Oct 21 2010
Augen Gold Corp. (TSX VENTURE:GLD) has announced that it has identified new prospective target areas at the southeast end of its South Swayze property, just 200 metres northwest of a recent discovery at Coté Lake and more than 25 kilometres southeast of existing targets near the historical Jerome Mine and north of Opeepeesway Lake.
"This new area seems to be at least the size of our newly defined target north of Opeepeesway Lake, although it has a distinctly different shape and geology," said J. David Mason, CEO of Augen Gold Corp. "Given the proximity of this finding to Trelawney's recent discovery at Coté Lake, the Company sees the potential to significantly expand the expected gold tonnage of its South Swayze property. Actlabs rates this anomaly quite highly, and comparable to that discovered over Opeepeesway Lake last Spring."
Using Soil Gas Hydrocarbon (SGH) mapping that tests surficial samples for chemical characteristics indicating mineral deposits, the Company sees the anomalous areas trending 1.6 kilometres in a northeasterly direction, and 1.3 kilometres north-south. The SGH mapping shows this area to be of high potential, and several excellent drill targets have been identified.
The Company's current exploration program started in late September of 2009. To date, approximately 350 line kilometres have been cut, approximately 300 line kilometres have been surveyed with geophysical methods and 80 drill holes totalling over 12,000 metres have been completed. This program includes both recently detailed exploration north of Opeepeesway Lake and this initiative at the eastern end of the South Swayze Property adjacent to Trelawney Mining and Exploration Inc.'s promising new gold discovery.
The information contained in this news release has been prepared by Augen Gold's Project Geologist, Gordon McRoberts, P.Geo., who is a Qualified Person for the Company's Jerome Project under the definitions established by National Instrument 43-101. The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource.