Golden Tag Resources Ltd.
TSX VENTURE : GOG

Golden Tag Resources Ltd.

May 06, 2009 12:09 ET

Golden Tag Continues to Intersect High Grade Gold at the Aquilon Main Gold Project, James Bay, Quebec

MONTREAL, QUEBEC--(Marketwire - May 6, 2009) - Golden Tag Resources Ltd (TSX VENTURE:GOG) is pleased to announce additional results from recent diamond drilling on the Lingo Gold Occurrence on the Aquilon Main Gold Property in James Bay, Quebec. The outcropping, high grade gold-bearing vein was tested over a strike length of 40 metres and down-dip for up to 100 metres from the vein outcrop with an additional 47 vertical holes. Drilling focused on delineation of very high grade gold 'shoots' within the vein which have now been demonstrated to be continuous and very consistent along the shallow, northeast structural plunge from surface outcrop to a vertical depth of at least 42 metres. One high grade trend was delineated with holes 2-3 metres along strike and 3-6m down plunge on the mineralized high grade corridor. Up to six additional high grade shoots, 3-5 m wide, are recognized within the Lingo Vein.

Thirteen new high-grade intersections have returned over 1.0 ounce gold per ton (34.29 g/T Au) as shown below:



Hole No. Intersection Hole No. Intersection
---------------------------------------------------------------------------
AQ-09-53 63.60 g/T Au over 0.28 m AQ-09-79 39.00 g/T Au over 0.30 m
AQ-09-55 50.30 g/T Au over 0.30 m AQ-09-88 45.60 g/T Au over 0.38 m
AQ-09-63 74.07 g/T Au over 1.63 m AQ-09-92 37.84 g/T Au over 0.81 m
including 162.50 g/T Au over 0.70 m including 57.60 g/T Au over 0.45 m
AQ-09-67 120.00 g/T Au over 0.26 m AQ-09-92 57.33 g/T Au over 0.45 m
AQ-09-69 113.07 g/T Au over 1.49 m including 50.70 g/T Au over 0.24 m
including 283.00 g/T Au over 0.37 m including 64.90 g/T Au over 0.21 m
AQ-09-70 36.70 g/T Au over 0.89 m AQ-09-94 35.30 g/T Au over 0.40 m
AQ-09-72 99.70 g/T Au over 0.19 m
AQ-09-75 35.60 g/T Au over 0.25 m


True widths are between 87% to 94% of reported core lengths. Assay results are uncut.

Forty new gold-bearing intersections with composite assay values of more than 2.0 g/T Au have been returned from the most recent 2009 drill program, as shown in Table 1.

2009 drilling focused on the principal high grade trend identified during 2008 in the Lingo Vein. High grade mineralization can be shown to be continuous and very consistent along the shallow, northeast structural plunge from the surface showing of the Lingo vein and to a vertical depth of at least 42 metres. The zone was followed for a distance of 105 metres along dip length. Although the strike length of high grade "shoots" of mineralization appears to be 3 to 5 metres, potential for up to six additional high grade pencil-like shoots are recognized within the 50 metre strike length of the exposed Lingo Vein. The zone remains open down plunge and the other remaining high grade shoots remain open for expansion.

Although many ounce-gold to multi-ounce-gold values were returned from drilling, the 2009 program did not intersect the very high grade encountered in hole AQ-08-06 in the 2008 program, which returned 3,230.89 g/T Au over 0.80 m (94.23 ounces gold per ton over 2.62 feet), including 12,906.5 g/T Au over 0.20 m (376.44 ounces gold per ton over 0.65 feet). However, the Company believes that there are similar other erratic, very high grade, coarse-free gold in the immediate vicinity of the Lingo gold occurrence. High grade mineralization is associated to shear-related highly deformed quartz veins forming pencil-like gold shoots over several metres to several tens of metres. The Company is reviewing all previous results to confirm the potential from bulk sampling of the zone.

At least 12 other gold occurrences are known on the property within the Wolf Lake Shear zone, a 300 metre wide, east-trending shear zone which has been mapped for 5 kilometers across the property. None of these occurrences have been tested with detailed drilling. The strong pencil-like structural control trending to the NE was recognized in surface outcrops in several of these additional showings.

The Company vested into a 40% interest in the property and elected to undertake a second option in 2008 to increase ownership to 60%.

A map showing the results from drilling and the locations of drill holes will be available shortly at the Golden Tag Website www.goldentag.ca.

Assay Method and Quality Control

A total of 437 half drill core samples were collected, split in half, and one half sent to a commercial laboratory for analysis and other half retained for future reference. A strict QA/QC program was followed which included mineralized standards and blanks for each batch of samples. Analytical services were provided by ALS-Chemex, Val d'Or, Quebec. Significant assay results were also duplicated at the laboratory. Samples were prepared using standard preparation procedures used by ALS-Chemex. Samples were assayed by fire assay with atomic absorption spectrometry finish on a 50 grams nominal sample weight. Samples showing visible gold were analyzed with metallic screen assays and fire assay methods with pulverization and screening on the entire sample.

The diamond drilling program was conducted under the supervision of Mr David Rigg, P.Geo. and CEO of the Company and Mr Roger Moar, Consulting Geologist, P.Geo.; Qualified Persons under National Instrument 43-101 guidelines. Both have reviewed and verified the technical content of this press release.

Golden Tag Resources Ltd. is a junior exploration company exploring for high grade gold and silver deposits at the San Diego silver project in Durango State, Mexico; the Aquilon Gold Project in James Bay, Quebec; and the McCuaig gold project in Red Lake, Ontario. Golden Tag has 39,770,958 issued and outstanding shares and no debt. Golden Tag's 50% interest in San Diego Resources represent 2.7 oz. silver equivalent per share with additional potential for increase.

