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BLAINE, WASHINGTON--(Marketwire - Jan. 17, 2010) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) is pleased to announce results of surface diamond drilling at the Bedard Dyke within the Lamaque gold project. The current drill program is designed to test the extent of the dyke, as well as the grade. A total of 21 holes (10,765 ft) were planned but only 13 (6,748 ft) have been completed to-date due to an interruption in the drill program. The Company is currently reviewing tenders for the completion of the drill program and plans to commence drilling of the remaining 8 holes (approximately 4,000 ft) in the first quarter of 2010.
"The Bedard Dyke continues to show significant exploration promise and the results are very exciting. Century looks forward to continue building the reserves and resources at the Lamaque gold project, where currently existing reserves and measured and indicated resources exceed 2.4 million ounces of gold. The Lamaque mine also contains approximately 3.1 million ounces of inferred resources that the Company will look to upgrade in 2010 and beyond. The Lamaque gold project is moving forward, and with the recent closing of our $60.75 million financing, we look to be pouring gold for many years at Val-d'Or, Quebec," commented Margaret Kent, President & CEO.
About the Bedard Dyke
The Bedard Dyke, which strikes SW and dips steeply to the south, is located at the west end of the historical Sigma open-pit, and runs beneath the adjacent Highway 117. The Bedard Dyke outcrops in the open pit and will be an important ore source during the startup of the Lamaque Mine. The Bedard dyke is typical of the mineralized dykes found at the Lamaque mine. Mineralization is contained both in flats within the steeply south dipping dyke and within flats hosted by volcanic rocks adjacent to the dyke. The current drilling program has delineated the spatial location of the dyke, however the best method for determining the grade of the dyke will be to drill it down dip and along strike. This method of drilling will ensure that all flats within the dyke are intersected by the drill holes.
The current drilling intersected the Bedard Dyke at depths varying between 61 and 748 feet below topographic surface. Interpretation of the dyke, utilizing current and historic drill holes is currently being completed and indicates that the Bedard Dyke has a minimum strike length of 705 feet and dips approximately 80 degrees to the south. The dyke pinches, swells and bifurcates both along strike and down dip. Dyke widths vary from approximately 6 feet thick on the western end to 30 feet thick on the eastern end near the Sigma Pit.
Please see table below for drillhole detail and assays:
Hole From Downhole Grade
Number Azimuth Dip Length (ft) (ft) To (ft) Intersect (ft) g/t Au
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2610-1 0 -75 305.1 110.7 112.0 1.3 8.59
2610-1 117.3 121.2 4.0 14.35
2610-1 243.5 249.3 5.8 13.74
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2610-2 180 -89 462.6 207.4 217.4 10.1 11.19
2610-2 229.0 238.0 9.1 3.19
2610-2 321.9 347.5 25.6 2.73
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2610-3 285 -45 310 "Negligible"
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2610-4 249 -73 600.5 382.3 393.7 7.8 3.73
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2610-5 267 -45 354.33 "Negligible"
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2610-6 249.5 -62 748.03 "Negligible"
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2655-2 0 -90 600.39 202.0 205.0 3.0 2.27
2655-2 223.4 225.5 2.1 12.15
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2745-1 0 -57 403.54 188.7 196.1 7.4 35.00
2745-1 267.6 269.5 1.9 8.92
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2745-2 0 -80 748.83 553.0 555.6 2.6 6.84
2745-2 657.0 660.9 3.9 2.44
2745-2 663.2 671.0 7.8 6.98
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2745-3 0 -72 531.5 224.7 226.3 1.6 5.11
2790-1 0 -50 374.02 178.3 188.1 9.8 10.72
2790-1 248.6 249.9 1.3 24.00
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2790-2 0 -66 511.8 266.3 267.8 1.6 8.87
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2790-3 0 -78 797.24 625.4 627.4 2.0 5.55
2790-3 639.8 651.7 11.9 5.59
2790-3 662.6 667.4 4.8 3.45
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The follow up program in the first quarter of 2010 will be oriented to drill the dyke down its dip and along strike. Five of the holes will be drilled with lengths varying from 500 to 1000 feet and dips from -45 to -80 degrees. This will allow the dyke to be tested along a vertical extent ranging from 350 to 915 feet below topographic surface. Once the drilling has been completed and all assays returned, the Bedard Dyke will be remodeled utilizing Vulcan software to determine additional measured and indicated resources and proven and probable reserves that are hosted within the dyke.
The current drill program is designed to test the extent of the dyke, as well as the grade. In addition, specific holes have been geotechnically logged to determine the integrity of the crown pillar for the proposed underground mining of the Bedard Dyke. The geotechnical studies on the crown pillar are being completed by Golder Associates. Golder has completed the field engineering studies on the core and will provide a report and recommendations for the design of the crown pillar of the Bedard dyke.
Ross Burns P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release., The drill program was completed under the supervision of Wolf Schleiss, P.Geo. Samples were assayed at ALS Chemex in Val d'Or using standard fire assay techniques with a gravimetric finish.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Margaret M. Kent, President & CEO
Caution Concerning Forward-Looking Information
This press release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in gold and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our South American activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis included in this Annual Report, in our Annual Information Form and in other filings made by us with the Securities and Exchange Commission and with Canadian securities regulatory authorities and available at www.sedar.com.
While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Century Mining Corporation
Peter A. Ball
Director of Investor Relations
(360) 332-4653 or Toll Free: (877) 284-6535
(360) 332-4652 (FAX)
pball@centurymining.com
www.centurymining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 comment:
These are great results IMO and the timing could not have been better than right now, during the Vancouver show!
Keep it up Peter, Great Job!!
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