Toronto, ON / ACCESSWIRE / March 12 2014 / Golden Share Mining Corporation ("Golden Share" or the "Company" - TSXV:GSH) is pleased to provide an update on its Berens River project.
A property-wide compilation has been initiated following Golden Share's 2013 diamond drilling on Vein N?3 and highlights DDH NZ 88-19 with an intercept of 6.93 g/t Au and 46.07 g/t Ag over 7.50 m. This historical hole was drilled by Noramco in the late eighties to test an east-west striking shear coincident with a VLF anomaly. The gold-silver mineralization corresponds to the VLF anomaly and is hosted in mafic to ultramafic rocks. This diamond drill hole is very important for several reasons :
-It is located 1.5 km South of Vein N?1 and 1.9 km South of Vein N?3,
-It represents an additional, distinct, system from Veins N?1 and N?3,
-It is located on strike with a 700 m long east-west trending VLF anomaly,
-It is isolated and shows the mineralization to be open in all directions,
-This new area has seen virtually no previous drilling,
-While the bottom intercepts shows some very high grade individual intercepts up to 52.80 g/t Au and 476.26 g/t Ag over 0.50 m, gold and silver mineralization are fairly widespread throughout the entire drill hole.
For additional details see figures 1 and 2 below or visit : http://www.goldenshare.ca.
President and Chief Executive Officer Philippe Giaro commented:
"We are very pleased with these developments as they further confirm the potential of the Berens River property. These recent compilation results also validate our strategy to implement a property-wide exploration program as most of the historical work to date has centred on two main historical areas, Veins N?1 and N?3. We see the need to establish a refined geological model for the area and this recent compilation is a very good step in this direction. The collection of additional structural data and proper characterization of all known mineralized showings with a refined geological understanding will allow the development of systematic targets which can in time be supported by modern geophysical coverage of the property. I would like to thank all visitors to our booth during PDAC 2014. Berens River remains very much at the forefront of Golden Share's development strategy."
DDH NZ 88-19
The full results for DDH NZ 88-19 include, from top to bottom of the hole :
-0.64 g/t Au and 1.99 g/t Ag @ 2.00 m from 34.00 to 36.00 m
-2.47 g/t Au and 27.84 g/t Ag @ 0.50 m from 38.00 to 38.50 m
-0.93 g/t Au and 7.92 g/t Ag @ 6.90 m from 39.00 to 45.90 m including :
-1.27 g/t Au and 4.01 g/t Ag @ 1.00 m from 40.00 to 41.00 m
-2.09 g/t Au and 15.91 g/t Ag @ 0.54 m from 42.96 to 43.50 m
-1.75 g/t Au and 19.89 g/t Ag @ 0.60 m from 44.30 to 44.90 m
-1.33 g/t Au and 17.24 g/t Ag @ 1.50 m from 80.90 to 82.40 m
-0.78 g/t Au and 14.96 g/t Ag @ 2.10 m from 83.40 to 85.50 m
-1.59 g/t Au and 17.04 g/t Ag @ 3.50 m from 92.00 to 95.50 m
-2.74 g/t Au and 19.89 g/t Ag @ 0.50 m from 93.50 to 94.00 m
-2.71 g/t Au and 11.93 g/t Ag @ 0.50 m from 94.00 to 94.50 m
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-6.93 g/t Au and 46.07 g/t Ag @ 7.50 m from 103.85 to 111.35 m including :
-52.80 g/t Au and 476.26 g/t Ag @ 0.50 m from 104.35 to 104.85 m
-20.16 g/t Au and 23.86 g/t Ag @ 0.50 m from 110.35 to 110.85 m
-14.57 g/t Au and 23.86 g/t Ag @ 0.50 m from 110.85 to 111.35 m
Compilation work
The current compilation work involves the building of a property-wide ArcGis data base comprising all available surface exploration data and diamond drilling information, specifically targeting the overall property, well beyond the existing compilation focussed only on Veins N?1 and N?3.
The following surface historical information has been digitized so far : 3,351 outcrops, 306 structural measurements, 469 surface grab samples, 222 soil and MMI geochemical samples, 40 trenches, 144 VLF anomalies, 30 ground magnetic anomalies, 21 ground EM anomalies, 78 conductors (EM aiborne). A total of 408 historical diamond drill holes have also been digitized so far along with 4,596 core samples for a total length of 3,335 m. This includes drill holes previously digitized by InnovExplo and previously reported.
This data base will now be constantly updated as new information becomes available and will serve as an essential tool for the upcoming 2014 summer surface program on Berens River.
About Golden Share
Golden Share Mining Corporation is a Canadian-based mining exploration company developing a promising and well-balanced property portfolio in the mineral belts of Eastern Canada, a politically stable environment with a history of rich mineral endowment.
On July 25, 2013 shareholders of the Company approved the merger with Silvore Fox Minerals Corp., a Canadian junior explorer listed on the TSX Venture Exchange (see press release dated July 25, 2013). Following this transaction Beijing Donia Resources Co. Ltd., a Chinese state-controlled company, has become Golden Share's largest shareholder with approximately 24.37% of its issued and outstanding shares. Sinotech Minerals Exploration Co. Ltd., a leading Chinese mineral exploration and development company, is a 50.03% shareholder of Beijing Donia Resources Co. Ltd (For further details please see the recent Sinotech corporate presentation on: http://www.goldenshare.ca).
This new Chinese partner recognizes the value of Golden Share's well balanced portfolio of properties and sees the merged entity as an ideal platform to further develop its activities in mining exploration and development in North America, and notably in Eastern Canada, a politically stable environment with a history of mineral endowment.
Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a << Qualified Person >> as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.
FOR MORE INFORMATION, CONSULT: http://www.goldenshare.ca
OR OUR FACEBOOK PAGE AT:
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Golden Share Mining Corporation
Philippe Giaro, President & CEO
Tel: 1-905-968-1153 or Tel: 32-473-52-30-29
E-mail: [email protected] or E-mail: [email protected]
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.
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Figure. 1 - Berens River surface geology and DDH NZ 88-19
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Figure. 2 - DDH NZ 88-19 drill section