Re: In Terms Of Percentages, Winner On The Greens
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Jul 31, 2009 05:56PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Some more info on a green
Cougar Minerals options Wyatt property in Manitoba
Ticker Symbol: C:COU
Cougar Minerals options Wyatt property in Manitoba
Cougar Minerals Corp (C:COU)
Shares Issued 27,023,100
Friday July 31 2009 - News Release
Mr. Mike Elson reports
COUGAR OPTIONS MANITOBA WYATT CLAIMS
Cougar Minerals Corp. has entered into an agreement to earn a 100-per-cent interest in the Wyatt property located in the Garner Lake area, in the Rice Lake area of Manitoba. In order to exercise the option, Cougar is obligated to pay the vendors a total of $57,500 and issue a total of 1.2 million shares over a two-year period. Cougar may purchase one-half of a 3-per-cent net smelter returns royalty from the vendors for $1.5-million.
The Wyatt property is a large property (1,556 hectares) located west-southwest of Garner Lake, in the Rice Lake greenstone belt. The property is underlain by rocks of the Neoarchean Bidou, Gem and Edmunds assemblages, which host important gold deposits elsewhere in the greenstone belt. A regional-scale, northwest trending shear zone, up to 100 metres in width, cuts the Neoarchean rocks on the property for a strike length of about five kilometres. Gold-bearing quartz veins occur within this regional-scale shear zone.
The Main zone is a zone of multiple, close spaced, pyrite-arsenopyrite bearing quartz veins which is poorly exposed in outcrop on the property, intermittently for a strike length of about 160 metres. The Main zone has an exposed width of up to 20 metres, Its width and on-strike extension both remain open. Individual veins within the zone range up to 2 metres in width. Limited select sampling has returned values to 5.1 g/t Au from these veins. The Main zone is untested by systematic stripping and sampling, and by diamond drilling. Approximately one kilometre to the northwest, a second zone of quartz veining is known along the shear zone which has returned gold values to 20.2 g/t Au (see Harvest Gold news release HVG:2006/01/Ol). Gold-bearing quartz veins are also known along the same shear zone, on strike to the southeast and northwest beyond the Wyatt property boundary.
Linda Caron, M.Sc., P.Eng., Cougar's Qualified Person under NI 43-101 standards, has reviewed and accepted the technical contents of this release.
� 2009 Canjex Publishing Ltd.