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Re: News Release - Monday, April 06, 2009
Jet Gold Kshish Molybdenum property update
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Vancouver, B.C., April 6, 2009, Robert L. Card, President, Jet Gold
Corp., ("Jet Gold" or the "Company") is pleased to announce it has
received a National Instrument ("NI") 43-101 compliant report entitled
"Technical Report on the Kshish Molybdenum Property, British Columbia,
Canada (the "Kshish Property")" authored by Alex Burton P.Eng, P.Geo.
This report, to be filed on SEDAR, documents the work under taken by
Jet Gold on the Kshish Property in 2008.
The Kshish Property is situated on the south west flank of Mount
Vanarsdoll 11.5 Km (seven miles) northeast of Terrace, British Columbia
and consists of 15 contiguous claims totaling 4,363 hectares (10,780
acres). Jet Gold has an exclusive option agreement to acquire 100%
interest in the Kshish Molybdenum Property.
The Technical Report recommends a multi faceted exploration program
with geologic mapping and sampling, geochemical and geophysical surveys
over a large area of altered granite bedrock. A northwest trending
ellipse, roughly 4 km (2.5 miles) long by 2 km (1.2 miles wide) has
been identified through soil samples with anomalous molybdenum values
which encompasses several historic molybdenum showings as well as newly
discovered mineralization.
There is indication that this zone may be longer, as exploration and
the historic soil grid lines are incomplete and anomalous molybdenum
values are present further to the northwest. Within this zone of
alteration, the young granite intrusive is highly fractured and these
near horizontal fractures contain quartz veins carrying molybdenite in
them. Because of this, the deposit type has the potential to have a
high Mo grade and tonnage over a large area. Values ranging from 38.6
ppm Mo to 857 ppm Mo were collected from exposed molybdenum and mica
in-filled fractures in the altered granite. It is anticipated that
values from un-weathered exposures will be significant. As an example,
an intrusive breccia zone was discovered along Newtown Creek from which
a 2.15kg sample (H229917) returned 2,330 ppm Mo.
In this report, Mr. Burton summarizes that, "The character and
distribution of the molybdenum mineralization observed on the property
and the extent of alteration to the host rock is sufficient to
recommend that Jet Gold proceed with additional work on this property
of merit. Of note, the outer boundaries of this large area of
alteration and mineralization have not yet been established."
Robert Card, President of Jet Gold, stated, "Given the current market
conditions, the Company will be concentrating on low cost, value-added
surface exploration to define and further expand the bounds of the
molybdenum mineralization on the Kshish Property and if time and the
market allows, we will move forward aggressively with drilling
identified targets."
Terrace, located in northwestern British Columbia, is the service hub,
on the Skeena River at the junction of Highway 16, the major highway in
the region, and Highway 37 south to Kitimat. The community sits on the
Canadian National Railway and the Yellowhead Highway. CN Rail's
subdivision line to Kitimat and the main route to Prince Rupert.
Terrace is 58 km (36 miles) inland from the port of Kitimat, 145 km (90
miles) east of the port of Prince Rupert and 584 km (365 miles) west of
Prince George. The community is serviced by a major regional airport
and is the service center for logging activity, First Nation
communities, industrial support for the RioTinto Alcan smelter and
government services.
This news release has been reviewed and approved by Alex Burton P.Eng,
P.Geo, a Qualified Person as defined by NI 43-101, and Robert Card,
President of Jet Gold.
On behalf of the Board of Directors
Jet Gold Corp
"Robert L. Card"
Robert L. Card
President
Investor Contact:
Robert L. Card
Jet Gold Corp.
604-687-7828
Robertcard@shaw.ca
www.jetgoldcorp.com
"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."
All statements, other than statements of historical fact, in this news
release are forward-looking statements that involve various risks and
uncertainties, including, without limitation, statements regarding the
potential extent of mineralization and reserves, exploration results
and future plans and objectives of Jet Gold Corp. These risks and
uncertainties include, but are not restricted to, the amount of
geological data available, the uncertain reliability of drilling
results and geophysical and geological data and the interpretation
thereof, and the need for adequate financing for future exploration and
development efforts. There can be no assurance that such statements
will prove to be accurate. Actual results and future events could
differ materially from those anticipated in such statements. These and
all subsequent written and oral forward-looking statements are based on
the estimates and opinions of management on the dates they are made and
are expressly qualified in their entirety by this notice. The Company
assumes no obligation to update forward-looking statements should
circumstances or management's estimates or opinions change.
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Copyright (c) 2009 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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Jet Gold Corp
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EXPLORATION STAGE |
CODE : JAU.V |
ISIN : CA47712W3075 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
JetGold is a gold exploration company based in Canada. JetGold holds various exploration projects in Canada. Its main exploration properties are VIRGINIA in USA and KSHISH in Canada. JetGold is listed in Canada. Its market capitalisation is CA$ 1.6 millions as of today (US$ 1.2 millions, € 1.1 millions). Its stock quote reached its highest recent level on May 25, 2007 at CA$ 97.55, and its lowest recent point on September 04, 2015 at CA$ 0.03. JetGold has 13 069 728 shares outstanding. |