Website Update
The Big Hammer will be Jet Gold's main exploration target this spring and summer. The recent new highs in the price of gold and the general anticipation of higher prices in the coming months make the "Hammer" a priority target for development this year. In addition to gold, the Company will be looking carefully at the tellurium content of the Big Hammer mineralization. Tellurium has become a very sought after mineral, as demand for its use in solar cell manufacture and digital memory chips has increased its price from about US$10 per pound a few years ago to over US$200 per pound presently. At these prices, a major tellurium component of the Big Hammer mineralization suite could add a large dollar value to the rock. The Big Hammer is located about 13km southeast of the City of Terrace, BC and is easily accessible from local roads, logging roads and trails.
The Company also expects to be engaged in an exploration program on its Kshish molybdenum property in late summer. The Kshish indicates it contains a large high grade area of moly mineralization which Jet Gold expects to develop further. Previous work by the Company and others has indicated the presence of a high grade area of mineralization surrounded by a greater area of lower grade rock. The Kshish is located approximately 11km northeast of the City of Terrace, BC and is easily accessible by local highways and logging roads.
On behalf of the board of directors,
Jet Gold Corp.
"Robert L. Card"
Robert L. Card
President
Investor Contact
Brian Stanford
604-687-7828
Brian-JetGold@shaw.ca
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
Caution Regarding Forward-Looking Information
Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.
Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties .
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Jet Gold Investor Relations
Mr. Stanford is a Vancouver-based investor relations professional with over 25 years of experience providing investor relations services for private and publicly traded companies. He has been retained to strengthen Jet Gold's investor relations activities and effectively communicate shareholder value to investors.
The Company is looking forward to an active exploration season in the further development of its Big Hammer gold/tellurium property and its Kshish molybdenum property, both located near Terrace, British Columbia.
The above-described consulting agreement and grant of options are subject to the policies of the Exchange.
On behalf of the Board of Directors
Jet Gold Corp
"Robert L. Card"
Robert L. Card
President
Investor Contact:
Brian Stanford, Investor Relations
604-687-7828 or 1-888-687-7828
Jetgoldcorp@shaw.ca
www.jetgoldcorp.com
Assay Results From Big Hammer -- Gold-Silver-Tellurium
Big Hammer's Au-Ag-Te mineralization was first discovered in 2007 when new logging roads revealed a thick series of sheeted, low-angle quartz-pyrite veins. Assays from 2008 and 2009 returned significant results. Chip samples across a one-meter-thick vein in the "380 Zone" (at 380 meters elevation) assay up to 26.2 gpt Au (0.77 opt Au) and 264 gpt Ag (7.77 opt Ag). A single grab sample (sample #G073029) returned 50.2 gpt gold (1.48 opt), 522 gpt silver (15.4 opt) and 451 gpt Te. Tellurium is an industrial mineral with a limited supply and a growing demand. Demand for tellurium in solar energy cells is starting to define the demand side of the market. It has been estimated that tellurium will remain somewhere above $250 US/kg.
Big Hammer property consists of six tenures totaling 1,617 hectares (3,996 acres) located 13 km southeast of Terrace B.C. on the south side of Thornhill Mountain. Big Hammer is serviced by a paved public road and is accessible in all seasons. Permitting for 2010 exploration was submitted in early February. Surface exploration activities planned for 2010 and 2011 include sequential programs of mapping, surface sampling, trench sampling, drilling, and bulk sampling.
The newly-recognized "625 Zone" (625 m elev.) is a group of five veins within a zone approximately 40 meters wide. The thickest of these veins is two meters in roadcrop. Grab samples have returned values of up to 14.6 gpt Au (0.42 opt Au).
Up to 380 ppm bismuth (Bi) is associated with Au-Ag-Te in samples from the "380" Zone. Anomalous trace elements from veins in higher roadcrops (to 625 meters elevation) at Big Hammer include bismuth (to 140 ppm Bi) and tungsten (to 1,900 ppm W).
Deposit analogs, given Big Hammer is in the early stages of exploration, are the reduced intrusion-related gold systems at Fort Knox and Dublin Gulch. These deposits include sheeted, often low-angle, quartz veins with Au-Bi-Te-W mineralization.
Results stated in this report are non-NI 43-101 compliant and as such are subject to change as further work is undertaken on the property.
The information contained in this news release has been reviewed and approved by Donald G. Strachan, MSc., CPG, Geologist, a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors
Jet Gold Corp
"Robert L. Card"
Robert L. Card
President
Investor Contact: Robert L. Card, President
604-687-7828
Jetgoldcorp@shaw.ca
www.jetgoldcorp.com
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.
Caution Regarding Forward-Looking Information
Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.
Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Jet Acquires Rare Metals - Gold-Silver-Tellurium (Au-Ag-Te)
The terms of the option agreement calls for the payment of $250,000, the issue of one million common shares and the expenditure of one million dollars for exploration work over a four year period. The option agreement is subject to the approval of the TSX Venture Exchange.
The property consists of six tenures with a total area of 1,617 hectares (3,996 acres) and is located 13 kilometers southeast of Terrace B.C. on the lower elevations of Thornhill Mountain. It is situated on the western flank of the Intermontane Belt and bounded on the west by the Coast Crystalline Belt. The Big Hammer's Au-Ag-Te mineralization was first discovered on new logging road cuts in 2007 within a thick series of sheeted, low-angle quartz-pyrite veins. Host rocks are Tertiary granitics and possibly altered basement. The multiple Big Hammer Au-Ag-Te showings are also anomalous in lead (Pb), copper (Cu), zinc (Zn), cobalt (Co) and tungsten (W).
Intrusive associations and extensional structures combined with good assays and trace geochemical returns make the Big Hammer a target for gold and the byproduct tellurium. The significant extent, greater than 1,000m horizontal and 300m vertical, of the known Big Hammer mineralization suggests additional veins may be found with mapping, surface trenching and diamond drilling.
Tellurium is one of the rarest elements found on earth and is a significant and relatively new semiconductor. It is used in a wide range of uses with medical, solar cell, metallurgical and computer memory applications. Cadmium telluride solar panels have achieved some of the highest efficiencies for solar power generation. Tellurium sub-oxide is used in several types of rewritable optical discs. Much of this new technology, Blu-Ray discs for example, are critically dependant on tellurium. Due to low production and high demand the value of tellurium has gone up 500% since 2004.
Results stated in this report are non National Instrument 43-101 compliant and as such are subject to change as further work is undertaken on the property. A further description of the property, previous assay results, etc., will be released shortly.
On behalf of the Board of Directors
Jet Gold Corp
"Robert L. Card"
Robert L. Card
President
Investor Contact:
Robert L. Card, President
604-687-7828
Jetgoldcorp@shaw.ca
www.jetgoldcorp.com
Caution Regarding Forward-Looking Information
Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.
Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Private Placement
The non brokered private placement is subject to the approval of the TSX Venture Exchange.
On behalf of the Board of Directors
Jet Gold Corp
"Robert L. Card"
Robert L. Card
President
Investor Contact:
Robert L. Card, President
604-687-7828
Jetgoldcorp@shaw.ca
www.jetgoldcorp.com
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.