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Sitka Discovers Visible Gold on Surface at Josephine Zone 3.6 km East of the Blackjack Deposit at its RC Gold Project, Yukon
https://ca.finance.yahoo.com/news/sitka-discovers-visible-gold-surface-123000665.html
CNW Group
August 2, 2023·6 min read
VANCOUVER, BC, Aug. 2, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce that recent geological mapping and prospecting at its road accessible RC Gold Project ("RC Gold" or the "Project") located in the Tombstone Gold Belt approximately 60 kms from the producing Eagle Gold Mine in the Yukon Territory, Canada has identified visible gold in the Josephine Zone at surface, in outcrop, approximately 3.6 kilometres (km) east of the Blackjack Deposit (900,000 ounces @ 0.83 g/t gold inferred resource; see news release dated January 19, 2023 and Figures 1 through 5).
In addition to the newly discovered visible gold south of the Josephine intrusion several key highlights from the mapping are:
The identification of the surface expression of the mineralized Friendly fault which cuts through and may sinistrally offset the Saddle intrusion.
The extension of the mapped surface expression of the Saddle intrusion to the south and north, lamprophyre dike mapped at the northern extent of the Saddle intrusion.
The identification of a highly prospective zone of veining in the hornfelsed country rock in an EastWest corridor between the Saddle and Eiger intrusion.
The identification of substantial, mineralized veins and zones of alteration within the Eiger intrusion.
The identification of sheeted veins and visible gold in the hornfelsed country rock south of the Josephine intrusion (see Figures 3 and 4).
The identification of mineralized veins within and adjacent to the western edge of the Pukelman intrusion.
The slight expansion of and the confirmation of mineralized veins within the Big Creek intrusion.
"The discovery of visible gold in outcrop on surface at the Josephine Zone is very exciting and provides additional support that the Clear Creek Intrusive Complex, encompassing the 5 km extensional mineralized corridor that spans across both the Blackjack and Eiger deposits, has the potential to host additional gold deposits of significant size and grade", said Cor Coe, CEO and Director of Sitka Gold. "The recent interpretation of the high resolution MAG survey we conducted last year, along with the compilation of historical geochemical surveys across the area, highlighted several new targets throughout the Clear Creek Intrusive Complex that we have only just begun to follow up on. Based on the geophysics and geochem completed to date, the Josephine Zone itself appears to have the size and scale required to host large intrusion-related gold deposits and the discovery of native gold on surface during a first pass reconnaissance there bodes well for future exploration success. It is still early days at our RC Gold Project and with the abundance of additional high-priority intrusion-related gold targets present across this district-scale project (see Figures 1 and 2) we believe there is great potential for further discoveries to be made."
Figure 1: Plan map of the district-scale RC Gold Project (CNW Group/Sitka Gold Corp.)
Figure 2: Plan map of the northern extent of the Clear Creek Intrusive Complex encompassing the Blackjack, Saddle, Eiger, Josephine and Pukelman Stocks (CNW Group/Sitka Gold Corp.)
The Company is currently conducting up to 10,000 metres of diamond drilling at RC Gold, primarily focused on the expansion of the 1,340,000 ounce initial gold mineral resource estimate comprising the newly discovered Blackjack and Eiger reduced intrusion-related gold deposits (see news release dated January 19, 2023). So far this year, 12 drill holes and approximately 5,300 metres of drilling has been completed. Additional exploration based on the interpretation of new and historical geological, geophysical and geochemical datasets (see news release dated June 26, 2023) has resulted in the identification of new areas of gold mineralization. Initial fieldwork consisting of detailed geological mapping has focused on the northern portion of the Clear Creek Intrusive Complex which contains the Saddle, Eiger, Josephine, Pukelman, Rhosgobel and Big Creek intrusions emplaced within a broad extensional tectonic setting (see Figure 1). The northern portion of the Clear Creek Intrusive Complex contains the Saddle intrusion (host to the Blackjack Deposit), Eiger intrusion (host to the Eiger Deposit) and the Josephine intrusion where visible gold was discovered during geological mapping (see Figure 3 to 5). The gold was discovered in a quartz-sulfide vein hosted in altered metasedimentary rocks immediately south of the Josephine intrusion. Crews are currently prospecting the key areas identified by the geological mapping and will assess the potential of the new areas of intrusion hosted and proximal types of gold mineralization.
Three dimensional inversion modelling and interpretation of an airborne magnetic (MAG) survey flown over the RC Gold Project in 2022 together with coincident gold-in-soil anomalies indicates that the gold bearing intrusive bodies present at surface in this area and that host these reduced intrusion-related gold deposits could be much larger than previously defined and appear to be part of a major, gold-enriched intrusive system that is connected at depth (see news release dated June 26, 2023) . The MAG survey and coincident geochemical data also demonstrate that the gold mineralized extensional corridor within the northern portion of the Clear Creek Intrusive Complex that spans across the Blackjack and Eiger gold deposits appears to be over 5 kilometres in length and contains the Josephine intrusion. The newly discovered visible gold on surface in mineralized quartz veining proximal to the southern end of the Josephine intrusion adds significant potential for additional deposit discoveries within this portion of the project.
Ongoing work continues to identify prospective reduced intrusion-related gold deposit targets associated with the nine intrusions identified by regional scale geological mapping and in areas that contain no mapped intrusions on the 376 square km project. The potential for the discovery of high-grade intrusion related gold deposits in the Tombstone Gold Belt (TGB) is highlighted by the grades encountered in the Blackjack Deposit and in Snowline Gold's Valley Gold Deposit. The TGB is the focus of numerous exploration programs across Yukon and Alaska driven by this newly recognized potential. Sitka is pleased to control a significant portion of the TGB and will continue to explore the RC Gold Project with a focus on expanding the newly discovered Blackjack and Eiger Deposits and evaluation of the many significant underexplored gold targets contained within the project area.
Figure 3: Visible gold observed in surface outcrop at the Josephine Zone (CNW Group/Sitka Gold Corp.)
Figure 4: Sheeted veins found south of the Josephine Stock where visible gold was discovered (CNW Group/Sitka Gold Corp.)
Figure 5: Outcrop with sheeted veins at the western margin of the Josephine stock where arsenopyrite and pyrite was observed (CNW Group/Sitka Gold Corp.)
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka currently has an option to acquire a 100% interest in the RC, Barney Ridge, Clear Creek and OGI properties in the Yukon and the Burro Creek Gold property in Arizona. Sitka owns a 100% interest in its Alpha Gold property in Nevada, its Mahtin Gold property in the Yukon and its Coppermine River project in Nunavut.
The Company recently announced an NI 43-101 compliant initial inferred Mineral Resource Estimate of 1,340,000 ounces of gold(1) beginning at surface and grading 0.68 g/t at its RC Gold Project in Yukon (see news release dated January 19, 2023). A resource expansion diamond drilling program is currently underway.
The Company is also planning additional drilling at its Alpha Gold Property in Nevada where a new Carlin-type gold system was recently discovered. The Company is focused on vectoring towards the high-grade core of this system, which is located on the Cortez Trend just 40 km southeast of the Cortez Mine Complex of Barrick/Newmont.
(1)
Simpson, R. January 19, 2023. Clear Creek Property, RC Gold Project, NI 43-101 Technical Report, Dawson Mining District,
Yukon Territory.
The scientific and technical content of this news release has been reviewed and approved by Cor Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
President and Director
Cautionary and Forward-Looking Statements
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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, among other things, the use of the proceeds raised under the Offering and the Company's anticipated work programs.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will complete its anticipated work programs and use the proceeds of the Offering as currently anticipated.
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, market uncertainty, the results of the Company's anticipated work programs and that the Company will not use the proceeds of the Offering as currently anticipated.
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.
Sitka Gold Corp. Logo (CNW Group/Sitka Gold Corp.)
Cision
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SOURCE Sitka Gold Corp.
Cision
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Victoria Gold: 2023 Second Quarter Results
https://ca.finance.yahoo.com/news/victoria-gold-2023-second-quarter-220800280.html
Victoria Gold Corp
Wed, August 9, 2023 at 3:08 p.m. PDT·18 min read
TORONTO, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX
WESTERN COPPER AND GOLD PROVIDES UPDATE ON CASINO ASSESSMENT PROCESS
https://www.newswire.ca/news-releases/western-copper-and-gold-provides-update-on-casino-assessment-process-871760539.html
Western Copper and Gold Corporation 09 Aug, 2023, 17:00 ET
VANCOUVER, BC, Aug. 9, 2023 /CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) through its wholly-owned subsidiary, Casino Mining Corporation ("Casino") has been informed by the Executive Committee of the Yukon Environmental and Socio-Economic Assessment Board that the deadline for issuance of the final revised Environmental and Socio-Economic Statement Guidelines (the "Guidelines"), for the Casino Copper-Gold Project's review by a Panel of the Board has been extended to September 15, 2023. The previous deadline was August 17, 2023.
The Company is currently working on its Environmental and Socio-Economic Statement ("ESE Statement") and will be able to give guidance on the timing of submittal after receipt of the final Guidelines.
"Our environmental team has been working diligently through a significant summer program finalizing data collection in preparation for filing our ESE Statement," said Paul West-Sells, President and CEO. "We continue to work closely with Federal, Territorial and First Nation governments and stakeholders to ensure that the Casino Copper-Gold Project will provide long-lasting benefits to the Yukon."
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.
The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.
For more information, visit www.westerncopperandgold.com
On behalf of the board,
"Paul West-Sells"
Dr. Paul West-Sells
President and CEO
Western Copper and Gold Corporation
Cautionary Disclaimer Regarding Forward-Looking Statements and Information
This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Certain forward-looking information should also be considered future-oriented financial information ("FOFI") as that term is defined in NI 51-102. The purpose of disclosing FOFI is to provide a general overview of management's expectations regarding the anticipated results of operations and capital expenditures and readers are cautioned that FOFI may not be appropriate for other purposes. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding: mineral resource and reserve estimation; mine plan and operations; internal rate of return; sensitivities; net present value; potential recoveries; design parameters; economic potential; processing mineralized material; the potential of robust economics at Casino; advancing the Project through additional engineering and towards the next step in permitting and submission of an environmental and socio-economic effects statement; key changes to the TMF design; increases to the gold recovery in the heap leach; potential economic returns from the Project; estimated initial capital investment costs; estimated operating costs; estimated mining costs; development of the airstrip and all weather access road; anticipated concentrate handling service charges; developing and operating the Project in a safe, ethical and socially-responsible manner; plans for further development and securing the required permits and licenses for further studies to consider operation; market price of precious and base metals; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-looking statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availability of capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosed throughout this document, and in the AIF and Form 40-F.
Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.
Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and 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, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
SOURCE Western Copper and Gold Corporation
For further information: Sandy Noyes, Director, Investor Relations, 604.638.2520 or snoyes@westerncopperandgold.com
Cascadia Options Sands of Time Property, Yukon
https://www.newswire.ca/news-releases/cascadia-options-sands-of-time-property-yukon-864396620.html
Cascadia Minerals Ltd. 08 Aug, 2023, 08:00 ET
VANCOUVER, BC, Aug. 8, 2023 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) is pleased to announce that it has optioned the 57 km2 Sands of Time property ("the Property") from Dr. Jack Milton.
The Property is located immediately adjacent to Western Copper and Gold's Casino Project ("Casino") in central Yukon, and preliminary exploration results from the Property are indicative of the potential for similar copper-molybdenum-gold porphyry mineralization.
Sands of Time Location Map (CNW Group/Cascadia Minerals Ltd.)
Sands of Time Highlights
Large, 57 km2 land package located adjacent to the Casino porphyry project, where Rio Tinto and Mitsubishi Materials are strategic investors (Figure 1);
Two large, underexplored molybdenum ± copper soil anomalies similar in size to the anomalies over Casino Deposit, the larger of which has never been drilled (Figure 2); and
Casino Suite aged zircons present in stream sediments indicating an undiscovered Casino Suite aged intrusion is likely present on the Property.
"We're pleased to be adding the Sands of Time property to our portfolio of copper exploration projects," stated Cascadia's president and CEO, Graham Downs. "Jack has utilized modern geological techniques to identify compelling, science-based evidence that the property may host porphyry-style mineralization under cover. We look forward to building on Jack's work on the property with a systematic exploration campaign to fully evaluate its potential."
Figure 1 – Property Location
Figure 2 – Molybdenum-in-Soil
Property Geology and Mineralization
The 57 km2 Sands of Time Property is located immediately adjacent to Western Copper and Gold's Casino Project. The Property hosts 2 large molybdenum ± copper soil geochemical anomalies similar in size to the Casino Deposit.
The property is in unglaciated terrain and a copper-depleted leached cap is expected in this environment, similar to the Casino deposit. Molybdenum is relatively immobile compared to copper under these weathering conditions and can be used as a vector towards blind porphyry molybdenum ± copper-gold mineralization.
The Amoco showing, located on the western side of the SOT claims, has a 1,100 x 600 m copper-molybdenum soil anomaly (Figure 2). Four shallow diamond drill holes located just outside of the soil anomaly were drilled by Amoco Canada Petroleum Company in 1976. The holes were anomalous for copper and molybdenum, with up to 0.02% copper and 50 ppm molybdenum over 154 m and were not assayed for gold.
The northeast corner of the SOT claims has a large 5,000 x 1,500 m molybdenum±copper soil anomaly that has not been drilled (Figure 2). The target is located within a moderate to strong 4 x 4 km magnetic high and coincident with two roughly 1,000 x 1,000 m potassium highs identified by a 2012 airborne radiometrics survey.
Casino Suite aged zircons were identified in stream sediments draining the Property, suggesting there is an unmapped intrusion of similar age to the Casino Deposit present on the property. In addition, a high abundance of gold grains were also encountered in stream sediments in similar abundance to the drainage below the Casino Deposit, suggesting a bedrock gold source is present on the Property.
The Property is underlain by Devonian to Permian metamorphic rocks of the Yukon Tanana terrane, which are intruded by Cretaceous to Palaeogene intrusive and volcanic rocks. The Property is dominantly underlain by the mid-Cretaceous Dawson Range batholith.
Option terms
Cascadia can acquire a 100% interest in the Property by making aggregate cash payments of $200,000, aggregate issuance of 900,000 shares, and incurring $1,300,000 in exploration expenditures on or before December 31, 2026. Following completion of the option, the Property will remain subject to a 2% net smelter return royalty, of which half (1%) can be purchased by Cascadia for $1,000,000. A milestone payment of $1 per ounce of gold equivalent will also be due to Dr. Milton upon the completion of the first measured or indicated mineral resource on the Property equal to or greater than 1,000,000 ounces of gold equivalent.
QA/QC
Results reported in this release are from samples collected by Dr. Milton and historical assessment reports and have not been independently verified by Cascadia.
Results referenced in this release represent highlight results only and consist of samples collected by previous operators in 2022 and earlier years. Below detection values for gold, copper and molybdenum have been encountered in soil and rock samples in these target areas.
The technical information in this news release has been approved by Adam Coulter, M.Sc., P.Geo., VP Exploration for Cascadia and a qualified person for the purposes of National Instrument 43-101.
About Cascadia
Cascadia is a Canadian junior mining company focused on exploring for copper and gold in Yukon and British Columbia. Cascadia's flagship Catch Property is a brand-new grassroots discovery which exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with rock samples returning peak values of 3.88% copper and 30.00 g/t gold. Diamond drilling is planned to commence at Catch in early August. In addition to Catch, Cascadia is conducting exploration work at its PIL Property in British Columbia and the Sands of Time and Rosy properties in Yukon, as well as evaluating additional regional opportunities.
On behalf of Cascadia Minerals Ltd.
Graham Downs, President and CEO
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.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to update forward-looking information, except as required by securities laws.
SOURCE Cascadia Minerals Ltd.
For further information: Andrew Carne, M.Eng., P.Eng., VP Corporate Development, Cascadia Minerals Ltd., T: 604-688-0111 ext. 106, acarne@cascadiaminerals.com
Snowline Gold Intersects 553.8 m of 2.5 Grams Per Tonne Gold from Surface Including 5.0 Grams Per Tonne Gold Over 132.0 m Along With Robust Mineralization at Depth at Valley, Rogue Project, Yukon
https://www.accesswire.com/772040/Snowline-Gold-Intersects-5538-m-of-25-Grams-Per-Tonne-Gold-from-Surface-Including-50-Grams-Per-Tonne-Gold-Over-1320-m-Along-With-Robust-Mineralization-at-Depth-at-Valley-Rogue-Project-Yukon
Thursday, August 3, 2023 7:00 AM
Snowline Gold Corp.
https://snowlinegold.com/
Victoria Gold: Operational Update
https://ca.finance.yahoo.com/news/victoria-gold-operational-202200527.html
Victoria Gold Corp
Tue, August 1, 2023 at 1:22 p.m. PDT·6 min read
WHITEHORSE, Yukon, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) announces that its employees have begun re-mobilization to the Eagle Gold mine. On July 29, due to wildfire activity in the area of the Eagle Gold mine, the operation had been partially evacuated.
The East McQuesten fire is being actively managed by the Yukon Wildland Fire Management response team. Due to progress made in managing the fire in the vicinity of the Eagle Gold mine, the Company, in consultation with Wildland Fire Management, has determined that it is safe for employees to return to site.
Mr. John McConnell, President and CEO commented, “We would like to thank the firefighters on the ground who have made progress in recent days managing the East McQuesten fire. We will continue to monitor the situation with the safety of our employees as our highest priority.”
On August 1, re-mobilization of employees to the Eagle Gold mine commenced. Victoria expects a return to normal operations in the coming days.
Qualified Person
The technical content of this news release has been reviewed and approved by Paul D. Gray, P.Geo., as the “Qualified Person” as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property (the “Property”) is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The Property is accessible by road year round, and is located within Yukon Energy's electrical grid.
The Property covers an area of approximately 555 square kilometers, and is the site of the Company's Eagle and Olive Gold Deposits. The Eagle Gold Mine is Yukon's newest operating gold mine. The Eagle and Olive deposits include Proven and Probable Reserves of 3.3 million ounces of gold from 155 million tonnes of ore with a grade of 0.65 grams of gold per tonne, as outlined in a National Instrument 43-101 Technical Report for the Eagle Gold Mine dated December 3, 2019. The Mineral Resource under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for the Eagle and Olive deposits has been estimated to host 227 million tonnes averaging 0.67 grams of gold per tonne, containing 4.7 million ounces of gold in the "Measured and Indicated" category, inclusive of Proven and Probable Reserves, and a further 28 million tonnes averaging 0.65 grams of gold per tonne, containing 0.6 million ounces of gold in the "Inferred" category.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". Except for statements of historical fact relating to Victoria, information contained herein constitutes forward-looking information, including any information related to Victoria's strategy, plans or future financial or operating performance. Forward-looking information is characterized by words such as “plan”, “expect”, “budget”, “target”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will”, “could” or “should” occur, and includes any guidance and forecasts set out herein (including, but not limited to, production and operational guidance of the Corporation). In order to give such forward-looking information, the Corporation has made certain assumptions about the its business, operations, the economy and the mineral exploration industry in general, in particular in light of the impact of the novel coronavirus and the COVID-19 disease (“COVID-19”) on each of the foregoing. In this respect, the Corporation has assumed that production levels will remain consistent with management’s expectations, contracted parties provide goods and services on agreed timeframes, equipment works as anticipated, required regulatory approvals are received, no unusual geological or technical problems occur, no material adverse change in the price of gold occurs and no significant events occur outside of the Corporation's normal course of business. Forward-looking information is based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those described in, or implied by, the forward-looking information. These factors include the impact of general business and economic conditions, risks related to COVID-19 on the Company, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, anticipated metal production, fluctuating metal prices, currency exchange rates, estimated ore grades, possible variations in ore grade or recovery rates, changes in accounting policies, changes in Victoria's corporate resources, changes in project parameters as plans continue to be refined, changes in development and production time frames, the possibility of cost overruns or unanticipated costs and expenses, uncertainty of mineral reserve and mineral resource estimates, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, final pricing for metal sales, unanticipated results of future studies, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, requirements for additional capital, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage and timing and possible outcomes of pending litigation and labour disputes, risks related to remote operations and the availability of adequate infrastructure, fluctuations in price and availability of energy and other inputs necessary for mining operations. Although Victoria has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in, or implied by, the forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding Victoria's expected financial and operational performance and Victoria's plans and objectives and may not be appropriate for other purposes. All forward-looking information contained herein is given as of the date hereof, as the case may be, and is based upon the opinions and estimates of management and information available to management of the Corporation as at the date hereof. The Corporation undertakes no obligation to update or revise the forward-looking information contained herein and the documents incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable laws.
For Further Information Contact:
John McConnell
President & CEO
Victoria Gold Corp
Tel: 604-696-6605
ceo@vgcx.com
Trailbreaker Resources Adds Intrusion Related Sheldon Property Located in the Tombstone Gold Belt - Yukon
https://ca.finance.yahoo.com/news/trailbreaker-resources-adds-intrusion-related-114500750.html
Trailbreaker Resources Ltd.
Mon, July 31, 2023 at 4:45 a.m. PDT·7 min read
Figure 1
Location of the Sheldon property within the Tombstone Gold Belt and the Selwyn Basin.
Figure 2
‘Magnetic’ pimples highlighted in yellow where strongly hornfelsed sedimentary rocks may overlie blind intrusive centers. No exploration work has been conducted on these targets. Low conductivity (high resistivity) features indicate the presence of an intrusive center at the Sheldon property, as confirmed from regional and local mapping.
Figure 3
Gold in soil and rock samples overlain on mapped geology of the Sheldon property. Gold shows a strong correlation with the granitic stock and locally the hornfelsed sedimentary rocks. White dashed ellipsoid indicates 1 km x 1.2 km area with limited sampling and elevated Au-Te values in surrounding samples.
VANCOUVER, British Columbia, July 31, 2023 (GLOBE NEWSWIRE) -- Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce it has now added the 919-hectare (ha) Sheldon property, located in central Yukon, as part of its robust property portfolio.
The Sheldon property covers a “Reduced Intrusion Related Gold System” (RIRGS), located within the Tombstone Gold Belt of the Selwyn Basin. The Tombstone Belt is host to gold (Au)-bearing prospects and deposits including: Snowline Gold’s Valley discovery (e.g. 410.0 m @ 1.89 g/t Au)1; Kinross Gold’s Fort Knox mine (10 million ounces of gold, including past production)2 and Victoria Gold’s Eagle mine (4.3 million ounces of gold)3.
The property is located along the North Canol Road approximately 110 km northeast of the town of Ross River (Figure 1). The property has excellent infrastructure with road access within 800 m of the property boundary.
Highlights of the Sheldon Property
Located within the geologically fertile and highly prospective Tombstone Gold Belt of the mining-friendly Yukon Territory;
Road accessible via the North Canol Road, approximately 110 km northeast of Ross River;
Historic rock samples assayed up to 6.17 g/t Au;
Reduced-Intrusion Related Gold System (RIRGS) style mineralization evident on the property, with many characteristic RIRGS geological features;
Underexplored, with a number of strong geochemical and geophysical targets identified;
100% owned by Trailbreaker Resources, with no underlying payments or royalties.
Location of the Sheldon property within the Tombstone Gold Belt and the Selwyn Basin.
Figure 1: Location of the Sheldon property within the Tombstone Gold Belt and the Selwyn Basin.
Exploration Potential
The Sheldon property is underexplored and has undergone only short surface sampling campaigns between the early 1990s and 2012.
