VANCOUVER, BRITISH COLUMBIA, Jan 23, 2012 (MARKETWIRE via COMTEX) — Dawson Gold Corp. CA:DYU +9.09% (frankfurt:3DG) (“Dawson Gold” or the “Company”) announces that the results from the 2011 Quantec Geoscience Ltd. Titan 24 DCIP survey on the Company’s Toro Property, White Gold District, Yukon have been received and interpreted. The Titan 24 survey was completed to follow-up on geophysical, geological and geochemical anomalies on the Property identified by the Company in 2010.
Titan 24 Survey Highlights include:
— Titan 24 survey indentifies 24 Anomalies (medium to high chargeability
with associated low resistivities) over the survey area.
— 9 “First Priority” Quantec Geophsical Anomalies
— 5 “First Priority” anomalies define a single broad and strong
chargeability anomaly extending to and open to depth
— 15 “Second Priority” anomalies
Quantec Titan 24 Survey Details
In the Fall of 2011, over 30 days, the Company completed a 33.6 line kilometer surveyed and cut grid in advance of a 33.6 km Quantec Geophysics Titan-24 deep penetrating Induced Polarization ground-based geophysical survey.
A total of 14 North-South oriented lines spaced at 500 metres were surveyed using a pole-dipole spacing of 100 metres. The Titan 24 distributed acquisition system (DAS) employs a combination of multiplicity of sensors, 24-bit digital sampling and advanced signal processing. It provides three independent datasets capable of measuring subsurface resistivity (structure, alteration, lithology) and chargeability (mineralization) to depth. The geophysical program was designed to test the mineral potential of the Toro Property at depth and to define potentially mineralized structural targets within the 75 Ma Late Cretaceous Porphyry and the 103 Ma Mid Cretaceous Granodiorite intrusives on the Property.
“First Priority” Anomalies were defined by Quantec as those responses within 300 metres of surface, exhibiting medium to strong IP response (chargeability greater than 25 milliradians), co-located with medium to low DC resistivity response (rho less than 1,500 ohm-metre). These anomalies are interpreted by Quantec to be consistent with geological structures and could lead to potential mineralization.
“Second Priority” Anomalies were defined by Quantec as those responses within 420 metres of surface, exhibiting medium to weak IP response (chargeability less than 30 milliradians), co-located over or at contact with medium to low DC resistivity zones (rho less than 1,800 ohm-metre). These anomalies are interpreted by Quatec to be consistent with geological structures and could represent disseminated mineralization and/or alteration zones.
An in-house interpretation of the 2011 Quantec survey is on-going by Dawson Gold and the data will be used to focus the 2012 exploration program. Company Management considers the Quantec “First Priority” anomalies as excellent candidates for testing by diamond drilling, and intends to execute such a mineral exploration program early in the 2012 field season. The Toro 20 person camp is in place and the on tenure airstrip is open and usable which will afford the Company the ability to enter the Property early in the season and conduct an extensive diamond drilling program.
The Quantec Titan 24 System has proven to be a successful tool to define large porphyry systems and strongly mineralized structural trends in the Yukon, specifically upon the nearby Freegold Mountain Project of Northern Freegold Resources Ltd.
Additional 2011 Exploration Work on the Toro Property
Coincident with the Quantec survey, the Company constructed six kilometres of new trail construction and reactivated approximately 5 kilometres of old road access and undertook a trenching/sampling program to follow-up on high-priority anomalous gold-in-soil targets (defined by the 2010 Toro exploration campaign. Analytical results from the 2011 Toro exploration program have not yet been received however the sampling programs were designed to target mineralization demonstrated by historical trenching results from the Ridge Zone. These historical trenching results coincide with Dawson’s gold in soil “Anomaly C”, 0.55 g/t Au and 106.6 g/t Ag over 30 metres and “Anomaly B”, 37.8 metres averaging 0.46 g/t Au and 26.1 g/t Ag. In total, the Company completed 120 metres of trenching combined with sampling from the newly open trails lead to the collection and assay of over 240 rock samples. In addition to the road construction and trenching programs, a soil sampling program focused on in-fill and expansion of the 2010 gold-in-soil anomalies was completed in September 2011 and totalled over 320 collected and assayed samples.
