VANCOUVER, BRITISH COLUMBIA, Nov 16, 2011 (MARKETWIRE via COMTEX) — Choice Gold Corp. (cnsx:CHF) (“Choice Gold” or the “Company”) is pleased to report the latest results of the phase 1A drilling campaign completed in October at its Sugarloaf Peak Gold Project in western Arizona. Diamond drill hole SGL-11-03 returned several anomalous gold intervals allowing the calculation of 3 main mineralized zones as presented in the following table. Diamond drill hole SLP-09-02, which was drilled in 2009 by Riverside Resources but not assayed until the recently completed continuous sampling, returned 11.4 meters of 0.73 g/t gold starting from 6.25 meters of depth in oxidized material and validated another area of gold mineralization.
The new drill intercepts, building upon earlier results from Choice Gold’s program, include the following:
Hole No. Interval (m) Apparent Thickness (m) Grade (g/t Au)
SGL-11-03 118.78 to 129.42 10.64 0.441
SGL-11-03 145.73 to 160.06 14.33 0.352
SGL-11-03 169.02 to 178.66 9.63 0.407
SLP-09-02 6.25 to 17.68 11.42 0.730
Only a small portion of the property (0.3 km2 of the 24 km2) was drill tested in phase 1A. Several new targets have been established for further evaluation based on surficial gold anomalies, extensive silica-sericite-pyrite alteration distribution, structural data, aeromagnetic study and Titan 24 survey interpretation. The lateral extension of the higher-grade mineralization intersected in SGL-11-04 (1.76 g/t gold over 9.91 meters reported by Choice on October 6, 2011) will be one of the objectives of follow-up drilling work. Results of the most recent mapping program in areas not previously sampled are still pending and could likely add a number of drill targets.
“We’re encouraged by the results of our phase 1A drilling, which was designed to test for anomalous gold areas outside of the historically known mineralized zone at Sugarloaf Peak and at depths beneath any previous gold assay data,” said Gianni Kovacevic, Choice Gold’s CEO. “All drill holes have intersected thick anomalous intervals in excess of 100 ppb gold, which demonstrates the vast scale of the mineralizing system we’re in after having tested only a fraction of the anomalous areas.”
A total of 6 diamond drill holes were completed for a total of 2,012 meters. 1,561 samples were collected with 500 samples (32%) returning a value better or equivalent to 100 ppb Au. In addition, 68 new samples were collected from the Riverside 2009 SLP-09-02 core to achieve the continuous sampling. 10% of the sampling is represented by the quality control samples. Failure of a standard or a blank would prompt reanalysis of a selection of samples in the same series. The field duplicates show very little variation in the gold grade implying a homogenous mineralisation with a low nugget effect. Choice Gold’s previous press release of October 6, 2011 describes the Company’s sampling procedures, lab and analytical methods.
Brigitte Dejou, P.Eng., Choice Gold’s Manager of Exploration, is the non-independent, Qualified Person, responsible for the technical information reported herein.
About Choice Gold Corp.:
Choice Gold Corp. was created to acquire and advance select high-potential mineral projects and thereby unlock shareholder value. With this goal in mind, the company has entered an option agreement with Riverside Resources Inc. /quotes/zigman/478675 CA:RRI -4.71% to acquire a 100% interest in the Sugarloaf Peak Gold Project just west of Quartzsite, Arizona. Sugarloaf Peak covers over 24 km2 and was the subject of intermittent drilling and small-scale mining from the 1950s through to the 1990s. For more information about Choice Gold please visit our website at www.choicegoldcorp.com .
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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Choice Gold Corp.
SOURCE: Choice Gold Corp.