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EXPLORATION UNDERWAY AT THE LADNER GOLD PROJECT

New Carolin Gold Corp.(LAD.V) has provided the following updates. The first stage of its 2016 exploration program at the Ladner gold project is under way. Key points are:

  • Use of ultra-high-precision drone-based laser surveying of underground workings across more than 10 kilometres of mine workings on four levels;
  • Geological mapping, including detailed geochemical assaying of mineralized zones and definition of ore-controlling structures;
  • Definition of drill targets for upcoming 2016 drill program.

Underground surveying commenced on June 1 and is being carried out by Ontario-based Clickmox Solutions. Completed survey data are anticipated by June 15, 2016, after which the company will commence underground mapping and sampling. Drilling will commence after receipt of assay results and updating of the 3-D models.

“We are back under way with a capable exploration team on the ground at Carolin and look forward to executing scheduled exploration programs,” said Bob Thast, New Carolin Gold’s chief executive officer. “The last exploration program underground at the Carolin was a drill program completed between 1994 and 1996 by Athabaska Minerals, who planned to take the mine back in production, but falling gold prices prevented them from executing the plan. The company commissioned a 3-D geological model in late 2014, utilizing all available data from the combined $3.5-million Athabaska drill program and historical drill data that led to the development of the Carolin mine. With the collective historical drill data and critical new data from underground surveys, mapping and sampling, the company will be able to complete the 3-D geological models, which will not only assist in constraining the existing Carolin resource, but serve as an effective guide for the upcoming drill program and for future exploration programs.”

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