Phase 1 drilling was carried out within the 800 meter by 180 meter corridor along what is thought to be the hanging wall of the Llewellyn Fault Zone and encountered sections of pervasive hydrothermal quartz stockwork systems and several quartz veins. The zone is thought to be open to the southwest, southeast and northeast, and as a result, a Phase 2 drill program is currently being designed and will be announced when plans are complete.
| Sample ID | Analysis Au ppb | Assays/Analyses | Rock samples collected over 800m strike Location | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Au 1 (g/t) | Au 2 (g/t) | Ag 1 (g/t) | Ag 2 (g/t) | Cu (%) | Pb (%) | Zn (%) | Mo (%) | |||
| E 83351 | >1000 | 245 | 263 | 1360 | 1350 | 4.15 | 3.46 | Lum#2 Trench dump | ||
| E 83352 | >1000 | 256 | 259 | 1200 | 1065 | 2.75 | 4.45 | 1.36 | Lum#2 Trench dump | |
| E 83353 | >1000 | 25.5 | 154 | 149 | Lum#2 Trench dump | |||||
| E 83355 | >1000 | 157 | 149.5 | 630 | 639 | 2.91 | 4.75 | 1.94 | Lum#2 Trench dump | |
| E 83356 | >1000 | 55 | 384 | 381 | 2.65 | 1.74 | Lum#2 Trench dump | |||
| E 83358 | >1000 | 52.1 | 746 | 788 | 1.79 | 5.76 | 1.04 | Lum#1 Trench dump | ||
| E 83359 | >1000 | 8.29 | 424 | 448 | Trail Vein float | |||||
| E 83362 | >1000 | 32.9 | 30.3 | 1180 | 3010 | 3.35 | 3.79 | Trail Vein float | ||
| E 83363 | 62.3 | 55.5 | 1.19 | Trail Vein float | ||||||
| E 83365 | >1000 | 2.5 | 62.3 | Brown Adit grab | ||||||
| E83370 | 415 | 126 | River Vein, footwall | |||||||
| E 83373 | >1000 | 3.2 | Lum #1 Trench dump | |||||||
| E83384 | >1000 | 3.4 | 320 | Dutch Vein chip/80 cm | ||||||
| E83386 | >1000 | 1.2 | 184 | Trail Vein chip/80 cm | ||||||
| E83395 | >1000 | 15.9 | 440 | 1.04 | Newfie Vein grab | |||||
| E83396 | >1000 | 5.2 | 116 | Newfie Vein grab | ||||||
| 65154 | 135 | 18.8 | 0.3 | Lum #1 grab | ||||||
| 65157 | >1000 | 20.3 | Lum #1 grab | |||||||
| 65171 | >1000 | 17.2 | Trail Vein grab | |||||||
| All analyses, unless otherwise indicated, were performed by Eco Tech (Stewart Group) | ||||||||||
| Au 1, Ag 1 | Eco Tech (Stewart Group) Assay | |||||||||
| Au 2, Ag 2 | ALS-Chemex Assay | |||||||||
The 2010 sampling program at the Wann River Project is believed to be multi-pulse, hydrothermal quartz vein system. Minerals observed in quartz on surface include tetrahedrite, chalcopyrite, galena, sphalerite, malachite, azurite, trace molybdenite, variable pyrite and associated trace arsenic with associated analytical gold and silver.
The Company began staking claims in 2004 around the historic Engineer Mine and in the historic Atlin placer gold camp in the Atlin Mining Division of northwestern British Columbia. The two claim groups now known as the Tagish Lake and Atlin claim groups have grown to a total of 116,868 hectares of contiguous mineral claims. The Wann River Project consists of mineral claims covering an area of 2,271 hectares within the Tagish Lake claim group and is located approximately 4 km south of the historic Engineer Mine.
The technical information in this News Release has been reviewed and approved by Nicholas Clive Aspinall, P.Eng., a qualified person as defined in National Instrument 43-101.
*oz/t = troy ounce per metric tonne conversion @ 0.03215
On behalf of the Board of Directors,
"J. Frank Callaghan"
J. Frank Callaghan
President and CEO
Tel: (604) 669 - 6463
This News Release contains forward-looking statements. Forward-looking statements are statements, which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. All phases of the Company's operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets. 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.