Gold Summit Corporation is pleased to announce assay results from Holes 6, 7, 7A, 8 and 9, the remainder from the diamond drill program recently completed on the Tip Top property in Esmeralda County, Nevada. Assays from Holes 1 through 5 were announced on November 21, 2003. The new assays include adjacent high grade intersections of 13.32 g/t gold over 1.52m and 16.72 g/t gold over 1.58m (including 39.2 g/t over 0.55m) in holes 7 and 7A.
Dr. Anthony P. Taylor, President and CEO of Gold Summit states: “This first round of core drilling in the Tip Top Adit area has successfully extended a high grade gold shoot partially drilled by previous explorers. We now believe that this and other known ore shoots in the Tip Top Adit area have shallow northerly plunges along the plane of the north-east striking Tip Top fault zone. The next phase of drilling will concentrate on testing for further high grade extensions of this shoot to the north east as well as other targets along the 3.6 km strike length of the system that we see exposed”.
The high grade intersections in holes 7 and 7A represent an extension along strike and down-dip of an interval assaying 18.85 g/t gold over 6.6m in a reverse circulation hole drilled by a previous explorer and in Gold Summit Hole 2 (7.16 g/t gold over 0.94m) and Hole 3 (20.42 g/t over 0.75m), reported last November.
A summary of the new assays exceeding 1 gram per tonne (g/t) are tabulated below.
| TIP TOP ADIT ASSAY RESULTS |
| Hole |
From |
To |
Interval |
Interval |
Gold |
| |
Ft |
Ft |
Ft |
m |
g/t |
| 6 |
No gold assays > 1 g/t |
| 7 |
116.80 |
118.80 |
2.00 |
0.61 |
2.90 |
| |
121.50 |
122.70 |
1.20 |
0.36 |
2.35 |
| |
135.60 |
140.60 |
5.00 |
1.52 |
13.32 |
| 7A |
100.20 |
101.90 |
1.70 |
0.52 |
1.59 |
| |
119.00 |
120.20 |
1.20 |
0.36 |
1.70 |
| |
125.30 |
128.70 |
3.40 |
1.03 |
3.97 |
| |
128.70 |
130.50 |
1.80 |
0.55 |
39.23 |
| 8 No gold assays > 1 g/t |
| 9 No gold assays > 1 g/t | |
Gold Reef Drilling To Commence
Core drilling at the Gold Reef property, located about 50 miles SW of Needles, California will begin next week. An RC rig, pre-collaring a series of core holes, has been introduced into the program. The target here is a vein system that extends over some 3 km and reaches widths of up to 15 m. Surface grab samples from Gold Reef vein material have returned assay values as high as 11 g/t gold.
Other Projects
Field mapping and data compilation continue at Gold Summit’s Monte Cristo property located in the Gilbert district of Nevada. The company’s property portfolio includes the Blue Sphinx, Gold Springs, Wonder, and Gold Basin prospects in Nevada. All contain outcropping gold bearing veins, many with bonanza grades at surface and in shallow workings. All are essentially unexplored for their high grade, underground potential.
Gold Summit is well financed with capital in excess of CAD $3,000,000.
For further information, contact Hillary Vonich at (775) 284-7200, or visit our new web site at: www.goldsummitcorp.com
WARNING: The Company relies upon litigation protection for "forward-looking" statements. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. NOT for distribution in the USA. |
