Oct 9 2014
Lakeside Minerals Inc. (the "Company") is pleased to announce that it has commenced of a work program in the Freegold South area where historical humus and soil surveys indicate a greater than 5 km long and up to 1 km wide gold anomaly.
The Freegold South area, located approximately 9 km southeast of the Trojan zone, includes an area of historical diamond drilling with a possible undrilled southeast extension as indicated by anomalies from a 1995 humus survey and a 2007 B horizon survey. Historical drilling in the Freegold South area is limited to an approximately 300 m strike length which intersected intervals of gold mineralization including 2.67 g/t Au over 1.0 m and 3.36 g/t Au over 1.5 m in 2010. The 1995 humus survey outlined a greater than 5 km long southeast-trending anomaly in an area underlain by sheared massive to pillowed basalts and ultramafic flows with strong carbonatization, fuchsite alteration, and pyrite mineralization. The 2007 B horizon soil survey covered parts of the humus anomaly and also returned anomalous gold values. These anomalies have not been drill tested.
The first phase of the 2014 work program being carried out in the Freegold South area consists of overlapping humus and mobile metal ion ("MMI") soil sampling with the objective of validating the historical survey results and to gain a better understanding of a potential bedrock source. The work program also includes prospecting and mapping. The results of this work and the accompanying compilation of historical work will be used to assist in the selection of areas for stripping and channel sampling.
Yannis Banks, Lakeside's CEO, commented: "We are excited to be commencing work on this large anomaly which indicates the potential for a gold system of significant size. Our drill results from the Trojan block, to the northwest of the Freegold South anomaly, established the presence of a high grade gold system associated with the Macamic deformation zone, with intercepts including 29.00 g/t Au over 1.5 m and 10.31 g/t Au over 3.0 m including 17.90 g/t Au over 1.5 m, and also established the potential for wider low-grade zones, such as 1.23 g/t Au over 64.5 m (see press release dated January 15, 2013)."
Mr. Banks continued: "The objective of our current program is to gain an understanding of what is causing the Freegold South anomaly that has not yet been drill tested, and also to understand the relationship between this anomaly, the Trojan zone, and other areas of mineralization that have been historically documented along this trend that spans some 17 km, in a premier mining jurisdiction."
Thomas Hart, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the terms defined by National Instrument 43-101.