Moag to Recommence Drilling at its Mace Property in Ireland
Toronto, ON / TheNewswire / July 7, 2015 - MOAG Copper Gold Resources Inc. ("Moag")(CSE:MOG) (OTCQB: MGCPF) today provides the following update of Moag's exploration campaign on its Mace property (Prospecting Licence No. 19456446 Area 934, referred to herein as PL 934) in County Galway in the west of Ireland.
In 2014, MOAG reported the presence of quartz-vein hosted, molybdenite-copper-silver (Mo-Cu-Ag) mineralization at Mace by drilling an 1100m programme along an altered, north-east trending zone extending for >350m along strike and 150m vertical depth within the host granite, open along strike and down dip.
In early 2015, MOAG conducted an IP geophysical survey, which identified cohesive chargeable and resistive zones along strike of, and adjacent to, the drilled mineralisation. Structural geological mapping was carried out using high resolution orthophotographs to allow advanced interpretation of vein configurations and the controlling structural regime, prior to planned drilling. Ecological Impact Assessment and Stage 1 Screening for Appropriate Assessment studies were completed as part of the management program to ensure minimal impact on the ecology and surrounding environment, as well as the hydrogeological regime.
Highlights:
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- MOAG has defined coincident geological, geophysical and geochemical anomalies at Mace, extending the potential mineralized zone to > 1000m along strike;
- MOAG commenced drilling for 5000m in the last week of June 2015, to test along-strike and down-dip extensions of the known Mo-Cu-Ag mineralized system, following receipt of the necessary Irish regulatory approval from the Exploration & Mining Division.
- 18 diamond cored holes (HQ to 50m with NQ tails to max. 250m depth) are planned initially, with the program extendable based on results (see map overleaf). All drill holes will be collared at > 50m from surface water bodies.
- Assay results will be released as they are received over the course of the program.
MOAG have contracted SLR Consulting of Dublin, Ireland www.slrconsulting.com to manage the drilling program, including geological logging and interpretation, liaison with landowners and statutory authorities, environmental management and statutory reporting functions on its behalf. Drilling will be carried out under contract by Irish Drilling Limited and geochemical analyses will be undertaken by ALS Global Laboratories, both companies based in Co. Galway.
The scientific and technical information contained in this news release was prepared, supervised and approved by the Qualified Person, Dr. Deirdre Lewis, PhD PGeo EurGeol, a Technical Director with SLR Consulting.
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PL 934, Mace, Co Galway. Proposed Drill Plan 2015
(red collars, 2015; blue collars 2014), showing soil (green) and IP (purple) target zones on orthophotographic base.
1.0On Behalf of the Board
2.0Bradley L. Jones, CPA, CA
3.0Chief Operating Officer & CFO
For further information please contact:
| Bradley L. Jones, COO & CFO (416) 510- 8397 bradley.jones@moag.ca http://www.moag.ca/ Notice Regarding Forward-Looking Statements This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding Moag's exploration programs. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. |
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