| To: LoneClone who wrote (168966) | 12/7/2022 3:13:20 PM | | From: LoneClone | | | | DLP Resources Intersects 214m of 0.43% CuEq* (0.35% Cu, 113.88ppm Mo and 3.95g/t Ag) on the Aurora Project in Southern Peru
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Cranbrook, British Columbia--(Newsfile Corp. - December 5, 2022) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) ("DLP" or the "Company") announces receipt of complete drill results for the first two holes, A22-001 and A22-002 on the Aurora porphyry copper-molybdenum project in southern Peru (Figure 1). In addition, hole A22-003 was completed to a depth of 702.30m on November 30.
Results for the initial 179.2m of Hole A22-001 were released on September 29, 2022 (see DLP Resources Inc. news release of September 29, 2022).
Highlights
In addition to the 123.35m (22.45m to 145.80m) of 0.54% CuEq* (0.49% Cu, 36.49ppm Mo and 4.20ppm Ag) intersected in A22-001 an additional 215.10m of 0.33% CuEq* (0.24% Cu, 167.96ppm Mo and 3.47g/t Ag), was intersected from 179.2m to 388m. The complete set of results for A22-001 are summarized in Table 1 below.
Hole A22-002 returned 214.40m (209m to 422.4m) with 0.43% CuEq* (0.35% Cu, 113.88ppm Mo and 3.95g/t Ag). Within this interval a higher-grade intersection of 52m (244m to 296m) returned 0.61% CuEq* (0.52% Cu, 130.55ppm Mo and 4.53g/t Ag). The complete set of results for A22-002 are summarized in Table 3 below.
Results from these first two holes on the Aurora project have confirmed this is a copper-molybdenum rich porphyry system with copper equivalent grades between 0.33% and 0.91% Cu (Table 1).
Hole A22-003 ended at 702.30m with visually encouraging copper and molybdenum mineralization observed throughout the hole. Samples are in the laboratory for assaying and results are expected at the end of December. Secondary enrichment of copper (chalcocite and covellite) is logged from 112m to 271m with molybdenite-rich veins throughout the lower 300m in quartz feldspar porphyry (see Figure 5).
Mr. Gendall President and CEO commented: "With geological information and results received for two of the three holes drilled to date we are extremely encouraged with the continued definition of the Aurora porphyry copper-molybdenum-silver system. This is a multiphase porphyry with higher grade copper mineralization observed in some narrow, earlier porphyry dykes at higher elevations. We will continue to target the higher-grade porphyry phases at depth".
Aurora Cu-Mo Project - Summary of Drill Results for A22-001 and A22-002
A22-001
Hole A22-001 was drilled to the NE of the mapped porphyry and hornfels contact at an angle of 70 degrees towards an azimuth of 170 degrees (Table 2, Figures 2, 3 and 4). The logged geology is summarized as follows:
Partially leached polymictic breccia from 0.50m to 22.45m.Mixed limonitic zone of partially leached sulphides consisting mainly of chalcopyrite and pyrite with copper oxides and secondary covellite and chalcocite on fractures in a polymictic breccia with occasional quartz-eye-feldspar porphyry down to 61.60m.Mixed limonitic zone of partially leached sulphides (chalcopyrite and pyrite) in silicified siltstone, hornfels and brecciated hornfels with secondary covellite and chalcocite on sulphides and fractures down to 124.30m. Narrow 1-4m thick porphyry rock units cross-cut hornfels.Quartz-eye-feldspar porphyry from 124.30m to 135.33m with limonite after chalcopyrite and pyrite and chalcocite and native copper at base of oxidation zone around 128.80m.Silicified siltstone and hornfels with occasional porphyry intervals from 128.80m down to 172.90m with chalcopyrite and pyrite and secondary copper sulphides along fractures. A fault zone extends from approximately 145.80m to 172.90m.Quartz-sericite altered hornfels, intrusive breccias and quartz-eye feldspar porphyry dykes of 4-7m wide in the upper 27m of the interval from 172.90m to 388.00m. Mineralization included disseminated chalcopyrite, molybdenite, pyrite and pyrrhotite.
Table 1. Summary of Initial Drill Results for Diamond Drill Hole A22-001. All grades are length-weighted averages of samples within the interval reported.
| Hole | From | To | Interval1 | Description | Cu (total) | Mo | Ag | Cueq* | | ID | m | m | m |
| % | ppm | ppm | % | | A22-001 | 0.50 | 22.45 | 21.95 | Partially Leached | 0.12 | 51.23 | 2.98 | 0.17 |
| 22.45 | 388.00 | 365.55 | Oxidized/Mixed/Primary | 0.33 | 114.16 | 3.64 | 0.41 | | Includes | 22.45 | 145.80 | 123.35 | Oxidized/Mixed | 0.49 | 36.49 | 4.20 | 0.54 | | Includes | 100.35 | 145.80 | 45.45 | Enriched | 0.64 | 17.41 | 3.40 | 0.68 | | Includes | 100.35 | 124.30 | 23.95 | Enriched | 0.87 | 23.70 | 3.43 | 0.91 | | Includes | 108.65 | 124.30 | 15.65
| Enriched | 1.09 | 32.75 | 3.00 | 1.10 |
| 145.80 | 172.90 | 21.10 | #Fault zone/Mixed | 0.23 | 68.79 | 1.16 | 0.27 |
| 172.90 | 388.00 | 215.10 | Primary | 0.24 | 167.96 | 3.47 | 0.33 | | Includes | 298.85 | 326.00 | 27.15 | Primary | 0.48 | 31.15 | 7.01 | 0.56 | | Includes | 366.00 | 388.00 | 22.00 | Primary - Mo rich | 0.21 | 573.45 | 1.43 | 0.42 |
Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% for the first 145.80m and from 172.90m to 388m as the project is at an early stage of exploration and there is insufficient metallurgical data for estimation of metal recoveries.
# From 145.80m to 172.90m core recovery is estimated to be 78% of interval due to the fault zone and is "incomplete" and "not representative" of metal grades reported. Cueq value for this interval is "not representative".
*Copper-equivalence is calculated as: CuEq (%) = Cu (%) + [3.55 × Mo (%)] + [0.0095 × Ag (g/t)], utilizing metal prices of Cu - US$3.34/lb, Mo - US$11.86/lb and Ag - US$21.87/oz.
1 Intervals are downhole drilled core lengths. Drilling data to date is insufficient to determine true width of mineralization. Assay values are uncut.
Table 2: A22-001 Diamond drill hole location, depth, orientation and dip.
| Hole | Easting | Northing | Elevation | Length | Azimuth | Dip | | ID |
|
| m | m | Degrees | Degrees | | A22-001 | 190,082 | 8,566,230 | 2801 | 388 | 170 | 70 |
Co-ordinates are in WGS84 Zone 19S
A22-002
Hole A22-002 was drilled to the NE of the mapped porphyry and hornfels contact at an angle of 60 degrees towards an azimuth of 235 degrees (Table 4, Figures 2, 3 and 4). The logged geology is summarized as follows:
Leached hornfels, intermineral porphyry dyke and intrusive breccia from 0.10m to 89.40m. Quartz-sericite with intermediate argillic alteration predominates with limonite throughout. Limonite occurs throughout with trace sulphides of pyrite and chalcopyrite.Partially leached zone within hornfels and intrusive breccias occur from 89.40m to 208.00m Mixed limonitic zone of partially leached sulphides consisting mainly of chalcopyrite and pyrite with secondary covellite and chalcocite on fractures in intrusive breccia. Molybdenite veinlets up to 2cm in width are scattered throughout. Sericite and intermediate argillic alteration predominate with limonite.From 208.00m to 422.40 is a mixed zone of partially leached sulphides (chalcopyrite and pyrite) in quartz-sericite and intermediate argillic altered hornfels, intrusive breccias and quartz-eye feldspar porphyries with secondary covellite and chalcocite on sulphides and fractures from 208.00m to 251.3. Enriched copper zone.Quartz-sericite with overprint of intermediate argillic alteration of hornfels, intrusive breccias and quartz-eye feldspar porphyry dykes of 4-20m wide occur throughout this interval from 251.3m to 422.40m. Mineralization included disseminated chalcopyrite, molybdenite, pyrite and pyrrhotite. Quartz veinlets occur throughout.A late, poor mineralized quartz-eye feldspar porphyry and intermineral porphyry occur from 422.40m to 479.00m. Quartz-sericite alteration predominates with intermediate argillic overprint. Mineralization includes pyrite, chalcopyrite, molybdenite disseminated and in quartz veins in the intermineral quartz-eye feldspar porphyry.In the last 82.60m of the hole from 479.00m to 561,60m a quartz-eye feldspar porphyry (intermineral) with abundant Mo veinlets is logged.
Table 3. Summary of Initial Drill Results for Diamond Drill Hole A22-002. All grades are length-weighted averages of samples within the interval reported.
| Hole | From | To | Interval1 | Description | Cu (total) | Mo | Ag | Cueq* | | ID | m | m | m |
| % | ppm | ppm | % | | A22-002 | 0.10 | 89.40 | 89.30 | Leached | 0.04 | 48.38 | 0.55 | 0.06 |
| 89.40 | 208.00 | 118.60 | Partially Leached | 0.22 | 67.24 | 2.53 | 0.26 |
| 208.00 | 422.40 | 214.40 | Oxidized/Mixed/Primary | 0.35 | 113.88 | 3.95 | 0.43 | | Includes | 244.00 | 296.00 | 52.00 | Primary | 0.52 | 130.55 | 4.53 | 0.61 |
| 422.40 | 479.00 | 56.60 | Primary (Late Porphyry) | 0.09 | 72.09 | 1.29 | 0.13 |
| 479.00 | 561.60 | 82.60 | Primary - Mo rich | 0.19 | 349.49 | 1.34 | 0.33 |
Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% for the 561.60m as the project is at an early stage of exploration and there is insufficient metallurgical data for estimation of metal recoveries.
*Copper-equivalence is calculated as: CuEq (%) = Cu (%) + [3.55 × Mo (%)] + [0.0095 × Ag (g/t)], utilizing metal prices of Cu - US$3.34/lb, Mo - US$11.86/lb and Ag - US$21.87/oz.
1 Intervals are downhole drilled core lengths. Drilling data to date is insufficient to determine true width of mineralization. Assay values are uncut.
Table 4: A22-002 Diamond drill hole location, depth, orientation and dip.
| Hole | Easting | Northing | Elevation | Length | Azimuth | Dip | | ID |
|
| m | m | Degrees | Degrees | | A22-002 | 190,176 | 8,566,179 | 2885 | 561.6 | 235 | 60 |
Co-ordinates are in WGS84 Zone 19S
Quality Control and Quality Assurance
DLP Resources Peru S.A.C a subsidiary of DLP Resources Inc. supervises drilling and carries out sampling of HTW and NTW core. Logging and sampling are completed at a secured Company facility situated on the project site. Sample intervals are nominally 1.5 to 2m in length. Drill core is cut in half using a rotary diamond blade saw and samples are sealed on site before transportation to the ALS Peru S.A.C. sample preparation facility in Arequipa by Company vehicles and staff. Prepared samples are sent to Lima by ALS Peru S.A.C. for analysis. ALS Peru S.A.C. is an independent laboratory. Samples are analyzed for 48 elements using a four-acid digestion and ICP-MS analysis (ME-MS61). In addition, sequential copper analyses are done and reports, soluble copper using sulphuric acid leach, soluble copper in cyanide leach, residual copper and total copper. ALS meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures.
DLP Resources independently monitors quality control and quality assurance ("QA/QC") through a program that includes the insertion of blind certified reference materials (standards), blanks and pulp duplicate samples. The company is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data reported to 145.80m in A22-001. From 145.80m to 172.90m in A22-001 core recovery is estimated to be 78% of the total sampled interval and data maybe considered to be "incomplete" and "not representative" for this interval.
Aurora Project
Aurora Project as an advanced stage porphyry copper-molybdenum exploration project in the Province of Calca, SE Peru (Figure 1). The Aurora Project was previously permitted for drilling in 2015 but was never executed. Thirteen historical drill holes, drilled in 2001 and 2005 totaling 3,900m were drilled over an area of approximately 1000m by 800m, cut significant intervals of copper and molybdenum mineralization. From logging of the only three remaining holes DDA-01, DDA-3A and DDA-3 and data now available, it appears that only three of the thirteen holes tested the enriched copper zone and only one hole drilled deep enough to test the primary copper and molybdenum zone (see DLP Resources Inc. news release of May 18, 2021)
Salient historic drill hole data of the Aurora Project are:
- 190m @ 0.57% Cu, 0.008% Mo in DDA-1 with a high-grade intercept of 20m @ 1.01% Cu related to a supergene enrichment zone of secondary chalcocite;
- 142m @ 0.5% Cu, 0.004% Mo in DDA-3;
- 71.7m @ 0.7% Cu, 0.007% Mo in DDA-3A (see historical Focus Ventures Ltd. news release July 11, 2012); and
- One of the historical holes ABC-6 drilled on the edge of the system intersected 64m @ 0.49% Cu and 0.087ppm Mo (Figure 2)
A review of the historical drilling indicates that the majority of the thirteen holes were drilled in the leached and partially leached zones of the porphyry system. Ten of the thirteen holes never fully tested the oxide and secondary enrichment zone and/or the primary copper zone at depth encountered in DDA-01. Copper-molybdenum mineralization is hosted by quartz-feldspar porphyries intruded into slates-hornfels and pelitic sandstones belonging to the Ordovician (439 - 463 ma) Sandia Formation.
