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Mon, January 12, 2009 Carpathian Gold Inc.: Carpathian Drilling Intersects 16 m of 3.96 g/t Au, Including 2.8 m of 18.45 g/t Au on the RDM Gold Proje
TORONTO, ONTARIO--(Marketwire - Jan. 12, 2009) - Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") is pleased to announce further drill results from the 100% owned Riacho dos Machados gold project ("RDM") located in Minas Gerais State, Brazil. This project was acquired by Carpathian in October, 2008 (see press release dated Oct. 30, 2008) and a diamond drill program was completed in late 2008 consisting of 64 drill holes totaling 11,277 m. The first set of results from this program was released in November (see press release dated Nov. 4, 2008) and the results presented herein are from an additional 35 drill holes along with re-sampling results from 9 diamond drill holes completed by the previous operator, Companhia Vale do Rio Doce, ("Vale") prior to 1996.
Drill results from the current program have encountered strong gold mineralization below the existing shallow open-pit (maximum 60 m) which, in addition to confirming historical drill results from Vale, highlights significant widths of gold mineralization occurring immediately below the present open-pit as shown in drill hole FRM-12 which intersected 30.0 m at 2.01 g/t Au. In addition, drill results have extended the gold mineralization 500 m south of the existing open pit.
Based on the recently completed assays, highlight intersections recently received are listed below. All of these results represent the portion of the mineralized zone that is considered to be accessible through the deepening of the open-pit. A complete list of the assay results can be found at the end of this press release. A map showing the location of the drill holes completed can be found on the Corporation's website at [ www.carpathiangold.com ].
i) North Pit Area (known as Area V)
- 30.0 m at 2.01 g/t Au including 4.3 m of 7.68 g/t Au (hole FRM-12)
- 7.2 m of 3.61 g/t Au & 11.6 m of 2.14 g/t Au (hole F-75, re-sample drill core from Vale program)
- 15.6 m of 2.53 g/t Au including 4.9 m of 6.36 g/t Au (hole F-101, re-sample drill core from Vale program)
ii) Central Pit Area (know as Area IV)
- 14.1 m at 1.28 g/t Au including 2.5 m of 2.51 g/t Au (hole FRM-30)
- 12.8 m at 2.09 g/t Au including 2.0 m of 9.33 g/t Au (hole FRM-32)
- 6.9 m at 3.50 g/t Au including 3.0 m of 7.66 g/t Au (hole FRM-35)
- 9.8 m of 1.65 g/t Au including 2.7 m of 3.42 g/t Au (FRM-27)
iii) South Pit Area (known as Area III)
- 13.9 m at 3.66 g/t Au including 4.6 m at 9.25 g/t Au (hole FRM-26)
- 23.5 m at 1.23 g/t Au including 9.4 m at 2.53 g/t Au (hole FRM-31)
- 16.0 m at 3.96 g/t Au including 2.8 m of 18.45 g/t Au (hole FRM-33)
- 10.2 m at 3.75 g/t Au including 3.7 m of 5.64 g/t Au (hole F-103, re-sample drill core from Vale program)
iiii) Southern Extension Mineralization (south of the open pit)
- 6.4 m at 1.40 g/t Au (FRM-18)
- 4.6 m at 1.54 g/t Au (FRM-14)
- 4.8 m at 1.93 g/t Au (FRM-4)
Notes: Widths are approximate true thicknesses.
"We are encouraged by these results which continue to support management's vision of near-term production potential for the RDM Project", said Dino Titaro, President and CEO. "These results confirm the Vale data and our expectation that RDM could contain significantly more gold resources than that indicated from the historic Vale information. Ongoing work includes geologic modeling for a NI 43-101 compliant resource estimate to be followed by a preliminary economic assessment and feasibility study for a staged development of the deepening of the open-pit followed by a future underground operation. Given that the project already lies within a brownfield permitted Mining Concession with infrastructure in place, we believe an early-production profile can potentially be realized and have commissioned EIA and SIA studies."
The drill program completed in the fourth quarter of 2008 focused on the area of the previous open-pit operation along the known 1,350 m long gold zone and down to a vertical depth of approximately 200 m below the existing open-pit. In addition, the drill program also evaluated the possible southern extension of this gold zone by an additional 500 m. In 1996, the previous operator Vale, defined a 'historical resource' (non NI 43-101 compliant) of un-oxidized gold mineralization below the shallow open pits which mined oxide gold mineralization (see press release dated Nov. 4, 2008 and NI 43-101 Technical Report on the property dated February 29, 2008 and filed on [ www.sedar.com ]). Along with this drill program, re-sampling of several of the diamond drill holes completed on the property by Vale has been completed for verification purposes. The primary objective of this program is to obtain sufficient drill data to validate previous drill results, extend the gold zone along strike and define sufficient mineralization at an open-pit gold grade to justify deepening the current open-pit by approximately 200 m.
