September 14, 2011, Toronto, Ontario, Canada – Escape Gold Inc. (TSX-V: EGT) (the “Company”) is pleased to announce the initial exploration results from the KAN gold project, located in Nunavik Territory, northern Quebec. A new gold showing labelled “KTR2” returned 3.12 g/t Au over 13.89 metres. The new gold zone is open in all directions and has excellent potential to be expanded. The KTR2 showing is located on a prominent topographic high called the Pump Pad Ridge and is located about 1.2 km north-west of the original KAN base metal showing.
The field season started in July and consisted of an extensive soil and rock sampling program following up on the iron formation hosted gold targets first identified by Kennecott Canada Inc. (“Kennecott”) in 1993. The primary goals of this year’s initial exploration program were to re-locate and validate the historical geological data and to expand known gold and base metal zones defined by the previous operators. Geological mapping, soil geochemistry, rock sampling and prospecting was carried out in the field and crews were able to re-locate and validate the historical geological data. Historical diamond drill core was stored on the property and is preserved in excellent shape. Most holes drilled through the iron formation were not split and assayed. This represents a great opportunity for re-evaluating the historical drilling records for gold mineralization hosted within the iron formation. Since the previous drilling focused on the base metal potential, it is believed that the historic drilling was not drilled at the optimal angle for gold within the iron formation in this area.
The KTR2 showing located on the Pump Pad Ridge shows that gold mineralization is associated with intense NorthSouth trending quartz-ankerite veinlets and stockworks located within folded carbonate facies iron formation. Assays have been received for two complete continuous East-West channel samples. The longest of the channels returned 11.44 meters of 2.98 g/t Au and second shorter channel was continued 5 metres to the south of the 11.44 metre gold section and returned 2.45 metres of 3.77 g/t Au. The combined width and grade of channel samples averaged 3.12 g/t Au over 13.89 metres. Further sampling results immediately east and northeast of the showing are pending and is expected to increase the overall length of the mineralization.
In all, 1454 B-horizon soil samples, 553 MMI soil samples and 501 rock samples were collected within the extended boundaries of the KAN project and sent to ALS Chemex Laboratories in Val d’Or Quebec for analysis.
Due to these encouraging initial results the Company staked additional claims and the strike length of favourable stratigraphy at the KAN project now extends for approximately 34 km North-South.
In 1993, during base metal reconnaissance work, Kennecott discovered a quartz vein hosted gold mineralization cross-cutting iron formations located more than 6 km northwest of the KTR2 showing. This vein (the Ferricrete showing) reported historic surface channel assays of up to 280.8g/t gold over 0.30m and 143.4 g/t gold over 0.40m. Furthermore, the Koke SEDEX deposit of Xstrata is located adjacent to the northern boundary of the KAN project. The Koke project has a reported historical, non NI 43-101 compliant, SEDEX resource of: 1.06Mt at 6.86% Zinc, 1.03% Lead, and 0.70% Copper, 54.5g /t Silver and 1.03g/t Gold.
The Company is also extremely pleased with the encouragement and support of the Inuit First Nation community in Kuujjuaq, Nunavik Territory. In the spirit of consultation and co operation the exploration campaign was based out of Kuujjuaq with economic benefits being shared by all stakeholders. The 2011 exploration program is now completed for the season and additional assay results are pending receipt and compilation.
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The Labrador Trough is well known for its world class iron deposits and numerous base metal and nickel occurrences. These new gold showings add to the innovative conceptual geological model of potential bulk mineable gold mineralization hosted in iron formation within the Labrador Trough, Quebec.
Historical results from a limited diamond drilling program by Kennecott in 1994-1995 are reported below:
Source data notes: Assessment records filed with Quebec MRN by Kennecott Canada Inc. Historical technical data and not NI-43-101 compliant
A strict quality assurance/quality control program was applied to all samples, which includes mineralized standards and blank samples for each batch of 20 to 30 samples. All samples were sent to ALS Chemex in Val d’Or, Quebec, an accredited commercial laboratory. The gold analyses were completed by fire assay with an atomic absorption finish on 30 grams of material.
T. John Magee, P.Geo., President and CEO of the Company is the Qualified Person who has reviewed and is responsible for the technical data contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS OF ESCAPE GOLD INC.
T. John Magee
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
For more information contact:
T John Magee, President and CEO
Website: www.escapegold.com, Tel: (416) 479-9546