Open Gold Drills 8.95m of 2.11 g/t Gold, 0.39% Copper and 7.0 g/t Silver
Published : April 27, 2011
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Keywords :   Canada | Copper | Diamond | Gold | Market | Senator | Silver |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2011) - Open Gold Corp. (News - Market indicators)(FRANKFURT:5OG) ("Open Gold" or the "Company") is pleased to announce the results from the first phase of drilling at its Eholt gold-copper Project, located in the Boundary District near Grand Forks, British Columbia. Approximately 1,920 meters were drilled in eight core holes. Six holes tested the Dead Honda zone and two, EH 11-04 and 05, were drilled in the Senator zone.

Drill Hole #
From To Length Gold Copper Silver
(m) (m) (m) g/t % g/t
EH 11-01 118.48 120.76 2.28 0.43 0.05 nil
EH 11-02 197.00 205.3 8.3 1.45 0.35 4.5
  201.70 205.3 3.6 2.35 0.29 4.2
  212.7 218.3 5.6 0.77 0.33 3.0
  213.65 215 1.35 1.88 0.82 11.3
EH 11-03 5.11 9.00 3.89 0.62 0.14 3.8
  114.91 115.45 0.54 2.70 0.23 4.9
  264.26 285.60 21.35 0.35 0.11 2.0
  313.23 317.16 3.93 0.27 0.48 nil
EH 11-04 No significant assays      
EH 11-05 12.40 14.00 1.60 0.91 nil 13.4
EH 11-06 No significant assays      
EH 11-07 98.85 101.05 2.65 6.66 0.46 7.0
  104.82 105.70 0.88 1.84 0.50 8.7
  109.00 109.66 0.66 4.23 1.53 23.3
  121.20 130.15 8.95 2.11 0.39 7.0
EH 11-08 13.85 15.65 1.8 0.96 0.025 nil
  57.57 69.38 11.80 0.41 0.04 nil

All holes drilled in the Dead Honda zone intercepted thick intervals of hornfels and garnet+pyroxene+/-epidote skarn developed in calcareous clastic and carbonate rocks of the Triassic Brooklyn formation. These rocks are cut by numerous, post-mineral syenite dikes and sills of possible Eocene age. Sulfide mineralization in the skarn consists of disseminated and semi-massive pyrite+pyrrhotite+/-chalcopyrite. A positive correlation is seen between gold and copper grades.

Holes EH 11-01 and EH 11-06 were drilled at 240 degrees -50 dip and 233 -50 dip, respectively, and were designed to test north-northwest trending, east dipping skarn mineralization exposed in trench TR07-17 (10.25 metres grading 5.31 g/t Au and 0.21% Cu). The holes encountered weakly anomalous gold and copper mineralization associated with strong garnet-pyroxene skarn, which may represent the down dip extension of mineralization exposed in the trench.

Holes EH 11-02 and 03 were each drilled from the same pad, located approximately 160m east of EH 11-01, and were oriented at 233 degrees with dips of -50 and -70 respectively. The holes were designed to test the down dip extent of mineralization cut in hole 95-4, which contained 2.7 g/t Au and 0.28% Cu over 27.82 meters. Hole EH 11-02 encountered 8.3 meters of 1.45 g/t Au and 0.35% Cu associated with strong garnet-pyroxene skarn alteration. Hole EH 11-03 cut a 21.35 meter zone of lower grade mineralization associated with garnet-pyroxene skarn beginning at 264 meters, which may represent the down dip extent of mineralization encountered in Hole EH 11-02.

Drill holes EH11-07 and EH 11-08 were drilled along section, 75 and 150m southwest of hole EH 11-02, in order to determine the orientation of the mineralized zone in holes EH 11-02 and 95-4. Both holes encountered thick intervals of strong garnet+pyroxene+epidote skarn alteration and sporadic Au and Cu mineralization. The best intercepts were in hole EH 11-07, where 8.95 meters grading 2.11 g/t gold and 0.39% copper was cut beginning at 121 meters. This interval correlates with the zone encountered in hole 95-4, and suggests a north-east strike and 65 degrees east dip of the mineralized zone. The zone remains untested along strike to the northeast.

Holes EH 11-04 and 05 were drilled at the Senator showing to test gold and copper-bearing massive sulfide lenses exposed in the south and west walls of the Senator pit. These flat-lying lenses occur in Triassic Knob Hill chert and porphyritic volcanic rocks, and are localized between two Eocene syenite sills. The holes failed to cut massive sulfide mineralization, however hole EH 11-05 encountered 1.6 meters grading 0.91 g/t gold in silicified and brecciated chert.

The drill program, including logging, drill core sampling and QA/QC was supervised by Richard Parish, P.Geo., of Coast Mountain Geological LTD. Core was logged and sampled in a secure facility in Grand Forks, B.C. After being logged, each box was photographed and core was split lengthwise in half using a Diamond core saw. Samples varied from 0.5m to 3.0m in length depending on geologic contacts, degree of alteration and visible mineralization. Poly-bagged split core was placed in security-sealed shipping sacks, which were transported to Acme Labs in Vancouver, B.C. by Van Kam Freightways. All samples were assayed for 36 elements using ICP-MS on a 15 gram pulp. In addition to Acme's ISO compliant quality control program, a comprehensive QA/QC program was undertaken by Coast Mountain personnel. This involved insertion of blind certified standards, blanks and duplicate samples at regular intervals to verify the accuracy of results provided by Acme.

Further drilling is planned at the Seattle Showing later in the year when conditions are optimum for access on the Trans Canada Trail.

Jim Kermeen, M.Sc., P.Eng., a Director of Open Gold and the Qualified Person for this release states, "I regard the Seattle as the most promising of the six areas selected for detailed exploration on the Eholt Project and look forward to the results from the upcoming program."

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.

Open Gold Corp.
Hari Varshney
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Open gold Corp.

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Open Gold is a gold exploration company based in Canada.

Its main exploration property is EHOLT in Canada.

Open Gold is listed in Canada. Its market capitalisation is CA$ 293 800 as of today (US$ 221 290, € 205 866).

Its stock quote reached its highest recent level on February 18, 2011 at CA$ 0.35, and its lowest recent point on April 03, 2015 at CA$ 0.01.

Open Gold has 29 380 000 shares outstanding.

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4/27/2011(TSX.V: OPG) Drills 8.95 m of 2.11g/t Gold, 0.39 % Copper an...
4/27/2011Drills 8.95m of 2.11 g/t Gold, 0.39% Copper and 7.0 g/t Silv...
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