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1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce the assay results from Thirteen (13) drill holes for 3,222.40 metres ("m") from the surface exploration drilling program currently in progress at the True North Project located on the Company's 100%-owned Rice Lake Gold property in southeast Manitoba, Canada .
Highlights:
- Drill results defined near-surface quartz vein hosted gold ("Au") mineralization on the San Antonio Southeast ("SAM SE") target
- A second drill rig has been mobilized and is currently drill testing the extensions of the San Antonio West target
San Antonio Southeast Target
- Drill results confirmed the southeastern extension of gold mineralization hosted within the prolific San Antonio mafic unit to depths of over 400 m and along a strike length of over 300 m , including:
- Drill hole TN-25-011 intersected 8.37 grams per tonne ("g/t") Au over 0.84 m at a down-hole depth of 277.74 m
- Drill hole TN-25-014 intersected 13.40 g/t Au over 0.69 m at a down-hole depth of 361.71 m
- Drill hole TN-25-021 intersected 14.00 g/t over 0.50 m at a downhole depth of 33.10 m , and 6.46 g/t Au over 2.20 m at a downhole depth of 60.10m , including 21.80 g/t Au over 0.50 m
- Drill hole TN-25-023 intersected 9.37 g/t Au over 0.50 m at a downhole depth of 37.00 m
- Drill hole TN-25-024 intersected 4.55 g/t Au over 1.00 m at a downhole depth of 73.00 m , and 14.50 g/t Au over 0.50 m at a downhole depth of 106.60 m
Shaun Heinrichs , President & CEO, stated, "This latest discovery is exciting not only because it is near mine and located within the same host rock unit that contains the prolific San Antonio zone, but also because the target is within the L-10 shear zone that hosts over 100,000 ounces where it intersects the shoreline basalt unit to the east. Our models also indicate that the L-10 shear zone extends to depth and contains the larger 710-711 vein resource, a step-out discovery on the "26 Level" in the True North mine. This is over 1,000 metres below surface, highlighting a large target zone between the near-surface mineralization intersected in these drill holes and the mineral resources at depth. Using these results and historical drilling data in the area, Michele and his team have designed a follow-up program to test for extensions of this mineralization along strike and to depth."
San Antonio Southeast target: Discussion of Results
The San Antonio Southeast target covers an area southeast of the historically mined San Antonio zone of the True North Gold Mine. The San Antonio Southeast target occurs within the gabbro of the San Antonio Mafic (SAM) unit at the intersection with the L-10 shear zone. The same geological setting hosts the 710-711 vein system, which contains a mineral resource inventory of 198,000 oz Au @ 5.21 g/t Au indicated and 118,000 oz Au @ 3.91 g/t Au ( see press release dated November 20, 2024 , "1911 Gold Announces Mineral Resource Estimate Update for the True North Gold Project") located on the "26 Level" of the True North underground mine at a depth approximately 1,000m below the current drill target area. The L-10 shear zone also hosts a gold mineralized vein system within the parallel Shoreline Basalt unit containing 58,000 oz Au @ 4.99 g/t Au indicated and 61,000 oz @ 3.96 g/t Au inferred resources.
