Posted in | Gold | Silver

Golden Share Mining Updates on Berens River Property in Ontario

Golden Share Mining Corporation (TSX VENTURE:GSH) has provided an update on the Berens River Property in the Red Lake district of Northwestern Ontario, Canada, host to the past producing Berens River Mine which was operated by a subsidiary of Newmont Mining from 1939 to 1948 and produced 158,000 ounces of gold and 5.8 million ounces of silver as well as 1.7 million pounds of zinc and 6.1 million pounds of lead.

A late fall season field program was executed by Golden Share and successfully allowed the Company to obtain key information on the Property prior to the arrival of winter conditions and snow coverage. A team of three geologists was on site to maximize surface work and historical zones of high grade mineralization were located and sampled on surface. A total of 61 surface rock samples were collected and are currently being assayed. All possible existing drill hole collars were also located for future referencing of historical works.

Immediately following this field visit, a mandate was given to InnovExplo, a Val d'Or based geological and mining consulting group, for the realization of a thorough compilation of all previous drilling and underground data on the property. This part of the program will notably include the digitalization of all historical drill holes and underground workings from the No.1 and No.3 veins. Golden Share was able to obtain historical underground mining documents that will prove invaluable for the geological modelling. Based on Golden Share's fall field survey and the results of InnovExplo's compilation, a first pass drill program will be established with the objective to initiate drilling during Q1 2011.

Historical production on Berens River originates from the No.1 Vein and mining was executed by shaft No.1 sunk to a depth of 990 m; no production has been recorded below the 518 m level. A second shaft was sunk to a depth of 232 m on the No.3 Vein but has not yet entered into production. Gold and silver mineralization is associated with strongly silicified hydrothermally altered zones which have been developed in steeply dipping, fracture-shear-fault systems and considerable exploration potential remains as only two of the nine zones recognized so far on the property have been the object of production or detailed exploration.

Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a « Qualified Person » as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.

Source: Golden Share Mining Corporation

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