Golden Tag Reports New Gold Showing Found on Aquilon Property, James Bay, Quebec.MONTREAL -- Golden Tag Resources Ltd.(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:GOG) (the "Company") is pleased to announce very positive results from an initial evaluation program on the Aquilon Property in James Bay James Bay, shallow southern arm of Hudson Bay, c.300 mi (480 km) long and 140 mi (230 km) wide, E central Canada, in Nunavut Territory between Ont. and Que. Numerous rivers flow into the bay; many of these have been developed for hydroelectric power in Quebec (see , Quebec where the Company can earn a 60% interest in the Property from Sirios Resources Inc. and SOQUEM Inc. (see Golden Tag news release of November 20, 2003 for details).The purpose of the program was to review the geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. setting of known auriferous au·rif·er·ous adj. Containing gold; gold-bearing. [From Latin aurifer, gold-bearing : aurum, gold + -fer, -fer. zones and to prospect promising new exploration targets. Several grab samples Noun 1. grab sample - a single sample or measurement taken at a specific time or over as short a period as feasible sample - a small part of something intended as representative of the whole were taken over historical showings and returned assays of greater than 100 g/T Au. Prospecting to the east of previous work has identified a new gold showing - the Red Toad showing - which returned significant assays in two grab samples, 1691 g/T Au and 153 g/T Au. Known showings were examined and several were sampled during the program yielding the following results:
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Showing Sample Width Grade Width Grade
Type (m) (g/T Au) (ft) ozAu/t
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Fleur-de-Lys Grab n/a 694 n/a 20.24
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Channel 0.54 521 1.8 15.20
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Moman Grab n/a 216 n/a 6.30
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Lingo-Nord Grab n/a 1213 n/a 35.38
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Isabelle Grab n/a 299 n/a 8.72
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Muscovite Grab n/a 8.04 n/a 0.23
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Du Loup Grab n/a 75.3 n/a 2.20
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Sortileges
Dores Grab n/a 64.5 n/a 1.88
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Note: T = metric tonne, t = short ton
The Company is also pleased to report that several new high-grade
gold occurrences were found during prospecting near these known
showings. The best results are listed below:
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Proximity Sample Width Grade Width Grade
Type (m) (g/T Au) (ft) ozAu/t
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East of
Grenouille 1 Grab n/a 3.81 n/a 0.11
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Grab n/a 21.4 n/a 0.62
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Rumba Grab n/a 6.39 n/a 0.19
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Grab n/a 4.21 n/a 0.12
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East of Lingo Grab n/a 5.7 n/a 0.17
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These results extend the previously known mineralization trend within
these areas.
During the course of the program, the Company found a new high-grade
gold showing - Red Toad Showing - located approximately 500 meters to
the east of the bulk of previous trenching work conducted on the
property. A more continuous series of quartz veins anomalous in gold
has been traced over a 500-meter strike length within a large
intrusive tonalite in this area. The tonalite lies within the eastern
extension of the previously mapped and laterally extensive Wolf
Fault. Significant results returned from this area include:
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Showing Sample Width Grade Width Grade
Type (m) (g/T Au) (ft) ozAu/t
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Red Toad Grab n/a 1691 n/a 49.32
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Grab n/a 153 n/a 4.46
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Channel 0.8 8.38 2.6 0.24
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Channel 0.5 2.95 1.6 0.09
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Channel 0.33 2.19 1.1 0.06
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The Aquilon Project covers 6,370 hectares of a folded, highly
deformed greenstone belt hosting a felsic volcanic center with
auriferous mineralization. Previous work conducted by Sirios
Resources Inc. and SOQUEM (1997-2003) outlined numerous relatively
short, shallow-dipping high-grade (greater than 20 g/T Au) quartz
veins within the 4 km x 400 meter NE-oriented Wolf Fault. Very high
gold assays have been returned from some of these veins: 287.4 g/T Au
over 2.3 m and 110.2 g/T Au over 3.49 m. Three main types of
mineralization have been reported on the property:
1) High-grade gold veins within felsic rocks along the Wolf Fault:
Lingo, Grenouille I-II, Moman, Fleur-de-Lys, MA-1, Ete Indien,
Muscovite, Isabelle, Elle, Nouska, Z-1, Norvin and Samba
showings.
2) Low-grade gold-copper-zinc disseminated sulfide associated with
formational geophysical conductors: Sortileges Dores, Small
Moose, Choco, Blueberry Wolf, SL, and Chicoutai showings
3) Auriferous disseminated sulfides and quartz veins in mafic
volcanic rocks injected by felsic dikes in the hinge of
megafolds: Sortileges Dores showings.
The Company is currently planning an exploration program on the property, specifically within the Red Toad area where vein continuity, structure and the geological setting of 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. appears to be most favourable. The property is readily accessible year-round by a gravel road A gravel road is a type of unpaved road surfaced with gravel that has been brought to the site from a quarry or stream bed. They are common in less-developed nations, and also in the rural areas of developed nations such as Canada and the United States. which services the Laforge-1 hydroelectric dam. The exploration program was conducted and supervised su·per·vise tr.v. su·per·vised, su·per·vis·ing, su·per·vis·es To have the charge and direction of; superintend. [Middle English *supervisen, from Medieval Latin by Qualified Persons David Rigg, M.Sc.,P.Geo. Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. Robbins Rob·bins , Frederick Chapman 1916-2003. American microbiologist. He shared a 1954 Nobel Prize for work on the cultivation of the polio virus. , M.Sc.A. P.Geo. and Harold Desbiens, M.Sc. P.Geo. Samples were assayed by ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex Labs of Val d'Or Val d'Or (väl dôr), town (1991 pop. 23,842), SW Que., Canada, SE of Rouyn-Noranda. It is a mining center. Gold was discovered in the region in 1909; copper, zinc, lead, and molybdenum are also mined. and included analysis of standard and blank samples for QA/QC QA/QC Quality Assurance/Quality Control purposes. Channel samples were extracted between parallel diamond saw cuts taken perpendicular to the veins. Due to the high-grade High-grade Credit quality of AAA or AA. high-grade Of, relating to, or being a bond with little risk of default on the part of the issuer. High-grade is usually reserved for bonds rated AAA or AA by the rating services. nature of the mineralization metallic screen assays (Au-SCR21) were run on samples containing visible gold. Samples lacking visible gold were assayed by 30gm fire assay methods with Atomic Adsorption adsorption, adhesion of the molecules of liquids, gases, and dissolved substances to the surfaces of solids, as opposed to absorption, in which the molecules actually enter the absorbing medium (see adhesion and cohesion). analyses finish and repeated with gravimetric gravimetric /grav·i·met·ric/ (grav?i-me´trik) pertaining to measurement by weight; performed by weight, as a gravimetric method of drug assay. grav·i·met·ric adj. 1. finish in case of significant results. Golden Tag Resources Ltd. is a Montreal based Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. Mineral Exploration Company trading on 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. on a continuous basis since 1982. The company currently has 12.7 million shares issued and outstanding. On behalf of the Board of Directors, Signed by : Marc A. Carrier Marc A. Carrier, President The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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