(TheNewswire)
January 24, 2017 / TheNewswire / New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD) (OTCBB LADFF) - is pleased to announce underground channel sampling results from the on-going exploration work at the Ladner Creek Project.
Underground channel sampling and mapping continues at the Carolin Mine Zone, where historical mining and drilling has identified numerous zones of gold mineralization. The current work program is designed to provide additional data in previously un-sampled areas of the underground workings.
Channel LCU16-002 is located on the 875 level on the west side of the exploration drift in an area where historical work did not indicate the presence of high grade gold mineralization. Channel LCU16-002 intersects 40.30 metres of 2.62 g/t Gold, including 5.20 metres of 9.22 g/t Gold and including 2.10 metres of 17.88 g/t Gold and presents a new target for follow-up work with underground drilling.
Table 1 shows a complete list of channel sample intercepts:
----------------------------------------------------------------- |Channel ||From (m)|To (m)|Width (m)|Au (g/t)| |---------------------------------------------------------------| |LCU16-CHN01|Anomalous values|| | || |---------------------------------------------------------------| |LCU16_CHN02||0.00 |40.30 |40.30 |2.62 | |---------------------------------------------------------------| |LCU16_CHN02|including |0.00 |8.10|8.10|4.18 | |---------------------------------------------------------------| |LCU16_CHN02|and including|2.00 |8.10|6.10|4.91 | |---------------------------------------------------------------| |LCU16_CHN02|and including|2.00 |3.00|1.00|10.50| |---------------------------------------------------------------| |LCU16_CHN02|and including|25.90|31.10 |5.20|9.22 | |---------------------------------------------------------------| |LCU16_CHN02|and including|26.90|29.00 |2.10|17.88| |---------------------------------------------------------------| |LCU16_CHN02|and including|26.90|27.90 |1.00|26.00| |---------------------------------------------------------------| |LCU16_CHN03||26.00|34.00 |8.00|1.14 | |---------------------------------------------------------------| |LCU16_CHN04|anomalous values|| | || |---------------------------------------------------------------| |LCU16_CHN05||8.00 |11.00 |3.00|1.15 | -----------------------------------------------------------------* width represents core length. True width has not been established. All composite intervals are calculated using a 0.10 g/t Au cut-off grade with <= 1.0m of internal waste dilution.
Underground Geological mapping and channel sampling is ongoing in newly accessible areas of the underground at the Carolin Mine Zone in preparation for the up-coming Phase Two underground Drill Program.
All technical information for the Carolin Mine Project is obtained and reported under a formal quality assurance and quality control (QA/QC) program. A quality control gold standard of known value was randomly inserted every 25 samples along with a blank (zero grade material) and a duplicate sample. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. Samples were transported to a secure storage facility in Hope B.C. and shipped to Activation Labs in Kamloops, B.C. an accredited mineral analysis laboratory for preparation and analysis utilizing both fire assay and metallic screen methods.
Mr. R. Bob Singh, P.Geo, Exploration Manager, is the qualified person responsible for the technical content of this news release.
About New Carolin Gold Corp.
New Carolin Gold Corp. is a Canadian-based brownfields development company focused on the exploration, evaluation and development of our 100% owned property, consisting of 144 square kilometers of contiguous mineral claims and crown grants collectively known as the Ladner Gold Project. The Company is currently executing exploration programs on the property which is located 2 hours by freeway from Vancouver near Hope, British Columbia, in the prospective and under-explored Coquihalla Gold Belt. The Company has an existing mine permit, water licenses and tailings facility in place, as well as 10.5 kilometers of underground tunnels that are now completely accessible for exploration access. The Ladner Gold Project is host to several historic gold producers, including the Carolin Mine, Emancipation Mine, Arum Mine, Ward Mine, and Pipestem Mine, in addition to numerous artisan workings and gold prospects that typically exploit high grade visible gold mineralization.
For additional information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Robert L. Thast"
President & Chief Executive Officer
Phone:604.542.9458
Cell:604.220.5031
E-mail: ceo@newcarolingold.com
Web site: www.newcarolingold.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the 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 the accuracy of this press release.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
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