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Cours Or & Argent

Nayarit Gold Inc.

Publié le 24 septembre 2008

intersects 15.08 g/t gold equivalent over 6.8 metres or 4.34 g/t gold and 536.9 g/t silver

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Halifax, Nova Scotia

September 24, 2008

 

 

 

Nayarit intersects 15.08 g/t gold equivalent over 6.8 metres

or 4.34 g/t gold and 536.9 g/t silver

 

Nayarit Gold extends mineralization

zone an additional 150m to the East

 

Nayarit Gold Inc (TSXV: NYG) is pleased to report additional encouraging drilling results from its ongoing 30,000 metre Phase II drill program at the Orion District in the State of Nayarit, Mexico.

 

The Company has continued step out drilling east of the discovery zone, and has encountered a broad section of high grade gold and silver mineralization in sections 999, 1079 and 1159 which extends the mineralized target zone another 150 metres to the east.  Drilling in section 999 tested the upper part of the mineralized zone, and encountered potential bulk tonnage zones intersecting 27.53 metres of 0.49 g/t gold and 108.5 g/t silver, or 2.66 g/t gold equivalent.  The Company is continuing to step out towards the historic Panteleon mine located 800 metres to the east of the Animas/Del Norte structure with one drill rig, with the other drill rig mobilized to the west in the San Francisco area.  The Company�s primary objective is to continue step out drilling at San Francisco and Pantaleon which could extend the mineralization zone to approximately 4 kilometres in length.

    

Grab samples taken from the Pantaleon workings, located about 800 metres east of hole OR-08-71, returned significantly high values. A series of grab samples taken from mineralized outcrop assayed as high as 4.83, 10.75, 12.50 and 12.25 g/t Au and 256, 1,150, 836 and 1,135 g/t Ag respectively. Samples were collected along an 80 metre strike of the vein. An ongoing mapping, rock and soil sampling program will be followed by drilling in the Pantaleon area. Preliminary mapping between the Animas/Del Norte structure and the Pantaleon suggests they may be hosted in the same structure.

 

�The drill results continue to extend the mineralization zone at Orion along strike to the east. The results continue to exhibit very positive grades and width, and the upper part of the mineralized zone demonstrates bulk tonnage potential,� stated Colin Sutherland, President & CEO.  �The grab samples at the Pantaleon mine demonstrate continuity and potentially yet another extension of the mineralization zone 800 metres east.�   

 

Highlights from the most recent drilling campaign on Sections 999, 1079 and 1159 are as follows:       

 

Table 1: Orion District Drill Hole Intercept Summary    

 

 

 

 

 

 

 

 

Hole #

Section

From

(m)

To

(m)

Interval

(m)

Gold

(g/t)

Silver

(g/t)

Gold Equivalent

(g/t) *

106

999

21.20

48.73

27.53

0.49

108.5

2.66

 

Including

21.40

29.80

8.40

0.51

200.3

4.52

 

 

 

 

 

 

 

 

107

999

70.05

88.93

18.88

0.90

80.5

2.51

 

Including

70.05

75.35

5.30

2.03

185.6

5.74

 

 

 

 

 

 

 

 

108

999

111.57

117.20

5.63

0.37

49.00

1.35

 

 

 

 

 

 

 

 

71

1079

145.20

153.40

8.20

1.49

225.10

5.99

 

 

 

 

 

 

 

 

72

1159

124.00

150.60

26.60

1.01

78.10

2.57

 

Including

138.60

148.10

9.50

2.18

150.6

5.19

 

 

 

 

 

 

 

 

73

1159

168.50

233.80

65.30

0.83

90.30

2.63

 

Including

215.00

233.80

18.80

2.00

215.20

6.30

 

Including

227.00

233.80

6.80

4.34

536.90

15.08

 

 

 

 

 

 

 

 

74

1159

335.85

338.60

2.75

1.33

236.50

6.07

 

 

 

 

 

 

 

 

*Gold Equivalent Values were calculated based on 50 ounces of silver = 1 ounce of gold.

Metallurgical Recoveries and Net Smelter Returns are assumed to be 100%

No capping.  The intervals recorded above are core lengths.

 

Drill hole OR-08-55 was drilled on section 999 with holes OR-07-32 and 34. The Company previously released data down to 189 metres on April 8, 2008. This drill hole intersected the Del Norte vein from 158 to 179 metres, and then a series of stockwork on the north side of the vein.  The Company deepened the hole, and recorded a significant mineralized zone of 7 metres, between 230.4 and 237.4 metres, assaying 1.46 g/t gold and 95 g/t silver or 3.35 g/t gold equivalent.  The combined vein and stockwork zone in this hole is summarized as follows:

 

 

 

 

 

 

 

 

 

Hole #

Section

From

(m)

To

(m)

Interval

(m)

Gold

(g/t)

Silver

(g/t)

Gold Equivalent

(g/t) *

OR-08-55

999

158

237.4

79.4

1.05

65

2.35

 

Including

158

179

21

2.57

128

5.13

 

Including

230.4

237.4

7

1.46

95

3.35

*Gold Equivalent Values were calculated based on 50 ounces of silver = 1 ounce of gold.

Metallurgical Recoveries and Net Smelter Returns are assumed to be 100%

No capping.  The intervals recorded above are core lengths.

 

For additional information including the long section and data please click on the link below:

 

http://www.nayaritgold.com/projects_animas.html

 

William J. Warren Jr., M.Sc., P.Geo and Vice President, Exploration is a Qualified Person (QP) as defined in NI 43-101 and has reviewed this release.

