VANCOUVER, British Columbia, Nov. 16, 2004 (PRIMEZONE) -- Steven Schurman, Professional Geologist, CEO and Director, reports:
Table 1 shows assay results from the first 12 diamond drill holes (holes 1 to 6 previously released) on the Brett Gold Project, near Vernon in Southwest British Columbia, Canada.
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Diamond from to length grade grade
Drill Hole feet feet feet Ounce/t Grams/t
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04-01 149.5 155.0 5.5 0.640 21.96
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170.0 183.0 13.0 0.101 3.46
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149.5 183.0 33.5 0.154 5.28
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04-02 173.9 178.8 4.9 0.082 2.81
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198.5 203.4 4.9 0.063 2.16
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236.2 246.4 10.2 0.992 34.02
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208.3 246.4 38.1 0.303 10.39
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273.3 277.2 3.9 0.137 4.70
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282.0 297.0 15.0 0.063 2.14
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470.8 475.7 4.9 0.037 1.27
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04-03 129.6 134.5 4.9 0.030 1.03
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228.0 232.9 4.9 0.030 1.03
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508.5 513.5 4.9 0.037 1.27
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04-04 134.5 139.4 4.9 0.045 1.54
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267.4 272.3 4.9 0.035 1.20
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04-05 86.9 91.9 4.9 0.104 3.57
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04-06 195.0 210.0 15.0 0.076 2.61
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352.7 357.0 4.3 0.303 10.39
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04-07 308.4 313.3 4.9 0.148 5.07
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447.2 451.1 3.9 0.073 2.5
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466.9 474.1 7.2 0.074 2.54
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04-08 342.8 347.8 4.9 0.029 0.99
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352.7 357.6 4.9 0.129 4.42
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357.6 362.5 4.9 0.049 1.68
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656.8 662.1 5.2 0.038 1.3
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04-09 274 279.5 5.6 0.033 1.13
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378.9 388.8 9.8 0.037 1.27
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04-11 157.8 162.4 4.6 0.056 1.92
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397.0 406.8 9.8 0.042 1.44
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04-12 417 421.6 4.6 0.055 1.89
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449.5 455.1 5.6 0.034 1.17
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488.5 492.8 4.3 4.724 162.0
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- 04-12 check assay 5.104 175.0
Diamond Drill Holes 7 to 12 were designed to continue testing the intersection between several previously identified lower-grade (0.03 to 0.07 ounce per ton gold) gold-bearing tuffaceous beds and the main northwest-trending shear to establish the number of these flat-lying tuffaceous beds that occur within 600 feet (130 metres) of surface and confirm the displacement across the main shear. DD Hole 04-07 and 40-08 were drilled east, perpendicular to the main shear at the north end of the previously traced shear. Both holes intersected several tuffaceous beds with significant intersections being obtained between granitic dikes. The main shear was not readily identifiable in the holes.
DD Hole 04-07 intersected 4.9 feet grading 0.148 ounce per ton gold, 3.9 feet grading 0.073 ounce per ton gold and 7.2 feet grading 0.074 ounce per ton gold.
DD Hole 04-08 intersected 4.9 feet grading 0.129 ounce per ton gold on three lower-grade intersections. The holes are located approximately 1,500 feet northwest of the previously released results. It should be noted that these intersections are located in stratigraphy significantly higher than the previous intersection, probably due to a northeast-trending fault that lies 50 metres south of holes 04-07 and 04-08. At the current time, the east distance of the offset is unknown. Also noted for the first time on the property was the presence of a thick 165-foot (50-metre) sedimentary tuffaceous horizon in the top of the holes, which marks the contacts between the older and younger volcanics. This is an extremely important marker unit, never before recognized in the area, as several gold deposits in the Washington State "Republic Gold Camp" associated with similar-age volcanics are found close to this type of marker. The unit, although highly altered, returned no significant gold assays.
