|
NEWS
RELEASE
|
JUNE 29, 2010
|
NORTH ATLANTIC DRILLS INTERCEPTS AT THE FT GOLD
PROJECT IN SOUTHERN MALI
HIGHLIGHTS INCLUDE:
�
44 METRES AT 1.95 GPT AU,
�
32 METRES AT 2.65 GPT AU,
�
12 METRES AT 8.99 GPT AU and,
�
8 METRES AT 7.10 GPT AU
North
Atlantic Resources Ltd. (NAC:TSX-V) ("North Atlantic" or "the
Company") is pleased to announce
drill results from approximately 1,100 metres of drilling from the ongoing
reverse circulation (RC) drill program at its 100% owned FT Gold Project
("FT") in Southern Mali. The reported holes are from two significant
areas where gaps existed in the previous drilling and resource models.
The FT project is the Company's most advanced gold discovery with an
initial NI 43-101
compliant resource calculation of 7,880,000 tonnes at a grade of 0.95 grams per
tonne for 241,000 ounces of gold in the indicated category and 10,550,000
tonnes at a grade of 1.05 grams gold per tonne for 353,000 ounces of gold of
inferred category. Property-wide exploration is currently underway at the FT project, and will
consist of 6,000 metres of reverse circulation drilling ("RC"), auger
drilling, and termite mound geochemical sampling.
HIGHLIGHTS
Of
particular note are the results from the "Village Gap" that include:
� 44 metres at 1.95 gpt Au in hole
10FLRC-06 that also included 12 metres at 2.13 gpt Au, 6 metres at �� 7.48 gpt Au and 4 metres at 1.74 gpt Au,
� 72 metres at 1.38 gpt Au in hole
10FLRC-07 that also included 32 metres at 2.65 gpt Au,
� 50 metres at 1.43 gpt Au in hole
10FLRC-08 that also included 8 metres at 7.10 gpt Au and
� 26 metres at 4.35 gpt Au in hole
10FLRC-12A that also included 12 metres at 8.99 gpt Au
In
addition to the "Village Gap", the second major area, the
"Plantation Gap", returned the following highlights:
� 32 metres at 0.48 gpt Au in hole
10TKRC-01 that included 2 metres at 1.52 gpt Au and a second 10 ��� metres at 1.05 gpt Au that included 2 metres
at 4.22 gpt Au,
� 36 metres at 0.61 gpt Au in hole
10TKRC-04 that included 4 metres at 3.61 gpt Au
Results
from the Village Gap area cover approximately 600 metres of strike infill
drilling within the FT resource model. RC drilling in the Plantation Gap area
covers approximately 700 metres of strike infill drilling within the FT
resource model. The drilling represents near surface mineralization to a
maximum vertical depth of approximately 75 metres. These results include oxide
material from 35 to 40 metres vertical depth, and transition zone and sulphide
material below approximately 40 metres. All drill hole inclinations are between
-55 and -70 degrees and true width of the mineralization is 50% to 75% of the
reported drill intercept depending on the drill angle. All assays results are
reported as uncut values.
The results from this drilling program demonstrate the robust
nature of the gold mineralization at FT. A core of higher grade gold
mineralization also includes a broad zone of gold enrichment of up to 50 metres
of core length (approximately 30 metres true width). This geometry should lend
itself to flexible grade control and pit design for preliminary economic
assessment at FT. This assay data will be incorporated into the existing North
Atlantic database and used to plan the next phase of what is expected to be a
combined RC and diamond drill program at FT in Q4 of 2010.
This drilling completes Phase 1 of 4 stages of a 6,000 metre drill
program at FT. Phase 1 consisted of infill drilling to test gaps in the deposit
model at FT. Phase 2 is designed to test Northwest and Southeast strike
extensions of the FT deposit with a series of broadly spaced RC holes. Phase 3
is designed to test gold in soil anomalies which are parallel to sub parallel
to the FT resource area. Phase 4 is reserved to test new targets developed form
termite mound or auger drilling. The results from the ongoing drilling will be
released within the next quarter.