QA/QC Procedures: The Company has implemented a quality control program to ensure best practices in sampling and analysis of the core samples. The core is first logged then sawn in half during the sampling process with the remaining half being retained for verification and reference purposes. Duplicates, standards and blanks are inserted randomly into the sample stream. The samples are delivered directly in security sealed bags to ALS-Chemex Laboratories preparation facility in Guadalajara, Jalisco (Certification ISO 9001). Sample pulps are shipped from there to ALS-Chemex Laboratories in North Vancouver, Canada for analysis by ICP techniques. Metallic screen fire analyses for silver are also regularly run as an additional QA/QC check. Gold equivalent values are calculated using a 50:1 ratio.

 

Nayarit Gold Inc. is a junior resource company dedicated to gold exploration in the proven precious metal districts of Mexico. Management�s goal is to build a profitable resource company and maximize shareholder value through successful exploration programs and continued development.   

 

For further information on Nayarit Gold please visit the company�s website at www.nayaritgold.com or contact:

 

Mr. Colin P. Sutherland

President & CEO

(902) 252-3833

info@nayaritgold.com

 

 

 

 



Nayarit Gold Inc.

CODE : NYG.V
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Nayarit Gold est une société d’exploration minière d'or basée au Canada.

Nayarit Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 47,0 millions CA$ (46,4 millions US$, 35,6 millions €).

La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2006 à 1,92 CA$, et son plus bas niveau récent le 21 novembre 2008 à 0,25 CA$.

Nayarit Gold possède 87 091 000 actions en circulation.

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Financements de Nayarit Gold Inc.
28/07/2008Announces Closing of Brokered Private Placement of $10 Milli...
10/07/2008$10 Million Brokered Private Placement is Fully Subscribed
10/07/2008Announces BMO Capital Markets as Lead Agent and Increase in ...
27/05/2008Proposes Brokered Private Placement of $7 Million
11/01/2008Completes Non-Brokered Private Placement of $2,273,000
02/01/2008Proposes a Non-Brokered Private Placement of up to $2.2 Mill...
05/11/2007Completes $3.3 Million Private Placement with the MineralFie...
21/03/2006closes $3 million non-brokered private placement financing
Attributions d'options de Nayarit Gold Inc.
17/05/2007announces strategic consulting appointment and Grants of sto...
Nominations de Nayarit Gold Inc.
02/09/2008Announces Appointment of Mr. Hall Stewart as Vice President ...
29/04/2008Announces appointment of Megan Spidle as Chief Financial Off...
23/01/2008Announces appointment of Mr. Bradley H. Langille as Strategi...
10/12/2007announces appointment of Terry Christopher, Ph.D. as Chief G...
06/09/2007announces appointment of William J. Warren, Jr. as Vice Pres...
10/08/2007Announces Appointment of National Media Associates
10/07/2007announces appointment of Mr. Donald F. Flemming to the Board...
08/06/2007announces appointment of Colin P. Sutherland as President an...
23/04/2007announces management appointments and Reminds holders of upc...
Rapports Financiers de Nayarit Gold Inc.
12/11/2007Files Third Quarter Statements
Projets de Nayarit Gold Inc.
10/02/2009(Orion Project)intersects 31.08 metres of 10.5 g/t gold and 333 g/t silver,...
21/01/2009(Orion Project)intersects 11.95 metres of 12.4 g/t gold equivalent, or 742 ...
17/12/2008intersects 24.51 metres of 16.65 g/t gold equivalent,
02/12/2008(Orion Project)intersects 30.5 metres of 6.43 g/t gold equivalent, or 2.03 ...
18/11/2008(Orion Project)intersects 3.89 g/t gold equivalent over 24.68 metres
24/09/2008intersects 15.08 g/t gold equivalent over 6.8 metres or 4.34...
14/05/2008(Orion Project)drills 48.35 metres of 2.74 g/t gold and 218 g/t silver, or ...
13/05/2008(Orion Project)consolidates the famous Orion Silver-Gold Mining District
02/04/2008(Orion Project)Makes discovery of new vein system at Orion Project
13/02/2008(Orion Project)intersects gold and silver at depth of 498.5m at the Orion D...
15/11/2007(Orion Project)Encounters high grade gold and silver intercept in Orion Dis...
24/10/2007(Orion Project)encounters another high grade gold and silver intercept in O...
25/09/2007encounters additional high grade gold and silver
16/08/2007(Orion Project) Encounters high grade gold and silver at Orion District
24/07/2007Announces Drilling has Commenced on High Grade Minas de Anim...
05/04/2007High Grade Gold Discovered at El Carriso - Bonanza 1 Concess...
28/03/2007(Orion Project)Technical Report Received for the Orion Gold Project
05/06/2006dicovers Bonanza grade gold and silver; 2 new copper discove...
26/05/2006adds to land position and makes a new copper discovery
29/03/2006New mineralized system discovered - up to 909 gpt silver ove...
06/03/2006Substantial increases in land position and exploration targe...
Communiqués de Presse de Nayarit Gold Inc.
16/09/2008intercepts 19.26 g/t gold equivalent or 6.26 g/t gold and 64...
31/10/2007Jr. Hits MORE Excellent Results on the 175M OZ GOLD Carlin T...
11/10/2007Nayarit Gold encounters 9.59 g/t gold and 980.15 g/t silver,...
26/06/2007announces Phase One 7,000-metre drill program
10/04/2007Intensive Prospecting Program Underway on its Acaponeta Area...
31/03/200638.6 gpt Au and 8030 gpt Ag over 1.4m returned from undergro...
10/01/2006 20.8 gpt gold over 7.0 m in parallel zone at OMZ
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