A regional-scale Z-Axis Tipper Electromagnetic (ZTEM) survey was flown over a significant portion of the Selwyn Basin in 2008. This data was reprocessed by Condor Consulting in 20134 and made publicly available by the Yukon Geological Survey. The data from this survey shows magnetic and conductivity characteristics across the Sheldon property that are common in RIRGS deposits. These features include a high resistivity signature associated with the felsic intrusive rocks and magnetic high features surrounding the intrusions, associated with pyrrhotite-bearing hornfelsed sedimentary rocks. Of particular interest are two magnetic ‘pimples’ within the claim boundaries that may reflect strongly hornfelsed rocks above a blind intrusion (Figure 2). As the highest grades of RIRGS mineralization commonly occur in upper portions of fertile intrusions, the potentially intact carapace in the northwest and southeast property areas highlight attractive exploration targets. Neither of these target areas have undergone any documented exploration .
Most geochemical sampling and mapping to date has been focused on the southern extent of the Sheldon Stock, where gold mineralization was first encountered. Although less geochemical coverage occurred along the northern flank of the stock, the more limited work revealed consistently elevated gold values from rock and soil sampling. Additionally, this area has the best correlation between gold (Au) and tellurium (Te), a robust pathfinder element for Au in RIRGSs. The spacing between sampling in this area is such that a significant deposit could occur between sample locations, based on the approximate footprint of other RIRGS deposits (Figure 3), including Snowline Gold’s Valley prospect.
‘Magnetic’ pimples highlighted in yellow where strongly hornfelsed sedimentary rocks may overlie blind intrusive centers. No exploration work has been conducted on these targets. Low conductivity (high resistivity) features indicate the presence of an intrusive center at the Sheldon property, as confirmed from regional and local mapping.
Figure 2: ‘Magnetic’ pimples highlighted in yellow where strongly hornfelsed sedimentary rocks may overlie blind intrusive centers. No exploration work has been conducted on these targets. Low conductivity (high resistivity) features indicate the presence of an intrusive center at the Sheldon property, as confirmed from regional and local mapping.
History
Gold-bearing quartz veins were first recognized at Sheldon by the Geological Survey of Canada (GSC) in 1944. In 1990, a regional stream sediment survey conducted by the GSC highlighted multiple drainages with anomalous arsenic and antimony.
The work conducted by the GSC, along with the then-recent discovery at Dublin Gulch (now Victoria Gold’s Eagle Mine) in Yukon, resulted in the initial staking of the property in 1991. Between 1991-1993, surface rock and soil geochemical sampling, as well as geological mapping, were completed, targeting Fort Knox style mineralization. Rock chip samples from this work returned assays as high as 6.17 g/t Au 5, from quartz veining in the granitic Sheldon Stock (Figure 3).
The claims were restaked in 2011, followed by a short prospecting and sampling program conducted in 2012. Rock samples from this program graded up to 2.08 g/t Au 6.
Since 2012, no work has been completed on the property. The Sheldon block is a legacy property originally held by Goldstrike Resources Ltd. Trailbreaker owns 100% of the property with no underlying payments or royalties.
Gold in soil and rock samples overlain on mapped geology of the Sheldon property. Gold shows a strong correlation with the granitic stock and locally the hornfelsed sedimentary rocks. White dashed ellipsoid indicates 1 km x 1.2 km area with limited sampling and elevated Au-Te values in surrounding samples.
Figure 3: Gold in soil and rock samples overlain on mapped geology of the Sheldon property. Gold shows a strong correlation with the granitic stock and locally the hornfelsed sedimentary rocks. White dashed ellipsoid indicates 1 km x 1.2 km area with limited sampling and elevated Au-Te values in surrounding samples.
Geology
The Sheldon property is centered on the mid-Cretaceous Sheldon stock, a member of the Tombstone Gold Belt intrusive suite emplaced within the Selwyn Basin of Yukon. The Sheldon stock is described as a polyphase biotite granitic to granodioritic intrusion, emplaced during a regional extensional event coincident with emplacement of the Tombstone intrusive suite. Gold mineralization is associated with quartz and arsenopyrite veining within the Sheldon Stock, as well as in hornfelsed sedimentary rocks surrounding the stock.
The Sheldon property displays many classic features of RIRGS deposits 7, including, but not limited to:
Sheeted quartz veins hosted in a mid-Cretaceous granite;
Intrusive rocks with biotite>hornblende, indicating volatile content of the intrusion;
Constrained size of intrusive stock is favourable for hosting RIRGS;
Strong gold-arsenic-bismuth-tellurium-tungsten (Au-As-Bi-Te-W) geochemical association;
Typical geophysical characteristics (resistivity high and magnetic high around stock) of a felsic intrusion surrounded by a hornfelsed aureole in sedimentary rocks
Future work recommendations
Additional geochemical sampling and geological mapping is recommended to be completed over areas of low sample density, particularly where magnetic ‘pimples’ occur in the northwest and southeast of the property. This is also recommended to be done along the northern margin of the Sheldon Stock, where a strong Au-Te association is observed.
A higher-resolution magnetic survey will aid in further defining the hornfelsed alteration zone and granitic intrusive boundaries.
Follow-up drill testing should focus on the most prospective geological and geochemical targets to test for bulk-tonnage RIRGS mineralization in the vertical dimension.
Message from the President
“Adding the RIRGS Sheldon property to our portfolio greatly increases our exposure to potential significant gold discoveries within the exciting Tombstone Gold Belt, with no additional cost to the shareholders. With the recent discoveries by Snowline Gold, which have resulted in an enhanced understanding of the Yukon-based RIRGS systems, we have re-evaluated this target. We are impressed with the similarities, even at this early stage. We feel that the geological characteristics of this project suggest that there is potential for multiple mineralized zones to occur, associated with the Sheldon Stock complex, within our existing claim boundaries.”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
References
1) https://snowlinegold.com/news/
2) https://www.kinross.com/operations/default.aspx#americas-fortknox
3) https://vgcx.com/production/eagle-gold-mine/overview/
4) https://data.geology.gov.yk.ca/Reference/68174#InfoTab
5) Doherty, R.A., J van Randen, J.A., 1994, Report on the 1994 geological and geochemical assessment work on the Mount Sheldon property, Whitehorse Mining District, Yukon, Assessment Report #093220
6) C. Jones, 2013, Report on the CANDO 2 property: 2012 exploration program, Whitehorse Mining District, Yukon, Assessment Report # 096351
7) Hart, C.J.R., 2007, Reduced Intrusion-related Gold Systems, in Goodfellow, W.D., ed, Mineral deposits of Canada: A synthesis of Major Deposit Types, District Metallogeny, the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits Division, Special Publication No. 5, p. 95-112
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
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information 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. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1adb71a6-ce6e-4d22-931f-11390f9342d1
https://www.globenewswire.com/NewsRoom/AttachmentNg/2bb8b517-6432-45e2-8a68-abddde6b6eb6
https://www.globenewswire.com/NewsRoom/AttachmentNg/54363db8-2e65-4732-bcc8-e965cb9deddb
Gladiator Metals: 13.3% Copper Sampled at Arctic Chief Prospect Recent Field Mapping and Rock Chip Results Supports Shallow, High-Grade Historical Drilling Data at the Arctic Chief Prospect
https://www.newsfilecorp.com/release/175416
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2023) - Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) (FSE: ZX7) ("Gladiator" or the "Company"), is pleased to announce an update to its ongoing data compilation of historic drilling and the identification of the largely untested shallow, high-grade, Arctic Chief Prospect, at the historically producing Whitehorse Copper Project.
HISTORICAL DRILL RESULTS - ARCTIC CHIEF PROSPECT:
Historical drill intersections at Arctic Chief external to the previously mined areas includes mineralization that remains open both along strike and at depth, with best results including:
AC-015: 17.1m @ 1.52% Cu from 26.49m
AC-013: 13.35m @ 1.42% Cu from 20.85m
AC-051: 6.79m @ 3.14% Cu Fr 80.47m
AC-035: 6.71m @ 2.24% Cu Fr 29.44m
RECENT MAPPING AND CONFIRMATORY ROCK CHIP RESULTS - ARCTIC CHIEF PROSPECT
Geological continuity of outcropping high-grade copper and gold mineralization in the wider area surrounding Arctic Chief has been established by recent field mapping and rock chip results where mineralization remains open both along strike and at depth at all of the defined prospect areas and include:
13.3% Cu and 5.53g/t Au (H678364 - ~110m Nth of West Pit)
8.05% Cu and 10.1g/t Au (H678301 - ~80m SW of West Pit)
4.69% Cu and 4.46g/t Au (H678374 - ~140m SSE of East Pit)
5.8% Cu and 1.8g/t Au (H678375 - ~130m SSW of East Pit)
Only limited exploration has been completed to date away from identified mineralization in the wider Arctic Chief Prospect area, providing Gladiator with an opportunity to consolidate multiple target areas through ongoing regional mapping, sampling and geophysical programs aimed at further refining drill targets in the area.
Historical drilling completed by the operator was selectively sampled for high-grade copper only. Given the high-grade gold reported in recent rock chipping results (up to 10.10 g/t Au - Sample H678301), Gladiator intends to assay all future drilling and sampling for additional credits including gold, silver and molybdenum which were proven contributors to the economics of historic operations.
Gladiator CEO, Jason Bontempo, commented:
"Gladiator is pleased to have identified another priority work area from its data compilation of historic drilling datasets. Drilling and past production from the Arctic Chief prospect remains shallow and is open in all directions. Excitingly initial field work from Gladiators summer field programs highlights the wider potential of the prospect with high grade copper and gold identified in multiple surface outcrops.
"Field crews are still active in the Whitehorse Copper belt with regional scale mapping, sampling and geophysical programs taking place in the summer months. We look forward to updating the market in the coming months with results from this regional exploration, further data compilation of historic drilling, assays from previously unlogged and unsampled core as well news from Gladiators planned 4,000m diamond drill campaign at Cowley Park."
The Arctic Chief Prospect
Arctic Chief comprises two shallow open cut pits (East & West) that are less than ~40m deep that exploited very high-grade ore near surface ~4km to the NW of the Historic Little Chief Mine & Processing Facility. According to Watson1 (1984), Artic Chief reported production totaling 202,000 tonnes of copper ore grading 1.4% Cu and 1.0 g/t gold". Watson 1984 - "The Whitehorse Copper Belt - A Compilation".
https://data.geology.gov.yk.ca/Reference/42011#InfoTab
Previous successful exploitation of the Arctic Chief prospect was limited in scope and remains shallow (please refer to Figure 1 below for details). Very limited drilling has been undertaken outside of these past producing deposits with mineralization remaining open both along strike and at depth at all of the defined prospect areas.
The Company recently completed collating historic drilling, completed a LIDAR survey and undertaken reconnaissance, prospecting and sampling of outcropping Cu-Au skarn mineralization proximal to the Arctic Chief mining pits.
The recently collated historic drilling (56 holes for 6,819 metres) none of which had been previously reported by the Company, identified significant mineralization that has been exploited by mining and further mineralization that remains unmined and extends along strike from the historic pits. Significant "downhole mineralization" includes:
Unmined Intersections:
AC-015: 17.1m @ 1.52% Cu from 26.49m
AC-013: 13.35m @ 1.42% Cu from 20.85m
AC-051: 6.79m @ 3.14% Cu Fr 80.47m
AC-035: 6.71m @ 2.24% Cu Fr 29.44m
Mined Intersections:
XAC-001 21.33m @ 1.48% Cu from 6.1m
XAC-002: 8.43m @ 2.31% Cu from 37.75m
XAC-004: 30.48m @ 1.83% Cu from 15.24m
AC-002: 21.03m @ 3.95% Cu from 21.34m including 9.75m @ 7.81% Cu from 29.87m
AC-009: 23.17m @ 1.10% Cu from 19.2m
AC-010: 27.09m @ 1.49% Cu from 23.2m including 9.96m @ 3.18% Cu from 40.33m
AC-022: 11.34m @ 2.06% Cu from 35.72m
AC-026: 14.2m @ 1.8% Cu from 22.04m, including 7.62m @ 3.01% Cu from 23.56m
Holes were drilled at various dips on variable, prospect specific, nominal grids. Gladiator obtained the drill records and logs from the Yukon Geological Survey archives and have captured the data within an industry standard database and has been validated.
A complete list of the collated historic drilling noted above, including hole location, azimuth and dip can be accessed at:
https://docs.google.com/spreadsheets/d/1PxqggUeUaR5X0MjNWToGq4S44mVnQ3MjnWPIM4RamlY/edit#gid=1892461326
Figure 1: Plan map of the Arctic Chief Prospect Target Area. Recently collated historical drill results with a cumulative Copper%*m of >40 highlighted. In addition, all recent surface rock chipping completed by Gladiator geologists as part of the summer exploration campaign is shown.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/175416_411e7d57f4797a0f_002full.jpg
In conjunction to the drill data compilation, Gladiator undertook reconnaissance and sampling of outcropping mineralization proximal to the Arctic Chief pits. Sampling identified that significant potential to identify further mineralization remains external to the mined pits, with sampling reporting significant mineralization along strike from the pits, including:
Line of outcropping skarn mineralization over 50m of strike, 110m North (West Pit), that returned:
13.3% Cu and 5.53g/t Au (H678364)
7.01% Cu and 0.8 g/t Au (H678287)
2.03% Cu and 4.3 g/t Au (H678288)
Outcropping skarn mineralization, ~90m South (West Pit) and along strike from hole AC-035 (6.71m at 2.24), that returned:
8.05% Cu and 10.1g/t Au (H678301)
Outcropping skarn mineralization, ~120-150m to the South and SSW (East Pit), along strike from holes AC-013 (13.35m @ 1.42% Cu) and AC-015 (17.1m @ 1.52% Cu), that returned:
4.69% Cu and 4.46g/t Au (H678374)
4.40% Cu and 0.6 g/t Au (H678373) and
5.8% Cu and 1.8 g/t Au (H678375) reported from a mineralized Skarn on the edge of the southern waste dump
Unmined mineralization in or adjacent to the southern pit wall (West Pit), that returned:
1.5% Cu and 1.9 g/t Au (H678302)
0.87% Cu and 1.97 g/t Au (H678303)
A complete list of rock chip sampling by Gladiator Metals, including location and generalized geology can be found at:
https://docs.google.com/spreadsheets/d/1PxqggUeUaR5X0MjNWToGq4S44mVnQ3MjnWPIM4RamlY/edit#gid=788939843
Regional Exploration
Work completed to date has identified more than 30, drill ready, high-grade regional targets associated with copper rich skarns at the contact between the Cretaceous age Whitehorse Plutonic Suite and the Triassic to Jurassic Lewes River Group's clastic and carbonate metasediments. Cumulatively, there is more than 35km of underexplored strike on the contact which is highly prospective for high-grade copper+/-molybdenum+/-silver+/- gold (refer to Figure 2 below).
Figure 2: Plan map of the Whitehorse Copper Project showing geology and location of key prospects within the main trend please refer to Company's news releases dated February 13, 2023 and April 3, 2023 for details.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/175416_411e7d57f4797a0f_003full.jpg
Gladiator's position is enhanced at Whitehorse, with the project having near year-round access for work programs, including an established road and drill access network, low capital infrastructure requirements due to the project's proximity to Whitehorse and a strong partnership with the owners of the Whitehorse Copper Project, an experienced local drilling service provider.
QA / QC and Data Verification
The drill results reported in this news release are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results do not conform to the presently accepted industry standards. Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling. The Company has provided drill results derived form the compilation of historic data relating to prospects which were mined or partially mined by prior operators. The Company is using this data as it attempts to identify trends within the prospect areas. The Company expects to use this data as a guide to plan future exploration and drilling programs.
The historical mineral resources discussed in this press release were calculated using mining industry standard practices for estimating Mineral Resource and Mineral Reserves prior to the implementation of the current CIM standards for mineral resource estimation (as defined by the CIM Definition Standard on Mineral Resources and Mineral Reserves dated May 10, 2014). The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. An independent Qualified Person ('QP'), has not done sufficient work to classify the estimate discussed as current mineral resources or reserves and therefore the estimate should be treated as historical in nature and not current mineral resources or mineral reserves. The historical resources have been included simply to demonstrate the mineral potential of the Whitehorse Copper Project. A thorough review of all historical data performed by a QP, along with additional exploration work to confirm results, would be required in order to produce a current mineral resource estimate for each of the key prospects. For greater certainty, the Company confirms that it does not have a current mineral resource on any part of its Whitehorse Copper Project.
Rock Chip Sampling
Rock chip samples are collected and identified by the Company's Geologists who are undertaking regional mapping and sampling throughout the Company's Tenure. Rock chip samples are selectively taken from observed outcrops, subcrops and float material as determined relevant by the geologist. Samples are geologically logged, recorded with a sampling ticket that matches the submitted sample and located by Handheld GPS (+/- 5m accuracy). The samples are then sent for analysis. Certified Reference Materials (CRMs) or known blank material is placed within the sampling sequence on an ad-hoc basis. All samples were submitted to the ALS Global Laboratory (Canada).
Samples subject to this release were crushed to 70% less than 2mm before pulverizing to better than 85% passing 75 microns. Samples were then analysed by ALS method Au-AA25 (30g Fire Assay - Ore Grade Au with AA finish), ME-ICP61 (33 elements Aqua Regia with ICP-MS finish), with over limits for Cu analysed by method CU-OG62 and Ag by Ag-OG62 (Aqua Regia with ICP-MS finish). As part of this process, Gladiator also captures the required sampling metadata.
Rock Chip Sampling results are relevant as a guide to plan future exploration and drilling programs and are not necessarily representative of mineralization throughout the prospect as they are highly selective by nature. At this point the Company regards the data collected from this exercise as reliable for the purposes of identifying future exploration targets and may be used to inform future drilling and exploration campaigns.
The Whitehorse Copper Project
The Whitehorse Copper Project is an advanced-stage copper (Cu) ± molybdenum (Mo) ± silver (Ag) ± gold (Au) skarn exploration project in the Yukon Territory, Canada. The property comprises 314 contiguous claims covering approximately 5,380 Hectares (13,294 acres) in the Whitehorse Mining District.
Copper mineralization was first discovered in 1897 on the Whitehorse Copper Belt, as it became to be known. The Whitehorse Copper Belt comprised over 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a north westerly trending arc. Exploration and mining development have been carried out intermittently since that time with the main production era lasting between 1967 and 1982 where production totaled 267,500,000 pounds copper, 225,000 ounces of gold and 2,838,000 ounces of silver from 11.1 million tons of mineralized material milled (Watson, 1984).
The Project is accessible through with numerous access roads and trails located within 2 km of the South Klondike Highway and the Alaska Highway. An extensive network of historical gravel exploration and haul roads exists throughout the project area, providing excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid.
In November 2022, Gladiator executed an option agreement to acquire 100% of the Whitehorse Copper Project (the "Option") by incurring exploration expenditures of $12m on the project, staged payment of $300,000 in cash and the staged issue of 15m shares over 6 years. Following the exercise of the Option, the Company must pay the Optionor, or such other person(s) as the Optionor may direct from time to time, a 1.0% net smelter returns royalty on the Whitehorse Copper Project.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, the Company's Vice President Exploration, a "qualified person" as defined by NI 43-101.
ON BEHALF OF THE BOARD
"Jason Bontempo"
Jason Bontempo
President and CEO
For further information contact:
Dustin Zinger, Investor Relations
+1-604-653-9464
dzinger@gladiatormetals.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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain of the statements and information in this news release constitute "forward-looking statements" or "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
Victoria Gold: Eagle Gold Mine Q2 & H1 2023 Operational Highlights
https://ca.finance.yahoo.com/news/victoria-gold-eagle-gold-mine-100000826.html
Victoria Gold Corp
July 5, 2023
WHITEHORSE, Yukon, July 05, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX)
Banyan Demonstrates Mineralization Continuity for Powerline and Aurex Hill for the AurMac Property, Yukon, Canada
https://www.accesswire.com/768919/Banyan-Demonstrates-Mineralization-Continuity-for-Powerline-and-Aurex-Hill-for-the-AurMac-Property-Yukon-Canada
Wednesday, July 19, 2023 6:00 AM
VANCOUVER, BC / ACCESSWIRE / July 19, 2023 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF)
Fireweed Connects Boundary Main and Boundary West with a High-Grade Feeder Zone, intersecting 71.9 m of 6.5 % Zinc 3.1% Lead and 97.8 g/t Silver
https://fireweedmetals.com/news/fireweed-connects-boundary-main-and-boundary-west-with-a-high-grade-feeder-zone-intersecting-71-9-m-of-6-5-zinc-3-1-lead-and-97-8-g-t-silver/
July 26, 2023
Initial results from the first 18 holes of the 2023 program have confirmed the connection between Boundary Main and Boundary West.
These results reveal a continuous mineralized zone of stratiform laminated to massive sulphide in addition to extensive near-surface vein and breccia mineralization.
The Boundary Zone stratiform mineralization has a strike length of over 400 m and has been followed down-dip for at least 350 metres.
This zone is trending to higher grades and greater thicknesses at depth, where it remains open.
NB23-003 intersected 71.89 m of 6.48% zinc, 3.09% lead, 97.8 g/t silver, including 21.96 m of 10.70% zinc, 6.96% lead, and 178.6 g/t silver.
NB23-001 intersected 38.00 m of 9.12% zinc, 1.50% lead, 52.6 g/t silver, including 20.00 m of 15.32% zinc, 2.53% lead, 86.2 g/t silver.
NB23-002 intersected 4.20 m of 18.71% zinc 0.30% lead 47.1 g/t silver.
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF)
Cascadia Samples 3.88% Copper with 30.00 g/t Gold at its Catch Property, Yukon; Drilling to Commence in August
https://www.newswire.ca/news-releases/cascadia-samples-3-88-copper-with-30-00-g-t-gold-at-its-catch-property-yukon-drilling-to-commence-in-august-818894241.html
Cascadia Minerals Ltd. 19 Jul, 2023, 08:00 ET
VANCOUVER, BC, July 19, 2023 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) is pleased to announce prospecting, Induced Polarization ("IP"), Z-Axis Tipper Electromagnetic ("ZTEM") and aeromagnetic survey results from a 2023 Phase 1 exploration program at the Catch Property ("Catch") in Yukon. With these encouraging results, a Phase 2 diamond drilling program at Catch is planned to commence in early August. Exploration is also underway at the Rosy Property in Yukon and will be initiated shortly at the PIL Property in British Columbia.
Catch Phase 1 Highlights
Catch Main Zone (CNW Group/Cascadia Minerals Ltd.)
Catch prospecting returned the highest copper and gold grades on the project to-date, including 3.88% copper with 30.00 g/t gold in outcrop located 180 m north of the 2022 Diorite Zone discovery (Figure 1);
IP surveys at the Diorite Zone returned a 1,000 x 500 x 300 m chargeability high immediately below high-grade surface samples (Figure 4);
Mineralized rock and soil samples in the Main Zone are coincident with a well-developed IP chargeability anomaly extending to more than 300 m in depth (Figure 4);
Outcrop chip sampling at the Diorite Zone returned 12 m of 0.31% copper with 0.17 g/t gold (Figure 3);
Chip sampling at a new discovery 500 m south of the Diorite Zone returned 6 m of 0.12% copper with 0.48 g/t gold (Figure 3);
Prospecting between the Main and Diorite Zones identified a new hydrothermal breccia with results including 0.21% Cu with 4.82 g/t gold (Figure 1); and
Preparation for a Phase 2 maiden diamond drill program at the Catch property is underway, with up to 2,500 m planned to test the drill ready Main and Diorite Zones starting in early August.
"We continue to be very impressed with our exploration success at the Catch project," stated Cascadia's president and CEO, Graham Downs. "Our team continues to make new prospecting discoveries across the recently expanded property, with much of it still awaiting systematic evaluation. With extensive mineralization at surface and co-incident IP response at depth, we've already defined two drill-ready targets and are eager to get the diamond drilling underway. This has all the hallmarks of a significant new district-scale grassroots copper-gold discovery."