Figure 1: DLP Project areas in Peru with Aurora Project Shown.
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Figure 2. Aurora Project - Simplified geology showing historic drilling and A22-001, A22-002 and A22-003 location
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Figure 3. Aurora Project - Simplified diagram showing historic drilling and proposed DLP drill holes with A22-001 and A22-002 and A22-003
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Figure 4: Aurora porphyry copper-molybdenum project - Drill core mineralization from A22-002
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Figure 5: Aurora porphyry copper-molybdenum project - Drill core mineralization from A22-003
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Qualified Person
David L. Pighin, consulting geologist and co-founder of DLP Resources, is the qualified person of the Company as defined by National Instrument 43-101. Mr. Pighin has reviewed and approved the technical contents of this news release.
About DLP Resources Inc.
DLP Resources Inc. is a mineral exploration company operating in Southeastern British Columbia and Peru, exploring for Base Metals and Cobalt. DLP is listed on the TSX-V, trading symbol DLP and on the OTCQB, trading symbol DLPRF. Please refer to our web site www.dlpresourcesinc.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
DLP RESOURCES INC.
Ian Gendall, CEO & President
Jim Stypula, Executive Chairman
Robin Sudo, Chief Financial Officer and Corporate Secretary
Maxwell Reinhart, Investor Relations
Telephone: 250-426-7808
Email: iangendall@dlpresourcesinc.com
Email: jimstypula@dlpresourcesinc.com
Email: robinsudo@dlpresourcesinc.com
Email: maxreinhart@dlpresourcesinc.com
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.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to drilling on Aurora Project in Peru.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things drill results expected from the Aurora Project in Peru.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor. |
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| To: LoneClone who wrote (168967) | 12/7/2022 3:16:33 PM | | From: LoneClone | | | | Nevada Lithium Resources/Iconic Minerals Find Strong Correlation Between Drill Holes at Bonnie Claire Lithium Project
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Vancouver, British Columbia--(Newsfile Corp. - December 7, 2022) - Iconic Minerals Ltd. (TSXV: ICM) (OTCQB: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") and its 50% partner in the Bonnie Claire Lithium Project (the 'Project' or 'Property') Nevada Lithium Resources Inc. (CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K) ("Nevada Lithium"), are pleased to provide an update on the 2022 drill program for the Bonnie Claire Lithium Project (the 'Project' or 'Property'), located in Nye County, Nevada. Lab tests results confirm that the rock types and assay values between core hole BC2201C and core hole BC2203C correlate well. These correlating rock types are identified as an upper mudstone unit underlain by sandstone, which is underlain by additional mudstone.
Iconic Minerals Ltd CEO, Richard Kern, comments: "The key to moving from resource to reserve is to show continuity between our widely spaced drill holes. These two holes are a good start in this process."
The assays for hole BC2203C, which is located roughly one-half mile from BC2201C, have been certified by ALS Laboratories. The assay lengths from BC2203C average 19.6 feet (6 meters), which is roughly three times longer than the 6.9 foot (2 meter) average length of assays taken from the first hole, resulting in a smoother assay value curve. For example, the highest lithium assay in BC2203C was 4,740ppm Li where BC2201C had a high of 5,570 ppm. The assay values of the two holes are shown graphed below.
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Assay values correlate well between the two holes, despite the gaps in results and variable sample lengths from BC2201C. The chart below shows weighted average lithium values for the two drill holes.
| Drill Hole | Entire Hole Average Li ppm | 80 - 380 feet (24-16 meters) Average Li ppm | 1040 - 2000 feet (317 - 610 meters) Average Li ppm | | BC 2201C | 1231 | 1056 | 2061 | | BC 2203C | 1315 | 1029 | 2213 |
All Averages are Weighted Averages
BC2203C has a "Shallow Zone" between roughly 80 and 380 feet (24 and 116 meters) from the surface which has assays averaging 97% of the previous hole's values. BC2203C's "Deep Zone" is located between approximately 1040 feet and 2,000 feet (317 and 610 meters) and has assays averaging 107% of the previous hole's values. Overall, hole BC2203C's assays averaged 107% of BC2201C's assays, which is very close considering roughly 15% of BC2201C's material has yet to be assayed. This shows the partial results from BC2201C are probably close to the final results in values. Barr Engineering Company is working with the unassayed samples. Based on geologic logging of the core from other nearby holes, future assays are expected so show a similar correlation.
Quality Assurance / Quality Control (QAQC)
As core was being drilled at Bonnie Claire it was moved to a secure warehouse after each shift. It was logged and split by core saw and securely shipped to the geochem lab. Standards, blanks and sample repeats totaling 10% of the samples that were submitted were disguised within each lab shipment. All samples in the lab were crushed, pulverized, and dissolved in aqua regia before being analyzed by Inductively Coupled Plasma Mass Spectrometry ("ICP-MS"). This method determines elemental values for 52 elements, including Lithium.
The Company is currently completing additional analytical testing of its drilling samples with American Assay Laboratories Inc. in Sparks, Nevada for secondary independent testing. In addition, Global Resource Engineering (GRE) is collecting and assaying new quarter-core samples in preparation for writing the Project's Prefeasibility Study (PFS).
Qualified Person
Richard Kern, Certified Professional Geologist, a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Kern is not independent of the Company as he is the Chief Executive Officer of Iconic.
Bonnie Claire Property
The Bonnie Claire Property is located within Sarcobatus Valley, which is approximately 30 km (19 miles) long and 20 km (12 miles) wide. Quartz-rich volcanic tuffs containing anomalous amounts of lithium occur within and adjacent to the valley. Drill results from the salt flat have included lithium values as high as 5570 ppm Li and a 1560 foot (roughly 475 meter) vertical intercept that averaged 1153 ppm Li. The current 43-101 resource from the PFS report for borehole mineable portion of the resource is 3,407 million tonnes grading 1,013 ppm Li or 18,372 million kilograms of lithium carbonate equivalent. (though this is a resource, not a reserve, and has not yet proven economic viability). The gravity low within the valley is 20 km (12 miles) long, and the current estimates of depth to basement rocks range from 600 to 1,200 meters (2,000 to 4,000 feet). The current claim block covers an area of 74 km2 (28.6 mi2) with potential for brine systems and further sediment resources.
On behalf of the Board of Directors
SIGNED: "Richard Kern"
Richard Kern, President and CEO
Contact: Keturah Nathe, VP Corporate Development (604) 336-8614
For further information on Iconic, please visit our website at www.iconicminerals.com. The Company's public documents may be accessed at www.sedar.com.
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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to the Option, the Joint Venture, the amount of the Offering, the expected use of proceeds from the Offering and the future business plans and exploration activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "will", "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that investor interest will be sufficient to close the Offering, that market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals required for the Option Agreement and the future development of the Company's projects in a timely manner.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, including on the Smith Creek Property, requirements for additional capital, future prices of lithium and gold, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the business, financial condition and exploration and development activities of the Company, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including of the TSX Venture Exchange in respect of the Option Agreement and the Offering, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management's Discussion and Analysis and filed with the Canadian Securities Authorities. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law. |
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| To: LoneClone who wrote (168968) | 12/7/2022 3:17:45 PM | | From: LoneClone | | | | Blackrock Discovers Bonanza Grades in New Vein at Silver Cloud - 52.6 g/t Gold and 606 g/t Silver over 1.5 Metres in Northwest Canyon
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Vancouver, British Columbia--(Newsfile Corp. - December 7, 2022) - Blackrock Silver Corp. (TSXV: BRC) (the "Company" or "Blackrock") is pleased to announce the results of its recently completed diamond exploration drill program on its 100% controlled Silver Cloud project situated 20 kilometres south of the Midas mine and 3 kilometres west of Hollister mine, along the prolific Northern Nevada Rift in north-central Nevada.
The Company completed three diamond core holes, SBC22-019, -020, AND -021, totalling 1,447 metres (4,746 ft) in two target areas on the Silver Cloud project. Two holes totalling 927 metres were completed adjacent to the Silver Cloud mine and one hole, 520 metres, was drilled at Northwest Canyon.
Highlights:
Bonanza grades were returned from SBC22-020, which intersected 52.62 g/t gold (1.53 opt) and 606 g/t silver (17.68 opt) over 1.5 metres in the Northwest Canyon area, representing a new high-grade vein discovery now known as Zeus;
SBC22-020 was directed at a conceptually projected structure based on results received from Blackrock's SBC19-002 (8.32 g/t gold over 1.52m) and Placer Dome's SCP-15 (5.61 g/t gold over 12.2m). These assay intercepts represent a high-grade drill defined structure separated by 425 metres;
The bonanza grades are associated with a banded quartz vein which contains black sulphides, and the 606 g/t silver is the highest-grade silver intercept on the Silver Cloud property to date;
SBC22- -021 drilled at Silver Cloud Mine returned significant thickness of low-grade gold returning 20.6 metres grading 0.458 g/t gold; and
Coarse gold is known to occur on the property, and all significant gold intervals will be re-submitted to the assay laboratory for metallic-screen analysis.
Andrew Pollard, Blackrock President and CEO, commented, "Silver Cloud was the project Blackrock was built around in its current form beginning three years ago, and though our Tonopah West property has now become a globally significant silver discovery, it's Silver Cloud that has returned our highest-grade gold intercept as a Company to date, in the process, establishing a new bona fide high-grade discovery on one of the most prolific gold belts in Nevada. Our understanding of the rich ore deposits along the Northern Nevada Rift were key to making the Zeus discovery. The Midas mine, located 20 kilometres to the north, which started with a similar intercept, ultimately lead to the discovery of the Colorado Grande and Gold Crown veins which were 0.3 to 6 metres wide, yet managed to form the basis for one of Nevada's most iconic historic gold mines. Making a blind discovery of this magnitude on such a limited round of drilling is a testament to the caliber of our geologic team. The discovery of Zeus may have just parted the Silver Clouds once and for all, with indications that the system has plenty of room to grow from here."
Table 1: Silver Cloud significant diamond drill hole assays above 0.3 g/t gold
| Hole ID | Area | From (m) | To (m) | Length (m) | Au g/t | Ag g/t | AgEq g/t | | SBC22-019 | Silver Cloud Mine | 218.85 | 221.90 | 3.05 | 0.442 | 0.385 | 44.6 | | SBC22-019 | Silver Cloud Mine | 224.94 | 227.99 | 3.05 | 0.377 | 0.360 | 38.0 | | SBC22-019 | Silver Cloud Mine | 266.24 | 267.31 | 1.07 | 0.578 | 0.49 | 58.3 | | SBC22-020 | Northwest Canyon | 307.54 | 309.07 | 1.52 | 52.617 | 606.00 | 5959.3 | | SBC22-021 | Silver Cloud Mine | 178.61 | 187.91 | 9.30 | 0.397 | 0.131 | 39.8 | | SBC22-021 | Silver Cloud Mine | 197.97 | 198.73 | 0.76 | 0.465 | 0.03 | 46.5 | | SBC22-021 | Silver Cloud Mine | 203.30 | 204.83 | 1.52 | 0.361 | 0.03 | 36.1 | | SBC22-021 | Silver Cloud Mine | 215.49 | 217.02 | 1.52 | 0.486 | 0.18 | 48.8 | | SBC22-021 | Silver Cloud Mine | 256.64 | 257.86 | 1.22 | 0.411 | 0.93 | 42.0 | | SBC22-021 | Silver Cloud Mine | 287.73 | 290.78 | 3.05 | 0.494 | 0.24 | 49.6 | | SBC22-021 | Silver Cloud Mine | 296.88 | 299.31 | 2.44 | 0.389 | 0.030 | 39.0 | | SBC22-021 | Silver Cloud Mine | 359.82 | 380.39 | 20.57 | 0.458 | 3.491 | 49.3 | | SBC22-021 | Silver Cloud Mine | 391.36 | 391.67 | 0.31 | 1.590 | 10.43 | 169.4 | | AgEq_g/t = Ag_g/t + Au_g/t*100; True thickness unknown; NSV = No significant values |
At Northwest Canyon, SBC22-020 cut bonanza grades, 52.62 g/t gold (1.53 opt) and 606 g/t silver (17.68 opt) over 1.5 metres, representing a new high-grade vein discovery. The high-grade interval is associated with a banded and stockwork quartz veins containing black sulphides from 307.5 to 309.1 metres (1,009 to 1,014 ft) down the drillhole. The 606 g/t silver is the highest-grade silver drill intercept on the Silver Cloud property to date.
SBC22-020 was completed to 464 metres (1,523 ft). The core hole targeted the projection of the NNW structure encountered in the Company's 2019 drilling (SBC19-002: 8.32 g/t gold over 1.52m), and Placer Dome's 2002 drillhole (SCP-15: 5.61 g/t gold over 12.2m). SBC22-020's collar location is a 366 metre step out, drillhole collar to drillhole collar, to the SSE along the interpreted structure; however, and the assay intercepts are separated by 425 metres.
At the Silver Cloud mine, SBC22-019 and SBC22-021 targeted an interpreted structural zone and tested 170 metres of strike. SBC22-019 encountered a zone of pyrite-cemented breccia from 357 to 360 metres down the hole. The zone was mineralized but below the 0.3 g/t gold cut off grade. An additional three zones of gold mineralization were encountered between 219 and 267 metres down the hole. These zones range from one to three metres in thickness and have gold values from 0.377 g/t to 0.578 g/t gold. The intervals have been submitted for metallic-screen analysis.
SBC22-021 was drilled 170 metres to the SSE of SBC22-019, and it encountered oxidized breccia and fault gouge with intermittent quartz veining from 165 to 174 metres (540 to 572 ft) down the hole. The alteration suggests the drillhole penetrated the intended NNW structure which is mineralized over a thick zone and returned assays yielding 20.6 metres returning 0.438 g/t gold. The intervals have also been submitted for metallic-screen analysis.
Additional work is being planned for Northwest Canyon to follow up on the new discovery. This area has limited drilling and shows potential for a large vein-hosted deposit similar to Midas. At the Silver Cloud mine, more exploration is warranted to understand the thick zones of alteration with lower-grade gold mineralization.
Figure 1: 2022 drillhole location map
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Figure 2: Cross Section between SCP-15, SBC19-002 and SBC22-020 looking northeast
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Table 2: Drillhole location information
| Hole ID | UTMNAD27 E | UTMNAD27 N | Elevation (m) | Total Depth (m) | Azimuth | Inclination | | SBC22-019 | 531554 | 4544421 | 1615.1 | 462.5 | 273 | 78 | | SBC22-020 | 530149 | 4544148 | 1631.0 | 520.0 | 272 | 74 | | SBC22-021 | 531648 | 4544259 | 1556.3 | 464.2 | 268 | 73 |
Quality Assurance/ Quality Control
All sampling is conducted under the supervision of the Company's project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The core samples are hauled from the project site to a secure and fenced facility in Battle Mountain, Nevada, where they are loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company's instructions.
The core and QA/QC samples are crushed and pulverized, then the pulverized material is digested and analyzed for Au using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split. Silver is determined using five-acid digestion and ICP analysis. Over limits for gold and silver are determined using a gravimetric finish. Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or certified reference material approximately every 15th to 20th sample. In addition, a random selection of pulps are sent to ALS Minerals in Reno, Nevada, for check assays.
Blackrock's exploration activities at the Silver Cloud, Tonopah North and Tonopah West projects are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.
About Blackrock Silver Corp.
Blackrock is a junior precious metals focused exploration company that is on a quest to make an economic discovery. Anchored by a seasoned Board, the Company is focused on its Nevada portfolio of properties consisting of low-sulphidation epithermal gold & silver projects located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.
For further information, please contact:
Andrew Pollard, President & CEO
Blackrock Silver Corp.
Phone: 604 817-6044
Email: andrew@blackrocksilver.com
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern the Company's strategic plans, timing and expectations for the Company's exploration and drilling programs, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors, the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
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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| To: LoneClone who wrote (168969) | 12/7/2022 3:23:56 PM | | From: LoneClone | | | | Colibri Provides Exploration Update at the Evelyn Gold Property
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Dieppe, New Brunswick--(Newsfile Corp. - December 6, 2022) - Colibri Resource Corporation (TSXV: CBI) (OTC Pink: CRUCF) ("Colibri" or the "Company") is pleased to report that the Company recently re-commenced Phase 2 exploration drilling at the Evelyn Gold Property having received its exploration permit from SEMERNAT (Mexican environmental authority). Company geologists have also recently submitted soil samples for a Soil Gas Hydrocarbon ("SGH") program. The soil sampling was designed to test for the southern extension of the Main Zone structure under an apron of relatively thick colluvium. Analyses and interpretation will be completed at Activation Laboratories Ltd. ("Actlabs") located in Ancaster, Ontario. The locations of the soil samples collected are indicated on Figure 1.
The Company intends to complete two drill programs. The first program will be following up on the Company's Phase 1 reverse circulation ("RC") drilling program completed in early 2022 and will include a planned 2,000 metres ("m") in 5 holes designed to test the results of the Induced Polarization ("IP") Survey completed in 2021. The primary target is a chargeability anomaly that underlies the Main Zone, and the program will include testing a chargeability and resistivity target west of the Main Zone. The locations of the holes planned to test the IP results are indicated in figure 1.
The second drill program is planned to explore under extensive alluvial cover north of the Main Zone and will comprise drilling a number of short, relatively closely spaced RC holes designed to penetrate the alluvium and sample the top of bedrock. The objective of this program is to locate the northern extension of the Main Zone and to test for the location of other potentially mineralized structures interpreted by the Company. The locations of the areas planned for drill testing bedrock covered by alluvium are indicated in figure 1.
Upon completion of the short hole program, the Company will complete a series of trenches across the "West Sahuaro" target. The West Sahuaro target is based on a discrete soil anomaly whose location and orientation is coincident with a strong resistivity gradient evident in the 2021 IP survey results.
Figure 1 - Main Zone Drill Intercepts on Apparent Chargeability at -100m
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MAIN ZONE EXPLORATION AND PLAN
The Main Zone mineralization occurs as a quartz vein that is discontinuously exposed over a strike length of approximately 120 m. The quartz vein pinches and swells along the strike length on surface reaching a maximum exposed thickness of approximately 1.5 m. Grab samples from surface exposures of the vein have returned assay values of 43.9 g/t Au and 40.1 g/t Au. During Phase 1 RC drilling at Evelyn, the Company completed a total of 872 m in 6 holes at the Main Zone. Four of the holes were directed at the Main Zone vein and two of the holes were drilled in the footwall of the Main Zone vein in a direction away from the Main Zone vein. Highlights of the Main Zone vein drilling include 12.19 g/t Au over an intersection length of 3 m which includes an assay of 30 g/t Au over 1 m in hole EVE21-027 and an intersection of 3.28 g/t Au over an intersection length of 2 m in hole EVE22-029. Hole EVE22-030 was drilled in the footwall of the Main Zone vein and intersected 87 m at an average grade of 0.127 g/t Au including 8 m at an average grade of 0.336 g/t Au. Planned to reach a target depth of 250 metres, Hole EVE22-030 was lost due to drilling conditions at a depth of 129 m. Hole EVE22-042 was drilled beside EVE22-030 as an attempt to extend the hole to the target depth of 250 m. The hole intersected multiple zones of mineralization including 0.165 g/t Au over an intersection length of 86 m which included an intersection of 0.551 g/t Au over 10 m. EVE22-042 did not reach target depth as it was also abandoned due to drilling conditions at 177 m. An assay of 0.374 g/t Au over an interval of 1 m was returned from a sample at 174 m depth: 4 m from the end of the hole. Complete Phase 1 drilling results from the Main Zone are contained in the table below.
| Hole ID | From | To | Length | Au gpt | Cutoff | | EVE21-026 | 3 | 7 | 4 | 0.257 | .1 g/t Au | | includes | 3 | 4 | 1 | 0.446 | .2 g/t Au | | EVE21-026 | 65 | 66 | 1 | 0.237 | .2 g/t Au | | EVE21-026 | 64 | 79 | 15 | 0.196 | .1 g/t Au | | includes | 72 | 77 | 5 | 0.412 | .2 g/t Au | | EVE21-027 | 12 | 13 | 1 | 0.322 | .2 g/t Au | | EVE21-027 | 32 | 46 | 14 | 2.818 | .1 g/t Au | | includes | 38 | 46 | 8 | 4.823 | .2 g/t Au | | includes | 41 | 44 | 3 | 12.19 | 3 g/t Au | | includes | 42 | 43 | 1 | 30 | 5 g/t Au | | EVE21-027 | 55 | 56 | 1 | 0.287 | .2 g/t Au | | EVE21-027 | 99 | 100 | 1 | 0.204 | .2 g/t Au | | EVE22-028 | 24 | 43 | 19 | 0.129 | .1 g/t Au | | includes | 37 | 43 | 6 | 0.182 | .2 g/t Au | | EVE22-028 | 55 | 57 | 2 | 0.115 | .1 g/t Au | | EVE22-028 | 73 | 76 | 3 | 0.240 | .1 g/t Au | | EVE22-028 | 83 | 84 | 1 | 0.293 | .2 g/t Au | | EVE22-028 | 117 | 118 | 1 | 0.295 | .2 g/t Au | | EVE22-029 | 36 | 41 | 5 | 1.393 | .2 g/t Au | | includes | 36 | 38 | 2 | 3.275 | .2 g/t Au | | EVE22-029 | 122 | 125 | 3 | 0.337 | .2 g/t Au | | EVE22-029 | 129 | 131 | 2 | 0.160 | .1 g/t Au | | EVE22-030 | 25 | 112 | 87 | 0.127 | .1 g/t Au | | includes | 24 | 49 | 25 | 0.201 | .1 g/t Au | | includes | 25 | 43 | 18 | 0.230 | .1 g/t Au | | includes | 28 | 36 | 8 | 0.336 | .2 g/t Au | | includes | 101 | 106 | 5 | 0.215 | .2 g/t Au | | EVE22-042 | 19 | 105 | 86 | 0.165 | .1 g/t Au | | includes | 19 | 41 | 22 | 0.316 | .1 g/t Au | | includes | 22 | 32 | 10 | 0.551 | .2 g/t Au | | includes | 60 | 68 | 8 | 0.184 | .1 g/t Au | | includes | 100 | 105 | 5 | 0.232 | .1 g/t Au | | EVE22-042 | 125 | 131 | 6 | 0.178 | .1 g/t Au | | EVE22-042 | 173 | 174 | 1 | 0.324 | .2 g/t Au | | Note: Reported lengths for all holes are intersection lengths. True widths are not known. |
Table 1 - Drill Highlights from Phase 1 Drilling at Main Zone Area
The Main Zone mineralization, including mineralization intersected in holes EVE22-030 and EVE22-042 directly overlies a discrete Induced Polarization ("IP") chargeability anomaly (Figures 1 and 2). The chargeability anomaly is coincident with an apparent resistivity anomaly and is most strongly developed at a depth greater than 200 m (Figure 2). The exploration model relates Main Zone mineralization, exposed on surface and intersected in Phase 1 drilling, to an altered rock body with elevated disseminated sulphide at depth which is controlled by the intersection of the northeast and northwest structures. Phase 2 drilling is planned in the near term to test this model to a depth of at least 500 metres. (Figure 2). In addition, 2 holes are planned to test a weaker IP anomaly on the flank of a resistive high west of the Main Zone.
Figure 2 - Main Zone Drill Holes Over Apparent Chargeability
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WEST EL SAHUARO TARGET EXPLORATION AND PLAN
El Sahuaro Zone is located in the northeastern part of the property and is characterized by north-northeast trending magnetic anomalies. Detailed structural mapping in the northeast part of the property indicates a dominant north-northwestern strike and easterly dip to foliation and veins. The structural orientations observed are consistent with north-northwest trending structures interpreted from magnetic intensity contrasts and an apparent dislocation and offset of the north-northeastern magnetic trend. The El Sahuaro area is underlain by Jurassic rhyolite and andesite and by Proterozoic (?) metasedimentary rocks. All holes drilled at El Sahuaro have intersected Au mineralization. Highlights of Phase 1 drilling at El Sahuaro include: (also see Figure 3 below)
EVE21-025 - 0.172 g/t Au over an intersection length of 22 m
EVE21-018 - 0.103 g/t Au over an intersection length of 25 m
EVE21-019 - 2.36 g/t Au over an intersection length of 15 m
EVE22-043 - 0.92 g/t Au over an intersection length of 3 m
EVE22-044 - 0.627 g/t Au over an intersection length 6 m
EVE22-046 - 1.943 g/t Au over an intersection length of 2 m and 0.51 g/t Au over an intersection length of 4 m
West of El Sahuaro zone, a sharp north-northwest trending gradient in apparent resistivity (Figure 3) is interpreted as a fault zone that separates dominantly rhyolite to the southwest with a mixed succession of rhyolite and andesite with Proterozoic metamorphic rocks to the northeast.
To further explore the interpretation of apparent resistivity, the Company completed in-fill soil sampling of the historical soil geochemistry survey which resulted in a coherent soil anomaly over an approximately 500 m length and 200 m width with a north-northwest trend: parallel to the resistivity gradient (Figure 3). Anomalous soil samples in the anomaly area are interpreted to be locally derived. The consistently elevated Au grades generated from this soil anomaly (> 100 ppb) with one sample returning 1.52 g/t Au is considered statistically very significant within the property wide dataset. It is noteworthy that the cutoff grades for several mines and deposits in the area are generally in the 0.2 g/t Au range.
