Nayarit Gold encounters additional high grade gold and silver at Orion District 3.03 g/t gold and 350.16 g/t silver, or 10.03 g/t gold equivalent over true width of 6.32m, Includes 11.35 g/t gold and 955 g/t silver over 0.60m true width
Toronto, Ontario,September 25, 2007, Nayarit Gold Inc. (TSXV: NYG) is pleased to announce additional high grade gold and silver assay results, obtained in the second hole in its Phase One - 7,000 metre diamond drilling program in the Orion District in Nayarit State, Mexico. Hole OR-07-31 was the second of seven holes to be drilled to test the "Minas de Animas" structure. Six of these holes have been completed, with assays from four holes still pending from ALS Chemex. The seventh hole is nearing the expected vein intercept. A second drill rig has begun testing the vein system on the Lazaro Cardenas structure, located 25km southwest of the Animas project.
The following table summarizes assay data received from drill hole OR-07-31, it should be noted that sample 725276 is a duplicate of 725275 and the values for the two samples have been averaged to arrive at a compositenumber:
Sample Number |
From (meters) |
To (meters) |
Width (meters) |
Gold (g/t) |
Silver (g/t) |
725271 |
122.0 |
123.0 |
1.0 |
1.76 |
131 |
725272 |
123.0 |
124.0 |
1.0 |
8.02 |
955 |
725273 |
124.0 |
125.0 |
1.0 |
11.35 |
924 |
725274 |
125.0 |
126.5 |
1.5 |
1.26 |
212 |
725275 |
126.5 |
128.0 |
1.5 |
7.77 |
475 |
725276 |
126.5 |
128.0 |
1.5 |
2.16 |
215 |
725277 |
128.0 |
129.5 |
1.5 |
.27 |
65 |
725278 |
129.5 |
131.0 |
1.5 |
.44 |
295 |
725279 |
131.0 |
132.5 |
1.5 |
.99 |
194 |
"We are very pleased with the initial results from the area, and the first two holes have demonstrated positive and consistent grades and widths,"stated Colin Sutherland, President & CEO. "The results are extremely encouraging, and we are expecting more data in the coming weeks from Animas.We continue to move forward with our program, and are expecting very good results from Lazaro Cardenas."
The Company has begun drilling with a second drill rig as part of its Phase One program, and will test the "Lazaro Cardenas" area. The main Lazaro Cardenas system has been traced on surface for more than 8 kilometres, with widths in excess of 10m. The mineralized system containing silver-rich veins in a large structural zone has returned initial sampling results from surface chip channel sampling of up to 18.65 g/t gold over 2.0m and 1,620 g/t silver over 0.80 metres. Historic pits and trenches, as well as adits and shafts have been identified intermittently along the structure. The system crosses the Pan American Highway, Mexico 15, as well as the Mexican National Rail Road, resulting in excellent infrastructure in the area.
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About Nayarit Gold Inc. :
Nayarit Gold Inc. is a Toronto based junior resource company dedicated to gold exploration in the proven precious metal districts of Mexico.Management's goal is to build a profitable resource company and maximize shareholder value through successful exploration programs and continued development.
William J. Warren Jr., M.Sc., P.Geo is a Qualified Person as defined in NI43-101 and has reviewed this release.
QA/QC Procedures: The Company has implemented a quality control program to ensure best practices in sampling and analysis of the core samples. The core is first logged then split in half during the sampling process with the remaining half being retained for verification and reference purposes.Duplicates, standards and blanks are inserted randomly into the sample stream. The samples are delivered directly in security sealed bags to ALS-Chemex Laboratories preparation facility in Guadalajara, Jalisco (Certification ISO 9001). Sample pulps are shipped from there to ALS-Chemex Laboratories in North Vancouver, Canada for analysis by ICP techniques.Metallic screen fire analyses for silver are also regularly run as an additional QA/QC check. Gold equivalent values are calculated using a 50:1 ratio.
CAUTIONARY STATEMENT - The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements".All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Nayarit, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Nayarit's expectations are exploration risks detailed herein and from time to time in the filings made by Nayarit with securities regulators.
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For further information on Nayarit Gold please visit the company's website at www.nayaritgold.com or contact:
Mr. Colin P. Sutherland
President & CEO
Phone No: (647) 477-6264
Email: info@nayaritgold.com