2011 Yukon Exploration Property Acquisitions and Exploration
The Nansen Ace Claims were staked by Dawson Gold in the winter of 2011 and are located in the Mt. Nansen District, for a total of 228 claims constituting more than 4,500 hectares. The Nansen Ace Property lies approximately 60 kilometres south of the Toro Project and was staked to cover prospective gold exploration ground along structural strike and 7.5 kilometres to the northeast of the former Mt. Nansen Mine which hosted historical resources(i) of 254,251 tonnes grading over 12.5 g/t Au and 270 g/t Ag.
(i)NB. The Mt. Nansen property does not lie within the Nansen Ace property boundaries, but is presented to illustrate reported mineralization within the Mt. Nansen District. This style, grade and type of mineralization however is not necessarily indicative of mineralization on the Company’s property. All above information obtained from the Yukon Mineral Property Update (2008) and the Company has not independently verified the information presented above.
The King-Kong Project was also staked by Dawson Gold in the Winter of 2011. The King-Kong Project has two distinct claim blocks totalling 228 claims in the Mt Skukum/Wheaton River area. The King claims (King Project) comprise 104 claims totalling 2,268 hectares and include prospective mineralized vein systems which have been previously assayed at 62.1 g/t Au (source:Yukon MINFILE#105D 173). The King Project lies along the western flank of the Bennett Lake Volcanic complex, a huge Eocene caldera structure formed at the margin of the Coast Plutonic Complex. The Kong claims (Kong Project) consist of 124 full and partial Quartz Mining claims covering 2,470 hectares immediately south of the Tagish Lake Gold property of New Pacific Metals Corp. which hosts a measured and indicated resource(i) of greater than 1.5 million tonnes averaging 7.8 g/t Au and 130 g/t Ag. Neither the King, nor the Kong Property have previously been drilled.
(i)NB. The King and Kong Properties do not lie within the Tagish Lake Gold property boundaries, but is presented to illustrate reported mineralization within the Skukum District. This style, grade and type of mineralization however is not necessarily indicative of mineralization on the Company’s property. All above information obtained from the Yukon Mineral Property Update (2008) and the Company has not independently verified the information presented above.
Dawson conducted exploration programs on these newly acquired targets during the summer 2011 field season. Specifically, the King and Kong Projects saw the collection of 129 rock samples, 122 soil samples and seven stream sediment samples. The Nansen Ace Project 2011 program included the collection of 20 rock samples, 8 stream samples, and 2 soil samples. No analytical results have been returned from the laboratory and the Company awaits these results to plan further work programs.
The Company announces that Jim Coyne, has resigned from the board of directors of the company. The board of directors of Dawson Gold wishes to acknowledge the many contributions that Mr. Coyne has made to the Company, wants to thank him for his participation and wishes him every success in his future endeavours.
The Technical data contained in this news release has been reviewed and approved by Dawson Gold CEO Paul D. Gray, P.Geo., a qualified person under NI 43-101.
About Dawson Gold Corp.
Dawson Gold Corp. is a mineral exploration company, focused on the exploration and development of precious/base metals properties located in Yukon. The Company is based in Vancouver, and is supported by an aggressive management team with strong ties to the Yukon. Dawson’s cornerstone asset is the Toro Gold Property located in the southern end of the White Gold District, in the Dawson Range. The Toro Gold Project covers over 412 contiguous claims (approximately 8,300 hectares) of prospective ground. Dawson has an option to earn a 100% interest in the Toro Gold Property from Northern Freegold Resources Ltd.
On behalf of the Board of Directors
Paul D Gray, P.Geo., Chief Executive Officer
Dawson Gold Corp.
For additional information please visit the Company’s website at www.dawsongold.com .
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Dawson Gold Corp.
Paul D. Gray
Chief Executive Officer
Dawson Gold Corp.
Dawson Gold Corp.
SOURCE: Dawson Gold Corp.
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