Carlisle Goldfields Announces Positive Drilling Results from its New Linkwood Project in Lynn Lake, Manitoba Including 18 Metres Grading 3.34 g/t Au and 3.57 g/t Ag
TORONTO, ONTARIO--(Marketwire - Sept. 19, 2012) - Carlisle Goldfields Limited ("Carlisle" or the "Company") (CGJ.TO)(CGJCF) announces the first results from its drill program at its Linkwood Project. The most impressive results were intersected in drill holes LW12-07, showing 18 metres (m) grading 3.34 g/t Au (grams of gold per tonne) and 3.57 g/t Ag (grams of silver per tonne) and LW12-03, showing 10.6 m grading 2.75 g/t Au and 1.75 g/t Ag. This is the first project since MacLellan to show significant silver results. The Company is still awaiting the assay results for the final 16 holes drilled.
Carlisle recently completed the 25 hole drill program designed to outline mineralization over a strike length of 800 m at Linkwood which is along strike to the west of the Company's Burnt Timber Project. Both projects show a similar east-west strike and 45 degree dip to the north. Carlisle expects to have a NI 43-101 resource report for Linkwood during Q4 of 2012.
Peter Karelse P.Geo, the Company's Vice-President of Exploration commented that the "We believe that these initial drill results demonstrate the high quality of the Linkwood project. These drill results, with over 10 intervals in excess of 5 m in length containing both gold and silver mineralization, will substantially enhance the Company's resource base in the Lynn Lake Camp. The Johnson Shear structural complex which hosts both the Linkwood and Burnt Timber deposits has the potential based on both our recent results and the historic results to deliver more of these types of deposits."
Bruce Reid, President of Carlisle Goldfields stated "Carlisle believes that the high grade nature of this mineralization, as evidenced by these initial assays, is indicative of a promising future for the Linkwood deposit and the whole Johnson Shear in general. Carlisle has now identified five significant gold mineralized projects in Lynn Lake."
Highlights
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From To Drill Interval Au Grade Ag Grade
Hole (m) (m) (m) g/t g/t
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142 150 6 1.15 1.09
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LW12-01 182 187 5 3.90 4.34
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Including
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184 187 3 6.09 6.73
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186 187 1 6.10 0.00
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LW12-02 213 215 2 5.11 0.20
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223 224 1 4.08 0.00
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88 92 4 9.24 5.08
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LW12-03 123.0 133.6 10.6 2.75 1.75
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Including
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129.0 133.6 4.6 5.24 2.34
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64 70 6 2.33 0.38
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LW12-04 Including
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67 70 3 3.88 0.43
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182 183 1 11.25 0.00
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198 210 12 1.60 1.78
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LW12-05 Including
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200 202 2 2.28 2.75
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204 206 2 2.83 2.50
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207 210 3 2.18 1.83
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LW12-06 161 166 5 1.93 1.34
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175 180 5 2.88 3.96
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145 163 18 3.34 3.57
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Including
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150 154 4 5.87 2.65
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157 163 6 4.89 6.58
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191 201 10 1.33 4.13
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LW12-07 Including
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191 193 2 2.44 14.00
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195 197 2 2.04 3.25
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228 232 4 2.00 1.33
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Including
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230 232 2 3.33 1.75
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235 236 1 18.52 5.50
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57.0 59.4 2.4 2.87 5.23
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LW12-08 75 85 10 3.66 1.81
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Including
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78 83 5 5.17 1.46
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117 118 1 4.66 5.00
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157 165 8 1.90 1.49
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209 216 7 2.57 2.73
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LW12-09 225.5 230.0 4.5 7.24 3.36
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Including
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225.5 227.5 2 12.73 6.04
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228 230 2 3.43 1.23
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(i)drill results highlighted and sub results used an arbitrary cut-off grade
of 0.70 g/t Au and 0.90 g/t Ag
About Linkwood: Linkwood is Carlisle's newest gold project. Linkwood was re-discovered by the Company using IP geophysics earlier this year. The project was originally outlined by drilling completed by Sherritt Gordon in the 1980's. This deposit is approximately four km west along strike of the Burnt Timber Project on the Johnson Shear. These are the first 2 gold deposits to be re-confirmed by Carlisle through modern drilling along the Johnson Shear. Approximately 12-15 deposits were previously identified with historical drilling, done primarily by Sherritt Gordon, in the 1980's.
To view Map A and Map B, please visit the following link: http://media3.marketwire.com/docs/carlisle_mapa_mapb_sept19.pdf
QA/QC
Carlisle's exploration programs are carried out under the supervision of Peter Karelse P.Geo., Vice- President of Exploration, who is qualified person as defined by NI 43-101 with more than 30 years of experience in gold exploration and development. All technical information in this press release has been reviewed and approved by Mr. Karelse.
About Carlisle: Carlisle Goldfields Limited is a Canadian-based gold exploration and development company, focused on development of its mining leases and claims in the Lynn Lake Greenstone Belt of Northern Manitoba, covering approximately 20,000 hectares which include the former MacLellan Gold mine and two other former producing gold mines as well as numerous other historically identified Gold Zones all within close distance of the town of Lynn Lake.
In March 2012 (see News Release dated March 13, 2012), Carlisle announced an updated Resource Estimate on the MacLellan Gold Project in Lynn Lake, Manitoba. This included Open Pit and Underground Resources in the Measured and Indicated Categories having increased to 32.4 million tonnes containing 2,018,100 ounces of AuEq at an average grade of 1.94 g/t AuEq (1.9 g/t Au and 4.4g/t Ag). The pit- contained Measured and Indicated categories of 29.9 million tonnes contain 1.7 million ounces of AuEq at an average grade of 1.8g/t AuEq (1.7 g/t Au and 4.4g/t Ag). The current Measured and Indicated Categories represent 94% of this total resource estimate.
This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The Company's shares and other securities have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent an applicable exemption from the registration requirements.
Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "Forward-Looking Statements", including the establishment and estimate of resources, that involve various known and unknown risks and uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, Carlisle expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Neither IIROC nor the TSX accepts responsibility for the adequacy or accuracy of this release.