The model being explored by the Company relates mineralization intersected in Phase 1 drilling at El Sahuaro, and the Au soil anomaly, to a major controlling structure indicated by the apparent resistivity gradient. Trenches currently being permitted will be excavated over the soil anomaly with the objective of advancing the target to the drill stage.
Figure 3 - Evelyn Assay Values on Apparent Resistivity
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ABOUT SGH
SGH is a deep penetrating geochemical exploration method that involves the analysis of surficial samples from over potential (buried) mineral or petroleum targets. The analysis involves the testing for 162 hydrocarbon compounds in the C5-C17 carbon series range applicable to a wide variety of sample types. Samples are collected in the target area in a systematic manner generally at sample stations spaced at 25 m along 100 m spaced lines. Actlabs has developed an in-depth understanding of the unique SGH signatures associated with different target metals. Using a forensic approach based on scientific research, orientation surveys over known (buried) mineralization, and the results of exploration projects, Actlabs has developed commodity target signatures, or templates, for identification of the expected analytical results exhibited by each class of SGH compounds.
EVELYN GEOLOGY AND EXPLORATION
The Evelyn Gold Project is an Orogenic-type gold target located in the Caborca Gold Belt of northwestern Sonora. The property is located approximately 25 kilometres ("km") east of La Herradura, Mexico's largest open pit gold mine, which produced 425,288 ounces of gold in 2020 at an average grade of 0.77 grams per tonnes ("g/t") Au and is also approximately 9 km northeast of the Noche Buena mine which produced 87,988 ounces Au at an average grade of 0.52 g/t Au in 2020. The setting and style of mineralization at Evelyn is similar to that reported from La Herradura and Noche Buena. Higher grade mineralization on the Evelyn property consists of quartz veins and veinlets, ranging from 2 - 3 centimeters up to 1.5 m hosted by fault and fracture zones with minor oxidized pyrite, iron oxide, copper bearing oxide and carbonate minerals, and locally minor to trace amounts of galena, chalcopyrite, and sphalerite. Alteration of the host rocks includes iron bearing carbonate minerals, quartz, sericite, and chlorite. Lower grade mineralization is associated with altered volcanic rocks containing minor amounts of oxidized sulfide. Mineralization is hosted dominantly by Jurassic volcanic rocks consisting of andesite and rhyolite.
The exploration model being developed and tested by the Company relates the mineralization consisting of higher-grade veins and veinlets hosted by altered and sulphide bearing lower grade metamorphic and volcanic rocks, to north-northeast trending stratigraphy and layer-parallel fault zones and southeast striking, moderately southwest dipping fault zones.
QUALIFIED PERSON
Jamie Lavigne, P. Geo and a Director for Colibri is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring and exploring prospective gold & silver properties in Mexico. The Company has six exploration projects of which five currently have exploration programs being executed 2021 and 2022. (1) The flagship Evelyn Gold Project is 100% owned and explored by Colibri, (2) the Pilar Gold & Silver Project (optioned to Tocvan Ventures - (CSE: TOC), (3) the El Mezquite Gold & Silver Project , (4) the Jackie Gold & Silver Project, and (5) the Diamante Gold & Silver Project. 3,4,and 5 are subject to earn-in agreements by Silver Spruce Resources - (TSXV: SSE).
For more information about all Company projects please visit: newsfilecorp.com.
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.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
For information contact: Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-4274, rongoguen@colibriresource.com |
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| To: LoneClone who wrote (168970) | 12/7/2022 3:25:32 PM | | From: LoneClone | | | | Amex Reports New Significant Drill Hole Intersections from the Team Gold Zone Including 6.75 g/t Au over 14.50 m and 1.08 g/t Au over 163.5 m at Perron
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Montreal, Quebec--(Newsfile Corp. - December 6, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce updated and upgraded results on the newly discovered Team Zone on the Perron project in the Abitibi region of Quebec. Today's results include the pending fire assays as well as previously released high-grade intervals from the metallic sieve assaying technique. The Team Zone delivers a combination of both high grade gold over narrow intervals as well as wide zones of disseminated gold. The near-surface Team Zone occurs ~600 m to the northeast of the High Grade Zone (HGZ) and ~300 m northeast of the E2 Gold Zone (Figure 1). To date, Amex has intercepted visible gold mineralization in 17 of 23 holes targeting the Team Zone over an area of approximately 300 m by 150 m from surface to a depth of ~380 m. Additional results are pending from the ongoing drill program at this important target.
Today's highlight results include:
PE-22-548: 6.75 g/t Au over 14.50 m at a vertical depth of ~180 m
Including: 26.34 g/t Au over 1.50 m
And including: 32.60 g/t Au over 1.50 m
And: 1.74 g/t Au over 17.0 m at a vertical depth of ~250 m
PE-22-554: 1.08 g/t Au over 163.50 m beginning at a vertical depth of ~110 m
Including: 4.55 g/t Au over 3.50 m at a vertical depth of ~110 m
And including: 11.17 g/t Au over 3.0 m
And including: 2.71 g/t Au over 37.0 m
Which includes: 7.90 g/t Au over 8.50 m
PE-22-545: 2.09 g/t Au over 7.0 m at a vertical depth of ~160 m
And: 1.07 g/t Au over 11.80 m
And: 22.10 g/t Au over 0.50 m
And: 68.66 g/t Au over 1.40 m
PE-22-546: 1.69 g/t Au over 12.75 m at a vertical depth of ~95 m
PE-22-552: 1.56 g/t Au over 15.0 m at a vertical depth of ~165m
PE-22-555: 1.70 g/t Au over 6.0 m at a vertical depth of ~25m
And: 1.95 g/t Au over 8.70 m at a vertical depth of ~180m
PE-22-556: 19.04 g/t Au over 2.25 m at a vertical depth of ~20 m
PE-22-560: 1.15 g/t Au over 11.10 m at a vertical depth of ~100 m
PE-22-561: 1.78 g/t Au over 24.0 m at a vertical depth of ~80 m.
On September 27, 2022, Amex announced partial results from metallic sieve assays for the new Team Zone discovery. Today's results represent the entirety of the sampled intervals of the reported holes. The new results exceed the Company's early expectations as many areas that looked weakly mineralized at best have returned appreciable disseminated gold. This results in a unique system which provides flexibility for future mining, with respect to underground or open pit mining. See Table 1 for a list of the today's drill results, Table 2 for drill hole coordinates, Figure 1 for a map of the Perron project geology showing the location of the Team Zone, Figure 2 for a map showing the assay results as well as the distribution of visible gold identified to date throughout the Team Zone, and Figure 3 for photos of visible gold in several holes in the Team Zone.
Jacques Trottier, Executive Chairman of Amex, commented "With the receipt of the balance of the fire assays on the Team Zone, we are now starting to understand the geometry of the system. The volume of rock that has been affected by this mineralizing event, consisting of stockwork-type and tension-type veins and veinlets along with associated alteration, is quite extensive and I believe it has significant potential to grow both along strike and to depth. The fact that we have seen multiple occurrences of visible gold in the majority of holes targeting this zone is also very exciting. This is also the most significant discovery made to date along the northern limb of the Beaupre rhyolite. The Team Zone has become a priority for Amex and we will begin aggressively drilling it through the winter season."
The Team Zone is situated along the northern limb of the Beaupre rhyolite block, which is the host to the majority of gold identified to date on the Perron project. Gold mineralization is associated with quartz-carbonate veins & tension veinlets which are at times folded and/or brecciated. In addition to the vein-hosted mineralization, there is a component of disseminated pyrite-associated gold (as evident by today's results). The gold-bearing quartz veins are found in both rhyolite and mafic intrusive bodies, unlike many of the other gold zones at Perron which are lithologically controlled. The mineral assemblage however, comprising pyrite-pyrrhotite +/- chalcopyrite +/- sphalerite +/- molybdenite +/- visible gold, is similar to the Eastern Gold Zone mineralization. As shown in Figure 2, Amex has drilled the Team Zone at multiple orientations to identify the geometry of the system. The geological team has been utilizing oriented drill core to determine the orientation of the veins and overall mineralizing system. As additional assay results are received and additional drill holes are completed, the 3-dimensional shape and size potential of the Team Zone will be revealed.
Table 1: Assay results from the Team Zone at Perron. Note these results are completed. Also note that true width is currently unknown and thus core lengths are shown.
| Hole ID | From (m) | To (m) | Core Length (m) | Au g/t | Vertical depth (m) | | PE-22-537W1 | 208.50 | 209.50 | 1.00 | 18.69 | ~160 to 365 | | And | 449.60 | 452.00 | 2.40 | 4.60 | | And | 481.50 | 483.00 | 1.50 | 1.17 | | PE-22-545* | 177.50 | 184.50 | 7.00 | 2.09 | ~150 to 295 | | And | 213.50 | 225.30 | 11.80 | 1.07 | | And | 249.00 | 249.50 | 0.50 | 22.10 | | And | 365.60 | 367.00 | 1.40 | 68.66 | | PE-22-546* | 107.50 | 115.50 | 8.00 | 0.56 | ~80 to 180 | | And | 127.25 | 140.00 | 12.75 | 1.69 | | And | 198.30 | 202.00 | 3.70 | 1.35 | | And | 230.50 | 238.00 | 7.50 | 0.55 | | PE-22-547* | 63.50 | 72.00 | 8.50 | 0.67 | ~50 to 260 | | And | 109.00 | 122.50 | 13.50 | 0.57 | | And | 160.50 | 173.50 | 13.00 | 0.49 | | And | 329.60 | 330.10 | 0.50 | 31.97 | | PE-22-548* | 214.00 | 228.50 | 14.50 | 6.75 | ~180 to 250 | | Including | 221.00 | 222.50 | 1.50 | 26.34 | | Including | 224.00 | 225.50 | 1.50 | 32.60 | | And | 276.00 | 293.00 | 17.00 | 1.74 | | PE-22-549* | 176.50 | 178.00 | 1.50 | 1.14 | ~130 to 210 | | And | 212.50 | 217.10 | 4.60 | 1.61 | | And | 236.50 | 243.15 | 6.65 | 0.34 | | And | 287.50 | 288.50 | 1.00 | 1.49 | | PE-22-552 | 101.00 | 102.50 | 1.50 | 5.34 | ~65 to 165 | | And | 241.00 | 256.00 | 15.00 | 1.56 | | Including | 254.50 | 256.00 | 1.50 | 12.69 | | PE-22-553 | 132.00 | 133.50 | 1.50 | 2.43 | ~90 | | PE-22-554* | 149.50 | 313.00 | 163.50 | 1.08 | ~110 to 230 | | Including | 149.50 | 153.00 | 3.50 | 4.55 | | And including | 170.40 | 173.50 | 3.10 | 1.02 | | And including | 203.20 | 207.00 | 3.80 | 2.10 | | And including | 236.00 | 239.00 | 3.00 | 11.17 | | And including | 270.00 | 307.00 | 37.00 | 2.71 | | Which includes | 270.00 | 270.80 | 0.80 | 30.86 | | And includes | 298.50 | 307.00 | 8.50 | 7.90 | | PE-22-555* | 40.00 | 46.00 | 6.00 | 1.70 | ~25 to 180 | | And | 73.90 | 75.90 | 2.00 | 2.62 | | And | 91.40 | 94.90 | 3.50 | 1.99 | | And | 218.50 | 227.20 | 8.70 | 1.95 | | PE-22-556* | 26.25 | 28.50 | 2.25 | 19.04 | ~20 to 270 | | And | 162.50 | 163.30 | 0.80 | 1.38 | | And | 201.00 | 202.00 | 1.00 | 1.35 | | And | 247.00 | 275.50 | 28.50 | 0.55 | | And | 308.50 | 314.00 | 5.50 | 1.09 | | And | 334.80 | 335.90 | 1.10 | 1.60 | | PE-22-557 | 29.50 | 35.00 | 5.50 | 0.77 | ~15 to 235 | | And | 86.00 | 90.00 | 4.00 | 0.99 | | And | 256.50 | 286.50 | 30.00 | 0.50 | | And | 330.00 | 333.00 | 3.00 | 1.35 | | PE-22-558 | 49.00 | 50.00 | 1.00 | 22.97 | ~36 to 200 | | And | 199.00 | 200.50 | 1.50 | 2.14 | | And | 277.50 | 280.00 | 2.50 | 1.64 | | PE-22-559 | 16.70 | 18.00 | 1.30 | 1.12 | ~10 to 295 | | And | 48.00 | 49.50 | 1.50 | 1.63 | | And | 85.00 | 86.50 | 1.50 | 1.17 | | And | 203.40 | 208.00 | 4.60 | 0.88 | | And | 230.70 | 231.40 | 0.70 | 2.95 | | And | 400.90 | 401.50 | 0.60 | 1.51 | | PE-22-560 | 36.50 | 37.00 | 0.50 | 1.34 | ~25 to 220 | | And | 146.50 | 157.60 | 11.10 | 1.15 | | Including | 146.50 | 148.00 | 1.50 | 7.20 | | And | 221.50 | 223.00 | 1.50 | 1.11 | | And | 316.00 | 316.60 | 0.60 | 7.20 | | PE-22-561* | 44.80 | 45.50 | 0.70 | 2.74 | ~35 to 200 | | And | 116.00 | 140.00 | 24.00 | 1.78 | | Including | 129.50 | 140.00 | 10.50 | 3.31 | | And | 163.90 | 165.00 | 1.10 | 2.13 | | And | 248.00 | 252.50 | 4.50 | 0.57 |
*Hole updated since the last press release
Table 2: Team Zone drill hole coordinates
| Hole ID | Azimuth (°) | Dip (°) | Length (m) | Easting (m) | Northing (m) | Elevation (m) | | PE-22-537W1 | 167 | -54 | 628 | 615274 | 5430989 | 196 | | PE-22-545 | 162 | -55 | 570 | 615234 | 5431037 | 351 | | PE-22-546 | 165 | -50 | 508 | 615284 | 5431032 | 351 | | PE-22-547 | 179 | -52 | 670 | 615299 | 5430995 | 353 | | PE-22-548 | 165 | -58 | 625 | 615333 | 5431034 | 351 | | PE-22-549 | 165 | -52 | 511 | 615385 | 5431037 | 355 | | PE-22-552 | 170 | -45 | 418 | 615385 | 5431036 | 355 | | PE-22-553 | 163 | -45 | 481 | 615177 | 5431035 | 351 | | PE-22-554 | 120 | -50 | 331 | 615177 | 5431038 | 351 | | PE-22-555 | 120 | -55 | 352 | 615160 | 5430979 | 357 | | PE-22-556 | 118 | -57 | 364 | 615176 | 5431039 | 351 | | PE-22-557 | 118 | -48 | 336 | 615160 | 5430978 | 357 | | PE-22-558 | 118 | -45 | 301 | 615238 | 5431038 | 351 | | PE-22-559 | 120 | -48 | 423 | 615125 | 5431035 | 351 | | PE-22-560 | 168 | -45 | 328 | 615284 | 5431031 | 351 | | PE-22-561 | 163 | -55 | 355 | 615285 | 5431033 | 351 |
Figure 1. Geological map of the Perron Project, with the location of existing zones and the newly discovered Team Zone.
