Gold One International Ltd

Published : April 10th, 2012

Drilling Intersects 78 Grams per Tonne Gold on Destiny Gold Project, Val d'Or Area, Quebec

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Diamond | Gold | Report | Silver |

 NEWS

 

Drilling Intersects 78 Grams per Tonne Gold on Destiny Gold Project
Val d'Or Area, Quebec

 

 

  • 78.7 g/t Au over 1.0 m intersected in an under-explored one-kilometre section of the Despinassy Shear Zone.

  • Gold mineralization and favourable alteration and structure now confirmed between the DAC Deposit and the Darla Zone

  • As of January 2011, the DAC Deposit contains an Indicated Resource of 364,000 ounces of gold and an Inferred Resource of 247,000 ounces of gold at a cut-off grade of 0.5 g/t Au.

 


April 10th, 2012, Vancouver, Canada; Next Gen Metals Inc. ("Next Gen") TSX.V: N and Alto Ventures Ltd. ("Alto") TSX.V: ATV (together "the Companies")
are pleased to announce the assay results from the first six holes of the 2012 drill program on the Destiny Gold project located near Val-d'Or, Quebec.

Results
Drill holes DES12-144 to DES12-149 were designed to test for the presence of gold mineralization at shallow depths along the strike between the DAC Deposit to the west and the Darla Zone to the east (Figure 1), thereby expanding the mineralized zone down-dip and along the strike. These six drill holes confirm the presence of higher-grade gold values that occur within a broad lower-grade mineralization envelope with strong alteration and shearing between the DAC Deposit and the Darla Zone.

Drill hole DES12-147 was drilled on Section 318260E and intersected 78.9 g/t gold over 1.0 m from 87.5 m to 88.5 m within a higher grade envelope that averages 11.3 g/t gold over 8.0 m from 85.5 m to 93.5 m.

Drill holes DES-144 and DES-145 are located approximately 600m east of the DAC deposit and collared on section 318160E, approximately 100 m west of Section 318260E. The space between the holes was approximately 100 m and the holes were drilled at an azimuth of 180�.

DES12-144 intersected several gold bearing intervals including 1.05 g/t gold over 10 m from 184 m to 194 m and 1.04 g/t gold over 11m from 206 m to 217 m. DES12-145 also intersected several gold bearing intervals including 1.37 g/t gold over 3.25m from 85.25 m to 88.9 m with a higher grade section averaging 3.47 g/t gold over 1.35m (from 86.45 m to 87.8 m).

The results from these six holes are very positive and confirm the presence of gold mineralization between the DAC Deposit and the Darla Zone, indicating that the two separate zones could be linked for a total mineralized strike length of 2 km.

Holes DES12-146, 148 and 149 also intersected sheared and altered rocks with anomalous gold values (Table1). Results from the remaining six holes of the program will be released as they become available.

About the 2012 Drill Program

The 2012 drill program is focused on testing the under-explored area between the DAC Deposit and the Darla Zone at shallow depths (Figure 1) and consisted of 3,472 m in 18 holes. The objective of the drilling program is to increase the contained ounces on the Destiny Property at shallow depths. This program tested the one kilometre gap in drilling between the DAC Deposit and the Darla Zone at shallow depths to determine if the gold mineralization continues between these two areas. If results from these widely spaced holes are positive, an infill program will be proposed to generate sufficient data to prepare an updated NI43-101 compliant Resource Estimate Report incorporating results from the Darla Zone as well as the area between the Darla Zone and the DAC Deposit.

The DAC Deposit is one of several significant gold zones along a four kilometre segment of the Despinassy Shear Zone.

As of January 2011, the DAC Deposit has an Indicated Resources of 10.8 Mt grading 1.05 g/t Au (at 0.5 g/t Au cutoff) for 364,000 ounces of gold and Inferred Resources of 8.3 Mt grading 0.92 g/t Au (at 0.5 g/t Au cutoff) for 247,000 ounces of gold.

Table-1- Significant Gold Assays from Holes DES12-144 to 149

*Based on core angles and previous drilling on the property, true widths are estimated at approximately 80 to 90% of the down-hole lengths reported. Mineralized zones generally start at 0.1 g/t gold and assay averages may include minimal intervals of waste material. No top cuts of assays were used. 

About the Destiny Project:

The property consists of 177 claims totalling 7,421 ha and is located approximately 100 km by road north of the city of Val-d'Or. The property is accessible via Provincial Highway 397, which passes through the property.

On September 26, 2011, Pacific North West Capital Corp. (PFN) assigned its interest in the initial Option Agreement with the property owner, Alto Ventures Ltd., to Next Gen Metals Inc. Under the terms of the Option Agreement, Next Gen is responsible for all remaining cash payments and exploration expenditures due to be paid or incurred, as the case may be under the initial option with Alto Ventures Ltd.

PFN has fulfilled its obligations for the first two years of the Option Agreement and will continue to be responsible for issuance of common shares to Alto.

Figure 1- Location map of 2012 Diamond drill holes DES12-144 to 149 in the under-explored area between DAC Deposit and Darla Zone 

About the DAC Deposit

The main area of mineralization on the Destiny Gold Property is the DAC Deposit, which occurs over a strike length of about 600 m. In this area, five identifiable intervals of quartz veining and shear-related alteration zones carry significant gold mineralization for which a Mineral Resource Estimate Report was prepared in 2011.

The Mineral Resource Estimate Report was prepared for the DAC Deposit by Wardrop, a Tetra Tech Company (Wardrop) and filed on Sedar on March 7, 2011. Using a cut-off grade of 0.5 g/t gold and the Inverse Distance Squared (ID2) estimation method, the five gold zones that make up the DAC Deposit contain an Indicated Resource of approximately 10.8 million tonnes with an average grade of 1.05 g/t gold (364,000 contained ounces). In addition, the Inferred Resource totals approximately 8.3 million tonnes with an average grade of 0.92 g/t gold (247,000 contained ounces). The mineralization starts at approximately 15 m below surface and extends down to a depth of 400 m for the deepest zone. The mineralization remains open below 400 m. For details regarding the resource estimate methods and calculation parameters please see the news releases issued by Alto and PFN on March 7, 2011. The Report can be view on each of the Company's websites at www.nextgenmetalsinc.com and www.altoventures.com .

Mineral Resources are not Mineral Reserves and by definition do not demonstrate economic viability.

The DAC Deposit remains open along strike and to depth and is one of several significant gold occurrences along a four kilometre segment of the Despinassy Shear Zone.

The Darla Zone, which lies one km east of the DAC Zone, was discovered in 2006. At this location, drilling intersected 19.5 g/t gold across 2.1 m and 20.6 g/t over 0.8 m . The occurrence of high grade gold mineralization in the Darla, DAC and 20 and 21 zones (Figure 1) clearly indicates that the mineralizing system occurs across a significant portion of the property. The gold mineralization at these occurrences starts near surface, and with additional drilling these targets could add significant contained ounces to the already defined resources at the DAC Deposit.

Qualified Person Statement

This news release has been reviewed and approved for technical content by Mike Koziol, P. Geo, a qualified person under the provisions of National Instrument 43-101.

About Alto Ventures Ltd

Alto Ventures Ltd. Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold and base metals properties. The Company is active in Quebec in the Abitibi greenstone belt on the Destiny gold property and in Ontario, exploring in the Beardmore-Geraldton gold belt. In Manitoba, the Company is focused on the gold and base metals potential of the highly prospective but relatively under-explored Oxford Lake property.For more details regarding the Company's projects, please visit our website at www.altoventures.com.

About Next Gen Metals Inc

Next Gen is a mineral exploration company whose current focus is on gold and base metals projects in North America. The Company has acquired a 60% option interest (TSX.V: N) on the Destiny Gold Project (Indicated Resource of 364,000 ounces plus an Inferred Resource of 247,000 ounces of gold). In addition, Next Gen is presently advancing the Fate Gold Project adjacent to the Destiny Gold Project, . Next Gen continues to evaluate additional advanced-stage silver, gold and base metal projects.

