PRESS RELEASE
Ressources Appalaches acquires two more gold properties in Nova Scotia
Rimouski, July 31, 2007 - Ressources
Appalaches (APP-TSXV) announces the signing of two agreements with Meguma
Resource Enterprises Inc. and Mr. John
Ross for the acquisition of 100% of their gold properties in Nova Scotia. These properties will in future be grouped under
the name Miller Lake.
The properties
are located on the east coast of Nova Scotia,
about 150 km
from Halifax.
They are contiguous and comprise 61 claims with a total area of 11 km2.�
The Ecum Secum property (see announcement of June 7, 2007) is located a few kilometres to
the south.
More than six
gold-bearing veins from a few centimetres to 30 cm thick have previously
been identified and partially mined, one of them 1,097 metres in
length. Three principal mineralized sites on the property were mined from
shafts and tunnels in the early 20th century: the shafts went no deeper than 32 metres. The deposits
consist of gold disseminated in quartz veins on either side of an anticline.
The production data compiled by the Nova Scotia Ministry of Natural Resources
state that 538.8 troy ounces were extracted from this district between 1902 and
1951. Evaluation work carried out at the three sites during this period
mentions average grades of 17 g/t, 22 g/t, and 19 g/t Au from samples of 166
tonnes, 4.0 tonnes, and 2.2 tonnes respectively. These figures represent
historical data listed in various work reports distributed by the Ministry:
they cannot be verified, and are mentioned for information purposes only.
Beginning in
1974, exploration work including geophysical and geochemical surveys,
trenching, and drilling was carried out, mainly by two companies.� This work
confirms the presence of auriferous zones on the edge of an anticline.
Geological setting
The geological
setting of the Miller Lake
property closely resembles that of the Ecum Secum property. The property, which
forms part of the Meguma Group, consists mainly of Cambrian to Devonian sedimentary
rocks (turbidites). The geologic formations are affected by major
sub-horizontal folding along east-west axes.� Several late local and regional
faults strike north-west and are generally post-mineralization. Granitic
intrusions cut the sedimentary rocks. Several types of veins are observed, but
the gold deposits are mainly associated with stratiform veins and anticlines.
The gold is disseminated and sometimes visible in quartz veins, frequently accompanied by disseminated sulphides such as
galena, sphalerite, arsenopyrite, and chalcopyrite. Alteration minerals such as
sericite and chlorite are also present in the veins and wall rocks.
The agreement
Ressources
Appalaches has obtained an option from Meguma Resource Enterprises Inc. and Mr.
John Ross to
acquire 100% of their properties in return for $100,000 in work and
$87,500 in cash, all to be distributed over a period of three years. Upon
production from the deposit, a royalty (NS) of 2% will be paid on each
property, but with optional buy-backs for Ressources Appalaches in the
respective amounts of $1,400,000 and $650,000.�
Objective
Ressources
Appalaches's objective is to define extensions of the deposit around the
existing shafts that can be put into production as quickly as possible. With
this in mind, work will begin with pitting and drilling over a broad horizontal
area.
The contents of
this press release were prepared by geologist Alain Hup�, a qualified
person as defined in NI 43 101. The TSX Venture
Stock Exchange disclaims any responsibility for the veracity and accuracy of this press release.
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information:
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Andr�
Proulx������������������������������������������������������������������������������������������������� Christian Guilbaud
President���������������������������������������������������������������������������������������������� Public
Relations Officer
Telephone: 418-724-0901��������������������������������������������������������������������� Telephone:
514-813-7862
info@ressourcesappalaches.com