which indicated gold values exceeding
0.1 g/t Au over a 1.1 km strike length. A trench completed in 2007
by Underworld at Golden Saddle returned 1.12 g/t Au over 38 meters
including 4.7 g/t Au over 5 meters and is the surface expression of
the newly discovered north dipping zone. The best grades in the
trench occur 20 meters south of the collar of drill holes WD-004
and 005. Mineralization is open for expansion along strike and
down-dip.
Highlights of assays received to date are provided in the table
below.
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Hole From (m) Length (m) Weighted average gold grade (g/t)
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WD-004 14.49 18.08 4.35
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Including 14.49 7.26 7.74
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WD-005 13.24 17.66 4.38
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Including 14.74 8.13 8.01
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WD-009 62.00 16.03 4.2
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Including 67.97 10.06 6.08
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WD-013 63.65 21.58 5.74
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Including 64.65 14.38 7.86
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Assays are still pending for several holes at Golden Saddle and
will be reported in due course.
Plans, drill hole collar locations and a full table of assay
results can be viewed at www.underworldresources.com.
An expanded program of mechanical trenching is in progress to
further refine the extent and surface expression of this discovery.
Additional drilling is planned to commence in late August. The
White Gold and Black Fox properties comprise an aggregate 18,344
acres (approximately 75 km2) 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).
Underworld also announces that Mr. Hamish Greig has been
appointed to the position of Vice President of Investor
Relations.
Quality Assurance
Underworld has implemented a rigorous QA/QC program using best
industry practice. Elements of the program include chain of custody
of samples, standard and blank samples are submitted, with drill
core sawn in half and shipped in sealed bags to Alaska Assay
Laboratories in Fairbanks, Alaska. The ongoing 2008 Exploration
Program is 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 program 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. Hamish Greig (604) 684-4001
(604) 484-7155 (FAX) Email: info@underworldresources.com Website:
www.underworldresources.com
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