EDMONTON, ALBERTA–(Marketwire – Oct. 28, 2010) – North Country Gold Corp. (TSX VENTURE:NCG) (NCG or the “Company”) today announced the results from a Titan-24 deep earth imaging induced polarization survey conducted at its Three Bluffs gold project at the Committee Bay Greenstone Belt located northeast of Baker Lake, Nunavut, Canada. The geophysical technique has demonstrated that the known mineralization can be located in three dimensions, and has identified significant untested targets within the surveyed area.
“The Titan-24 survey conducted at Three Bluffs this last season has been an outstanding success” stated John Williamson, President and CEO of North Country Gold Corp., “The survey clearly identifies the historic Three Bluffs resource, and new mineralization discovered this year at Antler and the Three Bluffs West also are precisely located by the geophysical tool. The most exceptional aspect of the survey is the presence of numerous untested anomalies that are identical in character to those corresponding to our strongest known mineralized zones,” added Mr. Williamson.
The 2010 Titan-24 DC/IP survey was conducted by Quantec Geoscience Ltd. over the Three Bluffs project area and covered 4.5 kilometres of the Walker Lake Trend from east of Three Bluffs to the Hayes occurrence area. The survey was conducted with a 425 metre line spacing on 12 lines totaling 18.9 line kilometres of data acquisition.
The Quantec Titan-24 DC/IP is a high resolution electrical method that uses the injection of current and the measurement of voltage difference along with its rate of decay to determine the subsurface resistivity and chargeability. The exploration objective of the survey at Three Bluffs was to test the response of the system over known mineralization, and to identify any additional conductive zones or “blind” conductors in the Three Bluffs project area.
Interpretation of the survey results by Quantec Geoscience Ltd. conclude that at the Three Bluffs Project, the Titan‐24 survey has successfully identified at least five geophysical anomalies (Targets) T_1 to T_5 in the DC Resistivity and IP Chargeability raw data and inversion models with potential for poly-metallic mineralization from near surface to approximately the survey limits of 500 metres depth. The DC‐IP model interpretation and target prioritization was mainly based on the anomaly amplitude, extent and multi‐parameter association. The interpreted targets are essentially target horizons which extend throughout the 4.5 kilometres of the surveyed area. Of the five targets identified by Quantec, three are considered high priority.
North Country Gold Corp. plans on systematically testing the newly generated geophysical targets as part of the 2011 exploration and development program currently being planned for Three Bluffs which is anticipated to begin in April 2011.
To view the map accompanying this release please click on the following link: http://northcountrygold.com/_resources/2010_3BlfResource_PR_Quantec_v2.jpg
The Three Bluffs deposit currently hosts an indicated resource of 508,000 ounces (2,700,000 tones at 5.85 g/t Au) and an additional inferred resource of 244,000 ounces (1,270,000 tones at 5.98 g/t Au). The Three Bluffs deposit occurs at the eastern end of a package of auriferous iron formation bearing supracrustral rocks (Walker Lake Trend) along which North Country Gold Corp is focusing exploration and has conducted drilling in three key areas over a 4.1 kilometer segment of the trend during 2010; Three Bluffs, Antler, and Hayes. NCG believes that significant potential exists along the Walker Lake trend and has developed a strategy to indentify additional near-surface open-pittable gold resources along the strike length of the trend, which will incrementally add to the existing high-grade resource inventory underpinned by the Three Bluffs Deposit.
North Country Gold Corp. controls one of the largest under explored greenstone belts within Canada, and has numerous drill-ready high-grade gold targets, in addition to those at Three Bluffs. The gold-rich Committee Bay Greenstone Belt is located approximately 300 kilometers north of Baker Lake within Nunavut Territory, Canada. North Country Gold Corp. is currently the 100% beneficial owner of the mineral rights to approximately 557,323 acres (225,569 hectares) of land comprising 216 active mineral claims and 14 mineral leases.
North Country Gold Corp. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Peter Kleespies, M.Sc., P. Geol. who is the Qualified Person as defined by NI 43-101. A detailed description of North Country Gold Corp.’s QA/QC program is provided on the Company’s website at www.northcountrygold.com or m.northcountrygold.com on your mobile phone.
North Country Gold Corp. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.
On behalf of the Board
North Country Gold Corp. John Williamson, P.Geol President and CEO
This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially form those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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