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Press Release - Nayarit Gold Inc. (NYG-TSXV) |
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“On Value and Vision, we believe at current share prices we are undervalued, we have a significant amount of blue-sky potential, we have exceptional results from our initial drill program, and we have the experience in building companies and creating shareholder value. When people look at our company vs. others, I think that the underlying theme is that we have the team, the experience, and a property that is in a prolific district with a significant amount of potential.,.” - Colin P. Sutherland, CA (NYG) (Interview published January 11, 2008) |
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Toronto, Ontario Press Release 05 – 2008 Nayarit Gold makes discovery of new vein system at Orion Project Nayarit Gold is pleased to announce the discovery of a new vein system on its Orion Project. The new vein is approximately 20 kilometres south of the Animas Vein system where a Phase Two 10,000 – 15,000 metre drill program is underway. The new discovery, called La Rosa Amarilla, was previously mined, as evidenced by a number of pits and shallow shafts on the vein as well as a waste dump. A 10 metre channel sample collected across the vein averaged 0.89 g/t Au and 161 g/t Ag, with the last 4 metres averaging 1.43 g/t Au and 267 g/t Ag. Samples from the west wall of the vein assayed up to 0.58 g/t Au and 119 g/t Ag, while a grab sample from the waste dump assayed 2.04 g/t Au and 4 g/t Ag. The vein is hosted by silicified and brecciated andesite hosted of the lower volcanic series. The vein trends northwest and dips moderately to the northeast to sub-vertically. The vein has been traced for about 60 to 70 metres, and is open to the NW and disappears under cover to the SE. Further mapping and sampling will determine the extent of this new discovery. Colin Sutherland, President and CEO of Nayarit, comments “ This new discovery is significant and further evidences the significant exploration upside at the Orion Project. Similar to the Animas Vein System, the Amarilla vein system is hosted in the Lower Volcanic Series, where most of the mineralization to date has been located on the Orion Project. Initially we were focused on the northern portion of the Orion Project looking for epithermal vein systems, however, this new discovery has pushed the potential for these systems much further south. The ground between these zones has not yet been explored, and thus we strongly believe there is potential to find more mineralized veins and vein systems.” Drilling continues on the main Animas system, and Phase Two results are expected to be released shortly. William J. Warren Jr., M.Sc., P.Geo is a Qualified Person as defined in NI 43-101 and has reviewed this release. Nayarit Gold Inc. is a junior resource company dedicated to gold exploration in the proven precious metal districts of Mexico . Management’s goal is to build a profitable resource company and maximize shareholder value through successful exploration programs and continued development.
For further information on Nayarit Gold please visit the company’s website at www.nayaritgold.com or contact:
Mr. Colin P. Sutherland
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