Dec 13 2010
Augen Gold Corp. (TSX VENTURE:GLD) announces that it will drill several deep holes in early January within that portion of the eastern part of its South Swayze Property located near the Cote Lake Gold Deposit.
Total number of holes planned is now 18, adding another 2,750 metres to the drilling schedule for a planned total of 5,750 metres.
Augen Gold will test for the northerly extension of the Cote Lake Gold Deposit, with five vertical drill holes positioned near Augen Gold's mutual claim boundary with Trelawney, and approximately 275 to 350 metres northwesterly to northerly of a series of gold-bearing drill holes completed by Trelawney this year, including hole ER-33 with 520.3 metres of 1.44 g/t Au.
The deep drill holes will be positioned approximately one hundred metres apart, each with a planned depth of up to 500 metres. These holes will compliment Augen Gold's ongoing thirteen-hole, 3,000 metre drilling program that is targetting Soil Gas Hydrocarbon (SGH) gold soil anomalies, I. P. chargeabilty anomalies and sulphide-bearing zones exposed by mechanical stripping of outcrop several hundred metres to the west, northwest and northeast.
Augen Gold has been successful in raising approximately $9.1 million in 2010 and is focused on achieving its exploration milestones. Since inception in October 2006, the Company has raised more than $20 million for the South Swayze Project.
The information contained in this news release has been prepared by Augen Gold's Project Geologist, Gordon McRoberts, P.Geo., who is a Qualified Person for the Company's Jerome Project under the definitions established by National Instrument 43-101. The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource.
Source: Augen Gold Corp.