In addition to Phase 2 work at Catch, Cascadia is conducting exploration work at its PIL Property in British Columbia, and the Rosy Property in Yukon (Figure 5). Crews have been on site at Rosy for two weeks following up on historical high-grade gold and silver epithermal veins. The planned work program includes prospecting, mapping and soil sampling in underexplored areas. Crews will mobilize to PIL in two weeks for prospecting, mapping and soil sampling to refine drill targeting for the 2024 field season.
Figure 1 – Catch Copper in Soil
Figure 2 – Catch Main Zone
Figure 3 – Catch Diorite Zone
Figure 4 – Catch IP Chargeability 300m Depth Slice
Figure 5 – Catch Property Location
Catch Phase 1 Results
Phase 1 exploration at Catch consisted of prospecting, mapping, and geophysical surveys. A total of 544 rock samples were collected, and 11.1 line-km of IP and 778 line-km of airborne ZTEM geophysical surveys were completed.
Follow up prospecting focused around the Diorite Zone that was discovered at the end of the 2022 field season, (see ATAC Resources Ltd. news release dated January 23, 2023). A 12 m hand trench was dug where a 2022 sample returned 1.45% copper with 0.20 g/t gold. The trench was chip sampled in 1 m intervals and returned an average grade of 0.31% copper with 0.17 g/t gold over 12 m. Mineralization in the trench remains open in both directions and additional copper-gold mineralization was found outside the trench across a 40 x 40 m area (Figure 3).
A new outcrop showing discovered 180 m north of the Diorite Zone hand trench returned numerous high-grade samples, up to 3.88% copper with 30.0 g/t gold (Figure 3). The average grade of 9 rock samples collected from the outcrop was 2.01% copper with 11.23 g/t gold.
Another zone of mineralization was discovered approximately halfway between the Main and Diorite zones (Figure 1), within a 5 km long copper-in-soil anomaly. Rock samples in this area returned results including 2.13% copper in subcrop and 0.21% copper with 4.82 g/t gold in outcrop.
The 2023 IP survey was focused around the Diorite Zone, with results integrated in 3D with 2022 IP conducted at the Main Zone. The 2023 survey returned a 1,000 x 500 x 300 m chargeability high immediately below the high-grade Diorite Zone surface samples (Figure 4). This area lies within a coincident 600 x 550 m magnetic low.
A Phase 2 exploration program including soil sampling and up to 2,500 m of diamond drilling at the Main and Diorite zones is scheduled to commence in early August. This will be the first ever diamond drilling conducted on the Catch Property.
Other 2023 Exploration Plans
In addition to work at the Catch Property, Cascadia will be conducting work at the PIL Property in British Columbia, and the Rosy Property in Yukon. Crews are scheduled to mobilize to the PIL Property in two weeks to begin a prospecting, mapping and soil sampling program. A key focus of this program will be to categorize alteration profiles at the known targets to help vector towards potential porphyries at depth. If results warrant, a deep IP survey will be conducted to assist in targeting for a potential 2024 drill program.
Crews mobilized to the Rosy Property on July 5th for a prospecting and mapping program focused on following up historical high-grade gold-silver epithermal veins. A soil sampling program will be initiated in August at Rosy to improve geochemical coverage of peripheral parts of the property and investigate an underexplored copper-in-soil anomaly. The Rosy work program is being supported by a Yukon Mineral Exploration Program grant from the Yukon Government.
Catch Property Geology and Mineralization
The 71 km2 Catch Property is located in central Yukon, 56 km southeast of the town of Carmacks, in an underexplored part of the Stikine terrane – a key geological terrane which extends from the Golden Triangle in British Columbia into Yukon. It is immediately adjacent to the 1,000+ km long, deep seated, crustal scale strike-slip Teslin-Thibert fault. The Stikine Terrane is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM and Galore Creek deposits and mines.
Catch is mostly underlain by augite phyric basalt of the Semenof Formation, centered on a 7 x 3 km regional magnetic high. Mineralization is associated with propylitic to sericitic alteration of basalt and lesser diorite, intrusion breccias and hydrothermal breccias. Locally there is intense silicification, brecciation and up to 10% disseminated to blebby pyrite, chalcopyrite and trace bornite and pyrrhotite. Secondary copper minerals including malachite, azurite and tenorite are widespread at surface, and coat fracture surfaces, and are often associated with gypsum.
The geology, alteration and mineralization observed throughout Catch are all indicative of a nearby copper-gold ± molybdenum bearing porphyry system.
Catch is under option from a Yukon prospector, and Cascadia can earn up to a 100% interest. For more information, see the Catch Property Technical Report filed on SEDAR at www.sedar.com under the Cascadia Minerals Ltd. profile.
QA/QC
Analytical work for all samples was completed by ALS Canada Ltd., with sample preparation in Whitehorse, Yukon and geochemical analyses in North Vancouver, BC. Samples were fine crushed before a 250-gram split was pulverized to better than 85% passing 75 microns. Rock samples were analyzed for gold by the Au-AA24 procedure which involves fire assay preparation using a 50-gram charge with an atomic absorption spectroscopy finish. Multi-element data for 48 elements was determined for all samples by the ME-MS61 procedure, which involves a four-acid digestion followed by inductively coupled plasma – atomic emission spectrometry ("ICP-AES") and inductively coupled plasma-mass spectrometry.
Overlimit values for gold were determined by the Au-GRA22 procedure which involves fire assay preparation using a 50-gram charge with a gravimetric finish. Overlimit values for copper were determined by the Cu-OG62 procedure which involves a four-acid digestion followed by ICP-AES analysis.
Results referenced in this release represent highlight results only and include samples collected by previous operators in 2022 and earlier years. Below detection values for gold and copper have been encountered in soil and rock samples in these target areas.
The technical information in this news release has been approved by Adam Coulter, M.Sc., P.Geo., VP Exploration for Cascadia and a qualified person for the purposes of National Instrument 43-101.
About Cascadia
Cascadia is a Canadian junior mining company focused on exploring for copper and gold in Yukon and British Columbia. Cascadia's flagship Catch Property is a brand-new grassroots discovery which exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with rock samples returning peak values of 3.88% copper and 30.00 g/t gold. Diamond drilling is planned to commence at Catch in early August. In addition to Catch, Cascadia is conducting exploration work at its PIL Property in British Columbia and the Rosy Property in Yukon, as well as evaluating additional regional opportunities.
On behalf of Cascadia Minerals Ltd.
Graham Downs, President and CEO
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.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to update forward-looking information, except as required by securities laws.
SOURCE Cascadia Minerals Ltd.
For further information: please contact: Andrew Carne, M.Eng., P.Eng., VP Corporate Development, Cascadia Minerals Ltd., T: 604-688-0111 ext. 106, acarne@cascadiaminerals.com
Seabridge Gold Begins Drilling at the 3 Aces Project
https://www.newsfilecorp.com/release/173551
Toronto, Ontario--(Newsfile Corp. - July 18, 2023) - Seabridge Gold (TSX: SEA) (NYSE: SA) announced today that drilling has commenced at its wholly owned 3 Aces project in Canada's Yukon to complete the testing of a comprehensive exploration model. The program is scheduled to complete 7,500 meters of core and reverse circulation drilling in the Central Core Area (CCA) of the 3 Aces project. Initial targets will focus on expanding mineralized zones on the Hearts and Spades targets.
Rudi Fronk, Seabridge Chairman and CEO, commented, "We are looking forward to executing our first full program at 3 Aces. Our team has been refining our new model and checking its concepts against field observations. They believe this model will provide the basis to integrate past and current drill results into meaningful zones of mineralization. We expect this program will help us prioritize mineralized zones and take us steps closer to delineating resources."
Mr. Fronk noted that Seabridge Gold's success as a Company has relied extensively upon reserve and resource expansion at its 100%-owned KSM and Courageous Lake projects. "We are proud of our exploration record and we are now gunning for our next round of exploration successes at our 3 Aces and Iskut projects. The preparatory work has been done. At 3 Aces, we are looking for the continuity that eluded previous operators and which is needed for resource delineation. At Iskut, we are focusing on expansion of the Bronson deposit and the discovery of new copper-gold porphyries hinted at in last year's drilling."
The 3 Aces program plans to test four target zones, Spades, Hearts, Hearts West, and Clubs. In these zones, dilation at the contacts between thick phyllite sequences and coarse interbedded sandstones and conglomerates along second-generation folding event (F2) have consistently shown better gold values. Evaluations of the target areas will include:
The gold mineralization in historical drill holes that has not been pursued down plunge of the F2 folds.
Untested synform-antiform pairs of the F2 folds, identified within the extensive gold-in-soil anomaly of the CCA.
Interaction between structurally prepared rocks of the earlier F1 folding and the mineralizing F2 folds.
3 Aces was acquired by Seabridge in March 2020 as a district scale, orogenic gold project consisting of 1,734 claims covering 357 km² (35,700 ha). The property is in a readily accessible part of southeastern Yukon, on the eastern margin of the Selwyn Basin, a thick package of sedimentary rocks extending across the Yukon and host to several enormous base metal deposits (Howard's Pass District). Hosted in Hyland Group rocks, interbedded clastics and carbonate sediments are exposed near a regional tectonic boundary. A polyphase fold and fault system overprints the stratigraphy, creating ideal traps for gold-bearing fluids expressed as quartz veins. We believe the 3 Aces target is consistent with some of the biggest and richest gold deposits in the world, including the California Mother Lode Belt, Juneau Gold Belt, Muruntau in Uzbekistan, and Obuasi in Ghana.
Seabridge holds a 100% interest in several North American gold projects. Seabridge's assets include the KSM and Iskut projects located in Northwest British Columbia, Canada's "Golden Triangle", the Courageous Lake project located in Canada's Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project set in the Yukon Territory. For a full breakdown of Seabridge's Mineral Reserves and Mineral Resources by category please visit the Company's website at http://www.seabridgegold.com.
Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This document contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as "forward-looking statements" are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, interpretations, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the exploration model providing the basis to integrate past and current drill results into meaningful zones of mineralization; (ii) this program helping us to prioritize mineralized zones and moving us closer to delineating resources; (iii) the exploration program plans to test four target zones, Spades, Hearts, Hearts West, and Clubs; (iv) our belief that the 3 Aces target is consistent with some of the biggest and richest gold deposits in the world, including the California Mother Lode Belt, Juneau Gold Belt, Muruntau in Uzbekistan, and Obuasi in Ghana; and (v) the timing and extent of the work to be performed in work programs in 2023.
All forward-looking statements are based on Seabridge's or its consultants' current beliefs as well as various assumptions made by them and information currently available to them. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Seabridge's plans or expectations include the risk that: (i) the geologic formations at the 3 Aces Project do not conform to the interpretations of data and the geologic models that are the foundations for such forward-looking statements; and (ii) the availability of necessary equipment, supplies and personnel for the work programs, and other risks outlined in statements made by Seabridge from time to time in the filings made by Seabridge with securities regulators. Seabridge disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates assumptions and intentions expressed in such forward-looking statements.
ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and C.E.O.
For further information please contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367-9292 • Fax: (416) 367-2711
Email: info@seabridgegold.com
Gladiator Metals Announces Results of Maiden Drill Program at Cowley Park Copper Prospect
https://www.newsfilecorp.com/release/174608
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2023) - Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) (FSE: ZX7) (
Transition Metals Commences Hyperspectral and LiDAR Surveys on Pike Warden Project in the Yukon, and Mobilizes Field Crew
https://www.newsfilecorp.com/release/174620
Sudbury, Ontario--(Newsfile Corp. - July 24, 2023) - Transition Metals Corp. (TSXV: XTM) ("Transition", "the Company") is pleased to announce the commencement of a comprehensive remote sensing program, comprised of hyperspectral and LiDAR surveys on its Pike Warden project ("the Property") located near Whitehouse, Yukon. In addition, the Company's field crews have mobilized to initiate a program of mapping, sampling, and hand trenching activities on select targeted areas.
The Property covers a substantial land package on the margins of the Bennett Lake Volcanic Complex (BLVC). The Company has characterized 18 identified mineralized zones, which demonstrate the significant potential of a much larger epithermal mineralizing system. Drilling of one of the showings in 2022 returned 21.34m grading 91.43 g/t Ag including 1.52m grading 362 g/t Ag (See Company news release dated January 16, 2023). Transition is committed to leveraging cutting-edge technologies, such as those being used in this remote sensing program, along with a strong foundation of scientific work to fully discover the project's exploration opportunities.
Scott McLean, P.Geo, CEO of Transition Metals, expressed his enthusiasm about the forthcoming field work, saying, "We are progressing the project with the initiation of comprehensive hyperspectral and LiDAR surveys on the Pike Warden project. By utilizing advanced remote sensing technologies, we aim to unlock the full exploration potential of this highly prospective area. Our team is excited to commence field work and begin the process of collecting and analyzing data, which will guide our future exploration efforts."
Remote Sensing Surveys
The Company has engaged PhotoSat, to carry out hyperspectral mapping. PhotoSat utilizes high-resolution multispectral satellite imagery from optical satellites to locate zones of highly altered rocks typically associated with mineralization. The survey is designed to target areas for follow-up ground exploration. This innovative approach will allow Transition's exploration team to focus its exploration programs and help locate and delineate alteration and mineralization zones on the Property.
Simultaneously, a property-wide LiDAR survey, contracted to Pioneer Exploration Consultants Ltd., will employ state-of-the-art light detection and ranging technology to generate precise three-dimensional elevation maps of the project area, inclusive of orthophotography. This high-resolution topographic data will offer invaluable insights into geological structures and potential mineralization patterns across the Pike Warden project. The integration of hyperspectral and LiDAR data will enhance the Company's understanding of the project's geology, enabling more effective and targeted exploration.
Field Work
Transition is deploying a multi-person, 10-day field program on the Property, focused on ground truthing, sampling, and geological mapping of previously unexplored regions of the property. A total of 18 mineralized zones have been identified to date (see news releases dated January 16, 2023, and October 5, 2022) highlighting the importance of groundwork on this Property. The work this year will further characterize the potential polymetallic mineralizing system present at Pike Warden.
About the Pike Warden Property
The Pike Warden property is located approximately 65 kilometers southwest of Whitehorse, Yukon, and is comprised of 185 contiguous mining claims totaling approximately 37 km². The property encompasses a combination of historic and recently discovered high-grade polymetallic gold, copper, and silver epithermal showings that are potentially indicative of a large epithermal-porphyry system in the vicinity of the BLVC. In June 2022, Transition Metals Corp. entered into an option to acquire a 100% interest in the property from the Vendor in exchange for cash shares and work expenditures over a four-year period (please refer to news release dated June 8, 2022).
Qualified Person
The technical elements of this press release have been approved by Mr. Benjamin Williams, P.Geo. (PGO), who is a Qualified Person as defined under National Instrument 43-101.
About Transition Metals Corp.
Transition Metals Corp. (TSXV: XTM) is a Canadian-based, multi-commodity explorer. Its award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder's equity dilution.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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.
Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777
White Gold Commences Maiden RAB Drill Program on Wolf and Toonie Properties, Yukon, Canada
https://finance.yahoo.com/news/white-gold-corp-commences-maiden-110000349.html
White Gold Corp.
Thu, July 20, 2023 at 4:00 AM PDT
Palladium One Receives Class 1 Exploration Permit and Begins Field Exploration Program on Canalask Nickel Project, Yukon, Canada
https://www.newsfilecorp.com/release/172587
Toronto, Ontario--(Newsfile Corp. - July 10, 2023) - Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) (the "Company" or "Palladium One") is pleased to provide an exploration update for the Canalask Nickel - Copper Project, in Yukon, Canada.
Highlights
A Class 1 Exploration Permit has been received.
The 2023 Field exploration program has begun.
A high-resolution ground based Electromagentic ("EM") survey is planned to take place this summer.
Reprocessing and modelling of historical geophysical data is underway.
President and CEO Derrick Weyrauch commented, “The Class 1 Exploration Permit authorizes exploration and associated preparatory work for a 12-month period at the Canalask Project. Canalask hosts a footwall nickel-copper sulphide deposit of unknown origin, thereby suggesting that a larger deposit is present at depth in the adjacent regional-scale ultramafic dyke. Additionally, Canalask hosts untested geophysical targets.
The current field program consists of clearing the older, flat lying lowland access trail and re-establishing pre-existing drill trails for access to the project from the Alaskan Highway located 4-kilometres to the north. Once completed, a ground-based, high resolution EM survey is planned to refine historical geophysical conductors for drill testing.”
Exploration To Date
The Company competed a drone-based magnetometer survey (Figure 1) over the entire Canalask project. This survey consisted of 392-line kilometers at 100-meter spacing and helped refine the location and structure of the Ni-Cu-PGE prospective ultramafic dyke and will greatly assist in the refinement of drill targeting (see press release November, 17, 2022). In addition, a reconnaissance site visit returned grab sample assays over 2% nickel, 6% copper and 1.55 g/t gold. These results support the high grades that were historically reported in footwall-style sulphide mineralization at the Canalask deposit.
Permitting Update
Due to a history of shallow exploration efforts near the Canalask deposit, the project hosts an abundance of historical trails that can be used for access. The Class 1 Exploration Permit allows various exploration activities, including diamond drilling on existing disturbed ground such as access trails and drill trails while no new disturbances are permitted. Additional permit applications to support greater exploration activities remain underway. The Company has made significant progress with regulatory authority engagement as part of a Class III Exploration Permit application. Receipt of a Class III Permit would allow new ground disturbances including the work required to start systematically drill testing the historical electromagnetic (“EM”) targets associated with the ultramafic dyke.
Canalask Property Overview
The Canalask Property is located within the Whitehorse Mining District, approximately 300 kilometers northwest of Whitehorse, Yukon and is accessible from the Alaska Highway near Beaver Creek. The Canalask Property consists of a contiguous block of 179 quartz claims covering approximately 3,400 hectares.
Exploration dates to the 1950s when the Canalask footwall zone was originally discovered, drilled, and partially developed. A historical resource estimate on the Main Zone is quoted at 400,000 tonnes at 1.35% nickel (copper was not reported) by Discovery Mines Ltd. in 1968 (Yukon Assessment Report 094599). Early Metallurgical floatation test work returned concentrate grades as high as 19.7% nickel (Yukon Assessment Report 093256). Exploration continued up to the early 2000s through a series of surface programs including geochemical surveys, geological mapping, and geophysics. During these campaigns, numerous high-grade Ni-Cu-PGE showings such 4.7% Nickel, 0.6% Cu and 6.82 g/t TPM (Total Precious Metals) in grade samples at the Discovery Zone (Yukon Assessment Report 094599), were discovered along the length of the ultramafic-mafic dyke. In 2006, Xstrata completed an assessment Report (Yukon Assessment Report 094599) summarizing this earlier work. Readers are cautioned that the Company has not verified the 1968 Historical Mineral Resource Estimate and therefore the data should not be relied upon.
Geological Setting
The Canalask Property covers the lateral extent of the northwest - southeast striking, steeply dipping "White River Intrusive Complex" (WRIC) which is part of the larger Kluane Mafic-Ultramafic Belt. The Kluane Belt extends from northern British Columbia to east-central Alaska, within the Pennsylvanian to Triassic Wrangellia Terrane volcanics and sediments. The belt is host to numerous nickel-copper +/- platinum-palladium deposits and prospects, most notably the past producing Wellgreen Deposit, now owned by Nickel Creek Platinum Corp., approximately 110 kilometers to the south. The WRIC occurs as a sill-like body of ultramafic and mafic rocks 100 to 150 meters thick and dipping approximately 50 degrees to the southwest. The northern margin of the WRIC represents the basal footwall contact zone while the southern margin delineates the upper hanging wall intrusive contact. The intrusion itself is dominantly composed of peridotite and dunite with a mineralized basal gabbro zone.
Exploration Target
The WRIC is a favourable setting for magmatic nickel-copper sulphide mineralization and is considered a "feeder system" with a high volume of magma flow. As evidenced by the abundance of magmatic Ni-Cu-PGE showings at the base of the WRIC and the discovery of the nickel-rich Canalask footwall deposit, the project hosts strong potential for both "magmatic feeder-type" basal deposits and "epigenetic footwall-type" footwall deposits. The geological setting draws comparison to the world-class Norilsk Ni-Cu-PGE camp.
Figure 1. Canalask Project with recent drone based magnetic survey showing total field and location of site visit grab samples.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/172587_palladium.jpg
*The Company has not attempted to verify the historic mineral resource estimate and therefore readers should not place any reliance on the historical estimate.
**TPM refers to total precious metals Pt+Pd+Au
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.
About Palladium One
Palladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially conscious Critical Green Transportation Metals. A Canadian mineral exploration and development company, Palladium One is targeting district scale, nickel - copper sulphide and platinum-group-element (PGE) deposits in Canada and Finland. The Läntinen Koillismaa (LK) Project in north-central Finland, is a PGE-copper-nickel project that has existing NI43-101 Mineral Resources, while both the Tyko and Canalask high-grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively. Follow Palladium One on LinkedIn, Twitter, and at www.palladiumoneinc.com.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Snowline Gold Intersects 414.5 M Of 1.5 Grams Per Tonne Gold from Surface Including 143.5 M Of 2.9 Grams Per Tonne Gold Extending Near-Surface Well-Mineralized Zone at Valley, Rogue Project, Yukon
https://www.accesswire.com/768586/Snowline-Gold-Intersects-4145-M-Of-15-Grams-Per-Tonne-Gold-from-Surface-Including-1435-M-Of-29-Grams-Per-Tonne-Gold-Extending-Near-Surface-Well-Mineralized-Zone-at-Valley-Rogue-Project-Yukon
Tuesday, July 18, 2023 7:00 AM
Snowline Gold Corp.
https://snowlinegold.com/
White Gold Corp. Commences Diamond Drilling at the Betty Ford target, White Gold District, Yukon, Canada
https://finance.yahoo.com/news/white-gold-corp-commences-diamond-110000646.html
White Gold Corp.
Thu, July 6, 2023 at 4:00 AM PDT
Snowline Gold Intersects 418.3 m of 1.9 grams per tonne gold from Surface Including 216.0 m of 3.1 grams per tonne gold in First Hole of Season at Its Valley Discovery, Rogue Project, Yukon
https://www.accesswire.com/765571/Snowline-Gold-Intersects-4183-m-of-19-grams-per-tonne-gold-from-Surface-Including-2160-m-of-31-grams-per-tonne-gold-in-First-Hole-of-Season-at-Its-Valley-Discovery-Rogue-Project-Yukon
Wednesday, July 5, 2023 7:00 AM
Snowline Gold Corp.
https://snowlinegold.com/
Fireweed to Commence Gold Exploration Program at Macmillan Pass in an Emerging Gold District, Yukon
https://fireweedmetals.com/news/fireweed-to-commence-gold-exploration-program-at-macmillan-pass-in-an-emerging-gold-district-yukon/
July 5, 2023
The Tombstone-Tungsten Gold Belt (TTB) is a Yukon gold district with multi-million-ounce gold and silver deposits and several recent gold discoveries.
Fireweed’s 980 km2 Macmillan Pass and Mactung projects are within the TTB and host not only some of the world’s largest undeveloped resources for zinc and tungsten** but also a geological setting that is prospective for gold mineralization.
Numerous gold targets have been identified using a large database of geochemical and geophysical data collected by Fireweed and by previous owners during exploration that primarily targeted Carlin style gold mineralization.
These targets are prospective for reduced intrusion related gold mineralization which is similar to the type of mineralization found 30 to 90 km away at Snowline Gold’s (TSXV: SGD) recent Valley discovery at their Rogue project.
