Hy Lake Gold Inc.: Rowan Main Zones Yield New High-Grade Results
69.3 g/t over 6m including 362 g/t gold over 1m
Toronto, Ontario CANADA, November 14, 2011 /FSC/ - Hy Lake Gold Inc. (HYL - CNSX),is pleased to announce drill results from the second of two targets recently drilled its 60%-owned Rowan Lake Mine property, held in a Joint Venture with Red Lake Gold Mines, a General Partnership of Goldcorp Inc. and Goldcorp Canada Ltd. Results from the first target at the high-grade Rowan-NT Zone were recently released (see news release of Nov. 3, 2011).
Highlights from the recent 4-hole drilling program include:
* Hole HY-11-58 intersects a 6 meter wide zone of 69.34 g/t gold with three high grade intercepts: 362 g/t gold, 34.50 g/t gold and 16.90 g/t gold, each over a 1 metre width;
* Hole HY-11-59 intersects a 3 meter wide zone of 24.88 g/t gold with 73.6 g/t over 1metre;
* Hole HY-11-61 intersects a 2 meter wide zone of 4.77 g/t gold with 7.76 g/t over 1 metre.
* A table of significant results from this drilling is shown below.
The 4-hole, 1,694 metre drill program at Rowan Main Zones focused on further delineation of a series of several sub-parallel, high-grade gold zones to the east-north-east of the Rowan Lake Mine shaft. The drilling program consisted of two pairs of holes, 90 m to the east and 50 m to the north of the 2010 drill locations. The main geological result of this drilling was the discovery of a second breccia corridor, intersected by all 4 holes, with striking lithological and structural similarities to the Rowan-NT breccias (see Figure 1).
To view Figure 1, click on the link below or paste the link into your browser:
http://www.usetdas.com/maps/hylake/hylnov2.jpg
This cross-cutting zone of quartz-carbonate breccias, often with strong sulphide (mainly pyrite and pyrrhotite) mineralization, is hosted by felsic/mafic/ultramafic volcanics and quartz porphyry. The breccia corridor is quite wide, ranging from 90 to 250 metres along the hole trace, and may occur split into several breccia subzones separated by considerably less deformed units of 10 to 30 metres wide. This compares favourably with recent results at Confederation Minerals' Newman Todd property to the south of Hy Lake Gold's Rowan Lake Mine property (see Confederation news release of November 2, 2011).
During the 2010 drilling, 4 holes drilled within the Rowan Main Zones structural corridor intersected high grade gold zones (see news release of October 21, 2010). In addition to intersecting high grade mineralization within volcanic sequences, on trend with existing veins, these holes also intersected high grade mineralization within the sedimentary sequence. This Calc-Silicate Zone (CS Zone), which bears some characteristics of the Rowan-NT Zone breccias, is believed to be a new parallel zone to the north of the known Rowan Main Zones vein systems.
Although gold mineralization can be found at many intersections within the breccias, the zones with the highest grades often line up with the known Rowan Main Zones high grade veins to the west. The highest grade intercept from this project (362 g/t gold) is on strike with the Calc-Silicate Zone discovered in 2010 (see Figure 2).
To view Figure 2, click on the link below or paste the link into your browser:
http://www.usetdas.com/maps/hylake/hylnov3.jpg
Table of significant results
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Hole From(m) To(m) Gold(g/t) Width(m)
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HY-11-58 composite 84.00 90.00 69.34 6.00
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HY-11-58 including 84.00 85.00 34.50 1.00
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HY-11-58 and including 85.00 86.00 16.90 1.00
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HY-11-58 and including 87.00 88.00 362.00 1.00
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HY-11-58 and including 88.00 89.00 1.91 1.00
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HY-11-58 and 112.00 113.00 1.20 1.00
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HY-11-58 and 306.00 307.00 3.99 1.00
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HY-11-59 53.00 54.00 1.28 1.00
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HY-11-59 composite 254.00 257.00 24.88 3.00
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HY-11-59 including 255.00 256.00 73.60 1.00
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HY-11-59 and including 259.00 260.00 2.54 1.00
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HY-11-59 and including 401.00 402.00 1.67 1.00
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HY-11-60 and 54.00 55.00 3.11 1.00
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HY-11-60 and 71.00 72.00 2.20 1.00
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HY-11-61 78.00 79.00 1.06 1.00
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HY-11-61 and 84.00 85.00 1.02 1.00
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HY-11-61 composite 411.00 413.00 4.77 2.00
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HY-11-61 including 411.00 412.00 1.77 1.00
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HY-11-61 and including 412.00 413.00 7.76 1.00
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* None of the intersection widths should be construed as necessarily representing a true width of the sampled material.
Weighted average gold intervals apply a 0.25 g/t lower cut-off
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Vadim Galkin, VP Exploration comments: "The 362 g/t gold (more than 11 oz/t gold) intersection is quite impressive by itself yet the geological implications of the overall drilling results are no less significant. It seems there two opposing models of gold mineralization in the Rowan Main Zones area - narrow high-grade subvertical veins on the one hand and wide high-grade breccia zones with more disperse (disseminated) mineralization on the other - making a very interesting and promising arrangement. The Rowan Main Zones high-grade veins are unusually long (350-850 m) and are often associated with the breccias. Wide shear zones may serve as conduits for massive volumes of rich, saturated, gold-bearing fluids resulting in disperse mineralization of the breccias on-mass with relatively narrow, high-grade gold concentrations along the main sliding planes where fluid permeability, due to shearing and dilation, is much higher. The details of the gold mineralization process and its interplay with the complex deformational history are yet to be determined but from an exploration standpoint the drilling results, and associated depth potential, are very exciting."
Hy Lake Gold President and CEO Robert Seitz added: "The geological model that is emerging for Hy Lake Gold's Rowan-NT Zone may likely be extended to the Rowan Main Zones area - and vice-versa - the Rowan Main Zones high-grade vein model may be logically incorporated into Rowan-NT Zone breccia model. Among the significant implications of such a combined model is the potential for an additional 2 kilometres of high-grade strike length along this east-west limb of the Rowan Main Zones mineralized corridor. The western on-strike extension of the structure, onto the Mount Jamie Mine property, implies an open exploration horizon of a further 3 kilometres. The potential for a 7 kilometer strike length of high-grade mineralized structure, aligned along a major regional deformation corridor, is a very exciting prospect. This is all the more interesting when you extrapolate the 1.7 million ounce resource estimate calculated by Fraser Mackenzie Limited (see Equity Research Report of April 28, 2011) in their report on neighbouring Confederation Minerals' 2 kilometer potential strike length of the Newman Todd Structure to the south-west of the Rowan-NT Zone. We believe there now exists significant potential for a multi-million ounce gold resource on the combined Hy Lake Gold properties."
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