FOR IMMEDIATE RELEASE Symbol : GSH � TSX V
GOLDEN SHARE IDENTIFIES 14 IP ANOMALIES WITH SURFACE GRADES UP TO 759.0 G/T AU ON ELWOOD
Montreal, June 5th 2008 � Golden Share Mining Corporation (TSXV:GSH) is pleased to provide an update on its Elwoodproperty.
The Elwood property is located 70 km west of the city of Thunder Bay, Ontario, Canada, in the Shebandowan greenstone belt, a classic sequence comprising mafic volcanics and granodioritic intrusions flanked by Temiskaming sediments towards the south. The Shebandowan belt is recognized as a favourable geological environment for gold deposits and Golden Share�s Elwood property remains underdeveloped in the light of the belt�s potential.
A first surface work program was conducted in the fall of 2007 by Golden Share and the results have now been integrated in the on-going compilation of the property in preparation for the upcoming field campaign.
The fall 2007 program consisted in 42.3 km of line cutting executed over an area of 2.1 km� covering the eastern most edge of the Peewata� granodiorite and in particular over the Penziwol area, an east-west trending mineralized zone, where numerous 1-2 kg surface rock samplesreported grades in excess of 30.0 g/t Au with a peak at 759.0 g/t Au (see press release dated May 22nd 2008).
An induced polarization (IP) survey was executed on the freshly cut grid and yielded the following results:
- 14 sub-parallel, generally east-west trending, IP anomalies were defined.
- 9 IP anomalies show a strike extension of 500 m or more, with two anomalies transecting the entire grid with strike lengths in excess of 2 km.
- 4 IP anomalies are associated with auriferous surface rock samplesand notably :
- The Penziwol area is associated with anomalies 10 and 11 and several surface rock samplesreported grades above 50.0 g/t Au with a peak at 759.0 g/t Au.
- The S3 zone is associated with anomaly 6 and surface rock samplesreported grades up to 131.0 g/t Au.
Philippe Giaro, President and CEO, stated �This preliminary work confirms that the granodiorite represents a prime target. A clear association has also been established between some of the IP anomalies and auriferous surface values. One of the objectives of the upcoming field campaign is to execute a surface follow-up on all these anomalies. The Elwood property has virtually been unexplored for the past 15 years and very little systematic follow-up work has been executed given the encouraging preliminary results obtained so far. We look forward to unlocking the potential of the property�.
Muroc Inc., a geological consulting firm based in St-Adolphe d�Howard, Quebec, has appointed Mr. Pierre Poisson to the position of senior geologist for the Elwood project. A first phase of work to be executed during the summer of 2008 will consist in thorough prospecting and additional geological mapping with the foremost objectives being to :
- Fully delineate the existing high grade gold zones,
- Identify additional mineralized zones,
- Assess the bulk tonnage potential of the granodiorite.
Golden Share intends to report on a regular basis on the advancement of its work programs. The Company is also simultaneously working towards increasing its visibility in Canada and Europe.
Philippe Giaro, P.Geol., President and CEO of Golden Share Mining Corporation and Qualified Person for Golden Share, has reviewed and approved the content of this release.
About Golden Share Mining Corporation
Golden Share Mining Corporation (TSXV:GSH) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada. Golden Share was created through the reorganization of SearchGold�s Canadian gold assets and is lead by an experienced management team at the technical and corporate level. The Company�s projects straddle three greenstone belts of Eastern Canada, are accessible by road and are all located close to the established mining centers of Val d�Or and Rouyn-Noranda in Quebec and Shebandowan, west of Thunder Bay, in Ontario.
Golden Share recently completed its initial public offering and finalised a $2,666,025 financing with Canaccord Capital Corporation who acted as the agent. The Company has 19,605,193 common shares issued and outstanding and Golden Share�s common shares have started trading on the TSX Venture Exchange under the symbol � GSH � on January 14th 2008. The net proceeds from the initial public offering will be used by Golden Share mostly for exploration work on its Forsan and Malartic Lakeshore properties, and for working capital and general corporate purposes.
Golden Share Mining Corporation MI3 Communications Inc.
Philippe Giaro, President & CEO Daniel Vine
Tel: 32-473-52-30-29 Vice-President
Golden Share Mining Corporation
Denis Tremblay, Vice-President
Tel : 514-866-4224
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
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Golden Share Mining Corp.
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EXPLORATION STAGE |
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CODE : GSH.V |
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ISIN : CA38118X1069 |
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Golden Share Mining is a gold exploration company based in Canada. Golden Share Mining holds various exploration projects in Canada. Its main exploration properties are MALARTIC LAKESHORE, FORSAN, LAC FORTUNE and PISTOL LAKE PROPERTY in Canada. Golden Share Mining is listed in Canada. Its market capitalisation is CA$ 1.8 millions as of today (US$ 1.4 millions, € 1.3 millions). Its stock quote reached its highest recent level on April 01, 2011 at CA$ 1.30, and its lowest recent point on March 19, 2020 at CA$ 0.03. Golden Share Mining has 35 440 000 shares outstanding. |