NORTH COUNTRY GOLD CORP DISCOVERS HIGH GRADE GOLD AT HAYES
August 16, 2010, Edmonton, Alberta – North Country Gold Corp. (NCG: TSX-V)(NCG or the “Company”) today announces results from initial exploratory drilling at the Hayes area of the Three Bluffs Gold Project in the Committee Bay Greenstone Belt located northeast of Baker Lake, Nunavut, Canada. First time drilling has successfully identified high grade gold mineralization within the same stratigraphic package that hosts the Three Bluffs and Antler mineralization.
“The discovery of high grade gold at Hayes attests to the outstanding potential of the Three Bluffs area to become a significant gold resource” stated John Williamson, President and CEO of North Country Gold Corp, “North Country Gold has now demonstrated that the target stratigraphy of the Walker Lake Trend is mineralized over at least five kilometers of strike and remains open to the west”.
Four holes were drilled at the Hayes target on the Walker Lake Trend during the summer 2010 program. The Hayes target, located approximately 3.5 km from the western extent of the Three Bluffs Resource area, was tested by a pair of two hole fences spaced 120 m along strike. Holes 10HA003 and 10HA004 intersected mineralized iron formation and returned 6.30 g/t Au over 2.00 metres and 28.08 g/t Au over 3.70 metres respectively (16.48g/t Au over 3.7m with individual assays capped at 100g/t). The target horizon intersected by the initial two holes 10HA001 and 10HA002 was largely stoped out by localized late pegmatite dykes which appear to be crossing the trend at a shallow angle.
Ground and airborne magnetics have demonstrated that the prospective stratigraphy (Walker Lake Trend) continues at least 12 kilometers west of the Hayes high grade gold intersection. Previous surface sampling has identified anomalous gold results up to 5km west of the Hayes occurrence which indicates a potential to identify additional gold zones further to the west along the approximately 15 km long 'Walker Lake Trend'.
The Three Bluffs Gold Project 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) at the Three Bluffs Deposit which remains open to the west and to depth. The deposit occurs at the eastern end of a package of auriferous iron formation bearing supracrustral rocks (Walker Lake Trend) that has been traced at least five kilometers west which the 2010 drilling indicates may be continuously mineralized. North Country Gold Corp 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 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 Golds.Corp’s QA/QC program is provided on the Company’s website at www.northcountrygoldcom.
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.
/s/"John Williamson"
For more information on North Country Gold, please visit the company’s website: www.northcountrygold.com or contact:
Brian Budd 604.646.4525
Director of Corp. Development
Email: [email protected]
Tel: 604-646-4525
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.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address 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 from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com
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