Underworld Intersects New Gold-Silver Rich Deep Zone Below Golden Saddle, White Gold Property, Yukon
12 Junho 2009 - 9:00AM
Marketwired
Underworld Resources Inc. (TSX VENTURE: UW) is pleased to announce
that results have been received from a new, deep gold-silver rich
zone at the White Gold Property, Yukon Territory. Hole WD09-31
returned 10.5 meters averaging 4.8 g/t Au and 38.2 g/t Ag starting
at 401.5 meters within a breccia zone underlying the Golden Saddle
Zone. Previously released results from the overlying zone at Golden
Saddle include (see NR UW2009 NR#7, May 27 2009):
- WD09-28: 1.84 g/t Au over 102.5 meters from 105 to 207.5
meters
- WD09-29: 3.94 g/t Au over 59.9 meters from 146.1 to 206.0
meters
- WD09-31: 3.59 g/t Au over 98.3 meters from 105.7 to 204.0
meters
The deep breccia zone within WD09-31 occurs from 401.5 to 412.0
meters and includes 9.40 g/t Au and 73.3 g/t Ag over 3.4 meters,
underlying the upper zone in this hole. WD09-31 was lost at 414.8
meters due to depth limits of the diamond drills currently in use
at Golden Saddle. Underworld is mobilizing a more powerful drill
rig to the White Gold Property with capacity to test this new zone
to greater depth.
Mineralization in the deep Hole 31 breccia zone is hosted in a
milled hydrothermal breccia with interstitial pyrite and specular
hematite. The discovery of this zone suggests the potential for
stacked mineralized structures within Golden Saddle. Furthermore,
the Ag/Au ratios within the "upper" Golden Saddle zone are
typically greater than 1:3 whereas the Ag/Au ratios in the "lower
breccia" Golden Saddle zone is 8:1. This type of mineral zonation
is often associated with intrusion-related gold deposits is
suggestive and suggests that there may be an intrusive source to
mineralization at depth.
Two diamond drills are currently on the White Gold Property, and
have completed nine holes at the Golden Saddle zone, and five holes
at Arc zone (located two kilometers southeast of Golden Saddle).
Results from these drill holes will be released following closure
of the Company's pending financings (see UW NR#8 June 3rd,
2009).
Quality Assurance
Underworld has implemented a rigorous QA/QC program at the White
Gold Property 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 ALS Chemex Laboratories in Vancouver. The ongoing 2009
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 precious metals in the Americas.
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. Jeff Sundar Investor
Relations 604-684-4001 604-484-7155 (FAX)
info@underworldresources.com 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