Jan 18, 2010
Wayside Discovers New Zone NW of the Proposed Cariboo Gold Quartz Open Pit With Drill Intercept of 13.5m of 5.06 g/T Gold
News Release 10-03
Vancouver, BC - International Wayside Gold Mines Ltd. ("Wayside", the "Company") wishes to announce that it has discovered a new zone, outside and north west of the proposed Cariboo Gold Quartz open pit mine on Cow Mountain, of replacement-like gold mineralization in a rock type not known before to carry gold within this camp. The assay results from the Company's 2009 drill campaign follow below. Highlights of these assays include:
Further drilling will be conducted in 2010 to gain a better control and understanding of the continuity of both the replacement/replacement-like and the quartz vein types of mineralized body intercepted by drill hole CM09-07, CM09-08 and other related drill holes mentioned above in the northwest Cow Mountain area.
The 2009 drill program on Cow and Barkerville Mountains targeted both the replacement and quartz vein types of gold mineralization. In total, 13 diamond drill holes (of which, 11 are on Cow Mountain and 2 on Barkerville Mountain) have been completed in the 2009 calendar year. Drill holes CM09-04 through CM09-11 are the first drill holes that the Company has done in the northwest Cow Mountain area, outside of the proposed pit.
About International Wayside Gold Mines
The Company has been developing its Cariboo Gold Project in Barkerville, B.C., which encompasses (from northwest to south east) the former producing Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine (now on care and maintenance), Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine, Bonanza Ledge (proposed mine), the Cariboo Thompson Gold & Silver Mine and the Cariboo Hudson Mine. The Company commenced operations in the Cariboo District in 1994 and since that time has focused on the exploration and development of its gold properties. The Company's mineral tenures in the Historic Barkerville Gold Camp encompass approximately 1,065 square km (106,484 hectares) over a 60km by 20km wide belt. In the Historic Barkerville Gold Camp, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining. On December 16, 2009, the Company entered into an agreement by which it will acquire the QR Mine and Mill, 110km by road from its Bonanza Ledge proposed open pit gold deposit.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
Table 1. SUMMARY OF ASSAYS OF 2009 DRILL HOLES
On Behalf of the Board of Directors
"J. Frank Callaghan"
J. Frank Callaghan
This news release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements. The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
*please refer to cautionary note