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1844 Resources Inc. (TSXV: EFF) ("1844" or the "Company") is outlining priority drill targets at its SV2 copper project in Québec's Gaspé Peninsula, following the completion and interpretation of a recent airborne geophysical survey.
The results provide a clear structural and geological framework for targeting and represent a key step toward execution of the Company's planned drill program.
"The results of this geophysical survey provide a clear framework for targeting across the SV2 system," said Sylvain Laberge, President & CEO of 1844. "We are now integrating these results with historical drilling to define priority drill targets as we move toward execution of our upcoming program."
Key Results
- Geophysical data confirms the presence of a structurally controlled hydrothermal system consistent with large-scale copper mineralization
- Strong magnetic responses correlate with known mineralization, supporting continuity of the system
- Structural corridors and fault systems have been clearly defined, providing pathways for mineralization
- Intrusive signatures identified at depth support the interpretation of a large-scale mineralizing source
- Radiometric data highlights alteration patterns and potassium enrichment associated with porphyry-style systems
Figure 1
(see Technical disclosure below)
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Exploration Significance
The integrated geophysical interpretation provides a clear framework for drill targeting across the SV2 project. Additionally, the identified structural corridors, intrusive centers, and alteration zones significantly enhance confidence in the Company's geological model and will guide the definition of high-priority drill targets. The combined magnetic and radiometric survey was flown by Prospectair Geosurveys of Gatineau, Quebec, and was overseen by Joël Dubé, P.Eng, an independent professional with Dynamic Discovery Geoscience.
Next Steps
- Final integration of geophysical, geological, and historical drilling data
- Definition of priority drill targets
- Preparation for upcoming drill program
Technical Disclosure
(Figure content)
A NI 43-101 compliant inferred resource estimate, completed by Claude Duplessis, Eng. of Goldminds Geoservices on February 2, 2017 (see report).
The mineral resource model was prepared using 349 historical drill holes, outlining three main copper-mineralized envelopes. Grade interpolation was performed using inverse square distance with a minimum of three composites based on 1.5-metre intervals. The model uses 5-metre cubic blocks (weighing 337.5 tonnes each) and an ellipsoid oriented NNW-SSE, with dimensions of 60 m × 40 m × 10 m.
The combination of both portions of the Sullipek Deposit—the Vallière and Vortex sectors—represents a historical mineral inventory that includes non-NI 43-101 compliant estimates. Notably, a 1993 Geostat study reported measured resources (Class II geological reserves) of 5.9 million tonnes grading 0.82% Cu. These historical estimates are not compliant with current standards, and therefore the mineralized material cannot be considered a current mineral resource.
The Qualified Person has not completed sufficient work to verify or classify the historical estimate as current, and therefore, the Company is not treating the historical estimate as a current mineral resource.
Additional work required to verify and potentially upgrade the historical estimate to current NI 43-101 standards would include the verification of historical drill data, quality assurance/quality control (QA/QC) validation, resampling of available core, twinning of selected holes, and updated geological and block modeling supported by modern analytical methods and database validation.
We believe the historical estimate provides a useful indication of the presence, grade, and continuity of mineralization, it is not compliant with current standards and should not be relied upon as a current mineral resource. It remains relevant for guiding exploration and targeting.
As reported in the August 10, 2012 press release, originally issued under Gespeg Copper Inc., drilling intersected 29.8 metres grading 0.94% copper (Cu).
About 1844 Resources Inc.
1844 is a Canadian exploration company focused on unlocking the value of strategic and energy-transition metals in the underexplored region of Gaspé, Québec. With a resolute leadership team and a forward-looking approach, 1844 aims to deliver long-term shareholder value through discovery and disciplined growth.
Qualified Person
Bernard-Olivier Martel, P. Geo, the Company's Director of Exploration, is a qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release.
For further information:
Sylvain Laberge, President & CEO
Tel: 514.702.9841
Email: slaberge@sdnlfinancial.com
FORWARD LOOKING INFORMATION
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
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