To view an enhanced version of Figure 1, please visit:
images.newsfilecorp.com
Figure 2. Geological compilation map of the Team Zone area. Shown are all of the areas with identified visible gold (VG) and significant assays, across a widespread area of approximately 300 m x 150 m.
To view an enhanced version of Figure 2, please visit:
images.newsfilecorp.com
Figure 3. Examples of visible gold in three holes of the Team Zone. PE-22-556 showing visible gold and the sheeted vein / stockwork type system. PE-22-558 showing a dispersion of visible gold within a quartz vein. PE-22-554 showing visible gold grains in a quartz vein associated with pyrite and pyrrhotite.
To view an enhanced version of Figure 3, please visit:
images.newsfilecorp.com
Qualified Persons
Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin.
The quality assurance and quality control protocols include insertion of blank or standard samples every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert or ALS Canada Ltd. during the analytical process.
For all analyses targeting gold mineralization, gold values are estimated by fire assay with finish by atomic absorption. Values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold.
For analyses targeting VMS mineralization, zinc, copper and silver values are estimated by four acid digestion multi-elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61 at ALS Canada Ltd. Zinc values over 1%, copper values over 1%, and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Gold values are estimated by fire assay with atomic absorption finish.
About Amex
Amex Exploration Inc. has made significant gold discoveries on its 100% owned high-grade Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. The project is well-serviced by existing infrastructure, on a year-round road, 10 minutes from an airport and just outside the town of Normétal (~8 km). In addition, the project is in close proximity to a number of major gold producers' milling operations. The project hosts both disseminated and high-grade vein-hosted gold style mineralization. Since January 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich VMS zones.
For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209
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.
Forward-looking statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law. |
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| To: LoneClone who wrote (168971) | 12/7/2022 3:26:49 PM | | From: LoneClone | | | | Galway Metals Suspends Drilling; Outlines Future High Priority Targets
accesswire.com
Wednesday, December 7, 2022 7:00 AM
Galway Metals Inc.
galwaymetalsinc.com
TORONTO, ON / ACCESSWIRE / December 7, 2022 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") advises that, given prevailingly weak market conditions for exploration companies, it is temporarily suspending drilling activities at its flagship Clarence Stream gold project pending improved market and financing conditions. Management is taking this pro-active step to conserve capital while it reassesses findings in the Clarence Stream Mineral Resource Update reported on April 25, 2022, and it reviews information obtained from drill results. As of the end of Q3/2022, Galway had a healthy balance sheet with $7.7 million in cash.
Robert Hinchcliffe, President and CEO of Galway Metals, states: "Galway's exploration efforts led directly to the discoveries of the George Murphy, Richard, Adrian and Stewart Zones, and significantly expanded the South, North and Jubilee Zones, as well as the Oak Bay area. Clarence Steam clearly is a new high-grade gold district in Eastern Canada. The hiatus gives us an excellent opportunity to gain a better understanding of the project through a thorough review of all drill data and from findings in the resource update. When markets improve, we will be in an excellent position to make new discoveries from the numerous, large and high-potential targets that have not yet been drill tested, and to expand existing deposits as all Zones at Clarence Stream remain open for expansion in every direction."
With the exception of a brief period during the Covid pandemic, Galway has been continuously drilling at Clarence Stream since drilling commenced in October 2016. Galway has drilled 182,850 metres of the 244,553-metre total. This drilling has resulted in the discovery and expansion of many high-grade deposits. In 2022, Galway completed 24,468 metres of drilling at Clarence Stream, with a good portion of the results pending. Significant drilling has also occurred at Estrades where Galway has drilled over 60,000 metres of the 230,000-metre total. Galway has also temporarily suspended drilling at Estrades after the completion of approximately 12,000 metres in 2022. Most assays from the 2022 Estrades drill program are also pending. Given the potential to discover source vents below the high-grade resource, and/or to make new discoveries elsewhere on the property, Galway remains committed to advancing Estrades as well.
Clarence Stream Has Many High Priority Targets
Some of the important targets when drilling resumes at Clarence Stream will be:
- The Triangle, which is 180% larger than the SW Deposit and adjoins it and includes the Stewart Zone ( Figure 1)
- The biggest and best soil anomaly, which may turn out to be the centre of gravity of mineralization on the property
- On strike with the SW Deposit - 4km+ of very high grade soils
- Parallel to, and south of the SW Deposit - a 12km+ very high grade long soil anomaly
- A very strong 9 km+ linear magnetic low NW of the SW Deposit (These 5 targets are numbered 1-5 on Figure 2)
1. The Triangle Area, located within the roughly 1km zone immediately north of the SW Deposit and between the new Stewart Zone (to the north), the new Richard North Veins (on the western side), and the Adrian Zone (on the eastern side), represents a large target relative to the entire size of the SW Deposit resource area. The Triangle is 180% larger than the SW Deposit and adjoins it.
Richard Zone mineralization was recently extended 340m north at the east end of Richard with previously-released hole BL-213. This hole intersected 1.1 g/t Au over 8.35m ( March 30, 2022). This was followed up with results that extended mineralization 236m along strike, with intersects such as 2.6 g/t Au over 9.2m (incl. 13.3 g/t Au over 1.2m) and 1.9 g/t Au over 9.0m (incl. 20.4 g/t Au over 0.5m) in holes BL-231 and BL-225, respectively ( September 12, 2022). These gold-bearing quartz veins could be the western extension of the Adrian Zone, located 970m to the NE. If this is correct, it would parallel the George Murphy Zone located immediately to the south.The Adrian Zone has consistently been expanding in the NE direction, and could expand toward this Richard North discovery to the SW as well.The Stewart Zone, where intersections of 4.8 g/t Au over 3.1m, 4.1 g/t Au over 10.25m (one of 5 veins) were followed 257m NW with 8.6 g/t Au over 2.0m (incl. 19.6 g/t Au over 0.5m) (and 1.0 km NW of the Resource), and 204m SE with 18.9 g/t Au over 1.0m, and 246m SE with 13.0 g/t Au over 0.5m(one of 5 veins).The Richard Zone and Richard North Veins may extend an additional 900m north along the eastern flank of an intrusion, paralleling the intrusion to the Stewart Zone. This is the same intrusion the Jubilee and Richard Zones flank, and then the intrusion turns north toward Stewart. Gold-in-soil anomalies exist along this trend.
The description above represents the potential to link these three zones: Richard to Adrian, Richard to Stewart, and Stewart to Adrian. This effectively makes a large triangle with potential to host significant gold mineralization - all outside the current resource areas but in close proximity to them. Gold mineralization appears to dip gently east from Stewart to Adrian, thus providing potential to fill this triangle. The main structure in the area, the Sawyer Brook Fault, which was the main conduit for gold-bearing fluids, is thought to run through the middle of this triangle.
2. The biggest and best soil anomaly is located within and on the contacts of a multi-phase gabbro complex that likely is the source of gabbro dykes that host mineralization at the South Zone and at Oak Bay (19 km apart) with the gabbro complex in between; soils run as high as 4980, 3210, and 3120 ppb - the 3 highest on the property, plus with the third highest till anomaly on the entire property (86 ppb).
3. On strike with the SW Deposit is a 4km+ trend of very high grade soils (higher than those that led to the discoveries at the SW Deposit) that is located along a very strong linear magnetic low. All the known zones at Clarence Stream are located along magnetic lows, and they are thought to represent structural conduits for gold-bearing fluids.
4. Parallel to, and south of the SW Zone is a 12km+ long soil anomaly that hosts 12 soils that returned between 100 and 1030 ppb Au. This target is located along a very strong linear magnetic low, with 7 anomalous boulders that range up to 16.3 g/t Au and 7.5 g/t Au with gabbro as host - similar to the South Zone, plus with the second highest till anomaly on the entire property (95 ppb).
5. A very strong 9 km+ linear magnetic low, with 4 strong till anomalies, a 1 km long soil anomaly located parallel to and NW of the SW Deposit.
Clarence Stream Hosts a Large, High-Grade Gold Resource
Galway released an updated Mineral Resource for Clarence Stream (the "Resource") in an April 25, 2022 press release and Tables 1 and 2 below. This represented a more than doubling and quadrupling, respectively, of Measured and Indicated, and Inferred gold resources at Clarence Stream, consisting of the following resource estimates:
- Indicated open pit resources of 886,000 ounces at 2.27 g/t Au, plus
- Inferred open pit resources 731,000 ounces at 1.93 g/t Au, plus
- Indicated underground resources of 36,000 ounces at 4.1 g/t Au, plus
- Inferred underground resources of 603,000 ounces at 4.5 g/t Au
Table 1: Updated Mineral Resource Statement, Clarence Stream Deposits, New Brunswick, Canada, by SLR Consulting (Canada) Ltd., March 31, 2022
|
|
| Tonnes | Grade | Resource | | Mine Type | Deposit | Category | (000) | g/t Au | ppm Sb | oz Au | tonnes Sb |
| North | Indicated | 1,171 | 2.28 | 4,782 | 86,000 | 5,601 |
| Inferred | 1,731 | 2.51 | 491 | 140,000 | 850 |
| South | Indicated | 3,190 | 2.89 | 1,205 | 296,000 | 3,844 | | Open Pits | Inferred | 594 | 3.45 | 376 | 66,000 | 223 | | Southwest | Indicated | 7,761 | 2.02 | - | 504,000 | - |
| Inferred | 9,471 | 1.73 | - | 525,000 | - |
| Sub Totals | Indicated | 12,123 | 2.27 | - | 886,000 | 9,445 |
| Inferred | 11,796 | 1.93 | - | 731,000 | 1,073 |
| South | Indicated | 274 | 4.10 | 587 | 36,000 | 161 |
| Inferred | 1,917 | 4.21 | 559 | 260,000 | 1,072 | | Underground | Southwest | Inferred | 2,250 | 4.75 | - | 343,000 | - |
| Sub Totals | Indicated | 274 | 4.10 | 587 | 36,000 | 161 |
| Inferred | 4,168 | 4.50 | - | 603,000 | 1,072 | | Open Pits & | Totals | Indicated | 12,396 | 2.31 | - | 922,000 | 9,605 | | Underground | Inferred | 15,963 | 2.60 | - | 1,334,000 | 2,145 |
Notes for the Clarence Stream Resource
- CIM (2014) definitions were followed for Mineral Resources.
- Mineral Resources are reported at cut-off grades of 0.38 g/t Au and 2.00 g/t Au for open pit and underground, respectively.
- Mineral Resources are estimated using long-term gold price of US$1,650/oz, a long-term antimony price of US$10,000/t and a US$/C$ exchange rate of 1.33.
- A minimum mining width of 1.5m was used.
- Bulk density is 2.83 t/m3 for North Zone mineralization, 2.90 t/m3 for South Zone mineralization, and 2.73 t/m3 for SW Deposit mineralization.
