VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2013) - Meadow Bay Gold Corporation ("Meadow Bay Gold" or the "Company") (TSX:MAY)(OTCQX:MAYGF)(FRANKFURT:20M)(WKN A1C3DN) is pleased to report additional assays from recent drilling at its Atlanta Gold Mine Project, Lincoln County, Nevada.
Along with the previously reported Hole DHRC-12-MRC01, holes MRC02, MRC03 and MRC04 were intended to confirm and offset results from the 2011 drill program. Previous drilling to the northwest of the historic Atlanta pit in 2011 encountered unusually thick widths of mineralization in the Atlanta shear zone. Assay results received from ALS Minerals confirmed the width and grade of the shear zone mineralization. However, it should be emphasized that holes MRC02, MRC03 and MRC04 terminated in mineralization and consequently are at best a minimum approximation of the extent of the shear zone mineralization.
Below is a table summarizing the significant drill results from the 2012 drill program:
|Drill Hole||Area||Total Depth
|DHRC-12-MRC01||Jasperoid Breccia NW of Pit||349.00||281.94||349.00||67.06||2.25||14.3|
|DHRC-12-MRC02||Jasperoid Breccia NW of Pit||271.27||225.55||271.27||45.72||1.07||4.8|
|DHRC-12-MRC03||Jasperoid Breccia NW of Pit||318.52||283.46||318.52||35.06||2.12||5.3|
|DHRC-12-MRC04||Jasperoid Breccia NW of Pit||298.70||271.27||294.13||22.86||3.27||3.6|
|*True Width has not been determined.|
Robert Dinning, Chairman, commented, "In addition to these drill results, Meadow Bay continues to make progress with its Plan of Operation as submitted to the Bureau of Land Management. We expect 2013 to be a year of progress at both our flagship Atlanta Project as well as at the adjacent Western Knolls where we intend to initiate discovery drilling later this year."
Dana Durgin, P.Geo., a Qualified Person as defined by National Instrument 43-101 and independent consultant to the Company, has reviewed the contents of this press release.
Meadow Bay Gold is focused on developing the former producing Atlanta Gold Mine in Nevada, USA. Permitting for the next round of exploration drilling is ongoing.
This release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking information includes, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the calculation of a new mineral resource estimate.
Often, but not always, forward-looking information can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate" or "belief" or describes a "goal" or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking information is based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen breakdowns, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold and silver; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.