news is outGold Summit Intersects 36.5 g/t '1.06 opt' Gold Over 2.26 m In Third Core Hole at Monte Cristo
12/7/04
RENO, NEVADA, Dec 7, 2004 (CCNMatthews via COMTEX) --
Gold Summit Corporation (TSX VENTURE:GSM) announces preliminary assay results from the third core hole completed in the current drilling programme on the west side of the Maclean Pit at the Monte Cristo Prospect in Nevada.
HOLE FROM WIDTH
Au ------ ------ ------ ---- metres metres g/t MCC 16 241.5 2.26 36.5 Incl. 1.4 54.9
The high grade gold zone between 241.5 and 243.8 metres in Hole MCC 16 occurs in a silicified volcanic breccia with cross-cutting quartz veinlets and fine grained, wispy pyrite. Gravimetric results now available for the previously announced high grade intersection in Hole MCC 12, located 130 metres south along the Monte Cristo mineralized vein system, returned a value of 180 g/t gold compared to the original Fire/AA assay value of 116 g/t gold over 1.2 metres.
Results from three reverse circulation holes (MC 13, 14 and 17) drilled at shallower depths are still pending. A programme of three additional core holes around the high grade intersection in MCC 12 is currently underway.
Assay results tabulated above are by Fire/AA or Fire/Gravimetric methods from American Assay laboratory in Sparks, Nevada from half HQ core samples. Core recovery was close to 100%, using triple tube drilling equipment. Douglas R. Bowden, VP Exploration, a registered Professional Geologist in the State of Utah, is designated as the Qualified Person supervising Gold Summit's technical work.
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Gold Summit Corporation Ms. Hillary Vonich (775) 284-7200 www.goldsummitcorp.com NEWS RELEASE TRANSMITTED BY CCNMatthews