A three-week field program will systematically explore several anomalous areas with potential for reduced intrusion related gold mineralization.
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF) In conjunction with Fireweed’s largest ever drill program at Macmillan Pass, Fireweed will be conducting reconnaissance prospecting, mapping, and sampling across a series of gold anomalies on the property.
CEO Statement
Brandon Macdonald, CEO, stated “The Macmillan Pass Project is a large and structurally complex package of sedimentary, intrusive, and volcanic sequences which are ideal hosts to precious metals with multiple proven high-grade analogues. We are located within the Selwyn Basin which is home to some of the most exciting precious metals exploration and development projects in western Canada. While Fireweed’s primary focus is a large drill program targeting the impressive zinc, lead, and silver endowment of the property, the potential for significant gold mineralization is too great to remain untested.”
The 980 km2 Macmillan Pass and Mactung projects are located in the prolific Selwyn Basin—host to major precious metal deposits associated with highly prospective Mayo suite intrusions in the Tombstone-Tungsten Belt (TTB), including Brewery Creek, Dublin Gulch, Keno Hill, Fort Knox, and recent gold discoveries adjacent to Macmillan Pass (Maps 1 and 2). The causative intrusion for Fireweed’s Mactung tungsten-copper-gold skarn deposit is a mid-Cretaceous intrusion of the Tombstone-Tungsten Belt and is the largest high-grade tungsten deposit in the world** as demonstrated by Fireweed’s recent Mineral Resource Estimate that includes an estimate of contained by-product gold (see Fireweed News Release dated June 13, 2023). Six different Mayo suite intrusions and several swarms of mid-Cretaceous dykes have been mapped at surface on Fireweed’s claims; in addition, hornfels metasedimentary rock at surface, magnetic anomalies, and geochemical anomalies suggest other intrusions are also present in the near surface.
Planned drilling programs totaling >20,000 m in the Selwyn basin—and within the Tombstone-Tungsten gold belt in particular—have begun a new rush of gold exploration on projects surrounding Fireweed’s claims in 2023. This new wave of gold exploration has been fueled by the new discoveries by Snowline Gold Corp. (TSXV: SGD) of reduced intrusion-related gold mineralization, 30 to 90 km away from Fireweed’s Macmillan Pass Project (Map 3). Previous gold exploration in the eastern Selwyn Basin in 2011-2013 primarily focused on a different mineralization type, Carlin-style gold, following gold discoveries to the northwest by ATAC Resources Ltd. (TSXV: ATC). Approximately $6M of early-stage gold exploration occurred on Fireweed’s Macmillan Pass Project during 2011-2013 by previous owners and datasets gathered during this work, combined with Fireweed’s own data, are being leveraged by the Company to generate targets for gold exploration. The Macmillan Pass Project is the second largest property in the eastern TTB and is located adjacent to the Snowline properties.
A three-week reconnaissance exploration program will be conducted by experienced prospectors and geologists headed by Jodie Gibson, P.Geo., Yukon Prospectors Association’s Prospector of the Year in 2020. The team will conduct prospecting, mapping, and sampling to follow up on prospective areas around intrusions, geochemical soil anomalies, and geophysical signatures indicative of potential gold mineralization. While the primary focus of the 2023 season for Fireweed remains firmly on a ~C$20M drill program focused on step-out drilling of zinc-lead-silver zones at Tom, Jason, and Boundary, this C$250,000 reconnaissance greenfields gold program will serve to systematically test gold anomalies and utilize reduced intrusion-related gold exploration models that were not the prime focus of the previous wave of Carlin-style gold prospecting.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F): Fireweed Metals is a public mineral exploration company on the leading edge of Critical Minerals project development. Fireweed is well-funded, with a significant current cash position and is amidst its largest ever exploration program. The Company has three projects located in Canada:
Macmillan Pass Project (Zinc-Lead-Silver): Fireweed owns 100% of the district-scale 940 km2 Macmillan Pass project in Yukon, Canada, which is host to one of the largest undeveloped zinc resources in the world** where the Tom and Jason zinc-lead-silver deposits have current Mineral Resources1 (21 Mt Indicated Resource at 6.59% zinc, 2.48% lead, and 21.33 g/t silver; and 39.47 Mt Inferred Resource at 5.84% zinc, 3.14% lead, and 38.15 g/t silver) and a Preliminary Economic Assessment2 (PEA). In addition, Boundary Main, Boundary West, Tom North and End Zone have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes large blocks of adjacent claims with known showings and significant upside exploration potential.
Mactung Project (Tungsten): The Company recently acquired 100% interest in the 37.6 km2 Mactung Project located adjacent to the Macmillan Pass Project. Recently announced mineral resources for Mactung (41.5 Mt Indicated Resource at 0.73% WO3 and 12.2 Mt Inferred Resource at 0.59% WO3)* make it the world’s largest high-grade resource of the Critical Mineral tungsten**. Located in Canada, it is one of the rare large tungsten resources outside of China.
Gayna River Project (Zinc-Lead-Gallium-Germanium): Fireweed has 100% of the 128.75 km2 Gayna River project located 180 km north of the Macmillan Pass project. It is host to extensive mineralization including Critical Minerals zinc, gallium and germanium as well as lead and silver, outlined by 28,000 m of historic drilling and significant upside potential.
Qualified Person Statement
Technical information in this news release has been approved by VP Geology, Dr. Jack Milton, P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
Grant of Stock Options
The Company announces that it is granting, pursuant to its stock option plan, stock options exercisable into 100,000 common shares in the Company to certain consultants of the Company. The stock options are exercisable at C$1.11 per share with a five-year term, and 20% will vest on each of the following six-month anniversary dates of the grant, being fully vested after 30 months.
In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market (www.otcmarkets.com) and is DTC eligible for enhanced electronic clearing and settlement. In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.
Additional information about Fireweed and its projects can be found on the Company’s website at FireweedMetals.com and at www.sedar.com.
ON BEHALF OF FIREWEED METALS CORP.
“Brandon Macdonald”
CEO & Director
Contact: Brandon Macdonald
Phone: (604) 646-8361
Email: info@fireweedmetals.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 Statements
Forward Looking Statements
This news release contains “forward-looking” statements and information (“forward-looking statements”). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to future work plans and the potential of the Company’s projects, the creation of a new gold district and similarities to, and the potential of, third party projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. Certain forward-looking statements relate to third parties’ projects and potential thereof and have been sourced from the public disclosure record of such third parties and the Company has not independently verified such statements. The Company assumes no obligation to update forward-looking statements or beliefs, opinions, projections or other factors, except as required by law.
Footnotes and References
*See Fireweed news release dated June 13, 2023 “Fireweed Metals Announces Mineral Resources for the Mactung Project: the Largest High-Grade Tungsten Deposit in the World”. The associated technical report will be available on or before July 28, 2023
** References to relative size and grade of the Mactung resources and Macmillan Pass resources in comparison to other tungsten and zinc deposits elsewhere in the world, respectively, are based on review of the Standard & Poor’s Global Market Intelligence Capital IQ database.
1: Fireweed Technical Report titled “NI 43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory, Canada” filed on www.SEDAR.com on Feb 23, 2018, and Fireweed News Release dated January 10th 2018.
2: Fireweed Technical Report titled “NI 43-101 Technical Report Macmillan Pass Project Yukon Territory Canada” filed on www.SEDAR.com on July 9th 2018, and Fireweed News Release dated May 23rd, 2018. This Technical Report includes a Preliminary Economic Analysis disclosing an economic analysis of mineral resources that is preliminary in nature and does not include any mineral reserves. It is equally emphasized that the mineral resources disclosed within this Technical Report are not mineral reserves and do not have demonstrated economic viability.
Map 1: Macmillan Pass Project and Mactung Project locations and mineral deposits.
Map 2: Tombstone Gold Belt outlining the area of mid-Cretaceous Tombstone-Mayo-Tungsten suite intrusions that are prospective for reduced intrusion related gold systems, with significant gold prospects, deposits or mines highlighted.
Map 3: Summary map of exploration projects within the eastern Tombstone-Tungsten Belt.
SITKA EXPANDS MINERALIZED GOLD CORRIDOR HOSTING THE BLACKJACK AND EIGER GOLD DEPOSITS TO OVER 5 KM AT ITS RC GOLD PROJECT, YUKON
https://ca.finance.yahoo.com/news/sitka-expands-mineralized-gold-corridor-160200308.html
CNW Group
June 26, 2023·15 min read
www.sitkagoldcorp.com
VANCOUVER, BC, June 26, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF
Fireweed Drills Wide Step-Out Intersection of Massive Sulphides at Boundary Zone and Starts Up Second Drill Rig
https://ca.finance.yahoo.com/news/fireweed-drills-wide-step-intersection-123000943.html
Fireweed Metals Corp.
Thu, June 22, 2023 at 5:30 a.m. PDT·11 min read
Macmillan Pass Project and Mactung Project
Map 1: Macmillan Pass Project and Mactung Project locations.
Location of 2023 Phase 1 planned drillholes
Map 2: Location of 2023 Phase 1 planned drillholes, cross section H–H’, J–J’ and long section I–I’.
Phase 1
Long Section I–I’ - Phase 1 of 2023 drill program showing a wide intersection of massive sulphide within a previously untested potential feeder zone target between Boundary West and Boundary Main.
Boundary Zone Cross Section H–H’
Cross Section H–H’—Location of the first hole of the season, NB23-001, stepping out from the high-grade new stratiform zone in the footwall of the Boundary Main Fault, high-grade vein and breccia mineralization above the Boundary Main Fault, and volcaniclastic-hosted mineralization at depth.
Boundary Zone Cross Section J-J’
Cross Section J-J’ Wide intersection of massive sulphides steps-out the stratiform mineralized zone down-dip. Preliminary interpretation of the approximate shape of the stratiform mineralized zone shown in purple.
A 73 m wide interval of massive sulphide zinc-lead mineralization has been intersected at Boundary Zone and is open along-strike and at depth, validating the feeder zone target, with plans for step-out holes in the interpreted direction towards the feeder.
All three of the first drillholes at Boundary Zone have hit zinc-lead mineralization.
Results indicate that the Boundary West and Boundary Main zones may be connected parts of a single mineralized system.
The second of five drill rigs is now at site and has started drilling at the Tom deposit.
Drilling will target step-out holes at Tom, Jason, and Boundary Zone.
VANCOUVER, British Columbia, June 22, 2023 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF) is pleased to provide an update of its 2023 exploration program. The first three drillholes have tested an area between the Boundary Main and Boundary West zones and have intersected significant zinc-lead mineralization. The Company is currently completing a 1,900 m Phase 1 drill program and plans to continue with an additional 14,000 m or more of drilling across multiple step-outs and targets in 2023.
CEO Statement
Brandon Macdonald, CEO, stated “The season is off to a thrilling start, with a broad intersection of massive sulphides in a step-out hole at Boundary Zone as part of the first test of our feeder zone target. We are very excited that we have hit zinc-lead mineralization in all our first three holes at Boundary Zone, stepping out from our discoveries in 2022. Progress has gone well on the 2023 exploration campaign with the first rig making very good production and we have capitalized on the relatively early snowmelt to mobilize a second rig ahead of schedule. The imminent completion of our new 48-person, all-weather camp will facilitate exploration in 2023 and beyond.”
2023 Diamond Drill Program Update
The 2023 program will utilize five diamond drill-rigs, targeting over 16,000 m of drilling between Boundary, Tom, and Jason zones (Map 1). Phase 1 of drilling is currently underway with >1,400 m completed of a planned 1,900 m. Phase 2 will comprise an additional ~14,000 m and both phases focus on step-out holes around known zones of zinc-lead-silver mineralization.
Drilling Update
The initial phase of the 2023 drilling program targets a gap in the drilling between two of Fireweed’s best-ever drillholes at Boundary Zone, NB22-002 and NB22-023, where Fireweed sees the potential for a high-grade feeder zone target that could link Boundary West and Boundary Main. These 2022 holes intersected very wide, high-grade zones and flank either side of the target being tested in Phase 1: NB22-023 intersected 298 m of 4.5% zinc, 1.4% lead, and 30.9 g/t silver including a new stratiform zone of 9.6 m grading 24.5% zinc, 15.1% lead, and 323.2 g/t silver; and hole NB22-002 intersected 124 m at 12.3% zinc, 1.3% lead, 45.9 g/t silver (see Fireweed news releases dated November 22, 2022, and March 2, 2023).
The 2023 step-outs completed so far have successfully intersected sphalerite and galena mineralization as stratiform massive sulphides, replacement mineralization, veins, and breccias. Hole NB23-003 intersected 73 m of massive sulphide that is interpreted to be the first intersection of the conceptual feeder zone target. The remaining holes of the Phase 1 program will continue drill testing of the mineralized layers as well as the potential feeder area that may link Boundary Main and Boundary West (Long Section I–I’, Cross Section H–H’, Cross Section J–J’ and Map 2).
Sphalerite and galena have been identified visually by experienced core logging geologists, and licenced professional geoscientists. No absolute visual estimates of mineral abundances or inferences of potential zinc or lead grades have been stated in this news release.
NB23-001
NB23-001 was drilled as a step-out from NB22-023 following up high-grade zinc intercepts in stratiform, breccia, and vein hosted mineralization (e.g. NB22-023 hit 9.6 m at 24.5% zinc, 15.1% lead, and 323.2 g/t silver, see Fireweed news release dated March 2, 2023). Hole NB23-001 successfully intersected sphalerite-galena mineralization over comparable widths, approximately 30 m down-dip, and in the same stratigraphic layer as the new stratiform zone intersected in NB22-023 and NB22-022, providing a step-out and increasing confidence in the continuity of the new stratiform zone at Boundary Main. The hole was extended 70 m past target depth due to additional intersections of sphalerite veins and pyrite-sphalerite massive sulphide mineralization downhole, and the hole was terminated at 460 m. See cross-section H–H’ for more details.
NB23-002
NB23-002 is the first hole drilled into the gap between Boundary Main and Boundary West, exploring the conceptual feeder zone target that may link the two zones. The hole intersected mineralized conglomerate between 50 m to 65 m. Stratiform pyrite-sphalerite mineralization from 226 to 230 m abuts a fault and is interpreted as a fault-bounded sliver between the Boundary Main fault and the Ramp fault. This stratiform mineralization is an approximately 90 m step-out along strike from high grade intersections in NB22-022 and NB22-023. This intersection provides an additional vector towards the potential feeder zone.
NB23-003
Drilled down-dip from NB23-002 following the successful intersection of faulted stratiform mineralization, NB23-003 intercepted mineralized conglomerate comparable to NB23-002 from 61 to 68 m. A 73 m wide interval of massive stratiform sulphides containing pyrite, galena, and sphalerite were intersected from 211 to 284 m. Intervals within this intercept contain a higher visually-estimated abundance of galena than sphalerite, a characteristic that is thought to be generally indicative of mineralization around or within a feeder zone. This broad intersection of lead-rich massive sulphide provides an initial indication that the proposed feeder zone may link the stratiform mineralization at Boundary West and Boundary Main. The true thickness of this wide intersection is not currently known due to the early-stage of the drilling. This massive sulphide intersection is open along strike and at depth, towards the interpreted direction of a potential feeder zone.
Drill Operations Update
Drill penetration rates in the initial three holes was more than 50% faster than historical performance. The region experienced an early snowmelt this year, allowing a second rig to be mobilized weeks earlier than planned, and coring commenced June 18th. Three additional drills are being mobilized by truck this week, bringing the total to five rigs as planned. Drilling will target significant step-outs at Tom, Jason, Boundary Zone and beyond.
Camp Expansion Update
Camp is operating smoothly with nearly 50 people on site. Construction is progressing well at the new 48-person camp expansion, with commissioning and first occupants planned for month end.
Together with the existing camp, the new all-weather camp will allow us to support around 100 people on site to complete the 2023 season objectives. This work is an important step to build out Macmillan Pass camp capacity to the approved capacity of 150 people, allowing for both larger drill programs and simultaneous environmental baseline studies and occupancy during colder months.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F): Fireweed Metals is a public mineral exploration company on the leading edge of Critical Minerals project development. Fireweed is well-funded, with a current cash position of over C$30,000,000 and is well-positioned to carry out the large 2023 exploration program. The Company has three projects located in Canada:
Macmillan Pass Project (Zinc-Lead-Silver): Fireweed owns 100% of the district-scale 940 km2 Macmillan Pass project in Yukon, Canada, which is host to one of the largest undeveloped zinc resources in the world** where the Tom and Jason zinc-lead-silver deposits have current Mineral Resources1 (11.21 Mt Indicated Resource at 6.59% zinc, 2.48% lead, and 21.33 g/t silver; and 39.47 Mt Inferred Resource at 5.84% zinc, 3.14% lead, and 38.15 g/t silver) and a Preliminary Economic Assessment2 (PEA). In addition, Boundary Main, Boundary West, Tom North and End Zone have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes large blocks of adjacent claims with known showings and significant upside exploration potential.
Mactung Project (Tungsten): The Company recently acquired 100% interest in the 37.6 km2 Mactung Project located adjacent to the Macmillan Pass Project. Recently announced mineral resources for Mactung (41.5 Mt Indicated Resource at 0.73% WO3 and 12.2 Mt Inferred Resource at 0.59% WO3)* make it the world’s largest high-grade resource of the Critical Mineral tungsten**. Located in Canada, it is one of the rare large tungsten resources outside of China.
Gayna River Project (Zinc-Lead-Gallium-Germanium): Fireweed has 100% of the 128.75 km2 Gayna River project located 180 km north of the Macmillan Pass project. It is host to extensive mineralization including Critical Minerals zinc, gallium and germanium as well as lead and silver, outlined by 28,000 m of historic drilling and significant upside potential.
Qualified Person Statement
Technical information in this news release has been approved by VP Geology, Dr. Jack Milton, P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market (www.otcmarkets.com) and is DTC eligible for enhanced electronic clearing and settlement. In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.
Additional information about Fireweed and its projects can be found on the Company’s website at FireweedMetals.com and at www.sedar.com.
ON BEHALF OF FIREWEED METALS CORP.
“Brandon Macdonald”
CEO & Director
Contact: Brandon Macdonald
Phone: (604) 646-8361
Email: info@fireweedmetals.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 Statements
Forward Looking Statements
This news release contains “forward-looking” statements and information (“forward-looking statements”). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to interpretation of drill results and projections of mineralization, future work plans, the use of funds, and the potential of the Company’s projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects”, "anticipates”, "believes”, "intends”, "estimates”, "potential”, "possible”, and similar expressions, or statements that events, conditions, or results "will”, "may”, "could”, or "should” occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. The Company assumes no obligation to update forward-looking statements or beliefs, opinions, projections or other factors, except as required by law.
Footnotes and References
*See Fireweed news release dated June 13, 2023 “Fireweed Metals Announces Mineral Resources for the Mactung Project: the Largest High-Grade Tungsten Deposit in the World”. The associated technical report will be filed on www.SEDAR.com on or before July 28, 2023
** References to relative size and grade of the Mactung resources and Macmillan Pass resources in comparison to other tungsten and zinc deposits elsewhere in the world, respectively, are based on review of the Standard & Poor’s Global Market Intelligence Capital IQ database.
1: Fireweed Technical Report titled “NI 43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory, Canada” filed on www.SEDAR.com on Feb 23, 2018, and Fireweed News Release dated January 10th 2018.
2: Fireweed Technical Report titled “NI 43-101 Technical Report Macmillan Pass Project Yukon Territory Canada” filed on www.SEDAR.com on July 9th 2018, and Fireweed News Release dated May 23rd, 2018. This Technical Report includes a Preliminary Economic Analysis disclosing an economic analysis of mineral resources that is preliminary in nature and does not include any mineral reserves. It is equally emphasized that the mineral resources disclosed within this Technical Report are not mineral reserves and do not have demonstrated economic viability.
230622 FWZ 1
Map 1: Macmillan Pass Project and Mactung Project locations.
230622 FWZ 2
Map 2: Location of 2023 Phase 1 planned drillholes, cross section H–H’, J–J’ and long section I–I’.
230622 FWZ 3
Long Section I–I’ - Phase 1 of 2023 drill program showing a wide intersection of massive sulphide within a previously untested potential feeder zone target between Boundary West and Boundary Main.
230622 FWZ 4
Cross Section H–H’—Location of the first hole of the season, NB23-001, stepping out from the high-grade new stratiform zone in the footwall of the Boundary Main Fault, high-grade vein and breccia mineralization above the Boundary Main Fault, and volcaniclastic-hosted mineralization at depth.
230622 FWZ 5
Cross Section J-J’ Wide intersection of massive sulphides steps-out the stratiform mineralized zone down-dip. Preliminary interpretation of the approximate shape of the stratiform mineralized zone shown in purple.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/e8263992-74b3-4756-b158-5e2d2dd7805e
https://www.globenewswire.com/NewsRoom/AttachmentNg/a7844cfb-58ed-459b-8636-ef62473725f7
https://www.globenewswire.com/NewsRoom/AttachmentNg/a1d86ed0-a19f-49a0-a765-9d5ab8771d50
https://www.globenewswire.com/NewsRoom/AttachmentNg/20dd5292-bfc9-4989-9a7a-46cf34ba5e17
https://www.globenewswire.com/NewsRoom/AttachmentNg/9d903445-4bd8-4c80-af6e-89bb1e5effef
SITKA DRILLS 422.7 METRES OF 0.74 G/T GOLD, INCLUDING 111.7 METRES OF 1.24 G/T GOLD AT ITS RC GOLD PROJECT, YUKON
https://www.newswire.ca/news-releases/sitka-drills-422-7-metres-of-0-74-g-t-gold-including-111-7-metres-of-1-24-g-t-gold-at-its-rc-gold-project-yukon-834943562.html
CNW Group
Wed, June 21, 2023 at 5:30 a.m. PDT·15 min read
VANCOUVER, BC, June 21, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG)
White Gold Announces Commencement of Diamond Drilling at the Vertigo target on the JP Ross Property, White Gold District, Yukon, Canada
https://ca.finance.yahoo.com/news/white-gold-corp-announces-commencement-110000066.html
White Gold Corp.
Wed, June 21, 2023 at 4:00 a.m. PDT
Fireweed Announces Near-Term Plans for Mactung Tungsten Project
https://ca.finance.yahoo.com/news/fireweed-announces-near-term-plans-123000940.html
Fireweed Metals Corp.
Tue, June 20, 2023 at 5:30 a.m. PDT·6 min read
Macmillan Pass Project and Mactung Project
Map 1: Macmillan Pass Project and Mactung Project locations
Initiating a Preliminary Economic Assessment (PEA) to validate Project economics and evaluate opportunities to add value.
Conducting metallurgical test program to validate and optimize tungsten recovery and assess the recoveries of by-products gold and copper.
An environmental and socioeconomic assessment for the Project was completed in 2014, allowing for licensing processes to proceed.
Planning additional environmental studies and field investigation programs in 2023 to bolster understanding of key project components.
VANCOUVER, British Columbia, June 20, 2023 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF) is pleased to provide an update on the near-term plans for the Mactung Project, following release of the Resource Estimate that establishes Mactung as the world’s largest, high-grade tungsten deposit** (see news release dated June 13, 2023*).
CEO Statement
Brandon Macdonald, CEO, stated “Fireweed’s recent Resource Statement on Mactung has reaffirmed the project’s status as one of the world’s preeminent tungsten development stories. Building on that resource our team now looks to advance the project to construction readiness through modern metallurgical studies, value engineering, and by working with Indigenous groups through the regulatory processes. This coming year will establish Mactung as not just a great resource but also a credible near-term supplier for the critical mineral tungsten.”
