Golden Share Provides an Update on its Exploration Programsadmin
Golden Share Mining Corporation is pleased to provide an update on its on-going exploration programs.
The Company is advancing four projects and intends to execute three drill programs before the end of the year. Golden Share is sufficiently funded to achieve this objective and adequate field personnel are available. A diamond drilling contract has been awarded and drilling equipment is now reserved for Golden Share’s program.
Malartic Lakeshore property
The compilation work is almost finalized and new sections have been established with previous drilling information. Additional surface targets have also been identified on the property. The stripping program is now almost complete and the freshly exposed areas are currently being channel sampled and mapped in detail. Numerous quartz veins have been exposed and locally intense mineralization comprising pyrite, chalcopyrite and galena has been observed. Diamond drilling is expected to start by mid-August once detailed mapping is completed.
Compilation work is completed and field geological evaluation has been performed. Four preliminary channel samples were taken in a previously unsampled part of the Forsan mineralized zone. The following results were obtained :
– Channel 1 – Number of samples: 4
– 1.42 g/t Au @ 2.70 m, maximum value obtained: 4.23 g/t Au
– Channel 2 – Number of samples : 8
– 0.51 g/t Au @ 8.00 m, maximum value obtained: 2.29 g/t Au
– Channel 3 – Number of samples: 9
– 0.27 g/t Au @ 9.00 m, maximum value obtained: 1.08 g/t Au
– Channel 4 – Number of samples: 6
– 0.46 g/t @ 6.00 m, maximum value obtained: 1.56 g/t Au
A detailed map will be provided once the upcoming stripping work is executed.
Three dimensional modelling and surface work have shown the main zone to be east-west trending and cross-cutting the main porphyry. Potential sub-parallel zones have been recognized and up coming trenches will be positioned to test the newly identified targets. Permits for trenching and stripping have been introduced and this work is anticipated to start in early August. Diamond drilling is expected to be initiated as soon as stripping is finalized and results have been interpreted.
Compilation work is well advanced and a first surface reconnaissance program will be initiated by mid-July. Proper re-localization of previous work, surface follow-up on new IP anomalies, systematic channel sampling on the principal mineralized zones of the Penziwol area as well as thorough prospecting of the western part of the property will be executed by early August. A diamond drilling program is planned for the fall.
Stripping is finalized and 21 channel samples have been collected. Compilation work performed by Terrax Management is also finalized and new targets are being evaluated for further work.
InnovExplo, a Val d’Or based geological consulting group, is responsible for the geological management of the Malartic Lakeshore project under the supervision of Mr. Alain Carrier, P. Geol. Mr. Pierre Poisson, P. Geol., of Muroc Inc., a geological consulting firm based in St-Adolphe d’Howard, Quebec, is overseeing the development of the Forsan and Elwood projects. The exploration programs are under the supervision of Mrs Laurence Huss, P Geol., and Vice-President Exploration of Golden Share.
Golden Share intends to report on a regular basis on the advancement of its work programs.
Philippe Giaro, P.Geol., President and CEO of Golden Share Mining Corporation and Qualified Person for Golden Share, has reviewed and approved the content of this release.
About Golden Share Mining Corporation
Golden Share Mining Corporation (CDNX:GSH.V) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada. Golden Share was created through the reorganization of SearchGold’s Canadian gold assets and is lead by an experienced management team at the technical and corporate level. The Company’s projects straddle three greenstone belts of Eastern Canada, are accessible by road and are all located close to the established mining centers of Val d’Or and Rouyn-Noranda in Quebec and Shebandowan, west of Thunder Bay, in Ontario.
Golden Share recently completed its initial public offering and finalised a $2,666,025 financing with Canaccord Capital Corporation who acted as the agent. The Company has 24,480,193 common shares issued and outstanding and Golden Share’s common shares have started trading on the TSX Venture Exchange under the symbol “GSH” on January 14th 2008. The net proceeds from the initial public offering will be used by Golden Share mostly for exploration work on its Forsan and Malartic Lakeshore properties, and for working capital and general corporate purposes.
Contacts: Golden Share Mining Corporation Philippe Giaro President & CEO 32-473-52-30-29
Golden Share Mining Corporation Denis Tremblay Vice-President 514-866-4224
MI3 Communications Inc. Daniel Vine Vice-President 514-904-1333
Source: Golden Share Mining Corporation