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1844 Resources Inc. (TSXV: EFF,OTC:EFRSF) ("1844" or the "Company") is pleased to announce that it has received its Work Authorization for Impact (Authorisation de travaux d'impact, ATI) permit, a mandatory requirement in Quebec for exploration activities that may have environmental or community impacts. The ATI permit is issued by Quebec's Ministry of Natural Resources and Forests (MRNF) following consultations with the affected Indigenous communities and local municipalities. With this authorization, 1844 is fully compliant with provincial regulations and may proceed with its planned exploration activities.
This approval also enabled the Company to obtain the necessary drilling permit from the Ministry, authorizing the preparation and execution of a 3,000-metre drilling program on the Sullipek East portion of its flagship Vortex/Vallières Project.
Sylvain Laberge, President and CEO of 1844, states "We are delighted with the progress made on our flagship Vortex/Vallières project and are fortunate to benefit from the expertise of Bernard-Olivier Martel, our Qualified Person, who also serves in this capacity at the Gaspé Copper Mine." Mr. Laberge continues, "The receipt of this permit allows 1844 to resume its exploration work on the Vortex/Vallières Project. We thank Ms. Suzie Tremblay V.P. at Explo-Logik inc., Quebec's Ministry of Natural Resources and Forests, along with all local communities and Nations, for their collaboration in advancing these permits."
Vortex/Vallières Project
The Vortex Project is a copper, molybdenum, and gold property located 25 kilometres west of Murdochville. It consists of 60 claims covering a total area of 35 square kilometers.
- Sullipek East Showing:
In August 2012 a press release announced a discovery of 29 metres grading 0.94% Cu starting at 5.20 metres depth. The 3,000-metre drill program will allow us to build upon previous analytical results showing meaningful intervals, with three stratigraphic levels showing strong mineralization potential.
Figure 1
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- Lower contact of the Forillon Formation
29.8 m @ 0.94% Cu: DDH 11-V-04
21.0 m @ 0.13% Cu: DDH 11-V-01
35.7 m @ 0.18% Cu: DDH 11-V-05
1.9 m @ 0.54% Cu: DDH 09-K-04
- Upper contact of the carbonate-rich Indian Point Formation
10.3 m @ 0.57% Cu: DDH L89-1
1.2 m @ 0.24% Cu: DDH 11-V-04
9.0 m @ 0.15% Cu: DDH 11-V-06
- IP1 Horizon (a 20-40 m thick zebra limestone unit)
17.0 m @ 0.30% Cu: DDH 11-V-04
7.0 m @ 0.50% Cu: DDH 11-V-04
Figure 2
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- Sullipek Deposit:
A NI 43-101 compliant inferred resource estimate, completed by Claude Duplessis, Eng. of Goldminds Geoservices on February 2, 2017 (see report), defined 2,240,000 tonnes grading 1.09% Cu, representing approximately 24,000 tonnes of contained copper (1844's portion of the Sullipek Deposit).
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.
Figure 3
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- Geological Setting:
The project lies within a hydrothermal system approximately 1,000 meters in diameter. The outcropping rock, composed of porcelanite, belongs to the Forillon Formation and the Indian Point Formation. Mineralization, consisting of disseminated and veinlet sulfides, is mainly stratigraphically controlled in the area. It shows similarities to the Gaspé Mine and is classified as a porphyry/skarn copper type, with disseminated and veinlet/stockwork chalcopyrite, accompanied by pyrite, pyrrhotite, molybdenite, and gold.
- Geophysics:
Earlier this month, 1844 completed a high-resolution airborne MAG-SPEC geophysical survey over the property, with 50-metre line spacing. The survey data are currently being refined in the final processing phase and results will be released shortly.
Historical airborne EM surveys highlighted a conductive zone one kilometer wide, located within a network of NNW-trending faults. This zone includes a southeast-dipping sequence of geological units and has never been tested at depth.
About 1844 Resources Inc.: 1844 is a Canadian exploration company focused on strategic and energy-related metals in the underexplored region of Gaspé, Québec. With a dedicated management team, the Company's goal is to create shareholder value through the discovery of new deposits.
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.
(signed) "Sylvain Laberge"
Sylvain Laberge
President and CEO
514.702.9841
Slaberge@1844resources.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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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