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Re: News Releases - Tuesday, April 12, 2011
Jetgold Announces Spring 2011 Work Program
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April 12, 2011, Vancouver, British Columbia: Brad J. Moynes, President
of JetGold Corp. (the "Company" or "JetGold") (TSX-V: JAU) is pleased
to announce plans for its spring/summer 2011 work program at its 100%
controlled Big Hammer Gold, Silver & Tellurium ("Big Hammer") project
and its 100% controlled Kshish Porphyry Molybdenum ("Kshish") project
both located in the Terrace mining district in British Columbia,
Canada. Permits have been approved and mobilization will commence in
May 2011.
Big Hammer Project:
The Big Hammer property consists of six tenures totaling 1,617 hectares
(3,996 acres) located 13 km southeast of Terrace, British Columbia on
the south side of Thornhill Mountain. Big Hammer is serviced by a
paved public road, existing forest resource roads and is accessible in
all seasons. Big Hammer was discovered in 2007 by the BC Geologic
Survey and is a new discovery containing gold and tellurium.
The Big Hammer property is in the early stages of exploration and it
has indications that it is a reduced intrusion-related gold system
similar to the Fort Knox and Dublin Gulch deposit models. These
deposits include sheeted, often low-angle, quartz veins with Au-Bi-Te-W
mineralization. The significant extent, >1,000 m (3,200 ft.)
horizontal and >300 m (1,000 ft.) vertical, of the known Big Hammer
mineralization suggests additional veins will be found with airborne
geophysics, mapping, surface trenching and
Diamond drilling. The
findings of this work will assist in projecting and determining where
these veins coalesce.
The numerous occurrences of gold on Thornhill and Copper mountains
indicate that a trend of gold bearing structures is locally in place
and that Big Hammer is significantly different from these typically
single vein occurrences, with it's multiple, sheeted and low angle
veins. The structural geology of Big Hammer suggests that it is
possible that a significant number of parallel, mineralized veins exist
over the length and breadth of the property, down to the valley bottom.
Permitting for 2011 exploration has been approved and will include
trenching, blasted test pits, bulk sampling and
Diamond drilling.
Surface exploration activities planned for 2011 include sequential
programs of mapping, surface sampling, trench sampling with drilling
and bulk sampling to follow in 2012. An airborne geophysical survey is
planned and is expected to determine the extent of the mineralization
beyond the areas around the existing showings.
Kshish Project:
The Kshish property is situated on the south west flank of Mount
Vanarsdoll 11.5 km (7 miles) northeast of Terrace, British Columbia and
consists of 13 contiguous claims totaling approximately 4,000 hectares
(10,000 acres). JetGold has an exclusive option agreement to acquire
100% interest in the Kshish property.
The Kshish property hosts a northwest trending ellipse of hydrothermal
and structural alteration roughly 4 km (2.5 miles) long by 2 km (1.2
miles) wide. This zone encompasses several historic molybdenum
showings, a large area of anomalous molybdenum in soils as well as
newly discovered mineralization. There is indication that this zone
of alteration may be larger. Exploration to date and the historic soil
grid lines have been constrained to a small portion of the property and
anomalous molybdenum values are present further to the northwest.
Within this zone of alteration, the young granite intrusive hosts
stockworks of molybdenite-bearing quartz veinlets, fractures and
breccias. Due to this, the deposit model (L05) has the potential to
deliver high molybdenum grade and tonnage over a large area.
Porphyry molybdenum L05 deposits, Endako for example, of this type are
the important source of world molybdenum supply. British Columbia is
currently Canada's sole source of molybdenum and the Terrace area holds
significant potential for this deposit model due to the heat engine
provided by the coast plutonic complex. Kshish exhibits the important
signatures and size of this deposit type. As well, the infrastructure
in and around Kshish are outstanding which significantly reduces the
capital expenditures forecast for exploration and development of the
property.
To assist in determining and expanding this zone of alteration and
mineralization within the property and to define exploration targets,
airborne geophysics (magnetic and radiometric) have been recommended by
the Company's geologic consultants. It is anticipated that the airborne
geophysics will be completed by late July. Ground based exploration
work on existing and new targets may ultimately lead to
Diamonddrilling.
Region:
The Company's properties in this region have had over $130,695 of
mineral exploration completed up to 2010. It is anticipated that
significant additional investment in the region as a whole will occur
during the next 10 years including the development of infrastructure,
power generation and investment into new mines. The proximity of
JetGold's properties to the Fairview Terminal deep water container port
in Prince Rupert is unprecedented and an important part of the
Asia-Pacific Gateway and Corridor Initiative of the Government of
Canada and the Pacific Gateway strategy of the Province of British
Columbia.
Alex Burton, P. Eng. P. Geo, an independent person to the Company, is a
qualified person as defined by National Instrument 43-101, reviewed the
content of the news release.
For more information about the Company please visit www.jetgoldcorp.com
On behalf of the board of directors,
JetGold Corp.
"Brad J. Moynes"
Brad J. Moynes
President & Director
For more information regarding JetGold, please contact:
Brad J. Moynes
Tel: 604.484.5761 x31
info@jetgoldcorp.com
This news release was prepared by management of JetGold, which takes
full responsibility for its contents. Neither 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.
This disclosure contains certain forward-looking statements that
involve substantial known and unknown risks and uncertainties, certain
of which are beyond the Company's control including: the impact of
general economic conditions in the areas in which the Company operates,
industry conditions, changes in laws and regulations including the
adoption of new environmental laws and regulations and changes in how
they are interpreted and enforced, increased competition, the lack of
availability of qualified personnel or management, fluctuations in
commodity prices, foreign exchange or interest rates, stock market
volatility and obtaining required approvals of regulatory authorities.
In addition there are risks and uncertainties associated with
manufacturing operations and mineral exploration, therefore the
Company's future results, performance or achievements could differ
materially from those expressed in these forward-looking statements
will transpire. All statements included in this press release that
address activities, events or developments that the Company expects,
believes or anticipates will or may occur in the future are
forward-looking statements. These statements are based on assumptions
made by the Company based on its experience, perception of historical
trends, current conditions, expected future developments and other
factors it believes are appropriate in the circumstances.
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Copyright (c) 2011 JET GOLD CORP. (JAU) All rights reserved. For more
information visit our website at http://www.jetgoldcorp.com/ or send
mailto:info@jetgoldcorp.com
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