GoldTrain to Trade on Canadian National Stock Exchange and Announces Proposed Winter Exploration Programs
December 14 2009 - 8:41AM
Marketwired Canada
GoldTrain Resources Inc. (CNSX:GT) ("GoldTrain") is pleased to announce that
effective at the open of market on Monday December 14, 2009, GoldTrain's common
shares are scheduled to begin trading on the Canadian National Stock Exchange
("CNSX") under the trading symbol GT.
As part of the listing process, GoldTrain filed a CNSX Form 2A - Listing
Application (the "Form 2A") with the CNSX as well as other related CNSX forms.
The Form 2A contains prospectus level disclosure on GoldTrain and investors are
encouraged to review the Form 2A on the CNSX's website at http://www.cnsx.ca/ .
Brian Wright, President of GoldTrain, commented, "I am personally very pleased
that GoldTrain's shares have been listed on the Canadian National Stock
Exchange. For shareholders of both predecessor companies, Goldwright and Hall
Train, it is has been a very long process but finally we are at the stage where
our company can access capital markets to provide the funding to achieve our
goal of building a world-class mining company from the ground up, and to enable
me, personally, to follow the path of my mentors."
Planned Winter Exploration Programs
1. - Missinabie Gold Property
Following successful completion of a proposed flow-through financing, a minimum
800 meter drill program is planned to commence on the Missinabie Property in
early January to follow up on historical and recent surface sampling results
that include:
21.6 g/t (grams per metric tonne) gold (Au) over a channel length of 2.0 metres
18.47 g/t Au over a sample length of 3.66 metres
18.61 g/t Au over a sample length of 1.87 metres
12.51 g/t Au over a sample length of 2.74 metres
10.59 g/t Au over a channel length of 3.00 metres
GoldTrain's Missinabie Property consists of 5 unpatented mineral exploration
claims totalling 1248 Ha- located 3.5 km southeast of the past-producing Renabie
Gold Mine. Historical gold production from the Renabie Mine was 1,100,000 ounces
at an average grade of 0.20 oz/ton. Gold production summaries completed at the
end of 2008 indicate that this represents approximately 45 % of all of the gold
mined from the Wawa area. (Atkinson, B.T., Pace, A., Woo, H., Wilson, A.C.,
Butorac, S. and Draper, D.M. 2009. Report of Activities 2008, Resident Geologist
Program, Timmins Regional Resident Geologist Report: Timmins and Sault Ste.
Marie Districts; Ontario Geological Survey, Open File Report 6235, 109p.)
2. - Janes Township Copper/Nickel Property
A 9-hole diamond-drill exploration program totalling 826 meters was drilled on
GoldTrain's 75% owned Janes Property in December 2007. To date, the core from
these drill holes has not been logged or sampled. The core has been stored in a
secure location at GoldTrain's field office in Hagar, Ontario. This drill
program was designed to test for strike and down dip extensions as well as
infill drilling on previous drill programs completed by joint venture partners,
Pacific North Capital Corp. and Anglo American Platinum Corp.
Highlights of previous drill programs include:
15.05 metres assaying 0.85% Cu, 0.28% Ni, 2.28 g/t Pd, 0.33 g/t Pt and 0.19 g/t
Au and
14.01 metres assaying 0.84% Cu, 0.35% Ni, 2.08 g/t Pd, 0.33 g/t Pt and 0.28 g/t Au
Historical drill holes on the Janes property include 7.9 metres assaying 1.86 %
Cu, 1.51% Ni, 1.30 g/t Pd, 0.21 g/t Pt and 0.21 g/t Au at 172 metres vertical
depth. Significant drill results from Pacific North West Capital drill programs
are included in the table below.
----------------------------------------------------------------------------
Cu Ni Pd Au Pt
From To Interval (copper)(nickel)(palladium) (gold)(platinum)
Hole No. (m) (m) (%) (%) (%) (g/mt) (g/mt) (g/mt)
----------------------------------------------------------------------------
JR99-01 35.00 50.05 15.05 0.85 0.28 2.282 0.195 0.333
incl. 40.13 47.11 6.98 1.34 0.24 3.038 0.116 0.386
----------------------------------------------------------------------------
JR99-02 6.87 11.00 4.13 1.21 0.58 1.710 0.180 0.389
incl. 9.92 10.56 0.64 3.37 1.66 3.989 0.362 0.893
----------------------------------------------------------------------------
JR99-03 0.00 8.68 8.68 0.69 0.44 3.716 0.268 0.462
----------------------------------------------------------------------------
JR99-05 2.75 9.57 6.82 0.19 0.09 0.772 0.081 0.121
----------------------------------------------------------------------------
JR99-06 9.90 23.91 14.01 0.84 0.35 2.084 0.292 0.331
incl. 19.76 22.16 2.40 0.87 0.47 3.631 0.334 0.490
----------------------------------------------------------------------------
JR99-07 222.82 223.41 0.59 0.21 0.36 0.541 0.028 0
----------------------------------------------------------------------------
JR99-08 35.83 38.59 2.76 0.29 0.22 4.491 0.173 0.713
----------------------------------------------------------------------------
JR99-09 2.46 7.85 5.39 0.54 0.21 0.339 0.146 0.093
----------------------------------------------------------------------------
JR99-11 32.52 48.68 16.16 0.64 0.27 1.633 0.234 0.286
----------------------------------------------------------------------------
JR99-14 68.45 78.20 9.75 0.40 0.19 1.183 0.180 0.199
----------------------------------------------------------------------------
JR99-15 60.00 78.50 18.50 0.26 0.12 0.315 0.097 0.084
----------------------------------------------------------------------------
JR99-16 31.77 37.50 5.73 0.50 0.20 1.602 0.126 0.228
----------------------------------------------------------------------------
JR99-19 132.65 132.95 0.30 11.08 0.60 0.706 0.074 0.360
----------------------------------------------------------------------------
This proposed logging and sampling program is to begin immediately following
completion of GoldTrain's proposed flow-through financing, in which event,
results could be expected within a few weeks Once results are received from this
logging and sampling program, preliminary metallurgical test work would be
scheduled to be undertaken. The process to bring the key claims to lease and
permitting to process a proposed 10,000 tonne bulk sample from the property
would then be completed A compilation of all drilling and surface data and
further interpretation of geophysical data is to be completed to aid in future
drill programs planned for 2010.
All surface and diamond drilling programs were completed under the supervision
of Joerg Kleinboeck, B.Sc., P.Geo, GoldTrain's Qualified Person as defined by
National Instrument 43-101. Mr. Kleinboeck has reviewed and approved the
scientific and technical content of this news release.
Technical Reports (in accordance with NI 43-101) detailing the Chiniguchi River
Property (also known as the Janes Property) and the Missinabie Property are
available at www.sedar.com.
This news release contains or refers to forward-looking information. All
information other than statements of historical fact that address activities,
events or developments that GoldTrain believes, expects or anticipates will or
may occur in the future are forward-looking statements. These forward-looking
statements are subject to a variety of risks and uncertainties beyond
GoldTrain's ability to control or predict that may cause actual events or
results to differ materially from those discussed in such forward-looking
statements, including that results of the sampling or drilling programs or
metallurgical test work may not be positive or conclusive. Any forward-looking
statement speaks only as of the date on which it is made and, except as may be
required by applicable securities laws, GoldTrain disclaims any intent or
obligation to update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Although GoldTrain believes
that the assumptions inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance and
accordingly undue reliance should not be placed on these forward-looking
statements due to the inherent uncertainty therein.
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