Mar 5 2011
Argus Metals Corp. (TSX VENTURE:AML) releases a new Transient electromagnetic survey ("TEM") geophysical model of the "Sulphide Feeder Zone" on the Hyland Gold Project, Selwyn Basin, Yukon Territory.
The results of the 2010 TEM survey identified a strong geophysical conductor coincident with the 2 kilometres (km) long surface expression of the Sulphide Feeder Zone which has been defined to extend to a depth of at least 450 metres (m). In further Hyland Gold District developments, Argus has been granted authority by the Yukon Government to build a winter road to the Hyland Gold Project and this winter road has opened and efforts now are underway to pre-supply fuel and equipment in support of the 2011 Hyland Gold Project and Hyland Gold District exploration season.
Argus has received and reviewed the results of the Hyland Gold Project TEM geophysical survey, completed in the Fall 2010. The survey was designed to investigate the downward continuity of the "Sulphide Feeder Zone" which was identified over a 2km strike on surface and locally through drilling to a depth of 120m. The survey defined a conductive body that extends from a depth of 150m to the maximum survey depth at 450m and is continuous over the 2km strike of the structure.
The Hyland Gold Project winter road is now open and the Company is mobilizing over fuel, an AtlasCopco P4 CS1000 drill rig with all associated materials and consumables required for the 2011 Hyland Gold Project and Hyland Gold District exploration campaign and Hyland camp expansion. These equipment and supplies will be used in support of a minimum 4,000m of drilling on the Hyland Gold Project as well as regional surveys and prospecting on the newly staked "Ike" and "Tina" claim blocks (previously called the Spartan and Spy blocks).
With the Ike and Tina Claim blocks confirmed, Argus represents the largest mineral claimholder in the Hyland District. The Company's 2000+ claims target sediment hosted gold in the Selwyn Basin.
President Michael Collins comments, "Argus is eager to follow up last year's impressive results at the Hyland Gold Project. Similar to Atac's Osirus project, Argus is targeting sediment hosted gold in the Selwyn Basin and with the expansion of the Hyland Gold Project as well as the identification and staking of the Ike and Tina Projects, the Company has a wealth of high priority drill and regional targets we believe will add value and market recognition."
Paul D. Gray, P.Geo. is the Company's Qualified Person with respect to the Hyland Gold Project and has reviewed and approved this press release.
Source: Argus Metals Corp.