HY LAKE GOLD INC. (CNSX: HYL, FRANKFURT: HYK) is pleased to announce that it has
completed a 9-hole drilling program at its Rowan Lake property optioned from Goldcorp’s Red Lake Gold Mines (see news release dated August 10, 2010). The program focused on two areas of interest.
Firstly, drilling targeted the east and down dip extensions of the Rowan Main Zones. Secondly, drilling targeted the northeast extension of a large mineralized structural zone discovered on the Newman-Todd
property south of the Rowan Lake property (see Figure 1).
Four holes, totaling 1,509 metres, targeted the Rowan Zones and five holes, totaling 1147 metres, targeted the Newman-Todd structure (see Table 1 and Figure 2).
Highlights: Rowan Zones
• All holes intersected several quartz vein and structural zones consistent with previous drilling.
• Historically the vein / structural zones in the Rowan area are often associated with trace amounts
of base metals and occasionally with visible gold, this drill program successfully intersecting this
style of mineralization.
• Presently, the zone has a strike length of over 800 metres and remains open along strike, to the
east and west, and at depth.
Highlights: Newman-Todd Structure
• All holes intersected the structural zone which extends for over two kilometres to the southwest
onto the Newman-Todd property and is open along strike to the northeast and at depth.
• Mineralized zones consisted of sulphide and magnetite replacement zones with an Fe-carbonate alteration / breccia zone.
Bob Singh, P.Geo., who is a qualified person under the definition of National Instrument 43-101, has reviewed the technical information contained in this press release which was provided by Hy Lake Gold Inc. Core samples from the Rowan program were cut in half using a diamond cutting saw and sent to SGS Minerals Services, an accredited mineral analysis laboratory in Red Lake, Ontario, for preparation and
analysis utilizing both fire assay and screen metallic methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream as part of Hy Lake’s quality control/quality assurance program.
Chibougamau Diamond Drilling Ltd. of Chibougamau, Quebec mobilized a drill rig to the property and completed this drilling program as the initial phase of a 10,000 meter contract with the Company.
About the Rowan Lake Mine Property
The 117-claim Rowan Lake Mine property was optioned from Goldcorp’s Red Lake Gold Mines in December 2007. Hy Lake Gold is earning a 60% interest, as operator, in the property by spending $2,500,000 over three years (see news release dated December 13, 2007).
The Rowan property has been explored for gold since the Red Lake Gold Rush of the late 1920’s. As a
consequence, several surface gold showings have been discovered, the Rowan mine veins are considered
the most prospective and therefore the most developed. On the eastern portion of the property near Martin
Bay other commodities including base metals, silver and tungsten were also found.
The property lies within a regionally defined northwest trending structural feature known as the Pipestone
Bay - St Paul Bay Deformation Zone. This zone has within it three advanced gold occurrences including
the Red Summit, Rowan and the Mt. Jamie mines. The prized Balmer-Confederation aged unconformity
occurs both on the northern and southern portions of the Rowan property as are folded iron formations
and ultramafic units that have been shown to be prime hosts for the deposition for gold in the Red Lake
Camp. Recently, the interpretation of sets of intersecting structures has created several new, high priority
targets. The interference patterns produced by the intersection of multiple structures are potential dilation
traps. The Golden Arm ultramafic structure and the Pipestone Bay – St. Paul Bay Deformation Zone is
one such set. Another set includes two anticlines that converge at the fold closure to the east of the Rowan
shaft zones. Mineralized intersection of structures, proximity to regional unconformity and favourable
associated lithologies, such as iron formations and ultramafics, draw strong comparisons between Rowan
Lake and the discoveries in the east part of the Red Lake Camp.
The property hosts the past producing Rowan Mine site, which was in development from the late 1930s to
the 1950s. It consisted of a vertical shaft and three levels including an adit on the 1st level. During this
time underground exploration consisted of drifting/raising along five (5) separate veins. In 1984, a bulk
test was conducted on the central portion of the main shaft zone from the adit level to surface using a 91
cm wide shrinkage mining method. This bulk test was processed at Dickenson Mines Limited mill in
Balmertown and returned 610 ounces for a recovered grade of 0.25 ounces per ton. From this test, the
main shaft zone vein (MSZ) returned an average vein graded of 40 gpt (1.27 opt) from 602 samples.
Dickenson Mines continued to evaluate the economics of extracting these resources and concluded a
mineable reserve of 34,850 tons at 0.37 ounces per ton cut over 3.3 feet. A mine plan was developed by
Strathcona Minerals accessing the deposit using a ramp/decline. Five longitudinal sections were created
of the known zones and these zones and their extensions were targeted during subsequent exploration
efforts.
In 1989-1990 Chevron Minerals had the property under an option agreement and drilled several holes
testing the depth and strike continuity of this system. An inferred resource of 798,000 tonnes at 4.7 gpt
grade over a 1.5 metre diluted width contained within 10 zones was calculated. Since then, Goldcorp Inc.,
Kings Bay and Hy Lake Gold Inc. have drilled to either find new mineralized zones or extend known
zones along strike and dip.
Currently, Hy Lake Gold has an option on the property from Goldcorp’s Red Lake Gold Mines. The 2008
drilling program conducted by Hy Lake has shown that several zones including the main shaft, 3-2, 3-5,
3-6 and 3-8 zones are still open at depth over portions of the vein system. They are also in the process of
producing a 43-101 compliant resource estimate using 2, 3 and 4 gram per tonne cut offs.
The past-producing Rowan Mine has one shaft sunk to 460 feet and three levels of lateral development
totaling approximately 5250 feet, with an adit on the first level. The estimated replacement cost of this
mining infrastructure is approximately $6.6 million in today’s dollars.
About Hy Lake Gold Inc.
Hy Lake Gold is a well financed Toronto-based mineral exploration company focused on the gold
exploration and development business in the prolific Red Lake Mining District of Northwestern Ontario,
Canada. Hy Lake Gold has assembled several significant property packages totalling approximately 3,300
hectares in west Red Lake. The properties cover a 12 kilometre distance along the west Red Lake Trend,
containing 3 former producing gold mines, and the Company continues to explore these properties both
along strike and at depth. To find out more about Hy Lake Gold Inc. (CNSX: HYL; FRANKFURT:
HYK) visit our website at www.hylake.com.
Shares Issued: 34,304,195
On behalf
http://www.cnq.ca/Storage/1311/...news_release_completes_drilling.pdf -----------
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