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2009 Field Work Demonstrates Strong Potential to Expand Historic Resource at the East Coldstream Deposit, Coldstream Gold Property, Ontario
2009 Field Work Demonstrates Strong Potential to Expand Historic Resource at the East Coldstream ...
About this update from Big Ridge Gold Corp
[{"type":"text","content":"\n2009 Field Work Demonstrates Strong Potential to Expand Historic Resource at the East Coldstream Deposit, Coldstream Gold Property, Ontario\n\n\n Nov. 16, 2009 (TheNewswire.ca) -- Vancouver B.C. November 16, 2009: Foundation Resources Inc. (TSXV:FDN) (FDN: TSX-V) is pleased to announce results of the summer field program demonstrating strong potential to expand the historic resource (non 43-101 compliant) on the East Coldstream Deposit of the Coldstream Property in Ontario.This is the second in a series of news releases presenting the results of the recently completed 2009 summer field program on the Property. This news release presents the results for the East Coldstream Deposit only. Further news releases providing results for the Coldstream Property are planned in coming weeks.Highlights of the East Coldstream Deposit:-2009 grab sample results include 15.8, 16.55, 16.75, and 34.8 g/t Au, with 35 results over 0.5 g/t-Historical, non 43-101 compliant resource of 5.1 million tonnes with 234,000 ounces contained gold calculated by Noranda in 1990-Strong potential to add tonnage along strike to the east, and at depth-2009 channel sampling results up to 2.48 g/t over 3.2 m and 5.26 g/t over 1.6 m in an area targeted for eastern expansion of the depositSome of the most significant gold assays obtained from 2009 channel sampling include:\nChannel Sample Au g/t Length (m) \nEC-06 1.69 5.8 \nincludes 5.26 1.6 \nEC-09 1.29 6.5 \nincludes 2.48 3.2 \nThese very positive channel samples were taken at the Sanders Zone, east of a drill hole completed in 2006 by partner Alto Ventures (TSXV:ATV) with results including 1.1 g/t Au over 23 m. The Sanders Zone was not included in the Noranda resource calculation. It shows excellent potential to expand the historic East Coldstream Deposit resource along strike to the east.Mineralization at the East Coldstream Deposit is hosted in intensely sheared, silicified and iron-carbonate altered mafic to felsic metavolcanics and porphyries in a zone extending northeast over a 1.5 km strike length.The East Coldstream Deposit is located on the 5,394 hectare Coldstream Property. The East Coldstream Deposit is easily accessed by logging and drill roads from the nearby Trans Canada highway.A historical non 43-101 compliant resource of 5.1 million tonnes grading 1.43 g/t Au, with 234,000 contained ounces gold wa...