TQY Tanqueray sees gold in Baker Lake samples
2004-08-05 11:01 ET - News Release
Mr. Phillip Mudry reports
INITIAL SAMPLE RESULTS FROM BAKER LAKE, NUNAVUT
Tanqueray Resources Ltd. has received results of 37 representative surface rock samples from its Baker Lake project located in Nunavut. Samples were collected at the beginning of July and analyzed by Activation Laboratories of Ancaster, Ont. Approximately 100 additional samples have been submitted to the lab for processing and results will be released on a timely basis.
Of the 37 representative grab samples collected from several zones, 36 of these samples returned assays ranging from 1.05 grams per tonne gold to 46.3 grams per tonne gold (1.35 ounces per ton). Twenty of these samples returned values greater than 10.1 grams per tonne (0.29 ounce per ton).
Firefly Aviation has completed a district-scale, airborne-magnetic survey covering approximately 10,000 line kilometres along an 80-kilometre strike length on part of the Woodburn Archean greenstone belt. Processing and interpretation of the data are currently in process.
The second phase of the summer exploration program will commence on Aug. 7, and will consist of regional and detailed geochemical soil sampling, structural mapping, geological mapping, and prospecting. Upon collation of all technical information and sample results, it is anticipated that a drill program consisting of approximately 5,000 metres will be required to adequately define the gold zones.
The company currently holds a 100-per-cent interest in approximately 54,000 acres of land, and has 11,035 acres of land under option (all subject to a 2-per-cent NSR) of highly prospective gold exploration properties in the Baker Lake area.
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