Golden Odyssey drills 3.2 m of 9,109 ppm Zn at Peggy
2009-12-22 15:30 ET - News Release
Mr. Tyrone Docherty reports
GOLDEN ODYSSEY REPORTS DOME SOUTH DRILLING
Golden Odyssey Mining Inc. is presently receiving and compiling the information from the fall work program at its advanced exploration gold, silver, copper and tellurium Deer Horn property located near Smithers, B.C. Results are expected to be available early in the new year.
The summer work program results are now available from a 2009 diamond drilling program at the company's Dome South property, located in west-central British Columbia.
The intent of the 2009 diamond drilling program at Dome South was to evaluate two widely spaced geophysical anomalies that had been identified by a 2008 3-D induced polarization (3DIP) and ground magnetic survey, and to test the third dimension of the Peggy structure, a prospective silver and base-metal-bearing zone discovered and trenched in 2007 by previous operators. Nine holes were drilled with a total length of 1,110.7 metres. Six holes targeted the Peggy structure, two holes tested a pronounced chargeability anomaly and one hole was drilled into a magnetic-high anomaly.
Drill holes DS09-01 and DS09-04 through DS09-08 intersected the Peggy structure over a strike length of approximately 50 metres. The structure strikes to the north and dips steeply eastward. Trenching and surface channel sampling of the Peggy structure returned results up to 73.9 parts per million silver and 7,226 parts per million copper over up to 2.27 metres and traced the zone for more than 125 metres along strike. Each drill hole intersected mineralization, consisting of quartz stringers containing traces to less than 1 per cent tetrahedrite, chalcopyrite, sphalerite, galena and pyrite, hosted primarily in silicified limy sediments. Assay results confirmed only low concentrations of silver and base metals, but further evaluation of the mineralized structure along strike is warranted.
Drill holes DS09-02 and -03 were collared 395 metres south of the Peggy trench and tested a prominent, northwest-trending 3DIP chargeability-high, resistivity-low anomaly. The two holes intersected intermediate flows above a sequence of intercalated graphitic argillite, siltstone and volcanic ash. The sedimentary lithologies intersected in drilling appear to be an explanation for the chargeability anomaly, however the altered and mineralized volcanics intersected above the sedimentary package is regarded to be positive.
Drill hole DS09-09 was collared approximately one kilometre northeast of the Peggy trench and evaluated a modest magnetic-high anomaly. It encountered intensely propylitic-altered (chlorite-epidote-calcite-pyrite) intermediate volcanic rocks which may indicate proximity to a mineralized hydrothermal system. Core was not sampled, but will be relogged and sampled during the winter.
DOME SOUTH RESULTS
From To Interval Ag Cu Pb Zn
Hole ID (m) (m) (m) (ppm) (ppm) (ppm) (ppm) Zone
DS09-01 82.00 83.00 1.00 13.8 1050 216 1535 Peggy
DS09-02 25.26 28.00 2.74 4.2 1294 3DIP
DS09-04 26.08 32.4 6.33 1.6 141 422 1639 Peggy
Including 30.41 32.4 2.00 3.0 363 304 1106 Peggy
DS09-06 59.74 62.1 2.33 12.2 814 105 415 Peggy
DS09-07 33.90 40.6 6.72 1.7 106 691 3424 Peggy
DS09-08 79.49 82.8 3.29 2.2 140 2126 9109 Peggy
Fieldwork was carried out under the supervision of Bob Lane, PGeo, a qualified person for the purposes of National Instrument 43-101, who has verified the data disclosed in this news release.
About the Dome South property
The Dome South property consists of 31 claims that cover 14,078 hectares of prospective Jurassic Hazelton group stratigraphy and Cretaceous Kasalka group, that in part comprises the mineralogically well-endowed Stikine terrane of northwestern British Columbia. The Dome South property is centred approximately 45 kilometres east of the town of Smithers and adjoins the former-producing Dome Mountain gold mine. The Dome Mountain gold mine operated from 1991 to 1992 producing 11,621 ounces of gold and 4,404 ounces of silver from the processing of 30,280 tonnes of ore. It is currently being assessed by Eagle Peak Resources for possible reopening.
The 2008 geophysical surveys and 2009 trenching and drilling programs took place in the northwest corner of the property and the remaining 90 per cent of the property has received little recorded exploration. While drilling did not encounter ore-grade mineralization, the company still regards the property to have significant potential.
We seek Safe Harbor.
