National Gold (NGT)

[marcos]

' Alamos commences Mulatos drilling

National Gold Corp
NGT
Shares issued 12,903,815
Dec 12 2001 close $.150
Wednesday Dec 12 2001
News Release
Mr. Chester Millar of Alamos Minerals reports
Drilling is under way in the high-grade Estrella pit of the Mulatos deposit, 220 kilometres east of Hermosillo in the state of Sonora, Mexico. The drilling program is intended to accurately define near-surface gold mineralization of higher grade than previously published resources.
The Estrella zone is the higher grade core of the Mulatos deposit, and contains 1.16 million ounces of measured and indicated gold within 11.5 million tonnes grading 3.16 grams per tonne at a two-gram cutoff. The Mulatos deposit hosts a 3.4 million ounce gold resource within 68.8 million tonnes at a 0.8-gram cutoff.
The resource was defined on the basis of 511 drill holes and 994 samples from underground workings.
The current drilling program, targeting two adjoining areas, will comprise up to 126 vertical holes varying in depth from 18 to 40 metres. The holes will be drilled on a grid of 12-metre spacing, and subsequently increased to six-metre spacing as results warrant. A track mounted air percussion drill rig is being used. Samples for assay will be split on site. Half of each split will be shipped to the Bondar Clegg laboratory in Hermosillo for initial preparation. The samples will then be forwarded to the Bondar Clegg laboratory in Vancouver, B.C., for fire assay.
Previous drilling in the Estrella zone identified an area of near-surface ore grade material. Closer spaced drilling in this area is required to accurately estimate the amount of contained gold that will be mined and stacked on a test leach pad. A bulk heap leach test is expected to follow the drilling program as part of a comprehensive feasibility study. Alamos is in the process of filing a permit application to mine, crush and heap leach 50,000 tons of ore.
Mulatos is one of the claim areas within the 15,000-hectare Salamandra property. The claims are owned by National Gold Corporation under an agreement with Tendoramex SA de CV. Alamos can earn a 50-per-cent interest in the property under an agreement reported in Stockwatch on Oct. 17. The agreement is subject to regulatory approval.
(c) Copyright 2002 Canjex Publishing Ltd. http://www.canada-stockwatch.com '

... end quotes ... this was three weeks ago ... should be assays coming soon?