Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announces that the program of line-cutting has been completed and surface geophysics is nearing completion in the area of the main Aquilon property, James Bay, Quebec. The program was designed to outline folded banded iron formation horizons using ground geophysics (magnetics) over an area of approximately 10 sq. km. on claims referred to as the Aquilon Extension Property held jointly by Golden Tag (60%) and Sirios Resources Inc. (40%). Due to unseasonably mild weather, thin ice conditions and onset of winter break-up in the region; a planned 1,500 meter surface diamond drilling program to test favourable gold targets has had to be postponed.
The Banded Iron Formation (“BIF”) is known to occur immediately southwest of high grade quartz veining documented on the contiguous main Aquilon Property to the north where Golden Tag is earning a 60% interest from SOQUEM and Sirios. The magnetic trend of the iron formation has been previously followed through airborne geophysical surveys through the Aquilon Extension property claims. Upon completion of the surface geophysics program, magnetic data from the new survey will be available for review and processing prior to interpretation.
Golden Tag will review the data so to better evaluate known targets. In analogies with the Musselwhite deposit in north western Ontario and other known BIF-hosted worldwide, gold commonly occurs associated with magnetic destruction (weak magnetic signature) or in cross-cutting structures to the magnetic trends. The program will be adjusted to include summer field verification of the identified targets prior to the planned drilling, which will be undertaken at the first opportunity.
For additional information, please contact:
Golden Tag Resources Ltd.
Marc A. Carrier, President & CFO
Ph: (514) 426-8542
Fax: (514) 426-8543
Cautionary Statement: Statements in the release that are "forward looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. For a discussion of the risk factors that are inherent in the Mining Industry see our public filings at www.sedar.com.
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