Preliminary Economic Assessment
The upcoming Preliminary Economic Assessment (PEA) will establish preliminary project economics using current pricing and cost data, modern estimation, metallurgical, and engineering methodologies, and will consider other opportunities for project optimization. The PEA will build on work commissioned by North American Tungsten Corporation (NATC) in their 2009 Feasibility Study. The new study is planned to kick-off this quarter and conclude prior to the end of the year.
Metallurgical Test Program
In 2022 and early 2023, Fireweed conducted a comprehensive resampling and re-assaying program on historic drill core, which has provided a larger geochemical dataset to assist with lithogeochemical domaining and achieving representative sample variability throughout the deposit.
Fireweed recently initiated a metallurgical test program with Base Metallurgical Laboratories Ltd. to confirm results from earlier work by previous owners (NATC), optimize the flowsheet and evaluate the potential recoverability and payability of gold and copper. Preliminary tailings test work will also be included in this work. Results from this program are expected in Q4 2023.
Assessment and Regulatory Processes
The Yukon Environmental and Socio-economic Assessment Board issued a positive screening report for the Mactung Project in mid-2014 and recommended it proceed without review, subject to terms and conditions. The federal and Yukon governments subsequently varied certain terms and conditions, as documented in each respective Decision Document, which provided direction to advance license applications.
Fireweed intends to complete field programs this summer at Mactung to strengthen the environmental database and confirm distribution of discontinuous permafrost to validate geochemical analysis of ore and waste, and to identify and qualify borrow material for construction. The results of these programs will inform collaborative working groups discussions with Indigenous groups to allow Fireweed to develop robust applications and management plans to mitigate any potential effects arising from future potential project development.
Grant of Options
The Company announces that it is granting, pursuant to it’s stock option plan, stock options exercisable into 4,544,000 common shares in the Company to certain directors, officers, employees, and consultants of the Company. The stock options are exercisable at C$1.01 per share with a five-year term, and 20% will vest on each of the following six-month anniversary dates of the grant, being fully vested after 30 months.
Qualified Person Statement
Technical information in this news release has been approved by Fireweed Metals Vice President, Studies, Kelly Bateman, P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F): Fireweed Metals is a public mineral exploration company on the leading edge of Critical Minerals project development. Fireweed is well-funded, with a current cash position of over C$30,000,000 and is well-positioned to carry out the large 2023 exploration program. The Company has three projects located in Canada:
Macmillan Pass Project (Zinc-Lead-Silver): Fireweed owns 100% of the district-scale 940 km2 Macmillan Pass project in Yukon, Canada, which is host to one of the largest undeveloped zinc resources in the world* where the Tom and Jason zinc-lead-silver deposits have current Mineral Resources1 (11.21 Mt Indicated Resource at 6.59% zinc, 2.48% lead, and 21.33 g/t silver; and 39.47 Mt Inferred Resource at 5.84% zinc, 3.14% lead, and 38.15 g/t silver) and a Preliminary Economic Assessment2 (PEA). In addition, Boundary Main, Boundary West, Tom North and End Zone have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes large blocks of adjacent claims with known showings and significant upside exploration potential.
Mactung Project (Tungsten): The Company recently acquired 100% interest in the 37.6 km2 Mactung Project located adjacent to the Macmillan Pass Project. Recently announced new mineral resources for Mactung (41.5 Mt Indicated Resource at 0.73% WO3 and 12.2 Mt Inferred Resource at 0.59% WO3)* make it one of the largest and highest-grade undeveloped resources in the world of the Critical Mineral tungsten**. Located in Canada, it is one of the rare large tungsten resources outside of China.
Gayna River Project (Zinc-Lead-Gallium-Germanium): Fireweed has 100% of the 128.75 km2 Gayna River project located 180 km north of the Macmillan Pass project. It is host to extensive mineralization including Critical Minerals zinc, gallium and germanium as well as lead and silver, outlined by 28,000 m of historic drilling and significant upside potential.
Additional information about Fireweed and its projects can be found on the Company’s website at FireweedMetals.com and at www.sedar.com.
ON BEHALF OF FIREWEED METALS CORP.
“Brandon Macdonald”
CEO & Director
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 Statements
Forward Looking Statements
This news release contains “forward-looking” statements and information (“forward-looking statements”). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to mineral resource estimates based on interpretation of drill results, upside exploration potential, future work plans, the use of funds, and the potential of the Company’s projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects”, "anticipates”, "believes”, "intends”, "estimates”, "potential”, "possible”, and similar expressions, or statements that events, conditions, or results "will”, "may”, "could”, or "should” occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. The Company assumes no obligation to update forward-looking statements or beliefs, opinions, projections or other factors, except as required by law.
Footnotes and References
*See Fireweed news release dated June 13, 2023 “Fireweed Metals Announces Mineral Resources for the Mactung Project: the Largest High-Grade Tungsten Deposit in the World”. The associated technical report will be filed on www.SEDAR.com available on or before July 28, 2023.
** References to relative size and grade of the Mactung resources and Macmillan Pass resources in comparison to other tungsten and zinc deposits elsewhere in the world, respectively, are based on review of the Standard & Poor’s Global Market Intelligence Capital IQ database.
1: Fireweed Technical Report titled “NI 43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory, Canada” filed on www.SEDAR.com on February 23, 2018, and Fireweed News Release dated January 10, 2018.
2: Fireweed Technical Report titled “NI 43-101 Technical Report Macmillan Pass Project Yukon Territory Canada” filed on www.SEDAR.com on July 9, 2018, and Fireweed News Release dated May 23, 2018. This Technical Report contains a Preliminary Economic Analysis disclosing an economic analysis of mineral resources that is preliminary in nature and does not include any mineral reserves. It is equally emphasized that the mineral resources disclosed within this Technical Report are not mineral reserves and do not have demonstrated economic viability.
Contact:
Brandon Macdonald
Phone: (604) 646-8361
Email: info@fireweedmetals.com
230620 FWZ Image 1
Map 1: Macmillan Pass Project and Mactung Project locations.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87618a82-6242-45cc-94c5-7b46a7e202ea
White Gold Announces Fully Funded 2023 Exploration Program on District Scale Land Package, Yukon, Canada
https://ca.finance.yahoo.com/news/white-gold-corp-announces-fully-115200767.html
White Gold Corp.
Thu, June 15, 2023 at 4:52 a.m. PDT
Vertigo Target (JP Ross Property)
Vertigo Target (JP Ross Property)
Cali Target (Nolan Property)
Cali Target (Nolan Property)
WGO 2023 Exploration Program Overview
WGO 2023 Exploration Program Overview
Betty Ford Target (Betty Property)
Betty Ford Target (Betty Property)
TORONTO, June 15, 2023 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased to announce plans for its fully funded 2023 exploration program on its district scale 350,000 hectare land package, representing over 40% of the emerging White Gold District in Yukon, Canada. The 2023 program is designed to further evaluate targets on the Betty and JP Ross properties and to perform maiden diamond drilling on the Cali target located on the Nolan property. Other regional exploration work includes maiden rotary air blast (RAB) drilling on the Wolf and Toonie properties and a significant early-stage exploration program to identify and advance other targets on the Company’s extensive and under explored land package in which the Company has made several high grade gold discoveries in addition to significantly increasing resources at the Company’s flagship White Gold Project which comprises 16 million tonnes averaging 2.23 g/t Au for 1,152,900 ounces of gold in the Indicated Resource category and 19 million tonnes averaging 1.54 g/t Au for 942,400 ounces of gold in the Inferred Resource category (1) and remains open for expansion.
A district scale map outlining the Company’s planned 2023 exploration work areas (Figure 1) and target-specific maps (Figures 2-4) accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
“We are excited to kick off our 2023 exploration programs in the White Gold District,” stated Terry Brace, the Company’s Vice President of Exploration. “Diamond drilling at Betty Ford is primarily designed to test the mineralized system at depth, essentially looking for evidence of an underlying porphyry as well as trying to identify the feeder to gold mineralization that occurs near surface. We have also reviewed the existing structural information at Vertigo including borehole optical televiewer data and vein measurements recorded in trenches and feel this year’s drill orientation will more effectively test the multiple mineralized vein sets at Vertigo. The planned diamond drill holes at the Cali target are widely spaced holes designed to test this 2 km long gold and multi-element soil geochemical anomaly which occurs along a major regional structure, so we really like the apparent size and geological setting of Cali.”
“We expect 2023 to be another exciting year for White Gold as we build on the success of our recent field seasons where we have made a very significant new high-grade gold discovery on our Betty property and continued to expand the large footprint of mineralization at our flagship White Gold Project and significantly increasing resources. These results further demonstrate the expansiveness of gold mineralization in the White Gold District and the potential for continuing to make additional new discoveries as well as increase our significant gold resources. We have designed a very impactful program to further diamond drill test these recent high-grade gold discoveries, perform maiden diamond drilling on the Cali target as well as advance other high-priority targets across our expansive and underexplored land package. Extensive review and analysis performed in the off-season has also provided insightful new interpretations on several projects which we are excited to integrate into our methodical exploration methodologies,” stated David D’Onofrio, Chief Executive Officer
Highlights:
Exploration diamond drilling totalling 3,200m planned on three targets – Betty Ford, Vertigo and Cali.
Betty Ford – Testing for porphyry at depth beneath the mineralized breccia, plus potential feeder contact/structure identified through VLF-EM ground geophysics. Recent drilling at Betty Ford intersected 3.46 g/t Au over 50.0m in hole BETFD21D003 and 8.94 g/t gold over 18.29m in hole BETFD22RC004.
Vertigo – First drilling since 2019 with program designed to test a new structural interpretation which includes multiple mineralized vein sets not previously drill tested. 2018 and 2019 drilling highlights at the Vertigo include 23.44 g/t Au over 24.38 m, 12.25 g/t Au over 15.24 m, 9.46 g/t Au over 22.86 m, and 11.64 g/t Au over 5.34 m.
Cali – Maiden diamond drilling with widely spaced holes testing large (2 km long) gold and multi-element soil anomaly located along the regional Sixtymile-Pika Fault.
Maiden RAB drill programs totalling 800 m to test gold targets on the Wolf and Toonie properties.
Induced Polarization – Resistivity ground geophysical surveys over the large early-stage Bridget and Hayes Copper-Molybdenum porphyry targets located on the Pedlar and Hayes properties in close proximity to the large Casino porphyry deposit.
Regional exploration on other properties includes geological mapping and prosecting, soil geochemistry surveys, and ground magnetics and VLF-EM surveys to generate new targets for future drill testing.
Additional detail on the various components of the program to be released in due course.
A corporate update webinar has been arranged for management to present additional detail on the Company’s fully funded 2023 exploration program. Event and registration details to be provided.
Betty Ford Target
The Betty property is contiguous to and located approximately 40 km east of Newmont Corporation’s (NYSE: NEM, TSX: NGT) Coffee gold deposit (Indicated Resources of 2.14 Moz gold and Inferred Resources of 0.23 Moz gold(2)) and 15 km northeast of Western Copper and Gold Corporation’s (TSX: WRN, NYSE: WRN) Casino porphyry deposit (Measured & Indicated Resources of 14.8 Moz gold & 7.6 Blbs copper and Inferred Resources of 6.3 Moz gold and 3.1 Blb copper(3)). The Betty Ford target is located at the centre of the Betty property on the eastern extension of the Coffee Creek Fault, which hosts the Coffee deposit. The target, which forms an approximately 1 km long east-west trending gold-in-soil anomaly with gold values ranging from trace up to 1,961 ppb Au, was initially RAB drill tested by the Company in 2018. RAB results were encouraging with hole BETFRDRAB-002 intersecting near surface gold mineralization averaging 1.08 g/t Au over 50.29 m from 4.57 m depth. During 2021 and 2022, the Company drilled 11 diamond drill holes totalling 2,297 m and 2 RC holes totalling 201 m to further test the target along an approximately 250 m strike length. This drilling has continued to intersect a broad zone of near-surface high grade gold mineralization within a polylithic breccia host unit that returned 3.46 g/t Au over 50.0 m in hole BETFD21D003, 1.17 g/t Au over 48.0 m in hole BETF21D001, 1.50 g/t Au over 55.2 m in hole BETFD22D007, and 8.94 g/t Au over 18.29 m in BETFD22RC004.
The planned 2023 diamond drilling program on the Betty Ford target comprises 4 holes totalling 1,200 m that are designed to test: 1) the presence of a mineralized buried porphyry at depth beneath the polylithic breccia unit; 2) a possible feeder contact/structure identified from VLF-EM surveying; 3) a strong gold-in-soil anomaly in the area of a gully and interpreted fault structure; and 4) controls on higher grade gold mineralization such as that intersected in hole BETFD22RC004.
Vertigo Target
The road accessible Vertigo target is located on the JP Ross property approximately 80 km south of Dawson City. Gold and silver mineralization at Vertigo is associated with quartz veining, brecciation and strong quartz-sericite altered structures containing disseminated to locally massive arsenopyrite, galena and pyrite, and locally fine-grained visible gold within a felsic gneiss host unit. Vuggy textures and iron oxides after pyrite, as well as an interpreted early phase of potassic alteration, are common.
Initial diamond drilling at Vertigo was carried out by Kinross in 2010 with the completion of 4 holes totalling 521.7 m. During 2018 and 2019, the Company carried out RAB (25 holes, 1,448.9 m) and reverse circulation (“RC”) drilling (36 holes, 2,551.3m), and in 2019 completed 46 diamond drill holes totalling 9,568.5 m. The 2018 RAB and RC holes drilled to the south (180° azimuth) and north (360° azimuth), whereas 2019 RAB, RC and diamond drill holes drilled to the north-northeast (020° azimuth) to test the interpreted primary west-northwest striking and south dipping mineralized structures. Although drilling produced some very encouraging results (e.g. 23.44 g/t Au and 144.75 g/t Ag over 24.38 m in hole JPRVERRAB18-014, 9.46 g/t Au and 36.68 g/t Ag over 22.86m in hole JPRVERRC18-006, and 11.64 g/t Au and 32 g/t Ag over 5.34m in hole JPRVER19D0015 – see Company News Releases dated Dec. 06, 2018 and Aug. 08, 2019), the lateral and vertical extent of the mineralized structures appeared discontinuous.
However, the Company has recently reviewed and interpreted available borehole optical televiewer and trench structural data. This analysis indicates that there are 3 mineralized vein sets at Vertigo: 1) the primary WNW striking vein set which has been the focus of previous drilling; 2) a north-northeast (022°) striking secondary vein set which dips steeply to both the west and east; and 3) a set of narrow (up to 10-15 cm) sheeted quartz veins that strike east-northeast (070°) and dip moderately at 55° north. These latter quartz veins were exposed during mechanical trenching during the 2019 field season, and vein samples returned encouraging gold assays in the range of 1.5 g/t Au to 17.3 g/t Au. The 2019 diamond drill holes were largely blind to this vein set due to the orientation of drilling.
The planned 2023 diamond drill program at Vertigo comprises 5 holes totalling 1,100 m that will test the mineralized zone near the historical trenching, as well as adjacent gold-in-soil anomalies located 250-300 m to the east-northeast, southwest and south. All holes will be collared at a dip of -50° and drill at an azimuth of 155° (south-southeast). This drill orientation is designed to intersect all 3 vein sets noted above and test the potential for bulk tonnage gold mineralization.
Cali Target
The Cali target is located in the northern part of the Nolan property which covers a large area measuring some 30 km north-south by up to 22 km east-west. The northern portion of the property north of the Sixty Mile River is accessible from the Top of the World Highway which extends westwards from Dawson City to Alaska, and local placer mining roads and trails. The Cali target forms a large 250 m x 2 km long northeast-trending multi-element (Au-As-Sb-Bi-Cu-Pb-Zn) soil anomaly, including maximum values of 515 ppb Au, 1436 ppm As, 2184 ppm Cu, 1225 ppm Pb and 2670 ppm Zn. The strongest base metal values appear to occur in sub-zones within the larger anomaly, which remains open along strike particularly to the southwest. The soil anomaly is located over footwall orthogneisses on the south side of the Sixtymile-Pika Fault, and mineralization does not appear to extend into the hanging wall metaquartzites. In 2017 the Company drilled 22 short (< 100 m) RAB holes on the Cali target, with several holes intersecting anomalous gold, silver and copper warranting follow up exploration.
The planned maiden 2023 diamond drilling program on the Cali target comprises 3 holes totalling 900 m. Each planned hole is 300 m in length and will drill at a dip of -50° to the northwest (320° azimuth), testing the target and Sixtymile-Pika Fault along an approximately 1.1 km strike length.
Wolf Property
The Wolf property is located east on the White River, approximately 120 km south-southwest of Dawson City and 35 km west of the Company’s White Gold Project. The Taurus target is located in the southwest region of the Wolf property. It is defined by an approximately 2 km long by 0.5 km wide, northeast-trending gold in soil anomaly, including maximum values of 358 ppb Au. Follow-up GT probe sampling returned values of up to 0.76 g/t Au along with multiple samples greater than 0.5 g/t Au. The arcuate-shaped gold in soil anomaly at the Taurus target appears to be coincident with a magnetic low, which from target scale mapping, correlates with a siliciclastic unit assigned to the Carmacks Group. Subsequent IP surveying conducted over this anomaly shows the presence of a sub-vertically dipping chargeability high directly underneath the gold in soil anomaly, suggesting the presence of a potential feeder structure.
The 2023 program at the Wolf property will see four RAB holes drilled at the Taurus target, totalling 400m of drilling. Holes will generally be drilled towards the southwest, with one hole drilled to the north to test the dip of the zone at depth. Each hole will be 100 m long, with holes placed such that the full 1.5 km strike length of the anomaly is tested.
Toonie Property
The Toonie property is located west of the Yukon River, approximately 45 km southwest of Dawson City. The Deux target is located in the northwestern region of the property and forms a 1.5 km by 0.5 km east-west trending multi-element (Au-As-Tl-Ag) soil anomaly, including maximum values of 156 ppb Au. Property scale airborne magnetic and electromagnetic surveying (DIGHEM survey) that was previously flown over the anomaly appears to show a prominent DIGHEM resistivity anomaly which flanks the soil geochemical anomaly on all sides. Subsequent target scale geological mapping identified sericite and chlorite-altered mafic volcanic rocks with vein-controlled sulphide mineralization indicating the target is prospective for shear-hosted gold mineralization.
The 2023 program at the Toonie property will see four RAB holes drilled at the Deux target, totalling 400 m of drilling. Each hole will be drilled to the north at dips of -55°, 100 m in length, and holes placed such that the full 1.5 km strike length of the anomaly is tested.
The Company has been awarded Yukon Mineral Exploration Program (YMEP) grants for Target Evaluation at both the Wolf and Toonie properties. Under the YMEP the Yukon Government provides successful applicants funding to support mineral exploration activities for 50% of eligible expenditures up to a maximum of $50,000. The Company wishes to acknowledge and thank the Yukon Government for their continued support of its exploration programs in the Yukon.
Pedlar and Hayes Properties
The Pedlar and Hayes properties are located in the southern portion of the Company’s land package approximately 25 km northeast and 30 km east respectively of the Casino copper-gold porphyry deposit. Large multi-element soil geochemical anomalies have been identified on both properties which indicate underlying porphyry ± epithermal style mineralization. The Bridget target on the Pedlar property measures 3 km NW-SE by 3.5 km NE-SW, and the newly named Isaac target on the Hayes property measures 2 km E-W by 1.5 km N-S (see Company News Release dated April 5, 2023). Induced polarization – resistivity ground geophysical surveys are planned at both the Bridget and Isaac targets to characterize the anomalies at depth and aid in future diamond drill planning.
Regional Exploration
Regional exploration work including geological mapping and prosecting, soil sampling and ground magnetics and VLF-EM surveying will be carried out on several properties with a goal of identifying new drill targets.
About White Gold Corp.
The Company owns a portfolio of 17,584 quartz claims across 30 properties covering approximately 350,000 hectares representing over 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold project hosts four near-surface gold deposits which collectively contain an estimated 1,152,900 ounces of gold in Indicated Resources and 942,400 ounces of gold in Inferred Resources(1). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Indicated Resources of 2.14 Moz at 1.23 g/t Au, and Inferred Resources of 0.23 Moz at 1.01 g/t Au(2), and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 7.6 Blb Cu and 14.5 Moz Au and Inferred Resources of 3.3 Blb Cu and 6.6 Moz Au(3). For more information visit www.whitegoldcorp.ca.
(1) See White Gold Corp. technical report titled “2023 Technical Report for the White Gold Project, Dawson Range, Yukon, Canada ”, Effective Date April 15, 2023, Report Date May 30, 2023, NI 43-101 Compliant Technical Report prepared by Dr. Gilles Arseneau, P.Geo., available on SEDAR.
(2) See Newmont Corporation 10-K: Annual report for the year ending December 31, 2022, in the Measured, Indicated, and Inferred Resources section, dated February 23, 2023, available on EDGAR. Reserves and resources disclosed in this Form 10-K have been prepared in accordance with the Regulation S-K 1300, and do not indicate NI43-101 compliance.
(3) See Western Copper and Gold Corporation technical report titled “Casino project, Form 43-101F1 Technical Report Feasibility Study, Yukon Canada”, Effective Date June 13, 2022, Issue Date August 8, 2022, NI 43-101 Compliant Technical Report prepared by Daniel Roth, PE, P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, P.Geo., Daniel Friedman, P.Eng., Scott Weston, P.Geo., available on SEDAR.
Qualified Person
Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.
Cautionary Note Regarding Forward Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as 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 materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:
the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading "Risks Factors" in the Company's annual information form dated July 29, 2020 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
For Further Information, Please Contact:
Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca
Figure 1 FINAL
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Figures accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/47098aa3-cc71-4551-90d9-e30e485af183
https://www.globenewswire.com/NewsRoom/AttachmentNg/4020bd30-a8b8-41ad-98f6-6b055265ba0d
https://www.globenewswire.com/NewsRoom/AttachmentNg/daeef722-692c-4f8c-8cbd-bce272000296
https://www.globenewswire.com/NewsRoom/AttachmentNg/d30a40ea-f0c2-4ce6-bd40-905db8441a86
Snowline Gold Reports Positive Results From Initial Metallurgical Testing of Rogue Project’s Valley Discovery With Gold Recoveries From 88% to 96%
https://www.accesswire.com/761174/Snowline-Gold-Reports-Positive-Results-From-Initial-Metallurgical-Testing-of-Rogue-Projects-Valley-Discovery-With-Gold-Recoveries-From-88-to-96
Wednesday, June 14, 2023 7:00 AM
Snowline Gold Corp.
https://snowlinegold.com/
Fireweed Metals Announces Mineral Resources for the Mactung Project: the Largest High-Grade Tungsten Deposit in the World*
https://fireweedmetals.com/news/fireweed-metals-announces-mineral-resources-for-the-mactung-project-the-largest-high-grade-tungsten-deposit-in-the-world/
June 13, 2023
Mactung is the world’s largest high-grade deposit of the critical mineral tungsten*.
Mineral resources total 41.5 Mt Indicated Resource at 0.73% WO3 and 12.2 Mt Inferred Resource at 0.59% WO3.
In addition, an Exploration Target is estimated at 2.5 Mt to 3.5 Mt at a grade between 0.4% and 0.6% WO3, within the mining shapes that constrain the Mineral Resource.
The resource estimate includes estimates for the critical mineral copper in addition to gold and metallurgical test work is underway to determine recoveries of these by-product metals.
Mactung is contiguous with Fireweed’s Macmillan Pass zinc-lead-silver project, accessible by the North Canol Road, and provides potential for future project synergies.
