Wednesday, October 7, 2009

Canadian Stock Research - International Wayside Gold Mines

Canadian Stock Research News Update:

"Wayside Drills 84.4m (277.0 feet) of 16.5 g/T (0.481 oz/t) Gold Including 37.5m (123.1 feet) of 36.1 g/T (1.052 oz/t) Gold"

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2009) - International Wayside Gold Mines Ltd. (TSX VENTURE:WYG)(FRANKFURT:IWUB) ("Wayside", the "Company") announced today that it has received more results from its infill diamond drill program in the Bonanza Ledge Zone on Barkerville Mountain (Table 1).

The proposed 17 hole infill diamond drill program in the Bonanza Ledge Zone will upgrade its existing NI 43-101 resource from an inferred to indicated category. To date, 16 of 17 drill holes have been completed. BC09-01 through BC09-05, BC09-07 through BC09-09 (please see September 17 and October 5, 2009 News Releases), BC09-11 and BC09-12 have returned promising intercepts containing gold mineralization.

- Drill hole BC09-12 intercepted gold mineralization from 3.048 meters (10 feet below surface) to 87.48 meters (287 feet below surface):

-- 84.4 meters (277.0 feet) of 16.5 g/T (0.481 oz/t) gold,

--- including 37.5 meters (123.1 feet) of 36.1 g/T (1.052 oz/t) gold,

Results from the remaining holes in the infill program are forthcoming.

Cow Mountain Drill Program

Drill holes CM09-01 through CM09-03 were completed beside the Lowhee Creek on Cow Mountain and confirm the 2.2 km mine grid west extension of the BC Vein and Bonanza Ledge style mineralization.

Drill hole CM09-03, drilled approximately 2.2 km northwest of center of the proposed Bonanza Ledge open pit mine, intercepted a fine-grained pyrite replacement body in a fault zone (Lowhee Fault or related), which contains up to 60% fine-grained pyrite and returned up to 22.7 g/T gold (see October 5, 2009 News Release). Initial interpretation suggests the Company has discovered the northwest trend along strike of Bonanza Ledge style replacement mineralization, being similarly hosted in clastic rocks in the same mine trend. More drill holes are needed to have a better understanding of the pyrite replacement body locally, which could assist Wayside in its future exploration programs to identify similar zones along the approximately 60 km mine trend on the Company's property.

Canadian Stock Research news update comes courtesy of StockResearchPortal. To view the complete version of this news release visit Stock Research Portal