Golden Odyssey Mining Announces Positive Initial Drill Results.TORONTO -- Golden Odyssey Odyssey (ŏd`ĭsē): see Homer. Odyssey Homer’s long, narrative poem centered on Odysseus. [Gk. Lit.: Odyssey] See : Epic Odyssey Mining Inc. (Toronto Venture Exchange: GOE GOE Gathering of Eagles GOE Garden of Eden (Guns N' Roses song) GOE Grupo de Operações Especiais (Portuguese Special Force) GOE Government Of Egypt GOE Group of Experts GOE Gaussian Orthogonal Ensemble ; Pink Sheets: GODYF) is pleased to report the results of the initial drill campaign at its Palmetto palmetto or cabbage palmetto Tree (Sabal palmetto) of the palm family, occurring in the southeastern U.S. and the West Indies. Commonly grown for shade and as ornamentals along avenues, palmettos grow to about 80 ft (24 m) tall and have fan-shaped leaves. Project located on the Walker Lane Belt in Esmeralda County, Nevada Esmeralda County is a county in the west of U.S. state of Nevada. Its county seat is Goldfield6. As of 2006, the population is 1,262, making it the least populous county in the state. Its school district has no high school. . The project is located approximately 180 miles southeast of Reno and 180 miles northwest of Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. . Based on the positive results, reported below, management is preparing an immediate follow up plan for further exploration of this large, highly prospective land package. This work represents the first drilling ever done in the area and has confirmed the geologic and mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. models inferred from surface mapping and sampling. The initial drilling of the Phase One program has explored two geologically distinct target areas in differing, fault bounded, structural/stratigraphic domains: the Kentucky Mine target in the "Northern Domain" and the Camp Zone target in the "Southern Domain". Additional target zones are expected in both domains. The Kentucky Mine Target occurs in the Northern Domain which is characterized by multiple, subparallel, vein systems hosted by structural zones cutting brittle (jargon) brittle - Said of software that is functional but easily broken by changes in operating environment or configuration, or by any minor tweak to the software itself. Also, any system that responds inappropriately and disastrously to abnormal but expected external stimuli; e. , siliceous siliceous relating to or made of silica or a silicate. siltstones and cherts. Surface mapping and sampling indicated that the vein at the historic Kentucky Mine was approximately 12 feet wide and selective sampling of stockpiles at the shaft collar The shaft collar is a simple, yet important, machine component found in many power transmission applications - most notably motors and gearboxes. They are used as mechanical stops, locating components, and bearing faces. The simple design lends itself to easy installation. yielded highly anomalous a·nom·a·lous adj. 1. Deviating from the normal or common order, form, or rule. 2. Equivocal, as in classification or nature. gold values with a high of 2.6 ounces per ton as well as very strong base metal and pathfinder pathfinder /path·find·er/ (path´find?er) 1. an instrument for locating urethral strictures. 2. a dental instrument for tracing the course of root canals. path·find·er n. element signatures. Four shallow core holes (194', 264', 160' and 169') were drilled in two fences as an initial test of the target model. Three of the holes intersected the vein and/or the structural zone. Hole #4 was lost due to bad ground before reaching the target depth. The goals of the drilling were twofold. First, to confirm the down dip and strike projections of the vein and the host structural zone and second, to confirm that the geochemical signature developed from the surface sampling persists at depth. This work has confirmed the strike and dip Strike and dip refer to the orientation or attitude of a geologic feature. The strike of a stratum or planar feature is a line representing the intersection of that feature with the horizontal. projections of the vein and the host structural zone. Vein intercepts vary from 15 feet to 5 feet confirming the "pinch and swell" nature common in vein systems. Additional work is required to determine the geometry and trend of the thicker mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zones. The host structural zone is considerably wider than the vein intercepts and consists of multiple anastamosing fractures and shears shears cutting instruments for the removal of wool—sheep shears, or for trimming the hooves of sheep and goats—hoof shears. hoof shears a rugged pair of shears like secateurs but with sharp-pointed blades. . Analyses of visually mineralized intervals are summarized in the following table.
