Golden Share Reports Historical Drilling up to 11.69 G/T Au over 7.07 M At Hag Lake on Shebandowanadmin
Montreal, November 21, 2013 – Golden Share Mining Corporation ("Golden Share" or the "Company" – TSXV:GSH) is pleased to provide the results of its on-going work on the Shebandowan project located in Ontario, Canada.
As stated in press release dated April 2, 2013, the Company has identified the North Shebandowan Contact Zone ("NSCZ"), an extensive area of mineralization spanning 8 km and located between the Pistol Lake – Band Ore trend and the main Shebandowan stock, as a having a high potential for gold mineralization. While historical data compilation has been on-going, a short field campaign was executed in July 2013 to revisit the Shebandowan stock and the NSCZ, notably with a view to study the co-magmatic links between the felsic melts and the associated gold mineralization of the Shebandowan stock and its satellite intrusions. Historical data shows high grade gold mineralization is associated with two specific NSCZ targets.
Hag Lake – 11.69 g/t Au over 7.07 m in historical drilling
The Hag Lake occurrence was discovered in 1981 by systematic drilling of IP anomalies. The mineralization is associated with a porphyry dyke, a setting similar to that of the Band Ore Main Zone located 2.5 km to the east, and occurs under thick overburden with no known direct surface expression. The following drill intersections highlight the importance of the Hag Lake area :
– 11.69 g/t Au over 7.07 m from 102.72 to 109.79 m (including 41.78 g/t Au over 1.71 m)
– 91.41 g/t Au over 0.50 m from 123.50 to 124.00 m
– 10.29 g/t Au over 0.65 m from 48.85 to 49.50 m
– 1.36 g/t Au over 11.51 m from 107.49 to 119.00 m (including 11.66 g/t Au over 1.01 m)
– 0.97 g/t Au over 11.99 m from 40.80 to 52.79 m (including 1.64 g/t Au over 4.18)
– 0.50 g/t Au over 64.31 m from 35.66 to 99.97 m (including 2.23 g/t Au over 1.22 m)
The Hag Lake mineralization remains open and has never been drill tested by Golden Share. Figures 1 and 2 appended below illustrate this recent compilation of historical data.
Martin Bay – 107.45 g/t Au and 826.00 g/t Ag in historical surface sampling
The Martin Bay Zone consists in a 250 m wide highly altered regional deformation zone hosted in the Shebandowan stock where historical surface sampling of the "Haines" quartz vein and associated stringer zone returned gold and silver values up to 107.45 g/t Au and 826.00 g/t Ag respectively. Surface sampling by Golden Share in 2009 yielded grades up to 25.50 g/t Au in the Haines vein and up to 12.25 g/t Au in a newly discovered parallel vein 40 m to the west. A subsequent first pass 537 m drill program executed by Golden Share in 2009 confirmed the strength of the alteration and the potential of the Martin Bay zone.
Both Hag Lake and Martin Bay represent compelling high grade targets which highlight the potential of the Shebandowan project. While the Company’s immediate focus is on the Berens River and Pick Lake projects, the Shebandowan project remains a key asset for the Company. In order to optimize its cash resources, Golden Share has terminated its lease for the Shebandowan camp and the drill core has been securely stored in a locked container on the Company’s ground.
While the Company received its Exploration Permit and Plan in accordance with Ontario’s new Mining Act earlier this year, the Company is also pleased to report that it has signed a Memorandum of Understanding ("MOU") with the Lac des Mille Lacs First Nation ("LDMLFN"). The MOU is a first step document aimed at guiding all parties through the initial exploration phases in a spirit of mutual respect, on-going dialogue and regular interaction while also recognizing the need to consult with the LDMLFN for employment opportunities.
About Golden Share
Golden Share Mining Corporation is a Canadian-based mining exploration company developing a promising and well-balanced property portfolio in the mineral belts of Eastern Canada, 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 Minerals Corp., 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 and sees the merged entity as an ideal platform to further develop its activities in mining 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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Figure. 1 – North Shebandowan Contact Zone compilation
Figure. 2 – Hag Lake historical DDH compilation
Posted: November 21st, 2013 under ACCESSWIRE.