TSX Venture Exchange
Symbol: CTG
Frankfurt Exchange
Symbol: DFP.F
VANCOUVER, Jan. 30 /CNW/ - Global Minerals Ltd (TSXV:CTG, Frankfurt:DFP) is pleased to announce the initial drilling results for its Quarter Horse Jerritt Canyon Nevada Project:
STRONGLY ANAMALOUS GOLD VALUES ENCOUNTERED
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Strongly anomalous gold values within upper plate rocks were returned from hole QH07-5, including 115 ft @ 136 ppb Au (including, internally, 20 ft @ 229 ppb, and 10 ft @ 244 ppb Au). The highest 5-foot interval within this zone was 381 ppb Au (0.011 opt). Local, very strongly anomalous arsenic-antimony intervals were penetrated including 25 ft averaging 424 ppm As and 80 ppm Sb. These levels of gold and trace elements are considered very strongly anomalous in upper plate rocks of the Jerritt District, and may represent "leakage" from a gold-mineralized system at depth. Please see the drilling results summary below:
2007 Global Minerals Drilling Program Data Summary
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Planned
Depth T.D. Gold Interval
Hole No. Target (ft) Angle (ft) (ft@ppb Au) (from-to) Comments
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QH07-1 North 1,000 -90 1,000 20'@206 ppb 265'-285' 100+ gpm
Limb water
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5'@107 ppb 430'-435'
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5'@119 ppb 690'-695'
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5'@142 ppb 800'-805'
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10'@104 ppb 860'-870'
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5'@155 ppb 945'-950'
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5'@232 ppb 965'-970'
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QH07-2 North 1,000 -90 385 5'@106 ppb 335'-340' 100+ gpm
Limb water,
lost hole
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QH-3 Main 1,200 -90 0 Not
Resource Drilled
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QH-4 Main 1,200 -90 0 Not
Resource Drilled
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QH07-5 South 1,200 -90 305 115'@136 170'-285' 100+ gpm
Limb ppb water,
caving,
lost hole
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Incl 20'@ 170'-190'
229 ppb
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Incl 5'@ 170'-175'
381 ppb
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Incl 10'@ 210'-220'
244 ppb
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QH07-6 South 1,200 -90 305 None 100+ gpm
Limb greater than water,
100 ppb caving,
lost hole.
70'-95',
25'@424
ppm As,
80 ppb Sb
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QH07-6A South -90 265 Not assayed 100+ gpm
Limb water,
caving,
lost hole
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Five reverse circulation holes were completed for a total of 2,260 ft. Difficult drilling conditions (caving and very high water flows) resulted in only one of the six planned holes reaching target depth. Three of the holes were lost before reaching the lower plate; however, two of the holes reached lower plate Roberts Mountains and Hanson Creek carbonates, and moderately to strongly anomalous gold values were encountered, including 20 ft @ 206 ppb Au. A promising 5-foot interval ran 281 ppb Au (0.008 opt). Arsenic and antimony showed scattered anomalous zones, ranging up to 25 ft @ 332 ppm As, and 25 ft @ 46 ppm Sb.
Three target zones were identified for drilling within the Quarter Horse Ranch Project in 2007. These targets possess gold and trace element soil anomalies that correlate very well with northwest trending structures defined by gravity and CSAMT surveys, and the intersections of these structures and the prominent northeast trending Williams fault. The target areas are similar in size to deposits which have been discovered in the past in the Jerritt Canyon district. Two vertical reverse circulation drill holes were proposed to test each target, for a total of six holes. Drill holes were planned to reach depths ranging from 1,000 to 1,200 feet, for a total of approximately 7,000 feet.
It is recommended that additional, follow-up drilling be performed adjacent to hole QH07-5. Drill holes that were lost before reaching target depth still remain viable targets, and should be re-drilled. Anticipated difficult drilling conditions will require either flooded-reverse circulation or core drilling methods to reach target depths of approximately 1,000 ft. Additional high-value targets remain to be tested throughout the main Quarter Horse Ranch property, as well as the Damn claims to the south.
ABOUT QUARTER HORSE PROJECT
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The Global Minerals Ltd. Quarter Horse Ranch Project is a Carlin-type, sediment-hosted gold prospect located on the western flank of the Independence Range in north-central Elko County, Nevada. The Project is located within the Jerritt Canyon Mining District, which has produced more than 7,000,000 ounces of gold since production began in 1981. The Project controls 2,735 acres of fee surface, fee mineral, and unpatented mining claims through a mining lease and surface use agreement.
The geology at the Quarter Horse Ranch property is dominated by upper plate Snow Canyon formation sandstones, chert and argillite, through which "windows" of lower plate carbonates are exposed along a northeast-trending structural corridor formed by the Williams, Mill Creek, and Van Norman faults, major Jerritt Canyon District faults. The Westley window exposes lower plate Hanson Creek and Roberts Mountains Formations which host the bulk of the gold mineralization in the Jerritt Canyon District. Important ore controls within the district include the intersections of the northeast faults with northwest cross faults within this stratigraphy.
Since 1986, exploration of the Quarter Horse Ranch property has been performed by Westley Explorations Inc. and Radcliffe Resources Ltd., Meridian Gold Inc., Amax Gold Inc., Rio Algom Exploration, Inc., Granges/Vista Gold, and Uranerz/Cameco (U.S.) Inc. Sixty-seven exploration holes have been drilled, for a total of 44,517 feet. Geologic mapping, extensive soil, rock and float chip geochemical sampling, as well as helicopter EM and gravity geophysical surveys have outlined target zones with geologic, structural, and geochemical characteristics very similar to the nearby Jerritt Canyon deposits. A small resource of approximately 465,000 tons @ 0.033 opt Au (using a 0.01 opt Au cutoff) has been delineated within the Westley window in the central portion of the property (historic, N.I. 43-101 noncompliant calculation).
Global Minerals' target at Quarter Horse Ranch is a structurally-controlled, Carlin-type, sediment-hosted, replacement-type gold deposit, similar to Yukon-Nevada Gold's (TSX:YNG) SSX mine. SSX is a high grade underground deposit containing 2.8mm oz of gold at a grade of 0.3 opt. The ore body strikes N70W, and is hosted within Hanson Creek carbonate rocks and a Pennsylvanian age basaltic dike of the same orientation. SSX is a compact orebody located 500 to 1000 ft below the surface. The surface projection of the 0.2 opt Au envelope has a strike length of only 2000 ft and a width of 600 ft.
Global Minerals initiated exploration at the Quarter Horse Ranch project in 2006. Available historic data including geologic mapping, soil and rock chip geochemistry, geophysics, and drill hole data were compiled, validated, and incorporated into an ArcGIS project database. Field work included two gravity surveys and two controlled source audio-magnetotelluric (CSAMT) surveys over the main Quarter Horse project area and the Damn claim block to the south. A soil sampling program was undertaken across the Westley window, and limited mapping and rock chip sampling was also performed.
Global Minerals is a Canadian-based company with focus on the acquisition, exploration and development of mineral property interests.
This press release was prepared by George Heard, B. Sc., MBA, P. Eng, a qualified person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Global Minerals Ltd.
"George Heard"
George W. Heard
President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this release.