Hole No. Gold Silver Arsenic Copper Lead Antimony Zinc
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(PPB) (PPM) (PPM) (PPM) (PPM) (PPM) (PPM)
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PKC-1 (27 total samples)
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Anomaly Threshold 25 1.0 50 100 100 15 100
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Total Anomalous Samples 7 14 3 21 7 3 22
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Mean Value 208 14.2 79 423 1350 21 365
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High Value 1017 43.8 109 1284 4135 26 907
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PKC-2 (67 total samples)
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Anomaly Threshold 25 1.0 50 100 100 15 100
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Total Anomalous Samples 18 42 9 30 5 1 41
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Mean Value 70 6.2 252 259 928 NA 311
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High Value 636 166 693 1030 2225 115 1786
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PKC-3 (30 total samples)
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Anomaly Threshold 25 1.0 50 100 100 15 100
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Total Anomalous Samples 1 5 1 7 1 0 24
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Mean Value 210 1.2 NA 171 NA NA 283
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High Value 210 1.8 145 349 150 NA 853
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PKC-4 (33 total samples)
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Anomaly Threshold 25 1.0 50 100 100 15 100
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Total Anomalous Samples 0 8 1 9 1 0 27
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Mean Value NA 4.5 NA 274 NA NA 289
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High Value NA 27.1 1018 930 1546 NA 563
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From this data it is clear that the geochemical signature persists at depth. Additionally, visible mineralization and anomalous geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of occur both in veined material and in the host structural zone with no veining vein·ing n. Distribution or arrangement of veins or veinlike markings. present. These observations and analytical results confirm the presence of a strong, structurally controlled hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. system capable of producing wide mineralized veins. Synthesis and interpretation of this data is currently in progress. Additional mapping, sampling and drilling are planned at the Kentucky Mine Target and other identified vein targets within the Northern Domain. The Camp Zone Target is a disseminated disseminated /dis·sem·i·nat·ed/ (-sem´i-nat?ed) scattered; distributed over a considerable area. dis·sem·i·nat·ed adj. Spread over a large area of a body, a tissue, or an organ. gold target which occurs in a structural/stratigraphic domain (the Southern Domain) characterized by strataform alteration and mineralization hosted by a previously unmapped sequence of calcareous rocks calcareous rock: see limestone; marble. . This sequence has been interpreted to be several hundred feet in thickness and dipping gently to the southwest. This setting is consistent with that of bulk-mineable, disseminated gold deposits elsewhere in Nevada. Surface geochemistry from soil and rock chip sampling is strongly supportive of this model. Six widely spaced reverse circulation rotary holes (320' to 740 foot depths) have been completed to test the stratigraphic stra·tig·ra·phy n. The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks. strat section, the alteration assemblage assemblage: see collage. assemblage Three-dimensional construction made from household materials such as rope and newspapers or from any found materials. and geochemical signature at depth. Hole PCR PCR polymerase chain reaction. PCR abbr. polymerase chain reaction Polymerase chain reaction (PCR) 2 was lost due to caving before reaching target depth. The drilling has confirmed the presence of significant thickness' (260 feet to 555 feet) of interbedded calcareous rocks including shales, siltstones and limestones which would make ideal host rocks for disseminated mineralization. Alteration, consisting of localized bleaching bleaching, process of whitening by chemicals or by exposure to sun and air, commonly applied to textiles, paper pulp, wheat flour, petroleum products, oils and fats, straw, hair, feathers, and wood. , argillization and silicification si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. was encountered in most of the holes. In addition, the rocks are locally sulfidized with oxidation oxidation /ox·i·da·tion/ (ok?si-da´shun) the act of oxidizing or state of being oxidized.ox·idative ox·i·da·tion n. 1. The combination of a substance with oxygen. 2. as deep as 570 feet. The reverse circulation holes were sampled in 5 foot intervals from the collar to the T.D. The following table summarizes the results of this sampling.
