Bristol Township Gold Project (so-called Beach Project)
posted on
Jun 29, 2009 07:20PM
This is another unexpected advantageous situation like the Chromite discovery. Thanking to the neighbour exploration companies, Probe's gold property at Timmins is getting a spotlight for potentially high-valued gold deposits.
Highlights and Advantages:
• Covers 2.85 km of the highly prospective sediment-volcanic contact NE from the Timmins West deposit
• Drill testing in 2004-2005 identified four new zones of gold mineralization
• Covers the eastern extension of the highly prospective Bristol Fault Zone
• Unparalleled logistics provided by the Trans-Canada Highway and major hyrdo and gas pipelines crossing the property.
• WTM can earn up to a 70% interest in the Beach Property from Probe Mines Ltd. and a 100% interest in the Strand Property.
Mineralization:
Drilling by Probe Mines in late 2004-early 2005 identified 4 new zones of gold mineralization associated with geophysical anomalies within northern portion of the property. Gold mineralization is associated both with a prominent quartz-feldspar porphyry intrusion located in close proximity to the sediment-volcanic contact cutting the property and with ultramafic bodies cutting the volcanic sequence. Results included 11.0 metres grading 1.9 g/t Au and 6.0 m grading 2.4 g/t from the discovery holes in two of these zones associated with interpreted ultramafic units within the Tisdale volcanic package.
Last Wednesday, West Timmins Mining Inc. released the broadest high-grade gold intercept ever reported from the West Timmins district -- an impressive 83.4 metres (273.55 feet) grading 12.75 grams per tonne (g/t) (0.37 ounce per ton) gold -- from hole TC-09-68b on its Thunder Creek joint venture in Timmins, Ont. It's sp (WTM:V) went up to $1.70 by this morning ($.13 - 52 weeks low). The new discovery was adjacent to jv properties between West Timmins and Probe Mines.
“This is one of the broadest, high-grade gold intercepts ever reported from the Timmins Gold Camp, which ranks as the largest gold camp in North America with over 70 million ounces of gold produced over the last century” said Darin Wagner, President and CEO of West Timmins Mining Inc."
http://www.westtimminsmining.com/main/?newsReleases&207
http://www.stockta.com/cgi-bin/analysis.pl?symb=WTM.C&num1=8&cobrand=&mode=stock
WTM holds a 40-per-cent interest in the Thunder Creek property in joint venture with project operator Lake Shore Gold.
Again, the mineralized gold trend passes through the WTM/PRB properties. West Timmins has to provide Probe Mines with updates on x amount of dollars to be spent to maintain the jv relationship by June 30, 2009.