Carlin Gold Corporation
TSX VENTURE : CGD

September 16, 2013 09:00 ET

Carlin Starts Cortez Summit Core Drilling Program

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2013) - Carlin Gold Corporation (TSX VENTURE:CGD), ("Carlin" or the "Company") is pleased to report that it has initiated a core drilling program on its Cortez Summit property ("Cortez Summit" or the "Property"), Eureka County, Nevada. The program will consist of entering and deepening one or two of the reverse circulation holes completed in 2012 on the west side of the Property and is designed to test deeper parts of the stratigraphic section. The two existing holes are vertical and are 1500 feet (457 m) and 1760 feet (536 m) deep. Approximately 1500 foot (457 m) deepening extensions are planned. The 2012 reverse circulation drilling confirmed Carlin-type geology, alteration and geochemistry in the limited area tested, and encountered Carlin-type pathfinder elements in six of the seven holes drilled. One of the deeper holes penetrated and bottomed in a 300 foot (90 m) interval of variably laminated calcareous siltstones. Carlin geologists have tentatively assigned this calcareous unit to the Devonian Horse Canyon Formation, which overlie the rocks believed to host the bulk of gold mineralization at Barrick Gold Corporation's neighboring new Goldrush discovery. Goldrush lies less than a mile from the southwest corner of the Property.

Cortez Summit is centrally located in Eureka County on the Cortez Trend, in the middle of what has become the most active gold exploration area in Nevada. The Property consists of 142 100%-owned unpatented claims located in the southern Cortez Mountains between the historic Buckhorn and Horse Canyon mines. The east edge of the Property lies 2/3 mile (1 km) west of the Buckhorn mine, and the west edge of the Property lies 1.5 miles (2.5 km) east of the Horse Canyon mine. Barrick's Cortez Hills operation (11 million oz gold pre-production reserve/resource) lies 4 miles (6.4 km) west of the Property. Goldrush has grown rapidly since the initial announcement on September 7, 2011 which stated a 3.5 million ounce inferred resource with a grade of 0.123 oz per ton gold (4.2 grams/tonne). As at December 31, 2012, the estimated resources reported by Barrick stood at 14.1 million ounces, with a grade of 0.129 oz per ton gold (4.4 grams/tonne). The resource is open in several directions. Barrick has stated that the geology at the new discoveries is similar to its other deposits in the district. Barrick has announced that they are advancing the project through prefeasibility and has stated that a number of development options are being considered (Barrick Q2 2013 report).

CARLIN'S PROPERTIES

Carlin owns three projects in northern Nevada including Cortez Summit, all of which represent Carlin-type gold targets. The JDS property consists of 77 100% owned unpatented claims located in Eureka County, approximately 13 miles southeast of Cortez Summit. The Willow property consists of 89 100% owned unpatented claims located in northeast Nevada, northwest of the new 2.6 million ounce Long Canyon gold discovery in the Pequop Mountains, owned by Newmont Mining Corporation.

Carlin also owns approximately 82,000 hectares (315 square miles) distributed over 12 project areas in Yukon, in a 50/50 joint venture with Constantine Metal Resources Ltd (TSXV: CEM). The properties are early stage, with the initial field evaluation program completed in 2011. Several significant gold anomalies have been identified to date.

"K. Wayne Livingstone"

Notes:

Robert Thomas CPG, Vice President of Carlin and a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this news release on behalf of Carlin.

Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements")." Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Carlin's expectations include availability of capital and financing in connection with future private placement, regulatory approval, actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

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 news release.

Contact Information

  • Carlin Gold Corporation
    K. Wayne Livingstone
    President and Chief Executive Officer
    (604) 638-1402
    (604) 608-3878 (FAX)
    www.carlingold.com