Table 1: Select Significant Drill Hole Assay Results
Target Area (name) | Drill Hole (number) | From (m) | To (m) | Interval (m) | Au (g/t) |
SAM Southeast | TN-24-011 | 244.76 | 245.72 | 0.96 | 2.55 |
277.74 | 278.58 | 0.84 | 8.37 | ||
SAM Southeast | TN-24-14 | 361.71 | 362.40 | 0.69 | 13.40 |
369.85 | 371.70 | 1.85 | 2.52 | ||
SAM Southeast | TN-25-016 | 332.60 | 334.20 | 1.60 | 2.72 |
SAM Southeast | TN-25-021 | 33.10 | 33.60 | 0.50 | 14.00 |
51.60 | 57.20 | 5.60 | 2.52 | ||
Including | 51.60 | 53.00 | 1.40 | 5.13 | |
60.10 | 62.30 | 2.20 | 6.46 | ||
Including | 61.80 | 62.30 | 0.50 | 21.80 | |
SAM Southeast | TN-25-022 | 51.30 | 51.80 | 0.50 | 6.00 |
60.50 | 62.60 | 2.10 | 2.32 | ||
SAM Southeast | TN-25-023 | 37.00 | 37.50 | 0.50 | 9.37 |
41.30 | 42.20 | 0.90 | 2.41 | ||
SAM Southeast | TN-25-024 | 73.00 | 74.00 | 1.00 | 4.55 |
106.60 | 107.10 | 0.50 | 14.50 |
1) Intercepts above a cut-off grade of 2.25 g/t Au |
2) Maximum of 2.50 m internal dilution and no top capping applied |
3) Intervals represent drill core length and are considered to represent 60% to 90% of true widths |
4) Full Significant Assay Results included in Table 2 |
5) Drill hole Information included in Table 3 |
Drilling completed to date has confirmed the extension of gold mineralization to over 350 m east of the San Antonio zone, covering an area 300 m long and over 400 m to depth. Thirteen (13) holes for a total of 3,222.40 m have been sampled and analyzed to date within this target area, with one (1) hole, TN-24-012, being abandoned at 45.40 m without reaching the target zones and one hole TN-25-026 being drilled to the south and behind the target which did not test the up-dip extensions of mineralization. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au.
Mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, and chlorite alteration and up to 2% pyrite disseminated and in veinlets. They are interpreted to be related to a similar structural setting as the San Antonio zone vein system, which occurs at the intersection of the SAM gabbro unit and the L-13 shear zone. Historical drill testing of the SAM SE target resulted in drill assays of up to 2.16 m @ 12.90 g/t Au (AB-07-003), 3.20 m @ 6.25 g/t Au (AB-06-005 ) and 3.63m @ 4.01 g/t Au (AB-06-006) (see press release dated October 3, 2024 , "1911 Gold Initiates Surface Drill Program on New Exploration Targets at the True North Gold Project") . The current drill program is designed to test the continuity and extensions of the historically drilled zones. Drill results have confirmed the extension of the quartz vein-hosted gold mineralized system along strike to the East and down plunge, defining the potential to extend it even further at depth and to the East.
Next Steps
The exploration drilling results completed to date within the True North Gold Mine complex have successfully defined several new areas of gold mineralization and confirmed the near-surface extensions of gold mineralization for the San Antonio West, Hinge East and San Antonio Southeast target areas. Based on the results received to date and the additional new exploration targets that have been developed, 1911 Gold has expanded the current drill program and is now planning over 25,000 m of drilling in 2025. A second rig has been mobilized, and the drill program will continue to test the open extensions at San Antonio West and San Antonio Southeast and the Hinge East target, as well as other new targets.
