Golden Share Refines Alteration Envelopes for Gold Mineralization with Lithogeochemistry at Berens River

14.10.2014  |  Newsfile

Toronto, Ontario--(Newsfile Corp. - October 14, 2014) - Golden Share Mining Corp. (TSXV: GSH) ("Golden Share" or the "Company") is pleased to provide an update on the lithogeochemical work executed during the summer 2014 on the Berens River project.

A total of 53 whole rock samples were collected during Golden Share's recent field campaign with 17 such samples in Golden Share's recent drill core (13 from DDH GSH-13-03 and 4 from DDH GSH-13-01) and 36 such samples from outcrops (17 in the northern part of the project and 9 in the south). These recent samples are identified as squares on the attached figures 1 to 3 highlighting the results from the northern part of the project.

The recent lithogeochemical work confirms previous trends outlined by historical geochemical data from DDH ZA-81-36 and demonstrates the applicability of the method in surface delineation of gold bearing alteration zones. The following key geochemical indexes have previously been used in the Red Lake gold camp as an evaluation tool in the assessment of gold related alteration and have been applied in the current Berens River study.

• The Spitz-Darling index (Al₂O₃/Na₂O) measures Na depletion and (or) Al₂O₃ enrichment and provides excellent proximal correlation with mineralized gold zones in Berens River Vein N°3 diamond drill core samples (Figure.1).
• The Sericite index (K₂O/(K₂O + Na₂O)) measures the K enrichment, notably through the replacement of feldspar by sericite and marks the external envelope of mineralized gold zones at Berens River (Figure.2).
• The Chlorite index ((MgO + Fe₂O₃)/(MgO + Fe₂O₃ + 2CaO + 2Na₂O)) measures the degree of chloritization, via addition of Mg and Fe. At Berens River, high Chlorite index values and elevated manganese levels are associated with Vein N°3 mineralization and MnO additions appear significant in the formation of the mineralization (Figure.3).

The surface data as outlined in figures 1 to 3 below also shows that lithogeochemistry was successful in outlining alteration outside of the principal zones of known mineralization, thereby opening up new areas for refined exploration. More specifically and of particular importance :

• The New Zone of Interest as defined by recent lithogeochemistry in the Borthwick Lake area is directly on strike with historical DDH NZ 88-19 which cut a mineralized intercept of 6.93 g/t Au and 46.07 g/t Ag over 7.50 m. As reported by the Company in March 2014, this historical hole was drilled by Noramco in the late eighties to test an east-west striking shear coincident with a VLF anomaly. It is located 1.5 km South of Vein N°1 and represents an additional, distinct, system from Veins N°1 and N°3. The casing of this hole was positively identified during the recent field campaign (Figure.4).

• The grey shaded alteration zone illustrated in figures 1 to 3 was defined by Glendenning Wallace Adams in 1986 who observed a "buff coloured" alteration directly related to the structure of Vein N°1. Adams then systematically mapped this visual alteration which he interpreted as sericitic alteration in the stratigraphic upper parts of the Caldera sequence. While this serves as good exploration guide, the recent lithogeochemistry not only confirms the presence of this alteration but defines potential targets outside Adams' buff alteration.

Prior to the recent field work, the Berens River project historical work data base comprised 109 whole rock geochemistry samples originating from government and company assessment reports, scientific articles and master thesis all published in the 1970's and 1980's. This historical data base includes whole rock geochemistry analysis on 43 core samples from DDH ZA-81-36 drilled in Vein N°3. These historical samples are identified as circles on the attached figures.

Lithogeochemical tools developed in the past five decades are currently being applied to precious and base metal exploration and successfully help in defining new sectors of hydrothermal alteration associated with mineralization. Golden Share will use this method as a complementary exploration tool on Berens River.

About Golden Share

Golden Share Mining Corp. is a Canadian-based mining exploration company developing a promising and well-balanced property portfolio in the mineral belts of Eastern Canada, a politically stable environment with a history of rich mineral endowment. On July 25, 2013 shareholders of the Company approved the merger with Silvore Fox Minerals Corp., a Canadian junior explorer listed on the TSX Venture Exchange (see press release dated July 25, 2013). Following this transaction Beijing Donia Resources Co. Ltd., a Chinese state-controlled company, has become Golden Share's largest shareholder with approximately 30.88% of its issued and outstanding Shares. Sinotech Minerals Exploration Co. Ltd., a leading Chinese mineral exploration and development company, is a 50.03% shareholder of Beijing Donia Resources Co. Ltd (For further details please see the recent Sinotech corporate presentation on: http://www.goldenshare.ca).

This new Chinese partner recognizes the value of Golden Share's well balanced portfolio of properties and sees the merged entity as an ideal platform to further develop its activities in mining exploration and development in North America, and notably in Eastern Canada, a politically stable environment with a rich history of mineral endowment.

Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a « Qualified Person » as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.

FOR MORE INFORMATION, CONSULT: http://www.goldenshare.ca
OR OUR FACEBOOK PAGE AT: https://www.facebook.com/golden.share.9

Golden Share Mining Corp.
Philippe Giaro, President & CEO
Tel: 1-905-968-1153 or Tel: 32-473-52-30-29
E-mail: phgiaro@skynet.be or E-mail: info@goldenshare.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Figure. 1 – Spitz-Darling index geochemical signatures in Berens River North area.

To view an enhanced version of the Spitz-Darling index in the Berens River North area, please visit:
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Figure. 2 – Sericite index geochemical signatures in Berens River North area.

To view an enhanced image of the Sericite index in the Berens River North area, please visit:
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Figure. 3 – Chlorite index geochemical signatures in Berens River North area.

To view an enhanced image of the Chlorite index in the Berens River North area, please visit:
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Figure. 4 – Casing of DDH NZ 88-19 located during 2014 summer work program (mineralized intercept of 6.93 g/t Au and 46.07 g/t Ag over 7.50 m).

To view an enhanced image of casting DDH NZ 88-19 located during 2014 summer work program, please visit:
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