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF) i
Snowline Gold Purchases Mineral Property Portfolio with Historical Drill Results Of 2.1 Grams Per Tonne Gold Over 96.0 Metres on Intrusive Target Near Rogue Project’s Valley Discovery
https://www.accesswire.com/758554/Snowline-Gold-Purchases-Mineral-Property-Portfolio-with-Historical-Drill-Results-Of-21-Grams-Per-Tonne-Gold-Over-960-Metres-on-Intrusive-Target-Near-Rogue-Projects-Valley-Discovery
Thursday, June 1, 2023 9:25 AM
Snowline Gold Corp.
https://snowlinegold.com/
Snowline Gold Expands Its Rogue Project 80% By Staking Open Ground Across Rogue Plutonic Complex and Activates Second Drill
https://www.accesswire.com/760256/Snowline-Gold-Expands-Its-Rogue-Project-80-By-Staking-Open-Ground-Across-Rogue-Plutonic-Complex-and-Activates-Second-Drill
Friday, June 9, 2023 7:00 AM
Snowline Gold Corp.
https://snowlinegold.com/
Snowline stakes an additional ~40,000 hectares on its Rogue Project, securing nearly all remaining open mineral tenure over the regional geological feature hosting the Valley discovery and other gold targets
Additional staking on surrounding Cynthia, Einarson and Ursa projects further consolidates Company position in broader Selwyn Basin gold district, increasing overall Yukon Territory land position by 20% to roughly 333,900 hectares
Drilling ongoing at Valley, with second drill active and 106 instances of visible gold observed in top 337 m of V-23-034 accompanied by high quartz vein densities.
VANCOUVER, BC / ACCESSWIRE / June 9, 2023 / SNOWLINE GOLD CORP. (TSX-V:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has staked substantially all remaining open ground over the Rogue Plutonic Complex, the broad geological feature responsible for gold mineralization at the Rogue Project's Valley discovery and other nearby reduced intrusion-related gold system (RIRGS) targets. This staking expands Snowline's 100% owned Rogue Project by roughly 80% to 94,397 hectares (944 km2) and consolidates the 60x30 km geological feature for systematic, comprehensive exploration. Additional strategic and targeted staking on the Company's surrounding Cynthia, Einarson and Ursa projects brings its total Yukon Territory mineral tenure holdings to 333,900 hectares (~3,339 km2). The increased land position solidifies Snowline's competitive advantage in an emerging gold district host to multiple gold discoveries and mineralization styles.
Figure 1 - The Rogue Plutonic Complex (red), showing Snowline Gold's newly staked claims (yellow squares) against the Company's pre-existing Rogue Project (medium blue). The new staking consolidates the regional plutonic complex into a contiguous project.
"We know from our 2022 drill results at Valley that the Rogue Plutonic Complex has the necessary geological ingredients to produce a significant gold system," said Scott Berdahl, CEO and director of Snowline Gold. "The Valley discovery highlights the geological potential of the rest of this regional-scale geological feature, where limited historical work and our own efforts have produced an abundance of intriguing results, anomalies and discoveries. We have actively built, progressively and systematically, not just a first-mover position but effectively an ‘only-mover' position in a fertile area that we believe has the potential to become a new gold district. We can now comprehensively and responsibly explore this area, focusing not only on advancing our existing targets but on making additional discoveries as well."
In addition to staking, the Snowline technical team has been compiling and digitizing historical work from various campaigns in the Rogue project area carried out in the late 1960s, early 1980s and mid-1990s, adding it to the Company's extensive database from the work done in and around the project area in the early 2010s and recently by the Company itself.
AREAS OF INTEREST
Roughly 21% of the 2,530 newly staked claims fall within or partly within the fixed 2 km areas of interest (AOIs) defined in Snowline (formerly Skyledger Tech Corp)'s December 1, 2020 deal with Yukon-based company 18526 Yukon Inc., through which Snowline acquired its extensive Yukon datasets and its initial Yukon mineral properties. Claims staked within the AOIs are subject to a 2% net smelter return (NSR) and are incorporated into existing buy-down provisions which allow Snowline to reduce NSR to 1% on a project-by-project basis. 18526 Yukon Inc. is a privately held project generation company that is owned 40% by Snowline's CEO and Director Scott Berdahl. The remaining 79% of newly staked claims have no underlying royalties.
EXPLORATION UPDATE
V-23-034
Drill hole V-23-034 encountered moderate to high quartz vein densities in granodiorite throughout the length of the 425 m hole, with 106 observations of trace visible gold distributed within quartz veins in the top 337 m of the hole. It is collared roughly 100 m to the north of V-22-007 (410.0 m @ 1.89 g/t Au from surface including 146.0 m @ 3.24 g/t Au, see Snowline news release dated November 15, 2022), 80 m southeast of V-22-029 (558.7 m @ 1.26 g/t Au from surface including 202.0 m @ 2.04 g/t Au, see Snowline news release dated February 24, 2023), and 200 m to the northeast of V-22-010 (318.8 m @ 2.55 g/t Au including 108.0 m @ 4.14 g/t Au from surface, see Snowline news release dated October 12, 2022). At least three distinct vein orientations have been recognized, with gold mineralization present in all three. Quartz vein densities and frequency of observation of visible gold within the top 337 m are comparable to those seen in these earlier highlight holes. The final 40 m of the hole, from roughly 385 to 425 downhole, had high quartz vein densities but no visible gold and a lower abundance of bismuth and tellurium indicator minerals. Assays are pending for this hole.
The first drill rig has moved and commenced drilling on V-23-036.
Figure 2 - Drilling to date at the Rogue Project's Valley Zone, showing assays received to date (top) and vein densities alongside instances of visible gold observed during logging (bottom). High quartz vein densities and abundant trace visible gold in V-23-034 indicate strong continuity and width to the near-surface mineralized corridor that has carried the highest grades and largest intersections seen in previous holes. Analytical results for this zone consistently carry unusually high grades for a reduced intrusion-related gold system.
Figure 3 - Quartz vein mineralization in V-23-034, from 158.7 to 194.5 m downhole, a subset of a much larger run of similar moderate to high quartz vein density beginning at bedrock surface (Figure 2). At least three generations of sheeted quartz veins are accompanied by abundant trace instances visible gold, denoted by orange flagging tape above the NQ2-sized (5.1 cm diameter) drill core.
Second Rig & V-23-035
A second rig has commenced drilling on the Rogue Project's Valley target. At the time of writing, 168 m of core from V-23-035, Snowline's second drill hole of 2023, have been received by the core shack and logging has begun. The hole thus far has seen continuous vein densities of 5-7 veins per metre in granodiorite, with 16 instances of visible gold observed throughout this length.
Figure 4 - Updated project location map for Snowline Gold's eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus.
ABOUT ROGUE
The Valley Zone on Snowline's flagship Rogue Project is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production such as Kinross's Fort Knox Mine in Alaska and Victoria Gold's Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until additional work is completed.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue Project is thus considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. The Company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared and approved by Thomas Branson, P. Geo., Vice President of Exploration for Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ON BEHALF OF THE BOARD
Scott Berdahl
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements regarding mineralization intensity based on visual observations of drill core, the comparison of vein intensity and visible gold mineralization in V-23-034 to previous highlight holes, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
SOURCE: Snowline Gold Corp.
Gladiator Metals Intersects Copper in Maiden Drill Campaign at Cowley Park
https://www.newsfilecorp.com/release/168732
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2023) - Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) (FSE: ZX7)
SITKA DRILLS 215.1 METRES OF 1.00 G/T GOLD, INCLUDING 30.7 METRES OF 2.19 G/T GOLD AT ITS RC GOLD PROJECT, YUKON
https://www.newswire.ca/news-releases/sitka-drills-215-1-metres-of-1-00-g-t-gold-including-30-7-metres-of-2-19-g-t-gold-at-its-rc-gold-project-yukon-872616378.html
CNW Group
Tue, June 6, 2023 at 5:30 a.m. PDT·14 min read
VANCOUVER, BC, June 6, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF
Fireweed Starts Largest Ever drill Program at Macmillan Pass Focused on Expansion of All Mineralized Zones
https://fireweedmetals.com/news/fireweed-starts-largest-ever-drill-program-at-macmillan-pass-focused-on-expansion-of-all-mineralized-zones/
June 6, 2023
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF, formerly Fireweed Zinc Ltd.) is pleased to announce the 2023 diamond drill program has started at Macmillan Pass and provide an operations update.
Highlights
2023 will be Fireweed’s largest ever drill program with goals to expand all known mineralized zones at Macmillan Pass.
Drilling is underway with plans to complete 16,000+ m using five diamond drill rigs, with opportunity to increase.
The focus of the initial phase of drilling is growth at Boundary Zone building on past successes.
Macmillan Pass Camp expansion is progressing on schedule to add 48-persons to its capacity.
Commencement of year-round environmental studies to inform future assessment processes to advance Macmillan Pass towards production.
CEO Statement
Brandon Macdonald, CEO stated “We are off to a great start and look forward to a game-changing season ahead. We are on track to complete the largest ever drill program Fireweed has carried out at Macmillan Pass. The first drill rig is turning and we are preparing to receive four more drill rigs once the road to site is opened. It’s busy times and exciting times; and with a healthy treasury of over $30 million, 2023 is shaping up to be a banner year for Fireweed.”
2023 Diamond Drill Program
The 2023 program will utilize five diamond drill-rigs, targeting over 16,000 m of drilling between Boundary, Tom, and Jason zones. The initial phase of drilling (Phase 1) with the first drill is currently underway. This phase is focused on stepping out from the high-grade intersections drilled at Boundary Zone in 2022 such as holes NB22-023 that intersected 298 m of 4.5% zinc, 1.4% lead, and 30.9 g/t silver including a new stratiform zone of 9.6 m grading 24.5% zinc, 15.1% lead, and 323.2 g/t silver (see Fireweed news release dated March 2, 2023).
The Phase 1 2023 step-outs will include testing the potential continuation of the high-grade stratiform mineralization and massive sulphide mineralization at Boundary West and Boundary Main. Fireweed has identified an area between Boundary West and Boundary Main that has geological potential to host a high-grade feeder zone and is flanked by two of Fireweed’s best ever drillholes at Boundary Zone, NB22-002 and NB22-023 (see Fireweed news releases dated November 22, 2022, and March 2, 2023). The Phase 1 program will provide a first pass drill test of this potential feeder area that may link Boundary Main and Boundary West (Long Section I-I’, Cross Section H-H’, and Map 2).
Camp Expansion Update
Camp is open for the season and ramp up is progressing on schedule with nearly 50 people on site. Construction is well underway at the new 48-person camp expansion. This all-weather expansion will allow us to support around 100 people on site to complete the 2023 season objectives.
This work is an important step to build out Macmillan Pass camp capacity to the approved capacity of 150 people which will allow for larger drill programs and simultaneous environmental baseline work while also enabling extension of the operating season by several months.
Year-Round Environmental Studies Underway
Year-round, field-based environmental baseline studies are underway to support project planning and impact assessment activities to inform future assessment processes to advance Macmillan Pass towards production.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F): Fireweed Metals is a public mineral exploration company on the leading edge of Critical Minerals project development. Fireweed is well-funded, with a current cash position of over C$30,000,000 and is well-positioned to carry out the large 2023 exploration program. The Company has three projects located in Canada:
Macmillan Pass Project (Zinc-Lead-Silver): Fireweed owns 100% of the district-scale 940 km2 Macmillan Pass project in Yukon, Canada, which is host to one of the largest undeveloped zinc resources in the world* where the Tom and Jason zinc-lead-silver deposits have current Mineral Resources1 (21 Mt Indicated Resource at 6.59% zinc, 2.48% lead, and 21.33 g/t silver; and 39.47 Mt Inferred Resource at 5.84% zinc, 3.14% lead, and 38.15 g/t silver) and a Preliminary Economic Assessment2 (PEA). In addition, Boundary Main, Boundary West, Tom North and End Zone have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes large blocks of adjacent claims with known showings and significant upside exploration potential.
Mactung Project (Tungsten): The Company recently acquired 100% interest in the 37.6 km2 Mactung Project located adjacent to the Macmillan Pass Project. Mactung contains historic resources that make it one of the largest and highest-grade undeveloped resources in the world of the Critical Mineral tungsten*. Located in Canada, it is one of the rare large tungsten resources outside of China. An updated mineral resource estimate is being finalized and will be released shortly.
Gayna River Project (Zinc-Lead-Gallium-Germanium): Fireweed has 100% of the 128.75 km2 Gayna River project located 180 km north of the Macmillan Pass project. It is host to extensive mineralization including Critical Minerals zinc, gallium and germanium as well as lead and silver, outlined by 28,000 m of historic drilling and significant upside potential.
Qualified Person Statement
Technical information in this news release has been approved by CEO Brandon Macdonald, P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market (www.otcmarkets.com) and is DTC eligible for enhanced electronic clearing and settlement. In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.
Additional information about Fireweed and its projects can be found on the Company’s website at FireweedMetals.com and at www.sedar.com.
ON BEHALF OF FIREWEED METALS CORP.
“Brandon Macdonald”
CEO & Director
Contact: Brandon Macdonald
Phone: (604) 646-8361
Email: info@fireweedmetals.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 Statements
Forward Looking Statements
This news release contains “forward-looking” statements and information (“forward-looking statements”). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to future work plans, the use of funds, interpretation of drill results and projections of mineralization,, and the potential of the Company’s projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. The Company assumes no obligation to update forward-looking statements or beliefs, opinions, projections or other factors, except as required by law.
Footnotes and References
* References to relative size and grade of the Mactung historic resources and Macmillan Pass resources in comparison to other tungsten and zinc deposits elsewhere in the world, respectively, are based on review of the Standard & Poor’s Global Market Intelligence Capital IQ database.
1: Fireweed Technical Report titled “NI 43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory, Canada” filed on www.SEDAR.com on Feb 23, 2018, and Fireweed News Release dated January 10th 2018.
2: Fireweed Technical Report titled “NI 43-101 Technical Report Macmillan Pass Project Yukon Territory Canada” filed on www.SEDAR.com on July 9th 2018, and Fireweed News Release dated May 23rd, 2018. This Preliminary Economic Analysis includes an economic analysis of mineral resources that is preliminary in nature and does not include any mineral reserves. It is equally emphasized that the mineral resources disclosed within this Technical Report are not mineral reserves and do not have demonstrated economic viability.
Map 1: Macmillan Pass Project and Mactung Project locations and mineral deposits.
Map 2: Location of 2023 Phase 1 planned drillholes, cross section H-H’ and long section I-I’.
Long Section I-I’ – Phase 1 of 2023 drill program targeting an untested potential feeder at Boundary Zone.
Cross Section H-H’ – Location of the first hole of the season, NB23-001, stepping out from the high-grade new stratiform zone in the footwall of the Boundary Main Fault, high-grade vein and breccia mineralization above the Boundary Main Fault, and volcaniclastic-hosted mineralization at depth.
Nickel Creek Platinum Announces Updated Mineral Resource Estimate at Nickel Shäw Project
https://www.newswire.ca/news-releases/nickel-creek-platinum-announces-updated-mineral-resource-estimate-at-nickel-shaw-project-846769255.html
Nickel Creek Platinum Corp. 01 Jun, 2023, 06:30 ET
TORONTO, June 1, 2023 /CNW/ - Nickel Creek Platinum Corp. (TSX: NCP) (OTCQB: NCPCF)
Sitka Drills 292.0 m of 1.00 g/t Gold Including 75.0 m of 2.04 g/t Gold at Its RC Gold Project, Yukon
https://www.newswire.ca/news-releases/sitka-drills-292-0-m-of-1-00-g-t-gold-including-75-0-m-of-2-04-g-t-gold-at-its-rc-gold-project-yukon-829691970.html
CNW Group
May 24, 2023·16 min read
VANCOUVER, BC, May 24, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF)
Victoria Gold: 2023 First Quarter Financial Results
https://ca.finance.yahoo.com/news/victoria-gold-2023-first-quarter-223100010.html
Victoria Gold Corp
May 11, 2023
TORONTO, May 11, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (“
Yukon government takes over Minto Mine after company ceases operations
https://ca.finance.yahoo.com/news/yukon-government-takes-over-minto-180651498.html
The Canadian Press
Mon, May 15, 2023 at 11:06 a.m. PDT·1 min read
WHITEHORSE — The Yukon government says it’s focused on protecting the environment after taking control of the Minto Mine located on Selkirk First Nation territory.
Stephen Mead, the government’s assistant deputy minister of mineral resources and geoscience services, says the government was informed on Friday by Minto Metals Corp. that it intended to cease operations of the mine and remove its staff over the weekend.
Mead says the government hired JDS Mining to take over the site as a contractor, deploying the firm within 24 hours to secure critical employees and infrastructure.
He says the mine had around 180 staff and contract employees before the decision Friday by Minto, and that so far JDS has approached around 50 staff members with the intent to hire them to continue working on the site.
Mead says the government had already been monitoring the mine from an environmental perspective, and while it's too soon to comment on the future of the mine, the current priority is on maintaining the pits that store contaminated water.
Whitehorse-based Minto said in a news release Saturday that it’s working with the government and that it has invested a significant amount of money into improving the water treatment plants at the mine.
This report by The Canadian Press was first published May 15, 2023.
Companies in this story: (TSX:MNTO)
Sitka Continues to Intersect Visible Gold and Expand Mineralization at Its Blackjack Gold Deposit in Yukon
https://www.newswire.ca/news-releases/sitka-continues-to-intersect-visible-gold-and-expand-mineralization-at-its-blackjack-gold-deposit-in-yukon-899672127.html
Sitka Gold Corp. May 08, 2023, 08:30 ET
VANCOUVER, BC, May 8, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF)
Gladiator Metals Assays 32.92m @ 2.08% Copper from Historical Drill Core at Cowley Park
https://www.newsfilecorp.com/release/166124
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2023) - Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) (FSE: ZX7)
Gladiator Metals Announces Initial Drill Intercepts from Compilation of Historic Drilling Data at Cub Trend Additional
Copper Intercepts from Gladiator Metals' Compilation of Historical Drilling Data Indicate the Potential for a Shallow, High-Grade Mineralization Trend Near the Cowley Park Prospect
https://www.newsfilecorp.com/release/165705
Vancouver, British Columbia--(Newsfile Corp. - May 11, 2023) - Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) (FSE: ZX7) ("Gladiator" or the "Company"), a mineral exploration company focused on the advancement of multiple high-grade copper prospects in Canada's Whitehorse Copper Belt, is pleased to announce an update on ongoing data compilation of historic drilling for the high-grade, historically producing Whitehorse Copper Project. Collation of the historic data from the Cub trend has identified 142 drill holes in addition to those to those previously reported by the Company on the Cowley Park prospect and defines a shallow high-grade mineralized trend just 3km to the west of the Cowley Park prospect for the Company to target in future exploration, including:
Gem (Unmined):
G-011: 16.61m @ 2.59% Cu from 76.05m
G-018: 24.99m @ 1.4% Cu from 23.93m
Keewenaw (Partially Mined):
K-004: 39.62m @ 1.56% Cu from 40.54m
K-005: 55.47m @ 1.26% Cu from 37.49m
K-006: 57.91m @ 0.93% Cu from 10.67m
K-013: 19.05m @ 2.83% Cu from 18.9m
K-019: 23.47m @ 2.91% Cu from 41.76m
K-020: 74.98m @ 1.51% Cu from surface
Black Cub South (Partially Mined):
BLC-008: 34.75m @ 1.65% Cu from 8.84m
BLC-024: 17.83m @ 2.27% Cu from 9.48m
Mineralization in the Cub trend consists of multiple prospects with similar geological setting over more than 1km of strike and remains open at depth and along strike (with mineralization drilled to date to a maximum of 100m vertical depth only). The historic intercepts results represent an opportunity to demonstrate the geological continuity throughout this area linking these prospects and, on a wider scale, linking it to the Cowley Park prospect to the east.
Only limited exploration to date between Cowley Park and the Cub trend with an opportunity to consolidate the two target areas into a single target through planned regional mapping and geophysics.
Compiled historical drilling results were generally limited to selective sampling and assaying for copper only. Gladiator intends to assay all future drilling and sampling for additional credits including Molybdenum, Silver and Gold which were proven contributors to the economics of historic operations.
The Company has one drill active at the Cowley Park prospect and is working to compile historic data for 30 known prospects within a 35km x 5km area, with shallow, high grade copper drill results reported from multiple prospects.
Gladiator CEO, Jason Bontempo commented:
"Gladiator is pleased to have identified another priority work area from its data compilation of historic drilling datasets. Drilling and past production from this area remains shallow, and this data compilation on the Cub trend represents an opportunity to consoilidate multiple prospects within a 1km trend into a single target area through systematic exploration.
The Cub trend is only 3km to the West of the Cowley Park prospect area and Gladiator will be working to integrate the two target areas through regional mapping and geophysics. We look forward to updating the market in the coming months with results from this regional exploration, further data compilation of historic drilling, assays from previously unlogged and unsampled core as well as initial results from Gladiators ongoing, maiden drill campaign at Cowley Park."
The Cub Trend
The Company recently completed collating historic drilling at the Cub Trend. The Cub trend is comprised of the Gem, Black Cub South, Black Cub North and Keewenaw copper prospects. The Black Cub South Pit was mined in early 1971, and a start had been made on the Keewenaw Pit when falling copper prices forced the company to cease milling on June 30th, 1971.
Overall, there has been historic production reported from the GEM, Black Cub South, Black Cub North and Keewenaw copper deposits. The Gem deposit is the northern most and was the only deposit with no reported production. It was discovered in 1967 by geophysical methods which guided the initial diamond drilling. The Black Cub South open pit deposit saw advanced exploration by geophysical surveys and diamond drilling and produced 180,000 tonnes of copper ore grading 1.33 % Cu with gold, silver, and molybdenum credits (Watson,1984). In addition an unmined, historical reserve of 20,000 tonnes at 1.25% Copper was also defined. (Watson 1984).
The Keewenaw Deposit is the westernmost outlier of this southern group and received enough geophysical surveying and diamond drilling to advance this area to a production stage. It saw production of 159,000 tonnes of ore at 0.95 % Cu and a historic, unmined, residual reserve of 202,000 tonnes grading 1.06% Copper was defined (Watson,1984).
Historic drilling collated at Cub comprises 142 holes for 11,474 metres of previous drilling, none of which have been reported previously. This collation of historic drilling has identified high-grade copper skarn mineralization in historical drilling over more than 1,000m of strike lenght connecting multiple zones of past production (Figure 1). At those prospects previously mined, it is assumed by the Company (due to the closely spaced drilling), that the mineralization with the drill intercepts was mined out. Notwithstanding this, the results represent an opportunity to demonstrate the geological continuity throughout this area linking these prospects and, on a wider scale, linking it to the Cowley Park prospect to the east.
Previous successful exploitation of the Keewenaw and Black Cub South prospects was limited in scope and remains shallow (please refer to Figure 1 below for details). Very limited drilling has been undertaken outside of these past producing deposits with mineralization remaining open both along strike and at depth at all of the defined prospect areas.
Figure 1: Plan map of the Cub Trend Target Area. Recently collated historical drill results with a cumulative Copper%*m of >40 highlighted.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/165705_65e404ab0487bb9f_002full.jpg
The Compilation at the Cub trend, identified significant "downhole mineralization," that has not been previously reported by Company, including:
Gem (Unmined):
G-011: 16.61m @ 2.59% Cu from 76.05m
G-018: 24.99m @ 1.4% Cu from 23.93m
Keewenaw (Partially Mined):
K-004: 39.62m @ 1.56% Cu from 40.54m
K-005: 55.47m @ 1.26% Cu from 37.49m
K-006: 57.91m @ 0.93% Cu from 10.67m
K-013: 19.05m @ 2.83% Cu from 18.9m
K-019: 23.47m @ 2.91% Cu from 41.76m
K-020: 74.98m @ 1.51% Cu from surface
Black Cub South (Partially Mined):
BLC-008: 34.75m @ 1.65% Cu from 8.84m
BLC-024: 17.83m @ 2.27% Cu from 9.48m
Holes were drilled at various dips on variable, prospect specific, nominal grids. Gladiator obtained the drill records and logs from the Yukon Geological Survey archives and have been captured the data within an industry standard database and validated.
