PRESS RELEASE
Ressources Appalaches acquires two gold properties in Nova Scotia
Rimouski, June 27, 2007 – Ressources Appalaches (APP-TSX-V) announces the
signing of two agreements with Meguma Resource Enterprises Inc. and Elk
Exploration Ltd. for the acquisition of 100% of their properties located in Nova Scotia. These
gold properties will in future be grouped under the name Ecum Secum.
The properties
are located on the east coast of Nova Scotia,
about 150 km from Halifax. They are
contiguous and comprise 56 claims with a total area of 10 km2. The
gold is disseminated, and occasionally
visible in quartz veins. A mine was operated on one of the properties in the
early 20th century. The Nova Scotia Mines Ministry notes that 1,300 troy ounces
of gold were extracted from this gold-bearing district between 1893 and 1935. The orebody on the Ecum Secum
property was at that time the district's main producer.
The average grade reported by the various companies during this period was 14
g/t Au. This figure represents historical data from various work reports
distributed by the Ministry: it cannot be verified, and is mentioned for
information purposes only.
The old plans
and reports indicate that a vein was mined from a drift about 100 metres in
length, to a depth of 70 metres. A number of shafts are still visible today.
The property was inactive until the early 1970s; intermittent geophysical
exploration, trenching, and drilling have since confirmed the presence of the
auriferous zone. The most recent sampling work was carried out by Meguma
Resource Enterprises Inc. in 2005, on a pile of mining waste. Among the 45
samples selected, three gave grades of 32 to 38 g/t Au.
Geologic Setting
The property,
which forms part of the Meguma Group, consists mainly of Cambrian to Devonian
sedimentary rocks (turbidites). The geologic formations are affected by major
sub-horizontal folding along east-west axes.� Several late local and regional
faults strike northwest, and are generally post-mineralization. Granitic
intrusions cut the sedimentary rocks. Several types of veins are observed, but
the gold deposits are mainly associated with stratiform veins and anticlines.
The gold is disseminated and sometimes visible in quartz veins, accompanied by disseminated sulphides such as
galena, sphalerite, arsenopyrite, and chalcopyrite. Alteration minerals such as
sericite and chlorite are also present in the veins and wall rocks.
The agreement
Ressources
Appalaches has obtained an option from Meguma Resource Enterprises Inc. and Elk
Exploration Ltd. to acquire 100% of their properties is return
for $175,000 in work and $118,000 in cash, to be distributed over a period
of three years, plus 50,000 ordinary shares of Ressources Appalaches. A royalty
(NS) of 2% upon production from the deposit will be paid on each property, but
with optional buy-backs for Ressources Appalaches in the respective amounts of
$1,400,000 and $650,000.�
Objective
Ressources
Appalaches's objective is to define extensions of the deposit that can be put
into production as quickly as possible. With this in mind, work will begin with
pitting and drilling over a broad horizontal area.
The contents of
this press release were prepared by geologist Alain Hup�, a qualified person as
defined in NI 43 101. The TSX Venture Stock Exchange disclaims any
responsibility for the veracity and accuracy
of this press release.
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information:
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Andr� Proulx������������������������������������������������������������������������������������������������� Christian
Guilbaud
President���������������������������������������������������������������������������������������������������������� Public
Relations
Telephone: 418-724-0901��������������������������������������������������������������������� Telephone:
514-813-7862
info@ressourcesappalaches.com