VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/29/13 -- Expedition Mining Inc. (TSX VENTURE: EXU) (the "Company") is pleased to provide this update on the 2013 exploration programs within the Walker Lane Mineral Belt.
LONG CANYON PROPERTY
Expedition wishes to announce that with the posting of a reclamation bond with the Nevada BLM office, the permitting process for the mechanical trenching program on the Long Canyon property has been completed. The Company is finalizing the work program and expects to begin work within the next 30 days.
This property consists of 37 unpatented lode claims located 200 kms southeast of Reno and 16 kms southeast of the community of Mina, Nevada. Previous rock sampling has returned gold values up to 1.7 g/t over 3 m, and up to 9.7 g/t gold and 529 g/t silver in grab samples. The property hosts an extensive siliceous zone containing strongly anomalous mercury (to 155,000 ppm), antimony (to 987 ppm) and arsenic (to 2,790 ppm) values.
Mapping has identified several structural trends associated with multi-element soil anomalies. These structural zones trend dominantly north-northeast and northwest, and intersect beneath the extensive siliceous zone which occupies the central portion of the property. The north-northeast trend is characterized by swarms of narrow quartz veins with a general northerly orientation and subvertical dip. These veins range from less than 1cm to greater than 1m in thickness. At least two of these NNE zones have been identified to date. Veins within the NW trending zone show a greater variation in dip attitude from -45 to vertical, and are generally oriented sub-parallel to the northwest trending Walker Lane belt.
Structurally the Long Canyon project area is dominated by strands of the Walker Lane Fault Zone. Arcuate splays from the main faults trend east-west across the property and are exposed in many of the drainages. The northerly trending structures extend through the Pilot Mountains to the north, and are covered by pediment fans to the south. The intersections of these structural zones are believed to be important localizing features for the mineralization encountered at the Bellville Mine and the deposits in the Douglas Camp to the west.
Rock sampling in early 2013 confirmed the values reported by earlier sampling and includes up to 1.16 g/t gold over 5m within a northwest trending shear zone. Compilation of the mapping, geophysical and geochemical data was completed while waiting for the trenching permit. This work confirmed that the anomalous geochemistry is predominantly associated with the structural zones, the intersection of which are co-incident with the IP targets generated by the historical survey.
The Long Canyon project is situated in southeastern Mineral County and is flanked by several well known historical mining districts. The Pilot Mountains to the north have a long history of mercury production, followed by tungsten mining along the eastern edge of the range. The former producing Belleville Mine 8 kms north of Long Canyon reportedly produced around 100,000 oz to 1939 from 2 quartz veins.
To the west the Douglas Camp area was dominantly a gold and silver camp which also contained abundant scheelite and produced over $1,000,000 of tungsten during and after WW1.
To the southwest the Candelaria District was known for high grade silver deposits which averaged 60 oz/ton in the early days of mining. By 1999 over 68 million ounces of silver had been extracted from the mines in this district.
Expedition's disclosure of a technical or scientific nature in this press release has been reviewed and approved by James Chapman, P.Geo, who serves as a qualified person under the definition of National Instrument 43-101.
Expedition Mining Inc. (TSX VENTURE: EXU) is a publicly held Canadian exploration company focused on acquiring, exploring and developing gold properties located in favourable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies. For additional information concerning Expedition Mining Inc. or its various exploration projects please visit Expedition's website at www.expeditionmining.com.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Expedition Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the properties, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold. Although Expedition Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Expedition Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
ON BEHALF OF THE BOARD:
Ronald Atlas, President & Chairman of the Board
Expedition Mining Inc.
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.
Standard & Poor's Listed
Issued Share Capital: 58,236,789
Expedition Mining Inc.
(604) 662-3903, ext 106
Most Popular Stories
- Neighbor Warns Chris Brown to Stay Off His Property
- Venezuelan Officials Banned From Traveling in U.S.
- Homeowners More Satisfied With Mortgage Servicers
- WWE Showing Off Its Muscles
- As Jobs Market Strengthens, Many Don't Feel It
- Ford Tremor: Easy to Park, Hard to Pay For
- Adrienne Bailon Disses Ex-Lover Rob Kardashian
- Target Taps Pepsi Exec as New CEO
- Hispanic Arts Leaders Unite Across the Border
- Islamic State Fights for Control of Syrian Oil Wealth