The gold mineralization at RDM is shear zone hosted, within a package of Precambrian aged metamorphic rocks. This shear zone strikes 20 degrees and dips 40 to 50 degrees west. The gold mineralization is known to be continuous over a strike length of 1,350 m and is open at depth to greater than 550 m at the RDM mine-site. The current drilling program has demonstrated that this mineralization is now continuous for a strike length of at least 2,000 m. Within the shear zone, which can reach thicknesses of up to 40 m, the gold mineralization often occurs as "stacked mineral zones" with cumulative thicknesses in the order of 15 to 20 m. Recent results continue to support the presence of these "stacked zones" and include drill hole intersections such as F-75 from Area V where the overall thickness of the shear zone is 47 m which includes 2 distinct gold mineralized zones totaling 18.8 m at a weighted average of 3.04 g/t Au. These stacked mineralized intersections all occur within the area being tested for purposes of deepening the existing open-pit.
Sample Protocol
All samples collected from Brazil are prepared and analyzed at the independent ISO Certified ALS Chemex laboratory, located near Belo Horizonte, Brazil using industry standard fire assay techniques for gold on 50-gram sample charges with AAS finish. Coarse blanks, pulp blanks, pulp duplicates, and known gold standards are inserted on a routine basis. They consist of 12% per cent of submitted samples. In addition, on a periodic basis 3% of the crusher rejects are re-submitted and a minimum of 3% of the pulps will be analyzed at the ISO Certified OMAC Laboratory in Ireland for check assays. All samples are from split NQ drill core sampled on a metre by metre basis through the mineralized zone and into surrounding altered rock.
Mr. Titaro is the qualified person (as defined in National Instrument 43-101) overseeing the design and implementation of the present exploration programs. He is responsible for preparing the technical information contained in this news release.
The Corporation is a mineral exploration company focused on gold exploration primarily on its property in Romania as well as gold exploration and development on its development-stage property in Brazil. The Corporation has 207,278,454 shares outstanding.
Forward-Looking Statements: This press release includes certain statements that may be deemed "forward-looking statements". Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Corporation expects, are forward-looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurance that forward-looking statements will prove to be accurate, as results and future events could differ materially from those anticipated statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Table I: Diamond drill hole assay intersections from Carpathian drilling at the RDM project, Minas Gerais, Brazil.
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Drill Area From To Length True Au
Hole (m) (m) (m) Thickness (m) (g/t)
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FRM-4 South Ext. 91.0 97.0 6.0 4.8 1.93
----------------------------------------------------------------------------
Incl. 95.0 97.0 2.0 1.6 5.08
----------------------------------------------------------------------------
FRM-6 South Ext. 71.0 72.0 1.0 1.0 1.08
----------------------------------------------------------------------------
FRM-8 South Ext. NSI
----------------------------------------------------------------------------
FRM-10 III/South Ext. 46.6 49.6 3.0 3.0 1.02
----------------------------------------------------------------------------
FRM-12 V 218.0 253.0 35.0 30.0 2.01
----------------------------------------------------------------------------
Incl. 219.0 222.0 3.0 2.6 5.19
----------------------------------------------------------------------------
And 242.0 247.0 5.0 4.3 7.68
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FRM-13 III/South Ext. 49.0 54.0 5.0 3.9 1.24
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60.0 61.0 1.0 0.8 8.82
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FRM-14 South Ext. 49.0 55.0 6.0 4.6 1.54
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FRM-17 South Ext. 68.2 69.2 1.0 0.8 17.15
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FRM-18 South Ext. 66.8 75.8 9.0 6.4 1.40
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Incl. 70.8 75.8 5.0 3.5 2.27
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FRM-21 South Ext. 67.5 74.5 5.0 3.8 0.56
----------------------------------------------------------------------------
FRM-23 South Ext. 59.5 61.5 2.0 1.8 1.16
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FRM-24 V 300.0 308.0 8.0 7.1 1.28
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Incl. 301.0 303.0 2.0 1.8 3.63
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FRM-25 III 154.5 159.5 5.0 4.3 3.86
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Incl. 154.5 157.5 3.0 2.6 5.51
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FRM-26 III 169.5 172.5 3.0 2.8 1.74
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195.5 210.5 15.0 13.9 3.66
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Incl. 200.5 205.5 5.0 4.6 9.25
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FRM-27 IV 207.15 218.15 11.0 9.8 1.65
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Incl. 215.15 218.15 3.0 2.7 3.42
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FRM-28 III 150.5 152.5 2.0 1.9 1.13
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169.5 173.5 4.0 3.7 2.48
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FRM-29 IV 197.0 199.0 2.0 1.8 2.37
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231.0 234.0 3.0 2.7 1.82
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FRM-30 IV 48.1 65.1 17.0 14.1 1.28
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Incl. 62.1 65.1 3.0 2.5 2.51
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FRM-31 III 171.0 196.0 25.0 23.5 1.23
