Admiral Bay Provides Update On Monte Del Favor Silver-Gold Project
TORONTO, ONTARIO--
Surface exploration program consistent with existing historical resource; potential zone extensions
Admiral Bay Resources Inc. (TSX.V: ADB) today reports the continuing surface exploration program results from the Monte del Favor Silver-Gold property in Mexico. The Phase I program budgeted at US$500,000 consists of extensive geological mapping, sampling and drilling. Detailed mapping of road cuts with sampling and mapping of the various historical mines is currently being completed. Drilling on the property began late November and four holes are now completed.
Samples from the various road cuts have now been received by the Company and reviewed by its qualified person, Eddy Canova. Re-verification of the road cuts, additional detailed mapping of the geology, quartz veins, and structures is currently being carried out to better understand the controls of the mineralization in the area.
Mineralization on the Monte del Favor property principally occurs along east-west fault structures dipping north at 70§N and 20§N at the Monte del Favor, Zuriaga and Salomon Mines. A number of smaller mines also occur along these orientations (Hundido, Los Chivos, Las Cocinas and Rincon). Detailed mapping on the property will help identify these mineralized horizons, their trend and their continuity. Intrusive bodies have been identified near the Salomon mine and their role in the mineralizing process may be important.
Sampling over the property has been carried out over a period of three to four months and the results of 400 samples have been received. The assay results, which were compiled by Acme Laboratories in Vancouver, British Columbia and will be sent out to a second lab for verification, of the samples collected along road cuts and previously worked mines have helped to identify extensions to the mineralization (silver (Ag) and gold (Au)) along east-west trends, north-northwest trends and north-northeast trends. The sampling has identified 13 areas (table below) with 129 samples returning assay results between 100 g/t Ag to a maximum assay of 2305 g/t Ag and 42 samples returning assay results between 0.5 g/t Au and a maximum assay of 7.35 g/t Au.
Salomon Mine
The significance of the results obtained in this field program is that on the western part of the property veins 1, 2, and 3 from the Salomon mine have a potential strike length of 500m to 600m from west of Hundido to the east of Salomon where it is still open. The samples collected from these areas have average silver assays of 208.2 g/t Ag to 305.6 g/t Ag and 0.54 g/t Au to 2.01 g/t Au. Vein 5, previously mined in the Salomon Mine appears to extend over to Los Chivos and Las Cocinas, a potential strike length of 400 m and open to the west of the Salomon mine. The samples gave average silver assays of 323.8 g/t Ag to 498.9 g/t Ag and gold assays of 1.72 g/t Au to 3.37 g/t Au. The sampling in the Salomon area has identified mineralization beyond the resources estimated at the Salomon mine. This extends mineralization 200m to the east of the Salomon Mine and 300m west of the Salomon Mine. The mineralization found at the Los Chivos and Las Cocinas extends the mineralized vein 5, 400 m east of the Salomon Mine with silver assays as high as 2305.0 g/t Ag and gold assays as high as 7.35 g/t Au.
Monte del Favor
The sampling at Monte del Favor and Zuriaga has confirmed mineralization with average assays of 305.9 g/t Ag and 1.20 g/t Au at Monte del Favor and 219.9 g/t Ag and 0.67 g/t Au at Zuriaga. The mineralization at Monte del Favor and Zuriaga identifies 3 parallel east-west trending mineralized veins of widths up to 8 m. The drilling presently being done in the area will confirm the presence of these mineralized veins. The mineralized veins are 150 m in strike length and do appear to be open to the east.
Summary Of Assay Results From Sampling On Monte Del Favor Property ------------------------------------------------------------------------ Location No. Ag No. Au Assays Assays greater Max Ag Avg Ag greater Au Max Avg Au than Assay Assay than Assay Assay 100g/t g/t g/t 0.5g/t g/t g/t ------------------------------------------------------------------------
Hundido, 250m ESE Salomon 11 562.4 255.3 2 1.22 0.88 ------------------------------------------------------------------------ W Hundido, 400m W Salomon 8 355.9 230.0 3 1.59 1.21 ------------------------------------------------------------------------ Salomon 11 355.9 236.3 8 2.11 0.98 ------------------------------------------------------------------------ 100m E Salomon, V1 18 347.0 200.2 0 -- -- ------------------------------------------------------------------------ Area 2, 200m E Salomon, V2 4 424.6 237.6 1 0.54 0.54 ------------------------------------------------------------------------ 100m ESE Salomon, V3 4 729.4 305.6 1 2.01 2.01 ------------------------------------------------------------------------ 200m SE Salomon, Los Chivos, V5 26 2,305.0 498.9 5 2.99 1.72 ------------------------------------------------------------------------ 350m SE Salomon, Las Cocinas, V5 13 1,397.0 323.8 3 7.35 3.37 ------------------------------------------------------------------------ 200m NNE Salomon 4 328.2 208.2 4 1.80 1.20 ------------------------------------------------------------------------ Monte del Favor 13 496.0 305.9 8 3.30 1.20 ------------------------------------------------------------------------ 50m N Monte del Favor, Zuriaga Mine 3 296.7 219.9 2 0.67 0.67 ------------------------------------------------------------------------ 100m NNW Monte del Favor 3 188.5 156.9 4 0.63 0.57 ------------------------------------------------------------------------ 100m S Monte del Favor, V1 11 509.0 176.7 1 0.58 0.58 ------------------------------------------------------------------------ Total 129 42
Diamond drilling commenced on the Monte del Favor on November 13 with four holes now drilled, totaling 756 m of drilling. The Company expects to report shortly on first assay results from the drilling program.
The Monte del Favor project is located 80 kilometers west northwest of the city of Guadalajara in the Sierra Madre Occidental, which is well known for its many silver-gold deposits. Admiral Bay has an agreement to earn a 70% interest in Minera San Jorge's interest in the property.
Admiral Bay Resources Inc. is a Canadian exploration and development company listed on the TSX Venture Exchange. For further information on the Company, please visit www.admiralbay.com
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements".
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FOR FURTHER INFORMATION PLEASE CONTACT: Admiral Bay Resources Inc. Mr. Mark Brennan President & C.E.O. (416) 364-2266 Toll Free: 1-877-600-6001 Email: mbrennan@admiralbay.com or Mr. Robert McIntosh Vice President of Exploration (604) 628-5642 Toll Free: 1-866-217-1620 Email: info@admiralbay.com The TSX Venture Exchange does not accept responsibility for the adequacy of this release.