VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 27, 2015) – Meadow Bay Gold Corporation (“Meadow Bay Gold” or the “Company”) (TSX:MAY)(OTCQB:MAYGF)(FRANKFURT:20M)(WKN A1C3DN) is pleased to report it has received assay results from its first hole at its Atlanta Gold Mine, Lincoln County, Nevada.
The hole penetrated a sequence of post-mineral volcaniclastic sediments before intersecting the Atlanta Porphyry which overlies the Atlanta Shear Zone. The shear zone had a thickness of 300 feet (91 m) and contained precious metal mineralization across its entire width. Precious metals were also found in both the overlying Atlanta porphyry and the underlying Paleozoic dolomites found in the footwall of the Atlanta Shear Zone.
Table showing new significant intercepts from 2015 Atlanta drill program:
|Au g/t||Ag g/t|
|DHRI-15-LRC01||Atlanta Shear Zone||324.61||211.84||294.13||82.29||2.03||11.0|
|Abbreviations: Au = gold; Ag = silver; g/t = grams per tonne, m = metre|
|Note 1: intervals approximate true widths.|
“We are encouraged by the results of this first drill hole,” stated Meadow Bay CEO Christopher Crupi. “Previous exploration suggests the presence of a high-grade shoot within the Atlanta Shear Zone that was never tested by previous operators. Our drill program is intended to test this area with the goal of finding a higher-grade zone within the deposit.”
The current drill program is intended to in-fill ‘donut holes’ in the existing resource. Layne Christensen Company of Chandler, Arizona, completed the hole using an Ingersoll Rand TH-75 drill. Assays were performed by ALS Minerals of Vancouver, BC, with sample preparation at its Elko, Nevada, facility. The insertion of standards, blanks and duplicates as well as logging was conducted by Meadow Bay personnel at the Atlanta mine site.
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.
Christopher Crupi, CEO or
Charles “Bill” Reed, Director