DD Holes 04-09 and 04-10 were drilled 300 feet north of holes 04-03 and 04-04. The holes were designed to test a previously identified barren area. Both holes intersected several tuff beds with only low-grade intersections (0.03 to 0.07 ounce per ton gold) being returned in hole 04-09. This also appears to further confirm a southwest plunge to the high-grade ore. Of note in hole 04-10 was a 40-foot-wide zone of intensely silicified and heavily pyritized breccia, which is anomalous in arsenic. The zone returned no significant gold values, but the presence of high arsenic and the strong alteration warrant further follow-up. It is common to find barren highly altered and arsenic-rich zones in proximity to high-grade gold zones. The zone is even more interesting as it lies 600 feet east of the main shear in a previously unexplored area.
DD Hole 04-11 was collared 120 feet south of hole 04-06 on the footwall (east side) and drilled nearly vertical to determine the number and thickness of the tuffaceous beds on the footwall side. The hole was collared at a lower elevation than hole 04-06 and completed the stratigraphy missing due to DD Hole 04-06 stopping prematurely. Several additional tuffaceous beds were intersected and two low-grade intercepts were obtained.
DD Hole 04-12 was collared 500 feet south west of holes 04-01 and 04-02. The hole was designed to test a large gap in the previous drilling and test tuffaceous beds further east than previously drilled.
DD Hole 04-12 intercepted 4.3 feet grading 4.724 ounces per ton gold, with a check assay returning 5.104 ounces per ton gold, plus two other significant but lower-grade (0.03 to 0.07 ounce per ton gold) intercepts. This new zone located on a tuffaceous bed is located 160 feet (53 metres) east of the main shear zone and represents a totally new zone as none of the previous drill holes went as far east as this hole. The zone is cut off by several post mineral dikes in the core possibly indicating the presence of a second parallel shear structure. If so this would be the first confirmation of high-grade gold values (greater than one ounce per ton gold) on a parallel shear structure, opening the possibility that similar high-grade zones may be present, along the numerous other shears identified during surface work. The entire strike length of the shear zone is unexplored as none of the previous drill holes were near its projection.
The Brett Gold Project now covers approx. 20 square kilometers, with extensive exploration work totaling more than $4,000,000, including 178 drill holes, mostly on the Bonanza Zone which is approx. 700 feet of the 4,500 foot Main Shear Zone (traced strike length). As reported in the independent NP 43-101 Technical Report (available at www.foxgold.ca " Hole 93-19, a reverse circulation hole, returned an intersection of 16.76m grading 35.79 gms Au/tonne (55 feet grading 1.045 oz Au/ton) including 3.048 m grading 57.88 gms Au/tonne (1.69 oz Au/ton) and 4.57 m grading 107.88 gms Au/tonne (3.15 oz Au/ton) within the Main Shear."
In 1996 a 291 ton bulk sample was shipped to the Cominco Smelter in Trail, BC and returned an average net recovered grade of 0.820 ounces per ton of gold and 2.25 ounces per ton of silver. There are at least three gold mineralized shears/faults, and the Main Shear Zone is the only shear which has been explored significantly. Overall there are five mineralized gold zones identified on the Brett Gold Project, with an additional untested 38 gold in soil anomalies.
New geochemical gold anomalies have been mapped further east in another New Zone, along one of the newly identified shears and will be one of the targets of the next round of detailed geochemical, trenching, and diamond drilling.
All holes have now been logged and sent for assay, with results from holes 04-13 to 04-17 expected shortly. A total of 93 intersections from previous drilling have also been logged and sent for re-assay. The results of the drilling and soil geochemistry to date are confirming the new model and opening up large areas of the property for additional exploration.
The Brett Gold Project is a 50-50 joint venture between Running Fox (TSX:RUN) and Mosquito Consolidated Gold Mines (TSX: MSQ), with further details regarding the 2004 Diamond Drilling Program to be released as more assays are received. Visit www.foxgold.ca for more info.