Oct 19 2010
Guinness Exploration (OTC Bulletin Board: GNXP) has reported that it has completed its 2010 drill program at its Charlotte Project near Mt. Nansen in the Yukon Territory, Canada.
Core drilling was conducted to confirm prior drill intercepts and to expand on known gold and silver mineralization along strike and down dip. The Company completed a total of 1,451.68 metres in fourteen diamond drill holes in the Flex zone, one of five known mineralized zones on the property.
The drill holes were chosen specifically to test a 450m strike length of the Flex Zone at various depths. The holes tested gold and silver grades and thicknesses to confirm previously drilled holes.
The Flex Zone occurs as two sub-parallel anastamosing quartz-sulfide vein systems, known historically as the "Hanging Wall" and "Footwall" veins. Veins host strong gold and silver mineralization associated primarily with pyrite and lesser arsenopyrite, stibnite, galena and sphalerite. Veins often exhibit propylitic, phyillic, argillic and silicic alteration in broad alteration envelopes.
The Flex Zone is hosted in an assemblage of metamorphic rocks comprised dominantly of quartz-feldspar+/-chlorite gneiss which grades locally into quartzite. Dark green amphbolite gneiss, comprised of equal parts plagioclase and actinolite, is commonly intercalated with the quartz-feldspar gneiss. These older rocks are cut by narrow quartz-feldspar dykes and sills. The north end of the Flex Zone, in the vicinity of 10-240 and 241, is underlain by a quartz-feldspar porphyry stock at depth.
Guinness management is extremely pleased with these initial results. Consulting geologist John Hiner commented, "We are well pleased with the level of gold and silver values, and the values match well with previous results. Although these intersections are not true widths, we have confirmed the mineralized zones in all five holes, and have increased mineralized thicknesses in three of the five holes reported to date. These zones are substantially wider than has been reported previously, and we believe we have now demonstrated that there is an excellent opportunity to define a bulk-mineable deposit at this project."
Results are pending for the remainder of the drill holes. When received and collated, these will be reported.
Further to the drill results, and as part of the confirmation and step out drill program, the Company conducted extensive excavator trenching on two new mineral targets. Results are arriving from the laboratory, and are in compilation. Once reviewed and confirmed, these will be reported as well.
Sources: Guinness Exploration