September 24, 2009 -- Robert L. Card, President of Jet Gold Corp. (the "Company") (TSXV.JAU), is pleased to report that the Company has received an updated report and recommendations on its Naskeena Coal Project from its geological consultant, Alex Burton, P.Eng., P.Geo.
During the 2008 field season, the Company drilled nine (9) HQ holes for a total of 1,310 meters. This work followed on the 2007 drilling of sixteen (16) NQ holes for 1,215 meters. The drilling encountered several coal beds of variable thickness. For example, DDH#2 intersected a 2.43 meter coal bed which was followed up with a "step out" pattern of seven (7) holes to try to establish connectivity and continuation thickness. These additional holes could not determine this as the coal beds appeared to be discontinuous and lens like. While the intersection had viable coal thickness, the surrounding holes returned poor coal results. The specific gravity tests undertaken by the Company did not demonstrate that the recovery of coal collected in the drill core could be upgraded adequately to make it economic.
In early 2009, the Company decided to review the data and consider viability of the as yet undrilled southern portion of the tenure. Burton Consulting Inc. ("Consultants") was instructed to assess the ground to locate, if possible, areas that might contain economic coal deposits.
The consultant's report concluded that, although there may be a large coal deposit in the untested areas, the costs of further drilling and development would likely exceed the economic value of the resource. The southern portion of the tenures is covered with deep gravel and the cost of drilling through to establish a resource is cost prohibitive. In addition, any coal beds would likely be too deep for open pit mining and require a more costly shaft and underground mining for production.
As a result, the consultants have recommended that the Company give up the tenures as uneconomic. Upon Mr. Burton's recommendation, the Company has decided to relinquish the coal tenures.
The Company plans to expand and develop its gold assets in North America. The Kshish molybdenum property is very promising and the company plans to continue its work program scheduled for October. Part of recommended exploration program will further review the property and existing samples for precious metals and exotic minerals.
This news release has been reviewed and approved by Alex Burton, P.Eng., P.Geo., a qualified person as defined in National Instrument 43-101.
This News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.
Neither 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
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