Post by fastwalker on Aug 31, 2004 21:10:37 GMT -5
:DFYI...INFORMATIONAL READ..This os not a recommendation to purchase. just one to review the following company...
August 31, 2004 07:09 PM US Central Timezone
Little Squaw Gold Mining Company Announces Chandalar Exploration Progress
SPOKANE, Wash.--(BUSINESS WIRE)--Aug. 31, 2004--Little Squaw Gold Mining Company (the "Company") (OTCBB:LITS) is actively exploring and developing additional drilling targets on its wholly owned gold mining claims at Chandalar, Alaska. This is a preliminary up-date, as fieldwork is ongoing.
1. The Company has expanded its mining claims position from 8,550 acres to 9,830 acres (15.4 sq. miles), largely to cover important outlying gold prospects.
2. The Company has completed an initial structural geology study of the Chandalar district using high altitude aerial photography. Numerous pronounced linears interpreted to represent deep-seated faults were identified. Some typify block faulting forming horst and graben-like features. Major structural intersections are believed to be a controlling factor in the emplacement of the Chandalar district gold mineralization. Fifty nine such sites were identified, and ten have been selected for priority field examination.
3. The Company has completed phase I of the 2004 field program and has launched into phase II using contract services of certified professional geologists. The work is of a reconnaissance nature with the objectives of assessing the validity of historic records, refining known drilling targets, and identification of new drilling targets. To this end, several prospects of previously unevaluated or unknown gold mineralization have been found. Of these, two are particularly significant -- the Pioneer and the Rock Glacier.
At the Pioneer, channel sampling of a quartz vein partially exposed in an old working yielded an assay of 2.30 ounces per ton of gold over width of 2.5 feet. A second sample 15 feet away consisting of grabs of quartz vein float assays 2.16 ounces of gold per ton. This prospect contains very high-grade gold values of unknown extent, and it is also associated with a major shear zone at least three miles long. More work to define a drilling target is being conducted here.
The Rock Glacier prospect is a previously unreported area of widespread quartz in debris of a large rock glacier -- a form of landslide of ice and boulders. Random chip samples of cobbles of vein quartz are highly anomalous in gold with assays up to 6.51 parts per million (ppm) gold. Some of the quartz boulders are up to three by nine feet in size. The sediments of the stream draining the rock glacier are also highly anomalous in gold -- assaying 0.442 ppm gold. The rock glacier covers a portion of the strike length of the Eneveloe shear zone, and the Company's consulting geologists believe that a significant zone of gold mineralization may occur within it under the rock glacier. More work to define a drilling target is also being conducted here.
Great progress has been made in defining geological features helpful in planning a drilling campaign. The most telling of these is the discovery of hydrothermal alteration haloes that envelop locations of strong gold mineralization within the major shear zones. The Company is planning ground based magnetic surveys that may reveal hidden zones of altered bedrock.
The bedrock around the Mikado Mine is strongly altered. This mine has produced about 10,000 tons at an average grade of one ounce per ton. Consulting geologists have ascertained that significant un-mined mineralized material remains in the mine workings and that the gold mineralization is open to depth extensions. The previously mined ore was extremely high grade in places. A recent grab sample from the mine dump assayed over 20 ounces gold per ton.
The Company is methodically building a considerable suite of substantive drilling targets on the Chandalar gold property (See press release #2-03, July 21, 2003). The drill targets include both high-grade underground deposits and targets for lower-grade deposits amenable to surface bulk methods. The Company is currently seeking financing to accomplish substantial drilling programs at Chandalar, and it is also searching for a senior joint venture partner that would finance further development of the Chandalar property.
ALS Chemex of Vancouver, Canada has provided the assays reported herein.
More information on the Chandalar gold property can be obtained on the Company's website at www.littlesquawgold.com.
Contacts
Little Squaw Gold Mining Company
Richard Walters, 509-624-5831
Facsimile: 509-624-2878
e-mail: ir@littlesquawgold.com
;D
August 31, 2004 07:09 PM US Central Timezone
Little Squaw Gold Mining Company Announces Chandalar Exploration Progress
SPOKANE, Wash.--(BUSINESS WIRE)--Aug. 31, 2004--Little Squaw Gold Mining Company (the "Company") (OTCBB:LITS) is actively exploring and developing additional drilling targets on its wholly owned gold mining claims at Chandalar, Alaska. This is a preliminary up-date, as fieldwork is ongoing.
1. The Company has expanded its mining claims position from 8,550 acres to 9,830 acres (15.4 sq. miles), largely to cover important outlying gold prospects.
2. The Company has completed an initial structural geology study of the Chandalar district using high altitude aerial photography. Numerous pronounced linears interpreted to represent deep-seated faults were identified. Some typify block faulting forming horst and graben-like features. Major structural intersections are believed to be a controlling factor in the emplacement of the Chandalar district gold mineralization. Fifty nine such sites were identified, and ten have been selected for priority field examination.
3. The Company has completed phase I of the 2004 field program and has launched into phase II using contract services of certified professional geologists. The work is of a reconnaissance nature with the objectives of assessing the validity of historic records, refining known drilling targets, and identification of new drilling targets. To this end, several prospects of previously unevaluated or unknown gold mineralization have been found. Of these, two are particularly significant -- the Pioneer and the Rock Glacier.
At the Pioneer, channel sampling of a quartz vein partially exposed in an old working yielded an assay of 2.30 ounces per ton of gold over width of 2.5 feet. A second sample 15 feet away consisting of grabs of quartz vein float assays 2.16 ounces of gold per ton. This prospect contains very high-grade gold values of unknown extent, and it is also associated with a major shear zone at least three miles long. More work to define a drilling target is being conducted here.
The Rock Glacier prospect is a previously unreported area of widespread quartz in debris of a large rock glacier -- a form of landslide of ice and boulders. Random chip samples of cobbles of vein quartz are highly anomalous in gold with assays up to 6.51 parts per million (ppm) gold. Some of the quartz boulders are up to three by nine feet in size. The sediments of the stream draining the rock glacier are also highly anomalous in gold -- assaying 0.442 ppm gold. The rock glacier covers a portion of the strike length of the Eneveloe shear zone, and the Company's consulting geologists believe that a significant zone of gold mineralization may occur within it under the rock glacier. More work to define a drilling target is also being conducted here.
Great progress has been made in defining geological features helpful in planning a drilling campaign. The most telling of these is the discovery of hydrothermal alteration haloes that envelop locations of strong gold mineralization within the major shear zones. The Company is planning ground based magnetic surveys that may reveal hidden zones of altered bedrock.
The bedrock around the Mikado Mine is strongly altered. This mine has produced about 10,000 tons at an average grade of one ounce per ton. Consulting geologists have ascertained that significant un-mined mineralized material remains in the mine workings and that the gold mineralization is open to depth extensions. The previously mined ore was extremely high grade in places. A recent grab sample from the mine dump assayed over 20 ounces gold per ton.
The Company is methodically building a considerable suite of substantive drilling targets on the Chandalar gold property (See press release #2-03, July 21, 2003). The drill targets include both high-grade underground deposits and targets for lower-grade deposits amenable to surface bulk methods. The Company is currently seeking financing to accomplish substantial drilling programs at Chandalar, and it is also searching for a senior joint venture partner that would finance further development of the Chandalar property.
ALS Chemex of Vancouver, Canada has provided the assays reported herein.
More information on the Chandalar gold property can be obtained on the Company's website at www.littlesquawgold.com.
Contacts
Little Squaw Gold Mining Company
Richard Walters, 509-624-5831
Facsimile: 509-624-2878
e-mail: ir@littlesquawgold.com
;D