VANCOUVER, December 17 /PRNewswire-FirstCall/ -- - TSX.V - GMG
Robert L. Card, President of Gulfside Minerals Ltd. ("Gulfside" or the "Company"), is pleased to report four additional holes of Gulfside's drilling program on the Onjuul coal project in Mongolia have been completed.
The results of the first four holes were reported in news releases on November 24, 2009 and December 7, 2009.
The fifth hole, NJ-09-26C cored to depth of 192.5 meters and encountered a 10.4 meter seam between 174.4 and 184.8 meters; other thinner, but significant seams were also encountered. Seam intercepts are as follows:
Gulfside Hole No. NJ-09-26C(x) ---------------------------------------------------- Coal Intercept (m) ---------------------------------------------------- Top Base Thickness Seam ID(x) ---------------------------------------------------- 35.5 43.0 7.5 2U ---------------------------------------------------- 79.1 81.5 2.4 2L ---------------------------------------------------- 115.0 122.2 7.2 3 ---------------------------------------------------- 174.4 184.8 10.4 4 ---------------------------------------------------- Total 192.5 27.5 ---------------------------------------------------- (x) Seam intercepts and correlations are preliminary, pending geophysical log interpretation
The sixth hole was drilled to a depth of 113.2 meters before losing circulation and was abandoned. No coal seams were apparent.
The seventh hole, NJ-09-28C, was drilled to a depth of 51.5 meters before running into technical problems. This hole was abandoned and re-drilled as a rotary hole to a depth of 186.0 and encountered a 28.80 meter seam between 33.4 meters and 62.14 meters. Seam intercepts are as follows:
Gulfside Hole No. NJ-09-30R(x) ---------------------------------------------------- Coal Intercept (m) ---------------------------------------------------- Top Base Thickness Seam ID(x) ---------------------------------------------------- 33.4 62.2 28.8 2U ---------------------------------------------------- 65.3 66.4 1.1 2L ---------------------------------------------------- 76.0 76.7 0.7 2L ---------------------------------------------------- 88.0 91.0 3.0 2L ---------------------------------------------------- 118.8 122.5 3.7 3 ---------------------------------------------------- 129.5 131.3 1.8 3 ---------------------------------------------------- 136.2 138.3 2.1 3 ---------------------------------------------------- Total 186.0 41.2 ---------------------------------------------------- (x) Seam intercepts and correlations are preliminary, pending geophysical log interpretation
The eighth hole, No. NJ-09-29C was drilled to a depth of 233.2 meters and encountered a 12.3 meter seam between 42.1 meters and 54.4 meters. The hole was positioned as an offset to Hole No.14 of the 1973 Russian/Mongolian exploration program.
HISTORIC ONJUUL - 2009 ------------------------------------------------------------------------- Coal Intercept Comparison ------------------------------------------------------------------------- Historic Hole No. 14 Gulfside Hole No. NJ-09-29C(x) ---------------------------------------------------------------- Thickness Thickness Seam Top Base (m) Top Base (m) ID(x) ------------------------------------------------------------------------- 0 7.5 9.0 1.5 ------------------------------------------------------------------------- 10.4 11.2 0.8 ------------------------------------------------------------------------- 30 41.5 11.5 42.1 54.4 12.3 2U ------------------------------------------------------------------------- 47 50.5 3.5 61.0 63.2 2.2 2L ------------------------------------------------------------------------- ------------------------------------------------------------------------- ------------------------------------------------------------------------- Total Depth 61.2m Total Depth 233.2m ------------------------------------------------------------------------- Total Coal (Meters) 15 (Meters) 16.8 ------------------------------------------------------------------------- (x) Seam intercepts and correlations are preliminary, pending geophysical log interpretation
The core has been logged, boxed and ready for testing at the Stewart Mongolia LLC laboratory in Ulaanbaatar.
Once additional drilling has been completed and laboratory results analyzed, the Company will be in the position to further evaluate the viability of the coal project for a coal liquefaction project. Independent geological and engineering studies will be required to determine if this potential use is technically and economically viable.
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.
For further information: Investor Contact, Del Thachuk, Delmor Enterprises Ltd., +1-604-538-5995, delthachuk@shaw.ca, http://www.gulfsideminerals.com/
Gulfside Minerals Ltd
CONTACT: For further information: Investor Contact, Del Thachuk, Delmor
Enterprises Ltd., +1-604-538-5995, delthachuk@shaw.ca,
http://www.gulfsideminerals.com/
