Golden Odyssey Mining Inc.: Mexican Hill Geologic Program Completedadmin
Golden Odyssey Mining Inc. has completed the geologic mapping and sampling program on its Mexican Hill project on the Carlin Trend in Elko County, Nevada. The project is located 40 miles south of Carlin, Nevada and is approximately 35 miles southwest and on trend with Newmont’s Rain and Emigrant Springs deposits.
The work has confirmed a structural – stratigraphic setting similar to that of the Rain District where the contact of the Chainman shale and Devils Gate limestones represent a regionally permissive host horizon. Significant ore deposits occur where this horizon is intersected by high angle mineralizing structures. Soil sampling at Mexican Hill has also returned subtle geochemical distributions of arsenic, antimony, zinc and barium which are typical of the distal portions of the Rain system. Using the Rain deposit as an exploration model, the Company has designed a two phase drill program consisting of 13 holes for a total footage of 9,100 feet. Drill permit applications have been submitted to the U.S. Bureau of Land Management and are expected to be approved shortly.
The geologic mapping and soil sample collection has been completed by E.L. “Buster” Hunsacker III, an independent qualified person under the definition of NI 43-101. Soil samples were analyzed at Inspectorate America Corporation Labs in Reno, Nevada.
Details of this and other Company projects can be viewed on the Company’s web site at www.GOmininginc.com and on Sedar at www.sedar.com.
In other news, the Company has regretfully accepted the resignation of Douglas Stuve as a director. Mr. Stuve was instrumental in bringing the Company public in 2004 and has been a director since its founding. Time constraints have forced him to resign from several directorships in addition to Golden Odyssey. His legal firm, Burstall Winger LLC, will remain as the Company’s solicitors.
About Golden Odyssey
The Corporation, through a wholly owned subsidiary, is engaged in the acquisition and exploration of mineral properties in the State of Nevada. Golden Odyssey currently has five active projects all situated on major gold trends. On the Walker Lane Belt in Esmeralda County the Corporation has the Morningstar and Palmetto projects. The region is currently being actively explored by Barrick Gold/Kinross Gold at the Round Mountain Mine, Gryphon Gold at the Borealis Mine and Newcrest at the Redlich project. On the Cortez Trend in Eureka County, the Corporation holds the Anchor and JDS projects, situated on trend with Barrick Gold Corporation’s East Archimedes mine and US Gold Corporation’s Tonkin Springs Mine. On the Carlin Trend in Elko County the company is exploring the Mexican Hill project which is southeast of Newmont’s Rain and Emigrant Springs mines.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. Golden Odyssey Mining Inc. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect the financial results is included in documents filed from time to time with Canadian securities regulatory authorities by Golden Odyssey Mining Inc.
Shares Outstanding: 30,536,580
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: INVESTOR/PRESS CONTACT: Barry Kaplan Associates Andrew J. Kaplan (732) 747-0702 (732) 758-1837 (FAX)
Golden Odyssey Mining Inc. Jeffrey R. Wilson Cellular: (604) 837-5440
CORPORATE CONTACT: Golden Odyssey Mining Inc. David R. Shaddrick, President and CEO (775) 787-8400 (775) 787-8466 (FAX)