Newmarket Gold Reports Highest-grade Results from Fosterville Mine

Newmarket Gold Inc. (TSX:NMI) announced exploration results from 81 drill holes completed as part of a US$2.3-million exploration and resource definition program at the Lower Phoenix and Phoenix systems at its Fosterville gold mine. The holes span  17,002.5 meters.
Highlights and key intercepts include:

• Discovery of the Eagle Fault with several holes reporting extremely high-grade gold drill intercepts. In particular, 386 g/t Au ⁽¹⁾over 9.15 m (ETW 3.35 m) in hole UDH1238 (Including 5,283 g/t Au⁽¹⁾over 0.6 m), 268 g/t Au ⁽¹⁾over 7.85 m (ETW 2.77 m) in hole UDH1255 (Including 5,276 g/t Au⁽¹⁾over 0.35 m) and 73.15 g/t Au ⁽¹⁾ over 8.7 m (ETW 7.78 m) in hole UDH1240A. Visible Gold has also been observed in the upper parts of Eagle zone in underground exposures.

• Lower Phoenix Footwall Fault returned high-grade intercept 77.87 g/t Au⁽¹⁾over 6.3 m (ETW 4.33 m) in hole UDH1219A

• An East Dipping Fault returned two significant intercepts with 246 g/t Au ⁽¹⁾over 0.90 m
  (ETW 0.81 m) in hole UDH1298 and 34.47 g/t Au over 5.1 m (ETW 4.09 m) in hole UDH1294

• Kestrel structure returned 5.37 g/t Au over 9.75 m (ETW 5.12 m) in hole UDH1274 and 6.16 g/t Au over 11.05 m (ETW 5.12 m) in hole UDH1122

⁽¹⁾ Visible gold present in drill intercept, ETW – Estimated True Width

Douglas Forster, president and CEO of Newmarket, commented:

The new drill results represent a second consecutive quarter of discoveries including the newly identified Eagle Fault and high-grade intercepts related to the previously discovered Lower Phoenix, East Dipping Faults and Kestrel structures. These results further expand the size and tenor of mineralization in Lower Phoenix and confirm significant gold mineralization at depth outside previously reported Indicated Mineral Resources. These drill results also represent the highest grades ever recorded at Fosterville and are encouraging as they support our view that Fosterville’s grade profile will continue its increasing trend. Over the last six months, the performance and advancement of our exploration program has been impressive and has successfully demonstrated the potential of the Lower Phoenix system. We continue to build confidence in geological model extensions that have the potential to expand resources and reserves southwards along strike and laterally, adjacent to the existing Mineral Reserve base. Looking ahead, we remain focused on executing on near-term drill targets to ensure future sustainable production at Fosterville. We look forward to providing a Mineral Resource and Reserve update in early 2016 based on our drill results to date and those of ongoing drilling programs.

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