15-20 min delay
White Rock, B.C. – Carlin Gold Corporation (TSX Venture, CGD), ("Carlin" or the "Company") has acquired, through claim staking, a strategically located property on the Cortez trend, Eureka County, Nevada.
The Company recently staked 85 lode claims (the Cortez Summit property) located between the Horse Canyon and Buckhorn mines, both former gold producers controlled by the Cortez Joint Venture (60% Barrick Gold, 40% Kennecott). The similar stratigraphic setting to Barrick's Horse Canyon deposit attracted the Company to the area. The Horse Canyon open pit is located approximately 1.5 miles southwest of the west edge of the new claims, and the Buckhorn open pit occurs approximately ½ mile northeast of the east edge of the new claims. The Horse Canyon mine produced gold ore between 1984 and 1993, however exact figures are unavailable because they are included in the overall Cortez Joint Venture production figures. The Buckhorn Mine produced 109,422 oz gold and 409,887 oz silver during the period 1988-1993. A 1993 geologic resource for the Buckhorn Mine was at 1.1 million tons grading 0.11 opt Au as reported in Nevada Bureau of Mines and Geology publications. Other notable projects in the area are the ET Blue discovery (Cortez JV), located approximately 1.4 miles south, and the Cortez Hills deposit (Cortez JV), approximately 4 miles west. Barrick’s 2006 annual report reported their 60% portion of proven and probable reserves at Cortez Hills at 5.1 million ounces gold.
The above mentioned gold projects in the vicinity of the new staked claims, except the Buckhorn Mine, are classic "Carlin-style," hosted in Paleozoic sedimentary rocks. The main target on the new Carlin claims is Carlin-style mineralization similar in nature to the nearby properties controlled by the Cortez Joint Venture. The Company has completed very limited select rock chip sampling. Gold values up to 0.447 g/t and anomalous Carlin-style pathfinder elements were encountered in this limited sampling. A surface exploration program comprising geological mapping with rock and soil geochemistry is planned for the project.
The Company assays were completed by ALS Chemex in Reno, Nevada using a standard 50 element ICP exploration package with the gold determined by fire assay preparation with an AA finish.
Carlin Gold Corporation is a junior resource company focused on gold exploration in Nevada. The Company currently controls eight properties in Nevada, including two joint venture projects with partners earning an interest.
Wayne Livingstone, President
Telephone: (604) 669-9970
Scientific and technical information in this news release has been reviewed by Robert Thomas, the Company's qualified person pursuant to National Instrument 43-101.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the information contained herein.
Certain disclosures in this release, including management's assessment of Carlin's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Carlin's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Carlin expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.