One metre of 13.50 g/t Au and 58.10 g/t Ag;
- One metre of 8.63 g/t Au and 65.40 g/t Ag.
Six drill holes were completed at five sites for a total of 1,637 metres of core. The objective of this drill program was to target areas yielding moderate-to-high-chargeability responses that were coincident with anomalous results from soil sampling (see Parlane news release dated Aug. 8, 2012, on the company's website).
Two of the six drill holes intersected newly discovered mineralization. Drill hole BB12-4 was drilled at the Black Bear anomaly to a depth of 330.71 metres and was sampled at one-metre or two-metre intervals for its entirety. Significant mineralized sections are shown in the attached table and include nine metres assaying 2.14 grams per tonne gold, 12.64 g/t silver and 0.76 per cent zinc. Within this section, a one-metre interval, at 196 metres depth, assayed 13.50 g/t gold, 58.10 g/t silver and 1.36 per cent zinc. The average grade for all of the samples over the entire hole is 0.26 g/t gold, 2.67 g/t silver and 0.21 per cent zinc. Hole BB12-6 was also drilled at the Black Bear anomaly and was collared 200 metres west of BB12-4. Significant mineralized intersections include eight metres assaying 0.67 g/t gold, 4.99 g/t silver and 0.67 per cent zinc, and within this section, a one-metre interval assayed 2.06 g/t gold, 6.69 g/t silver and 1.63 per cent zinc. Mineralization at the Black Bear is hosted in thick units of intermediate to felsic lapilli and crystal tuff. The orientation of this volcanic package is considered to be dipping moderately to the northeast, based on outcroppings at higher elevations in the area, and drill intersections are approximately perpendicular to layering, thereby giving true thicknesses plus or minus 90 per cent. The Black Bear is situated directly on-line between the Blackwater and Capoose properties (a map is available on the company's website).
"This is a very significant discovery for the company," said Robert Eadie, president and chief executive officer of the company. "We are anxious to get under way on our 2013 drilling program as I believe we have extended the Blackwater deposit and are on a definite path to increasing shareholder value."
SIGNIFICANT DRILL HOLE INTERSECTIONS Length From To Length Au Ag Cu ZnHole (m) (m) (m) (m) g/t g/t % %BB12-4 330.71 18 24 6 1.34 3.62 0.04 0.25Including 18 20 2 3.83 1.51 0.00 0.23and 114 126 12 1.12 9.30 0.11 0.43Including 124 125 1 8.63 65.40 0.75 1.10and 195 204 9 2.14 12.64 0.06 0.76Including 195 196 1 3.93 28.20 0.16 2.80Including 196 197 1 13.50 58.10 0.11 1.36BB12-6 300.84 7 15 8 0.67 4.99 0.06 0.67Including 12 13 1 2.06 6.69 0.04 1.63and 24 25 1 0.20 5.38 0.01 1.05and 37 38 1 1.00 6.84 0.00 0.09and (with1.92% lead) 53 54 1 0.10 17.20 0.10 0.77and 188 190 2 0.62 10.10 0.03 0.20BB12-1 317.92 No significant intersectionsBB12-2 203.00 No significant intersectionsBB12-3 218.00 No significant intersectionsBB12-5 267.00 No significant intersections
The Black Bear mineralization requires more geophysical surveying and drilling to determine its extent. Parlane has scheduled to return early in the 2013 season to begin further work at this site.
The Brown Bear anomaly is located 2.6 kilometres south of the Black Bear, is characterized by anomalous silver, copper, lead and zinc values in soils, and is coincident with a strong chargeability over an area approximately 500 metres by 700 metres. It was targeted for drilling in 2012; however, snow and ice made access difficult, and a decision was made to suspend further work until 2013.
The Medley zone was discovered late in 2012 within the western block of the Big Bear tenure. Closely spaced, one-centimetre-wide to five-centimetre-wide quartz and epidote veins carry silver and copper mineralization extending approximately 700 metres northerly. A selected hand sample assayed 2.67 g/t silver and 0.83 per cent copper. Further sampling and geological mapping are planned for this area in 2013.
Drill core samples were analyzed by AGAT Laboratories Ltd., an ISO 9001- and ISO/IEC 17025-certified laboratory. Parlane maintains a quality assurance and quality control program whereby standard samples and blanks are inserted into the sample stream.
Ian Webster, PGeo, is the qualified person as defined by National Instrument 43-101 who has reviewed and approved the contents of this release.