Taku Gold Corp.

Taku Gold Corp.

December 23, 2010 09:50 ET

Taku Wraps Up 2010 Exploration Season in Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 23, 2010) - Taku Gold Corp. ("Taku") (TSX VENTURE:TAK) is pleased to announce results from airborne geophysical surveys completed over the 252-claim (5216ha) Montana, 536-claim (11095ha) Sulphur, and 280-claim (5796ha) Wounded Moose properties and the results from drilling on the 227-claim (4699ha) Bishop property from mid-September to late October 2010. The properties are located southeast of Dawson City in the Klondike area of Yukon.

The goal of the airborne geophysical surveys was to provide a framework for planning soil geochemical surveys in the 2011 season. A total of 558 line kilometres of magnetic and radiometric data was collected over the Montana property located 55km southeast of Dawson City. The survey outlined a number of northwest-trending, linear magnetic structures that may represent fault zones. A total of 673 line kilometres of magnetic and radiometric data was collected over the Wounded Moose property located 64km southeast of Dawson City. The survey outlined a number of circular magnetic and radiometric features that may represent intrusive bodies. These features are cut by numerous linear magnetic structures at various orientations that may represent fault zones. A total of 1292 line kilometres of magnetic and radiometric data was collected over the Sulphur property located 47km southeast of Dawson City. The survey shows three distinct northwest-trending magnetic zones that likely represent three different lithologies. The survey also outlined a series of distinct north-trending magnetic lows that may represent faults or dykes. In general, the airborne geophysical surveys have generated numerous target areas to be investigated by soil sampling, prospecting and trenching in 2010 with the objective of generating solid drill targets.

A total of 691.9m of drilling in 5 holes was completed on the Bishop property in late October 2010. The goal of the drilling was to test a strong, southeast trending conductor on the margin of a magnetic high associated with unusual placer gold grains found in bedrock samples collected by mechanical auger drilling. In four of the five holes, the drilling intersected a zone marked by shearing, quartz veins, stockworks and breccias, and weak sulphide mineralization. The structure generally follows an ultramafic, metasediment contact. Assay results from the zone were generally low. The best gold value was 0.5gpt Au over 1.0m from 32.5m in hole IN10-03.

"This is the final release of results from a very busy 2010 exploration season. We have acquired an excellent land package and solid database to work on in the Dawson City area, and are well financed to move forward in 2011," comments Zak Dingsdale, President.

The multi-sensor airborne geophysical surveys were completed by Precision Geosurveys Inc. of Vancouver, British Columbia with a helicopter flying grid lines at 100 meter line spacing. A high resolution magnetometer system was used to assist in interpreting bedrock units, structure, and alteration. A radiometric system consisting of a multichannel spectrometer with state-of-the-art design and large gamma ray sensing crystals was used to map lithologies and alteration.

All analytical work was completed at Acme Analytical Laboratories Ltd. ("Acme") in Vancouver, British Columbia. Acme is accredited under ISO 9001. Drill core samples were prepared by crushing 1kg to 80% passing -10 mesh and then pulverizing a 250g sub-sample to 85% passing -200 mesh and then analyzed for gold by 30g fire assay, ICP–ES finish. Mark Fekete, P.Geo is the designated "qualified person" as defined in Section 1.2 in and for the purposes of National Instrument 43-101 responsible for the technical content of this release.

On Behalf of the Board, Taku Gold Corp.

Zachery Dingsdale, President and CEO

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Statements in this release that are forward-looking are subject to various risks and uncertainties as identified above and in the Company's periodic filings with the British Columbia Securities Commission and the U.S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.

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

  • Taku Gold Corp.
    Zachery Dingsdale
    President and CEO
    604.642.0115 or Toll Free 866.345.0115
    604.642.0116 (FAX)