Golden Share Mining Corporation
TSX VENTURE : GSH

Golden Share Mining Corporation

September 23, 2009 09:00 ET

Golden Share Mining Corporation: IP Survey Defines Drill Targets at Depth on Malartic Lakeshore

MONTREAL, QUEBEC--(Marketwire - Sept. 23, 2009) - Golden Share Mining Corporation ("Golden Share")(TSX VENTURE:GSH) is pleased to report positive induced polarization ("IP") results from its recent geophysical survey on the Malartic Lakeshore property, Quebec, Canada.

A detailed IP survey was executed in July 2009 with the objective to define the depths extensions of the auriferous mineralization recognized on the RLM prospect, a 320 m long by 50 m wide mineralized zone comprising a network of gold bearing quartz veins. Two previous drilling campaigns targeting the RLM prospect were executed by Golden Share.

The fall 2008 drilling confirmed the high grade nature of the mineralization :

- ML-08-23 : 15.27 g/t Au over 1.20 m from 76.40 to 77.60 m

- included in 2.59 g/t Au over 8.40 m from 75.60 to 84.00 m

- ML-08-28 : 123.50 g/t Au over 0.50 m from 24.30 to 24.80 m

- included in 39.84 g/t Au over 1.60 m from 24.30 to 25.90 m

The spring 2009 drilling confirmed the widening of the mineralization at depth :

- ML-08-11 : 0.18 g/t Au over 25.70 m from 254.15 to 279.85 m

- including 1.17 g/t Au over 0.55 m from 255.35 to 255.90 m and 0.53 g/t Au over 4.10 m from 272.00 to 276.10 m

The spring 2009 drilling results are particularly significant as zone 66 intersected in hole ML-08-11 is the widest mineralized interval intersected to this date in the history of the Malartic Lakeshore property and contains internal sections displaying intense quartz veining with up to 8% pyrite, 4% chalcopyrite and 1% galena. Moreover, hole ML-08-11 was the last drill hole of the spring 2009 campaign and the only one to intersect the new zone 66.

Golden Share contracted Insight Geophysics Inc. of Oakville, Ontario, to execute an Insight Section Array / Tuned Gradient Array induced polarisation and resistivity survey over 7.2 line km to cover the RLM prospect and its immediate extensions. Specific testing was executed in areas with a high density of drilling information and demonstrated a very good correlation between zones of intense auriferous quartz veining and higher resistivity measurements. The IP survey confirmed the vertical extension of the mineralized system at depth and clearly outlines deeper drill targets associated with resistivity highs characteristic of quartz veining. Chargeability anomalies, indicative of the probable presence of sulphides, are also associated with some of the resistivity anomalies. See attached figure: http://media3.marketwire.com/docs/sgold.pdf

Philippe Giaro, President and CEO, stated "We are very encouraged by these IP results as they confirm the vertical continuity of several high resistivity corridors which correlate very well with quartz veining near surface. The discovery of zone 66 in the spring of 2009 confirmed the exploration potential of the property at depth which is now further validated by these recent IP results. As demonstrated by the Lapa, Sigma and Laronde orebodies, economic mineralization of the Val d'Or - Malartic mining camp show a recognized vertical continuity up to a depth of 2,900 m. Given that the Malartic Lakeshore property is virtually untested below the 185 m level, its potential remains wide open at depth".

Drill target generation is now in progress and Golden Share anticipates the resumption of drilling on Malartic Lakeshore within the next 45 days.

The property is situated in Quebec's Val d'Or mining camp and is located 5 km east of Agnico Eagle's Lapa mine and 6 km north of Osisko's Canadian Malartic project. The property sits on the Norbenite-Marbanite deformation corridor, a second order structure to the Cadillac break, which hosts the Kierens, Norlatic and Marban past producing mines. Golden Share controls 5 km of this geologically favourable structure host to numerous mines and gold showings.

Golden Share's exploration programs are under the supervision of Mrs. Laurence Huss, P. Geo., and Vice-President Exploration. Philippe Giaro, P. Geo., President and CEO of Golden Share Mining Corporation and Qualified Person for Golden Share, has reviewed and approved the content of this release.

FOR MORE INFORMATION, CONSULT http://www.goldenshare.ca

Neither 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.

Contact Information

  • Golden Share Mining Corporation
    Philippe Giaro
    President & CEO
    32-473-52-30-29
    phgiaro@skynet.be
    or
    Golden Share Mining Corporation
    Denis Tremblay
    Vice-President
    1-514-866-4224
    info@goldenshare.ca
    or
    CHF Investor Relations
    Cathy Hume, CEO
    1-416-868-1079 x231
    cathy@chfir.com