Update on Pistol Lake PropertyGolden Share Mining Corp(C:GSH)
Shares Issued 34,307,193
Last Close5/26/2009 $0.08
Wednesday May 27 2009 - News Release
Mr. Philippe Giaro reports
GOLDENSHARE MINING CORPORATION: HISTORICAL DATA OUTLINES GOLD MINERALIZATIONOVER 1 KM2 IN THE SHEBANDOWAN INTRUSIVE COMPLEX OF THE PISTOL LAKEPROPERTY, ONTARIO, CANADA
Golden Share Mining Corp. has provideddetails of the recent compilation on the Pistol Lake property locatedin Northwestern Ontario, Canada.
The Pistol Lake property is accessible by road and is located70 km west of Thunder Bay, Ontario, in the Shebandowan greenstone belt,a classic Archean sequence exhibiting strong similarities to the Hemlo,Timmins, Kirkland Lake and Val d'Or gold camps both in geological andtectonic evolution. Of specific interest is the synvolcanic ShebandowanFelsic Intrusive Complex ("SFIC") which bears similarities with otherprolific syn-volcanic gold bearing complexes such as the Bourlamaquebatholith and the Kirkland Lake stock of the Val d'Or and Kirkland Lakemining camps.
Golden Share's recent compilation has highlighted importantauriferous occurrences over a 1km2 area within the SFIC. See attached"Gold Potential of Shebandowan Intrusive Complex" figure:
https://media3.marketwire.com/docs/PistolLake.pdf.
- The Martin Bay Zone consists in a highly altered regional deformationzone estimated to be 250 m in width where surface sampling of a quartzvein and stringer zone historic occurrence, as well as rock floatmaterial in its immediate vicinity, returned gold and silver values upto 107.45 g/t Au and 826.00 g/t Ag respectively. One preliminary 5 mwide trench was executed over 175 m by previous operator RJKExplorations ltd in 2004 and exposed highly deformed and altered quartzmonzonite locally transected by zones of sulfide mineralization andquartz veins, stringers, stockworks and breccias. Eighteen grab samplestaken from the trench returned assays varying between 0.01 and 21.56g/t Au with 7 samples yielding grades above 1.00 g/t Au.
- The Trench 2 Zone, possibly northeast trending, is locatedone kilometre south-east of the Martin Bay zone, also within the SFIC.Preliminary sampling of rock float material returned gold values of upto 18.60 g/t Au. A second trench executed by RJK over 65 m exposedquartz monzonite with northeast trending joints and fractures and athree m wide zone exhibiting quartz veining sub parallel to thelineament. Four grab samples taken from the trench returned assaysvarying between 0.04 and 0.14 g/t Au.
- Outside the two aforementioned previous trenches, animportant number of outcrop grab samples returned values between 0.01and 2.65 g/t Au in association with sheared and altered quartzmonzonite within the 1km2 Martin Bay - Trench 2 area.
Given its potential for gold mineralization, the SFIC has beenextremely underexplored and Golden Share's recent compilation providesexcellent exploration targets. The previous trenches were neverproperly cleaned and mapped and no drilling has ever been executed onthese mineralized targets. Pistol Lake was acquired in October 2008 andno surface work was executed within the SFIC as insufficient timeremained in the 2008 field season. A surface program is planned byGolden Share during the summer of 2009 to execute detailed mapping ofthis historic mineralization and to define drill targets for furtherinvestigation.
Golden Share's exploration programs are under the supervisionof Mrs. Laurence Huss, P. Geo., and Vice-President Exploration.Philippe Giaro, P. Geo., President and CEO of Golden Share MiningCorporation and Qualified Person for Golden Share, has reviewed andapproved the content of this release.
© 2009 Canjex Publishing Ltd.