Ryan Gold Corp.

Ryan Gold Corp.

June 19, 2009 09:00 ET

Valdez Gold Inc. Announces Results of the Recently Completed Diamond Drill Programme on the Gaby II Claim in Chihuahua State, Mexico

TORONTO, ONTARIO--(Marketwire - June 19, 2009) - Valdez Gold Inc. (TSX VENTURE:VAZ) (the "Company") announces the results of the recently completed diamond drill programme on its Gaby II (Los Jarros) claim in Chihuahua State, Mexico.

A total of five holes were drilled for 843.9 m. Two drill holes, LJ09-01 and LJ09-02, tested the eastern, north to north-northwest trending, soil anomaly (see Figure 1 attached). Three drill holes, LJ09-03 through to LJ09-05, tested the western gold-in-soil, north-northwest trending, anomaly (see Figure 1 at the following address: http://media3.marketwire.com/docs/june09fig1.jpeg).

Mineralization intersected in the drill holes is summarized in the table below:

Incli- Mineralization
Hole Easting Northing Azimuth nation From To Width Au
(UTM) (UTM) (degrees) (degrees) (m) (m) (m) (g/t)
LJ09-01 3103601 770539 230 -50 39.70 46.70 7.00 0.42
78.70 87.85 9.15 0.54
including: 80.70 81.70 1.00 2.48
94.85 172.85 78.00 0.22
LJ09-02 3104234 770284 90 -50 No mineralization
LJ09-03 3103804 769959 100 -50 112.00 116.00 4.00 0.13
175.60 176.60 1.00 0.42
LJ09-04 3103436 770058 80 -50 90.00 96.00 6.00 0.12
LJ09-05 3104021 770064 265 -50 75.00 76.00 1.00 0.29
78.00 79.00 1.00 0.20
80.00 81.00 1.00 0.28
116.00 117.00 1.00 0.16

The eastern and western gold-in-soil anomalies are spatially associated with north to north-northwest trending structures. These structures were intersected at depth in all the drill holes except for drill hole LJ09-02. The mineralization intersected within these structural features at depth is of the same tenor as that of the gold-in-soil anomaly, that is, in the 100 ppb to 500 ppb range. Given these results, no future drilling is planned for this part of the Gaby II Claim.

In addition to the above drilling the Company has just completed a soil geochemical sampling and mapping programme on the southern portion of the Gaby II claim. Results are pending.

A follow-up stream sediment and rock chip sampling is also being conducted on the Jarros Norte claim in those streams that returned anomalous gold. This programme is on-going. As well, Company management actively continues to review new projects.

Drill core samples for assaying were taken predominantly at one meter intervals to a maximum of two metres and were cut with a diamond saw, with one-half of the core placed in sealed bags and sent to the ALS Chemex laboratory in Hermosillo, where both sample preparation and assaying was conducted. As part of the Company's QA/QC procedures, which adhere to internationally recognised norms, standards and blanks were inserted into the sample batches.

Exploration field work is supervised by Colin Carey, MAusIMM, and over-seen by Michael Skead, MAusIMM, President & CEO of the Company. Michael Skead and Colin Carey are qualified persons (as defined by National Instrument 43-101).

Information on the Company is available on the Company's website: www.valdezgold.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

  • Valdez Gold Inc.
    Michael Skead
    President & CEO