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Abbastar completes first phase drill program at Talbot Lake gold project, Ontario
Abbastar completes first phase drill program at Talbot Lake gold project, Ontario
About this update from Kiplin Metals Inc.
[{"type":"text","content":"\n\n\n\n Jun. 30, 2010 (Canada NewsWire Group) -- Abbastar Resources Corp. ("Abbastar" or the "Company") (TSX-V: ABA) is pleased to announce the completion of the 17-hole First Phase drill program on the Talbot Lake gold project located in northern Ontario, approximately 50km northeast of Pickle Lake. The last eight drill holes were testing geological/geophysical targets other than the known East and Main zone gold deposits to possibly discover additional gold bearing zones on the property. Hole No. 13 intersected a new gold zone on the west side of the folded Banded Iron Formation (BIF) with an intersection of 3.2 g/t Au over 0.3m. The remaining seven holes returned no significant values. The area in and around this fold nose has proved to be very important spatially to the alteration and gold mineralization discovered to date. Future exploration efforts will focus drilling in this fold nose area as well as prospecting on the newly acquired ground to the southwest.\nThe best intersection from this first phase program was hole No. 3, drilled into the Main gold Zone, which yielded 9.8 g/t Au over 4.7m from 233.8 to 238.5m within silicified mafic volcanics with 80% quartz veining, and locally 15 to 20% pyrrhotite, 6 to 8% pyrite and 2 to 3% chalcopyrite. Within this same drill hole several samples prior to intersecting this Main Zone contained significant gold values and would give a wider weighted average of 2.8 g/t Au over 21.0m from 217.5 to 238.5m.\n"Our first phase drill program at Talbot Lake was successful in defining significant gold grades on the Main and East gold deposits similar to historical drilling by Placer Dome," commented Donald Gordon, President and CEO. "We are presently evaluating all the data and formulating the plan for the next phase of exploration."\nThe Talbot Lake gold project hosts the "Main Zone" gold deposit which was discovered by Placer Dome in 1985 and acquired by Denison Mines in 1998. It consists of an East-West striking and vertically dipping quartz vein containing visible gold, pyrite, chalcopyrite and sphalerite. Channel sampling by Denison yielded a weighted average grade of 13.8 g/t Au over a width of 3.3m. The gold deposit extends for a depth of approximately 200m and remains open. The following are some significant drill hole intersections ...