- There are no Mineral Reserves at Clarence Stream.
- Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
- Open pit Mineral Resources are reported within conceptual open pits.
- Underground Mineral Resources are reported within three-dimensional shapes outlining volumes of continuous blocks which satisfy the cut-off grade and minimum width criteria.
- Numbers may not add up due to rounding.
Table 2: Clarence Stream's South Zone, North Zone and SW Deposit Resources
|
| Tonnes | Grade | Resource | | Deposit | Category | (000) | g/t Au | ppm Sb | oz Au | tonnes Sb | | South | Indicated | 3,464 | 2.99 | 1,156 | 332,000 | 4,005 | | Inferred | 2,511 | 4.03 | 516 | 325,000 | 1,295 | | North | Indicated | 1,171 | 2.28 | 4,782 | 86,000 | 5,601 | | Inferred | 1,731 | 2.51 | 491 | 140,000 | 850 | | SW Deposit | Indicated | 7,761 | 2.02 | - | 504,000 | - | | Inferred | 11,721 | 2.31 | - | 868,000 | - |
For complete details of the resource update, refer to: "Technical Report on the Clarence Stream Project, New Brunswick, Canada" with an effective date of March 31, 2022, prepared in accordance with NI 43-101 regulations. This report is available on the Company's website at www.galwaymetalsinc.com and on its SEDAR profile at www.sedar.com.
New Brunswick Junior Mining Assistance Program
Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance Program, which partially funded drilling of the SW Deposit
Clarence Stream Geology and Mineralization
Clarence Stream deposits can be characterized as intrusion-related, quartz-vein hosted gold deposits. They contain elevated levels of bismuth and arsenopyrite in multiple quartz veins, with significant antimony in the South and North Zones and tungsten in the vicinity. The Zones contain multiple zones of quartz veining with sulfides and sericite alteration. In general, mineralization at Clarence Stream consists of 10-70% quartz stockworks and veins with 1-5% fine pyrite plus pyrrhotite plus arsenopyrite in sericite altered sediments. The South and North Zones also contain stibnite. Locally there is up to 10% sphalerite and semi-massive galena veinlets. The 3.1 km trend that hosts the SW Deposit is associated with a mineralized mafic intrusive locally - similar to the South Zone. A more complete description of Clarence Stream's geology and mineralization can be found at www.galwaymetalsinc.com.
Review by Qualified Person, Quality Control and Reports - Clarence Stream
The Mineral Resource estimates for the North and South Zones were prepared by Mr. Reno Pressacco, P.Geo, SLR Principal Geologist. The Mineral Resource estimate for the Southwest Deposit was prepared under the supervision of Ms. Valerie Wilson, M.Sc., P.Geo., SLR Managing Principal Geologist. Mr. Pressacco and Ms. Wilson are Independent Qualified Persons as defined by NI 43-101 and have read and approved the scientific and technical content of this news release as it relates to the updated Mineral Resource estimates. Michael Sutton, P.Geo., Director and VP of Exploration for Galway Metals, is the Qualified Person who supervised the preparation of the scientific and technical disclosure of the Clarence Stream portion of this news release on behalf of Galway Metals Inc. All core, chip/boulder samples, and soil samples are assayed by Activation Laboratories, located at 41 Bittern Street, Ancaster, Ontario, Canada, Agat Laboratories, located at 5623 McAdam Road, Mississauga Ontario, Canada L4Z 1N9 and 35 General Aviation Road, Timmins, ON P4P 7C3, and/or Swastika Laboratories situated in Swastika, ON. All four labs have ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility. All samples are assayed for gold by Fire Assay, with gravimetric finish, and other elements assayed using ICP. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at one per 20 samples. Approximately five percent (5%) of the pulps and rejects are sent for check assaying at a second lab with the results averaged and intersections updated when received. Core recovery in the mineralized zones has averaged 99%.
Review by Qualified Person, Quality Control and Reports - Estrades
In compliance with National Instrument 43-101, Mr. Kamil Khobzi, P.Geo., is the Qualified Person responsible for the accuracy of the Estrades portion of this news release. Mr. Reno Pressacco, P. Geo., is the Qualified Person responsible for preparation and disclosure of the Estrades Mineral Resource estimate, and is independent of Galway. The drill core is sawn in half with one half of the core sample shipped to Swastika Laboratories situated in Swastika, ON, which has accreditation of ISO/IEC 17025. The other half of the core is retained for future assay verification. Other QA/QC measures includes the insertion of certified reference standards (gold and polymetallics) and blanks into the sample stream, and the regular re-assaying of pulps and rejects at alternate certified labs. Gold analysis is conducted by fire assay using atomic absorption or gravimetric finish for samples greater than 10 g/t gold. Other Metals (Ag, Cu, Pb, Zn, Co, As) have full acid digestion and analyzed by AAS; with over limits (5000 ppm) analyzed by AAS using method dilutions, and the Silver (Ag) over limits (200 ppm) analyzed by fire assay (FA) & gravimetric finish. The laboratory re-assays at least 10% of all samples and additional checks may be run on anomalous values.
About the Company
Galway Metals is focused on creating significant per share value through the exploration and sustainable development of its two 100%-owned projects in Canada: Clarence Stream, a new high-grade gold district in SW New Brunswick, and Estrades, the former-producing, high-grade, gold-rich polymetallic VMS mine in the northern Abitibi of western Quebec. Galway's activities will be conducted while respecting the environment and communities in which it operates. Galway is well capitalized. The Company began trading on January 4, 2013, after its successful spinout to existing shareholders from Galway Resources following the completion of the US$340 million sale of that company. With substantially the same management team and Board of Directors, Galway Metals is keenly intent on creating similar value as it had with Galway Resources.
Should you have any questions and for further information, please contact (toll free):
Galway Metals Inc.
Robert Hinchcliffe
President & Chief Executive Officer
1-800-771-0680
Website: www.galwaymetalsinc.com
Email: info@galwaymetalsinc.com
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CAUTIONARY STATEMENT: 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 of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This news release contains forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements made herein with respect to, among other things, the Company's objectives, goals or future plans, potential corporate and/or property acquisitions, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, exploration results being less favourable than anticipated, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, risks associated with the defence of legal proceedings and other risks involved in the mineral exploration and development industry, as well as those risks set out in the Company's public disclosure documents filed on SEDAR. Although the Company believes that management's assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the Company will be able to identify and execute on opportunities to acquire mineral properties, exploration results will be consistent with management's expectations, financing will be available to the Company on favourable terms when required, commodity prices and foreign exchange rates will remain relatively stable, and the Company will be successful in the outcome of legal proceedings, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
SOURCE: Galway Metals Inc. |
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| To: LoneClone who wrote (168972) | 12/7/2022 3:28:23 PM | | From: LoneClone | | | | Lomiko Announces Further Results From the Exploration Drill Program at La Loutre Graphite Property in Québec, Drills up to 6.00% Cg Over 45.0m Along Southwestern Margin of Battery Zone
ca.finance.yahoo.com
Tue, December 6, 2022 at 5:00 a.m.·12 min read
MONTREAL, December 06, 2022--( BUSINESS WIRE)--Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") is pleased to announce the seventh round of analytical results from the infill and extension exploration drill program at its La Loutre Graphite property, located approximately 180 kilometres northwest of Montréal in the Laurentian region of Québec. The La Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory.
This press release features multimedia. View the full release here: businesswire.com
Figure 1 : Battery Zone Drill Hole Locations (Graphic: Business Wire)
Belinda Labatte, CEO and Director stated: "We are pleased to see significant intervals encountered in the second batch of results from the Battery Zone, including 10 holes (LL-22-60 to 69) in the south end of the Battery Zone. The assay results further validate the continuity and quality of the mineralization. The best interval of 6.00% Cg over 45.0m from 55.0 to 100.0m is in hole LL-22-062 including 7.41% Cg over 33.0m from 65.5 to 98.5m. We look forward to receiving the results from the remaining 10 holes in the Battery Zone."
Highlights
Assay results from the second 10 of 26 holes drilled at Battery Zone:
Consistent, near surface graphite mineralization along the southwest margin of the Battery Zone
Strong graphite values and significant widths in all 10 drill holes
Best interval of 6.00% Cg over 45.0m from 55.0 to 100.0m in hole LL-22-062 including 7.41% Cg over 33.0m from 65.5 to 98.5m
Second best interval of 5.62% Cg over 27.0 from 31.5 to 58.5 in hole LL-22-060 including 6.58% Cg over 21.0m from 36.0 to 57.0m
The drilling was supervised by Québec-based, independent geological consultant Breakaway Exploration Management Inc. and was operated under ECOLOGO requirements and compliance protocols, as Lomiko is ECOLOGO certified. Please see the press release issued on March 23, 2022 for more details about Lomiko’s ECOLOGO certification.
The drill program at La Loutre was initiated on May 15, 2022, with the goal to further define the deposit, provide the data needed to increase confidence in the mineral resource and build on the results of the positive Preliminary Economic Assessment ("PEA") for the La Loutre project as announced in the Company’s July 29, 2021, press release. Lomiko has retained InnovExplo Inc, a Quebec-based independent consulting firm specializing in geology, resource estimation, mining engineering and sustainable development, to prepare an updated NI 43-101 compliant resource estimate for the La Loutre project following the completion of the 2022 drill program.
The assay results reported in this press release are for 10 holes drilled along the southwest margin of the Battery Zone. These holes were drilled to confirm results of previous drilling and provide better detail in this part of the Battery deposit. Please refer to Table 1 for the weighted averaged graphitic carbon-bearing drill intersections (not true thickness) and Table 2 and Figure 1 for the collar locations referred to in this press release.
Significant intervals of graphite mineralization were intersected in all 10 holes. The best intersection was 6.00 per cent graphitic carbon ("% Cg") over 45.0 metres ("m") from 55.0 to 100.0m in hole LL-22-062 including 7.41% Cg over 33.0m from 65.5 to 98.5m. These drill results generally show that the graphite intervals along the western margin, although consistent, are narrower and contain less graphite relative to the center of the Battery zone located further to the northeast, which was expected based on the previous drilling.
Generally, it was noted that the graphite mineralization intersected in the Battery zone is visually more coarse-grained than the graphite mineralization intersected at the recently drilled EV Zone.
Table 1: Weight averaged graphitic carbon-bearing drill intersections (not true thickness)
|
|
|
|
|
|
|
|
|
|
|
| Hole
|
| From m
|
| To m
|
| Int. m
|
| % Cg
|
| Notes
| LL-22-060
|
| 31.5
|
| 58.5
|
| 27.0
|
| 5.62
|
| Sampling complete
| Including
|
| 36.0
|
| 57.0
|
| 21.0
|
| 6.58
|
|
|
|
| 89.0
|
| 108.5
|
| 19.5
|
| 3.14
|
| Sampling complete
| Including
|
| 96.5
|
| 105.5
|
| 9.0
|
| 5.80
|
|
|
|
|
|
|
|
|
|
|
|
|
| LL-22-061
|
| 35.0
|
| 77.0
|
| 42.0
|
| 2.75
|
| Sampling complete
| Including
|
| 56.0
|
| 75.5
|
| 19.5
|
| 5.41
|
|
| LL-22-062
|
| 30.5
|
| 33.5
|
| 3.0
|
| 5.16
|
| Sampling complete
|
|
| 55.0
|
| 100.0
|
| 45.0
|
| 6.00
|
| Sampling complete
| Including
|
| 65.5
|
| 98.5
|
| 33.0
|
| 7.41
|
|
| LL-22-063
|
| 9.0
|
| 16.5
|
| 7.5
|
| 2.39
|
| Sampling complete
|
|
| 59.4
|
| 65.4
|
| 6.0
|
| 1.77
|
| Sampling complete
|
|
| 75.0
|
| 105.0
|
| 30.0
|
| 3.37
|
| Sampling complete
| LL-22-064
|
| 104.5
|
| 115.0
|
| 10.5
|
| 4.08
|
| Open above 104.5m; additional sampling underway
| LL-22-065
|
| 67.0
|
| 91.0
|
| 24.0
|
| 3.73
|
| Sampling complete
| Including
|
| 67.0
|
| 82.0
|
| 15.0
|
| 5.82
|
|
| LL-22-066
|
| 16.0
|
| 20.5
|
| 4.5
|
| 4.58
|
| Open above 16.0m; additional sampling underway
|
|
| 102.5
|
| 108.5
|
| 6.0
|
| 5.18
|
| Open above 102.5m & below 108.5m; additional sampling underway
| LL-22-067
|
| 11.0
|
| 15.5
|
| 4.5
|
| 4.68
|
| Open above 11.5m; additional sampling underway
|
|
| 58.0
|
| 115.0
|
| 57.0
|
| 2.63
|
| Sampling complete
| Including
|
| 59.5
|
| 70.0
|
| 10.5
|
| 5.88
|
|
| Including
|
| 88.0
|
| 101.5
|
| 13.5
|
| 5.58
|
|
| LL-22-068
|
| 2.5
|
| 15.2
|
| 12.7
|
| 1.30
|
| Sampling complete
|
|
| 94.0
|
| 103.0
|
| 9.0
|
| 7.87
|
| Sampling complete
| LL-22-069
|
| 45.7
|
| 57.7
|
| 12.0
|
| 4.75
|
| Sampling complete
|
|
| 103.0
|
| 125.9
|
| 22.9
|
| 3.61
|
| Sampling complete
| Including
|
| 106.0
|
| 117.3
|
| 11.3
|
| 6.94
|
|
|
Table 2: Drill Hole Collar Locations (UTM NAD 83, Zone 18)
|
| Hole
|
| UTM_mE
|
| UTM_mE
|
| Elev._m
|
| Azimuth_°
|
| Dip_°
|
| Length_m
| LL-22-060
|
| 499347
|
| 5096540
|
| 331
|
| 60
|
| -53
|
| 129
| LL-22-061
|
| 499308
|
| 5096524
|
| 331
|
| 60
|
| -52
|
| 144
| LL-22-062
|
| 499246
|
| 5096533
|
| 325
|
| 60
|
| -58
|
| 195
| LL-22-063
|
| 499221
|
| 5096576
|
| 329
|
| 60
|
| -54
|
| 192
| LL-22-064
|
| 499200
|
| 5076611
|
| 322
|
| 60
|
| -53
|
| 222
| LL-22-065
|
| 499329
|
| 5096443
|
| 329
|
| 60
|
| -58
|
| 111
| LL-22-066
|
| 499267
|
| 5096449
|
| 331
|
| 60
|
| -56
|
| 132
| LL-22-067
|
| 499260
|
| 5096487
|
| 330
|
| 60
|
| -52
|
| 129
| LL-22-068
|
| 499296
|
| 5096419
|
| 329
|
| 60
|
| -58
|
| 117
| LL-22-069
|
| 499370
|
| 5096498
|
| 343
|
| 60
|
| -56
|
| 129
|
QAQC and Analytical Procedures
The drill core was logged and marked for sampling by a professional geologist. All the core was photographed as part of the logging procedure. Core samples were collected by splitting each sample interval in half lengthwise with a hydraulic core splitter. One half of the interval was returned to the core box, and the other half was placed in a plastic bag with a tag. The tag number was marked in indelible ink on the outside of the bag, and the bag was sealed with a plastic tie-wrap. One certified reference material standard and one blank were included in each batch of 21 samples. For shipping, samples were placed in rice bags that were individually sealed with numbered, tamper-proof security tags. The rice bags were then placed on wooden pallets, secured with plastic wrapping, and delivered by truck to Manitoulin Transport Inc. for shipping to Activation Laboratories Ltd. ("Actlabs") in Ancaster, Ontario.
