Shoreham tests up to 77.85 g/t Au at Potaro/Maple Creek
Shoreham Resources Ltd (C:SMH)
Shares Issued 53,559,300
Last Close 7/21/2009 $0.19
Wednesday July 22 2009 - News Release
Mr. David Bending reports
POTARO/MAPLE CREEK GOLD PROJECT: SAMPLING RESULTS OUTLINE GOLD EXPLORATION TARGETS
Shoreham Resources Ltd. has made further developments regarding bedrock gold targets identified in systematic sampling at its Potaro/Maple Creek gold and diamond project in Guyana. Shoreham has the option to acquire 100 per cent of Vanarde Mining Inc. and Vanessa Guyana Inc. (the owners of the Potaro/Maple Creek Project). The Potaro/Maple Creek project consists of mining licenses and prospecting permits encompassing a total area of approximately 40,000 acres in west central Guyana, 25 kilometres north of Iamgold's Eagle Mountain project, 40 kilometres west of the Omai Mine site, and five to 10 kilometres west of the Mahdia mining district. The location and geological setting of the licenses make these licenses high priority exploration lands but transported sand cover complicates exploration.
During late 2007 and early 2008 the company undertook systematic soil, panned concentrate, rock and stream sediment sampling over the project lands, with emphasis on portions with relatively thin transported cover. Approximately 22 per cent of the property has now been sampled and analyzed for gold. Two-thousand nine hundred one samples have been taken comprising 2,223 soil samples, 278 panned concentrates, 123 rock samples and 277 stream sediment samples. The work identified seven significant gold anomalies, defined by these geochemical media, with gold responses ranging from detection limits to 77.85 grams per tonne gold. Four anomalies were investigated with deep mechanized auger (TRADO) drill holes. The targets are described and illustrated in more detail on the company's website.
The most significant targets are the 7 km long Pepper Creek - Little Uewang Trend (gold in soil and panned concentrates coincident with a major NE trending structural break, with stronger responses at cross structures) and the 250 x 600 meter Queen of Diamonds NE target (soil and panned concentrate responses associated with a felsic intrusive body). The Maple Creek North Anomaly is clearly associated with a discrete magnetic response from a gabbro/norite intrusive. Reconciliation of the sampling results, field observations, magnetic data and inferred bedrock geology forms a sound basis for further work including more sophisticated geochemistry, ground geophysics, trenching and drilling.
Negotiations are underway with parties interested in farming into the Potaro/Maple Creek land claims. Shoreham is actively working through other significant evaluations and acquisitions in Guyana at this time.
