VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 13, 2015) – Meadow Bay Gold Corporation (“Meadow Bay Gold” or the “Company”) (TSX:MAY)(OTCQB:MAYGF)(FRANKFURT:20M) (WKN A1C3DN) is pleased to report that drilling is planned for this fall at its flagship Atlanta Gold Mine Project in Lincoln County, Nevada. Bids for two separate projects have been solicited from drill contractors.
The first project will entail reverse circulation (RC) drilling at the existing resource surrounding the historic Atlanta Mine. Previous drilling in 2011 left untested areas within the confines of the defined resource. The goal of this drill program is to explore these ‘donut holes’ within both the Atlanta Shear Zone as well as the adjacent Atlanta Porphyry. A limited drill program in 2012 was successful in filling in one of the holes and demonstrated the continuity of mineralization.
The second project will be a maiden drill program at the Western Knolls which lies just to the west of the Atlanta Mine. Previous work at the Western Knolls consisting of geochemical and geophysical surveys has revealed a broad area of alteration with attendant precious metal values. Because this area has never been drilled, diamond core is needed to provide critical 3D geologic information. Initial targets have been selected on the basis of a geophysical synthesis that suggests similarities with the Atlanta Porphyry.
Both projects will be staged out of the Company’s camp at the Atlanta Mine. The camp is in close proximity to both projects and has ample accommodations for both projects to be conducted simultaneously.
“Meadow Bay’s goal is to increase the resource at the Atlanta Mine by an additional 50% by filling in the donut holes. We think this is easily achievable.” states Christopher Crupi, CEO of Meadow Bay Gold. “At the Western Knolls our goal is to move this exciting project toward a discovery. We continue to be amazed that with all the exploration that has taken place in Nevada over the last fifty years, virgin properties such as the Western Knolls remain to be tested.”
Charles “Bill” Reed, a Qualified Person as defined by National Instrument 43-101 and Director of the Company, has reviewed and approved the contents of this press release.
This release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking information includes, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the calculation of a new mineral resource estimate.
Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “planning”, “planned”, “expects” or “looking forward”, “does not expect”, “continues”, “scheduled”, “estimates”, “forecasts”, “intends”, “potential”, “anticipates”, “does not anticipate” or “belief” or describes a “goal” or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking information is based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen breakdowns, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold and silver; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company’s publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
Meadow Bay Gold Corporation
Charles “Bill” Reed