FDG Mining Inc.

FDG Mining Inc.

April 09, 2012 13:53 ET

FDG Mining Extends Topacio Vein Mineralization Along Strike in Nicaragua

TORONTO, ONTARIO--(Marketwire - April 9, 2012) - FDG Mining Inc. ("FDG" or the "Company") (TSX VENTURE:FDG) is pleased to provide an update of the ongoing drill program at the Company's Topacio concession in Nicaragua and to announce assay results from ten core holes drilled outside of the inferred resource (680,000 tonnes of 5.2 g/t gold and 34 g/t silver) to test the limits of the Topacio vein system. Four holes drilled along strike from the resource extended mineralization approximately 170 meters to the southwest and 90 meters to the northeast. To date, drilling on the Topacio vein has intercepted gold and silver mineralization over a strike length of approximately 1,150 meters. Mineralization remains open at depth and open along strike to the northeast.

Ninety meters southwest of the most southwesterly resource hole, Triton's 96-33, holes 12-09 and 12-10 encountered weak mineralization. An additional 90 meters to the southwest hole 12-11 drilled a thick intercept of 16.7 meters grading 2.27 g/t gold and 5.6 g/t silver. The intercept lies 75 meters below the surface and 50 meters below the more moderate intercept in hole 12-12 (2.86 meters of 1.09 g/t gold and 5.57 g/t silver) suggesting that mineralization may improve with depth at this location. Ninety meters farther to the southwest, hole 12-16 intercepted 2.1 meters grading 1.52 g/t gold and 18.03 g/t silver, which is undercut by weak mineralization in hole 12-13. Hole 12-15, drilled 115 meters further west, well beyond any surface indication of veining, is essentially barren and may have closed off the system to the southwest.

At the northeast end of the inferred resource hole 12-17 confirms the mineralization intercepted by Triton in drill hole 96-11. The ore grade intercept in hole 12-18 (2.5 meters of 4.56 g/t gold and 27.14 g/t silver) extends mineralization another 110 meters to the northeast leaving the system completely open in that direction.

FDG has thus far drilled 23 core holes for 2,895 meters of the planned 4,000 meter program on the Topacio, Brasil, Dos Amigos and Mico veins. With the completion of hole 12-18, the Company began testing vein systems other than the Topacio. Four holes have been completed on the Brasil vein located 500 meters southeast of and parallel to the Topacio vein. The four holes intercepted well developed zones of quartz veining, stockwork and argillic alteration over a strike length of 300 meters. One hole has been completed on the Dos Amigos vein 250 meters northwest of the Topacio vein. Assay results are pending for all five holes.

All thicknesses quoted in the text and in the following table are based on downhole depth measurements and therefore represent apparent thickness. True thickness of the intercepts will be relatively reduced.

DRILL HOLE FROM (m) TO (m) INTERVAL (m) Au g/t Ag g/t
12-07 158.00 161.00 3.00 0.30 2.23
12-09 38.69 42.96 4.27 0.11 3.61
12-10 82.50 84.86 2.36 0.12 1.59
12-11 75.00 91.71 16.71 2.27 5.60
including 80.13 89.90 9.77 3.58 7.81
including 85.80 87.88 2.08 10.09 17.31
including 87.00 87.88 0.88 15.48 24.00
12-12 32.14 36.00 3.86 0.92 4.80
including 33.14 36.00 2.86 1.09 5.57
including 34.20 36.00 1.80 1.39 6.73
12-13 67.00 68.00 1.00 0.13 8.30
and 113.00 122.00 9.00 0.38 2.04
including 116.00 120.00 4.00 0.50 2.15
12-15 38.40 40.00 1.60 0.07 0.50
and 64.50 65.20 0.70 0.05 1.90
12-16 58.50 69.80 11.30 0.40 5.44
including 65.70 67.80 2.10 1.52 18.03
including 65.70 66.00 0.30 4.06 39.00
12-17 86.25 92.40 6.15 0.69 2.94
including 87.50 91.00 3.50 1.08 3.41
including 87.50 88.50 1.00 3.24 8.90
12-18 50.50 53.50 3.00 0.50 1.50
and 78.50 81.00 2.50 4.56 27.14

Pursuant to the Company's quality-control, quality assurance procedures, samples will be submitted for re-analysis based on their proximity to a certified reference standard that returned a gold value greater than three standard deviations higher or lower than the mean value for that standard. In addition, any two consecutive reference standards falling outside the two standard deviation threshold will be considered to have failed. Since every twentieth sample is a reference standard, ten samples above and below a failed standard will be re-analyzed. The same protocol will be applied to duplicate samples considered to have unacceptably divergent gold values. Periodically, random samples will be submitted to another laboratory as an external check on the results provided by the primary lab. The analytical results received from Inspectorate and disclosed in this news release have been reviewed by Robert Suda, P. Geo., Vice-President of Exploration of the Company and a Qualified Person as defined under National Instrument 43-101.

About FDG Mining Inc. (www.fdgmining.com)

FDG is a Canadian junior mining company engaged in acquisition, exploration and development of precious metal properties in Nicaragua. The Company is currently focused on advancing its core property, the past-producing 9300 hectare Topacio gold concession. Topacio has an NI 43-101 compliant inferred resource of 680,000 tonnes grading 5.2 g/t gold and 34 g/t silver, and a similar geological setting to B2Gold's La Libertad and El Limon mines to the northwest. FDG trades on the TSX Venture Exchange under the symbol FDG.

On Behalf of the Board of Directors

Daniel T. Farrell, President and Chief Executive Officer

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such 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 release.

Contact Information

  • FDG Mining Inc.
    Dan McIntyre
    Manager - Investor Relations
    (778) 279-3402