Northaven Resources Corp. Geophysical Surveys Underway
18.08.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Aug. 18, 2011) - Northaven Resources Corp. (TSX VENTURE: NTV) is pleased to announce that Geotech Limited of Aurora, Ontario, has commenced its helicopter airborne ZTEM survey of the Company's ALLCO property located approximately 27 km northeast of Revelstoke. With stable clear dry weather in the eastern BC Mountains, it is anticipated that 2-3 days will be required to complete the data acquisition phase of the program. After completing the computation of the acquired data, Geotech will forward the final data to NTV and to an independent consulting group for in-depth interpretation of the results.The Allco property forms part of the early Cambrian continental accretion sequence of northwest trending sedimentary and volcanic rocks that have been compressed, faulted and folded and subsequently intruded by later (Cretaceous) intermediate phase intrusives. Metamorphic actions have altered the rock sequence to metasediments and metavolcanics with apparent remobilization and emplacement of sulphide mineralization in the form of gold-bearing chalcopyrite, pyrrohotite and arsenopyrite and silver-bearing galena, sphalerite and tetrahedrite.
Within this northwest-trending rock sequence, a series of mixed strata-bound and vein mineralized occurrences can be traced for over 65 kilometers from the former Goldstream copper-gold mine at the northwest end to the former Stannex silver, zinc, tungsten mine at the southeast end. Approximately 15 kilometers of this band lay within the Company's 13,331 hectare Allco property, centered about the former Allco silver mine which in 1936-1937 produced 213 tonnes of concentrates containing 11 troz gold (1.55 g/t), 11,211 troz silver (1,637 g/t) and 173,159 lbs of lead (36.9%). 1988 sampling in the Allco silver mine area showed the mineralization to extend over an envelope 3,000 meters northwest-southeast, by 500 meters in width.
Mineralization on the J&L Property which lies approximately 8 kilometers northwest from the Allco property within the same band is reported by P&E Mining Consultants Inc., 16 May, 2011, as being comprised of a nearly tabular northwest-striking and northeast-sipping shear zone (the Main Zone) of approximately 2 to 16 meters thickness comprised of arsenopyrite, chalcopyrite, galena and sphalerite, containing a measured plus indicated resource of 2,367,700 metric tonnes grading 6.81 g/t gold, 66.95 g/t silver, 2.21% lead and 4.16% zinc, overprinting a pre-existing silver, lead, zinc deposit (the Yellow Jacket Zone).
NTV is focused on evaluation of geologically related gold and silver occurrences within the province of British Columbia that have the potential of aggregating more than one million troy ounces of gold or silver equivalents.
On behalf of the Board of Directors of NORTHAVEN RESOURCES CORP.
Malcolm B. Fraser
President
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond Northaven's control, and may cause actual results or performance to differ materially from those currently anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contact Information
Northaven Resources Corp.
Malcolm Fraser, President
604 696-3608
malcolm@northavenresources.com
Northaven Resources Corp.
Allen Leschert, CEO
604 696-3600
allen@northavenresources.com
www.northavenresources.com