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News Releases
| | September 26, 2006
JOINT VENTURE - First Phase Exploration Program Identifies Several Significant Anomolies on Jumping Josephine Property
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| | Kootenay Gold Inc. (KTN-TSX.V) joint venture partner Astral Mining Corporation (AST-TSX.V) has completed the first phase of soil sampling which identified several significant soil anomalies on the Jumping Josephine (JJ) property in the West Kootenay region of Southern British Columbia. The company has also completed the first phase of trenching over 200 metres of the silicified stockwork zone at the JJ Main area and is awaiting assay results.
First phase soil sampling was undertaken at three locations (Figure 1). Soil sampling comprised 1754 soil samples including 515 samples from JJ Main, 538 samples from JJ West and 701 samples from Granville Mountain (Bonanza Pass) area which includes the BZT zone previously identified as having numerous thin fracture-controlled quartz-pyrite-limonite veinlets containing visible gold. Three main anomalies; approximately 1000m x 150m, 1000m x 150m and 450m x 125m were identified over Bonanza Pass grid (Figure 2). Spot highs of 0.42g/t gold and 0.412g/t gold were returned from JJ Main and JJ West respectively but coherent anomalies were not identified.
Samples were collected at 25m intervals on 100m spaced lines in areas of known gold showings and 50m intervals on 200m spaced lines in areas away from known showings. Soil samples ranged from <0.001g/t gold (below detection) up to 1.48g/t gold. Values higher than 0.021g/t gold represent the 90th percentile and are considered anomalous.
The main Bonanza Pass grid covers an area 2000m long and 1200m wide. Three main anomalies were identified and follow a roughly north-south orientation similar to that measured in local mineralized quartz veins. All three anomalies encapsulate elevated grab sample results from earlier Kootenay Gold Inc (KTN TSX.V) grab sampling. Several subsidiary anomalies were also identified. Anomaly 1 (1000m x 150m) is elongate, running along the hillside contour and contains soil values up to 0.89g/t gold. Anomaly 2 (1000m x 150m) is a strong though anastamosing anomaly with values up to 0.561g/t gold and a 400m long multi-station core in excess of 0.046g/t. Anomaly 3 (450m x 125m) is open to the south and contains values up to 1.48g/t gold.
The Bonanza Pass area covers the contact of Mt Roberts volcanics and sediments with Coryell intrusives. Mineralised quartz veins have been observed to cut both Mt Roberts and the intrusive units. Historical gold and silver production was recorded between 1912 and 1964 from quartz veins in the area covered by Astral's claims.
Given the strength and continuity of these anomalies, Astral is planning to extend the Bonanza Pass grid and infill identified anomalies with the aim of outlining trench and drill targets. All samples were collected by independent contractor from B-horizon soils and submitted to ALS Chemex, North Vancouver for analysis. Exploration work reported in this release was completed under the supervision of Astral's Project Geologist Dale Brittliffe B.Sc.. Technical information contained in this release has been reviewed by Dr. David Terry, P.Geo., Director and Vice President of Exploration for Astral Mining Corporation, a Qualified Person as defined in National Instrument 43-101.
Kootenay has an option agreement with Astral whereby Kootenay has granted Astral the right to earn a 60% undivided interest in the 11,785 hectare Jumping Josephine (JJ) Property located in the Nelson Mining Division of southern British Columbia. The JJ Property consists of mineral claims held 100% by Kootenay and straddles Highway 3, north of the town of Rossland and west of Castlegar. To fulfill the terms of the option agreement Astral must spend $2.1 million on exploration and issue 400,000 shares over 5 years. Subsequent to exercise of the earn-in, Astral and Kootenay will form a 60/40 joint venture.
About Kootenay. Kootenay is a mineral exploration company focused on acquiring 100% interests in precious metals properties through property acquisitions and exploration discoveries. During the past four years Kootenay has successfully made four new mineral discoveries in the Rossland Republic Gold Trend of British Columbia known as the JJ North, JJ South, Connor Creek and the Sunrise Properties. In addition to its mineral discoveries, the company acquired the Santa Lucia and the Sabina Property in Northwest Mexico. Kootenay continues to fund prospecting ventures in the Rossland Republic Gold Trend of British Columbia and the Northwest Region of Mexico.
For further information, please contact:
James McDonald, CEO at 403- 238-6986
or
Ken Berry, President at 604-683-2214
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. |
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