Toronto,
Ontario
May
14, 2008
Press Release 09
� 2008
Nayarit Gold drills 48.35
metres of 2.74 g/t gold and 218 g/t silver,
or 7.10 g/t gold equiv
Includes 23.78 g/t gold and
2,040 g/t silver, or 64.58 g/t gold equiv
over 3 metres
Nayarit
Gold Inc. (TSXV: NYG) is pleased to announce additional drill hole results from
its Phase II drill program on the Animas discovery zone at the Orion
Silver-Gold District.
��
Drill hole OR-08-59 was drilled on
section with OR-07-36, along with OR-08-61. Holes OR-08-59 and OR-08-61 were
drilled above OR-07-36 to test for mineral continuity. Both holes displayed
continuity of mineralization towards the surface with OR-08-59 intersecting 48.35 metres of 2.74 g/t gold and 218 g/t
silver from a depth of 177.65 metres, including a high-grade intercept of 3.0 metres of 23.78 g/t gold and 2,040 g/t
silver.� Based on data from hole
OR-07-36, it appears drill holes OR-08-59 and OR-08-61 were terminated short,
however the potential for additional mineralization will be tested by further
deepening both holes.
Drill holes OR-08-56 and OR-08-57
were drilled on section with hole OR-07-31 from Phase I, the purpose of which
was to test the depth extension of the mineralization.� Hole OR-07-31 intersected 2.37 g/t gold and
331.20 g/t silver over 10.5 metres.� Hole
OR-08-57 returned 4.75 metres of 3.38 g/t gold and 50 g/t silver, including a
0.95 metre section assaying 8.69 g/t gold and 128 g/t silver.� Hole OR-08-56 returned 43.50 metres of 0.37
g/t gold and 40.5 g/t silver.� The
intercept in OR-08-57 is approximately 279
metres below the drill collar and makes it one of the
deepest holes to date that has intersected mineralization, which is still open
to depth. Mineralization in both these holes was recorded near the bottom of
these holes, and thus they will be deepened to test for additional zones.
Two recently completed holes,
OR-08-60 and OR-08-63, have illustrated great potential in the mineralizing
system at the Animas discovery zone. These deep holes intersected a series of
additional veins and breccia units beyond all the previously drilled holes at
the Animas discovery zone. Data from these holes will help determine the width
of the vein system, which will be implemented through future drilling. This
data will also help to determine the depth previously drilled holes will be
extended to test the system.
Table of results
Hole
|
From
(m)
|
To
(m)
|
Width (m)
|
Gold
(g/t)
|
Silver
(g/t)
|
Gold
Eq
|
Silver Eq
|
OR-08-59
|
177.56
|
226.0
|
48.35
|
2.74
|
218
|
7.10
|
355
|
including
|
192.0
|
226.0
|
34.0
|
3.80
|
306
|
9.92
|
496
|
including
|
211
|
214
|
3.0
|
23.78
|
2,040
|
64.58
|
3,229
|
|
|
|
|
|
|
|
|
OR-08-56
|
222.00
|
265.50
|
43.50
|
0.37
|
40.5
|
1.2
|
58.9
|
including
|
222.00
|
223.00
|
1.00
|
1.9
|
145
|
4.8
|
241.3
|
including
|
250.00
|
265.50
|
15.50
|
0.49
|
82.2
|
2.1
|
106.6
|
including
|
255.00
|
265.50
|
10.50
|
0.54
|
98.9
|
2.5
|
126.1
|
including
|
261.00
|
265.50
|
4.50
|
0.78
|
137.6
|
3.5
|
176.6
|
and
|
261
|
271.5
|
10.50
|
0.56
|
105.1
|
2.6
|
133.2
|
|
|
|
|
|
|
|
|
OR-08-57
|
299.6
|
307
|
7.40
|
0.64
|
56.5
|
1.7
|
88.4
|
including
|
299.6
|
300.4
|
0.8
|
2.35
|
306
|
8.5
|
423.5
|
and
|
334.25
|
340
|
5.75
|
2.91
|
43.2
|
3.8
|
188.7
|
including
|
335.25
|
340
|
4.75
|
3.38
|
49.8
|
4.4
|
218.9
|
including
|
335.25
|
336.2
|
0.95
|
8.69
|
128
|
11.3
|
562.5
|
|
|
|
|
|
|
|
|
OR-08-61
|
54.4
|
55.1
|
0.7
|
0.68
|
92.5
|
2.53
|
127
|
and
|
166.0
|
167.0
|
1.0
|
0.57
|
77.3
|
2.12
|
106
|
Hole OR-07-37 was also deepened with
the hole intersecting a series of small veins beyond its original depth. The
deepened section returned anomalous values through the intersected veins.� The Company will now test for potential mineralization
above the original intersection between 498.5 and 499.7 metres which returned
4.22 g/t gold and 6 g/t silver.
