Nov 22 2011
Ryan Gold Corp has reported initial anomalous gold-in-soil values of between 100 ppb and 1,392 ppb from the reconnaissance soil program conducted on the Kilo prospect in the Kluane project area during the 2011 exploration season. The Kilo prospect is one of seventeen claim blocks that make up the current Kluane project.
The Kilo prospect is located approximately 148 km northwest from the city of Whitehorse and within the Whitehorse Mining District of the Yukon Territory. The Kilo prospect initially comprised a total of 80 claims for 1,672 hectares.
This summer a total of 486 contour and ridge and spur soil samples were taken at 50 m sample spacing within the original Kilo claim block. Anomalous gold-in-soil values greater than 100 ppb gold, the upper 3% of the gold-in-soil values, and up to a maximum of 1,392 ppb gold were identified over the claim blocks covering an area of approximately 6 km by 5 km. The geology of the area is comprised of coarse to medium grained granodiorite and pegmatitic phases of the Ruby Range Batholith, 64 to 57 Ma, together with enclaves of metasedimentary and metavolcanic material possibly of the Finlayson Assemblage, 370 to 340 Ma. The metasedimentary material was seen to host disseminated pyrite, pyrrhotite and minor arsenopyrite.
The Company considers these to be extremely significant results, especially when put into context with those results for the Venus and Pluto claims announced in press release 11-13, November 16, 2011, and within the context of other regional soil sampling campaigns completed in the Yukon over the past three years.
With the very encouraging soil results both on, and surrounding, the Kilo Prospect, an additional 220 claims totalling 4,598 hectares have been staked to augment the Company's land position. Reconnaissance ridge and spur sampling will be conducted within this new area in the summer of 2012 and detailed soil grids and geological mapping will be completed over the main areas of interest. The expanded Kilo Prospect now totals 300 claims and 6,270 hectares.
Source: Ryan Gold Corp.