MONTREAL, Sept. 8 /CNW Telbec/ - Blue Note Mining Inc. (TSXV: BNT) ("Blue Note") and First Gold Exploration Inc. (TSXV: EFG) ("First Gold") are pleased to announce preliminary results from the first phase diamond drill program at the Croinor Gold Project.
The Phase 1 program which commenced on June 1, 2010 was completed on August 25, 2010 comprising 2,794 meters drilled in 19 holes. There were 7 short holes totaling 282 meters drilled to test near surface gold mineralization to the west of the West Pit, 5 holes totaling 444.7 meters were drilled for geotechnical studies, and 7 holes totaling 2,067.4 meters were drilled to test extensions of the underground resources/reserves. During the Phase 1 program, a Hole-to Hole 3D induced polarization (IP) geophysical survey was also carried out by Abitibi Geophysics to further identify potential extensions of the Croinor deposit.
Previous drilling west of the West Pit identified gold mineralization, typically within 20 meters of surface, which could be easily extracted with a shallow open pit. The current campaign generally confirmed continuity of the mineralization and included higher grade intervals of 7.27 g/t gold over 1.0 meter within a 5.1 meter interval grading 2.30 g/t gold in CR-10-368 and 7.74 g/t gold over 1.1 meter within a 4.1 meter interval grading 2.65 g/t gold in CR-10-371.
Significant gold values from results received to date are shown in the Table below. Blue Note's exploration program was carried out by InnovExplo personnel and supervised by Carl Pelletier P.Geo. Gold values were determined by fire assay and AAS, or fire assay and gravimetric analyses if over 3 g/t, at the ALS Laboratory Group, Minerals Division laboratory in Val d'Or.
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True
Hole no. Target Area From To (m) Length width Au g/t
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CR-10-365B W-West Pit 24.0 24.9 0.9 0.87 1.85
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CR-10-366B W-West Pit 20.8 21.8 1.0 0.98 2.53
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CR-10-366B W-West Pit 27.0 27.6 0.6 0.60 1.52
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CR-10-367 W-West Pit 14.8 16.0 1.2 1.18 2.61
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CR-10-367 W-West Pit 16.0 16.5 0.5 0.49 0.47
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CR-10-368 W-West Pit 13.7 18.8 5.1 5.06 2.30
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includes W-West Pit 13.7 14.7 1.0 0.99 7.27
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and W-West Pit 17.4 18.8 1.4 1.04 2.90
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CR-10-368 W-West Pit 22.9 24.0 1.1 1.05 0.48
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CR-10-369 W-West Pit 12.0 16.0 4.0 3.07 2.23
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includes W-West Pit 15.0 16.0 1.0 0.76 3.31
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CR-10-369 W-West Pit 21.0 21.6 0.6 0.46 0.83
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CR-10-370 W-West Pit 14.2 17.0 2.8 2.15 1.55
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CR-10-370 W-West Pit 17.0 18.0 1.0 0.76 0.48
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CR-10-371 W-West Pit 22.9 27.0 4.1 4.06 2.65
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includes W-West Pit 22.9 24.0 1.1 1.09 7.74
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CR-10-371 W-West Pit 27.0 28.1 1.1 1.10 0.36
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The recently completed surface drill information will be evaluated to determine the potential for a small open pit operation which has not been included in the recently completed Croinor prefeasibility study. Assays pertaining to the seven holes drilled to test extensions of the underground resources/reserves are pending as are the results of the 3D IP geophysical survey.
Phase 2 of the Croinor drill program, consisting of 2800 meters of drilling to follow up Phase 1 and test targets identified by the 3D induced polarization survey, will be completed during the fourth quarter of 2010.
Update on Chimo Drilling Campaign
The 100%-owned Chimo gold project is located 25 kms from Croinor and is on the same road leading to the Croinor project. The drilling program comprises two phases totaling 3,200 metres to follow up on gold mineralization delineated at and near the previously operated Chimo gold mine. The first phase comprising 1,037 meters in three holes has been completed and assays are pending. Phase 2 is expected to be completed during the fourth quarter of this year (see news release of May 27, 2010). The Chimo gold deposit is contemplated to complement the Croinor project.
John Martin, P. Eng., President and Chief Operating Officer of Blue Note Mining Inc., is a Qualified Person as defined under Regulation 43-101 guidelines and has reviewed the technical information contained in this press release. Carl Pelletier, P.Geo. of InnovExplo Inc., a consulting firm based in Val d'Or (Québec), is a Qualified and Independent person as defined under Regulations 43-101 guidelines and has also reviewed and approved the technical information of this press release.
About Blue Note Mining
Blue Note Mining is a mineral exploration and mining company headquartered in Montreal with properties located in known gold regions of Canada, including the prolific Val-d'Or region of Quebec and northern New Brunswick. Blue Note's top priority is to put the Croinor Gold Property into production.
About First Gold Exploration
The goal of the Company is to create shareholder value by acquiring promising projects that could be advanced to production stage in a short period of time. This has been achieved with its interest in the Croinor gold project, and the currently in progress Rare Metal Pivert/Rose property, among other promising projects in the pipeline including the San Javier silver property.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products, technical uncertainties associated with operating an underground mine and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."