To date a total of 19 holes have
been drilled at the Animas discovery zone, with two holes still in progress.
Assays will be released when received.�
For additional information including drill hole maps and cross sections,
please click on the following link:
http://www.nayaritgold.com/projects_animas.html
Colin Sutherland, President &
CEO or Nayarit Gold Inc. comments �The drill results illustrate the continuity
and the high-grade nature of the mineralization in the Orion District.� The results also demonstrate that the system
is still open to depth and along strike.�
The Company recently completed several holes in excess of 500 and 600
metres, and the system at the Animas discovery zone appears to be wider than
initially believed and mineralized at considerable depths based on initial
review of the core.� With the recent
acquisition of the additional mining concessions, we will continue to
aggressively move forward with our Phase II exploration program and unlock the
potential of our 1,100 square kilometres and 19 silver-gold zones.�
The Company has also engaged San Diego based Torrey Hills Capital, Inc. led
by Mr. Cliff Mastricola, to perform investor relations services for the
Company, including developing awareness of Nayarit�s compelling exploration
success to the US
broker and analyst community.� The
contract is for six months, subject to regulatory approval, and renewable by
both parties and includes a $5,000 fee payable monthly, and the provision of
125,000 stock options at $0.50 vesting over eighteen months and expiring on
April 25, 2013.�
William J. Warren Jr., M.Sc., P.Geo is a Qualified Person as defined in
NI 43-101 and has reviewed this release.
QA/QC
Procedures: The Company has implemented a quality control program to ensure
best practices in sampling and analysis of the core samples. The core is first
logged then split in half during the sampling process with the remaining half
being retained for verification and reference purposes. Duplicates, standards
and blanks are inserted randomly into the sample stream. The samples are
delivered directly in security sealed bags to ALS-Chemex Laboratories
preparation facility in Guadalajara,
Jalisco (Certification ISO 9001). Sample pulps are shipped from there to
ALS-Chemex Laboratories in North
Vancouver, Canada
for analysis by ICP techniques. Metallic screen fire analyses for silver are
also regularly run as an additional QA/QC check.� Gold equivalent values are calculated using a
50:1 ratio.
Nayarit Gold Inc. is a Halifax based
junior resource company dedicated to gold exploration in the proven precious
metal districts of Mexico.� Management�s goal is to build a profitable
resource company and maximize shareholder value through successful exploration
programs and continued development.� �
For further information on Nayarit Gold please visit the company�s
website at www.nayaritgold.com or contact:
Mr.
Colin P. Sutherland
President
& CEO
(902)
252-3833
info@nayaritgold.com
CAUTIONARY STATEMENT
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.� No stock
exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.�
This News Release includes certain �forward-looking statements�.� All statements other than statements of
historical fact, included in this release, including, without limitation,
statements regarding potential mineralization and reserves, exploration
results, and future plans and objectives of Nayarit, are forward-looking
statements that involve various risks and uncertainties.� There can be no assurance that such
statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.� Important factors that could cause actual
results to differ materially from Nayarit�s expectations are exploration risks
detailed herein and from time to time in the filings made by Nayarit with
securities regulators.
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