Oct 4 2016
Parlane Resource Corp. ("Parlane" or the "Company") began exploration in August on its newly acquired 12,968-hectare claim block (see news release of August 2, 2016), situated immediately to the north and adjacent to its original Big Bear property. This increases the property size of the Big Bear to 27,335 hectares (273 square kilometres). An undocumented mineralized occurrence was recently discovered by Parlane in the northern region of the new acquisition.
Parlane crews began sampling and mapping a mineral occurrence discovered in 2012 by the previous owner of the new claim block (BC Geological Survey Assessment Report 33750). The initial 2012 sampling at this showing (the "Old Crow") had produced assays up to 1.5 g/t gold, 85.7 g/t silver and greater than 1% zinc (over-limit for analysis method). Samples collected last month by Parlane, from mineralized quartz veins, yielded up to 1.7 g/t gold, 39 g/t silver, 1.7% zinc and 2.1% lead.
Another undocumented mineralized vein was discovered by Parlane 2.1 kilometres north of the Old Crow showing, which the Company has now named "The Cub". The Cub yielded 10.1 g/t gold, 13.8 g/t silver, 0.5% zinc. Both mineral occurrences are at the earliest stages of exploration and present excellent targets for continuing field work into the fall.
In addition to the work at the Old Crow and The Cub, Parlane continues exploration at the Black Bear which it discovered and drilled in 2012 (see Parlane news release Jan. 18, 2013). Soil sampling in the area is designed to target additional drill locations planned for later in 2016.
Parlane's 273-square kilometre Big Bear mineral claim position is located immediately north of, and adjacent to New Gold Inc.'s Blackwater deposit and east of New Gold's Capoose developed prospect. The Blackwater has proven and probable reserves containing 8.2 million ounces of gold and 60.8 million ounces of silver (www.newgold.com). The Capoose has an indicated resource containing 0.3 million ounces of gold and 12.5 million ounces of silver (www.newgold.com).
Ian Webster P.Geo. is the Qualified Person, as defined by National Instrument 43-101, who has reviewed and approved the technical contents of this release.
ON BEHALF OF THE BOARD
Robert Eadie, President, Chief Executive Officer and Director