Business
99 Capital Commences Work Program at Skead project, Ontario
99 Capital Commences Work Program at Skead project, Ontario
About this update from Giyani Metals Corp
[{"type":"text","content":"\n\n\n\n Sep. 13, 2010 (Canada NewsWire Group) -- \n\nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nTrading Symbol: WDG - (TSX.V)\n\nVANCOUVER, Sept. 13 /CNW/ - 99 Capital Corporation (the "Company") is pleased to announce that it has commenced an exploration program at its Skead project which covers the past producing "New Telluride" gold mine near Larder Lake Ontario. Line cutting, IP, and geological mapping programs have commenced to define targets for subsequent exploration programs.\nThe Skead project covers an area of 972 ha approximately 120km SE of Timmins and approximately 15km South of Larder Lake Ontario. The project includes the past producing New Telluride gold mine which last saw production around 1932 during which time a two compartment shaft was sunk to 375 feet, with 1,995 feet of lateral development on levels at 90, 150, 250, and 350 feet. A 50 ton/day mill was installed which reportedly ceased operation due to a fire in 1932 and was never successfully rebuilt. Reference to past production reports gold values from trace to 1 oz/ton from underground workings.\nThe project is located within the Archean Abitibi Greenstone Belt of the Superior Province of the Canadian Shield. The claims are primarily underlain by sequences of fragmental lavas, pyroclastics and minor interbeds of sediments. Alteration of albitization surrounds many of the mineralized areas and a northerly trending major fault is projected adjacent to most of these mineralized zones. A diabase unit appears to contain green speckles (fucsite?).\nMost of the zones contain shear and fracture controlled lenses containing quartz veins and stringers, carbonate, pyrite, chalcopyrite and widespread specularite. The gold tends to follow copper to some extent.\nThe focus of the project is its three primary zones which trend northeast of the New Telluride shaft area: the Telluride, Denique, and Northern zones. The Northern zone, located approximately 800m north of Telluride, has reported h...