Intersections Include 33.9 g/t Au Over 1.0 Metre and 8.75 g/t Au Over 4.0 Metres
Toronto, Ontario CANADA, June 09, 2011 /FSC/ - Hy Lake Gold Inc. (HYL - CNSX, HYK - FWB),is pleased to announce the results of its Spring 2011, 2,153 metre drilling program at its 100% owned Red Summit Mine property. The Property is situated 16 km west northwest of the Town of Red Lake and is 20 km due west of Goldcorp's Red Lake Mine in Balmertown.
The nine-hole program was designed to follow up on drilling completed by Hy Lake Gold on the property in 2008 (see news release of March 16, 2011). The 2008 drilling focused on testing the mineralized zone at the Red Summit Mine, both along strike and downdip of the historical underground workings. High-grade mineralization was intersected in a 100-metre step out from the workings and indicated that the mineralization may extend beyond the known zones.
The 2011 spring drill program tested additional targets within the southwest plunge of the mineralized zone, outside of the Red Summit Mine workings, to the south-east.
* Hole HYR-08-35 returned 33.9 g/t Au (0.99 oz/ton) over 1.0 metre, 27.3 g/t Au (0.8 oz/ton) over 1.0 metre, and 8.75 g/t Au over 4 m (composite)
* Hole HYR-08-32 returned 13.6 g/t (0.4 oz/ton) Au over 1 metre, 10.4 g/t (0.3 oz/ton) Au over 1 metre, 9.5 g/t Au over 2.0 metres (composite)
* Hole HYR-08-36 returned 10.6 g/t Au (0.31 oz/ton) over 1.0 metre and 6.8 g/t (0.2 oz/ton) Au over 1 metre
* Proven Gold Mineralization envelope extends at least 150 m south-east of the mine workings with the north-east width of about 200 m. It is also open to depth and to the south-west
Drill summary table with the assays above 1.0 g/t Au. More than 200 low assay values (0.1-1 g/t Au) were intercepted in all 9 holes which are not included in the table.
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Red Summit Significant Assays ( Au > 1 g/t), spring 2011
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HID From To Width, m* Au, g/t Au, oz/ton
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Hy-11-32 33 34 1 1.25 0.04
Hy-11-32 and 92 93 1 1.33 0.04
Hy-11-32 and 94 95 1 2.55 0.07
Hy-11-32 and 98 99 1 3.08 0.09
Hy-11-32 and 103 104 1 1.45 0.04
Hy-11-32 and 113 114 1 2.54 0.07
Hy-11-32 and 118 119 1 2.42 0.07
Hy-11-32 and 120 121 1 1.47 0.04
Hy-11-32 composite 122 124 2 9.49 n/a
Hy-11-32 including 122 123 1 5.38 0.16
Hy-11-32 and including 123 124 1 13.60 0.40
Hy-11-32 composite 129 132 3 6.84 n/a
Hy-11-32 including 129 130 1 3.48 0.10
Hy-11-32 and including 130 131 1 6.62 0.19
Hy-11-32 and including 131 132 1 10.40 0.30
Hy-11-32 and 137 138 1 8.30 0.24
Hy-11-33 44 45 1 1.01 0.03
Hy-11-33 and 76 77 1 1.42 0.04
Hy-11-33 and 99 100 1 1.58 0.05
Hy-11-33 composite 114 119 5 1.71 n/a
Hy-11-33 including 114 115 1 5.15 0.15
Hy-11-33 and including 117 118 1 2.20 0.06
Hy-11-33 and including 118 119 1 1.19 0.03
Hy-11-33 and 147 148 1 7.37 0.21
Hy-11-34 231 232 1 1.04 0.03
Hy-11-34 and 232 233 1 1.70 0.05
Hy-11-34 and 233 234 1 1.30 0.04
Hy-11-34 and 236 237 1 1.38 0.04
Hy-11-35 composite 28 32 4 8.75 n/a
Hy-11-35 including 28 29 1 33.90 0.99
Hy-11-35 and including 31 32 1 1.08 0.04
Hy-11-35 107 108 1 27.30 0.80
Hy-11-36 40 41 1 6.79 0.20
Hy-11-36 and 139 140 1 10.60 0.31
Hy-11-38 253 254 1 1.31 0.04
Hy-11-38 and 256 257 1 1.58 0.05
Hy-11-39 88 89 1 1.57 0.05
Hy-11-39 and 89 90 1.42 0.04
Hy-11-39 and 175 176 1 1.86 0.05
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*Lengths reported are core intersection lengths and do not represent true widths.
