|June 25, 2012|
Parlane Commences 2012 Exploration Program at the Big Bear Project in Central British Columbia
|Vancouver, British Columbia -- Parlane Resource Corp. (TSXV:PPP) ("Parlane" or the "Company") is pleased to announce that field crews have commenced work at the Big Bear property over areas that were targeted for drilling during the 2011 exploration program.|
The Big Bear property is located in the Omineca Mining Division, Nechako Plateau in central British Columbia, approximately 100 kilometres south of Vanderhoof and covers 14,366 hectares. It is located between two mineralized systems: New Gold Inc.'s Blackwater and the Capoose properties. The Big Bear is highly prospective for the discovery of similar epithermal, subvolcanic porphyry and transitional mineralization.
New Gold Inc. reports measured and indicated mineral resources at Blackwater of 5.5 million ounces of gold and 28.5 million ounces of silver (www.newgold.com news release March 7, 2012). Capoose's measured and indicated mineral resource is reported as 0.4 million ounces of gold and 26.6 million ounces of silver (www.newgold.com).
Big Bear field crews have started detailed geochemical sampling and preparing for ground-based induced polarization geophysical surveys over prospective areas that returned anomalous assays during the 2011 program. Gold assays from soil samples collected in 2011 ranged from 628 parts per billion (ppb) to less than 1 ppb. Drilling is planned for select target areas and a BC Mines Act permit has been issued to Parlane for this work. An extensive logging road network and recent beetle-kill harvesting provide excellent access to the Big Bear project area.
Ian Webster, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this release.
ON BEHALF OF THE BOARD
Signed "Robert Eadie"
Robert Eadie, President, Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact: Robert Eadie
Neither the 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.
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