The drill results reported in this news release are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results do not conform to the presently accepted industry standards. Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling. The Company has provided drill results derived form the compilation of historic data relating to prospects which were mined or partially mined by prior operators. The Company is using this data as it attempts to identify trends within the prospect areas. The Company expects to use this data as a guide to plan future exploration and drilling programs.
The historical mineral resources discussed in this press release were calculated using mining industry standard practices for estimating Mineral Resource and Mineral Reserves prior to the implementation of the current CIM standards for mineral resource estimation (as defined by the CIM Definition Standard on Mineral Resources and Mineral Reserves dated May 10, 2014). The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. An independent Qualified Person ('QP'), has not done sufficient work to classify the estimate discussed as current mineral resources or reserves and therefore the estimate should be treated as historical in nature and not current mineral resources or mineral reserves. The historical resources have been included simply to demonstrate the mineral potential of the Whitehorse Copper Project. A thorough review of all historical data performed by a QP, along with additional exploration work to confirm results, would be required in order to produce a current mineral resource estimate for each of the key prospects. For greater certainty, the Company confirms that it does not have a current mineral resource on any part of its Whitehorse Copper Project. A complete list of the complied holes, significant intercepts and their details can be found at:
https://docs.google.com/spreadsheets/d/1mn25VTZ5DSvCH-NfXUYRnCmB6WxwWVE5NVYMdYKd41U/edit#gid=1204953821
Exploration Update
The Company's 2023 exploration program at the Whitehorse Copper Project is categorized into four parts which includes:
The Company's recently commenced a 3,000m diamond drilling program, focused predominantly on defining and extending mineralization at the Cowley Park prospect. Cowley Park had reached feasibility stage before copper mining operations activity in the were ceased in the region 1982. Identified mineralisation at Cowley remains open along strike and down dip.
In addition to the Company's own diamond drilling above, Gladiator will continue its program of logging and sampling approximately 10,000 metres of unassayed core from exploration drilling completed in recent years. The 10,000 metres of core mostly relates to drilling at Cowley Park (including 18-CP-04 and 19-CP-03) but also includes drilling at other prospect areas including North Star, Grafters, and Verona that are situated on the Best Chance to North Star trend and includes the former Little Chief mine.
Gladiator will also assay for Molybdenum, Gold, Silver & other elements which were not historically systematically assayed for, along with incorporating potentially lower grade mineralized material within or adjacent to significant mineralized widths that was often not sampled in the past to allow for future assessment of modern bulk mining potential.
The Company is also carrying out a systematic consolidation of the historic drilling and mining activity representing the first time a comprehensive review of regional datasets has been undertaken since the last mining activity in the region ceased in 1982 with the closure of the Little Chief mine. Gladiator to date has identified over 800 historical surface drill holes drilled by Hudson Bay Mining & Smelting Co Ltd., Yankee Hat Minerals Ltd, Lobo Del Norte Ltd, and the Vendor H.Coyne & Sons Ltd which were logged and selectively assayed. This includes 219 holes for approximately 25,000 metres completed at the Cowley Park prospect which were reported to the market on April 3, 2023. As compilation and digitisation is completed the company will release the results of this historical drilling by prospect area along the Whitehorse Copper belt.
Regional Exploration
Work completed to date has identified more than 30 drill ready, high-grade regional targets associated with copper rich skarns at the contact between the Cretaceous age Whitehorse Plutonic Suite and the Triassic to Jurassic Lewes River Group's clastic and carbonate metasediments. Cumulatively, there is more than 35km of underexplored strike on the contact which is prospective for high-grade Copper+/-Molybdenum+/-Silver+/- Gold (refer to Figure 3 below).
Figure 3: Plan map of the Whitehorse Copper Project showing geology and location of key prospects within the main trend please refer to Company's news releases dated February 13, 2023, April 3, 2023, and April 27th, 2023, for details.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/165705_65e404ab0487bb9f_003full.jpg
Gladiator's position is enhanced at Whitehorse, with the project having near year-round access for work programs, including an established road and drill access network, low capital infrastructure requirements due to the project's proximity to Whitehorse and a strong partnership with the owners of the Whitehorse Copper Project, an experienced local drilling service provider.
ABOUT GLADIATOR METALS CORP.
Gladiator Metals Corp. is a mineral exploration company focused on the advancement of multiple high- grade copper prospects at its Whitehorse Copper Project (the "Project"), an advanced-stage copper (Cu) ± molybdenum (Mo) ± silver (Ag) ± gold (Au) skarn exploration project in the Yukon Territory, Canada. The Project comprises 314 contiguous claims covering approximately 5,380 Hectares (13,294 acres) in the Whitehorse Mining District.
Copper mineralization was first discovered in 1897 on the Whitehorse Copper Belt, as it came to be known. The Whitehorse Copper Belt comprised over 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a northwesterly trending arc. Exploration and mining development have been carried out intermittently since that time with the main production era lasting between 1967 and 1982 where production totaled 267,500,000 pounds copper, 225,000 ounces of gold and 2,838,000 ounces of silver from 11.1 million tons of mineralized skarn ore were milled (Watson, 1984).
The Project is accessible through numerous access roads and trails located within 2 km of the South Klondike Highway and the Alaska Highway. An extensive network of historical gravel exploration and haul roads exists throughout the project area, providing excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid. In November 2022, Gladiator executed an option agreement to acquire 100% of the Whitehorse Copper Project by incurring exploration expenditure of $12m on the project, staged payment of $300,000 in cash and the staged issue of 15m shares over 6 years. Following the exercise of the Option, the Company must pay the Optionor, or such other person(s) as the Optionor may direct from time to time, a 1.0% net smelter returns royalty on the Whitehorse Copper Project.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, a "qualified person" as defined by NI 43-101.
ON BEHALF OF THE BOARD
"Jason Bontempo"
Jason Bontempo
President and CEO
For further information contact:
Dustin Zinger, Investor Relations
+1-604-653-9464
dzinger@gladiatormetals.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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain of the statements and information in this news release constitute "forward-looking statements" or "forward-looking information." Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information..
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
Fireweed Announces Plans for 16,000m Drill Program at Macmillan Pass and Appoints New Vice President of Operations
https://ca.finance.yahoo.com/news/fireweed-announces-plans-16-000m-123000499.html
Fireweed Metals Corp.
Tue, May 2, 2023 at 5:30 a.m. PDT·7 min read
https://ca.finance.yahoo.com/news/fireweed-announces-plans-16-000m-123000499.html
VANCOUVER, British Columbia, May 02, 2023 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF, formerly Fireweed Zinc Ltd.) is pleased to announce plans for the 2023 field program at Macmillan Pass and the appointment of Andrew Crook, P. Eng. as the new Vice President of Operations.
Highlights
2023 will be Fireweed’s largest ever drill program with five drills secured and goals to expand all known mineralized zones
Over 16,000 m of drilling planned, with the opportunity to increase
Strengthened management team with the addition of Andrew Crook as Vice President of Operations
Increased future operational capacity with improved site infrastructure including construction of a new, larger, camp better equipped for cold-weather operations
Continued opportunities for local community members and businesses
Commencement of year-round environmental studies to inform future assessment processes on the path to eventual production at Macmillan Pass and Mactung
CEO Statement
Brandon Macdonald, CEO stated “We are delighted to welcome Andrew Crook to our management team as Vice President of Operations. His skills and experience will be instrumental in what will be an exciting and busy season for Fireweed as we ramp up to our largest ever drill program with goals to expand all the known mineralized zones. We are also building on our success in recent years by working closely with our Indigenous partners, business partners, and local communities to provide employment and business opportunities while welcoming back many returning staff this year. Perhaps equally exciting is the start of year-round baseline environmental studies as we begin our journey toward production at Macmillan Pass and Mactung.”
New Vice President of Operations, Andrew Crook, P.Eng.
Andrew is a registered Professional Engineer with 10 years of experience working with leading mining companies and junior developers where he has demonstrated success leading projects from exploration stage through engineering studies, permitting, and into construction. Andrew helped see Sabina Gold & Silver’s Back River Gold Project through studies, permitting, licensing, and early construction including leading field drilling programs and executing complex logistics projects. Most recently, Andrew worked as Deputy Project Director for Kinross Gold’s Manh Choh project in northeastern Alaska where he fast-tracked project development and secured Board approval for $255M capital putting the project on track to achieve first gold by 2024.
Operations Update
Preparations are well underway for the biggest drilling campaign in the history of the Macmillan Pass Project. We have secured five drills for the 2023 season with plans to drill at least 16,000 m focused largely on growth through step-out drilling at the Boundary Zone advanced prospect, and step-out and infill drilling at the Tom and Jason deposits. Initial mobilization will occur in May to support camp opening and expansion to eventually support up to 150 people. Drilling is planned to begin in June and continue through to September with the option to extend further into the fall.
Local Procurement and Hiring
Fireweed is proud to be continuing to expand our team of highly skilled personnel with an estimated 40 members from local communities either returning to the Macmillan Pass Project or joining us for their first season at the site. Fireweed is also grateful for the continued dedicated service of local and Indigenous-owned businesses for the upcoming field season, including camp expansion, which was made possible through collaboration with the Dena Nezziddi Development Corporation, which is wholly owned by the Ross River Dena Council.
Commencement of Year-Round Environmental Studies
Fireweed has previously conducted routine environmental monitoring and completed heritage assessments and wildlife studies in accordance with regulatory requirements and guidance for exploration activities. In 2023 continuous year-round field-based studies will commence to support project planning and impact assessment activities to progress towards project approvals for construction and production at both Macmillan Pass and Mactung.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F): Fireweed Metals is a public mineral exploration company on the leading edge of Critical Minerals project development. Fireweed is well-funded, with a current cash position of approximately C$35,000,000 and is well-positioned to carry out a large 2023 exploration program. The Company has three projects located in Canada:
Macmillan Pass Zinc-Lead-Silver Project: Fireweed owns 100% of the district-scale 940 km2 Macmillan Pass project in Yukon, Canada, which is host to one of the largest undeveloped zinc resources in the world* where the Tom and Jason zinc-lead-silver deposits have current Mineral Resources1 (11.21 Mt Indicated Resource at 6.59% zinc, 2.48% lead, and 21.33 g/t silver; and 39.47 Mt Inferred Resource at 5.84% zinc, 3.14% lead, and 38.15 g/t silver) and a Preliminary Economic Assessment2 (PEA). In addition, Boundary Main, Boundary West, Tom North and End Zone have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes large blocks of adjacent claims with known showings and significant upside exploration potential.
Mactung Tungsten Project: The Company recently signed a definitive Asset Purchase Agreement and acquired 100% interest in the 37.6 km2 Mactung Tungsten Project located adjacent to the Macmillan Pass Project. Mactung contains historic resources that make it one of the largest and highest-grade undeveloped resources in the world of the Critical Mineral tungsten*. Located in Canada, it is one of the rare large tungsten resources outside of China. An updated mineral resource is planned for Q2 2023, and re-sampling of historic drill core is completed and will include assays for previously unreported by-product metals, such as gold, copper, and bismuth, in addition to tungsten.
Gayna River Zinc-Lead-Gallium-Germanium Project: Fireweed has 100% of the 128.75 km2 Gayna River project located 180 km north of the Macmillan Pass project. It is host to extensive mineralization including Critical Minerals zinc, gallium and germanium as well as lead and silver, outlined by 28,000 m of historic drilling and significant upside potential. The results from the 2022 field program of geochemical sampling, airborne LiDAR topographic surveying and ground geophysics are now being interpreted towards defining drill targets.
Qualified Person Statement
Technical information in this news release has been approved by CEO Brandon Macdonald, P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies and is DTC eligible for enhanced electronic clearing and settlement. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com. In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.
Additional information about Fireweed and its projects can be found on the Company’s website at FireweedMetals.com and at www.sedar.com.
ON BEHALF OF FIREWEED METALS CORP.
“Brandon Macdonald”
CEO & Director
Contact: Brandon Macdonald
Phone: (604) 646-8361
Email: info@fireweedmetals.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 Statements
Forward Looking Statements
This news release contains “forward-looking” statements and information (“forward-looking statements”). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to future work plans, the use of funds, and the potential of the Company’s projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects”, "anticipates”, "believes”, "intends”, "estimates”, "potential”, "possible”, and similar expressions, or statements that events, conditions, or results "will”, "may”, "could”, or "should” occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. The Company assumes no obligation to update forward-looking statements or beliefs, opinions, projections or other factors, except as required by law.
Footnotes and References
* References to relative size and grade of the Mactung historic resources and Macmillan Pass resources in comparison to other tungsten and zinc deposits elsewhere in the world, respectively, are based on review of the Standard & Poor’s Global Market Intelligence Capital IQ database.
1: Fireweed Technical Report titled “NI 43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory, Canada” filed on www.SEDAR.com on Feb 23, 2018, and Fireweed News Release dated January 10th 2018.
2: Fireweed Technical Report titled “NI 43-101 Technical Report Macmillan Pass Project Yukon Territory Canada” filed on www.SEDAR.com on July 9th 2018, and Fireweed News Release dated May 23rd, 2018. This Preliminary Economic Analysis includes an economic analysis of mineral resources that is preliminary in nature and does not include any mineral reserves. It is equally emphasized that the mineral resources disclosed within this Technical Report are not mineral reserves and do not have demonstrated economic viability.
Gladiator Metals Samples 12.5m @ 8.02% Copper at Cowley Park and Commences Drilling at the Whitehorse Copper Project
https://www.newsfilecorp.com/release/163894
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2023) - Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) (FSE: ZX7) ("Gladiator" or the "Company"), a mineral exploration company focused on the advancement of multiple high-grade copper prospects in Canada's Whitehorse Copper Belt, is pleased to announce that drilling has commenced at the Whitehorse Copper Project.
Gladiator has received assays results for two sampled holes drilled at the Cowley Park prospect with results including:
18-CP-04: 12.5m @ 8.02% Cu and 13g/t Ag from 85.04m; and
19-CP-03: 8.84m @ 1.59% Cu, 0.19% Mo and 14g/t Ag from 117.65m
These results targeted two previously drilled and unassayed holes between historic high-grade drill intercepts, to establish mineralization along a south-east trending extension of known Cowley Park high-grade copper skarn mineralization.
A 3,000m diamond drill program has commenced at the Cowley Park prospect to test identified high-grade copper skarn mineralization. The program will test strike and depth extensions to known mineralization providing Gladiator with a better understanding of the mineral potential within the Whitehorse Copper Project. Gladiator has engaged Kluane Drilling Limited, a global drilling company with more than 35 years of experience headquartered in Whitehorse, Yukon.
Gladiator CEO, Jason Bontempo, commented:
"Gladiator has rapidly advanced the historic, high grade Cowley Park Copper Prospect to the first phase of diamond drilling. The current drill program will be focused on better defining high grade mineralization as well as testing down dip and strike extensions to mineralization. Results from the first two holes from the ongoing logging and sampling of approximately 10,000m's of unassayed core from exploration drilling completed in recent years has identified further, previously unreported high-grade mineralization. We are also encouraged by the reporting of additional multi-elements for the project, including significant Molybdenum and Silver values from 18-CP-04 and 19-CP-03, given that these co-elements were not historically systematically assayed for and that Gladiator feels may provide future value to the project. We look forward to updating the market in the coming months with results from our data compilation of historic drilling, further assays from previously unlogged and unsampled core as well as initial results from Gladiators maiden drill campaign at Cowley Park."
Cowley Park -Assay Drill Core
The Company is currently logging and sampling approximately 10,000 metres of backlogged uncut core from exploration drilling campaigns completed in recent years. Gladiator has received assays results for two sampled holes drilled at the Cowley Park Prospect with results including:
18-CP-04: 12.5m @ 8.02% Cu and 13g/t Ag from 85.04m
19-CP-03: 8.84m @ 1.59% Cu, 0.19% Mo and 14g/t Ag from 117.65m
The recently returned assay results from holes 18-CP-04 and 19-CP-03 (please refer to Figure 1 below for details) from the logging and sampling program continue to support Gladiator's interpretation that mineralization at Cowley Park consists of multiple bodies, dipping shallowly to the southwest. Mineralization remains open at depth with the deepest intervals drilled to date, including 13.84m @ 1.26% Cu from 130.64m (18-CP-03) remaining open at depth (please refer to Figure 1 below for details).
High-grade copper skarn mineralization has now been traced over more than 700m strike (Figure 1) in historical drilling. Mineralization remains open in all directions with the most southeasterly hole, 19-CP-08 intersecting 43.28m @ 2.24% Cu from 93.27m and the most northwesterly hole, CP-053 intersecting 27.7m @ 2.74% Cu from 33.98m (Figure 1).
Figure 1: Plan map of the advanced Cowley Park Copper Prospect. Recently collated historical drill results with a cumulative Copper%*m of >40 highlighted as well as recent assay results from previously unassayed core from exploration drilling completed in recent years.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/163894_2921c8324495ca14_002full.jpg
Figure 2: Detail from Cowley Park drill intersections12.5m @ 8.02% Cu from 85.04m showing continuity of high-grade individual assays and texture of mineralised skarn.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/163894_2921c8324495ca14_003full.jpg
Drill Core Assaying
The drill results noted above represent the initial results from the commencement of logging and sampling of approximately 10,000 metres of unassayed core from exploration drilling completed in recent years. The core was drilled by multiple project operators, including the project vendors H.Coyne & Sons with the most recent programs completed in 2020. A large proportion of this drilling is from the high-grade Cowley Park project area but core is available for multiple prospect areas within the 35km of prospective strike extent at the Whitehorse Copper Project. The Company will continue to announce relevant drill intercepts based on logical grouping.
A complete list of the compiled holes from Cowley Park, their significant intercepts and their details can be found at:
https://docs.google.com/spreadsheets/d/1mn25VTZ5DSvCH-NfXUYRnCmB6WxwWVE5NVYMdYKd41U/edit#gid=1204953821
These recent results are in addition to the recently announced data compilation work at Cowley Park, which identified significant "downhole mineralization" (refer Company's news releases dated February 13, 2023, and April 3, 2023) including;
CP-003: 16.76m @ 2.27% Cu from Surface
CP-005: 9.14m @ 3.41% Cu from Surface and 7.62m @ 1.66% Cu from 21.34m to EOH
CP-011: 32.31m @ 1.16% Cu from 37.49m
CP-016: 32.92m @ 1.49% Cu from Surface, Including 14.51m @ 2.4% Cu from Surface
CP-018: 57.91m @ 1.27% Cu from 53.04m
CP-024: 44.19m @ 1.43% Cu from 97.54m, including 30.48m @ 1.85% Cu from 97.54m
CP-026: 41.76m @ 1.06% Cu from 95.4m
CP-028: 44.50m @ 1.18% Cu from 142.65m
CP-039: 62.49m @ 0.65% Cu from 152.4m
CP-040: 89.61m @ 1.89% Cu from 26.21m
CP-053: 27.7m @ 2.74% Cu from 8.69m, Including 7.83m @ 8.34% Cu from 23.93m
CP-063: 45.36m @ 1.26% Cu from 48.46m
CP-066: 40.27m 1.45% Cu from 23.62m, Including 15.55m @ 2.7% Cu from 23.62m
CP-081: 71.44m @ 1.10% Cu from 41.64m, Including 20.72m @ 2.64% Cu from 81.69m
CP-117: 46.94m @ 0.68% Cu from 73.46m
CP-119: 36.27m @ 2.28% Cu from 72.24m
CP-120: 33.34m@ 1.59% Cu from 72.12m, including 22.86m @ 2.05% Cu from 82.6m
CP-122: 56.17m @ 1.61% Cu from 56.91m
CP-126: 2.72m @ 14.68% Cu from 71.29m
CP-127: 62.48m @ 1.17% Cu, Including 3.05m @ 19.85% Cu from 102.72m
CP-112: 54.25m @ 1.79% Cu from 41.76m, including 10.67m @ 6.93% Cu from 85.34m
CP-125: 23.32m @ 3.53% cu from 51.51m, including 18.44m @ 4.42% Cu, from 56.39m downhole & 10.31m @ 1.41% Cu from 87.84m
CP-144: 53.38m @ 1.35% Cu from 19.17m, including 38.57m @ 1.73% Cu, 7.15 g/t Ag from 33.98m
19-CP-08: 43.28m @ 2.24% Cu from 93.27m, including 40.54m @ 2.36% Cu & 4.75 g/t Ag from 95.1m, including 13.72m @ 5.41% Cu & 19.22 g/t Ag from 109.42 m
Holes were drilled at various dips on a nominal grid with lines oriented 011 degrees. Gladiator's geologists obtained the drill records and logs from the Yukon Geological Survey archives (Holes CP001-135), with the remaining drill records obtained from Assessment Reports held by the Yukon Government and geological records and reports completed by Consulting Geologists employed by the various operating companies. Gladiator has then captured the data within an industry standard database and validated, this work remains ongoing with the commencement of logging and sampling of the 10,000 metres of unassayed core from exploration drilling completed in recent years.
Exploration Update
The Company's 2023 exploration program at the Whitehorse Copper Project is categorized into four parts which includes:
The Company's recently commenced a 3,000m diamond drilling program, focused predominantly on defining and extending mineralization at the Cowley Park prospect. Cowley Park had reached feasibility stage before copper mining operations activity in the were ceased in the region 1982. Identified mineralisation at Cowley remains open along strike and down dip.
In addition to the Company's own diamond drilling above, Gladiator will continue its program of logging and sampling approximately 10,000 metres of unassayed core from exploration drilling completed in recent years. The 10,000 metres of core mostly relates to drilling at Cowley Park (including 18-CP-04 and 19-CP-03) but also includes drilling at other prospect areas including North Star, Grafters, and Verona that are situated on the Best Chance to North Star trend and includes the former Little Chief mine.
Gladiator will also assay for Molybdenum, Gold, Silver & other elements which were not historically systematically assayed for, along with incorporating potentially lower grade mineralized material within or adjacent to significant mineralized widths that was often not sampled in the past to allow for future assessment of modern bulk mining potential.
The Company is also carrying out a systematic consolidation of the historic drilling and mining activity representing the first time a comprehensive review of regional datasets has been undertaken since the last mining activity in the region ceased in 1982 with the closure of the Little Chief mine. Gladiator to date has identified over 800 historical surface drill holes drilled by Hudson Bay Mining & Smelting Co Ltd., Yankee Hat Minerals Ltd, Lobo Del Norte Ltd, and the Vendor H.Coyne & Sons Ltd which were logged and selectively assayed. This includes 219 holes for approximately 25,000 metres completed at the Cowley Park Prospect which were reported to the market on April 3rd. As compilation and digitisation is completed the company will release the results of this historical drilling by prospect area along the Whitehorse Copper belt.
Regional Exploration
Work completed to date has identified more than 30 drill ready, high-grade regional targets associated with copper rich skarns at the contact between the Cretaceous age Whitehorse Plutonic Suite and the Triassic to Jurassic Lewes River Group's clastic and carbonate metasediments. Cumulatively, there is more than 35km of underexplored strike on the contact which is prospective for high-grade Copper+/-Molybdenum+/-Silver+/- Gold (refer to Figure 3 below).
