NORTH COUNTRY CONTINUES TO DISCOVER NEW AREAS OF GOLD MINERALIZATION AT COMMITTEE BAY PROJECT
October 24, 2011, Edmonton, Alberta - North Country Gold Corp. (NCG: TSX-V)(NCG or the “Company”) is pleased to announce positive rock sample results from its 2011 regional exploration program conducted at the Committee Bay Greenstone Project, located northeast of Baker Lake in Nunavut. The 2011 prospecting program continues to locate new areas with anomalous gold and to expand and upgrade existing gold targets along the 300km long gold-rich Committee Bay Greenstone Belt.
The assessment-driven exploration program, completed in August 2011, resulted in the collection of 921 rock samples. In total, 5.5% of samples collected in the 2011 program assayed greater than 150 parts per billion (“ppb”) gold (“Au”). Rock samples greater than 150 ppb Au are considered anomalous within Committee Bay Greenstone Belt and historically many of the project’s advanced prospects began with similar anomalous grades. Three existing gold targets - Naqsaq, Maro and Prospector, have been extended and upgraded from 2011 sampling. Extension of the Three Bluffs ground magnetics grid was also completed during the season giving NCG an additional 1.5km coverage along the western extension of the prospective Walker Lake Trend, west of Hayes.
“The continued return of anomalous gold samples and upgrade of targets along the entire 300km Committee Bay belt attests to the district scale gold potential of the belt” stated John Williamson, President and CEO of North Country Gold Corp. “While North Country remains focused on the development of the Three Bluffs gold deposit, the ongoing exploration of the entire belt and development of numerous mining centres and satellite resources remains as North Country’s longer term objective” added Mr. Williamson.
Naqsaq, located 75km northeast of the Three Bluffs gold deposit, occupies a similar geological trend and is comprised of a similar sulphidized iron formation to that at Three Bluffs with samples assaying up to 24.2 gAu/t (Figure 1). 2011 samples of 8.29 gAu/t, 7.93 gAu/t, 2.96 gAu/t, 2.31 gAu/t and 1.09 gAu/t complement 2010 results of 24.2 gAu/t and 2.94 gAu/t and now define a mineralized area with over 75m of strike. This area is coincident with a 1.3km long regional positive magnetic anomaly, which is immediately adjacent to a significant regional structural dislocation. The tenor of samples received to date and presence of key structural elements suggest potential for a significant gold system at the Naqsaq target.
Maro, located 45km southwest of the Three Bluffs gold deposit includes two linear glacially transported boulder trains that previously assayed up to 18.18 gAu/t. New 2011 boulder sampling of intensely altered and sulphidized mafic and ultramafic volcanic rocks in this area have yielded assays up to 4.47 gAu/t and 1.53 gAu/t. A new mineralized outcrop has been located 2.3km south of the second boulder train and has yielded assays up to 1.19 gAu/t. This outcrop is coincident with strong positive electromagnetic and magnetic anomalies which delineate a regional fold structure and encompass at least 6km of prospective, potentially mineralized stratigraphy within the Maro area.
Prospector, located 17km north of the Three Bluffs gold deposit contains more than 18 samples with grades between 1.04gAu/t and 12.55 gAu/t over a 800m x 800m area within a folded, altered and sulphidized iron formation. Samples collected in 2011 with gold grades of 4.99 gAu/t and 4.97 gAu/t extend the strike of the Prospector prospect a further 500m northwest, coincident with stratigraphic trends defined by magnetic and electromagnetic anomalies. Prospector occupies part of the larger A-P Trend - a 12km x 5km segment of the Committee Bay Greenstone Belt containing four gold prospects and yielding more than 60 rock samples with grades greater than 1 gAu/t and up to 18.6 gAu/t. Ongoing expansions of prospects within this broad-scale gold system have excellent potential to provide additional satellite gold resources to complement the Three Bluffs Project.
A detailed ground magnetic survey (32 line kilometres at 120 metre line spacing) was completed over the western strike extension of the Walker Lake Trend, west of the Hayes prospect and Antler and Three Bluffs deposits (Figure 2), in order to delineate the subsurface expression of the Three Bluffs mineralized units along strike. The survey confirms that the mineralized units continue undercover for at least another 1.5km west of Hayes and remain open to the west. The survey will be used to target further exploration drill holes in 2012.
Please click on the links provided below to view the addressed figures.
Figure 1: http://northcountrygold.com/_resources/NCG-NR---Oct-24-2011-1.jpg
Figure 2: http://northcountrygold.com/_resources/NCG-NR---Oct-24-2011-2.jpg
About North Country Gold Corp.
North Country Gold Corp. controls one of the largest under-explored greenstone belts in Canada with numerous drill-ready high-grade gold targets. The gold-rich Committee Bay Greenstone Belt is located 180km northeast of the of Agnico Eagle’s Meadowbank gold mine. The Three Bluffs deposit is geologically comparable, with similar grades, type of mineralization and age as Meadowbank. The Company holds 100% interest in 530,630 acres along the 300km belt and has identified 5 distinct mineral development centers, focusing in on the Three Bluffs deposit.
North Country Gold Corp. will be releasing an updated resource estimate in Q1 of 2012.
North Country Gold Corp. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Peter Kleespies, M.Sc., P.Geol. who is the Qualified Person as defined by NI 43-101. A detailed description of North Country Gold Corp.’s QA/QC program is provided on the Company’s website at www.northcountrygold.com.
North Country Gold Corp. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.
On behalf of the Board,
North Country Gold.
For more information on North Country Gold, please visit the company’s website: www.northcountrygold.com or contact:
Vice President of Corporate Development and Director
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This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward-looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com