Scott
Waldie, President and CEO of North Atlantic said, "We are very encouraged by the results
from the infill drilling at FT. These results indicate the potential for a considerable increase
in resource grade and tonnage. From this drilling there is now significantly
improved continuity from section to section in the higher-grade areas of the
Village Gap and the Plantation Gap. These results now definitively link the
northern half of the FT deposit with the southern portion which includes the
Village Gap area. All of these attributes will contribute to improving the
project economics as we work toward preliminary assessment of the economic
potential at FT."
In the tables below intersections are calculated down
the drill holes using both a 0.1 gram per tonne (gpt) assay cut-off and a 0.4
gpt assay cut-off. The differing cut-off grades were selected to demonstrate
the wide continuity of the mineralization and to reflect the potential bulk
mining of the entire zone at a 0.1gpt cut-off. The 0.40 gpt cut-off table
intersections demonstrate the higher grade continuity of the mineralization and
reflect the potential for higher grade bulk mining potential of selected zones.
TABLE 1:
Significant Assay Results - "Village Gap" - 0.1 gram per tonne
cut-off (Note 1)
|
HOLE NUMBER
|
FROM
(m)
|
TO
(m)
|
LENGTH
(m)
|
GOLD ASSAY
(grams per tonne)
|
|
10FLRC-01A
|
48.0
|
76.0
|
28.0
|
2.20
|
|
includes
|
48.0
|
68.0
|
20.0
|
2.86
|
|
10FLRC-02
|
6.0
|
24.0
|
18.0
|
0.67
|
|
includes
|
12.0
|
14.0
|
2.0
|
1.54
|
|
10FLRC-02A
|
30.0
|
34.0
|
4.0
|
0.86
|
|
|
44.0
|
76.0
|
32.0
|
0.60
|
|
includes
|
50.0
|
56.0
|
6.0
|
1.34
|
|
10FLRC-03
|
0.0
|
22.0
|
22.0
|
0.39
|
|
10FLRC-03A
|
120.0
|
156.0
|
36.0
|
0.58
|
|
includes
|
128.0
|
134.0
|
6.0
|
1.65
|
|
10FLRC-04
|
0.0
|
22.0
|
22.0
|
1.59
|
|
includes
|
2.0
|
10.0
|
8.0
|
3.64
|
|
10FLRC-05
|
18.0
|
52.0
|
34.0
|
1.34
|
|
includes
|
18.0
|
24.0
|
6.0
|
3.48
|
|
|
28.0
|
36.0
|
8.0
|
1.55
|
|
|
40.0
|
44.0
|
4.0
|
1.40
|
|
10FLRC-06A
|
22.0
|
40.0
|
18.0
|
0.27
|
|
|
44.0
|
88.0
|
44.0
|
1.95
|
|
includes
|
46.0
|
58.0
|
12.0
|
2.13
|
|
|
62.0
|
68.0
|
6.0
|
7.48
|
|
|
82.0
|
86.0
|
4.0
|
1.74
|
|
10FLRC-07
|
0.0
|
72.0
|
72.0
|
1.38
|
|
includes
|
4.0
|
36.0
|
32.0
|
2.65
|
|
10FLRC-07A
|
70.0
|
76.0
|
6.0
|
0.87
|
|
includes
|
72.0
|
74.0
|
2.0
|
1.49
|
|
10FLRC-08
|
22.0
|
72.0
|
50.0
|
1.43
|
|
includes
|
30.0
|
38.0
|
8.0
|
7.10
|
|
10FLRC-08A
|
66.0
|
106.0
|
40.0
|
0.90
|
|
includes
|
70.0
|
86.0
|
16.0
|
1.47
|
|
|
100.0
|
102.0
|
2.0
|
1.12
|
|
10FLRC-09
