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Medallion Commences Drilling on Ocelot Gold Project, Nevada
Medallion Commences Drilling on Ocelot Gold Project, Nevada.
About this update from Gamma Resources Ltd.
[{"type":"text","content":"\n\n\n\n\nTSX-V: MDL\n\nVANCOUVER, Aug. 15 /CNW/ - Medallion Resources Ltd (TSX-V: MDL) announces\nthat core drilling is underway at Ocelot site MDL1-06. The Ocelot Gold Project\nis located 40 kilometres northwest of Austin, Nevada. Medallion has engaged\nFrontier Drilling of Vancouver, BC to provide core drilling services.\nFive drill sites and two alternates have been laid out to target deep gold\nmineralization. The drill holes are planned to exceed 1,000 feet. Core will be\nlogged and split at the Company's field office in Battle Mountain, Nevada.\nMineralized sections will be sent for assay and results will be reported at\nthe completion of the five-hole project.\nThe initial five drill holes will test gold targets along deep\nstructures, which are believed to be feeders for the Ocelot surface\nquartz-adularia hot-springs gold occurrences. The epithermal quartz-adularia\ngold-exploration model is exemplified by gold deposits such as Midas, Silver\nCloud, and deeper portions of Sleeper and Grassy Mountain. Typical of the\nepithermal quartz-adularia gold model, the Ocelot property contains widespread\noccurrences of silicification, anomalous gold values and a quartz-adularia\nhot-springs system.\nThe Ocelot property lies at the intersection of two major Nevada gold\ntrends, the Independence - Crescent Valley Lineament and the Austin-Lovelock\nmineral belt. Both trends host significant gold deposits and the intersection\nof the two trends creates an excellent gold-exploration target. The\nAustin-Lovelock mineral belt is parallel to, and west of the Battle Mountain\ntrend.\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\"William H Bird\", PhD, PGeo\n\nPresident & CEO\n\nWilliam H. Bird, PhD, PGeo, serves the Board of Directors of the Company\nas an internal, technically Qualified Person. Technical information in this\nnews release has been reviewed by Dr Bird and prepared in accordance with\nCanadian regulatory requirements as set out in National Instrument 43-101.\nThis news release was prepared by Company management, who take full\nresponsibility for content. The TSX Venture Exchange has not reviewed and does\nnot accept responsibility for the adequacy or accuracy of this release.\n\n\n\n","length":2256,"tagName":"div"}]