Choice Gold Corp.
CNSX : CHF
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Choice Gold Corp.

March 06, 2012 10:05 ET

Choice Gold Corp. Completes Phase 1B of Drilling at Sugarloaf Peak

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 6, 2012) - Choice Gold Corp. (CNSX:CHF)(MUN:OCG) ("Choice Gold" or the "Company") is pleased to announce that it has completed Phase 1B of reverse circulation drilling on its Sugarloaf Peak Gold Project ("Sugarloaf Peak" or the "Property") during which a total of 1,261 meters were drilled. Sugarloaf Peak is located in western Arizona within 100 km of each of the Mesquite, American Girl, and Copperstone gold deposits and revealed its own gold potential through Choice Gold's drilling and mapping program last year.

The Phase 1B program targeted areas with the potential to host high-grade gold. One of the two holes in the extension of drill hole SGL-11-04 has intersected a gouge and altered felsic crystal tuff, possibly representing an extension of the mineralised zone intersected last year that returned 1.76 g/t Au over 9.91 meters (see press release of October 6, 2011). The holes testing the Blue Schist area, where a grab sample returned 11.9 g/t Au in a silicified porphyritic phyllonite, intersected dominantly the same lithology at depth bearing up to 2% disseminated pyrite. The southernmost hole drilled in the Goodman Fault, a major structure interpreted as the extension of the fault hosting the past-producing Goodman gold mine 7 km to the northwest, intersected a dioritic dyke at the contact of lithic and crystal felsic tuffs locally altered by iron oxides. The final hole drilled in Phase 1B, SGR-12-19, intercepted 200 feet of strongly hematised volcaniclastics - such an alteration is often auriferous in the district. Hole SGR-12-10 and 17 are distinctive as their alteration is composed of strong sericitization associated with a moderate argillization at depth. Hole SGR-12-10 was collared in the vicinity of an historical RC hole reported to have intercepted 80.7 meters at 0.82 g/t Au (true thickness unknown). All the holes performed this year intersected a series of tuffs of variable composition displaying different degrees of sericite, quartz and pyrite alteration. The locations of the holes are shown on the map: http://media3.marketwire.com/docs/0306chf.jpg

"We're pleased to have the Phase 1B program completed and look forward to receiving assay results in the near future," said Gianni Kovačevic, Choice Gold's CEO. "This program will provide important information as our team continues to work towards defining a bulk-tonnage gold deposit at Sugarloaf Peak."

All the RC holes were sampled uninterruptedly from the top to the bottom of each hole at five foot intervals. Standard, blank and duplicate samples were inserted prior to shipment to the American Assay Labs in Reno, Nevada. Duplicate samples were homogenized using a universal splitter. Excess rock material is stored in at the Company's facilities in Ehrenberg, Arizona. The results of the Phase 1B drilling program are expected in March 2012 and will be published intermittently when available.

Brigitte Dejou, P.Eng., Choice Gold's Manager of Exploration, is the non-independent, Qualified Person as defined by NI 43-101, who has reviewed this news release and is responsible for the technical information reported herein.

About Choice Gold Corp.:

Choice Gold Corp. was created to acquire and advance select, high-potential mineral projects and thereby unlock shareholder value. With this goal in mind, the company has entered an option agreement with Riverside Resources Ltd. (TSX VENTURE:RRI) to acquire a 100% interest in the Sugarloaf Peak Gold Project just west of Quartzsite, Arizona. Sugarloaf Peak covers over 24 km² and was the subject of intermittent drilling and small-scale mining from the 1950s through to the 1990s. The project is the subject of an historical, non-National Instrument 43-101 compliant mineral resource and Choice Gold has a mandate to prove its economic viability. For more information about Choice Gold please visit our website at www.choicegoldcorp.com.

Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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