All drill holes were logged and sampled at Hy Lake Gold's Mount Jamie field camp. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream as part of Hy Lake Gold's quality control/quality assurance program. Assaying was done by ActLabs at their laboratory in Red Lake. Gold analyses were performed by fire assay, however higher grade (>5 g/t Au) samples were analyzed with a gravimetric finish.
Discussion of the results:
The gold mineralization envelope extends for at least 150 metres south-east of the mine workings, with a north-east width of about 200 metres, and has only been explored to a depth of 300 metres (see Figures 1 and 2). It is open at depth and along strike to both the south-west and north-east.
On a local scale, significant gold values were associated with thin subvertical quartz veins or stringers, with intensive alteration (chloritization, carbonatization) and accompanying pyritization of the host rocks. There is no strict lithological control of the mineralization. High assays were returned from each of diorites/grano-diorites, mafic metavolcanics and ultramafic metavolcanics. On a property scale, analysis suggests that mineralized envelopes containing the vein sets tends to lie mainly close to and within the contacts between felsic intrusive (quartz diorite) and mafic/ultramafic volcanic sequence. Mechanical contrast between these sequences likely played an important role in developing the vein and voids framework for gold mineralization to occure during the protracted and complex deformational history of the Pipestone Bay - St Paul Bay Deformation Zone.
The Red Summit Mine property structural environment is very similar to Mount Jamie Mine property where Hy Lake Gold has recently discovered several new trends of significant gold mineralization (see News Release of April 14, 2011).
Based on Hy Lake Gold's current exploration model and drilling success, the Red Summit Zone, Rowan Zone, West Red Lake Zone, Headache Zone, Mount Jamie Zones and the North Jamie Zone likely belong to a single family of nearly vertical, east-west and/or ESE-WNW trending gold-bearing vein systems. Hy Lake Gold's current unimpeded exploration horizon along these vein systems, within the deformation corridor, is approximately 12 kilometres.
Future exploration will focus on testing the areas between known mineralization zones on the Hy Lake - Goldcorp Joint Venture Property, as well as on expanding the Red Summit vein system both to the south-west and north-east as well as down-dip.
Vadim Galkin, P.Geo., VP Exploration for Hy Lake Gold, who is a qualified person under the definition of National Instrument 43-101, has reviewed the technical information contained in this press release.
About Hy Lake Gold Inc.
Hy Lake Gold is a well financed Toronto-based mineral exploration company focused on the gold exploration and development business in the prolific Red Lake Mining District of Northwestern Ontario, Canada. Hy Lake Gold has assembled several significant property packages totalling approximately 3,300 hectares in west Red Lake. The properties cover a 12 kilometre distance along the west Red Lake Trend, containing 3 former producing gold mines, and the Company continues to explore these properties both along strike and at depth. To find out more about Hy Lake Gold Inc. (CNSX: HYL; FRANKFURT: HYK) visit our website at
www.hylake.com. Shares Issued: 41,649,148
On behalf of the board:
Mr. Robert B. Seitz, President& C.E.O.
office@hylake.com
Forward-Looking Statements
This release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements with respect to exploration activities and results (including the timing of results), the timing and success of exploration activities generally, permitting timelines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcomes of any pending litigation and timing and results of future resource estimates or future economic studies, and in particular include statements with respect to the timing of the reporting of drilling results at Rowan Lake and the other properties. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects", or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", anticipate", "does not anticipate", or "belief", or describes a "goal" or variation of such phrases or state that certain actions, events or results "may", "could", "would", or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including the result of drilling and exploration activities, the expected geological conditions or formations are not located, that contracted parties provide goods and/or services on the agreed timeframes, that the equipment necessary for the exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration. Although Hy Lake has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurances that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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