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Cours Or & Argent

Nayarit Gold Inc.

Publié le 10 février 2009

intersects 31.08 metres of 10.5 g/t gold and 333 g/t silver, or 16 g/t gold equivalent, or 960 g/t s

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Mots clés associés :   Canada | G Mexico |

Halifax, Nova Scotia

February 10, 2009



Press Release 002 � 2009


Nayarit Gold intersects 31.08 metres of 10.5 g/t gold and 333 g/t silver, or 16 g/t gold equivalent, or 960 g/t silver equivalent


Additional intersection of 8.7 metres of 11.7 g/t gold and 1,304 g/t silver, or 33.4 g/t gold equivalent, or 2,006 g/t silver equivalent

 

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


The Company is presently completing a series of infill and expansion holes at its Animas/Del Norte Discovery zone with the aim of completing a NI 43-101 resource estimate by the end of Q2/09.  The present series of drill holes were completed to evaluate the potential mineralized zone in several locations to increase the density of the drilling, and drill in areas where the mineralized zone remains open.


The mineralized zone is characterized by three parallel veins, with the Del Norte vein demonstrating the highest and most consistent grades and widths.  Mineralization has been identified along the Del Norte vein for approximately 700 metres in strike length and up to 400 metres in depth with the mineralized zone open at depth and along strike.  


A series of drill holes were completed to increase the density within the mineralized zone, and drill hole OR-08-157 returned the highest single interval to date.  The drill hole recorded a 31.08 metre interval through the Del Norte vein from 200.65 metres to 231.73 metres assaying 10.5 g/t gold and 333 g/t silver or 16.0 g/t gold equivalent or 960 g/t silver equivalent. Several other infill holes also returned significantly high values including holes OR-08-146, 150, 152 and 136 and are illustrated in the table below.




In addition, several holes broadened the mineralized zone with drill hole OR-08-141 intersecting 7.5 metres of 1.04 g/t gold and 207 g/t silver or 4.49 g/t gold equivalent or 269 g/t silver equivalent, and drill hole OR-08-156 intersecting 1.37 metres of 4.3 g/t gold and 234 g/t silver, or 8.2 g/t gold equivalent or 491 g/t silver equivalent with areas to the east and at depth still remaining open.  Highlights from drill holes are illustrated below:


Hole

To

From

Interval (m)

Gold (g/t)

Silver (g/t)

GoldEq (g/t)

SilverEq (g/t)

 

 

 

 

 

 

 

 

OR-08-136

191

192.5

1.5

1.1

295

6.0

358

And

228.5

258.5

30

1.4

123

3.4

204

Incl

244.5

248.5

4

8.4

727

20.5

1231

 

 

 

 

 

 

 

 

OR-08-141

82.75

99.75

17.00

0.6

112

2.4

146

Incl

90.75

93.75

3.00

0.9

287

5.7

343

 

 

 

 

 

 

 

 

OR-08-143

62.35

69

6.65

2.4

272

7.0

419

 

 

 

 

 

 

 

 

 OR-08-145

135.4

143.4

8

0.6

116

2.5

153

 

 

 

 

 

 

 

 

OR-08-146

148.65

178.4

29.75

2.0

349

7.8

471

Incl

154.87

167

12.13

3.7

702

15.4

924

 

 

 

 

 

 

 

 

OR-08-148

146.5

175

28.5

0.6

171

3.4

207

Incl

149.5

155

5.5

0.8

491

9.0

540

 

 

 

 

 

 

 

 

OR-08-150

144.5

166.07

21.57

3.9

436

11.2

669

Incl

157.5

161.8

4.3

16.6

1521

41.9

2514

 

 

 

 

 

 

 

 

OR-08-152

181.5

222

40.5

4.1

363

10.2

611

Incl

208.3

217

8.7

11.7

1304

33.4

2006

 

 

 

 

 

 

 

 

OR-08-154

228.65

236.8

8.15

3.6

227

7.4

444

 

 

 

 

 

 

 

 




Incl

235.6

236.8

1.2

22.4

1445

46.5

2789

 

 

 

 

 

 

 

 

OR-08-156

222.39

225.8

3.41

1.8

131

4.0

241

And

228.05

229.42

1.37

4.3

234

8.2

491

And

252.7

256.05

3.35

0.9

98

2.5

150

 

 

 

 

 

 

 

 

OR-08-157

170.55

179.9

9.35

0.5

34

1.1

64

And

200.65

231.73

31.08

10.5

333

16.0

960

Incl

213.65

220.22

6.57

46.0

1283

67.4

4041

 

 

 

 

 

 

 

 

OR-08-159

44

49.4

5.4

0.5

53

1.4

83

Incl

44

46.05

2.05

1.0

108

2.8

170

*Gold Equivalent Values were calculated based on 60 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.


�The drill results continue to demonstrate positive grades and width, illustrating the tremendous continuity of the discovery zone.�  Stated Colin Sutherland, President & CEO.  �The Company continues to move towards a NI 43-101 resource estimate, and remains positive on the potential of the District.�  


Drilling continues at the Animas/Del Norte Discovery as well as the San Francisco and Pantaleona targets.  An update from these zones will be provided shortly.  The Company is exploring other targets, completing mapping and soil and rock chip sampling along several of the known structures that hosted old mines. These programs will lead to additional drilling as targets are developed and data will be released when received.


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


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


The Company reports that it has issued 50,000 stock options each to two independent directors of the corporation.  The stock options are priced at $0.50 and vest over eighteen months, expiring on February 9, 2015.


Mr. Hall Stewart, 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 Hermosillo, Sonora (Certification ISO 9001).. Sample pulps are shipped from there to ALS-Chemex Laboratories in North Vancouver, Canada for analysis.  Gold is determined by fire assay with an atomic absorption finish, silver is analyzed by ICP techniques with high grade values being confirmed by fire assay. Gold equivalent values are calculated using a 60:1 ratio.


ABOUT NAYARIT GOLD INC.


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


CAUTIONARY STATEMENT

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.  No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.  This News Release includes certain �forward-looking statements�.  All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Nayarit, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.  Important factors that could cause actual results to differ materially from Nayarit�s expectations are exploration risks detailed herein and from time to time in the filings made by Nayarit with securities regulators.





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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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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...
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10/08/2007Announces Appointment of National Media Associates
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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...
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05/06/2006dicovers Bonanza grade gold and silver; 2 new copper discove...
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Communiqués de Presse de Nayarit Gold Inc.
16/09/2008intercepts 19.26 g/t gold equivalent or 6.26 g/t gold and 64...
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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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