At Actlabs the samples were crushed to 80% passing 2mm and then riffle split to a 250g sub-sample that was pulverized to pulp 95% passing 105µm (Actlabs Code RX1). The sample pulps were then analyzed for graphitic carbon ("Cg") by mild hydrochloric acid digestion followed by combustion in an infrared induction furnace (Actlabs Code 8Cg). Actlabs is accredited under ISO 9001:2015 registration and is independent of the Company.
Qualified Person
The technical content presented in this press release was reviewed by Mark Fekete, P.Geo. who actively participated in the La Loutre drill program as an independent consultant to the Company as the "Qualified Person" as that term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Lomiko Metals Inc.
Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals.
In addition to La Loutre, Lomiko is working with Critical Elements Lithium Corporation towards earning its 70% stake in the Bourier Project as per the option agreement announced on April 27th, 2021. The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2), in Canada’s lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.
About the La Loutre Graphite Project
The Company holds a 100% interest in its La Loutre graphite development project in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions.? Located 180 kilometres northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totalling 4,528 hectares (45.3 km2).
The Property is underlain by rocks belonging to the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favourable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism.
Lomiko Metals published a July 29, 2021 Preliminary Economic Estimate (PEA) which indicated the project had a 15-year mine life producing per year 100,000 tonnes of graphite concentrate at 95% Cg or a total of 1.5Mt of graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors.
On behalf of the Board,
Belinda Labatte
CEO and Director, Lomiko Metals Inc.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" ("FLI"). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", "proposes", "potential", "target", "implement", "scheduled", "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to: the Company’s objective to become a responsible supplier of critical minerals, exploration of the Company’s projects, including expected costs of exploration and timing to achieve certain milestones, including timing for completion of exploration programs; the Company’s ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); any anticipated impacts of COVID-19 on the Company’s business objectives or projects, the Company's financial position or operations, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. This FLI reflects the Company’s current views about future events, and while considered reasonable by the Company at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: current market for critical minerals; current technological trends; the business relationship between the Company and its business partners; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; the ability to operate in a safe and effective manner; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration business, including the Company’s competitive position in the industry; general economic conditions, including in relation to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the "Forward-Looking Statements" section contained in the Company’s most recent management’s discussion and analysis (MD&A), which is available on SEDAR at www.sedar.com, and on the investor presentation on its website. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
View source version on businesswire.com: businesswire.com
Contacts
For more information on Lomiko Metals, review the website at www.lomiko.com or
please contact:
Kimberly Darlington
k.darlington@lomiko.com
514-771-3398 |
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| To: LoneClone who wrote (168973) | 12/7/2022 3:30:53 PM | | From: LoneClone | | | | SCOTTIE RESOURCES INTERCEPTS 31.8 G/T GOLD OVER 4.00 METRES AND 6.82 G/T GOLD OVER 6.85 METRES ON D ZONE TARGET ADJACENT TO BLUEBERRY CONTACT ZONE
newswire.ca
Scottie Resources Corp. Dec 06, 2022, 07:05 ET
VANCOUVER, BC, Dec. 6, 2022 /CNW/ - Scottie Resources Corp. ("Scottie" or the "Company") (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8) is pleased to report new assays on its C and D zone targets, which occur as mineralized cross-structures adjacent to the Blueberry Contact Zone. Drilling of the targets generated high-grade intercepts of up to 60.7 g/t over 2 metres. The C and D Zones are part of the Scottie Gold Mine Project which also includes the historic Scottie Gold Mine and the rapidly advancing Blueberry Contact Zone. The Scottie Gold Mine Project is 100% owned and royalty free and is located 35 kilometres north of the town of Stewart, BC, along the Granduc Road.
Figure 1:& Plan view map of the C and D Zones and their location relative to the N-S oriented Blueberry Contact Zone. Highlighting the distribution and status of drilled targets from the 2022 season and the reported results thus far. (CNW Group/Scottie Resources Corp.)
President and CEO, Brad Rourke: "Part of our 2022 exploration program was devoted to testing the extent of known mineralized cross-structures associated with the Blueberry Contact Zone. These results confirm the successful targeting of the high-grade C and D zone structures more than 200 metres along strike from the Blueberry Contact. The grades and proximity exemplify the exploration potential outside of the main contact zone along cross-cutting mineralized structures. These structures will be incorporated in our 3D model and be a key focus during our 2023 drill program."
Table 1: Selected results from new drill assay results (uncut) from the C and D Zones.* True thicknesses of mineralized intercepts are undetermined
Drill Hole
|
| From
(m)
| To
(m)
| Width*
(m)
| Gold
(g/t)
| Silver
(g/t)
| SR22-160
|
| 29
| 43
| 14.00
| 0.70
| 6.65
| including
| 39
| 43
| 4.00
| 1.26
| 10.8
| and including
| 42
| 43
| 1.00
| 4.12
| 10.0
|
| 61.57
| 62.2
| 0.63
| 2.52
| 9.00
|
| 87
| 88.5
| 1.50
| 5.04
| 2.00
|
| 104
| 105
| 1.00
| 1.72
| 11.0
|
| 125
| 126
| 1.00
| 1.04
| 50.0
| SR22-182
|
| 33.35
| 40.2
| 6.85
| 6.82
| 29.4
| including
| 38.7
| 40.2
| 1.50
| 17.4
| 34.3
| SR22-183
|
| 43.9
| 47.9
| 4.00
| 3.16
| 24.7
| SR22-187
|
| 17
| 18
| 1.00
| 4.42
| 300
|
| 27.8
| 30.25
| 2.45
| 2.87
| 1.18
| SR22-188
|
| 38.4
| 42.4
| 4.00
| 31.8
| 84.0
| including
| 40.4
| 42.4
| 2.00
| 60.7
| 29.5
| SR22-191
|
| 146
| 147.5
| 1.50
| 1.54
| 10.0
|
| 172.5
| 174
| 1.50
| 4.36
| 2.00
| SR22-194
|
| 97.5
| 98.5
| 1.00
| 1.52
| 34.0
|
| 187.8
| 188.8
| 1.00
| 3.47
| 3.00
|
About the C and D Zones
The C and D zones are located approximately halfway between the Blueberry Vein and the past-producing Scottie Gold Mine. Historic work on the zones included geological mapping, rock and chip sampling and limited drilling. Mineralization is vein controlled and is comparable to the vein types observed at both the Scottie Gold Mine as well as the Blueberry vein. Historic drill intercepts on the C Zone generated gold-rich intervals up to 14.2 g/t gold over 5 metres. Drilling by Scottie Resources in 2021 extended the strike length of the mineralization further to the west with multiple high-grade intercepts, including 11.1 g/t gold over 1.0 metre and 8.65 g/t gold over 1.0 metre. Historic drilling on the D Zone failed to produce results comparable to the numerous high-grade surficial samples associated with the zone (up to 53 g/t gold), likely due to poor targeting of the primary mineralized structure which is obscured by steep terrain and heavy vegetation. The surficial expressions of both the C and D zones overlie an access tunnel which connects the A portal to the Scottie Gold mine, that was put into reduce avalanche risk during the mine's operation (Figure 1). Drilled in 2022, the intersection between the C zone structure and the Blueberry Contact Zone returned an interval of 9.12 g/t gold over 16.15 metres.
About the Blueberry Contact Zone
The Blueberry Zone is located just 2 kilometres northeast of the 100% owned, past-producing Scottie Gold Mine located in British Columbia, Canada's Golden Triangle region. Historic trenching and channel sampling of the Blueberry Vein include results of 103.94 g/t gold over 1.43 metres, and 203.75 g/t gold over 1.90 metres. Despite high-grade surficial samples and easy road access, the Blueberry Vein had only limited reported drilling prior to the Company's exploration work. The target was significantly advanced during Scottie's 2019 drill program when an interval grading 7.44 g/t gold over 34.78 metres was intersected in a new splay off zone of the main Blueberry Vein. The drill results received in 2020 and 2021, coupled with surficial mapping and sampling suggest that this splay is in fact a major N-S mineralized structure, of which the Blueberry Vein was only a secondary structure. This zone is much wider than pursued in previous exploration models and drilling in 2021 expanded its strike length to 720 metres and its depth to 225 metres. The zone is steeply dipping, and there is no current restraint on its potential depth; the mineralization at the adjacent Scottie Gold Mine has a vertical extent greater than 450 metres. The Blueberry Zone is located on the Granduc Road, 20 kilometres north of the Ascot Resources' Premier Project, which is in the process of refurbishing their mill. Newcrest's Brucejack Mine is located 25 kilometres to the north.
About the Scottie Gold Mine
The Scottie Gold Mine, which operated between 1981 to 1985, produced 95,426 gold ounces from 183,147 tonnes at an average recovered grade of 16.2 g/t gold. The mine ultimately shut down due to a drop in gold price combined with high-interest rates. Mineralization consists of east-west to northwest trending, steeply dipping, shear veins, that are comprised of pyrrhotite > pyrite ± quartz ± calcite. The veins are hosted in a package of andesitic volcanic rocks from the Hazelton Unuk River Formation that are situated adjacent to the contact with the Summit Lake stock, part of the Texas Creek Plutonic Suite. While 13 distinct gold-bearing vein zones have been identified on the Scottie Gold Mine Project, mine production was primarily from one vein (the M-zone).
Thomas Mumford, Ph.D., P.Geo and VP Exploration of Scottie, a qualified person under National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of the Company.
Quality Assurance and Control
Results from samples taken during the 2022 field season were analyzed at SGS Minerals in Burnaby, BC. The sampling program was undertaken under the direction of Dr. Thomas Mumford. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic absorption spectrometry and gravimetric finish when required (+9 g/t Au). Analysis by four acid digestion with multi-element ICP-AES analysis was conducted on all samples with silver and base metal over-limits being re-analyzed by emission spectrometry.
ABOUT SCOTTIE RESOURCES CORP.
Scottie owns a 100% interest in the Scottie Gold Mine Property which includes the Blueberry Zone and the high-grade, past-producing Scottie Gold Mine. Scottie also owns 100% interest in the Georgia Project which contains the high-grade past-producing Georgia River Mine, as well as the Cambria Project properties and the Sulu property. Altogether Scottie Resources holds more than 59,000 hectares of mineral claims in the Stewart Mining Camp in the Golden Triangle.
