HY LAKE GOLD RESUMES DRILLING AT ROWAN LAKE MINE PToronto: Jun 16, 2011
HY LAKE GOLD RESUMES DRILLING AT ROWAN LAKE MINE PROPERTY
HY LAKE GOLD INC. (CNSX: HYL; FRANKFURT: HYK) is pleased to announce that it has resumed drilling at its 60%-owned Rowan Lake Mine property, held in a Joint Venture with Red Lake Gold Mines, an affiliate of Goldcorp Inc.
The 5,000 metre drilling program will focus on further extending the Rowan-NT high-grade mineralized structural corridor along the strike, both to the south-west and to the north-east. In addition, drilling is expected to further delineate a series of several sub-parallel, high-grade gold zones to the east-north-east of the Rowan Mine Shaft. The fully funded budget for the current phase of 2011 drilling is $1,500,000.
The Rowan-NT zone represents a 2010 discovery on the Rowan Lake Mine property (see news release of October 26, 2010). All five holes, totalling 1,147 metres, drilled into this new gold zone intersected wide zones of iron carbonate alteration and silica/sulphide replacement within altered and brecciated volcanic and sedimentary rocks. In addition to intersecting high grade gold within this zone, the holes also intersected wide zones (up to 70 metres) of anomalous gold mineralization with potential correlation between them along the Breccia Corridor strike. The Rowan-NT Zone is on trend with the Confederation/Redstar Newman Todd Structure, which has produced favourable results recently (see Confederation news release of April 5, 2011). Hy Lake’s Rowan-NT Zone is open at depth and along strike to the north-east for approximately 1,800 metres.
The current drilling concept suggests drilling 5 pairs (-45 and -60) of holes in this first target area with one pair to the south-west from the 2010 discovery location, infilling to the boundary with Confederation/Redstar Property. The additional four pairs of holes will step out to the north-east of the 2010 drilling. The objective of this program is to define the location of the Breccia Corridor, and Rowan-NT Zone, along strike for approximately 600 metres.
The second target area is located to the east and north of the Rowan Mine Shaft. Four holes drilled in 2010 totalling 1,509 metres intersected the high grade gold zones within the Rowan Main Zones structural corridor (see news-release of October 21, 2010). In addition to intersecting high grade mineralization within volcanic sequences, on trend with existing zones, these holes also intersected high grade mineralization within the sedimentary sequence. This Calc-Silicate Zone (CS Zone) is believed to be a new parallel zone to the north of the known vein zones. The 2011 drilling program will further delineate this new CZ Zone’s lateral and dip extensions as well as determine its structural definition as being vein or breccia type. At present, this corridor has a strike length of over 800 metres and remains open along strike, both east and west, and at depth. The current estimated exploration horizon of this trend is over 3500 metres and has only been explored to a depth of less than 500 metres.
The current drilling concept suggests drilling 3 pairs (-45 and -60) of holes, stepping out to the east from holes 26 and 27 of the 2010 drilling (see Figure 1). In addition, the collar locations will be moved approximately 40 metres to the north in relation to the 2010 drilling. New mineralized zones were intersected near surface in holes 24, 25, 26 and 27 of the 2010 drilling and the current program will test the east extension of these zones. In addition, drilling will test for additional mineralization to the north of the known zones.
Vadim Galkin, PhD, P.Geo. who is a qualified person under the definition of National Instrument 43-101 has reviewed the technical information contained in this press release. Core samples from the Rowan program will be cut in half using a diamond cutting saw and will be sent to ActLabs, an accredited mineral analysis laboratory in Red Lake, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods. Certified gold reference standards, blanks and field duplicates will be routinely inserted into the sample stream as part of Hy Lake’s quality control/quality assurance program.
Michael Schweinberger, M.Sc. will continue to manage field operations for this phase of the 2011exploration program. As project geologist, Michael will supervise drilling operations, log and sample drill core and manage core cutting.
Drilling operations at the Rowan Lake Mine property will be carried out by Chibougamau Diamond Drilling Ltd. of Chibougamau, Quebec. Initial results are expected to be received by the Company by the middle of July 2011.
About Hy Lake Gold Inc.
Hy Lake Gold is a well financed Toronto-based mineral exploration company focused on the gold exploration and development business in the prolific Red Lake Mining District of Northwestern Ontario, Canada. Hy Lake Gold has assembled several significant property packages totalling approximately 3,300 hectares in west Red Lake. The properties cover a 12 kilometre distance along the west Red Lake Trend, containing 3 former producing gold mines, and the Company continues to explore these properties both along strike and at depth. To find out more about Hy Lake Gold Inc. (CNSX: HYL; FRANKFURT: HYK) visit our website at www.hylake.com.
Shares Issued: 41,649,148
On behalf of the board:
Mr. Robert B. Seitz, President& C.E.O.
office@hylake.com