Golden Valley Mines: Abitibi Grassroots Exploration Program Update ...

Tag : diamond
Diamond Drill Program in Progress - Val-d'Or, Quebec: A first phasedrilling campaign is underway on the Lock-out Prospect (goldtarget: map #51) located in Clericy Township, Quebec. The companywill complete six (6) drillholes to test targets outlined by itsrecent geophysical survey and property compilation.
Pervious work on the property and surrounding area identified asurface gold showing termed "Indice II - Propriete Kino".Mineralization was described as being associated with a pyriticdioritic intrusive rock. Grab sampling results gave a best value of1.3 g/t (Ministere de l'Energie et des Ressources naturelles,documentation technique GM 50937).
Previous Drill Program: Diamond drilling at the Venus New Prospect(VMS-gold target: map #85) located in Pascalis Township, Quebec,has been completed. Drilling (725-metres) tested five (5) separategeophysical targets (please refer to the August 14, 2008 pressrelease for details). Assay results remain pending for the fivedrillholes. In addition, prospecting grab samples confirmed thehistorical vein-hosted gold mineralization with two samples grading4.66 g/t gold and 0.516 g/t gold from the "Central Vein".
The two above reported rock sample assay results were completed byALS Chemex with sample preparation in Val d'Or, Quebec and analysesat ALS Chemex in Vancouver, BC. The analytical method used was amulti element (33) ICP multi-element package, in addition to goldby a 30 g fire assay.
About Golden Valley Mines Ltd.: The Company typically tests initialgrassroots targets while owning a 100% interest and then seekspartners to continue exploration funding. This allows the Companyto continue its generative programs and systematic explorationefforts at other majority-owned grassroots projects. As ofSeptember 22, 2008, the Company holds majority property interestsin 139 projects consisting of 4,537 mining titles (261,678hectares) in Quebec, Ontario and Saskatchewan.
Michael P. Rosatelli, P. Geo. Vice-President, Exploration forGolden Valley Mines Inc., is a Qualified Person (as such term isdefined in National Instrument 43-101-Standards of Disclosure forMineral Projects), and is responsible for the geologicalinformation presented herein.
Forward-Looking Statement: This news release contains certainforward-looking statements. These forward-looking statements aresubject to a variety of risks and uncertainties beyond theCompany's ability to control or predict and are not to beinterpreted as guarantees for future performance. Theseforward-looking statements could cause actual events or results todiffer materially from those anticipated in such forward-lookingstatements. All forward-looking statements speak only as of thedate of this news release and the Company does not undertake anyobligation to update or publicly release any revisions to suchforward-looking statements to reflect events, circumstances, orchanges in expectations after the date hereof, except as requiredby law. Accordingly, readers should not place undue reliance onsuch forward-looking statements.
The TSX Venture Exchange has not reviewed and does not acceptresponsibility for the accuracy of this release.
Maps are available on Marketwire's website at the followingaddress: http://media3.marketwire.com/docs/Golden_map.pdf .