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DRILLING INTERSECTS 6.0 METRES OF 4.97 G/T AU INCLUDING 2.0 METRES OF 11.90 G/T AU AT CAROLIN

 

New Carolin Gold Corp. (LAD.V) has released initial results from the surface drilling program recently completed at its Ladner Creek project, located east of Hope, B.C.

Highlights of this work program

  • Hole CM-004 intersected six metres of 4.87 grams per tonne gold, including two metres of 11.90 grams per tonne gold.
  • Hole CM-001 intersected three metres of 1.83 grams per tonne, including 1.5 metres of 2.6 grams per tonne gold.

Three holes were drilled along the margins of a fold nose interpreted to control gold mineralization at the Carolin mine and in surrounding areas. Drilling was designed to intersect the on-strike continuity of gold mineralization originally targeted during historical underground mining. Holes 1, 2 and 4 all successfully intersected gold mineralization that had been predicted through recent geological modelling. Hole 3 intersected weakly anomalous gold mineralization and was drilled as an exploration hole west of the Carolin mine zone.

The current interpretation developed from underground and surface geological mapping this past summer suggests that higher-grade gold mineralization (as intersected in hole CM-004) occurs in fold hinges. Wider zones of gold mineralization intersected in holes CM-001 and CM-001 (CM-001 intersected 41.5 metres of 0.43 gram per tonne gold and CM-002 intersected 28.4 metres of 0.62 gram per tonne gold) occur above and near fold hinges and provide a useful vector to define the higher-grade corridors.

An interpretation suggests that the folded gold zone continues beyond the existing underground workings and has a high-grade core. These folds have been mapped across approximately six kilometres of the property and have documented high-grade gold occurring along the hinges. The company will continue to develop and refine the geological model in order to predict and delineate these higher-grade zones.

A complete list of significant intersections is provided in the attached table. A plan map and a cross-section through hole CM-001 are available on the company's website.

    GOLD VALUES REPORTED FROM SURFACE DRILL PROGRAM

Hole No.           Width*      From        To       Au  
                      (m)        (m)       (m)    (g/t)

CM-001              3.00      50.00      53.00    1.83    
CM-001     including1.50      51.50      53.00    2.60    
CM-002              3.80       8.00      11.80    1.30    
CM-002     including0.80      11.00      11.80    2.05    
CM-002     and      1.00      15.00      16.00    2.10    
CM-003     anomalous                                
CM-004              8.00      138.00    146.00    3.89    
CM-004              6.00      140.00    146.00    4.97    
CM-004     including2.00      144.00    146.00   11.90   

* Width indicates downhole core length and 
does not imply true width of the zone.

All technical information for the Carolin mine project is obtained and reported under a formal quality assurance/quality control program. A quality control gold standard of known value was randomly inserted every 25 samples along with a blank (zero-grade material) and a duplicate sample. The results of the assaying of the quality assurance/quality control material included in each batch are tracked to ensure the integrity of the assay data. Samples were transported to a secure storage facility in Hope, B.C., and shipped to Activation Labs in Kamloops, B.C., an accredited mineral analysis laboratory for preparation and analysis utilizing both fire assay and metallic screen methods.

R. Bob Singh, PGeo, exploration manager, is the qualified person responsible for the technical content of this news release.

About New Carolin Gold

New Carolin Gold is focused on the exploration, evaluation and development of its 100-per-cent-owned property, consisting of 144 square kilometres of contiguous mineral claims and Crown grants collectively known as the Ladner gold project. The company has an existing mine permit, water licences and tailings facility in place, as well as 10.5 kilometres of underground tunnels for exploration access.