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Gammon Gold Announces the Discovery of New Drill Targets and the Launch of a Drilling Program at the Venus Project
Gammon Gold Announces the Discovery of New Drill Targets and the Launch of a Drilling Program at ...
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\nGammon Gold Announces the Discovery of New Drill Targets and the Launch of a Drilling Program at the Venus Project\n\n\n Oct. 29, 2010 (Newsfile Corp.) -- Toronto, Ontario --(October 29, 2010) - Gammon Gold Inc. (“Gammon”)(TSX:GAM and NYSE:GRS): is pleased to announce the discovery of additional drill targets at the Venus project located in the Ocampo – Pinos Altos region and the launch of a strategic drilling program. VENUS PROJECT UPDATE By the end of Q3, the Company had completed geologic mapping over approximately 40% of the mineral rights, completed a 110-sample stream-sediment geochemistry program and a 2,019 sample rock-chip geochemical program. This work has successfully identified three significant drill targets within the Company’s properties. These drill targets have strong gold silver geochemical anomalies, favorable structural features similar to the setting of the Ocampo mines and are of sufficient size to cover potentially attractive economic mineralization. La Boleta, Venus Project 171 samples averaging 1.52 grams per tonne gold, 21 grams per tonne silver, or 1.90 grams per tonne gold equivalent(1) (gold values were capped at 8 grams per tonne) At the La Boleta target, the Company has now collected 703 rock samples on its properties, of which 171 samples (24%) had greater than or equal to 0.20 grams per tonne gold. Maximum values in this sampling were 25.08 grams per tonne gold and 210 grams per tonne silver. La Boleta is a 2,100 metre long target zone of combined vein and sheeted stockwork occurrence with mineralization partly hosted in the outer portion of a rhyolite dome, a setting considered very favorable for bulk-mineable gold-silver deposits geologically similar to La Pitarilla (Silver Standard) and San Julian (Fresnillo, PLC). Santo Niño, Venus Project 150 samples averaging 1.16 grams per tonne gold and 7 grams per tonne silver, or 1.29 grams per tonne gold equivalent(1) (gold values were capped at 8 grams per tonne). At the Santo Niño target a vein system ranging up to 30 metre wide has been mapped over a 2,400 metre strike length. The Company has collected 301 rock samples from this target, of which 150 (50%) contained greater than or equal to 0.20 grams per tonne gold. Maximum values in this sampling were 55.90 grams per tonne gold and 82 grams per tonne silver, ...