Underworld Discovers Second Gold Zone on White Property in Yukon and Continues to Intersect Mineralization at Golden Saddle
24 Setembro 2008 - 10:30AM
Marketwired
Underworld Resources Inc. (TSX VENTURE: UW) is pleased to announce
a second discovery on its 100% owned White Gold property in the
Yukon Territory. Drill hole WD-014 at the Arc anomaly intersected
1.18 g/t Au over 28.5 meters from 6 meters including 3.36 g/t Au
over 7.5 meters from 18 meters.
In addition, further drilling at the Golden Saddle zone, hole
WD-016 has returned 3.38 g/t Au over 14.2 meters from 118.33 meters
including an interval of 5.97 g/t Au over 6.67 meters from 118.33
meters.
The results from hole WD-014 confirm a second zone of
mineralization at the White Gold property in addition to the Golden
Saddle zone reported previously in press release WD #5. Hole WD-014
is located 1.3 kilometres to the south east of the Golden Saddle
zone and tested the Arc Zone 2,000 meter long soil geochemical
anomaly (as defined by values exceeding 300 ppb Au). Drill hole
WD-016 is the northern most hole at Golden Saddle for which assay
results are available. It demonstrates a zone of mineralization
extending 220 meters down-dip from surface to a depth of 125
meters. Hole WD-016 is a re-drill of hole WD-010 which was
abandoned at 122 meters due to drilling problems. The Golden Saddle
zone remains open to the north and at depth.
True thickness for the intersections in holes WD-014 and WD-016
are not yet known. Plans, drill hole collar locations and a full
table of assay results can be viewed at
www.underworldresources.com.
Underworld Resources completed a 13 hole, 1,243 meter initial
core drilling program in July. Press release #5 (July 23, 2008)
reported the gold discovery at the Golden Saddle prospect grading
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. Press release #6 (August 6, 2008) reported 4.2
g/t Au over 16.03 meters from 62 meters in Hole WD-009 and 5.74 g/t
Au over 21.58 meters in hole WD-013.
This second phase of core drilling is expected to be completed
by the end of September. The objective has been to expand the
mineralization at Golden Saddle and to test the high priority Arch
soil anomaly. Several other targets within the White Gold Property
will also be drilled.
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 Resources is a well-structured junior exploration
company targeting base and precious metals in the North and South
America.
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 North and South
America.
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
Underworld Resources Inc. (TSXV:UW)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Underworld Resources Inc. (TSXV:UW)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024