|By Marketwired .||
|November 25, 2013 09:15 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/25/13 -- Expedition Mining Inc. (TSX VENTURE:EXU) (the "Company") is pleased to provide this update on the 2013 exploration programs within the Walker Lane Mineral Belt.
2013 TRENCHING PROGRAM COMPLETED
The trenching program utilized a rubber tired backhoe to clear the surface float and excavate into the bedrock. Generally the undisturbed bedrock is less than 1 m below surface. Trenches were excavated in areas of visible alteration and veining along with zones associated with regional structures. The best results were derived from trenches 2, 2A, 7 and 8, located in the vicinity of IP target #2. Gold values were similar to previous sample results with the highest value being 1.27 g/t over 3 m in trench 2. This sample was part of a wider zone of 6.5 m grading 0.93 g/t gold. A sample of vein material from trench 2A contained 61.9 g/t silver along with 0.3 g/t gold. This work confirmed that the anomalous values are predominantly associated with the northeasterly trending structural zones, the intersections of which are co-incident with an IP target generated by the historical survey. Overall the company is very pleased with the results from the trenching program, and is evaluating the results to plan the 2014 exploration program.
2014 DRILL PROGRAM
Permitting for a drill program to test these surface anomalies is underway and bids are being solicited for this work. Reverse circulation and core drilling are being considered for this program which will consist of 10 to 15 holes.
To view the South Claim Compilation maps and IP #2 Target on our website, please click here.
LONG CANYON PROPERTY
This property consists of 37 unpatented lode claims located 200 kms southeast of Reno and 16 kms southeast of the community of Mina, Nevada. Previous exploration programs have identified an extensive geochemically anomalous area associated with the intersection of several structural trends. These multi-element soil and rock anomalies are also co-incident with chargeability and resistivity IP anomalies. The central portion of the property exposes a silicified zone consisting of widespread chalcedony and intensely silicified country rocks.
Structurally the Long Canyon project area is dominated by strands of the northwest trending Walker Lane Fault Zone. Arcuate splays from the main faults trend east-west across the property and are exposed in many of the drainages. Regional scale northerly trending structures are also present which extend through the Pilot Mountains to the north, and are covered by pediment fans to the south. The intersections of these two structural zones are believed to be important localizing features for the mineralization encountered at the Bellville Mine and the deposits in the Douglas Camp to the west.
The majority of the Long Canyon property is underlain by rocks of the Permian Mina Formation. These consist of quartz rich sediments including sandstones and mudstones along with tuffaceous units derived from volcanic sequences. The northern portion of the property has been intruded by an unnamed coarse grained gabbroic unit that forms a distinct magnetic high on the property magnetic survey. Tertiary volcanic rocks are widespread to the north of the property.
The structural zones trend dominantly north-northeast and northwest, and intersect beneath the extensive siliceous zone which occupies the central portion of the property. The north-northeast trend is characterized by swarms of narrow quartz veins with a general northerly orientation and subvertical dip. These veins range from less than 1 cm to greater than 1 m in thickness. Veins within the NW trending zone show a greater variation in dip attitude from -45 to vertical, and are generally oriented sub-parallel to the northwest trending Walker Lane belt.
The Long Canyon project is situated in southeastern Mineral County and is flanked by several well known historical mining districts. The Pilot Mountains to the north have a long history of mercury production, followed by tungsten mining along the eastern edge of the range. The former producing Belleville Mine 8 kms north of Long Canyon reportedly produced around 100,000 ozs to 1939 from two quartz veins.
To the west the Douglas Camp area was dominantly a gold and silver camp which also contained abundant scheelite and produced over $1,000,000 of tungsten during and after WW1.
To the southwest the Candelaria District was known for high grade silver deposits which averaged 60 oz/ton in the early days of mining. By 1999 over 68 million ounces of silver had been extracted from the mines in this district.
Expedition's disclosure of a technical or scientific nature in this press release has been reviewed and approved by James Chapman, P.Geo, who serves as a qualified person under the definition of National Instrument 43-101.
Expedition Mining Inc. (TSX VENTURE:EXU) is a publicly held Canadian exploration company focused on acquiring, exploring and developing gold properties located in favourable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies. For additional information concerning Expedition Mining Inc. or its various exploration projects please visit Expedition's website at www.expeditionmining.com.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Expedition Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the property, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold. Although Expedition Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Expedition Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
ON BEHALF OF THE BOARD:
Ronald Atlas, President & Chairman of the Board Expedition Mining Inc.
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.
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Issued Share Capital: 58,236,789