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Incl. 176.0 186.0 10.0 9.4 2.53
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And 179.0 183.0 4.0 3.8 4.03
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FRM-32 IV 88.0 101.0 13.0 12.8 2.09
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Incl. 99.0 101.0 2.0 2.0 9.33
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FRM-33 III 171.0 181.0 17.0 16.0 3.96
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Incl. 171.0 174.0 3.0 2.8 18.45
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FRM-34 III/South Ext. 229.0 232.0 3.0 2.7 1.63
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FRM-35 IV 7.0 14.0 7.0 6.9 3.50
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Incl. 9.0 12.0 3.0 3.0 7.66
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FRM-38 III 218.4 221.4 3.0 2.7 3.82
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FRM-39 IV 234.3 236.3 2.0 1.8 2.72
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249.3 252.3 3.0 2.7 1.07
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FRM-40 III 222.4 229.4 7.0 6.1 1.78
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Incl. 225.4 229.4 4.0 3.5 2.86
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FRM-41 V NSI
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FRM-42 III 161.45 167.45 6.0 5.7 2.26
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Incl. 161.45 164.45 3.0 2.8 3.44
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And 162.45 163.45 1.0 0.9 6.32
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FRM-43 III 193.55 205.55 12.0 11.9 1.06
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Incl. 195.55 199.55 4.0 4.0 2.52
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FRM-44 V 150.0 153.0 3.0 2.8 2.07
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FRM-45 III 76.4 77.4 1.0 0.9 1.65
----------------------------------------------------------------------------
FRM-49 III 54.0 57.0 3.0 3.0 1.14
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FRM-50 III 191.3 195.3 4.0 3.7 2.12
----------------------------------------------------------------------------
206.3 219.3 13.0 12.1 1.85
----------------------------------------------------------------------------
Incl. 206.3 212.3 6.0 5.6 3.33
----------------------------------------------------------------------------
FRM-52 III 51.0 61.0 10.0 9.9 1.89
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FRM-62 III 87.2 98.2 11.0 9.6 1.37
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Incl. 90.2 95.2 5.0 4.4 2.10
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Notes: Assay intersections are calculated using a 0.30 g/t Au cut-off and maximum allowable dilution of three consecutive metres at less than 0.30 g/t Au. Drill hole details i.e. i.e. Azimuth, declination and total depth are shown in Drill Hole Descriptions Table III, as shown below.
Table II: Diamond drill hole assay intersections from Carpathian re-sampling of diamond core drilled by Vale at the RDM project, Minas Gerais, Brazil.
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Drill Area From To Length True Au
Hole (m) (m) (m) Thickness (m) (g/t)
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F-56 III 100.0 102.0 2.0 1.8 1.19
----------------------------------------------------------------------------
And 109.0 111.0 2.0 1.8 2.27
----------------------------------------------------------------------------
F-58 III 87.0 93.0 6.0 4.9 1.54
----------------------------------------------------------------------------
Incl. 88.0 89.0 1.0 0.8 5.34
----------------------------------------------------------------------------
108.0 118.0 10.0 8.7 2.13
----------------------------------------------------------------------------
F-75 V 69.0 78.0 9.0 7.2 3.61
----------------------------------------------------------------------------
Incl. 70.0 71.0 1.0 0.8 16.60
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98.0 116.0 18.0 11.6 2.14
----------------------------------------------------------------------------
112.0 113.0 1.0 0.9 16.45
----------------------------------------------------------------------------
F-80 V 67.00 76.00 9.0 7.9 1.62
----------------------------------------------------------------------------
F-99 IV/V 226.0 233.0 7.0 6.1 2.65
----------------------------------------------------------------------------
Incl. 229.0 231.0 2.0 1.7 7.23
----------------------------------------------------------------------------
F-100 V 200.0 204.0 4.0 3.8 2.02
----------------------------------------------------------------------------
Incl. 202.0 203.0 1.0 1.0 5.12
----------------------------------------------------------------------------
235.0 237.0 2.0 1.9 1.55
----------------------------------------------------------------------------
F-101 IV/V 228.0 231.0 3.0 2.9 2.37
----------------------------------------------------------------------------
245.0 261.0 16.0 15.6 2.53
----------------------------------------------------------------------------
Incl. 253.0 258.0 5.0 4.9 6.36
----------------------------------------------------------------------------
F-102 V 207.0 209.0 2.0 1.9 0.91
----------------------------------------------------------------------------
F-103 III 89.0 100.0 11.0 10.2 3.75
----------------------------------------------------------------------------
Incl. 89.0 93.00 4.0 3.7 5.64
----------------------------------------------------------------------------
And 98.0 100.0 2.0 1.8 7.75
----------------------------------------------------------------------------
114.0 116.0 2.0 1.8 1.53
----------------------------------------------------------------------------
Notes: Assay intersections are calculated using a 0.30 g/t Au cut-off and maximum allowable dilution of three consecutive metres at less than 0.30 g/t Au. Drill hole details i.e. i.e. Azimuth, declination and total depth are shown in Drill Hole Descriptions Table III, as shown below.
