Banks Island Gold Ltd. Intersects 19gpt Gold, 171gpt Silver, and 6.8% Copper Over 3.6m at Bob Zone
20 Janeiro 2014 - 5:30PM
Marketwired
Banks Island Gold Ltd. Intersects 19gpt Gold, 171gpt Silver, and
6.8% Copper Over 3.6m at Bob Zone
- High grade gold intersection at the Bob Zone with high copper
content.
- Intersection of mineralization 60m down dip of current
resource at Bob Zone.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 20, 2014) -
Banks Island Gold Ltd. (TSX-VENTURE:BOZ) (the "Company") announces
that it has received assay results from the Yellow Giant Gold
Project located near Prince Rupert, BC. Reported results include
diamond drilling completed at the Bob Zone.
Three diamond drill holes were recently completed at the Bob
Zone. Diamond drilling focused on determining the plunge of the
high-grade shoot at Bob as discussed in the previous news release
on July 4th 2013.
The Company successfully intersected the mineralized vein at a
depth of 142m below surface in drill hole BOB-13-32. This drillhole
is approximately 60m down dip of the high grade mineralized shoot
that comprises the current mineral resource at the Bob Zone. The
Company believes the area around BOB-13-32 will develop into a high
grade zone of mineralization similar to the upper Bob Zone.
The mineralization in BOB-13-32 is composed of massive sulphides
and banded sulphides in quartz. Sections of the mineralized
interval are composed of up to approximately 60% chalcopyrite.
Company mineral process engineers are examining the possibility of
intermittently producing copper concentrates with the planned
flotation circuit, discussed by news release on January 15th, from
areas of the mineralization which contain high copper values.
Drillhole BOB-13-32 included an intercept of 11.9gpt Au, 118gpt
Ag, and 6.8% Cu over 3.6m. The mineralized intersection is
displayed in Table 1 and Figure 1.
Table 1 - Significant Mineralized Intersection at Bob
Zone |
Hole |
From (m) |
To (m) |
Core Interval (m) |
Estimated True Width (m) |
Au (gpt) |
Ag (gpt) |
Cu (%) |
BOB13-32 |
217.9 |
221.5 |
3.6 |
2.3 |
18.6 |
171 |
6.8 |
FIGURE 1: http://media3.marketwire.com/docs/923034m.pdf
The Company is currently exploration diamond drilling at the Tel
Zone with the objective of expanding the Tel Zone mineral resource
to depth.
Dr. Dirk Meckert, P.Geo is the qualified person who reviewed and
approved the contents of this news release.
Analytical work was carried out by AGAT Laboratories Ltd. in
Mississauga, Ontario. Quality assurance and quality control
programs include the use of analytical blanks, standards, and
duplicates in addition to the lab's own internal quality assurance
program. Samples are fire assayed with an ICP-EOS finish to
determine gold values. Samples containing greater than 10 gpt gold
are fire assayed with a gravimetric finish.
The Company is a junior mining resource exploration company
focused on exploring for and developing economically viable mineral
resources. The Company's mineral property is located in British
Columbia. For more information, please refer to the Company's
website at www.banksislandgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Benjamin W. Mossman, P.Eng, President, Director, & Chief
Executive Officer
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the accuracy or adequacy of this release.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This press release contains forward-looking statements. All
statements, other than statements of historical fact, constitute
"forward-looking statements" and include any information that
addresses activities, events or developments that the Company
believes, expects or anticipates will or may occur in the future
including the Company's strategy, plans or future financial or
operating performance and other statements that express
management's expectations or estimates of future
performance.
Forward-looking statements are generally identifiable by the
use of the words "may", "will", "should", "continue", "expect",
"anticipate", "estimate", "believe", "intend", "plan" or "project"
or the negative of these words or other variations on these words
or comparable terminology. These statements, however, are subject
to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those
expressed, implied by or projected in the forward-looking
information or statements. Important factors that could cause
actual results to differ from these forward-looking statements
include but are not limited to: risks related to the exploration
and potential development of the Company's project, 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, as well as those factors discussed
in the sections relating to risk factors of the Company prospectus
dated September 30, 2011 filed on SEDAR.
There can be no assurance that any forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, the reader should not place any undue
reliance on forward-looking information or statements. Except as
required by law, the Company does not intend to revise or update
these forward-looking statements after the date of this document or
to revise them to reflect the occurrence of future unanticipated
events.
Banks Island Gold Ltd.Benjamin W.
Mossman604-245-0066www.banksislandgold.com
Banks Island Gold Ltd. (TSXV:BOZ)
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