RE: main zone returns 69g over 6m and 362g over 1mHY LAKE GOLD : ROWAN MAIN ZONES YIELDNEW HIGH-GRADE RESULTS
69.3 g/t over 6m including 362 g/t gold over1m
HY LAKE GOLD INC. (CNSX: HYL) is pleased to announce drill resultsfrom the second of two targets recently drilled its 60%-owned Rowan Lake Mineproperty, held in a Joint Venture with Red Lake Gold Mines, a GeneralPartnership of Goldcorp Inc. and Goldcorp Canada Ltd. Results from the firsttarget at the high-grade Rowan-NT Zonewere recently released (see news releaseof Nov. 3, 2011).
Highlights from the recent 4-holedrilling programinclude:
- Hole HY-11-58 intersects a 6 meter wide zone of 69.34 g/t goldwith three high grade intercepts:362 g/t gold, 34.50 g/t gold and 16.90 g/t gold,each over a 1 metre width;
- Hole HY-11-59 intersects a 3 meter wide zone of 24.88 g/t goldwith 73.6 g/t over 1metre;
- Hole HY-11-61 intersects a 2 meter wide zone of 4.77 g/t gold with 7.76 g/t over 1 metre.
- A table of significant results from this drilling is shown below.
The 4-hole, 1,694 metredrill program at Rowan Main Zonesfocused onfurther delineation of a series of several sub-parallel, high-grade gold zonesto the east-north-east of the Rowan Lake Mine shaft.Thedrilling programconsisted of two pairs of holes, 90 m to the east and 50 m to the north of the2010 drill locations. The main geological resultof this drilling was thediscovery of a second breccia corridor, intersected by all 4 holes, withstriking lithological and structural similarities to the Rowan-NT breccias (seeFigure 1). This cross-cutting zone of quartz-carbonate breccias, often withstrong sulphide (mainly pyrite and pyrrhotite) mineralization,is hosted byfelsic/mafic/ultramafic volcanics and quartz porphyry. The breccia corridor isquite wide, ranging from 90 to 250 metres along the hole trace, and may occursplit into several breccia subzones separated by considerably less deformedunits of 10 to 30 metres wide. This compares favourably with recent results atConfederation Minerals’ Newman Todd property to the south of Hy Lake Gold’sRowan Lake Mine property (see Confederation news release of November 2,2011).
During the 2010 drilling, 4 holes drilled within the Rowan MainZones structural corridorintersected high grade gold zones (see news release ofOctober 21, 2010). In addition to intersecting high grade mineralization withinvolcanic sequences, on trend with existing veins,these holes also intersectedhigh grade mineralization within the sedimentary sequence. ThisCalc-SilicateZone (CS Zone), which bears some characteristics of the Rowan-NT Zone breccias,is believed to be a new parallel zone to the north of the known Rowan Main Zonesvein systems.
Although gold mineralization can be found at manyintersections within the breccias, the zones with the highest grades often lineup with the known Rowan Main Zones high grade veins to the west. The highestgrade intercept from this project (362 g/t gold)is on strike with theCalc-Silicate Zone discovered in 2010(see Figure 2).
Table ofsignificant results
Vadim Galkin, VP Exploration comments: “The 362 g/t gold (more than 11 oz/tgold) intersection is quite impressive by itself yet the geological implicationsof the overall drilling results are no less significant. It seems there twoopposing models of gold mineralization in the Rowan Main Zones area - narrowhigh-grade subvertical veins on the one hand and wide high-grade breccia zoneswith more disperse (disseminated) mineralization on the other - making a veryinteresting and promising arrangement. The Rowan Main Zones high-grade veins areunusually long (350-850 m) and are often associated with the breccias. Wideshear zones may serve as conduits for massive volumes of rich, saturated,gold-bearing fluids resulting in disperse mineralization of the breccias on-masswith relatively narrow, high-grade gold concentrations along the main slidingplanes where fluid permeability, due to shearing and dilation,is much higher.The details of the gold mineralization process and its interplay with thecomplex deformational history are yet to be determined but from an explorationstandpoint the drilling results, and associated depth potential, are veryexciting.”
Hy Lake Gold President and CEO Robert Seitz added: “Thegeological model that is emerging for Hy Lake Gold’s Rowan-NT Zone may likely beextended to the Rowan Main Zones area - and vice-versa - the Rowan Main Zoneshigh-grade vein model maybe logicallyincorporated into Rowan-NT Zone brecciamodel. Among the significant implications of such a combined model is thepotential for an additional 2
kilometres of high-grade strike length alongthis east-west limb of the Rowan Main Zones mineralized corridor. The westernon-strike extension of the structure, onto the Mount Jamie Mine property,implies an open exploration horizon of a further 3 kilometres. The potential fora 7 kilometerstrike length of high-grade mineralized structure, aligned along amajor regional deformation corridor, is a very exciting prospect. This is allthe more interesting when you extrapolate the 1.7 million ounce resourceestimate calculated by Fraser Mackenzie Limited (see Equity Research Report ofApril 28, 2011) in their report on neighbouring Confederation Minerals’ 2kilometer potential strike length of the Newman Todd Structure to the south-westof the Rowan-NT Zone. We believe there now exists significant potential for amulti-million ounce gold resource on the combined Hy Lake Goldproperties.”
Vadim Galkin, PhD, P.Geo. who is a qualified person underthe definition of National Instrument43-101 has reviewed the technicalinformation contained in this press release. Core samples fromthe Rowan programwere cut in half using a diamond cutting saw and will be sent to ActLabs,anaccredited mineral analysis laboratory in Red Lake, Ontario, for preparation andanalysisutilizing both fire assay and screen metallic methods. Certified goldreference standards, blanksand field duplicates have been routinely insertedinto the sample stream as part of Hy Lake Gold’s quality control/qualityassurance program.
Michael Schweinberger, M.Sc. managed field operationsfor this phase of the 2011exploration program. As project geologist, Michaelsupervised drilling operations, logged and sampled drill core and managedthecore cutting. Drilling operations at the Rowan Lake Mine property were carriedout by Chibougamau Diamond Drilling Ltd. of Chibougamau, Quebec.
AboutHy Lake Gold Inc.
Hy Lake Gold is a Toronto-based mineral explorationcompany focused on the gold exploration and development business in the prolificRed Lake Mining District of Northwestern Ontario, Canada. Hy Lake Gold hasassembled several significant property packages totalling approximately 3,500hectares in west Red Lake. The properties cover a 12 kilometre distance alongthe West Red Lake Mine Trend, containing 3 former producing gold mines, and theCompany continues to explore these historical properties both along strike andat depth. To find out more about Hy Lake Gold Inc. (CNSX: HYL) visit our websiteat www.hylake.com.
Shares Issued: 41,649,148
On behalf of the board:
Mr. Robert B. Seitz, President&C.E.O.
office@hylake.com