Golden Tag Resources Ltd.: Ground Work to Commence on Aquilon Extension 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) announces that the Company has initiated a program of surface explorationin the area of the main Aquilon property, 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. The program is designed to outline folded banded iron formation Banded iron formations (also known as banded ironstone formations or BIFs) are a distinctive type of rock often found in primordial sedimentary rocks. The structures consist of repeated thin layers of iron oxides, either magnetite or hematite, alternating with bands horizons using ground geophysics over an area of approximately 10 sq. km. on claims referred to as the Aquilon Extension Property held jointly by Golden Tag (60%) and Sirios Resources Inc. (40%). A 1500 meter surface diamond drilling program to test favourable gold targets through the area is planned for April, 2006. The Banded Iron Formation ("BIF BIF In currencies, this is the abbreviation for the Burundi Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ") is known to occur immediately southwest of high grade quartz veining vein·ing n. Distribution or arrangement of veins or veinlike markings. documented on the contiguous main Aquilon Property to the north where Golden Tag is earning a 60% interest from SOQUEM and Sirios. The magnetic trend of the iron formation has been followed through airborne geophysical surveys through the Aquilon Extension property claims. In analogies with the Musselwhite deposit in north western Ontario and other known BIF-hosted worldwide, gold commonly occurs associated with magnetic destruction (weak magnetic signature) or in cross-cutting structures to the magnetic trends. Several of these features are observed in airborne surveys and will be followed up during the program. The area has seen no prior ground based exploration. The Company also announces that it has been granted a 12 month extension tothe original time period in the option agreement on the main Aquilon Property (see Golden Tag's news release of November 20, 2003). 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. does not accept responsibility for the ad equacy or accuracy of this release. Golden Tag Resources Ltd. (TSX VENTURE:GOG) |
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