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TORONTO, ONTARIO–(Marketwire – Feb. 17, 2012) – Carlisle Goldfields Limited (TSX:CGJ) (the “Company” or “Carlisle”) announces further assay results from the MacLellan Mine Project in Northwest Manitoba near the Town of Lynn Lake where the Company has completed a 45,000 metre diamond drilling program. The results from the drill program address 3 areas: (1) the MacLellan Mine, (2) the Western Extension and (3) the Bruichladdie Zone (please see the maps below).
The Company published a National Instrument 43-101 (“NI 43-101”) compliant resource on just the MacLellan Mine in August 2010 (see summary at the end of this release). This recent drill program has provided the Company with enough information across the MacLellan Mine Project, including the Western Extension, to calculate a new compliant resource which will be published in Q1 2012.
Peter Karelse, P.Geo, the Company’s Vice-President of Exploration commented “The resource development drilling at the MacLellan Mine Project continues to demonstrate the continuity encountered previously in relatively undrilled or under-drilled areas.”
Bruce Reid, President of Carlisle stated, “Management is optimistic that all the results from this drill program will significantly add to the critical mass and quality of the MacLellan Mine Project resource when a new NI 43-101 compliant resource is compiled. We expext the report to be completed soon.”
The results from the drilling of these areas are summarized in Table 1 below. Please note that the Company has not included any results below 1 gram/tonne as there were too many to report. These zones, however, will be included in the forthcoming new NI 43-101 resource where Carlisle will be utilizing a 0.4 grams/tonne cut-off as compared to 1 gram/tonne cut-off in the 2010 resource calculation.
The MacLellan Mine drilling program continues to deliver positive results in areas that were either not drilled or were under-drilled and consequently not included in the past NI 43-101 resource calculation. This recent drilling program significantly filled in most of those gaps.
The Western Extension drilling addresses the area to the west of the defined resource area up to the Keewatin River and lying predominantly in the walls of the preliminary pit design. This drilling confirms the continuation of the resource style mineralization to the east side of the River. This zone will add over 400 metres of strike to the MacLellan Mine Project resource. In fact, this zone is just the western continuation of the MacLellan Mine.
The Bruichladdie Zone drilling was focused on the area extending to the west from the Keewatin River in line with the strike of the MacLellan Mine and the Western Extension mineralization. The drilling was exploratory in nature and follows up on the continuation of the induced polarization chargeability signature associated with the MacLellan Mine, and historic geochemical results. This exploratory drilling confirms the extension of the MacLellan Resource mineralization style over a strike distance of more than 2 kilometres. This zone will be included in a future compliant resource calculation when the drilling has sufficient density. The Company may get back to drilling this zone later in 2012 depending on the Company’s reassessment of the priorities based on the success of the current drill program in other areas around Lynn Lake.
The South Zone drilling which was previously reported focuses on an area approximately 400 metres to the south of the MacLellan Mine following up on sparse historic drilling. This South Zone was drilled as it exhibited a moderate induced polarization chargeability signature similar to the MacLellan Mine. This zone has significant gold mineralization but will not be included in the new NI 43-101 resource currently underway as Management is not sure of the configuration of the zone.
Please see below both a plan map of the MacLellan Mine Project as well as a Long Section view through the main zones in this area. The Long Section includes most of the drill hole intersections.
To view the MacLellan Mine Project Map, and the Long Section of MacLellan Mine Project Map, please visit the following link:http://media3.marketwire.com/docs/MacLellan_Project_Maps.pdf.