Statements in the release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.



-----------------------------------------------------
-----------------------------------------------------
TABLE 1 SIGNIFICANT RESULTS GREATER THAN 2.0 g/T Au
IN THE AQUILON MAIN PROPERTY 2009 DIAMOND DRILLING
PROGRAM
-----------------------------------------------------
-----------------------------------------------------
Hole No. From (m) To (m) Length (m) Grade
(g/T Au)
-----------------------------------------------------
AQ-09-52 8.08 8.78 0.70 5.59
-----------------------------------------------------
AQ-09-53 0.00 0.68 0.68 27.60
-----------------------------------------------------
Including 0.00 0.28 0.28 63.60
-----------------------------------------------------
AQ-09-55 0.00 0.30 0.30 50.30
-----------------------------------------------------
AQ-09-60 22.91 23.51 0.60 10.37
-----------------------------------------------------
AQ-09-61 23.34 24.05 0.71 2.33
-----------------------------------------------------
AQ-09-63 1.11 1.38 0.27 24.90
-----------------------------------------------------
AQ-09-63 1.91 3.54 1.63 74.07
-----------------------------------------------------
Including 1.91 2.61 0.70 162.50
-----------------------------------------------------
Including 2.61 3.54 0.93 7.51
-----------------------------------------------------
AQ-09-64 1.13 1.40 0.27 2.72
-----------------------------------------------------
AQ-09-64 1.75 2.05 0.30 12.55
-----------------------------------------------------
AQ-09-64 4.36 4.66 0.30 5.26
-----------------------------------------------------
AQ-09-67 25.93 26.19 0.26 120.00
-----------------------------------------------------
AQ-09-67 26.72 27.43 0.71 25.18
-----------------------------------------------------
AQ-09-67 27.97 28.63 0.66 5.17
-----------------------------------------------------
AQ-09-67 29.33 29.86 0.53 2.08
-----------------------------------------------------
AQ-09-68 25.81 26.23 0.42 5.71
-----------------------------------------------------
AQ-09-68 28.93 30.38 1.45 4.58
-----------------------------------------------------
Including 30.02 30.38 0.36 10.95
-----------------------------------------------------
AQ-09-69 3.38 4.87 1.49 113.07
-----------------------------------------------------
Including 3.38 3.84 0.46 70.70
-----------------------------------------------------
Including 4.20 4.57 0.37 283.00
-----------------------------------------------------
Including 4.57 4.87 0.30 102.50
-----------------------------------------------------
AQ-09-70 5.39 6.88 1.49 22.79
-----------------------------------------------------
Including 5.39 6.28 0.89 36.70
-----------------------------------------------------
AQ-09-70 8.47 8.78 0.31 2.94
-----------------------------------------------------
AQ-09-72 26.10 26.29 0.19 99.70
-----------------------------------------------------
AQ-09-75 27.23 27.48 0.25 35.60
-----------------------------------------------------
AQ-09-75 30.20 30.45 0.25 9.38
-----------------------------------------------------
AQ-09-75 30.95 31.68 0.73 3.64
-----------------------------------------------------
AQ-09-75 32.98 33.78 0.80 2.62
-----------------------------------------------------
AQ-09-76 8.26 8.52 0.26 4.11
-----------------------------------------------------
AQ-09-77 8.67 9.35 0.68 5.47
-----------------------------------------------------
AQ-09-79 8.48 8.81 0.33 3.37
-----------------------------------------------------
AQ-09-79 9.91 10.21 0.30 39.00
-----------------------------------------------------
AQ-09-81 30.75 31.25 0.50 5.19
-----------------------------------------------------
AQ-09-86 6.06 6.36 0.30 7.67
-----------------------------------------------------
AQ-09-88 27.71 32.55 4.84 11.16
-----------------------------------------------------
Including 27.71 28.09 0.38 45.60
-----------------------------------------------------
Including 28.09 28.91 0.82 5.29
-----------------------------------------------------
Including 29.44 29.89 0.45 14.35
-----------------------------------------------------
Including 31.67 32.14 0.47 8.74
-----------------------------------------------------
Including 32.14 32.55 0.41 43.40
-----------------------------------------------------
AQ-09-90 21.22 21.85 0.63 2.78
-----------------------------------------------------
AQ-09-91 18.66 19.04 0.38 33.20
-----------------------------------------------------
AQ-09-91 22.35 23.08 0.73 4.28
-----------------------------------------------------
AQ-09-92 29.45 30.26 0.81 37.84
-----------------------------------------------------
Including 29.45 29.81 0.36 13.15
-----------------------------------------------------
Including 29.81 30.26 0.45 57.60
-----------------------------------------------------
AQ-09-92 31.29 31.74 0.45 57.33
-----------------------------------------------------
Including 31.29 31.53 0.24 50.70
-----------------------------------------------------
Including 31.53 31.74 0.21 64.90
-----------------------------------------------------
AQ-09-92 32.29 32.95 0.66 2.74
-----------------------------------------------------
AQ-09-93 33.59 34.95 1.36 3.82
-----------------------------------------------------
AQ-09-94 39.34 40.81 1.47 10.92
-----------------------------------------------------
Including 39.34 39.54 0.20 7.85
-----------------------------------------------------
Including 40.41 40.81 0.40 35.30
-----------------------------------------------------
AQ-09-94 43.05 43.50 0.45 4.50
-----------------------------------------------------
-----------------------------------------------------

Contact Information