|
2.0
|
38.0
|
36.0
|
0.80
|
|
includes
|
12.0
|
16.0
|
4.0
|
1.56
|
|
|
28.0
|
34.0
|
6.0
|
2.47
|
|
|
48.0
|
70.0
|
22.0
|
0.17
|
|
10FLRC-10
|
0.0
|
44.0
|
44.0
|
0.35
|
|
includes
|
8.0
|
10.0
|
2.0
|
1.36
|
|
|
30.0
|
32.0
|
2.0
|
2.12
|
|
10FLRC-11
|
0.0
|
20.0
|
20.0
|
0.33
|
|
includes
|
2.0
|
4.0
|
2.0
|
1.08
|
|
|
26.0
|
42.0
|
16.0
|
0.13
|
|
10FLRC-12
|
2.0
|
20.0
|
18.0
|
0.65
|
|
includes
|
4.0
|
10.0
|
6.0
|
1.58
|
|
|
30.0
|
54.0
|
24.0
|
0.28
|
|
includes
|
32.0
|
34.0
|
2.0
|
1.07
|
|
10FLRC-12A
|
4.0
|
30.0
|
26.0
|
4.35
|
|
includes
|
16.0
|
28.0
|
12.0
|
8.99
|
|
|
54.0
|
90.0
|
36.0
|
0.29
|
|
10FLRC-13
|
44.0
|
52.0
|
8.0
|
0.23
|
TABLE 2: Significant Assay Results -
"Plantation Gap" - 0.1 gram per tonne cut-off (Note 1)
|
HOLE NUMBER
|
FROM
(m)
|
TO
(m)
|
LENGTH
(m)
|
GOLD ASSAY
(grams per tonne)
|
|
10TKRC-01
|
0.0
|
32.0
|
32.0
|
0.48
|
|
includes
|
24.0
|
26.0
|
2.0
|
1.52
|
|
|
40.0
|
46.0
|
6.0
|
1.27
|
|
includes
|
42.0
|
44.0
|
2.0
|
3.16
|
|
|
50.0
|
60.0
|
10.0
|
0.53
|
|
|
78.0
|
88.0
|
10.0
|
1.05
|
|
includes
|
80.0
|
82.0
|
2.0
|
4.22
|
|
10TKRC-02
|
2.0
|
14.0
|
12.0
|
0.20
|
|
|
18.0
|
32.0
|
14.0
|
0.22
|
|
|
40.0
|
66.0
|
26.0
|
0.50
|
|
includes
|
50.0
|
52.0
|
2.0
|
2.14
|
|
10TKRC-03
|
12.0
|
80.0
|
68.0
|
0.27
|
|
|
94.0
|
98.0
|
4.0
|
0.96
|
|
includes
|
96.0
|
98.0
|
2.0
|
1.15
|
|
10TKRC-04
|
42.0
|
78.0
|
36.0
|
0.61
|
|
includes
|
46.0
|
50.0
|
4.0
|
3.61
|
|
10TKRC-05
|
54.0
|
76.0
|
22.0
|
0.52
|
|
includes
|
64.0
|
66.0
|
2.0
|
1.77
|
|
|
84.0
|
86.0
|
2.0
|
1.30
|
|
10TKRC-06
|
42.0
|
64.0
|
22.0
|
0.31
|
|
10TKRC-07
|
0.0
|
12.0
|
12.0
|
0.22
|
|
|
30.0
|
38.0
|
8.0
|
1.11
|
|
includes
|
30.0
|
36.0
|
6.0
|
1.27
|
|
|
44.0
|
52.0
|
8.0
|
1.02
|
|
includes
|
46.0
|
48.0
|
2.0
|
2.37
|
|
|
58.0
|
72.0
|
14.0
|
0.17
|
Note 1: Intersections are
calculated down the drill holes using a 0.1 gram per tonne (gpt) or 100 part
per billion (ppb) assay cut-off and allowing a maximum of 4 metres of internal
waste. Assays immediate following the internal waste must carry the waste interval
to be included in a particular intersection. "Includes" is calculated
using a 1.0 gpt or 1000 ppb assay cut-off with the same internal waste
criteria. 0.1 gpt or 100 ppb was chosen as a cut-off to show the wide
continuity of the mineralization and to reflect the potential bulk mining of
the entire zone. All drill hole inclinations are between -55 and -70 degrees
and true width of the mineralization is 50%-75% of the reported drill intercept
depending on the drill angle.
