Nayarit Gold Announces Drilling has Commenced on High Grade Minas de Animas Gold/Silver Structure
Nayarit Gold Inc. (TSXV: NYG) is pleased to announce that drilling has comm enced on the "Minas de Animas" structure in its Orion district in the state of Nayarit, Mexico. Previous samples from its underground sampling progra m on Minas de Animas returned spectacular assay results including:
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Sample Number Width (m) Gold (g/t) Silver (g/t)
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572124 1.40 38.60 8030.00
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518305 1.10 13.50 691.00
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518330 0.60 42.70 668.00
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518332 1.70 53.00 7130.00
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518338 1.40 16.85 2030.00
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* See press release 10-2006 for detailed underground sample data available for review at www.nayaritgold.com and www.sedar.com.
"We identified Minas de Animas as our number one exploration target for our 7,000-metre program, and we are pleased to have commenced on schedule," st ated Colin Sutherland, President & CEO. "We will remain aggressive with ou r drill program, with the second drill arriving later this month."
The "Minas de Animas" structure is located about 2.0 km south east of Nay arit's Orion-Estrella workings, and 2.3 km south of the Bonanza # 1 working s. The main Minas de Animas system has been traced over a strike length of more than 850m on surface. Four adits have been sampled to date, three of which follow the main southerly dipping Minas de Animas structure for a st rike distance in excess of 360m underground. The fourth adit is on a footwa ll structure. The vein systems are within a historic mining area where si gnificant mining has produced high grade gold and silver.
The Animas mine project area contains a system of two sub-parallel quartz b reccia veins that trend E-W to NW-SE. The project area has been mapped and sampled in detail yielding 16 gold assays in excess of 10 g/t Au.and 25 si lver assays in excess of 500g/t Ag plus 9 assays assaying in excess of 1000 g/t Ag.
The first hole is designed to intersect both the main Animas vein and the s ub-parallel vein to the north.
William J. Warren Jr., M.Sc., P.Geo. is a Qualified Person as defined in NI 43-101 and has reviewed this release.
Nayarit Gold Inc. is a Toronto based junior resource company dedicated to g old exploration in the proven precious metal districts of Mexico. Manageme nt's goal is to build a profitable resource company and maximize shareholde r value through successful exploration programs and continued development.
For further information on Nayarit Gold please visit the company's website at www.nayaritgold.com or contact:
Mr. Colin P. Sutherland
President & CEO
(647) 477-6264
info@nayaritgold.com
CAUTIONARY STATEMENT
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or oth er regulatory authority has approved or disapproved the information contain ed herein. This News Release includes certain "forward-looking statements" .. All statements other than statements of historical fact, included in thi s release, including, without limitation, statements regarding potential mi neralization and reserves, exploration results, and future plans and object ives of Nayarit, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will pro ve to be accurate and actual results and future events could differ materia lly from those anticipated in such statements. Important factors that coul d cause actual results to differ materially from Nayarit's expectations are exploration risks detailed herein and from time to time in the filings mad e by Nayarit with securities regulators.
Press Release 16 - 2007
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Nayarit Gold Inc.
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CODE : NYG.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Nayarit Gold is a gold exploration company based in Canada. Nayarit Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 47.0 millions as of today (US$ 46.4 millions, € 35.6 millions). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 1.92, and its lowest recent point on November 21, 2008 at CA$ 0.25. Nayarit Gold has 87 091 000 shares outstanding. |