Entourage Metals expands Land Position in Hemlo Greenstone Belt
These properties comprise 10.4 km2 consisting of 65 mining claim units. The Valley Lake and Spruce Bay Properties are located near the north margin of the eastern portion of the Schreiber-Hemlo greenstone belt in northern Ontario, 220 km east-northeast of the city of Thunder Bay.
These properties form part of the Northern Arm Property, which is an underexplored mineralized trend in the Hemlo Greenstone Belt. Similar rock types occur along this trend and are analogous to Hemlo Mines. Rock types at the Northern Arm Property are analogous to Barrick’s Hemlo Gold Mine, located approximately 15 km to the south. The property is accessible by logging roads or lakes which connect to paved roads.
Both the Spruce Bay and Valley Lake Property connect to the 100% owned Entourage Metal’s property, thus providing a continuous land package for exploration. These properties have both potential for shear zone hosted gold deposits and base metal deposits (volcanogenic massive sulfide deposits).
Historical exploration on the Valley Lake Property has identified several areas of mineralization. A recent grab sample, collected by an Ontario Government District Geologist, returned 1.24 oz/ton (38.5 g/t) Au on the Valley Lake Property in a historic trench. Previously, only high base metal values were obtained in the trenches; two narrow mineralized zones within sericite schist assayed up to 10.7% Zn, 8.9 % Pb, and 85.7 g/t Ag. This gold occurrence is significant since previous explorers identified mafic volcanic float that was found within 0.5 km of the claim group, which yielded 16.2 g/t Au. This also suggests that gold mineralization found on our property could be related to this nearby gold-rich float
Historical exploration on the Spruce Bay Properties delineated mineralized sheared sedimentary, mafic, and ultramafic rocks that contained elevated values of gold and base metals (6.85 g/t Au; Assessment Report: 42C13SE0062).
These new acquisitions compliment Entourage’s growing land position in underexplored regions of the Hemlo greenstone belt. The Company is commencing additional surface mapping and sampling to refine drill targets on the Northern Arm Property.
Upon approval to the TSX Venture exchange, Entourage Metals can earn a 100% interest in the property by paying CAD$265,000 in cash ($15,000 first year) and issuing 385,000 shares (15,000 first year) over five years. Upon commencement of commercial production, Entourage Metals would pay a 2% Net Smelter Return Royalty (NSR) with the option to purchase one-half of the NSR (1.0% NSR) for CAD$500,000 at any time.
Mr. Florek has been unable to physically verify the sampling and analytical results contained in this press release. The data disclosed will be tested by Entourage’s Phase I program which will comprehensively assess these gold occurrences. The objective of Entourage’s proposed exploration is to fully define the surface extent and tenor of the high grade gold mineralization with mapping, rock/soil sampling, and geophysical surveys and then to test depth potential with drilling.
The 2011 exploration program is under the supervision of John C. Florek, P.Geo, Vice-President Exploration for Entourage Metals. Mr. Florek is Qualified Person as defined by NI 43-101. Mr. Florek prepared and approved the information contained in this release.
Entourage Metals has retained Michael Martinz as an investor relations consultant to provide investor and broker liason and to increase awareness of Entourage within the investment community. Mr. Martinz brings over twelve years of sales and business development experience to Entourage Metals.
The Company has granted 155,000 stock options at a price of $0.70 to employees and consultants. The options are exercisable for a period of ten years from the date of grant.
Entourage Metals has active mineral projects in the Hemlo Greenstone Belt. Geophysics is now underway for the season on the Hemlo Belt Properties. Details on Entourage Metals portfolio can be reviewed at the Company’s website at www.entouragemetals.com.
