TORONTO, ONTARIO--(Marketwire - May 11, 2012) - F.D.G. Mining Inc. ("FDG" or the "Company") (TSX VENTURE:FDG) is pleased to announce results from five core holes drilled to test mineralization on the Brazil and Dos Amigos veins. Drill hole 12-19, designed to undercut high grade results from trenches FT 211 and FT 212 on the Brazil vein, intercepted 6.7 meters grading 3.61 g/t gold and 15.17 g/t silver including 2.7 meters at 8.05 g/t gold and 34.49 g/t silver. Mineralization in Brazil vein drill holes 12-20, 12-21 and 12-22, although of significantly lower grade, demonstrates continuity with mineralization identified in trenches at the surface. The 20 meter intercept of low-grade gold and silver mineralization in 12-21 is an example of mineralization hosted in the altered volcanic rock that encloses the vein. Drill hole 12-23 was designed to test the heretofore undrilled southwest extension of the Dos Amigos vein. Although the drill hole encountered intermittent zones of strongly silicified andesite and low to moderate grades of silver mineralization, the Dos Amigos vein was not intercepted.
Drilling, including that of FDG and previous workers, has so far tested 300 meters of the southwestern end of the almost three kilometer long Brazil vein. The results from hole 12-19, the farthest northeast drill hole to test the Brazil vein, indicate that gold and silver mineralization is open to the northeast and at depth. Northeast of hole 12-19 eight historical trenches extend gold mineralization grading 2-3 g/t for an additional 300 meters along the Brazil vein. Nine hundred meters further to the northeast two FDG trenches, FT218 and FT219, returned gold mineralization at similar grades over significant widths. A recently signed access agreement allows FDG to continue work on the northeast extension of the Brazil vein.
The Brazil vein is located approximately 500 meters southeast of and parallel to the Topacio vein, which hosts an inferred resource of 680,000 tonnes of 5.2 g/t gold and 34 g/t silver. The projected extension of the Dos Amigos vein lies approximately 270 meters north of the Topacio vein. All thicknesses quoted in the text and in the following table are based on downhole depth measurements and therefore represent apparent thickness. True thickness of the intercepts will be somewhat less.
| Drill Hole | From (m) |
To (m) |
Interval (m) |
Au g/t | Ag g/t | Vein | |
| 12-19 | 31.50 | 38.20 | 6.7 | 3.61 | 15.17 | Brazil | |
| including | 35.50 | 38.20 | 2.7 | 8.05 | 34.49 | ||
| 12-20 | 49.50 | 51.00 | 1.5 | 0.17 | 3.30 | Brazil | |
| 12-21 | 25.30 | 31.30 | 6.0 | 0.25 | 5.68 | Brazil | |
| and | 43.00 | 63.00 | 20.0 | 0.28 | 2.84 | ||
| including | 44.00 | 46.00 | 2.0 | 0.91 | 3.85 | ||
| and | 61.00 | 63.00 | 2.0 | 0.54 | 2.05 | ||
| 12-22 | 32.70 | 34.30 | 1.6 | 0.36 | 3.33 | Brazil | |
| 12-23 | 168.00 | 171.00 | 3.0 | 0.07 | 2.91 | Dos Amigos | |
| and | 195.10 | 196.50 | 1.4 | 0.23 | 1.00 | ||
Under FDG's QA-QC procedures samples are submitted for re-analysis based on their proximity to a certified reference standard that returns a gold value greater than three standard deviations higher or lower than the mean value for that standard. In addition, any two consecutive reference standards falling outside the two standard deviation threshold will be considered to have failed. Since every twentieth sample is a reference standard, ten samples above and below a failed standard will be re-analyzed. The same protocol will be applied to duplicate samples considered to have unacceptably divergent gold values. Periodically, random samples will be submitted to another laboratory as an external check on the results provided by the primary lab. The analytical results received from Inspectorate and disclosed in this news release have been reviewed by Robert Suda, P. Geo., Vice-President of Exploration of the Company and a Qualified Person as defined under National Instrument 43-101 ("NI 43-101").
About FDG Mining Inc. (www.fdgmining.com)
FDG Mining Inc. is a Canadian junior mining company engaged in acquisition, exploration and development of precious metal properties in Nicaragua. The Company is currently focused on advancing its core property, the past-producing 9300 hectare Topacio gold concession. Topacio has an NI 43-101 compliant inferred resource of 680,000 tonnes grading 5.2 g/t gold and 34 g/t silver, and a similar geological setting to B2Gold's La Libertad and El Limon mines to the northwest. FDG trades on the TSX Venture Exchange under the symbol FDG.
On Behalf of the Board of Directors
Daniel T. Farrell, President and Chief Executive Officer
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Daniel T. Farrell
President and Chief Executive Officer
(414) 479 4433
www.fdgmining.com