|
Northern Abitibi Drills High Grade Gold at Viking Including
218.79 g/t Over 0.5m & 50.05 g/t Over 3.7m
Breaking News for: November
17, 2008
Trading Symbol: NAI:TSX-V
Northern
Abitibi Mining Corp. (�Northern Abitibi�) is pleased to provide assay
results for drill holes 1 and 2 from its recently completed 10 hole drill program at the Viking gold property in
Newfoundland. Both holes have intersected high grade gold mineralization
along with larger intervals of lower grade mineralization.
Dr. Shane
Ebert, President of the Company commented �We are very pleased with
the exploration results from the Viking property. In one field season the high grade Thor Vein
has been discovered by trenching and validated by drilling. To
date the widths and grades we are seeing from the Thor Vein compare favorably to operating underground gold mines in
Canada, making it an exceptional exploration project. This
success highlights the excellent exploration potential within the 3
to 4 kilometer long, mostly till-covered,
gold-in-soil anomaly on the Viking property.�
Results and
Technical Discussion
The Thor
Vein consists of a zone 1.5 to 8.0 metres in width, hosting numerous
individual quartz-sulfide veins ranging
from 0.3 to 1.8 metres wide. The vein dips moderately to the
south and the 2008 drill program has tested it from near surface to
approximately 100 metres down dip and it remains open in all
directions. Visible gold has been identified in the majority of
holes that intersected the vein. The location of holes 1, 2, 3
and 5 are shown on the attached cross section. Hole 4 was
drilled approximately 10 metres north of the cross section. Assay
results from holes 08VK-01 and 02 are summarized in the table below.
Hole 08VK-01
intersected a 5.75 metre interval within the Thor Vein from 3.0 to
8.75 metres depth, grading 33.74 grams per tonne (g/t) gold (0.98
ounces per ton), including a 3.7 metre interval grading 50.05 g/t
gold (1.46 ounces per ton) and a 0.5 metre interval grading 218.79
g/t gold (6.38 ounces per ton). Hole 08VK-02 intersected a 3.8
metre interval within the Thor Vein from 6 to 9.8 metres depth,
grading 16.12 g/t gold (0.47 ounces per ton), including a 0.4 metre
interval grading 35.84 g/t gold (1.05 ounces per ton), and 0.5 metres
grading 41.66 g/t gold (1.22 ounces per ton).
Holes
08VK-01 and 2 both intersected a second smaller high grade �Footwall
Vein� running roughly sub parallel to the Thor Vein but located about
30 metres below it. This is a narrow quartz sulfide
vein containing visible gold and has returned grades of 4.68 g/t gold
(0.14 ounces per ton) over 1.0 metre in hole 08VK-01 and 37.62 g/t
gold (1.10 ounces per ton) over 1.0 metre in hole 08VK-02. To
date the Footwall Vein has only been tested by holes 08VK-01 and
2. Sheeted and locally stockwork
quartz veinlets occur between and
surrounding the two high grade veins, potentially making a low grade
bulk minable target. In hole 08VK-01 the zone of sheeted quartz
veining returned 0.73 g/t gold (0.02 ounces per ton) over 33.3 metres
from 6.7 to 40 metres depth. In hole 08VK-02 the zone of
sheeted quartz veining returned 2.88 g/t gold (0.08 ounces per ton)
over 4.2 metres in the hanging wall of the Thor Vein and 0.93 g/t
gold (0.03 ounces per ton) over 5.2 metres in the footwall. The
lower part of the hole contains variable gold grades ranging from
anomalous to 7.02 g/t (0.20 ounces per ton), and the last interval
sampled returned 2.05 g/t gold (0.06 ounces per ton) over 1.3 metres.
