Message #2 From:
NewsBot Date: February 10, 2008 08:29:45 PM
Firstgold Reports Results From Ongoing Relief Canyon Drill Program
Firstgold Corp. (OTCBB: FGOC) announces
new results from its current Relief Canyon drilling program. "Of the 120
holes currently permitted, 76 reverse circulation drill holes, totaling
20,073 feet, have been completed. Fire assays have been returned from
ALS-Chemex for the first 72 of these holes. Both the initial drill results
reported on November 19th of last year and these today are representative
of a shallow drilling program designed to augment many of the historic
drill holes previously completed in the open pit area. The historic holes
were greater than 5 years old and a significant percentage of these needed
to be twinned to enable our consultant SRK to conduct a technical review.
This program is now substantially completed and we would expect a technical
report from SRK by the end of February," commented Firstgold CEO Steve
Akerfeldt.
The second stage of the drilling program involves the testing of deeper
targets within the pit and outside the pit to the northwest in the pediment
area. To date 7 holes have been completed on this portion of the program
totaling 6,213 feet. Results have been received for 3 of these holes,
listed in the Table below as RCM07-38, 39 and 72. Three mineralized zones
have been intersected on RCM07-72. The highest grade zone consists of 125
feet of 0.08 oz/ton (38.1 meters of 2.49 grams per ton), the thickest
section measures 135 feet of 0.04 oz/ton (44.2 meter of 1.26 grams per ton)
and the lowermost contains 45 feet of 0.020 oz/ton (13.7m of 0.686 grams
per ton). RCM07-72 was drilled to a total depth of 758ft (231.2 m) and
encountered mineralization in a sequence of interbedded silty and micaceous
limestone and carbonaceous siltstone that occurs immediately below the
thick limestone unit that is host to the mineralized breccias exploited in
the Relief Canyon Mine area proper. The mineralization is associated with
several quartz vein structures with locally extensive wallrock
silicification. The trend of the mineralization is unknown. It is
uncertain if further exploration will result in a mineral resource being
delineated. Drilling in this area is currently being conducted.
Using a 0.010 ounce per ton cut off, a minimum 10 feet interval thickness,
and allowing a maximum contiguous internal dilution of 5 feet, the results
for the holes 35 through 72 reverse circulation drill holes from ALS-Chemex
assays (fire assay/AA finish) are as follows:
