Newmarket Gold Pleased with Drilling at Cosmo and Stawell Mines

Newmarket Gold Inc. (TSXV:NMI) released drill results from the Cosmo and Stawell gold mines, noting that it spent US$2.4 million on growth projects at the mines during the first half of the year.
The company also said it hopes to complete a feasibility study for the Maud Creek project by Q1 2016.
Highlights include:

• Cosmo achieved successful exploration results from drilling 10 holes over 4,201.8 metres (“m”), including drilling of the previously identified Western Lodes Target, which is outside the current mine plan for Cosmo Mine, and drilling of the Inner Dolerite target.
• High-Grade drill results for the Cosmo Western Lodes Target, outside current mine plan, include 7.42 g/t Au over 4.3 m (ETW 2.85 m) in hole CW69001 and 6.59 g/t Au over 6.4 m (ETW 1.65 m) in hole CW69006.
• Cosmo Central Internal Metasediments Target with intercepts including 6.79 g/t Au over 6.15 m (ETW 3.85 m) and 4.34 g/t Au over 22.75 m (ETW 11.4 m) in drill hole CW101002.
• Cosmo Inner Dolerite Target intercepts include: 5.33 g/t Au over 7.54 m (ETW 4.8 m) in CW101001A and 4.89 g/t Au over 6.2 m (ETW 4.0m) in hole CW101001. Drilling continues to follow-up along strike. Drill results from the Cosmo Inner Dolerite Target are significant because they represent mineralization within approximately 13 m from Cosmo’s underground development.
• Stawell drilling on the Aurora B East Flank target returned high-grade drill intercepts for the Hampshire Lode including 7.06 g/t Au (1) over 17.80 m (ETW 8.3 m) in hole MD6339 and 25.4 g/t Au over 0.55 m (ETW 0.3 m) in hole MD6340.

Douglas Forster, president and CEO of Newmarket, commented:

We are extremely pleased with the positive results achieved at Cosmo through the drilling of key growth exploration targets including the high priority Western Lodes Target. Over the past eight quarters, Cosmo has continued to deliver solid physical performance. These results are encouraging because they demonstrate the potential for gold mineralization adjacent to the current underground development and create a potential opportunity for increasing resources and expanding the mine plan to alternative mining areas in the short term at Cosmo. At Stawell, we are very encouraged by the discovery of significant gold mineralization at the Aurora B East Flank Target. The West Flank at Stawell has produced over 2.3 million ounces of gold compared to the East Flank, which has no recorded production, and is where the Aurora B discovery is located. This target remains a high priority for Newmarket and additional drilling is ongoing. In H2 2015, we remain focused on our top priority of further developing our asset base and maintaining our current production levels.

Click here to read the full Newmarket Gold Inc. (TSXV:NMI) press release.