Summary of
significant drill intercepts from holes 08VK-01 and 08VK-02 � Viking
Project
|
Drill Hole
|
From (m)
|
To (m)
|
Width (m)*
|
Au
g/t
|
Au OPT**
|
Ag
g/t
|
Description
|
|
08VK-01
|
3.0
|
8.75
|
5.75
|
33.74
|
0.98
|
8.5
|
Altered granite, gneiss, large quartz
veins
|
|
including
|
3.0
|
6.7
|
3.7
|
50.05
|
1.46
|
12.6
|
Altered granite, gneiss, large quartz
veins
|
|
including
|
3.6
|
4.1
|
0.5
|
218.79
|
6.38
|
55.1
|
Quartz-sulfide vein
|
|
and
|
6.7
|
40.0
|
33.3
|
0.73
|
0.02
|
0.3
|
Altered granite and gneiss, quartz veinlets
|
|
and
|
37.5
|
38.5
|
1.0
|
4.68
|
0.14
|
1.0
|
Altered granite with 15 cm quartz vein
|
|
|
|
|
|
|
|
|
|
|
08VK-02
|
1.8
|
6
|
4.2
|
2.88
|
0.08
|
0.8
|
Altered granite with quartz veinlets
|
|
and
|
6.0
|
9.8
|
3.8
|
16.12
|
0.47
|
5.5
|
Quartz veins plus altered
granite
|
|
including
|
7.0
|
7.4
|
0.4
|
35.84
|
1.05
|
13.0
|
Quartz-sulfide vein
|
|
including
|
9.3
|
9.8
|
0.5
|
41.66
|
1.22
|
15.4
|
Quartz-sulfide vein
|
|
and
|
13.6
|
18.8
|
5.2
|
0.93
|
0.03
|
0.4
|
Altered granite with quartz veinlets
|
|
and
|
33.4
|
34.0
|
0.6
|
7.02
|
0.20
|
2.6
|
Altered granite with quartz veinlets
|
|
and
|
42.2
|
43.2
|
1.0
|
37.62
|
1.10
|
4.1
|
Altered gneiss with 6 cm quartz vein
|
|
and
|
50.0
|
51.3
|
1.3
|
2.05
|
0.06
|
0.2
|
Altered gneiss with quartz veinlets
|
|
|
|
|
|
|
|
|
|
*The true widths of the
mineralized intercepts are estimated to be 92% of the drill intercept
for hole 08VK-01 and 88% of the drill
intercept for hole 08VK-02. **OPT = troy ounces per short
ton.
The company
is extremely pleased with the results of the Viking drill program to
date. Drilling has demonstrated that the Thor Vein is high grade, has good widths, and is
continuous over the area drilled. The zone remains open in all
directions and has excellent potential to develop into a significant
and high quality gold resource.
Assay
results for holes 3 to 10 should be available for release within the
next few weeks.
Quality Control
The NQ size drill core has
been photographed and cut in half with a rock saw, with half of the
core sent to Eastern Analytical Ltd. in Springdale, Newfoundland for
analyses. One half of the core is retained on site for verification
and reference purposes. Gold is assayed by standard fire assay
methods with 30 additional elements analysed by Induced Coupled
Plasma (ICP). All gold samples with greater than 15 g/t
gold are re-assayed using a metallic sieve procedure to reduce the
nugget effect created by free gold particles in the samples.
Duplicate
samples, blanks, and certified standards are included with every
sample batch and then checked to ensure proper quality assurance and
quality control (QA/QC). Duplicate samples of select veins
have been sent to an outside laboratory for independent analyses as
part of a check assay procedure.
Northern
Abitibi
Northern
Abitibi�s technical team of experienced, professional geologists are
assembling a portfolio of gold, nickel and other base metal projects
from opportunities within Canada, Mexico and the United States.
Northern Abitibi can earn a majority interest in the Viking
project from Altius Resources Inc. by
making staged share and cash payments and funding exploration over a
period of 4 years. A description of the Viking project is
available on our website (www.naminco.ca).
The drill
program was supervised by Dr. Shane Ebert, P.Geo., and Dr.
Stephen Rowins, P.Geo.
Dr. Shane Ebert, P.Geo., is the Qualified Person responsible for the
preparation of this news release.
The TSX Venture Exchange has neither approved nor disapproved
of the contents of this press release.
Except for
the historical and present factual information contained herein, the
matters set forth in this news release, including words such as
�expects�, �projects�, �plans�, �anticipates� and similar
expressions, are forward-looking information that represents
management of Northern Abitibi�s internal projections, expectations
or beliefs concerning, among other things, future operating results
and various components thereof or the economic performance of
Northern Abitibi. The projections, estimates and beliefs contained in
such forward-looking statements necessarily involve known and unknown
risks and uncertainties, which may cause Northern Abitibi�s actual
performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking statements. These risks
and uncertainties include, among other things, those described in
Northern Abitibi�s filings with the Canadian securities authorities. Accordingly,
holders of Northern Abitibi shares and potential investors are
cautioned that events or circumstances could cause results to differ
materially from those predicted. Northern Abitibi disclaims any
responsibility to update these forward-looking statements.
|