Aug. 11, 2009 (Filing Services Canada) -- Golden Odyssey Mining Inc. (GOE - TSX Venture), is pleased to announce that it has received positive geochemical results from its surface trenching program on the Peggy Structure at its Dome South Property in north-central, British Columbia. The Dome South property is centered approximately 45 km east of Smithers, British Columbia, adjacent to the former Dome Mountain gold-silver mine.
The Peggy showing, a prospecting discovery made in 2007 by Christopher James Gold Corp., consists of silver-copper mineralization in a zone of altered limestone cut by numerous stringers of quartz-sulphides. Chip samples collected that year from a hand-dug trench graded up to 83.9 ppm Ag and 9620 ppm copper over 1 m. In 2009, an assessment of the mineralization exposed in the hand trench identified that the zone is subvertical and strikes at approximately 010 degrees. The Peggy showing is marked by malachite and azurite and consists of silicified grey limestone cut by numerous quartz stringers containing traces to less than 1% tetrahedrite, chalcopyrite, sphalerite, galena and pyrite.
A limited mechanized trenching program along two short segments of existing nearby logging road successfully traced the continuation of the zone to the north and to the south. The mineralized structure has a defined strike length of more than 125 m and the zone is open in both directions.
Channel sampling across the Peggy showing and across its extensions to the north (Upper Trench) and to the south (BQ Trench) are presented in Table 1. They characterize a well-mineralized silver-copper replacement zone within silicified limestone near the transition between intermediate flows and underlying felsic volcanics and siliciclastics. The Peggy structure is up to 2.27 m wide where exposed by hand, and appears to widen where sampled in the upper trench. The Peggy structure is also anomalous in arsenic, barium, lead and zinc. Gold is typically below detection, but samples from the BQ (barite-quartz) trench returned values up 0.021 ppm Au. While the results may not be considered ore grade, they do outline a new precious and base-metal mineralized structure near the well-known Dome Mountain gold-silver vein camp.
Table 1.
-------------------------------------------------------------
Trench Sample From To Width Ag Cu
(m) (ppm) (ppm)
-------------------------------------------------------------
Hand Trench 09DS-019 0.00 2.00 2.00 54.1 6310
-------------------------------------------------------------
Hand Trench 09DS-021 0.00 1.55 1.55 77.9 7800
-------------------------------------------------------------
Hand Trench 09DS-022 1.55 2.27 0.72 65.2 5990
-------------------------------------------------------------
Upper Trench 09DS-025 0.00 1.20 1.20 18.3 1360
-------------------------------------------------------------
Upper Trench 09DS-026 1.20 2.40 1.20 1.6 40
-------------------------------------------------------------
Upper Trench 09DS-027 2.40 3.80 1.40 17.6 996
-------------------------------------------------------------
Upper Trench 09DS-028 3.80 5.00 1.20 41.1 2250
-------------------------------------------------------------
Upper Trench 09DS-029 5.00 6.00 1.0 5.2 306
-------------------------------------------------------------
Upper Trench 09DS-030 0.00 1.00 1.0 1.9 46
-------------------------------------------------------------
Upper Trench 09DS-033 0.00 1.20 1.2 21.9 1190
-------------------------------------------------------------
BQ Trench 09DS-036 0.00 0.60 0.6 24.3 2900
-------------------------------------------------------------
BQ Trench 09DS-037 0.00 0.50 0.5 6.3 656
-------------------------------------------------------------
BQ Trench 09DS-038 0.00 0.60 0.6 9.9 1720
-------------------------------------------------------------
The limited trenching program was part of a larger exploration program on the Dome South property that included a 9-hole, 1200 m diamond drilling program designed to test three geophysical anomalies as well as the subsurface expression of the Peggy structure. Geochemical results from the diamond drilling program will be the subject of a subsequent news release. Bob Lane P.Geo is the qualified person on the Dome South project.
Forward Looking Information
Certain information regarding the Corporation set forth in this press release, including the use of proceeds, and management's assessment of the Corporation's future plans and operations contain forward looking information that involve substantial known and unknown risks and uncertainties. The forward looking information is subject to numerous risks and uncertainties, some of which are beyond the Corporation's and management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, imperfection of reserve estimates, environmental risks, industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The Corporation's actual results, performance or achievement could differ materially from those expressed in or implied by, the forward looking information and accordingly, no assurance can be given that any of the events anticipated to occur or transpire form the forward looking information will provide any benefits to the Corporation.
For further information please contact:
Primary Contact
Tyrone Docherty
President
Golden Odyssey Mining Inc
(604) 952 7221
tyrone.doccap@dccnet.com
Investor Relations
Barry Kaplan Associates
(732) 747-0702 Phone
(732) 758-1837 Fax
smallkap@aol.com
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Source: Golden Odyssey Mining Inc. (TSX-V GOE)
Maximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com