TSXV: GGE
VANCOUVER, Jan. 24, 2013 /CNW/ - Great Northern Gold Exploration
Corporation, ("Great Northern Gold" or the "Company") announced that it
has commenced drilling on its Wekusko Gold Property in Northern
Manitoba. Bodnar Drilling Ltd. of Ste. Rose du Lac, Manitoba has been
contracted to complete the drill program.
During the month of November 2012, 468 infill Mobile Metal Ion ("MMI")
geochemistry samples were taken on anomalies and extensions along
strike of the earlier detected anomalous trends on the McCafferty Grid.
To date, 1,613 MMI geochemical samples have been completed on the
McCafferty Grid, with a total of 2,279 MMI geochemical samples
completed on three grids on the Wekusko Gold Property. The 468 new
samples were analyzed by SGS Laboratories in Toronto and the results
were plotted and reviewed in final preparation for the January 2013
drill program.
The drilling program of approximately 2,000 meters is expected to
comprise 20 to 30 drill holes. The drill program will test numerous
gold targets on the one kilometer by three kilometer (1km x 3km)
McCafferty Grid. The McCafferty gold-bearing quartz vein is exposed on
the grid in a series of trenches and two shafts over a strike length of
350 meters. To date, the MMI data was successful in locating the
McCafferty vein, identifying a number of new gold anomalies trending
parallel or sub-parallel to the McCafferty vein, and a number of
additional multi-line, multi-element anomalies. The November 2012 MMI
sampling extended the anomalous trend 300 meters southwest of previous
sampling. All drill targets are selected based on multidisciplinary
techniques including geological mapping, MMI geochemistry, and data
from previous work including ground and airborne Electro Magnetic
("EM") geophysics.
The previously planned two test drill holes on the Elizabeth-Dauphin
grid, have been postponed to allow testing of two additional targets on
the McCafferty grid this winter. The two postponed drill holes were to
test gold targets on the one kilometer by 400 meter (1km x 0.4km)
Elizabeth - Dauphin Grid, located approximately 2 kilometers northeast
of the past producing Rex-Laguna gold mine.
The Company's drill program is targeting the potential for larger
tonnage epigenetic mesothermal gold deposits located in shear zones
below the glacial till cover. The winter program allows for lower
drilling costs as equipment and supplies can be transported across the
frozen Wekusko Lake to the Wekusko Gold Property, instead of being
mobilized by helicopter to the site.
"Our team, led by Dan Ziehlke, is working hard to add value to the
Wekusko Gold Property, using their extensive knowledge gained over more
than 25 years in the region to target drill holes on high priority gold
anomalies," said Mr. Kim Oishi, CEO of Great Northern Gold. "This
program will help us determine the potential for economic gold
mineralization on the McCafferty Grid. The area we are drill testing
with this initial program is only 3 km2 of the approximately 89 km2 Wekusko Gold Property, but it hosts strong MMI geochemical anomalies,
gold-bearing quartz veins and shear zones under the glacial till with
the potential for gold mineralization."
As set out in the Company's NI 43-101 Technical Report dated May 12,
2012 and filed on SEDAR, the Wekusko Gold Property hosts historic and
recent discoveries of moderate to high grade gold mineralization in
near surface quartz veins. Prospecting and geochemical work north of
the high grade Ferro and Rex Laguna trending belts indicate potential
for Snow Lake/Britannia type of larger tonnage, lower grade gold
deposits. To date, the New Britannia deposit at Snow Lake has produced
1,428,290 ounces of gold recovered from 12,124,449 tons milled for a
recovery grade of 0.117 oz/ton.
Daniel Ziehlke, VP of Exploration for Great Northern Gold, is the
Company's Qualified Person under the definition of NI 43-101, and has
reviewed this press release for accuracy and compliance with NI 43-101.
Information relating to adjacent properties has not been verified by
Great Northern Gold and is not necessarily indicative of the
mineralization on the Wekusko Gold Property. The Wekusko Gold Property
is an early-stage mineral property and does not contain a resource
defined by NI 43-101.
About Mobile Metal Ion (MMI™) Geochemistry
MMI geochemistry technology is owned by SGS (www.sgs.com/geochem), a leading inspection, verification, testing and certification
company. According to SGS, Mobile Metal Ion (MMI™) geochemistry is a
proven advanced geochemical exploration technique known to find mineral
deposits. It is especially well suited for deeply buried mineral
deposits. MMI measures metal ions that travel upward from
mineralization to unconsolidated surface materials such soil, till,
sand and so on. These mobile metal ions are released from mineralized
material and travel upward toward the surface. Using careful soil
sampling strategies, sophisticated chemical ligands and ultra sensitive
instrumentation, SGS is able to measure these ions. After
interpretation, MMI data can indicate anomalous areas. Please see the
SGS website www.sgs.com/geochem for more details and case studies.
ABOUT GREAT NORTHERN GOLD EXPLORATION CORPORATION
Great Northern Gold is a gold exploration company operating in Northern
Canada and has an option to earn a 100% undivided interest in the
property known as the Wekusko Property located 23 kilometers southeast
of Snow Lake, Manitoba and comprising 55 mineral claims totaling
approximately 8,880 hectares. Great Northern Gold has also entered into
a Property Option Agreement to earn a 100% undivided interest in the
property known as the Ferro Mine Property located 23 kilometers
southeast of Snow Lake, Manitoba and east of Wekusko Lake, Manitoba.
Capitalization:
Number of common shares outstanding: 20,220,867
Number of fully diluted shares outstanding: 24,507,533
STATEMENTS IN THIS PRESS RELEASE REGARDING THE COMPANY'S BUSINESS WHICH
ARE NOT HISTORICAL FACTS ARE "FORWARD-LOOKING STATEMENTS" THAT INVOLVE
RISKS AND UNCERTAINTIES, SUCH AS ESTIMATES AND STATEMENTS THAT DESCRIBE
THE COMPANY'S FUTURE PLANS, OBJECTIVES OR GOALS, INCLUDING WORDS TO THE
EFFECT THAT THE COMPANY OR MANAGEMENT EXPECTS A STATED CONDITION OR
RESULT TO OCCUR. SINCE FORWARD-LOOKING STATEMENTS ADDRESS FUTURE EVENTS
AND CONDITIONS, BY THEIR VERY NATURE, THEY INVOLVE INHERENT RISKS AND
UNCERTAINTIES. ACTUAL RESULTS IN EACH CASE COULD DIFFER MATERIALLY FROM
THOSE CURRENTLY ANTICIPATED IN SUCH STATEMENTS. THE COMPANY DOES NOT
ASSUME ANY OBLIGATION TO UPDATE OR REVISE EVENTS OR CIRCUMSTANCES
UNLESS REQUIRED BY APPLICABLE SECURITIES LAWS.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Great Northern Gold Exploration Corporation
