(TSX.V: TLG)
RICHMOND, BC, July 31 /CNW Telbec/ - Tagish Lake Gold Corp. (TSX.V - TLG)
wishes to report on the assay results received for hole SC06-49, and for the
balance of hole SC06-48. These holes are part of the program directed at
outlining the Rainbow Two Zone, and testing the Ridge, Zone 2 and Kuhn
mineralized zones.
<<
-------------------------------------------------------------------------
-------------------------------------------------------------------------
HOLE NORTHING EASTING DEPTH AZIMUTH DIP
-------------------------------------------------------------------------
(No.) (m) (m) (m) (degrees) (degrees)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
SC06-49 6671051 477333 115.2 150 degrees -40 degrees
-------------------------------------------------------------------------
-------------------------------------------------------------------------
The drill hole SC06-49 was collared in the same location and drilled down
to intersect the zone some 40 metres below Hole SC06-48.
Results were also received for samples from the balance of hole SC06-48,
and no significant values were encountered between the Rainbow Two Zone (where
the best results to date from the Rainbow Two zone were encountered) and the
end of the hole.
The significant intercepts are:
-------------------------------------------------------------------------
HOLE FROM TO LENGTH TRUE Au Ag COMMENTS
WIDTH
-------------------------------------------------------------------------
(m) (m) (m) (m) (g/t) (g/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
SC06-49 34.72 35.80 1.08 0.60 6.97 47.8 Rainbow Two
79.33 81.27 1.94 1.10 2.17 168.2
Incl 79.60 80.62 1.02 0.58 4.06 304.0
-------------------------------------------------------------------------
Robert Rodger, President of Tagish Lake Gold Corp. said, "The results
confirm that the Rainbow Two mineralized zone extends vertically in the
vicinity of hole SC06-48. A second zone with high values was intersected in
hole SC06-49, but we are not sure yet of the significance of this intercept.
The additional drilling necessary to define the Rainbow Two zone is ongoing."
The 2006 drilling program is under the supervision of Christopher Naas,
P.Geo, of CME Managing Consultants Inc., a qualified person under NI 43-101.
The core is sawed in half, with one half stored for future reference. Sampling
and assaying procedures are subject to a rigorous QA/QC program, which
includes insertion of standards and blanks for each batch of samples. All
samples were shipped in sealed packages to Eco-Tech Laboratories in Kamloops,
BC for preparation and analyses. Samples which returned values greater than
900 ppb Gold (Au) by ICP were fire assayed for gold.
About Tagish Lake Gold Corp.:
Tagish Lake Gold Corp. explores for and develops high grade gold-silver
mineral deposits in the Yukon Territory of Canada. The Company is currently
focused on its wholly owned, 178 km2 Skukum Mineral District located 80 km by
road south of Whitehorse. The Skukum Mineral District hosts the Skukum Creek
gold-silver deposit and the Goddell Gully gold deposit, with a currently
defined measured plus indicated resource of 1,120,000 tonnes grading 8.0 g/t
Au and 153.1 g/t Ag (MineTech June 2003, available on Sedar); and the Mt.
Skukum gold deposit.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE.
>>
This news release includes certain forward looking statements in respect
to various issues including upcoming events. These forward looking statements
are based upon current expectations which involve risks and uncertainties that
could cause actual outcomes and results to differ materially. Mineral
exploration is subject to a high degree of risk, which even a combination of
experience, knowledge, and careful evaluation may fail to overcome.
Exploration activities are also expensive. The Company will therefore require
additional financing to carry on its business, and such financing may not be
available when it is needed. The Company disclaims any obligation to revise
any forward looking statements as a result of information received after the
fact or regarding future events.
