International Wayside Gold Mines Ltd.
TSX VENTURE : WYG
FRANKFURT : IWUB

International Wayside Gold Mines Ltd.

July 06, 2009 10:26 ET

International Wayside Gold Mines Ltd.: Drill Program Discovers 250 Foot Replacement Style Mineralized Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 6, 2009) - The Board of Directors of International Wayside Gold Mines Ltd. (the "Company") (TSX VENTURE:WYG)(FRANKFURT:IWUB) announces that results of ten surface diamond drill holes totaling 1,761.2m (5,778.0 feet) on the Goldfinch Zone, 700 feet mine grid west of the proposed Bonanza Ledge mine on Barkerville Mountain were returned with some encouraging gold values (Table 1). Details of a new phase of drilling at Barkerville Mountain beginning today (July 6, 2009), are forthcoming.

Targeting a Bonanza Ledge style of pyrite replacement gold mineralization, the drill program was designed using geo-statistics or geo-mathematics, which comprehensively considers geology (lithology, structure, alteration and mineralization), geochemistry (soil anomalies) and geophysics (IP, SP and magnetic surveys) on and between the Goldfinch and Bonanza Ledge Zones at Barkerville Mountain. Comparisons of the two zones show their similarity is over 98%.

Most of the drill holes successfully intercepted fine-grained pyrite replacement zones in the Lowhee Unit, which hosts the Bonanza Ledge gold deposit. The drill results prove that large replacement style mineralized zones containing high-grade fine grained pyrite up to 250 feet thick exist in the Goldfinch Zone. A geological evaluation is underway due to the fact that not all of the pyrite replacement bodies carry gold.

An additional purpose of the drilling program is to have a better understanding of the geology at depth, the relationship between the gold mineralization zone and the pyrite replacement mineralization, pyrrhotite halo and fuchsite alteration, and the mineralization intensity at depth. In order to realize this, three long drill holes up to 356.0m (1,168 feet) each were conducted.

Further drilling will take place between the Lowhee Fault and Goldfinch Fault in the coming exploration season targeting Bonanza Ledge and quartz vein style of gold mineralization. This area has approximately the same geological setting as that of Bonanza Ledge gold deposit.



Table 1. SURFACE DRILL RESULTS

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From To Width Au Ag
# DDH Depth ------------------------------------------------------
(feet) feet feet m g/T oz/t g/T
---------------------------------------------------------------------------
---------------------------------------------------------------------------
1 BC08-01 516.0 26.0 36.0 10.0 3.0 0.24 (0.28) 0.007 (0.008) N/S
(i)
--------------------------------------------------
36.0 40.3 4.3 1.3 2.24 (2.44) 0.065 (0.071)
--------------------------------------------------
46.0 55.6 9.6 2.9 0.15 0.004
--------------------------------------------------
55.6 60.2 4.6 1.4 0.66 (0.67) 0.019 (0.020)
--------------------------------------------------
66.0 69.0 3.0 0.9 0.42 0.012
--------------------------------------------------
87.0 88.2 1.2 0.4 1.27 (1.37) 0.037 (0.040)
-------------------------------------------------------
184.3 186.0 1.7 0.5 N/S(i) 1.4
------------------------ ---
332.5 333.6 1.1 0.3 1.0
-------------------------------------------------------
386.0 387.7 1.7 0.5 0.10 0.0 N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
2 BC08-02 456.0 12.9 29.1 16.2 4.9 0.15 0.005 N/S
(iii) (iii)
-------------------------------------------------------
29.1 30.1 1.0 0.3 34.3 (35.8) 1.000 (1.044) 1.2
-------------------------------------------------------
30.1 39.7 9.6 2.9 0.15 0.004 N/S
(iii) (iii)
-------------------------------------------------------
39.7 41.4 1.7 0.5 1.24 (1.28) 0.036 (0.037) N/S
-------------------------------------------------------
41.4 57.5 16.1 4.9 0.14 0.004 N/S
(iii) (iii)
-------------------------------------------------------
57.5 66.0 8.5 2.6 2.64 (2.48) 0.077 (0.072) N/S
-------------------------------------------------------
66.0 69.9 3.9 1.2 0.74 0.021 N/S
(iii) (iii)
-------------------------------------------------------
89.7 96.0 6.3 1.9 2.54 (2.68) 0.074 (0.078) N/S
-------------------------------------------------------
96.0 103.1 7.1 2.2 0.10 0.003 N/S
-------------------------------------------------------
106.0 114.0 8.0 2.4 0.64 0.019 N/S
-------------------------------------------------------
196.0 196.7 0.7 0.2 N/S 1.1
------------------------ ---
371.5 376.0 4.5 1.4 3.6
---------------------------------------------------------------------------
---------------------------------------------------------------------------
3 BC08-03 206.0 N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
4 BC08-04 336.0 38.1 76.0 37.9 11.6 0.16 0.004 N/S
(iii) (iii)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
5 BC08-05 406.0 91.3 91.8 0.5 0.2 N/S 1.1
-------------------------------------------------------
183.1 186.0 2.9 0.9 2.38 (2.49) 0.069 (0.073) N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
6 BC08-06 426.0 70.3 76.0 5.7 1.7 1.32 0.039 N/S
-------------------------------------------------------
146.0 156.0 10.0 3.0 0.18 0.005 N/S
-------------------------------------------------------
336.0 346.0 10.0 3.0 0.10 0.003 N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
7 BC08-07 405.0 127.3 128.0 0.7 0.2 0.13 0.004 N/S
-------------------------------------------------------
155.0 165.0 10.0 3.0 0.10 0.003 N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
8 BC08-08 1,006.0 306.0 308.4 2.4 0.7 0.12 0.004 N/S
-------------------------------------------------------
396.0 406.0 10.0 3.0 0.18 0.005 N/S
-------------------------------------------------------
476.0 496.0 20.0 6.1 0.30 0.009 N/S
(iii) (iii)
-------------------------------------------------------
506.0 516.0 10.0 3.0 0.30 0.009 N/S
-------------------------------------------------------
526.0 546.0 20.0 6.1 0.12 0.004 N/S
(iii) (iii)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
9 BC08-09 856.0 96.0 106.0 10.0 3.0 0.15 0.004 N/S
---------------------------------------------------------------------------
---------------------------------------------------------------------------
10 BC08-10 1168.0 205.0 225.0 20.0 6.1 0.13 0.004 N/S
(iii) (iii)
---------------------------------------------------------------------------

Note: (i) assay(repeat//resplit); (ii) N/S: no significant assay;
(iii) weighted


The Company initiated operations in the Cariboo District in 1994 and since that time has focused on the exploration and development of its gold properties. Mineral tenures in the Historic Cariboo Goldfields encompass approximately 1,065 square km (106,484 hectares) over a 60 km long by 20 km wide belt. In the Barkerville Gold Camp, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining.

Wayside is in the process of acquiring the QR Mine and 900 tonne per day QR Mill, which was fully operational until February 2009 (now on care and maintenance). The QR Mill is a CIP mill designed for an output of 70,000 ounces of gold per annum for that location. The mill is 110 km by road from Wayside's Cariboo Gold Project and proposed Bonanza Ledge Mine.

The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.

On Behalf of the Board of Directors

J. Frank Callaghan, President

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

  • International Wayside Gold Mines Ltd.
    Andrew H. Rees
    Director
    604 669-6463 or Toll Free: 1-800 663-9688
    604 669-3041 (FAX)
    www.wayside-gold.com