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CUSIF News Information Research Cusac Gold Mines Ltd,Stock Trading Message Board
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 21, 2005) - David H. Brett, President, Cusac Gold Mines Ltd. (TSX:CQC)(OTCBB:CUSIF) (the "Company"), reports that several encouraging new targets with bulk tonnage, disseminated gold potential have been outlined during Phase I of its Taurus II initiative at the Company's 100% owned Table Mountain Gold Property near Cassiar BC. The top priority target is a large zone of alteration and quartz veining where past trenching returned widespread gold values ranging up to 181 grams per ton in quartz and altered wall rock.
Phase I involved a detailed compilation, digitization and interpretation of the Company's large Taurus area data base created over 3 decades through work by various companies working in the Cassiar Gold Camp. The Company recently announced a flowthrough financing of up to $520,000 to fund the second phase of a planned three phase, $1.37 million program of exploration on Taurus II.(i)
The top priority target, named the Backyard System, a 500 by 150 meter area located 3.7km south east of the Taurus Project, was the site of an extensive trenching, mapping and sampling program carried out by Total Energold in 1987-88. The focus of Energold's program was to outline high-grade vein gold ore to supply the nearby 300TPD mill now owned by Cusac. Following up on widespread gold anomalies in soil, a trenching program outlined broad zones of gold bearing quartz veining and alteration grading up to 181 grams per tonne gold in chip samples, The anomalous grade of many of the samples is considered by the Company to be very encouraging. The gold mineralization is evident in the abundant narrow quartz veins in the trenches, as well as in alteration zones surrounding the veins. Total Energold closed its operation at Table Mountain in December of 1988 and no follow-up work was subsequently completed on this system. A series of drill holes are planned in the Backyard System to determine the potential of the zone.
The second priority target, called the Somerville System, a 500 by 100 meter area located approximately 200 meters from the Backyard System to the west, was also the site of extensive trenching by Energold that outlined abundant quartz veining and alteration zones with samples ranging between up to 190 grams per tonne gold. As with the nearby Backyard System, the mineralization outlined to date in the Somerville System was not amenable to small-scale high-grade mining, and no apparent attempt was made to evaluate the zone as a potential bulk tonnage gold target. A series of drill holes are planned to test this zone.
Located approximately 500 meters south east of the Backyard System is the Porcupine East target, the site of a 1982 drill hole that intersected 24 meters of mineralization where over 50% of the section graded between 1 and 9 grams per tonne. Diamond drilling is planned to test the Porcupine East zone, which is open along strike to the east and west.
The fourth target is the Newcoast, an area where significant historical drilling, trenching, soil geochemical, geophysical and geological mapping have discovered anomalous gold values. This area requires follow up. Phase II calls for control grid establishment and infill geochemical sampling to be followed by drilling in Phase III to test key zones.
Remaining priority targets include the Top Notch, NewCoast West, and the Van Argillite Cap. Phase II will include soil sampling, trenching and diamond drilling to test for large tonnage disseminated gold potential. The Van Argillite Cap covers a good portion of the favorable stratigraphic package for gold bearing systems in the Cassiar Gold Camp. A fence of drilling up to is planned in this area.
"The significant number of broad zones that indicate coincident anomalous soil and rock geochemistry as well as favorable gold bearing altered wall rock is highly encouraging," said Cusac VP of Exploration Lesley Hunt. "We have been able to use historical work program results to our advantage and it appears as though the data points to a number of excellent targets for bulk tonnage gold potential."
Cusac Outlines Strong Drill Targets at Taurus II
VANCOUVER, British Columbia
Cusac Gold Mines Ltd.
David H. Brett
President & CEO
1-800-670-6570 (Canada) or 1-800-665-5101 (USA)
info@cusac.com
www.cusac.com
David H. Brett, President, Cusac Gold Mines Ltd. (TSX:CQC)(OTCBB:CUSIF) (the "Company"), reports that several encouraging new targets with bulk tonnage, disseminated gold potential have been outlined during Phase I of its Taurus II initiative at the Company's 100% owned Table Mountain Gold Property near Cassiar BC. The top priority target is a large zone of alteration and quartz veining where past trenching returned widespread gold values ranging up to 181 grams per ton in quartz and altered wall rock.
Phase I involved a detailed compilation, digitization and interpretation of the Company's large Taurus area data base created over 3 decades through work by various companies working in the Cassiar Gold Camp. The Company recently announced a flowthrough financing of up to $520,000 to fund the second phase of a planned three phase, $1.37 million program of exploration on Taurus II.(i)
The top priority target, named the Backyard System, a 500 by 150 meter area located 3.7km south east of the Taurus Project, was the site of an extensive trenching, mapping and sampling program carried out by Total Energold in 1987-88. The focus of Energold's program was to outline high-grade vein gold ore to supply the nearby 300TPD mill now owned by Cusac. Following up on widespread gold anomalies in soil, a trenching program outlined broad zones of gold bearing quartz veining and alteration grading up to 181 grams per tonne gold in chip samples, The anomalous grade of many of the samples is considered by the Company to be very encouraging. The gold mineralization is evident in the abundant narrow quartz veins in the trenches, as well as in alteration zones surrounding the veins. Total Energold closed its operation at Table Mountain in December of 1988 and no follow-up work was subsequently completed on this system. A series of drill holes are planned in the Backyard System to determine the potential of the zone.
The second priority target, called the Somerville System, a 500 by 100 meter area located approximately 200 meters from the Backyard System to the west, was also the site of extensive trenching by Energold that outlined abundant quartz veining and alteration zones with samples ranging between up to 190 grams per tonne gold. As with the nearby Backyard System, the mineralization outlined to date in the Somerville System was not amenable to small-scale high-grade mining, and no apparent attempt was made to evaluate the zone as a potential bulk tonnage gold target. A series of drill holes are planned to test this zone.
