CANOE MINING INTERSECTS GOLD VALUES AT IRON LAKE GOLD PROJECT
FROM: Canoe Mining Ventures Corp.
OAKVILLE, ON – Canoe Mining Ventures Corp. (TSXV: CLV)(“Canoe Mining”) announces the results from its 10 hole (1301m) drill program targeting the Abbie Lake section of Canoe Mining’s 100% owned Iron Lake Gold Project. A summary of the significant gold values from this drill program is displayed below:
Hole AL14-01 – 7.3 g/tonne Au over 1m – from 131.75m to 132.75m
Hole AL14-02 – 3.125 g/tonne Au over 2.5m – from 86.5m to 89m
Hole AL14-06 – 3.121 g/tonne Au over 5m – from 40.0m to 45m
Canoe Mining obtained assay results of similar geology and grade to those outlined at the Wesdome Gold Mines Ltd. Mishi gold deposit which is located 11km to the southwest of the Iron Lake Gold Project. A table containing significant individual assays is displayed below:
All assay results are uncut. All the assay results and sub-intervals summarized in the table above have a bottom cut-off of 0.05 g/tonne of gold. Average grades presented are shown as weighted averages. True width is estimated to be 66 % of the sample width.
A drill-hole location map can be found on the Canoe Mining website by visitingwww.canoemining.com/projects.
The gold mineralization at the Iron Lake Gold Project is hosted within and on the margin of quartz veins enclosed in sheared Temiskaming type sediments (meta conglomerates, sheared tuffs, and sediments) as well as in adjoining mafic volcanic units where iron carbonate alteration occurs. Some gold bearing veins contain black tourmaline, which is also the case at the Mishi gold deposit, and this suggests that the gold bearing fluids passed through sediments prior to deposition.
Canoe Mining has implemented a quality control (QA/QC) program that includes insertion of blanks, commercial standards, and duplicate core samples in order to ensure best practice in sampling and analysis. The assaying of all samples was completed at the AGAT laboratory in Mississauga, Ontario, after preparation in Thunder Bay, Ontario. Inductively coupled plasma mass spectrometry (ICP-MS) was used to determine trace element pathfinders and gold from a 1 gram sample. As part of in-house QA/QC, certified gold standards and blanks are inserted every 50m.
The technical information in this news release was reviewed and approved by R.S. Middleton, P.Eng. who is acting as the Qualified Person for Canoe Mining pursuant to National Instrument 43-101. Mr. Middleton supervised this drill program and has recommended further IP surveys, drilling, and trenching.
Additional information and corporate documents may be found onwww.sedar.com and on the Canoe Mining website.
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 news release.
