North American Gold Inc.: Assay Results From Drilling at
Norra Extends Mineralization to the Northwest
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 23, 2004) -
North American Gold Inc. (TSX-V:NAU) is pleased to provide the
first assay results from an on-going diamond drilling program at
the Norra project in northern Sweden. A total of 10 holes have
been completed to date at the Norra Zone.
The 2004 drilling program at Norra has been designed to test for
strike extents of polymetallic (including gold) rich massive
sulfide mineralization tested in 2003. In 1993 for example hole
03-005 returned 8 m averaging 11.0 g/t Au, 91.0 g/t Ag, 3.5%
Copper, and 3.7% zinc.
The latest holes, from a 45 meter step-out, confirm that the
gold-rich massive sulfide mineralization continues and remains
open to the northwest. This is along strike with favorable
stratigraphy, and closely coincident with gravity-EM-magnetic
anomalies further to the northwest at Cee Lake. This zone is
developing into an important gold-rich massive sulfide body with
promising strike potential.
/T/
Hole No. From To Width m Au g/t Ag g/t Cu % Zn %
DDH 04-13 89.55 90.52 0.97 2.1 11.2 0.1 1.4
90.52 91.35 0.83 5.8 60.6 2.0 3.0
91.35 92.35 1.0 1.0 56.7 1.0 0.6
92.35 93.35 1.0 4.2 43.6 0.5 1.4
Wt'd Avg: 89.55 93.35 3.8 3.2 42.5 0.8 1.5
DDH 04-14 98.65 99.65 1.0 10.5 45.6 1.3 0.6
99.65 100.2 0.55 6.9 132.0 2.2 18.0
100.2 101.1 0.9 6.6 80.5 2.6 6.8
101.1 101.73 0.63 12.0 66.4 0.4 2.0
Wt'd Avg: 98.65 101.75 3.1 9.0 75.5 1.6 5.8
/T/
Commenting on the assays from holes DDH 04-13 and 04-14, Buck
Morrow, President, said, "These are the type of results we were
hoping for at Norra. This zone represents new high value
polymetallic mineralization in the Skelleftea VMS belt, one of
the world's most productive gold-rich VMS environments. Our
exploration team has done an excellent job of targeting these
holes, and significantly increasing the exploration potential
along a strike length exceeding two kilometers. We are currently
exploring the northwest strike potential in the area of the
gravity surveys, but we can't forget about the southeast
direction either. The proximity of the Norra zone mineralization
to the gravity anomalies at Cee Lake, as well as other known
gold-bearing zones including Avan, Central, and Skirasen, is
becoming more and more significant."
In addition, more assays are now available from the Barsele
Central Zone, as follows:
/T/
Hole No. From To Width m Au g/t
DDH 04-06(1) 19.9 31.4 11.5 7.4
Including 24.9 29.1 4.2 11.6
55.5 60.5 5 2.2
DDH 04-07 48.6 86.6 38 0.9
Including 66.5 76.7 10.2 1.8
Including 66.5 68.5 2 4.6
(1). Assays from hole 04-06 announced on 9 September, 2004.
/T/
Holes 04-06 and 04-07 tested the western margin of the Barsele
Central Zone, and continue to increase the size of the mineral
occurrence.
The remaining assays in holes 04-11, 04-12 and 04-15 through
04-20 at Norra, as well as holes 04-08 through 04-10 at the
Barsele Central Zone, are pending, and will be reported when
available and confirmed. Drilling is continuing along strike to
the northwest at Norra.
NI 43-101 Compliance
The 2004 drilling program is being supervised by Harmen Keyser,
P.Geol., a qualified person under NI 43-101, who has verified the
data disclosed in this release. It is not yet possible to make a
conclusive statement defining true width in these intercepts, as
adjoining assay intervals remain pending at Norra. Averages
reported in this news release are weighted to sample width and
not to specific gravity. Assays have been performed by Omac
Laboratories (ISO 9001:2001) of Loughrea, Ireland and ALS Chemex
(ISO 9001:2000) of Vancouver, Canada using standard fire assays
for gold and AAS for silver, copper, and zinc.
Background
North American has an option to acquire a 60% interest in the
adjoining Norra and Barsele properties from Minmet plc by
incurring a total of US $ 3.5 million in exploration expenditures
and issuing 400,000 shares to Minmet by November 3, 2006 (see
news release November 3, 2003). For more information, please
refer to North American's website www.northamgold.com or call
Kareen McKinnon toll free at 1 888 627 9378.
ON BEHALF OF THE BOARD OF DIRECTORS
Buck Morrow
NORTH AMERICAN GOLD INC
-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 accuracy of this release
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