Next Gen http://www.nextgenmetalsinc.com is the newest company to join the International Metals Group ("IMG") (www.internationalmetalsgroup.com). The Board of Directors is comprised in part with directors from other companies within the IMG group who, along with management, have a combined 150 years or more of experience in all aspects of managing public companies related to the resource industry.

Please send requests for further information to:
Ali H.Alizadeh, Vice President, Exploration, Tel: 604-685-1870, info@nextgenmetalsinc.com


On behalf of the Board of Directors

"Harry Barr"

Harry Barr
President & CEO
Next Gen Metals Inc.

 

Neither the 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.

Note: this release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

 


For Further information, call toll free 1.800.667.1870, Tel: 604.685.1870
www.nextgenmetalsinc.com   info@nextgenmetalsinc.com


Click HERE to Unsubscribe to Next Gen Metal's Email List

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Gold One International Ltd

PRODUCER
CODE : GDO.AX
ISIN : AU000000GDO5
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Gold One is a gold development stage company based in South africa.

Its main assets in production are SUB NIGEL & SPAARWATER and MODDER EAST in South Africa and its main exploration properties are NEW KLEINFONTEIN & TURNBRIDGE, HOLFONTEIN and VENTERSBURG in South Africa and ETENDEKA in Namibia.

Gold One is listed in Australia, in Germany, in South Africa and in United States of America. Its market capitalisation is AU$ 242.1 millions as of today (US$ 213.2 millions, € 156.2 millions).

Its stock quote reached its lowest recent point on April 03, 2009 at AU$ 0.01, and its highest recent level on May 15, 2009 at AU$ 12.00.

