|October 03, 2011|
Drilling started at Newton Gold Project
|Vancouver, British Columbia (October 3, 2011) -- Newton Gold Corp. ("Newton Gold" or the "Company") is pleased to announce that drilling has started on the 1,487 square kilometre Newton Project located in central B.C. approximately 100 kilometres southwest of Williams Lake. The Newton Project is a Joint Venture between Newton Gold and Amarc Resources with Newton contributing 20%. |
Permits are in place for up to 25 drill holes with the first drill holes to test the potential extension of mineralization encountered in drill hole 11040. Drill hole 11040 established that mineralization extends eastward under shallow cover and remains open to the east as it returned an average of 0.58 g/t gold over 155 metres starting from surface, including 26 metres averaging 1.12 g/t gold and 39 metres averaging 0.71g/t gold.
In addition, extensive ground geophysics has started on the southern portion of the project. If geophysical anomalies are identified, follow-up work will consist of soil sampling and prospecting.
"We are very excited to be undertaking this first drill program as partners with Amarc. Being able to drill in a known area with the potential for significant widths of gold-copper mineralization in conjunction with geophysics and early stage exploration elsewhere within the same property speaks volumes regarding the size and potential for the Newton Project," stated Mark McLeary, president of Newton Gold.
The Newton Project has the potential for the discovery and development of a significant epithermal gold and gold-copper porphyry-type deposit. Highlights from the Phase 2 drilling include important intercepts in hole 11040 that is located 200 metres to the east of the discovery drilling area, which includes hole 9001 with 69 metres averaging 1.41 g/t gold; hole 9003 with 128 metres averaging 0.84 g/t gold and hole 9004 with 190 metres averaging 1.56 g/t gold (see news release dated February 10, 2011).
About Newton Gold Corp.
Newton Gold Corp. is a British Columbia focused exploration company with two advanced exploration projects. The Company has an experienced management team with a growth strategy to develop a diversified portfolio of mining projects that can be taken into production. The company's main objective is to add shareholder value through efficient exploration, strategic acquisitions and joint ventures, and effective marketing while maintaining a lower risk profile through project diversification and sound financial management.
ON BEHALF OF THE BOARD OF DIRECTORS
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking and other Cautionary Information
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 other related events or developments 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, exploration and exploitation 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, 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.
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