TABLE 3: Significant Assay Results -
"Village Gap" - 0.4 gram per tonne cut-off (Note 2)
|
HOLE NUMBER
|
FROM
(m)
|
TO
(m)
|
LENGTH
(m)
|
GOLD ASSAY
(grams per tonne)
|
|
10FLRC-01A
|
48.0
|
72.0
|
24.0
|
2.53
|
|
includes
|
48.0
|
68.0
|
20.0
|
2.86
|
|
10FLRC-02
|
6.0
|
22.0
|
16.0
|
0.71
|
|
includes
|
12.0
|
14.0
|
2.0
|
1.54
|
|
10FLRC-02A
|
48.0
|
68.0
|
20.0
|
0.84
|
|
includes
|
50.0
|
56.0
|
6.0
|
1.34
|
|
10FLRC-03
|
6.0
|
18.0
|
12.0
|
0.55
|
|
10FLRC-03A
|
126.0
|
146.0
|
20.0
|
0.85
|
|
includes
|
128.0
|
134.0
|
6.0
|
1.65
|
|
10FLRC-04
|
0.0
|
22.0
|
22.0
|
1.59
|
|
includes
|
2.0
|
10.0
|
8.0
|
3.64
|
|
10FLRC-05
|
18.0
|
46.0
|
28.0
|
1.59
|
|
includes
|
18.0
|
24.0
|
6.0
|
3.48
|
|
|
28.0
|
36.0
|
8.0
|
1.55
|
|
|
40.0
|
44.0
|
4.0
|
1.40
|
|
10FLRC-06A
|
46.0
|
86.0
|
40.0
|
2.13
|
|
includes
|
46.0
|
58.0
|
12.0
|
2.13
|
|
|
62.0
|
68.0
|
6.0
|
7.48
|
|
|
82.0
|
86.0
|
4.0
|
1.74
|
|
10FLRC-07
|
4.0
|
60.0
|
56.0
|
1.74
|
|
includes
|
4.0
|
36.0
|
32.0
|
2.65
|
|
10FLRC-07A
|
70.0
|
76.0
|
6.0
|
0.87
|
|
includes
|
72.0
|
74.0
|
2.0
|
1.49
|
|
10FLRC-08
|
26.0
|
48.0
|
22.0
|
2.87
|
|
includes
|
30.0
|
38.0
|
8.0
|
7.10
|
|
10FLRC-08A
|
66.0
|
104.0
|
38.0
|
0.93
|
|
includes
|
70.0
|
86.0
|
16.0
|
1.47
|
|
|
100.0
|
102.0
|
2.0
|
1.12
|
|
10FLRC-09
|
10.0
|
18.0
|
8.0
|
1.07
|
|
includes
|
12.0
|
16.0
|
4.0
|
1.56
|
|
|
24.0
|
38.0
|
14.0
|
1.31
|
|
includes
|
28.0
|
34.0
|
6.0
|
2.47
|
|
10FLRC-11
|
2.0
|
8.0
|
6.0
|
0.77
|
|
includes
|
2.0
|
4.0
|
2.0
|
1.08
|
|
10FLRC-12
|
4.0
|
10.0
|
6.0
|
1.58
|
|
10FLRC-12A
|
8.0
|
30.0
|
22.0
|
5.12
|
|
includes
|
16.0
|
28.0
|
12.0
|
8.99
|
|
|
40.0
|
44.0
|
4.0
|
0.69
|
|
|
68.0
|
78.0
|
Legend Gold détient divers projets d'exploration au Mali et au Niger. Ses principaux projets en exploration sont DALAKAN, DIOKEBA, KANTELA, KOUROUBA, MASSALA, SITAKILI et FT GOLD au Mali et ABELAJOUAD, ASSAOUAS 1 et ASSAOUAS 2 au Niger. Legend Gold est cotée au Canada. Sa capitalisation boursière aujourd'hui est 45,5 millions CA$ (33,1 millions US$, 30,8 millions €).La valeur de son action a atteint son plus haut niveau récent le 24 décembre 2010 à 4,80 CA$, et son plus bas niveau récent le 13 juillet 2017 à 0,02 CA$. Legend Gold possède 52 263 358 actions en circulation. |
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| Publication de commentaires terminée |
|