Located approximately 500 meters south east of the Backyard System is the Porcupine East target, the site of a 1982 drill hole that intersected 24 meters of mineralization where over 50% of the section graded between 1 and 9 grams per tonne. Diamond drilling is planned to test the Porcupine East zone, which is open along strike to the east and west.
The fourth target is the Newcoast, an area where significant historical drilling, trenching, soil geochemical, geophysical and geological mapping have discovered anomalous gold values. This area requires follow up. Phase II calls for control grid establishment and infill geochemical sampling to be followed by drilling in Phase III to test key zones.
Remaining priority targets include the Top Notch, NewCoast West, and the Van Argillite Cap. Phase II will include soil sampling, trenching and diamond drilling to test for large tonnage disseminated gold potential. The Van Argillite Cap covers a good portion of the favorable stratigraphic package for gold bearing systems in the Cassiar Gold Camp. A fence of drilling up to is planned in this area.
"The significant number of broad zones that indicate coincident anomalous soil and rock geochemistry as well as favorable gold bearing altered wall rock is highly encouraging," said Cusac VP of Exploration Lesley Hunt. "We have been able to use historical work program results to our advantage and it appears as though the data points to a number of excellent targets for bulk tonnage gold potential."
Cusac Gold Mines Ltd. - Financing Arranged
VANCOUVER, June 13 /CNW/ - David H. Brett, President, Cusac Gold Mines
Ltd. (TSX: CQC. OTCBB: CUSIF, the "Company"), reports that the Company has
arranged non-brokered private placements of up to 4 million flow though units
at $0.13 per unit, subject to regulatory approval, to provide up to $520,000
for ongoing exploration on the Taurus II large scale gold target located on
the Company's 100% owned Table Mountain Gold Property near Cassiar in Northern
British Columbia. Each flowthrough unit will consist of one common share and
one half of one warrant to purchase a non-flowthrough share at a price of
$0.15 for a period of one year. A finder's fee of 10% payable in stock at
$0.13 per share may be payable on a portion of the financing.
CUSAC Announces Delay of Annual Meeting
VANCOUVER, June 1 /CNW/ - David H. Brett, President, Cusac Gold Mines
Ltd. (TSX: CQC. OTCBB: CUSIF, the "Company"), reports that as required by
Section 2.2 of National Instrument 54-101, please be advised that the Annual
and Special General Meeting for Cusac Gold Mines Ltd. (the "Issuer") scheduled
for June 27, 2005 has been postponed until July 27, 2005 due to other business
matters.
Cusac Reports Historical High Grade Drill Results and Exploration Plans for Taurus II Project
VANCOUVER, April 21 /CNW/ - David H. Brett, President, Cusac Gold Mines
Ltd. (TSX: CQC. OTCBB: CUSIF, the "Company"), reports that the Company has
developed, subject to financing, a $1.4M exploration program designed to test
new bulk-tonnage gold targets in the vicinity of the existing Taurus Gold
project near Cassiar in Northern BC. Previous drilling has identified both
high-grade gold intersections and wide zones of favorable alteration and gold
mineralization. Drilling in this area by a previous operator in 1979-1980
intersected quartz veins grading up to 7.5 oz/t over 0.3 meters. Drilling by
Cusac in 1995 intersected 1.7 oz/t over 0.2 meters and 3.7 oz/t over 0.1
meters. Broad zones of strong gold geochemistry at surface were drilled in
1980 and returned over 75 meters of highly pyritized volcanics that returned
low gold values. At that time, large tonnage disseminated gold deposits were
overlooked. The 2005 Taurus II budget is a three-phased program starting with
a compilation and digitization of all current data, followed by two phases of
drilling totaling 5,200 meters.
Taurus II is a project designed to explore claims owned 100% by Cusac to
the south of the Taurus Gold Project, where the geology and previous
exploration indicates the possibility of a large-tonnage, disseminated gold
deposit. The Taurus Project is a disseminated gold prospect that lies on the
Company's Table Mountain property as well as claims owned by American Bonanza
Gold Corp. (a claim map showing the deposit can be found at www.cusac.com).
Cyprus Canada completed significant exploration on the Taurus Project in the
mid 1990s and calculated an "inferred, geological, uncut and undiluted
resource" of 28.4 million tonnes grading 1.36 grams of gold per tonne (see
cautionary note(x)).
"The Taurus II project is located in a vastly under explored area with
excellent geological evidence indicating potential for a combination - high
grade vein gold and lower grade, large tonnage disseminated gold deposit,"
said Cusac VP of Exploration Lesley Hunt.
((x)Note: This data is historical in nature and was compiled before the
implementation of National Instrument 43-101 reporting standards. Investors
are cautioned that recent independent verification of the data has not been
performed and the Company has not completed sufficient exploration to verify
the historical resource and reserve estimates. The Company is not treating the
historical estimates as National Instrument defined resources or reserves
verified by a qualified person and the historical estimate should not be
relied upon.)
CUSAC GOLD MINES LTD.
PER:
David H. Brett
President & CEO
The TSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
-0- 04/21/2005
/For further information: Call: 1-800-670-6570 (Canada), or
1-800-665-5101 (USA), Email: info(at)cusac.com, Web: www.cusac.com/
(CQC. CUSIF)
CO: Cusac Gold Mines Ltd.
ST: British Columbia
IN: MNG OTC
SU: DSC
-30-
