Oct 01, 2003
Kermode Discovers New Gold Indications At Jackson's Arm
- Kermode Discovers New Gold Indications At Jackson's Arm
- Twenty Three Targets Selected
- Extensive Fall Drill Program Planned
Kermode Resources has now received all results from its regional geochemical sampling program at Jackson's Arm, Newfoundland. Kermode's program is targeted at the discovery of economic Carlin-type gold mineralization. Kermode plans an extensive fall drill program at Jackson's Arm.
Results have been received for all rock and stream sediment samples. A total of 172 rock samples were taken and 17 of these (10%) contain anomalous gold with values ranging from 11.4 to 2,571.1 ppb gold (the equivalent of 2.57 g/t gold). Significant anomalous values were also noted in pathfinder elements such as arsenic and antimony. Stream sediment samples were panned to yield a heavy mineral concentrate that was then analyzed to determine its gold content. Only 1 of the 15 samples was anomalous yielding 1,740.6 ppb gold (the equivalent of 1.74 g/t gold).
Kermode has compiled all data from the regional geochemical survey, including the till and soil results previously reported. It is noteworthy that anomalous samples often occur in clusters and that gold; arsenic and antimony are usually associated. Kermode has selected 23 sample locations as the most significant and field crews are currently carrying out detailed soil sampling and prospecting at these locations.
Additional property has also been acquired by staking, some despite intense competition. The total project now consists of 172 contiguous claims covering 4,300 ha. Kermode has optioned the majority of this property (160 claims) from South Coast Ventures and the remaining 12 claims from Cornerstone Capital Resources Inc.
Rocks considered favourable for the occurrence of Carlin-type gold deposits underlie Kermode's targets. Many of the new anomalies are located in close proximity to the Doucers Valley Fault, a major regional geological structure that is interpreted to be the focus of widespread hydrothermal activity. Large-scale mineralizing systems appear to have been operative along this structure that is becoming a focus of Kermode's exploration.
ON BEHALF OF THE BOARD OF DIRECTORS
"D. Neil Briggs"
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