VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/27/13 -- Entourage Metals Ltd. (TSX VENTURE: EMT) is pleased to report the results from initial surface sampling at its 100%-owned October Gold property. Previously, three coincident geochemical, geophysical and gold-in-till indicators were identified which warranted further work including the most recent surface sampling. Of the 251 grab samples collected, 10 samples ranging from 40 ppb to 9,230 ppb Au were identified. The highest grab sample, collected along a sub-parallel structure to the deformation zone, yielded 9.23 g/t Au was discovered within a highly-altered, quartz-carbonate, replacement zone measuring approximately 3.0 meters in width along a yet undetermined strike length. This historical occurrence was previously known as the Woman River Prospect.
Lithogeochemical sampling across the main deformational zone that transects the Property revealed intriguing anomalies including a well-defined, broad zone of albite alteration with an alkaline feldspar core through the center of the claim group. This alteration correlates well with the interpreted gravity breaks delineated by gravimetrics conducted in 2011 and suggests hydrothermal fluid movement along this deformation zone was significant--similar alteration halos near deformational zones are often found to be proximal to gold deposits. This defined alteration cell further enhances the validity of these various geochemical/geophysical anomalies as sites for gold deposition. In addition, pathfinder elements defined a fluid mixing boundary between oxidized fluids and reduced fluids within this alteration which also lends support for possible gold precipitation along this trend (Images of these relationships can be viewed at the Company's website www.entouragemetals.com).
Entourage's 203-square kilometer October Gold Property is located in the underexplored Southern Swayze Greenstone Belt near Benton Township, Ontario. Located within the Abitibi Greenstone Belt the property straddles a portion of the Ridout Deformation Zone, considered to be the western extension of the Cadillac-Larder Lake Deformation Zone (the Kirkland Lake Deposits and Kerr Addison-Chesterville gold deposits associated with the Cadillac-Larder Lake Deformation Zone have historic production exceeding 49 million ounces of gold). The Ridout Deformation Zone hosts recently discovered IAMGOLD's Cote Lake Gold Deposit (Indicated Resource of 3.56 million ounces of gold; and Inferred Resource of 4.66 million ounces of gold) (see IAMGOLD's Press Release 04-10-2012) and recently discovered Probe Mine's Borden Gold Deposit (Indicated Resource of 3.68 million ounces of gold; Inferred Resources of 625,000 ounces of gold)(see Probe Mines Press Release 01-15-2013). Entourage's claims are centered between the two recent discoveries; approximately 35 km northwest of the Cote Lake Deposit and 50 km southeast of the Borden Gold Deposit.
Option Agreements Amended
Entourage also reports that the cash payments required to be paid by the Company in 2013 under the Company's option agreements for its Valley Lake / Spruce Bay and Smoke Lake projects have been reduced. The cash payment required to be paid by December 31, 2013 under the Valley Lake / Spruce Bay option agreement has been reduced from $40,000 to approximately $7,795, in exchange for the issuance by the Company of 50,000 common shares.
The cash payment required to be paid by under the Black Raven option agreement has been reduced from $40,000 to $20,000, in exchange for the issuance by the Company of 125,000 common shares. The share issuances are subject to receipt by the Company of the approval of the TSX Venture Exchange.
Entourage's exploration activity is under the supervision of John C. Florek, P.Geo, Vice-President Exploration for Entourage Metals. Mr. Florek is a Qualified Persons as defined by NI 43-101. Mr. Florek prepared and approved the information contained in this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeff Sundar, President and Director
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.
Entourage Metals Ltd.
Manager, Investor Relations
Most Popular Stories
- Entrepreneurs Chase Social Media
- Schedule packed with talent at the Fox
- European Car Sales up First Time in 20 Months
- Austin musicians point to a variety of reasons to appreciate McCartney
- Manila's Hollywood Week
- Financial Times Twitter, Email Hacked
- Apple's iPhones, iPads Approved for Military Use, Sir Yes Sir!
- SINCE YOU ASKED [Pittsburgh Tribune-Review (PA)]
- Promoter McLean 'provided more musical joy than Dylan and Prince combined'