Golden Share Confirms strength of Berens Mineralized Systems and Provides an Update of Future Development Plansadmin
Toronto, October 31, 2013 – Golden Share Mining Corporation ("Golden Share" or the "Company" – TSXV:GSH) is pleased to provide the results of its recent 2013 drilling program on the Berens River project located in Ontario, Canada, aimed at validating the existing mineralization.
The diamond drilling consisted in three holes totaling 786 m targeting the Vein N?3 mineralized system. Several mineralized zones were intersected in all three holes and higher grade gold zones varying between 5.35 and 7.82 g/t Au are included in broader corridors of mineralization as reported in the drilling highlights below.
-Hole GSH-13-01 collared in mineralization and opened up the Vein N?3 mineralized system towards the west with at least three separate zones corresponding to Veins N?3, 10 and 19 with a highest grade intercept of 7.82 g/t Au over 1.20 m (101.60 to 102.80 m).
-Hole GSH-13-02 was collared near the central part of the Vein N?3 system and further defines the presence of several mineralized zones, including a broader intercept of 1.20 g/t Au over 10.90 m (100.10 to 111.00 m) including 5.35 g/t Au over 1.50 m (118.50 to 120.00 m).
-Hole GSH-13-03 targeted the Vein N?3 system at depth and also returned several zones with a notable interval of 0.77 g/t Au over 23.15 m (304.30 to 327.45 m) including 2.64 g/t Au over 1.00 m and 2.17 g/t Au over 1.25 m.
Silver closely follows the gold mineralization and the best silver intercepts are :
-GSH-13-01 : 102.80 g/t Ag over 2.10 m (40.80 to 42.90 m)
-GSH-13-01 : 184.90 g/t Ag over 1.20 m (101.60 to 102.80 m)
-GSH-13-02 : 420.90 g/t Ag over 0.90 m (102.30 to 103.20 m)
-GSH-13-02 : 263.00 g/t Ag over 1.25 m (321.90 to 323.15 m)
Zinc is also clearly associated with the gold-silver mineralization with a value of 5.23% Zn over 1.25 m from 321.90 m to 323.15 m in hole GSH-13-03. The full results are appended to the current release in Table.1. A surface plan is provided at Figure.1 and the three technical drill sections are also included as Figures 2 to 4.
Representatives of Sinotech Minerals Exploration Co. Ltd. and Beijing Donia Resources Co. Ltd. ("Sinotech/Donia"), Golden Share’s largest shareholder, visited the Berens River project in late August and recognize the signature of a very strong precious metal system that needs to be developed systematically (see attached Figure.5). The past producing Berens River Mine was operated by a subsidiary of Newmont Mining from 1939 to 1948 and produced 158,000 ounces of gold and 5.8 million ounces of silver as well as 1.7 million pounds of zinc and 6.1 million pounds of lead and the area has been idle since then.
Historical Veins 1 and 3 were observed on surface during the Sinotech/Donia field trip and are recognized as singular expressions of a likely much larger system which requires a regional scale approach. Sinotech/Donia reaffirmed their support for the development of the project which is also motivated by the strategic land position and the local contacts Golden Share was able to develop in the Favourable Lake gold belt, the next frontier north of Red Lake (see attached Figure.6).
An in depth compilation of all property historical data is currently on-going. Golden Share plans to also undertake the following further steps over the next 12 months steps to develop the untapped potential of the area and execute :
1.A geophysical airborne survey,
2.A geological mapping campaign,
3.A geochemical sampling program.
The geophysical airborne survey is planned to be executed rapidly and will provide invaluable modern systematic coverage to take the whole area a step further.
Further updates on the Berens exploration program will be provided in due course.
About the drilling program
The drilling is performed at high angle to the mineralized structures and the above intersections represent near true widths. Individual samples weighting 3kg on average have been taken from sawn half core at +/- 1 meter intervals in the mineralized zones with consideration of the geological contacts. A rigorous QA/QC program involves the random inclusion of mineralized standards, duplicates and blanks at the sample collection and preparation stage. The samples are shipped to the ALS laboratory in Thunder Bay, Ontario, for analysis by fire assay on 50g pulp samples. The sample preparation procedure involves the crushing of the entire 3kg sample followed by quartering to obtain a representative 250g sample which is entirely pulverized and out of which a 50g sample is isolated for analysis by fire assay. Samples suspected to contain visible gold or higher grade mineralization are assayed using the metallic sieve technique on a 1000g sample.
About Golden Share
Golden Share Mining Corporation is a Canadian-based mining exploration company developing a promising portfolio of properties in the mineral belts of Eastern Canada with a development strategy focused on a well-balanced property portfolio in a politically stable environment with a history of rich mineral endowment.
On July 25, 2013 shareholders of the Company approved the merger with Silvore Fox, a Canadian junior explorer listed on the TSX Venture Exchange (see press release dated July 25, 2013). Following this transaction Beijing Donia Resources Co. Ltd., a Chinese state owned company, has become Golden Share’s largest shareholder with approximately 21.9% of its issued and outstanding shares. Sinotech Minerals Exploration Co. Ltd., a leading Chinese mineral exploration and development company, is a 50.03% shareholder of Beijing Donia Resources Co. Ltd (For further details please see the recent Sinotech corporate presentation on : http://www.goldenshare.ca).
This new Chinese partner recognizes the value of Golden Share’s well balanced portfolio of properties located in Quebec and Ontario and sees the merged entity as an ideal platform to further develop its activities in exploration and development in North America, and notably in Eastern Canada, a politically stable environment with a history of mineral endowment.
Golden Share’s exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a << Qualified Person >> as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.
FOR MORE INFORMATION, CONSULT: http://www.goldenshare.ca
OR OUR FACEBOOK PAGE AT:
Golden Share Mining Corporation
Philippe Giaro, President & CEO
Tel: 1-905-968-1153 or Tel: 32-473-52-30-29
Neither 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.
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Table. 1 – 2013 Berens drillling results highlights
Figure. 1 – 2013 DDH Surface plan
Figure. 2 – DDH GSH-13-01
Figure. 3 – DDH GSH-13-02
Figure. 4 – DDH GSH-13-03
Figure. 5 – Berens geological model
Figure. 6 – Favourable Lake and Red Lake gold belts
Posted: October 31st, 2013 under ACCESSWIRE.