Consolidated Goldfields Encounters Significant Gold Mineralization in Trenching Program at Fisher Ca
Consolidated Goldfields Encounters Significant Gold Mineralization in Trenching Program at Fisher Canyon
RENO, Nev.--(BUSINESS WIRE)-- Consolidated Goldfields Corp. ("Consolidated" or the "Company") (OTCQX: CDGF) is pleased to announce the results of its recent trenching program at its Fisher Canyon gold property in Pershing County, Nevada. The project was planned to further evaluate a high grade gold zone discovered during last year's rock chip sampling program as described in the press release dated October 9, 2012. Rock chip samples from this area assayed as high as 39.32 g/ton (1.148 oz/ton) and visible gold up to 0.5 mm was observed in hand specimens.
A twenty-five foot long trench, three feet deep was excavated along the strike of gold mineralization. Rock chip channel samples were collected every three feet across the trench, which is comprised of altered volcanic wall rock on both sides of a mineralized fault or contact zone. A 100 pound bulk sample was collected for metallurgical testing as were two select rock samples of the two foot wide, high grade mineralized zone.
The results below demonstrate continuity of low to moderate grade gold mineralization on both sides of the mineralized contact structure and high grade as shown by the two select samples of the structural zone itself and are evidence of the considerable strength of gold enrichment.
|Sample #||Channel Sample Description||Gold g/ton||Gold oz/ton|
|97376||5 foot rock chip of altered volcanics||0.677||0.020|
|97383||2 foot rock chip of contact structure||17.916||0.523|
A drilling program has been designed and is fully permitted to explore for this high grade zone at depth. A detailed geological mapping and geochemical sampling program will also be conducted to trace this high grade gold zone on the surface.
Lane Griffin, VP Exploration, Consolidated Goldfields, is a Registered Member of the Society for Mining, Metallurgy, and Exploration and is a Qualified Person as defined in NI 43-101. Mr. Griffin has reviewed and verified the technical information contained in this news release.
Certain information contained in this news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections. However, such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from such forward-looking statements. The Company disclaims any intent or obligation to update publicly any forward-looking statements set forth herein, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
KEYWORDS: United States North America Nevada
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