NORTH COUNTRY GOLD APPROVES SPRING DRILL PROGRAM
CDN $8 million, 12,000 metre program set to commence mid-March
February 7, 2012, Edmonton, Alberta – North Country Gold Corp. (NCG: TSX-V) (NCG or the “Company”) today announces board approval of a $8.0 million phase one spring drill program at the Three Bluffs Gold Project in the Committee Bay Greenstone Belt located northeast of Baker Lake, Nunavut, Canada. The program entails approximately 12,000 metres of diamond core drilling targeting resource expansion down-dip of the current high grade Three Bluffs deposit.
“The 2012 phase 1 drilling program is designed to continue to expand the Three Bluffs resource to depth following our successful 2011 drilling” said North Country’s President and CEO, John Williamson. “With the discovery of high grade shoots extending to depth along the 1.3 kilometre core Three Bluffs segment of the 4 kilometre Walker Lake trend, North Country is confident that the 2012 drilling will continue to rapidly build the resource inventory on the project.
The Three Bluffs gold project is a structurally controlled lode gold system hosted within oxide facies iron formation and greywackes. To date gold mineralization has been drill tested at shallow levels along a strike length of 4.1 kilometres. The deposit has been most extensively drilled over the eastern 1.3 kilometres of the trend where drilling has reached depths of 300 metres below surface with mineralization remaining strong and open to depth. The three deepest holes on the deposit (see Table 1, Figure 1) have all returned significant high grade intercepts. Geological modeling of the Three Bluffs gold system has identified several controls on high-grade mineralization including steep east plunging shoots and shallow east plunging fold hinges within iron formation. In 2010 NCG completed a Quantec Titan 24 geophysical survey over the Three Bluffs project which indicated that known gold zones at shallow to intermediate depths displays an excellent correlation with DC-resistivity lows. These resistivity lows extend to least 500 metres depth over much of the surveyed area, further supporting the potential to extend significant gold mineralization to depths beyond those drilled to date.
TABLE 1: HIGH-GRADE GOLD INTERCEPTS BELOW 250 M
Drill Hole |
From(m) |
To(m) |
Au (g/t) |
Length(m) |
Grade Thickness |
| 11AN042 |
308.00 |
319.00 |
4.35 |
10.00 |
43.50 |
| 11TB128* |
261.00 |
274.00 |
18.13 |
13.00 |
235.69 |
| 05TB038N** |
379.73 |
384.54 |
36.25 |
4.81 |
174.36 |
| 05TB038S** |
298.00 |
301.74 |
9.03 |
3.74 |
33.77 |
*Denotes holes highlighted in this release. **Denotes North and South limb zones intersected in Hole 05TB038.
The Phase 1, 2012 spring programat the Three Bluffs Project will entail approximately 12,000 metres of diamond core drilling specifically targeting depth extensions to high grade gold mineralized structures identified during the 2011 program with a component of the program designed to test for deep extensions to high grade mineralization indicated by the Titan 24 geophysical survey.
The program is scheduled to begin in mid-February with commissioning of the camp facilities and mobilization of equipment and supplies and drilling with five diamond core rigs is anticipated to commence mid-March.
Please click the link below to see Figure 1:
http://northcountrygold.com/_resources/NCG-NR---February-7-2012.jpg
About North Country Gold Corp.
North Country Gold Corp. controls one of the largest under-explored greenstone belts in Canada with numerous drill-ready high-grade gold targets. The gold-rich Committee Bay Greenstone Belt is located 180km northeast of the of Agnico Eagle’s Meadowbank gold mine. The Three Bluffs deposit is geologically comparable, with similar grades, type of mineralization and age as Meadowbank and Meliadine Gold deposits. The Company holds 100% interest in 530,630 acres along the 300km long belt and has identified 5 distinct mineral development centres, focusing in on the Three Bluffs deposit. The Company plans to release an updated gold resource incorporating 1994 to 2011 drilling during Q1, 2012.
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 - Standards of Disclosure for Mineral Projects. A detailed description of North Country Gold Corp.’s QA/QC program is provided on the Company’s website at www.northcountrygold.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
Corporate Secretary and Vice President of Corporate Development
Email: [email protected]
Tel: 604-697-2861
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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