Table III: Drill Hole Details for holes completed by Carpathian at the RDM Project (prefix FRM-xx). Also included are diamond drill holes completed by Vale from which Carpathian has re-sampled and assayed with drill hole prefix F-xx.
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Drill Area Northing(i) Azimuth(i) Declination Total
Hole (degrees) (degrees) Depth (m)
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FRM-4 South Ext. 9,187N 0 -90 120.5
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FRM-6 South Ext. 8.940N 270 -60 100.6
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FRM-8 South Ext. 9,400N 0 -90 109.6
-------------------------------------------------------------------------
FRM-10 III/South Ext. 9,348N 270 -61 70.4
-------------------------------------------------------------------------
FRM-12 V 10,417N 0 -90 277.9
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FRM-13 III/South Ext. 9,465N 270 -90 73.0
-------------------------------------------------------------------------
FRM-14 South Ext. 9,372N 0 -90 72.0
-------------------------------------------------------------------------
FRM-17 South Ext. 9,295N 0 -90 76.0
-------------------------------------------------------------------------
FRM-18 South Ext. 9.230N 0 -90 97.6
-------------------------------------------------------------------------
FRM-21 South Ext. 9,187N 0 -90 85.8
-------------------------------------------------------------------------
FRM-23 South Ext. 9.139N 0 -90 94.2
-------------------------------------------------------------------------
FRM-24 V 10,392N 270 -85 350.1
-------------------------------------------------------------------------
FRM-25 III 9,560N 270 -85 202.8
-------------------------------------------------------------------------
FRM-26 III 9,930N 270 -85 217.6
-------------------------------------------------------------------------
FRM-27 IV 10,240N 270 -85 256.5
-------------------------------------------------------------------------
FRM-28 III 9,670N 270 -85 199.8
-------------------------------------------------------------------------
FRM-29 IV 10,040N 270 -85 256.8
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FRM-30 IV 10,310N 270 -85 121.7
-------------------------------------------------------------------------
FRM-31 III 9,830N 270 -85 218.6
-------------------------------------------------------------------------
FRM-32 IV 10,375N 270 -60 120.0
-------------------------------------------------------------------------
FRM-33 III 9.780N 270 -85 215.2
-------------------------------------------------------------------------
FRM-34 III/South Ext. 9,440N 270 -85 256.7
-------------------------------------------------------------------------
FRM-35 IV 10,325N 270 -60 83.6
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FRM-38 III 9,505N 270 -85 323.1
-------------------------------------------------------------------------
FRM-39 IV 10,125N 270 -85 280.8
-------------------------------------------------------------------------
FRM-40 III 9,645N 270 -85 270.7
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FRM-41 V 10,585N 270 -85 283.9
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FRM-42 III 9,620N 270 -85 200.9
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FRM-43 III 9,505N 270 -60 231.9
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FRM-44 V 10,690N 270 -75 210.7
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FRM-45 III 9,480N 270 -84 139.6
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FRM-49 III 9,540N 270 -60 80.2
-------------------------------------------------------------------------
FRM-50 III 9,735N 270 -85 252.8
-------------------------------------------------------------------------
FRM-52 III 9,600N 270 -60 81.5
-------------------------------------------------------------------------
FRM-62 III 9.815N 270 -85 118.5
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F-56 III 9,800N 0 -90 123.5
-------------------------------------------------------------------------
F-58 III 9,900N 270 -87 132.4
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F-75 V 10,642N 0 -90 159.3
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F-80 V 10,692N 0 -90 104.8
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F-99 IV/V 10.492N 266 -86 265.0
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F-100 V 10,645N 0 -90 256.1
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F-101 IV/V 10,395N 270 -81 298.9
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F-102 V 10,695N 270 -87 237.7
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F-103 III 9,654N 0 -90 119.3
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Notes: (i) All Northings are in local grid coordinates which are rotated 20 degrees west from true north. (i)All drill hole azimuths are local grid azimuths, i.e. rotated 20 degrees west from true north.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
