Punchline Resources Reports 3,000 Ft. Potential Strike Length At Swordfish Target In Winnemucca Mountain Gold Project
LAS VEGAS, April 10, 2013 /PRNewswire/ -- Punchline Resources Ltd. (OTCQB: PUNL) (OTCBB: PUNL) ("Punchline" or the "Company") is pleased to report that initial geologic mapping has shown a series of quartz vein outcroppings over a total strike length of approximately 3,000 feet in the Swordfish Target area at the Winnemucca Mountain Property in Humboldt County, Nevada, USA.
"Initial exploration reports from the Winnemucca Mountain gold project have indicated that the total strike length at the Swordfish Target is potentially significantly longer than the 2,200 feet previously outlined by Santa Fe Pacific in the 1990's," said Ramzan Savji, CEO and President of Punchline. "In addition, geologists in the field have stated that the steeply dipping quartz veins appear to be associated with a northeast trending shear zone that is several hundred feet wide."
This field report is part of the ongoing geologic mapping, rock sampling, and geochemical exploration program currently being undertaken by the Company at the Winnemucca Mountain Property. Results from this phase of the exploration program will be combined with available historic data to construct 3D modeling of the potential resource target area and to determine an ideal drilling strategy.
Mr. Savji concluded, "This initial phase of the planned exploration at Winnemucca is expected to be completed within the next 48 hours, after which samples will be sent to a local certified laboratory for immediate testing."Winnemucca Mountain Property Summary The Winnemucca Mountain Property covers 3,800 acres and is located in an area of numerous past and current gold mines. Modern exploration began in the 1980's with mapping, geochemical sampling, geophysics, and drilling conducted by several companies including St. Joe, Cordex, Tenneco, and Santa Fe Pacific Gold. By the mid-1990's over 52,000 feet of drilling had been completed. A large percentage of this drilling was done in the Swordfish Target which is currently being evaluated by Punchline as a potential resource.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts