Golden Odyssey drills four m of 5.2 g/t Au at Deer Horn
2010-01-14 10:42 ET - News Release
MR. Tyrone Docherty reports
GOLDEN ODYSSEY INTERSECTS ADDITIONAL HIGH GRADE GOLD-SILVER-TELLURIUM AT DEER HORN
Golden Odyssey Mining Inc. has released assay results from the remaining 21 holes of a 35-hole, 1706-metre diamond drilling program on its Deer Horn property, located 36 kilometres south of the Huckleberry mine in west-central British Columbia.
Eighteen of the 21 holes (DH09-076 through DH09-093) were drilled immediately west of the Deer Horn adit. They were collared in closely spaced fashion on north-south sections spaced between 10 and 25 metres apart. The holes intersected the Main vein, and locally, multiple subsidiary hanging wall and footwall veins, and/or stockwork zones at shallow depths. Data from these holes, together with data recently released for holes drilled nearby (see Stockwatch news release dated Jan. 12, 2010) provided a detailed account of the Main vein over a strike length of more than 130 metres. Several of the holes also extended into the Contact zone.
Assay highlights from the 21 holes are presented and significant results are listed on the company's website. As previously mentioned, mineralization is also highly anomalous in tellurium, which has a positive correlation with both silver and gold. The highest precious metal grades are typically accompanied by significant concentrations of copper, lead and zinc.
Holes DH09-076 and DH09-077 were drilled on Section 613700E. Assay highlights include:
6.78 grams per tonne Au, 390.2 g/t Ag and 229 g/t Te over 1.16 m;
7.39 g/t Au, 339.8 g/t Ag and 251 g/t Te over 3.26 m, including 10.75 g/t Au, 469.5 g/t Ag and 369 g/t Te over 2.10 m.
Holes DH09-078 and DH09-079 were drilled on Section 613720E. Assay highlights include:
3.69 g/t Au, 169.2 g/t Ag and 133 g/t Te over 3.50 m, including 7.39 g/t Au, 347.0 g/t Ag and 275 g/t Te over 1.5 m
5.26 g/t Au, 301.9 g/t Ag and 188 g/t Te over four m, including 7.29 g/t Au, 427.6 g/t Ag and 266 g/t Te over two m.
Holes DH09-080 and DH09-081 (Section 613740E), DH09-084 to DH09-086 (Section 613750E), and DH09-082 and DH09-083 (Section 613765E) successfully intersected the Main vein, and several subsidiary hangingwall and footwall veins. The veins intersected in these holes were typically narrow and returned low to modest gold, silver and tellurium values, but with locally impressive base metal values. The presence of appreciable base metals is consistent with the other precious metal-enriched sections of the vein system. Results are regarded to be encouraging.
DH09-087 to DH09-089 were drilled on Section 613790E. Assay highlights include:
11.46 g/t Au, 298.2 g/t Ag and 203 g/t Te over 2.50 m, including 40.40 g/t Au, 979.3 g/t Ag and 671 g/t Te over 0.30 m in DH09-088;
7.52 g/t Au, 287.6 g/t Ag and 461 g/t Te over 0.66 m in DH09-089.
DH09-090 to DH09-093 were drilled on Section 613805E. Assay highlights include:
4.27 g/t Au, 133.2 g/t Ag and 51 g/t Te over 3.77 m, including 9.48 g/t Au, 277.8 g/t Ag and 185 g/t Te over 0.95 m in DH09-090;
12.17 g/t Au, 441.4 g/t Ag and 292 g/t Te over 2.26 m, including 29.90 g/t Au, 1014.1 g/t Ag and 737 g/t Te over 0.70 m in DH09-092;
6.15 g/t Au, 286.5 g/t Ag and 160 g/t Te over 1.75 m in DH09-093.
The final three holes of the program (DH09-094 through DH09-096) were drilled immediately east of the Deer Horn adit. DH09-095 was drilled "off-section" on an azimuth of 270 degrees to intercept the north-trending (Main) vein, upon which the Deer Horn portal was collared. The vein was channel sampled at the portal and returned an assay of 17.90 g/t Au, 500.1 g/t Ag and 305 g/t Te over 2.8 m (sample DH09-048). DH09-094 and DH09-096 were drilled from the same collar location as DH09-095, but "on section" (section 613910E). They were drilled to intersect the downdip projection of the Main vein and quartz-sulphide veins in its footwall. Drilling encountered several veins with zones of clay gouge, shattered wallrock vein-indicating faulting and perhaps some structural loss of vein material. One narrow intersection returned exceptional silver and tellurium values, and may represent a new discovery. Assay highlights include:
8.80 g/t Au, 129.4 g/t Ag and 112 g/t Te over 0.50 m in DH09-094;
7.35 g/t Au, 129.2 g/t Ag and 160 g/t Te over 2.71 m, including 17.96 g/t Au, 272.3 g/t Ag and 363 g/t Te over 0.74 m in DH09-095. Deeper in the same hole, 19.00 g/t Au, 486.0 g/t Ag and 491 g/t Te over 0.6 m;
2.10 g/t Au, 264.3 g/t Ag and 330 g/t Te over 2.04 m, including 10.01 g/t Au, 1963.9 g/t Ag and 2471 g/t Te over 0.25 m in DH09-096.
The 2009 program was conducted to confirm, validate and expand upon the results from previous exploration efforts on the property. This early work included extensive surface trenching, more than 500 m of underground development and more than 10,000 m of surface diamond drilling. It delineated the veins for approximately 700 m along the east-west strike and traced the mineralized system for approximately 1.5 kilometres. Prior to 2009, the most recent exploration was conducted in 1989 to 1990, by Golden Knight Resources Inc.
There is no NI43-101-compliant resource for the Deer Horn property. However, an historic unclassified tonnage and grade estimate, for the Main vein and Contact zone combined, totals 249,000 tonnes grading 10.1 g/t gold and 294 g/t silver.
The 2009 diamond drilling program took place over a 320-metre strike length of the vein system. Results from the 2009 drilling program are being compiled with historical data. Modelling of the Deer Horn deposit has begun in earnest. Based on the results of the 2009 drilling program, a more robust drilling program is being formulated for the 2010 field season. Well-mineralized veins, sampled during the program, crop out to the west and well to the east of the area drilled. They provide alluring targets for future drilling campaigns.
Bob Lane, PGeo, is the qualified person for Golden Odyssey, as specified in National Instrument 43-101 for technical disclosure, and is the person responsible for preparation of the technical information contained in this news release.
Tyrone Docherty, president and chief executive officer, stated: "Golden Odyssey is extremely encouraged by the 2009 drill results at Deer Horn. These results, coupled with equally encouraging to locally exceptional grades encountered in surface sampling, provide the impetus necessary for us to continue along an aggressive exploration and development schedule."
We seek Safe Harbor.