The Company's focus is on expanding the known mineralization around the past-producing mines while advancing near mine high-grade gold targets, with the purpose of delivering a potential resource. The Company's focus is on expanding the known mineralization around the past-producing mine while advancing near mine high-grade gold targets, with the purpose of delivering a potential resource.
All of the Company's properties are located in the area known as the Golden Triangle of British Columbia which is among the world's most prolific mineralized districts.
Forward Looking Statements
This news release may contain forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
SOURCE Scottie Resources Corp.
 For further information: Brad Rourke, President and CEO, +1 250 877 9902, brad@scottieresources.com; Gordon Robb, Business Development, +1 250 217 2321, gordon@scottieresources.com
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| To: LoneClone who wrote (168974) | 12/7/2022 3:32:47 PM | | From: LoneClone | | | | Red Pine Exploration Provides Summary of Results of the On Going Exploration at Surluga – A Path to a Revised Resource
ca.finance.yahoo.com
Red Pine Exploration Inc.
Tue, December 6, 2022 at 6:32 a.m.·9 min read
Figure 1- Plan Map of the drill hole locations from Red Pine Surface Drilling
Figure 1- Plan Map of the drill hole locations from Red Pine Surface Drilling
Figure 2- 2022 Surluga Deposit long section highlights with Exploration Results in the North and South Exploration Targets
Figure 2- 2022 Surluga Deposit long section highlights with Exploration Results in the North and South Exploration Targets
TORONTO, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to update our shareholders on results of the ongoing exploration since the consolidation of 100% ownership of the Wawa Gold Project.
The 2021-2022 surface exploration drilling program confirmed the presence of a large gold system on the Wawa Gold Project. Exploration drilling outside of the current Mineral Resources has successfully expanded high-grade gold mineralization and demonstrated the potential for continued expansion of the Mineral Resource.
Highlights from over from over 47,000 m of drilling in 2021-2022 include (Figure 1 and 2):
600 m extension of mineralization in the Surluga South area and 325 m extension in the Surluga North area
One of the best intersections in the Jubilee Shear Zone in the Surluga South Extension – 3.08 g/t gold over 55.66 m in SD-21-302 including 27.21 g/t Au over 3.81 m, 4.31 g/t Au over 10.10 m and 5.98 g/t Au over 2.30 m (TW)
High-grade intersections in the Minto Mine Shear Zone
68.71 g/t Au over 3.45 m (TW) in a gap in the existing resource of the Minto Mine Deposit
Highest grade intersection in the Minto Mine Shear Zone – 109.35 g/t Au over 2.68 m (TW) in a 110 m step out of the Minto Mine deposit resource
Confirmation of the presence of gold mineralization in the Jubilee Shear Zone, host of the Surluga Deposit, over 6.5 km in strike length from originally 1.8 km
Intersection of 42.95 g/t Au over 1.92 m in the southern extension
Confirmation of a large exploration target west of the Jubilee Shear Zone with high-grade mineralization and multiple gold zones related to a remobilized intrusion-related gold system (IRGS)
5.57 g/t gold over 8.51 m (CL) in SD-22-376
Discovery of three network of extensional quartz veins with high-grade intersections in each
52.12 g/t Au over 2.29 m (CL) in the Sadowski vein system
Many exploration targets with high potential to discover and extend gold mineralization with additional exploration remains to be tested
Company is funded to continue drilling in 2023 and Alamos Gold validates the project by continued participation in financings
Results suggest the potential for a hybrid pit and underground development scenarios for a future resource updated
Quentin Yarie, President and CEO of Red Pine Exploration commented: "The exploration story continues to unfold with a known strike length that has tripled since 2021 and demonstrates that the Surluga and Minto resources are open down-dip and down-plunge. Our 2021-2022 exploration drilling campaigns across multiple targets on the Wawa Gold Project have consistently delivered significant high-grade gold intersections, highlighting the expansion potential of the existing Surluga and Minto Mine Mineral Resources, and the significant blue-sky targets that exist across the Wawa Gold Project. Results have prioritized our focus to increasing the size of the Surluga/Minto resources and exploiting those targets with a hybrid open-pit and underground project."
Red Pine is well-funded and continues exploration drilling at the Surluga deposit with focus on infilling known gaps within the Surluga structure, as well as the definition of mineralization in the hanging wall above the resource. Over 2000 gold assays are pending as of today from our ongoing drill program, and we expect continued near term news-flow receipt of approximately 300 assays per week.
Figure 1- Plan Map of the drill hole locations from Red Pine Surface Drilling
Figure 1- Plan Map of the drill hole locations from Red Pine Surface Drilling is available at globenewswire.com
Exploration highlights since the ownership consolidation of the Wawa Gold Project in 2021
Surluga North target
Extending high-grade gold mineralization 325 metres (m) from the current Surluga Deposit Mineral Resource within the Jubilee Shear Zone: Highlight include:
SD-21-308 – 2.01 g/t Au over 27.26 m (estimated true width) – see news release of January 21, 2022
SD-22-337 – 8.44 g/t Au over 4.28 m (TW) – see news release of May 16, 2022
SD-22-361 – 11.06 g/t Au over 3.31 m (TW) – see news release of September 6, 2022
SD-22-363 – 4.52 g/t Au over 4.85 m (TW) – see news release of September 6, 2022
SD-22-385 – 5.66 g/t Au over 2.69 m (TW) – see news release of September 6, 2022
Gold mineralization remains open for extension in the Jubilee Shear Zone both down-dip and along strike to both the north and south.
Discovery of a quartz vein system overlying the Jubilee Shear Zone with certain veins containing high-grade gold mineralization
SD-22-321 – 8.46 g/t gold over 6.42 m* (core length) - see news release of March 30, 2022
SD-22-326 – 11.19 g/t gold over 2.61 m (CL) – see news release of April 19, 2022
Surluga South target
Proving that gold mineralization extends at least 550 m south from the current extent of the Surluga Deposit Mineral Resource in the Jubilee Shear Zone:
SD-21-297A – 4.66 g/t Au over 12.24 m (TW) – see news release of August 12, 2021
SD-21-298A – 25.73 g/t Au over 4.78 m (TW) – see news release of September 20, 2021
SD-21-302 – 27.21 g/t Au over 3.81 m, 4.31 g/t Au over 10.10 m and 5.98 g/t Au over 2.30 m (TW) – see news release of November 8, 2021
SD-21-312A – 8.00 g/t Au over 10.35 m (TW) – see news release of April 19, 2022
Minto Mine Shear Zone and Minto stockwork
Confirmation that high-grade gold mineralization extends in the Minto Mine Shear Zone, host to the Minto Mine deposit, at least 110m outside the extent of the current Mineral Resource:
SD-21-298A – 109.37 g/t Au over 2.68 m (TW) – see news release of September 2, 2021
Indications that infill drilling within the Minto Mine Deposit, including gaps in the existing Mineral Resource, confirm the continuity of high-grade gold mineralization:
SD-22-373 – 68.71 g/t Au over 3.45 m (TW) in the Minto Mine Shear Zone – see news release of July 14, 2022
SD-22-373 – 21.10 g/t Au over 3.25 meters (CL) in the Minto Stockwork – see news release of September 1, 2022
SD-22-377 – 17.49 g/t Au over 3.93 m (TW) – see news release of September 1, 2022
Figure 2- 2022 Surluga Deposit long section highlights with Exploration Results in the North and South Exploration Targets
Figure 2- 2022 Surluga Deposit long section highlights with Exploration Results in the North and South Exploration Targets is available at globenewswire.com
Sadowski high-grade vein systems
Discovery of the Sadowski vein network overlying the Minto Mine Deposit
SD-22-350 – 52.12 g/t Au over 2.29 m (CL) – see news release of May 16, 2022
SD-21-297A – 13.95 g/t Au over 4.48 m (CL) – see news release of August 12, 2021
Discovery of a new high-grade quartz vein network located 80 m south of the Sadowski Vein network
SD-22-379A – 10.18 g/t gold over 4.89 m including 59.70 g/t gold over 0.69 m (CL) – see news release of December 1, 2022
Jubilee Shear Zone (“JSZ”) south of the Parkhill Fault
New discovery of the JSZ over an additional strike length of 1.8 km, south of the Parkhill fault
Confirmation that the southern segment of the Jubilee Shear Zone is gold-bearing
JS-22-368 – 42.95 g/t Au over 1.92 m, including 85.72 g/t over 0.96 m – see news release of September 6, 2022
Wawa Gold corridor west of the Jubilee Shear Zone (Intrusion related Gold System)
Improved understanding of the gold mineralization system located west of the Jubilee Shear Zone - of the origins and significance of the potentially sizeable
Mineralization system has intrusion-related gold affinities and is variably overprinted and deformed by the orogenic gold system
Characterized by stacked zones of gold mineralization with variable width and grade
Selected drilling intersections of significance in the intrusion-related system includes:
SD-22-376 – From 115.18 m three zones of mineralization containing 5.57 g/t gold over 8.51 m (CL), 4.41 g/t gold over 1.27 m (CL) see news release of December 1, 2022
SD-19-277 – From 80.48 m to 231.67 m three zones of mineralization containing 1.74 g/t Au over 9.84 m – see news release of November 21, 2019
SD-21-310 – From three zones of mineralization containing 2.11 g/t Au over 6.99 m (CL)
Quality Assurance/Quality Control ("QA/QC") Measures
Drill core samples were transported in security sealed bags for analyses to Actlabs in Ancaster, Ontario. Individual samples were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags and shipped. The residual coarse reject portions of the samples remain in storage if further work or verification is needed.
Red Pine has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.
Qualified Person
Quentin Yarie, P.Geo. and Chief Executive Officer of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the news release’s technical information.
COVID-19 Precautions
Red Pine has developed and implemented compliant precautions and procedures according to guidelines for the Province of Ontario. Protocols were put in place to ensure our employees’ and contractors’ safety, thereby reducing the potential for community contact, and spreading of the virus.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol “RDEXF”.
The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,900 hectares in size. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region.
For more information about the Company, visit www.redpineexp.com
Or contact:
Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com
Or
Carrie Howes, Director Corporate Communications, (416) 644-7375 chowes@redpineexp.com
1 National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, report effective August 18, 2021.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. |
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| To: LoneClone who wrote (168975) | 12/7/2022 3:36:54 PM | | From: LoneClone | | | | Exploits Receives Exploration Permit for Bullseye
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2022) - Exploits Discovery Corp. (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to announce that it has received the exploration permit from the Province of Newfoundland and Labrador that pertains to responsibly conducting exploration activities within the Company's Bullseye claims. The Bullseye claims will be the principal focus of the Company's upcoming exploration activities over the next six months.
Ken Tylee (Vice President, Exploration) indicates that the Gander-based team plans to initiate their Bullseye exploration activities immediately. An escalating sequence of exploration programs will be employed through use of local, diligent contractors (weather/safety dependant):
Prospecting and sampling - 'boots-on-ground' appraisalLiDAR airborne surveys - to delineate bedrock characteristics & structural influencesClaim-perimeter land surveying & accurate location control of key featuresGround geophysics (Magnetics, VLF, & Alpha IP™ methods)Commencement of a results-driven exploration drilling program upon completion of the team's interpretation of the campaign results (above). Mr. Tylee is aiming for an early-February mobilization of the contracted drilling equipment and crew
President and CEO, Jeff Swinoga, comments, "With the permit in hand, we are on our way to unlock the potential of these game changing Bullseye claims. We are all excited to get on the ground and execute our aggressive exploration programs at Bullseye."
Titan Drilling Update
Exploits' 20-hole, 6059-meter drilling campaign at Titan was completed on-schedule in late November. Our local geology team will defer their final interpretation of the complex geology underlying the property until all remaining assays have been received from the contracted assay laboratory. The Company intends to release these results early in 2023.
Figure 1. Bullseye Claims
The overview map shows new claims acquired by Exploits and selected drill hole assay intercepts published by New Found Gold Corp. and Labrador Gold Corp. made publicly available in their respective corporate presentations. Readers are cautioned that the presence of mineralization on claims adjacent to those held by the Company is not necessarily indicative of mineralization that may exist on claims held by the Company.
To view an enhanced version of Figure 1, please visit:
images.newsfilecorp.com
About Exploits Discovery Corp.
Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. The Company is actively exploring its gold projects in the Exploits Subzone, covering approximately 2,000 square kilometres of mineral tenements. The Company's Exploration 2.0 methodology is focused on discovering high-grade structurally hosted epizonal gold similar to New Found Gold's success at the Keats and Lotto Zones in the Appleton zone. Exploits is leveraging its local team and geologic understanding to become one of the most extensive explorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "Jeff Swinoga"
President and CEO
For more information, please contact:
Shanda Kilborn
VP, Investor Relations
+1 (778) 819-2708
investors@exploits.gold
newsfilecorp.com
National Instrument 43-101 Disclosure
Ken Tylee, P.Geo., VP of Exploration with Exploits, is a qualified person within the Provinces of Ontario and Newfoundland and Labrador, as defined by NI 43-101 guidance. Mr. Tylee has reviewed and approved the technical information presented herein.
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Acknowledgments
Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador. |
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