International Wayside Gold Mines Ltd.: Three New Zones of Pyrite Gold Mineralization Discovered at Bonanza Ledge-New Drill Progr
November 16 2009 - 9:54AM
Marketwired Canada
International Wayside Gold Mines Ltd. ("Wayside", the "Company") (TSX
VENTURE:WYG)(FRANKFURT:IWUB) announced today that it has identified three new
zones of replacement style gold mineralization at its Bonanza Ledge gold project
and that a new drill program has been initiated. A full drill program is
currently being planned to incorporate recent results to delineate the new
zones.
Diamond drill hole BC09-14B, part of the 18 hole in-fill program at Bonanza
Ledge, hit 20.0 feet of 1.28 g/t replacement style gold mineralization between
471.0 feet and 491.0 feet below surface and underneath the proposed open pit at
Bonanza Ledge (summary in table below).
Hole MW09-01 hit two zones of Bonanza Ledge style pyrite replacement
mineralization approximately 290 meters southwest from the center of the
proposed gold mine in a rock sequence referred to as the Lowhee Unit. The two
replacement zones included 1.3 meters (4.4 feet) of 1.86 g/T (0.054 oz/t) gold
between 17.6 and 22 feet below surface, and 0.5 meters (1.5 feet) of 2.58 g/T
(0.075 oz/t) gold between 90.8 and 92.3 feet below surface (summary in table
below). MW09-01 was one of eight water monitoring holes drilled in preparation
to open pit mine the Bonanza Ledge gold deposit.
Company President and CEO J. Frank Callaghan stated, "Management and our
exploration team are very encouraged with the recent drill results. Hole BC09-12
was our best drill hole to date having an intercept 100 feet longer than any
other previous drill hole and the best grades to date. Furthermore, the Company
has discovered Bonanza Ledge style mineralization at depth and below the
proposed Bonanza Ledge open pit mine, as reported in both BC09-14B and BC09-16.
Both of these holes intersected gold mineralization 200 - 300 feet below the
original resource depth of approximately 250 feet, opening the exploration
potential at depth substantially. On October 7 the Company announced the
discovery of Bonanza Ledge style mineralization 2200 meters northwest of the
Bonanza Ledge Zone on Cow Mountain and the Company has now discovered the same
type of mineralization 290 meters southwest of the proposed Bonanza Ledge open
pit mine. An extensive exploration program is currently in planning for the
purpose of further extending and defining these new zones."
The recently completed infill diamond drill program in the Bonanza Ledge Zone
will upgrade its existing NI43-101 resource from an inferred to indicated
category. Company consultants Mintec Inc. is currently upgrading the resource
based on these results.
SUMMARY OF WEIGHTED SIGNIFICANT ASSAYS OF 2009 DRILL HOLES
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# Drill Hole From To Width Gold
--------------------------------------------------
Feet Feet g/T oz/t
----------------------------------------------------------------------
----------------------------------------------------------------------
1 BC09-14B 70.0 306.0 236.0 10.5 0.307
--------------------------------------------------
including
--------------------------------------------------
91.6 96.0 4.4 1.38 0.040
--------------------------------------------------
96.0 99.1 3.1 2.51 0.073
--------------------------------------------------
99.1 102.0 2.9 29.2 0.852
--------------------------------------------------
102.0 106.0 4.0 1.07 0.031
--------------------------------------------------
106.0 116.0 10.0 1.71 0.050
--------------------------------------------------
116.0 117.7 1.7 10.1 0.295
--------------------------------------------------
117.7 120.5 2.8 115 3.354
--------------------------------------------------
120.5 126.0 5.5 89.7 2.616
--------------------------------------------------
126.0 130.3 4.3 7.45 0.217
--------------------------------------------------
134.9 141.1 6.2 6.25 0.182
--------------------------------------------------
146.0 152.0 6.0 6.35 0.185
--------------------------------------------------
152.0 156.0 4.0 22 0.642
--------------------------------------------------
156.0 158.0 2.0 12.2 0.356
--------------------------------------------------
158.0 162.1 4.1 2.14 0.062
--------------------------------------------------
162.1 166.0 3.9 15.4 0.449
--------------------------------------------------
166.0 168.5 2.5 35.5 1.035
--------------------------------------------------
168.5 171.0 2.5 2.18 0.064
--------------------------------------------------
171.0 176.0 5.0 25.1 0.732
--------------------------------------------------
176.0 179.4 3.4 83.5 2.435
--------------------------------------------------
179.4 182.3 2.9 17.5 0.510
--------------------------------------------------
182.3 186.0 3.7 10.4 0.303
--------------------------------------------------
186.0 188.8 2.8 2.52 0.073
--------------------------------------------------
188.8 192.2 3.4 9.45 0.276
--------------------------------------------------
192.2 196.0 3.8 38.50 1.123
--------------------------------------------------
196.0 198.3 2.3 15.9 0.464
--------------------------------------------------
198.3 206.6 8.3 7.25 0.211
--------------------------------------------------
206.6 213.3 6.7 14.6 0.424
--------------------------------------------------
213.3 216.0 2.7 2.85 0.083
--------------------------------------------------
216.0 219.3 3.3 4.80 0.140
--------------------------------------------------
219.3 221.2 1.9 69.5 2.027
--------------------------------------------------
221.2 226.0 4.8 11.1 0.324
--------------------------------------------------
226.0 231.0 5.0 2.41 0.070
--------------------------------------------------
231.0 236.0 5.0 1.07 0.031
--------------------------------------------------
241.8 246.0 4.2 2.15 0.063
--------------------------------------------------
261.1 265.4 4.3 1.75 0.051
--------------------------------------------------
273.5 276.0 2.5 1.32 0.038
--------------------------------------------------
471.0 491.0 20.0 1.28 0.037
--------------------------------------------------
including
--------------------------------------------------
476.0 481.5 5.5 2.16 0.063
--------------------------------------------------
486.0 491.0 5.0 1.18 0.034
----------------------------------------------------------------------
2 MW01 17.6 22.0 4.4 1.86 0.054
--------------------------------------------------
90.8 92.3 1.5 2.58 0.075
--------------------------------------------------
103.0 107.4 4.4 0.78 0.023
----------------------------------------------------------------------
3 MW06 No significant assay
----------------------------------------------------------------------
4 MW07 34.5 51.4 16.9 1.27 0.037
--------------------------------------------------
including
--------------------------------------------------
44.7 48.3 3.6 4.75 0.139
--------------------------------------------------
114.8 144.5 29.7 1.76 0.051
--------------------------------------------------
including
--------------------------------------------------
114.8 117.2 2.4 3.48 0.101
--------------------------------------------------
117.2 120.7 3.5 6.21 0.181
--------------------------------------------------
136.0 144.5 8.5 2.21 0.064
--------------------------------------------------
166.0 170.8 4.8 0.31 0.009
--------------------------------------------------
175.2 186.0 10.8 1.21 0.035
--------------------------------------------------
including
--------------------------------------------------
175.2 177.0 1.8 4.55 0.133
--------------------------------------------------
204.0 216.0 12.0 0.19 0.006
----------------------------------------------------------------------
The technical information in this News Release has been reviewed and approved by
Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National
Instrument 43-101.
On Behalf of the Board of Directors
J. Frank Callaghan, President
This news release contains forward-looking statements regarding the timing and
content of upcoming programs. Actual results may differ materially from those
currently anticipated in such statements.
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