Dec 3 2010
G4G Resources Ltd. (TSX VENTURE:GXG) announced today that it plans to conduct a work program in order to better define its porphyry-copper-gold-silver properties located within ten kilometres of Port Alberni on Vancouver Island.
G4G will conduct a systematic mapping and geophysics program on the Macktush and Dauntless properties, which cover an area of 10,185 hectares. The Macktush property was acquired by the Company in 1987 and subsequent staking added the Dauntless property into the portfolio. G4G holds 100% of the Vancouver Island properties which total 13, 550 hectares.
Basil Botha, President and CEO of G4G remarked, "Our Port Alberni properties host excellent exploration targets for both high grade and bulk mineable deposits. In 1987 ten drillholes were completed. Hole DDH87-03 intersected 44.23 g/t gold, 172.80 g/t silver and 0.95% copper over 3.81 metres (Interval 36.59-40.39 metres)."
"Management believes that our properties in the Port Alberni area have a good chance of hosting mineralization similar to the Island Copper District, which hosts porphyry-copper-gold mineralization directly related to mesozonal to epizonal intrusions," continued Mr. Botha. "BHP's Island Copper mine, operated from 1971 to 1995, produced 1.3 million tonnes of copper, 31,000 tonnes of molybdenum, 340 million grams of silver and 32 million grams of gold (BHP, 1996) from a Copper-Molybdenum-Gold porphyry deposit. G4G's gold properties on Vancouver Island are accessible by road and are in close proximity to infrastructure."
G4G will focus on the "Rex" area (MINFILE 092F221), which the Company considers to be the most prospective un-drilled exploration target on the Macktush property at this time. The large aerial extents of the geophysical response, the alteration signature, and the sulphide mineralization along with the combination of elevated multiple geochemical indicators could represent the halo near a porphyry copper-molybdenum-gold. The geological setting is similar to that of past producing Island Copper Mine on Vancouver Island and will be used as a mineral deposit model for G4G's properties. The Rex area could also represent the source of high-grade vein-type gold-silver-copper mineralization seen nearby and drilled in past exploration campaigns.
Both the Island Copper district and the Port Alberni district are underlain by volcanic rocks of the same age and potentially host similar styles of mineralization.
All the properties have been explored primarily for gold, copper molybdenum and silver, targeting porphyry, skarn and epithermal vein type deposits. The contiguous block forming the Macktush, Dauntless and MC properties have NI 43-101 compliant indicated resources.
G4G Resources has an extensive database of the projects and after its revision is planning to conduct systematic work programs on all the properties to determine their overall potential. Work completed to date consists primarily of prospecting, hand trenching, airborne geophysics and diamond drilling.
The geological information in the news release has been verified by Raul Sanabria, P.Geo., who is the Qualified Person for G4G Resources Ltd. under NI 43-101.
Source: G4G Resources Ltd.