VANCOUVER, Nov. 24 /PRNewswire-FirstCall/ -- Robert L. Card, President of Gulfside Minerals Ltd. ("Gulfside" or the "Company"), is pleased to report from the Mongolian camp site that the first hole of Gulfside's drilling program on the Onjuul coal project in Mongolia has been completed, and yielded preliminary information for comparison.
This first hole was located as an offset to hole #12 of the Russian/Mongolian exploration program from 1973 which was completed at a depth of 90.5 meters. The first hole, NL-09-22C TB001, was cored to 120 meters and then changed to rotary drilling as a faster and more cost effective method. The GPS location is 538626E x 5167713N. The hole was completed at a depth of 201 meters.
HISTORIC ONJUUL - 2009 ------------------------------------------------------------------------- Coal Intercept Comparison ------------------------------------------------------------------------- Historic Hole # 12 *Gulfside Hole #TB001 Seam -------------------------------------------------------------------- Top Base Thickness (m) Top Base Thickness (m) ID ------------------------------------------------------------------------- 9.60 16.20 6.60 8.96 15.65 6.69 1 ------------------------------------------------------------------------- 16.45 17.36 0.91 ------------------------------------------------------------------------- 52.00 63.50 11.50 2U ------------------------------ 45.84 84.6 38.76 ---- 63.50 83.90 20.40 2L ------------------------------------------------------------------------- 130 136 6.00 ------------------------------------------------------------------------- Total (Meters) 38.50 (Meters) 52.36 Coal ------------------------------------------------------------------------- * Seam intercepts and correlations are preliminary, pending geophysical logging
Robert Card, President of Gulfside stated, "we are very pleased to report that the coal intercepts compare favorably with the offset hole # 12 with an additional seam of 6m being encountered lower in the section".
The core has been logged, split and boxed ready for testing at the Stewart Mongolia LLC laboratory in Ulaanbaatar and will be shipped once additional holes have been completed.
The Company's driller now has two rigs operating on a 24 hour basis (2 - 12 hour shifts), the camp has 21 sleeping gers, one office ger and a larger mess hall ger to accommodate 44 personnel. For pictures of the camp and drilling activities please visit the Company's website.
Kerry F. Griffin BSc., Diploma Eng Geol, MAIG, an independent consultant to the Company and the qualified person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release.
On Behalf of the Board of Directors, Gulfside Minerals Ltd. "Robert L. Card" Robert L. Card President "Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning GMG's planned exploration program in Mongolia and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although GMG believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk Factors" and elsewhere in the corporation's periodic filings with Canadian securities regulators.
Gulfside Minerals Ltd.
CONTACT: Investor Contact: Del Thachuk, Delmor Enterprises Ltd., (604)
538-5995, delthachuk@shaw.ca, http://www.gulfsideminerals.com/,
http://www.gulfsideminerals.de/