Figure 3: Plan map of the Whitehorse Copper Project showing geology and location of key prospects within the main trend please refer to Company's news releases dated February 13, 2023, and April 3, 2023, for details.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/163894_2921c8324495ca14_004full.jpg
Gladiator's position is enhanced at Whitehorse, with the project having near year-round access for work programs, including an established road and drill access network, low capital infrastructure requirements due to the project's proximity to Whitehorse and a strong partnership with the owners of the Whitehorse Copper Project, an experienced local drilling service provider.
QA / QC
As part of the processing and capturing of the previously unassayed drill core, Gladiator is undertaking a systematic review of the available drill core after being retrieved from storage. This includes a review of the geological logging, marking up of lineal length of the core, undertaking a comparison of the physical ticketed sampling against historic documentation where noted, remarking any notations on the core box (including hole number, box number and nominal depths), taking core photographs (an example of this forms the basis for Figure 2).
After the systematic review, if the core is required to be sampled or resampled where it is deemed to not match the historical record of the hole, it is then marked up for sampling with a new sampling ticket that matches the submitted sample for analysis at the start of the sample interval, the drill core is then cut in half (for un-cut core) or quartered (for resampled core where required) utilizing a core saw equipped with a diamond saw blade. The core samples are then sent for analysis and the remaining half (or quarter core) retained for future reference. Certified Reference Materials (CRMs) or known blank material is placed within the sampling sequence at a nominal sampling rate of 1 in 25 samples to monitor the Laboratory. Samples are submitted to the ALS Global laboratory (Canada).
Samples from 18-CP-04 and 19-CP-03 were crushed to 70% less than 2mm before pulverizing to better than 85% passing 75 microns. Samples were then analysed by ALS method ME-ICP41 (Aqua Regia with ICP-MS finish), with overlimits for Cu analysed by method CU-OG46 (Aqua Regia with ICP-MS finish).
As part of this process, Gladiator also captures the required sampling metadata to potentially utilize the core and analysis for any future requirements if deemed acceptable. This includes holes 18-CP-04 and 19-CP-03. Further drilling will need to be completed by Gladiator at some stage to confirm the reliability or usability of this data in the future including but not limited to twinning of reported mineralization. This may be required as Gladiator may not be able to confirm the accuracy of the drill collar location or be able to re-enter the holes to confirm depths and undertake directional surveys, or that the QA/QC might not meet the current required standards under reporting instruments, such as NI-43-101. At this point the Company is treating the data collected from this exercise as reliable for the purposes of identifying future exploration targets and may be used to inform future drilling and exploration campaigns.
In reference to historic drill results reported in this news release from the Company's data compilation exercise, these results are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results currently do not conform to presently accepted industry standards. Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling. Please refer to Company's news releases dated February 13, 2023, and April 3, 2023 for further details.
ABOUT GLADIATOR METALS CORP.
Gladiator Metals Corp. is a mineral exploration company focused on the advancement of multiple high- grade copper prospects at its Whitehorse Copper Project (the "Project"), an advanced-stage copper (Cu) ± molybdenum (Mo) ± silver (Ag) ± gold (Au) skarn exploration project in the Yukon Territory, Canada. The Project comprises 314 contiguous claims covering approximately 5,380 Hectares (13,294 acres) in the Whitehorse Mining District.
Copper mineralization was first discovered in 1897 on the Whitehorse Copper Belt, as it came to be known. The Whitehorse Copper Belt comprised over 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a northwesterly trending arc. Exploration and mining development have been carried out intermittently since that time with the main production era lasting between 1967 and 1982 where production totaled 267,500,000 pounds copper, 225,000 ounces of gold and 2,838,000 ounces of silver from 11.1 million tons of mineralized skarn ore were milled (Watson, 1984).
The Project is accessible through numerous access roads and trails located within 2 km of the South Klondike Highway and the Alaska Highway. An extensive network of historical gravel exploration and haul roads exists throughout the project area, providing excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid. In November 2022, Gladiator executed an option agreement to acquire 100% of the Whitehorse Copper Project by incurring exploration expenditure of $12m on the project, staged payment of $300,000 in cash and the staged issue of 15m shares over 6 years. Following the exercise of the Option, the Company must pay the Optionor, or such other person(s) as the Optionor may direct from time to time, a 1.0% net smelter returns royalty on the Whitehorse Copper Project.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, a "qualified person" as defined by NI 43-101.
Investor Relations
The Company has terminated its consulting agreement (the "Consulting Agreement") with GRA Enterprises LLC (the "Consultant"), a United States based investor communication and media services provider, effective April 21, 2023.
ON BEHALF OF THE BOARD
"Jason Bontempo"
Jason Bontempo
President and CEO
For further information contact:
Dustin Zinger, Investor Relations
+1-604-653-9464
dzinger@gladiatormetals.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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain of the statements and information in this news release constitute "forward-looking statements" or "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
Golden Independence Announces Acquisition of Yukon Mineral Claims
https://www.newsfilecorp.com/release/163565
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2023) - Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NNA) (the "Company" or "Golden Independence") is pleased to announce it has acquired a portfolio of quartz mining claims located in the eastern Yukon (collectively, the "Yukon Claims") previously held by Bearing Lithium Corp. ("Bearing"). The Yukon Claims are comprised of three projects covering almost 8,000 hectares, the HY-Jay, VBA and VM, all of which are located along the 50-kilometre Upper Hyland River Gold Belt. This belt of favourable stratigraphy, comprised of Upper Proterozoic to Lower Cambrian Hyland Group, is host to several high-grade, sediment-hosted orogenic gold vein occurrences.
"The acquisition of these claims for no material consideration represents an accretive transaction which provides optionality on an emerging gold district in the Yukon," commented Jeremy Poirier, CEO of Golden Independence. "While we are currently aggregating all the historical exploration data from these projects in order to determine the best next steps forward for the projects, as there are a number of very prospective high-grade samples that have not previously been followed up on."
Figure 1: Regional Map Showing Location of Projects
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7273/163565_809a92b054c6cbc0_001full.jpg
HY-Jay Project
The HY-Jay project is comprised of 198 claims covering an area of approximately 4,110 hectares located on the northwest corner of Seabridge Gold's 3 Aces project and adjoins Stratabound Mineral's Golden Culvert project to the west. Prior exploration has outlined three areas of anomalous gold in rock and soil (the Zig Zag, East Ridge and West zones), all of which occur in a similar geologic setting to those reported at the adjoining 3 Aces project. The West zone is characterized by a 1.4 kilometre north-northwest trending anomaly, with the East Ridge zone spanning some 0.9 kilometres-long located 800 metres east of the West Zone. Previous exploration at the West and East Ridge zones returned values greater than one gram per tonne gold from quartz veins hosted in metasediments, with one highlight value returning 144 g/t gold. Sampling from the Zig Zag zone returned significant gold assays from grab samples of quartz-arsenopyrite vein material collected from a large field of metasediment and phyllite sub-crop and float boulders, with results from seven grab samples ranging from 2.19 g/t gold up to a maximum of 47.0 g/t gold. (Source: Bearing Resources Ltd. News Releases dated 2011-Nov-24 and 2016-Nov-08)
The project has seen limited historical drilling with one three-hold program totalling 232-metres completed in 2005. The project is comprised of 48 claims for the HY project, which was acquired from Freeport-McMoRan Exploration in 2011 and the balance of the 150 claims were acquired through staking by Bearing Resources Ltd. A 2% net smelter royalty ("NSR") in the favor of Freeport remains on the HY claims, which can be reduced to a 1% NSR through a one-time payment of $1 million. The Jay claims are not subject to a royalty.
VM & VBA Projects
The VM project, comprised of 104 claims covering approximately 2,160 hectares, is located 20 kilometres northwest of the HY-Jay project. The VM property was staked to cover two stream drainages highlighted by favorable geology and coincident gold and arsenic anomalous (greater than 95 percentile) government regional geochemical survey samples (sample 813102: 53 ppb Au & 50.8 ppm As; sample 813104: 41 ppb Au & 22.0 ppm As).
The VBA project is comprised of 80 claims covering an area of approximately 1,660 hectares located 45 kilometres northwest of the HY-Jay project. The VBA project was staked to cover drainages highlighted by an 824.4 ppm arsenic (greater than 99 percentile) government regional geochemical stream sediment survey anomaly (sample 811614). Results from preliminary work completed at VBA identified a number of multiple station, coincident gold (33 of 265 samples above 17 ppb with a high of 405 ppb gold) and arsenic (23 of 265 above 45 ppm with an high of 14,000 ppm arsenic) soil anomalies. (Source: Bearing Resources Ltd. News Release dated 2016-Nov-08)
The VBA and VM projects are located adjacent to Trailbreaker Resources' Plateau project where drilling has intersected significant mineralization including 13.25 g/t gold over 17.5 metres at the Goldstack Zone and 7.6 g/t gold over 9.03 metres at the Gold Dome Zone. There are no underlying royalties associated with the VBA and VM claims.
Golden Independence cautions investors it has yet to verify the historical data and further cautions investors grab samples are selective by nature and are unlikely to represent average grades of sampling on the entire property.
About Golden Independence Mining Corp.
Golden Independence Mining Corp. is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the wholly owned Napoleon gold project located in the Kamloops Mining Division of BC and Yukon gold claims in the Watson Lake district of the Yukon. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold. The Napoleon project is comprised of over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970's with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.
The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo (British Columbia), a director and president of Golden Independence Mining and a qualified person under National Instrument 43-101.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier, Chief Executive Officer
Telephone: 1.604.722.9842
Email: info@goldenindependence.co
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the commencement of the exploration program at the Napoleon project and the exploration potential of the Yukon Claims. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.
White Gold Significantly Increases Inferred Resources by 41% at its Flagship White Gold Project and Reports 1,152,900 Gold Ounces in Indicated Resources and 942,400 Gold Ounces in Inferred Resources, Yukon, Canada
https://ca.finance.yahoo.com/news/white-gold-corp-significantly-increases-155100984.html
White Gold Corp.
Tue, April 25, 2023 at 8:51 a.m. PDT
Transition Metals Receives Class 1 Notification, Permitting Exploration Activities on its Pike Warden Au-Ag-Cu Project in the Yukon and Engages Media Services
Highlights
Class 1 Notification permit granted by Yukon Government
Summer field program to be announced
https://www.newsfilecorp.com/release/163001
Sudbury, Ontario--(Newsfile Corp. - April 19, 2023) - Transition Metals Corp (TSXV: XTM) ("Transition", "the Company") is pleased to provide an update on its Pike Warden Au-Ag-Cu Property located approximately 65 kilometres southwest of Whitehorse (Figure 1). The Company is in receipt of its approved Quartz Class 1 Notification for the Pike Warden project from the Yukon Government. This will allow the Company to execute exploration programs pursuant to Yukon Quartz Mining Act and Territorial Lands (Yukon) Act, which include prospecting, geological mapping, hand trenching, and percussion reverse circulation (RC) drilling across the property.
Pike Warden boasts 18 historic and recently discovered high-grade polymetallic showings, which are indicative of a large epithermal-porphyry system. Sampling across the property to date has returned up to 11,270 g/t Ag, 44.5 g/t Au, 7.49% Cu, and 59.6% Pb. Furthermore, maiden drilling at the ERT Zone completed by Transition returned up to 104.64 g/t AgEq* over 21.34 metres (see company news releases dated: January 16th, 2023). Note: *AgEq (Silver Equivalent) calculation based on gold and silver content with gold price of $1,800 per Oz Au and silver price of $23 per Oz USD; with lengths reported as drilled length.
In addition, the research work being carried out by Western University (see company news releases dated March 2nd, 2023), has demonstrated that the showings are all related to a single mineralizing event across the 37 km2 property. Final results from the Synchrotron Mineral Studies are expect soon and will be announced once finalized. Transition Metals' exploration team is eager to get back into the field this summer to continue working on this highly prospective project.
Exploration Plans for Pike Warden in 2023
The Company intends to complete a program of work consisting of systematic prospecting, mapping, and hand trenching across the property to follow up on results acquired in 2022. This work aims to further define and discover additional structural trends, alteration footprints, and zones of mineralization, particularly in the underexplored northern claims which were not worked in 2022. In addition, an RC drill program is also being considered, to further evaluate the extent of mineralization at the ERT Zone and additional high-priority showings on the property.
About the Pike Warden Property
The Pike Warden property is located approximately 65 kilometres southwest of Whitehorse, Yukon, and is composed of 185 contiguous mining claims totaling approximately 37 km². The property encompasses a combination of historic and recently discovered high-grade polymetallic gold, copper, and silver epithermal showings that are potentially indicative of a large epithermal-porphyry system in the vicinity of the Bennett Lake Volcanic Complex. In June 2022, Transition Metals Corp. entered into an option to acquire a 100% interest in the property from the Vendor in exchange for cash, shares and work expenditures over a four-year period (please refer to news release dated June 28, 2022).
Figure 1: Pike Warden Property Position with Polymetallic showings
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/163001_895d8430543a798b_002full.jpg
Investor Relations and Media Service Contract
The Company has engaged Mining Investor Resources Media Ltd., doing business as MiningIR.com ("MIR"), to provide the Company with media services through mining and resource news, lead generation services, social media services, and information company profile page for an initial period of 12 months beginning April 11, 2023, subject to the terms of the service agreement (the "MIR Agreement") executed between the Company and MIR. Pursuant to the terms of the MIR Agreement, MIR will be paid an aggregate cash amount of $39,000 for its services. Neither MIR nor its affiliates currently own any securities of the Company. MIR and the Company are unrelated and unaffiliated entities.
Qualified Person
The technical elements of this press release have been approved by Mr. Benjamin Williams, P.Geo. (PGO), who is a Qualified Person as defined under National Instrument 43-101.
Transition Metals Corp.
Transition Metals Corp. (TSXV: XTM) is a Canadian-based, multi-commodity explorer. Its award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder's equity dilution.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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.
Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777
CANTEX EXTENDS STRIKE LENGTH TO 2,350 METRES AND CONFIRMS ELEVATED GERMANIUM RESULTS ALONG 2,000 METRES OF STRIKE AT THE MAIN ZONE ON ITS 100% OWNED NORTH RACKLA PROJECT, YUKON
https://www.newswire.ca/news-releases/cantex-extends-strike-length-to-2-350-metres-and-confirms-elevated-germanium-results-along-2-000-metres-of-strike-at-the-main-zone-on-its-100-owned-north-rackla-project-yukon-882605753.html
Cantex Mine Development Corp. Apr 13, 2023, 09:00 ET
KELOWNA, BC, April 13, 2023 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF
NICKEL CREEK PLATINUM EXTENDS HIGH GRADE NICKEL-COPPER-PGE MINERALIZATION AT ARCH TARGET - DRILLS 2.57% Ni, 1.61% Cu AND 2.35 g/t TPM OVER 3.84 m
https://www.newswire.ca/news-releases/nickel-creek-platinum-extends-high-grade-nickel-copper-pge-mineralization-at-arch-target-drills-2-57-ni-1-61-cu-and-2-35-g-t-tpm-over-3-84-m-846202219.html
Nickel Creek Platinum Corp. Apr 11, 2023, 17:30 ET
Victoria Gold: Eagle Gold Mine Q1 2023 Operational Highlights
https://ca.finance.yahoo.com/news/victoria-gold-eagle-gold-mine-100000491.html
Victoria Gold Corp
Wed, April 5, 2023 at 3:00 a.m. PDT·7 min read
WHITEHORSE, Yukon, April 05, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX
Hecla Signs Definitive Agreement to Acquire ATAC Resources
https://ca.finance.yahoo.com/news/hecla-signs-definitive-agreement-acquire-100000267.html
Business Wire
Thu, April 6, 2023 at 3:00 a.m. PDT·4 min read
COEUR D'ALENE, Idaho, April 06, 2023--(BUSINESS WIRE)--Hecla Mining Company (NYSE:HL) ("Hecla" or the "Company") is pleased to announce that the Company has entered into a definitive agreement (the "Arrangement Agreement") with ATAC Resources Ltd. ("ATAC") to acquire ATAC and its Rackla and Connaught projects in Yukon, Canada.
Under the proposed transaction, the Company’s subsidiary would acquire all of the issued and outstanding shares of ATAC for a consideration of C$31 million, or 0.0166 Hecla share per share of ATAC (consisting of 3,693,516 common shares of the Company in aggregate). Hecla would also invest C$2 million in seed capital, equal to a 19.9% interest, for a new exploration company Cascadia Minerals Ltd. ("Cascadia"), which would be spun-out with certain properties to ATAC’s shareholders as part of the transaction. The total consideration to the ATAC shareholders, including the implied value for the shares in Cascadia (C$0.036/share), is C$39 million. The Hecla shares provide ATAC shareholders with a premium of 66% based on ATAC’s 20-day volume-weighted average price of C$0.0845 as of February 17, 2023, the last trading day preceding announcement of the letter of intent, or a 109% premium when including the value of Cascadia shares received.
The Transaction would give ATAC shareholders ownership in the largest silver producer in the U.S. and the projected soon to be largest Canadian silver producer, as well as exposure to increased liquidity and an enhanced capital markets profile. Hecla’s technical expertise, balance sheet strength, and location of assets in Yukon makes Hecla uniquely suited to advance the Rackla and Connaught projects.
"The acquisition of ATAC reflects the continued execution of our strategy of acquiring significant land packages in highly prospective and tier one mining jurisdictions," said Phillips S. Baker Jr., President and CEO. "The Rackla and Connaught projects would further consolidate our position in Yukon after our strategic acquisition of Keno Hill, which we are developing, and is expected to be the largest and the highest grade primary silver mine in Canada. We look forward to continuing our work with the First Nation of Na-Cho Nyäk Dun and the wider Yukon community."
Prior to entering into the Arrangement Agreement, the Company and its affiliates held no beneficial ownership or direction and control over any securities of ATAC. ATAC will be acquired by the Company’s wholly-owned subsidiary, Alexco Resource Corp. Concurrently with entering into the Arrangement Agreement, the Company has entered into voting support agreements with the directors and officers of ATAC and certain of its security holders, pursuant to which the securityholders party thereto are required to vote all of their shares of ATAC and securities convertible or exchangeable into shares of ATAC, as applicable, in favor of resolutions required to give effect to the transaction.
ATAC’s head office is located at Suite 1500, 409 Granville Street, Vancouver, British Columbia, V6C 1T2. The Company’s head office is located at 6500 N. Mineral Drive, Suite 200, Coeur d'Alene, Idaho, 83815-9408.
Cascadia
As part of the proposed transaction, the Company would make a C$2 million investment in Cascadia and would acquire (i) a right of first refusal to acquire any or all of the Cascadia Assets, and (ii) a number of units of Cascadia (the "Cascadia Units") such that it would own 19.9% of Cascadia’s issued and outstanding common shares following completion of the transaction. Each Cascadia Unit would contain one common share of Cascadia (a "Cascadia Share") and one warrant (a "Cascadia Warrant"). Each Cascadia Warrant would entitle the Company to purchase one additional Cascadia Share for a period of five years at the same price as a Cascadia Unit.
ABOUT HECLA
Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest silver producer in the United States. In addition to operating mines in Alaska, Idaho, and Quebec, Canada, the Company is developing a mine in the Yukon, Canada, and owns a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws, including Canadian securities laws. Words such as "may", "will", "would", "should", "expects", "intends", "projects", "believes", "estimates", "targets", "anticipates" and similar expressions are used to identify these forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230406005256/en/
Contacts
For further information, please contact:
Anvita Mishra Patil, Vice President – Investor Relations and Treasurer
Cheryl Turner, Communications Coordinator
800-HECLA91 (800-432-5291)
Investor Relations
Email: hmc-info@hecla-mining.com
Website: www.hecla.com
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The topic here is Resource extraction in the Yukon...
Yukon Mining Recorder -
http://www.yukonminingrecorder.ca/index.html
http://www.gov.yk.ca/
www.emr.gov.yk.ca/energy/energy_strategy.html
The Spell of the Yukon by Robert Service:
I wanted the gold, and I sought it;
I scrabbled and mucked like a slave.
Was it famine or scurvy, I fought it;
I hurled my youth into a grave.
I wanted the gold, and I got it --
Came out with a fortune last fall, --
Yet somehow life's not what I thought it,
And somehow the gold isn't all.
No! There's the land. (Have you seen it?)
It's the cussedest land that I know,
From the big, dizzy mountains that screen it
To the deep, deathlike valleys below.
Some say God was tired when He made it;
Some say it's a fine land to shun;
Maybe; but there's some as would trade it
For no land on earth -- and I'm one.
You come to get rich (damned good reason);
You feel like an exile at first;
You hate it like hell for a season,
And then you are worse than the worst.
It grips you like some kinds of sinning;
It twists you from foe to a friend;
It seems it's been since the beginning;
It seems it will be to the end.
I've stood in some mighty-mouthed hollow
That's plumb-full of hush to the brim;
I've watched the big, husky sun wallow
In crimson and gold, and grow dim,
Till the moon set the pearly peaks gleaming,
And the stars tumbled out, neck and crop;
And I've thought that I surely was dreaming,
With the peace o' the world piled on top.
The summer -- no sweeter was ever;
The sunshiny woods all athrill;
The grayling aleap in the river,
The bighorn asleep on the hill.
The strong life that never knows harness;
The wilds where the caribou call;
The freshness, the freedom, the farness --
O God! how I'm stuck on it all.
The winter! the brightness that blinds you,
The white land locked tight as a drum,
The cold fear that follows and finds you,
The silence that bludgeons you dumb.
The snows that are older than history,
The woods where the weird shadows slant;
The stillness, the moonlight, the mystery,
I've bade 'em good-by -- but I can't.
There's a land where the mountains are nameless,
And the rivers all run God knows where;
There are lives that are erring and aimless,
And deaths that just hang by a hair;
There are hardships that nobody reckons;
There are valleys unpeopled and still;
There's a land -- oh, it beckons and beckons,
And I want to go back -- and I will.
They're making my money diminish;
I'm sick of the taste of champagne.
Thank God! when I'm skinned to a finish
I'll pike to the Yukon again.
I'll fight -- and you bet it's no sham-fight;
It's hell! -- but I've been there before;
And it's better than this by a damsite --
So me for the Yukon once more.
There's gold, and it's haunting and haunting;
It's luring me on as of old;
Yet it isn't the gold that I'm wanting
So much as just finding the gold.
It's the great, big, broad land 'way up yonder,
It's the forests where silence has lease;
It's the beauty that thrills me with wonder,
It's the stillness that fills me with peace.
Yukon Prospectors:
http://www.emr.gov.yk.ca/mlv_jump.html
www.ivarkreuger.com/metalcharts.htm
www.emr.gov.yk.ca/1638.html#United_Keno_Hill_Mines
http://www.explorenorth.com/
http://www.explorenorth.com/library/linksoftheweek/bestofweek.html
http://www.emr.gov.yk.ca/
BC & Yukon Chamber of Mines -
British Columbia -
http://www.bc-mining-house.com/
The BC & Yukon Chamber of Mines supports and promotes the mineral exploration community and related services.
Roundup is the World's LARGEST technical mineral exploration conference -
http://www.amebc.ca/
FORTYMILE / MICKEY PLACER GOLD PROSPECT - and other - for option, joint venture or sale -
Contact: Grant Allen, Box 31486, Whitehorse, Y.T., Y1A 6K8,
Ph. 867-668-3367 - email: gallan@northwestel.net
World Resource Investment Conference -
June 7 - 8, 2008
Vancouver Convention and Exhibition Centre
http://www.cambridgehouse.ca/index.html
http://www.cambridgehouse.ca/ch_register.html
http://www.wildernessinquiry.org
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