Gunpoint Exploration Ltd.

Gunpoint Exploration Ltd.

August 14, 2007 08:30 ET

Christopher James Gold Reports Initial Results From Drilling at the Ranch Project, Toodoggone District, Northern B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2007) - Christopher James Gold Corp. (the "Company") (TSX VENTURE:CJG) has received assay results for 20 of 37 holes (more than 6,000 metres) now completed of a planned 10,000-metre drilling program at the Ranch Project. Results to date confirm previous high-grade gold intersections in the Bonanza Zone, while suggesting the possibility of a significant new gold resource in the nearby Mickey Zone.

Bonanza Zone Drilling

The first 29 drill holes of this year's program were designed to test the lateral and vertical continuity of the zone of high-grade mineralization previously defined at the Bonanza Zone. The holes were drilled at between 55 and 60 degrees, on six east-west trending lines spaced 25 metres apart. The average depth of the holes was 160 metres.

Company President, Dr. E Max Baker, commented: "Drilling at the Bonanza Zone has delineated vein mineralization with an aggregate strike length of several hundred metres which will contribute to the overall aggregate resource of the Ranch Project. The Company will now commence modeling the resource at Bonanza, with independent verification by Micromine Pty Ltd."

Highlights from the first 20 drill holes from the Bonanza Zone are summarized below:

Drill From To Interval Gold Interval Gold
Hole (metres) (metres) (metres) (grams/tonne) (feet) (ounces/ton)
A07-003 42.20 58.10 15.90 4.46 52.15 0.13
including 45.20 50.50 5.30 9.34 17.38 0.27

A07-005 52.00 56.00 4.00 9.75 13.12 0.28

A07-006 20.00 47.00 27.00 3.53 88.56 0.10
including 25.00 42.00 17.00 4.59 55.76 0.13

A07-008 44.00 48.00 4.00 9.74 13.12 0.28

A07-008 53.00 61.00 8.00 3.68 26.24 0.11
including 57.00 60.00 3.00 7.48 9.84 0.22

A07-009 53.00 63.00 10.00 3.98 32.80 0.12

A07-011 48.00 55.00 7.00 5.58 22.96 0.16
including 48.00 52.00 4.00 8.31 13.12 0.24

A07-012 43.00 46.00 3.00 12.81 9.84 0.37
including 43.00 45.00 2.00 17.86 6.56 0.52

A07-012 51.00 57.00 6.00 5.15 19.68 0.15
A07-012 55.00 57.00 2.00 8.97 6.56 0.26

A07-013 33.00 40.00 7.00 4.04 22.96 0.12
A07-013 51.00 53.00 2.00 29.55 6.56 0.86

A07-016 37.00 40.00 3.00 9.07 9.84 0.26

A07-017 28.00 34.00 6.00 8.68 19.68 0.25

A07-020 5.00 25.00 19.00 2.65 62.32 0.08
A07-020 5.00 19.00 14.00 3.01 45.92 0.09

Mickey Zone Drilling

The Mickey Zone, discovered in the fall of 2006 and located midway between the Bonanza and Thesis Zones, has been tested by only two holes so far in this year's drilling. Although assay results are not yet available, both holes intersected visually-favorable mineralization over intervals up to 12 metres, at down-hole depths of up to 170 metres (approx. 120 metres vertical). The Mickey Zone structure has been traced at surface for more than 1,000 metres, indicating that the structure has potential for a significant near-surface gold resource. An induced polarization survey to delineate areas within the mapped structures considered most favorable for high grade mineralization is scheduled to commence in the next couple of weeks.

Company President, Dr. E Max Baker, commented; "The first two holes from the Mickey Zone intersected the same "vuggy silica" altered rock that, characteristically, has hosted the high-grade to bonanza-grade gold mineralization on the Ranch. Based on these initial highly-encouraging results, we will focus on the bulk of our next 4,000 metres of drilling on the Mickey Zone and the nearby Thesis Zone."

Quality Assurance and Quality Control ("QA/QC")

The 2007 exploration program and interpretation of data, was conducted under the supervision of Barney Bowen, BSc. P.Geo, a qualified person under National Instrument 43-101. This news release was prepared in conjunction with Max Baker, PhD, a member of the AusIMM and qualified person under Canadian National Instrument 43-101.

Drill core was sawn in half, with one half stored for future reference. Sampling and assaying procedures were subject to a rigorous QA/QC program, which included insertion of standards and blanks for each batch of samples. All samples were shipped in sealed packages to ALS in Vancouver for preparation and analyses.

Mineralized intervals reported are down-hole lengths and may not represent the true width of mineralization; grades are reported as weighted averages; and core recoveries were sufficiently high that no adjustments were applied to reported grades to compensate for core loss.

About Christopher James Gold Corp.

Christopher James Gold Corp. is a Canadian mineral exploration company trading on the TSX Venture Exchange, under the symbol "CJG".

The Company has approximately $7.5 million in treasury and is well-funded to explore its large portfolio of gold projects in British Columbia, Nevada, and Mexico:

- Most notably, it has the exclusive option to acquire 100% of Guardsmen Resources Inc., a private company that owns a number of highly-prospective properties in northern British Columbia, including the Ranch and Lawyers properties.

- In Durango State, Mexico, the Company has set up an exploration office with three full time geologists, and is actively looking for additional projects, while it completes this year's program on the Chesapeake Gold Corp.'s Cucaracha Dorada gold project.

- In southern British Columbia, the Company owns 100% of the copper and gold rights to the historic Craigmont mine, in addition to 100% ownership of the Brassie Creek, Big Kidd, and Portage Lake gold properties.

- In Nevada, the Company has recently completed a three-hole drill program to test for Carlin-type mineralization beneath pediment cover. Alteration with anomalous geochemical values was intersected in the carbonate rocks. Samples have been submitted for petrographic analysis to determine the stratigraphy and style of alteration.

Christopher James Gold Corp.

Dr. E. Max Baker, President and CEO

This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Readers are referred to the sections entitled "Risk Factors" in the Company's periodic filings with the British Columbia Securities Commission, which can be viewed at

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Christopher James Gold Corp.
    Dr. E. Max Baker
    President and CEO
    (604) 408-8829
    Christopher James Gold Corp.
    John Glanville
    Investor Relations
    (604) 408-8829