TORONTO-- Sep 11, 2012 - Punchline Resources Ltd. (OTCQB: PUNL) (OTCBB: PUNL) ("Punchline" or the "Company") is pleased to announce commencement of an exploration work program at the Empress Property, located approximately 26 miles south of Goldfield, Nevada. The Company has directed qualified geologists to the property to undertake a sampling program targeting underground historic mine workings as well as surface exposures of possible gold/silver bearing quartz veins and other altered rocks.
"The Empress Property is an exciting opportunity for the Company mainly because of the widespread production history of the local area and great exploration upside potential, but also due to the property's location, ease of road access, and readily available qualified mining experts to move the project forward quickly," said Ramzan Savji, CEO and President of Punchline. "Because of these ideal conditions, we already have our people on the ground at the historic mine sites taking new samples of the old workings and mapping the property to identify possible targets for a drill program to test the promising gold/silver bearing veins. We expect to have initial sample results back from a third-party testing facility within two weeks."
In total, seven (7) horizontal adits make up the two historical mines within the property, the Empress Mine and the Wonder Mine. The Empress Mine was discovered in the 1860s and although past production was poorly documented, there are still remnants of a mill and stone foundations. The Wonder Mine, located 2,000 feet southwest of Empress, was worked in the 1930s and has the most accessible workings of the two mines. Many of the other workings are badly caved. Historic exploration and mining activity appears to indicate two possible gold/silver vein targets located on the property that the Company believes warrant follow-up and possible diamond drilling to test mineral grade and continuity at depth.
About Punchline Resources
Punchline Resources Ltd. is an emerging mineral resources company focused on both domestic and international exploration and development projects. The Company is currently exploring the Empress Gold and Silver Property, in Nevada, USA. The Company is also evaluating several additional projects for potential acquisition and/or participation.
Some information in this press release constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements such as the timing and results of exploration on the Empress Property. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Punchline Resources Ltd. herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Punchline Resources Ltd. disclaims any obligation to update forward-looking statements contained in this press release, except as may be required by law.
For further information regarding Punchline, contact:
PUNCHLINE INVESTOR RELATIONS
(888) 553-9995 (TOLL-FREE)
SOURCE: Punchline Resources