VANCOUVER, Nov. 24 /PRNewswire/ -- Consolidated Gulfside Resources Ltd., reports that the Company's Mongolian exploration team have completed initial sampling designed to verify the three large copper and one large zinc Russian Era anomalies each 2000 meters long by 500 meters wide on the Erdenet area copper/gold property.
This property, known as the Undurt, has a similar geological setting to the largest mine in Mongolia, the Erdenet copper moly deposit, located 64 kms to the east. The Undurt property comprised of 55,637 hectares of approved and granted leases. The collected samples are being sent for analysis and results expected in due course. After the sampling results have been assessed, geophysical surveys will be conducted as the next phase to determine the structural setting and to define drill targets.
The Company's next sampling program will start shortly on the "Khentii" property consisting of 9,818 hectares and located in N.E. Mongolia. The Khentii property has a very large Russian Era gold anomaly measuring 7,000 meters in length by 2,000 meters wide.
Work is also planned in the new year on the Company's 36,000 hectare Gobi Altai property located in S.W. Mongolia based on a mineralization model similar to the Ivanhoe Mines Oyu Tolgoi Mine.
Significant areas on the company's leases have indications as being very prospective for uranium mineralization. All exploration models will be designed to look for uranium in addition to the main targets.
The company has granted incentive stock options to employees and consultants of 400,000 shares at an option price of 12 1/2 cent per share for an option period of two years in accordance with the Company's Incentive Stock Option Plan.
On behalf of the Board,
"Robert L. Card"
Robert L. Card
President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy or adequacy of this news release.
CONTACT: Suite 1102 - 475 Howe Street, Telephone (604) 687-7828, Vancouver, B.C., V6C 2B3, Canada, Facsimile (604) 687-7848, http://www.cglresources.com/