Gold One has 807 080 905 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Gold One International Ltd
2007 Annual report
Nominations of Gold One International Ltd
11/3/2008 appoints Macquarie First South Advisors
Financials of Gold One International Ltd
10/29/2015Third quarter update on gold operations at Palito and Sao Ch...
7/28/2015Serabi Gold plc : Second quarter update on gold operations a...
4/16/2015Serabi Gold plc : First quarter update on Serabi's Tapajos g...
Project news of Gold One International Ltd
2/27/2014Pilot Gold reports 6.85 g/t gold over 41.7 metres at Western...
2/18/2014Melkior intersects 6.20 g/t Gold over 10.5 metre=?utf-8?Q?s_...
1/13/2014Beaufield Intersect 3=2E92 g/t Gold Over 13=2E40 Metres Near...
1/9/2014Pilot Gold reports 2.00 g/t oxide gold over 35.0 metres at K...
11/18/2013Pilot Gold reports 8.53 g/t gold over 36.6 metres at Kinsley...
11/1/2013Pilot Gold reports 0.60 g/t oxide gold over 81.0 metres at K...
10/1/2013ROBEX/Exploration Permit Moussala: RC Drilling Up to 18=2E56...
7/23/201315.3 g/t gold over 45.2 metres at KCD target, TV Tower
3/19/2013Pilot Gold drills 25.7 g/t gold over 16.5 metres, further de...
1/22/2013Pilot Gold reports 227 g/t gold over 12=2E0 metres from meta...
1/15/2013Tembo Gold Report First Deep Diamond Drill Hole of 22.81 g/t...
1/9/2013Pilot Gold reports 14.9 g/t gold over 14.1 metres from 50-me...
11/14/2012Pilot Gold reports 11.63 g/t gold over 32.5 metres at TV Tow...
9/5/2012Pilot Gold reports 13.7 metres of 6.03 g/t gold on west side...
8/8/2012El Gallo Phase 1 Production Area DrillingEncounters More Gol...
10/5/201110 g/t Gold over 13 Metres Intersected on Upper Montrose Zon...
8/10/2011Pilot Gold intersects 1=2E87 g/t gold over 48=2E0 metres in ...
2/10/2009(Modder East)Modder East intersects first reef
1/28/2009(Sub Nigel & Spaarwater)hoists first ore at recommissioned Sub-Nigel
1/21/2009(Modder East)Shareholders give thumbs up to Aflease/BMA union
Corporate news of Gold One International Ltd
1/13/2014Melkior and Beaufield intersect 3.92 g/t gold over 13.40 met...
9/3/2013Western Pacific Reports Sampling of up to 20.9 g/t Gold Over...
3/21/2013Red Cloud Congratulates Tyhee Gold on Nomination of Richard...
1/30/2013Tembo Gold Reports Drill Hole TRC0003 at Ngula 1 With 4.73 g...
1/29/2013Pilot Gold reports 2.33 g/t gold over 93.5 metres in step-ou...
9/5/2012Tembo Gold Drills 10.17g/t of Gold Over 6m Including 19.1g/t...
9/4/2012Comstock samples 3.31 g/t Gold over 95 m at VG Zone on QV Pr...
9/4/2012Tucano Gold Ore Resource and Reserve Update
8/21/2012Taku Drills 0.95gpt Gold Over 23.4m at Rosebute in White Gol...
7/16/2012Pilot Gold reports 5.48 g/t gold over 20.4 metres from core ...
5/10/2012Bonterra Assays 73.82 G/T Gold Over 3.0 Metres At The New Ri...
4/12/2012Marathon - Marathon Gold Hits 12.4 g/t Gold Over 5.2 Meters ...
4/10/2012Drilling Intersects 78 Grams per Tonne Gold on Destiny Gold ...
3/13/2012Tembo Gold Reports 16.10 g/t Au Over 3.00 Meters and 3.13 g/...
2/27/2012Marathon - Marathon Gold Hits 2.20 g/t Gold Over 26.2 Meters...
2/10/2012Initial Pilot Gold drilling returns 5.91 g/t gold over 18.4 ...
2/9/2012Assays for Upper Montrose Zone in DDH-MON-11-28 have 7.91g/t...
1/31/2012BONTERRA CONTINUES DISCOVERING HIGH GRADE GOLD ON ITS EASTER...
1/10/2012Marathon - Marathon Gold Intersects 1.48 g/t Gold Over 42.5 ...
12/9/2011Taku Intersects 2.3 Grams per Tonne Gold Over 1.0m at Portla...
12/5/2011Marathon - Marathon Gold Intersects 4.59 g/t Gold Over 18.1 ...
10/26/2011Marathon - Marathon Gold Intersects 2.05 g/t Gold Over 30.8 ...
10/11/201143.7 Grams/Tonne Gold Over 7.4 Metres Intersected on Southwe...
9/7/2011BonTerra Drills 14.85 g/t Gold over 15.3 Metres at Eastern E...
9/7/2011Marathon - Marathon Intersects 5.15 g/t Gold Over 29.2 Meter...
8/10/2011Marathon - Marathon Gold Intersects 8.26 g/t Gold over 5.5m ...
8/9/2011Marathon - Marathon Expands It's "Heart of Gold" with 16.15g...
7/27/2011Marathon - Marathon Continues Successful Results at Leprecha...
3/24/2011Auriga Gold's Drilling at Maverick Gold Project, Manitoba, I...
2/6/2009High court sanctions scheme of arrangement
2/2/2009Strategic and operation update
1/29/2009COMPETITION COMMISSION AND FOREIGN INVESTMENT
1/13/2009secures additional funding for Modder East completion
12/19/2008Scheme of arrangement update
12/15/2008Dealing in securities by directors
12/12/2008Change to the board of directors
12/10/2008Withdrawal of cautionary announcement
12/2/2008acquires prospective Mozambique concession
11/26/2008TRADING STATEMENT, ACQUISITION ISSUE, FINANCIAL EFFECTS...
11/20/2008BMA Gold deal creates new international gold company
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
AUSTRALIA (GDO.AX)JSE (GDO.JSE)
0.300+0.00%285.00+0.00%
AUSTRALIA
AU$ 0.300
01/29 13:54 -
0%
Prev close Open
0.300 0.295
Low High
0.295 0.300
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.300 -%
Volume 1 month var.
245,319 -%
24hGold TrendPower© : 34
Produces Gold
Develops
Explores for Copper - Gold - Iron
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/12/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.76-1.52%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 11.04-1.95%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.56-3.12%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.44-2.01%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.23-1.17%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.23-4.17%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20-7.14%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.76+2.03%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.18-0.95%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :