Business & Finance
Business and Finance
Business and Finance 
Tue, December 22, 2009
American Consolidated Minerals Corporation: Deeper Drilling Finds Feeder Fault at Toiyabe Project, Nevada; Drill Hole T-0902 In
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2009) - American Consolidated Minerals Corp. ("American Consolidated" or the "Company") (TSX VENTURE:AJC) is pleased to announce the results of two deep core holes drilled at its Toiyabe Project, located 12 miles south of the Pipeline Mine in northeastern Nevada. Drill hole T-0902 averages 0.106 oz/ton gold (3.62 g/t) over 49 feet (29.4 ft or 9.0 m true width) from 875 to 924 feet (267 to 282 m). Included within this interval is 5 feet (3.0 ft. or 0.9 m true width) of 0.473 oz/ton gold (16.19 g/t). The fault hosted high-grade gold and is related to a newly discovered high-angle feeder fault called the "805 Fault" named for the 2008 drill hole that indicated its existence. Further deep exploration drilling is planned for next spring along the trend of the fault.
The Company drilled T-0901 toward the northeast at a dip of 67 degrees to a depth of 1,497 feet (456 m) to cross the West Graben Fault and test for sediment hosted mineralization along its hanging wall. Current interpretation is that drill hole T-0901 was apparently collared in the hanging wall of the West Graben fault and remained in the hanging wall. It did not reach postulated Roberts Mountains Formation, a favorable host rock, and instead remained in transition assemblage rocks, which may be repeated by thrust faulting. Hole T-0901 did cut significant intercepts of sediment hosted gold mineralization including 40 feet (38 ft. or 11.6 m true width) averaging 0.029 oz/ton gold (1.00 g/t) between 170 and 210 feet (52 to 64 m).
Drill hole T-0902 was drilled to the northeast at a dip of 82 degrees to a depth of 1089 feet (332 m). Initial interpretation is that the hole was collared on the hanging wall of the 805 Fault, crossed the fault from 875 to 924 feet (267 to 282 m) and then drilled footwall rocks until lost at 1089 feet due to lost circulation. This hole also remained in transition assemblage rocks. The sediments were mineralized for 44 feet (13.4 m) below the high-grade fault intercept (see above) but this gold zone is thought to be related to structural preparation of the sediments. Two additional narrow low-grade intercepts occur deeper in the hole. All results for intercepts of 0.029 oz/ton gold (1.00 g/t) are listed below and a map of drill hole locations is posted on the company website.
| Toiyabe Summary Drilling Results (greater than or equal to 5 feet @ greater than or equal to 0.01 oz/ton Gold) | ||||||||||
| From | To | Interval | True | Gold | Sil- ver | True | Gold | Si- lver | Target | |
| Hole No. | (feet) | (feet) | (feet) | Width | (oz/ton) | (oz/ton) | Width (m) | (g/t) | (g/t) | Area |
| T-0901 | 170 | 210 | 40 | 38.0 | 0.029 | 0.01 | 11.6 | 1.00 | 0.38 | W. Graben Fault |
| 250 | 265 | 15 | 14.5 | 0.015 | 0.01 | 4.4 | 0.50 | 0.5 | W. Graben Fault | |
| 270 | 280 | 10 | 9.7 | 0.015 | 0.01 | 3.0 | 0.50 | 0.5 | W. Graben Fault | |
| 370 | 375 | 5 | 4.0 | 0.013 | 0.02 | 1.2 | 0.45 | 0.85 | W. Graben Fault | |
| 525 | 535 | 10 | 9.7 | 0.013 | 0.02 | 3.0 | 0.45 | 0.85 | W. Graben Fault | |
| T-0902 | 198 | 210.5 | 12.5 | 10.0 | 0.029 | 0.03 | 3.0 | 0.98 | 1 | 805 Fault |
| 875 | 924 | 49 | 29.4 | 0.106 | 0.06 | 9.0 | 3.62 | 2.1 | 805 Fault | |
| Including | 875 | 880 | 5 | 3.0 | 0.473 | 0.09 | 0.9 | 16.19 | 3.0 | 805 Fault |
| 1043 | 1052 | 9 | 8.1 | 0.048 | 0.02 | 2.5 | 1.63 | 0.7 | 805 Fault | |
| 1057 | 1067 | 10 | 9.0 | 0.010 | less than 0.01 | 2.7 | 0.33 | less than 0.5 | 805 Fault | |
The company is very encouraged by these results and plans an aggressive deep drilling program along the two feeder faults identified to date with the primary target being a bulk minable Pipeline or Cortez Hills style deposit. Also, because only a small portion of the 3,300 acre property has been explored to date, additional surface geochemistry and geophysical surveys are also planned. This work is scheduled to begin in the spring of 2010.
"We are very pleased with the results of our work at our Toiyabe Project and are looking forward to the exploration work planned for 2010," said President Al Fabbro. "We would like to take this opportunity wish all of our friends and shareholders a safe and happy holiday season. We very much appreciate and are thankful for your continued support and hope to share a very prosperous New Year in 2010."
Richard Kern (P.Geo), a director of American Consolidated, is the Company's qualified person on the project. Richard Kern and Paul Noland have prepared the technical information contained in this press release.
American Consolidated is dedicated to the principles of environmentally sound mining practices and believes that environmental stewardship and mining can co-exist.
For details on the Company and its properties, visit the Company's website at [ www.americanconsolidatedminerals.com ].
ON BEHALF OF THE BOARD:
Al Fabbro, President & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.