Newstrike and Queenston Begin Drilling on the Commodore JV
Newstrike Resources Ltd. and Queenston Mining Inc. announce that a diamond drill program has commenced on the Commodore joint venture property located in Lebel and Gauthier townships in Kirkland Lake, Ontario.
The property is favourably located in the Kirkland Lake gold camp totaling 57 mineral claims comprising 25 patented and 32 unpatented claims. Further details regarding the claims are provided in a joint news release dated August 27, 2009 available on SEDAR at www.sedar.com.
The combined property covers seven kilometers of a favourable assemblage of Timiskaming rocks that elsewhere in the camp hosts the historic 24 million ounce Kirkland Lake Main Break gold deposits, 8 km to the west and the 1.5 million ounce Upper Canada gold mine, 3 km to the east. Two gold structures, the Upper Canada Break and 03 Break trend across the property and host known zones of mineralization including the Morris mine, Commodore deposit and the HG zone.
The Morris mine historically produced approximately 17,000 ounces of gold and 29,300 ounces of silver from 1936-1941 and has only experienced sporadic exploration over the past 70 years. It is interpreted to be located on the “03 Break”. The Commodore deposit was first drilled in the 1950′s and in 1995 Sudbury Contact Mines Limited completed further drilling outlining a deposit that contains an historic mineral resource of 669,500 t grading 2.4 g/t Au including 278,500 t grading 3.8 g/t Au. The resource was calculated by W.A. Hubacheck Consultants Limited in a report dated January 1997 filed with the Ontario Ministry of Northern Development and Mines. This resource is not compliant to National Instrument 43-101 and should not be relied upon as it has not been verified by a qualified person under these guidelines. West of the Commodore Zone the HG zone was discovered in a single drill hole by Sudbury Contact assaying 43.5 g/t Au over a core length of 1.5 m.
The joint venture has approved a $530,000 exploration budget and today a diamond drill program has commenced to initially target the HG zone and Commodore deposit, interpreted as being controlled by the Upper Canada Break, a prominent gold structure that traverses the south-central portion of the property for 3 km, that hosts both the Commodore deposit and HG zone (see attached surface plan). This first phase, 3,800 m program, will follow-up and expand both the Commodore and HG mineralization and begin to test a 1.5 km section along the Upper Canada Break located between the two known zones of mineralization. The Upper Canada Break has recently become more significant as a result of Queenston’s drilling on their neighboring Upper Canada Mine property where they have announced the potential for a bulk tonnage-open pit resource (see Queenston news release dated October 1, 2009). Attached to this news release is a plan of the joint venture property highlighting the primary exploration target to be tested with the first phase of drilling. The plan is also available on Newstrike’s website at www.newstrikeresources.com and Queenston’s web site at www.queenston.ca