Rowan-NT Zone Continues To Return High-Grade ResulRowan-NT Zone Continues to Return High-Grade Results
Toronto, Ontario CANADA, November 03, 2011 /FSC/ - Hy Lake Gold Inc. (HYL - CNSX, HYK - FWB),is pleased to announce drill results from the first of two targets recently drilled its 60%-owned Rowan Lake Mine property, held in a Joint Venture with Red Lake Gold Mines, a General Partnership of Goldcorp Inc. and Goldcorp Canada Ltd. Results from the second target in the Rowan Main Zones are being analysed by the Company and will be released when available.
The 17-hole, 3,880 metre drill program focused on further extending the Rowan-NT Zone high-grade mineralized structural corridor along strike, both to the south-west and to the north-east, from the 2010 drilling. The confirmed strike length is now 900 metres and is open to the north-east for at least an additional 1,100 metres. All 17 holes of this drill program intersected wide zones of Iron Carbonate alteration and Silica/Sulphide replacement within altered and brecciated volcanic and sedimentary rocks. The depth potential of this zone remains untested and the potential for additional high-grade gold discoveries within this system is high.
The Rowan-NT zone represents a 2010 discovery on the Rowan Lake Mine property on trend with the Confederation/Redstar Newman Todd Structure (NTS), which continues to return high grade assays results (see Confederation news release of Oct. 19, 2011 and Nov. 2, 2011).
Highlights from the Hy Lake Gold drilling include gold intersections of:
* 1 metre of 28.7 g/t gold, 13.7 g/t gold, 12.8 g/t gold, 12.3 g/t gold, 10.2 g/t gold and 10.1 g/t gold in several holes.
* Composite values of 7.67 g/t gold over 2 metres, 5.96 g/t gold over 2 metres, 4.36 g/t gold over 3 metres and 2.17 g/t gold over 11 metres.
* Results include 27 intersections with gold concentration of 2 g/t gold or greater, 33 intersections with 1-2 g/t gold, 78 intersections with 0.5-1 g/t gold and 160 intersections with 0.25-0.5 g/t gold.
* Rowan-NT Zone breccia corridor mineralized the full length of the current 900 meter strike length and open to the north-east (see Map 1 below).
* A table of significant results (27 intersections of 2.0 g/t gold or greater) is shown below.
Table of significant results
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Hole From (m) To (m) Gold (g/t) Width (m)
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HY-11-41 78 79 3.18 1.00
HY-11-41 and 80 81 12.80 1.00
HY-11-41 and 97 98 3.68 1.00
HY-11-41 and 155 156 6.17 1.00
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HY-11-42 composite 39 50 2.17 11.00
HY-11-42 including 40 41 7.51 1.00
HY-11-42 including 42 43 4.78 1.00
HY-11-42 including 48 49 4.33 1.00
HY-11-42 and 145 146 28.70 1.00
HY-11-42 and 151 152 2.47 1.00
HY-11-42 and 259 260 4.58 1.00
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HY-11-43 86 87 2.21 1.00
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HY-11-44 231 232 2.29 1.00
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HY-11-47 48 49 6.38 1.00
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HY-11-48 47 48 6.36 1.00
HY-11-48 and 89 90 12.30 1.00
HY-11-48 and 141 142 5.20 1.00
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HY-11-49 composite 43 45 5.96 2.00
HY-11-49 including 43 44 10.20 1.00
HY-11-49 composite 98 100 7.67 2.00
HY-11-49 including 99 100 13.70 1.00
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HY-11-50 85 86 3.29 1.00
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HY-11-51 31 32 2.00 1.00
HY-11-51 and 100 101 4.07 1.00
HY-11-51 composite 226 229 4.36 3.00
HY-11-51 including 226 227 2.64 1.00
HY-11-51 including 228 229 10.10 1.00
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HY-11-52 49 50 3.88 1.00
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HY-11-53 132 133 2.88 1.00
HY-11-53 and 221 222 3.60 1.00
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HY-11-55 95 96 4.82 1.00
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* None of the intersection widths should be construed as necessarily representing a true width of the sampled material. Weighted average gold intervals apply a 0.25 g/t lower cut-off
Vadim Galkine, VP Exploration states: "We are once again extremely pleased with the results from the most recent drilling at the Rowan-NT Zone. Quartz breccia, quartz-carbonate and carbonate breccias were intersected in all holes with true width varying within a 25-110 metre range. Obviously, we are closely following the news from Confederation Minerals which has been drilling the south-west extension of the Rowan-NT structure. Hy Lake Gold has only just begun to explore this structure. Only 21 relatively shallow holes have been drilled by Hy Lake Gold in 2010-2011 and returned very exciting and encouraging results. Confederation's geological model considers the Newman Todd Structure as a host to widespread high-grade gold mineralization over a strike length of 1.6 kilometres. Hy Lake Gold's recent drilling has extended the actual strike length of the zone by an additional 0.9 kilometres and the Rowan-NT Zone remains open to the north-east on the Rowan Joint Venture property for an indicated 1.1 kilometres. It is also very intriguing that, although the breccias usually return higher gold assays, the gold mineralization corridor turns out to be much wider than the breccia zone itself. One can speculate that the breccia zone delineated this year may represent just one sliver of a broader shear corridor with gold mineralization. Favourable to this theory are the existence of the historic Creek Zone and Porphyry Hill Zone which are to the east of the north-east, on-strike extension of the Rowan-NT Zone. Additional drilling to the north-west and south-east of the Rowan-NT Zone is needed to test this hypothesis. Hy Lake Gold will continue drilling the structure to the north-east to test the continuity of the breccia zone both along strike and downdip."
Hy Lake Gold President and CEO Robert Seitz added: "Our exploration model for the Rowan-NT Zone is confirmed as we continue to drill this structure to the north-east. We are very pleased with these latest results. Particularly encouraging are our deepest high grade intercept to date in Hole HY-11-51 and our highest grade intercept to date in Hole HY-11-42. Data from this delineation phase of drilling will assist us as we plan to test the depth continuity of this system. Having recently defined an east-west corridor of breccia mineralization north of the Rowan Main Zones (see news release of Oct. 19, 2011), we believe that the Rowan-NT Zone may merge with the Porphyry Hill/Creek Zone areas and the Rowan Main Zones. We are developing several high priority targets within these structurally-controlled convergence areas."
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 were 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 have been routinely inserted into the sample stream as part of Hy Lake Gold's quality control/quality assurance program.
Michael Schweinberger, M.Sc. managed field operations for this phase of the 2011 exploration program. As project geologist, Michael supervised drilling operations, logged and sampled drill core and managed the core cutting. Drilling operations at the Rowan Lake Mine property were carried out by Chibougamau Diamond Drilling Ltd. of Chibougamau, Quebec.
About Hy Lake Gold Inc.
Hy Lake Gold is a Toront-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 3,500 hectares in west Red Lake. The properties cover a 12 kilometre distance along the West Red Lake Mine Trend, containing 3 former producing gold mines, and the Company continues to explore these historical properties both along strike and at depth. To find out more about Hy Lake Gold Inc. (CNSX: HYL) 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