Hole No. Gold Silver Arsenic Copper Lead Antimony Zinc
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(PPB) (PPM) (PPM) (PPM) (PPM) (PPM) (PPM)
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PCR-1 (149 total samples)
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Anomaly Threshold 15 1.0 50 100 100 15 100
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Total Anomalous Samples 10 46 9 10 0 8 48
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Mean Value 54 3.2 67 1492 NA 68 483
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High Value 217 38.6 114 7648 NA 183 815
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PCR-2 (63 total samples)
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Anomaly Threshold 15 1.0 50 100 100 15 100
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Total Anomalous Samples 12 0 3 0 1 8 6
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Mean Value 20 NA 76 NA NA 29 236
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High Value 28 NA 102 NA 137 51 725
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PCR-3 (120 total samples)
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Anomaly Threshold 15 1.0 50 100 100 15 100
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Total Anomalous Samples 14 23 3 4 0 0 6
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Mean Value 22 1.2 56 261 NA NA 141
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High Value 36 1.6 60 483 NA NA 221
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PCR-4 (120 total samples)
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Anomaly Threshold 15 1.0 50 100 100 15 100
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Total Anomalous Samples 10 11 7 13 2 7 6
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Mean Value 21 2.3 158 555 177 61 146
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High Value 27 7.5 318 3113 240 173 184
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PCR-5 (140 total samples)
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Anomaly Threshold 15 1.0 50 100 100 15 100
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Total Anomalous Samples 8 11 13 7 0 4 7
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Mean Value 29 1.2 74 170 NA 27 154
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High Value 48 1.5 123 326 NA 36 246
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PCR-6 (100 total samples)
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Anomaly Threshold 15 1.0 50 100 100 15 100
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Total Anomalous Samples 10 2 2 2 0 0 4
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Mean Value 48 5.3 53 108 NA NA 131
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High Value 195 9.3 53 108 NA NA 149
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From this data it is clear that the model developed from the initial surface work is valid and that the hydrothermal system is wide spread. Additionally, the base metal and pathfinder element signatures persist at depth and are more robust than the original surface data. Following synthesis and interpretation of the drill data, detailed mapping, sampling and additional drilling are planned over much of the Southern Domain. The planned work in both domains will complete the Phase One program at Palmetto and will result in a 43-101 compliant report detailing the results and recommending further work if warranted. ABOUT GOLDEN ODYSSEY The Corporation is engaged, through its subsidiary, Golden Odyssey Exploration Inc., in gold exploration in the State of Nevada. The Corporation currently has two active exploration projects, Palmetto and Morningstar, both located in the Walker Lane Belt, Esmeralda County, Nevada. At Palmetto, the Company holds 114 unpatented mining claims and leases 43 existing patented and unpatented mining claims. At Morningstar, the Company holds 77 unpatented mining claims and leases 22 existing unpatented mining claims. The Palmetto Project includes the majority of the historic Palmetto Mining District and is located about 50 miles southwest of Goldfield, Nevada Goldfield is the county seat of Esmeralda County, Nevada. It is about 170 miles southeast of Carson City, along U.S. Highway 95. As of the 2000 census, the Goldfield area population was 440, almost half of the county's population, though for several years in the early 20th century . The Morningstar Project includes the historic Morningstar District and is located about 30 miles southwest of Goldfield, Nevada. Goldfield Goldfield, small town, SW Nev., a former gold-mining center. Gold was discovered there in 1902, and after an early period of disappointment, large yields of high quality gold were extracted. is located 260 miles southeast of Reno and 183 miles northwest of Las Vegas, Nevada. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Except for statements of historical fact relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Corporation, certain information contained herein constitutes "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 21E of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities Exchange Act of 1934, as amended. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating fluc·tu·ate v. fluc·tu·at·ed, fluc·tu·at·ing, fluc·tu·ates v.intr. 1. To vary irregularly. See Synonyms at swing. 2. To rise and fall in or as if in waves; undulate. v. metal prices, the possibility of project cost overruns Noun 1. cost overrun - excess of cost over budget; "the cost overrun necessitated an additional allocation of funds in the budget" cost - the total spent for goods or services including money and time and labor or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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