(TSX.V: TLG)
RICHMOND, BC, July 21 /CNW Telbec/ - Tagish Lake Gold Corp. (TSX.V - TLG)
is pleased to report additional assay results from seven holes, representing a
total of 720 metres of the current 5,000 meter drilling program at Skukum
Creek. This program is directed at outlining the Rainbow Two zone, and testing
the Ridge, Zone 2 and Kuhn mineralized zones.
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The drill holes, collared from four different locations, include:
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HOLE NORTHING EASTING DEPTH AZIMUTH DIP
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(No.) (m) (m) (m) (degrees) (degrees)
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SC06-42 6671106 477437 85.34 150 degrees -50 degrees
SC06-43 6671101 477417 76.32 150 degrees 0 degrees
SC06-44 6671101 477417 99.66 150 degrees -50 degrees
SC06-45 6671101 477417 57.46 150 degrees -25 degrees
SC06-46 6671101 477417 167.94 150 degrees +75 degrees
SC06-47 6671135 477490 80.77 330 degrees 0 degrees
SC06-48 6671051 477333 151.79 150 degrees 0 degrees
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Diamond drill hole SC06-42 is located on the same section as holes
SC06-39 to SC0641 (previously reported in the June 30, 2006 news release), and
the intercept lies 20 metres below the intercept in the Rainbow Two Zone in
hole SC06-41.
Diamond drill holes SC06-43 to SC06-46 are located 20 metres to the west
of the first series of holes previously reported. The Rainbow Two zone was
intersected, but only low values were encountered in this series of holes.
Diamond drill hole SC06-47 was drilled to the north (i.e. in the opposite
direction of the other drilling) to test the area north of the Rainbow Two
Zone.
Diamond drill hole SC06-48 is located some 100 metres to the west of the
section where holes SC06-43 to SC06-46 are located. The best results to date
from the Rainbow Two zone were encountered in this hole.
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The significant intercepts are:
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HOLE FROM TO LENGTH Au Ag
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(m) (m) (m) (g/t) (g/t)
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SC06-42 56.80 57.00 0.20 0.22 111.0
SC06-43 nsv
SC06-44 62.07 64.91 2.84 2.55 50.5
Incl 62.07 62.47 0.40 14.40 72.4
SC06-45 47.40 47.75 0.35 1.18 71.4
SC06-46 88.69 90.22 1.53 1.66 72.1
SC06-47 nsv
SC06-48 26.80 30.56 3.76 13.49 218.8
Incl 26.80 28.20 1.40 34.24 411.9
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nsv equals no significant values
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Robert Rodger, President of Tagish Lake Gold Corp. said, "The results
suggest that the Rainbow Two mineralized zone pinches on the section where
holes SC06-43 to SC06-46 are located, but has returned wider than ever in the
vicinity of SC06-48 some 100 metres further to the west. Additional drilling
between these sections will be necessary to outline this high grade area".
Assay results for the balance of hole SC06-48 and holes SC06-49 to
SC06-51 on the same section are expected early next week. With the long lead
times experienced at assay laboratories in western Canada, the Company has
requested that the lab results be provided on a "rush" basis, for holes
SC06-48 - 51. This has substantially shortened the lag time to receive
results.
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.
