North American Gold Inc.: Gravity Survey Identifies
Potential Extension to Norra Massive Sulphide Target
NAU
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jun 28, 2004) - North
American Gold Inc. is pleased to announce that a gravity survey
on the Norra massive sulphide project in northern Sweden has
identified a number of highly significant anomalies which may
represent buried massive sulphide lenses.
The Norra property is located in the well-known Skelleftea VMS
district of northern Sweden which hosts the Boliden deposit.
Boliden produced 4,000,000 ounces of gold at an average grade of
15 g/t gold. Norra is contiguous with the Barsele property. Both
are held under option from Minmet plc, whereby North American has
the right to acquire a 60% interest in both of the properties.
The exploration target on both properties is gold-rich,
Boliden-style volcanogenic massive sulfide mineralization.
Diamond drilling at Norra in 2003 returned 8 meters grading 11.02
g/t gold, 91.0 g/t silver, 3.5% copper, and 3.7% zinc. The zone
is open at depth and along a northwest strike in an area of
extensive glacial till cover.
The gravity survey was carried out by Boliden Mineral AB,
acknowledged experts on the geophysical characteristics of
Skelleftea VMS mineralization. A total of seven lines were
gravity surveyed to test for mass anomalies potentially
associated with known VMS mineralization. Three lines being
completed over the known occurrence for orientation, and four
lines completed over areas of previously identified EM and
magnetic anomalies coincident with favorable stratigraphy on
strike with known mineralization.
Bouguer anomalies exceeding 3 mgal were identified 100 meters
south and 100 meters northwest of known mineralization, in areas
of no prior drilling. The anomaly to the northwest is on the
strike projection of known mineralization.
Three lines (1700, 1900, and 2100W) were completed 1,000 meters
to the northwest of the Norra zone in an area of favorable
stratigraphy. In 2003, Boliden Mineral AB carried out a combined
EM and magnetic survey over the area which identified
multi-frequency EM anomalies and magnetic anomalies along strike
of the Norra mineralization. The three gravity lines were
completed at 200 meter spacings, and showed gravity anomalies
ranging from 3 to 6 mgal almost perfectly coincident with a
prominent EM conductor and magnetic high. These coincident
anomalies may represent the mass and conductivity of a buried VMS
lens in an area of sparse outcrop and subdued topography. This
area has never been drilled.
The seventh gravity profile (L0W) was completed 1,000 meters
southeast of Norra to test a high-order EM conductor. This
profile generated a low-order anomaly of 2 mgal coincident with
the EM conductor and a magnetic high. Subsequent ground follow up
has identified sulfide-rich volcaniclastic boulders in this area;
their source is uncertain. This area has never been drilled.
Further processing and interpretation of the data along with
ground follow-up is underway to help refine drill targets.
In accordance with NI 43-101, it is not possible to make a
conclusive statement regarding the relationship between apparent
width and true width in drill intercepts due to the deformed
nature of the mineralized zone at Norra. True width will never be
greater than apparent width. Harmen Keyser, P.Geol., is the
Qualified Person responsible to ensure that drill results have
been summarized accurately.
North American Gold is a well-funded Canadian junior mineral
exploration company with mineral properties in Sweden, Nevada,
and Yukon.
ON BEHALF OF THE BOARD
NORTH AMERICAN GOLD INC.
Buck Morrow, President
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
North American Gold Inc.
Kareen McKinnon
Toll Free: 1-888-627-9378
Website: www.northamgold.com
The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of this release.
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