Table 2: True North; Significant Drill Hole Assays
Target Area (Name) | Drill Hole (Number) | From (m) | To (m) | Interval (m) | Au (g/t) |
SAM Southeast | TN-24-011 | 244.76 | 245.72 | 0.96 | 2.55 |
257.76 | 260.00 | 2.24 | 0.97 | ||
263.00 | 264.50 | 1.50 | 1.64 | ||
277.74 | 278.58 | 0.84 | 8.37 | ||
SAM Southeast | TN-24-14 | 359.40 | 359.90 | 0.50 | 1.65 |
361.71 | 362.40 | 0.69 | 13.40 | ||
363.90 | 365.22 | 1.32 | 0.67 | ||
367.10 | 369.85 | 2.75 | 1.36 | ||
369.85 | 371.70 | 1.85 | 2.52 | ||
371.70 | 375.55 | 3.85 | 0.80 | ||
385.95 | 386.55 | 0.60 | 1.91 | ||
SAM Southeast | TN-24-15 | 347.57 | 348.07 | 0.50 | 0.74 |
371.95 | 372.51 | 0.56 | 1.83 | ||
385.55 | 386.55 | 1.00 | 1.70 | ||
SAM Southeast | TN-25-016 | 332.60 | 334.20 | 1.60 | 2.72 |
350.00 | 351.30 | 1.30 | 0.85 | ||
369.50 | 370.25 | 0.75 | 1.28 | ||
SAM Southeast | TN-25-017 | 212.40 | 213.00 | 0.60 | 0.80 |
SAM Southeast | TN-25-021 | 33.10 | 33.60 | 0.50 | 14.00 |
50.20 | 51.60 | 1.40 | 0.51 | ||
51.60 | 57.20 | 5.60 | 2.52 | ||
Including | 51.60 | 53.00 | 1.40 | 5.13 | |
57.20 | 58.00 | 0.80 | 0.73 | ||
60.10 | 62.30 | 2.20 | 6.46 | ||
Including | 61.80 | 62.30 | 0.50 | 21.80 | |
62.30 | 62.80 | 0.50 | 1.59 | ||
SAM Southeast | TN-25-022 | 34.20 | 35.40 | 1.20 | 1.21 |
47.30 | 48.50 | 1.20 | 1.46 | ||
51.30 | 51.80 | 0.50 | 6.00 | ||
58.90 | 59.40 | 0.50 | 1.95 | ||
60.50 | 62.60 | 2.10 | 2.32 | ||
SAM Southeast | TN-25-023 | 32.90 | 33.50 | 0.60 | 0.57 |
36.00 | 37.00 | 1.00 | 0.83 | ||
37.00 | 37.50 | 0.50 | 9.37 | ||
37.50 | 38.00 | 0.50 | 0.73 | ||
41.30 | 42.20 | 0.90 | 2.41 | ||
70.40 | 73.00 | 2.60 | 0.62 | ||
73.00 | 74.00 | 1.00 | 4.55 | ||
75.00 | 76.00 | 1.00 | 1.41 | ||
78.30 | 78.90 | 0.60 | 1.07 | ||
102.90 | 103.40 | 0.50 | 0.51 | ||
106.10 | 106.60 | 0.50 | 0.60 | ||
106.60 | 107.10 | 0.50 | 14.50 | ||
110.90 | 113.00 | 2.10 | 1.16 |
Drill hole TN-24-012 was abandoned before reaching target depths and drill hole TN-25-026 was drilled behind the target zone |
Update on Underground Access
During February, significant progress has been made in recommissioning the A Shaft on the True North underground mine, including lowering the skip to the "16 Level" (the target level for underground drilling) with no interruptions. Once the Company can safely lower a crew to the "16 Level" over the coming weeks, a further inspection will be completed to identify the work required and provide an updated timeline for the exploration team to gain access for underground drilling.
Table 3: True North; Drill Hole Details
Drill Hole | `Target (Name) | Northing* | Easting* | Elevation | Azimuth | Inclination | Depth | |
TN-24-011 | SAM-Southeast | 312762 | 5655528 | 250 | 175 | -65 | 326.0 | |
TN-24-012** | SAM-Southeast | 312762 | 5655528 | 250 | 183 | -48 | 45.4 | |
TN-24-012A | SAM Southeast | 312762 | 5655528 | 250 | 165 | -50 | 224.0 | |
TN-24-013 | SAM Southeast | 312588 | 5655595 | 256 | 152 | -65 | 338.0 | |
TN-24-014 | SAM Southeast | 312662 | 5655639 | 262 | 137 | -63 | 443.0 | |
TN-25-015 | SAM Southeast | 312662 | 5655639 | 262 | 137 | -66 | 440.0 | |
TN-25-016 | SAM Southeast | 312664 | 5655639 | 262 | 125 | -64 | 449.0 | |
TN-25-017 | SAM Southeast | 312793 | 5655442 | 254 | 187 | -60 | 293.0 | |
TN-25-021 | SAM Southeast | 312609 | 5655311 | 251 | 129 | -82 | 140.0 | |
TN-25-022 | SAM Southeast | 312609 | 5655311 | 251 | 218 | -45 | 101.0 | |
TN-25-023 | SAM Southeast | 312609 | 5655311 | 251 | 273 | -50 | 128.0 | |
TN-25-024 | SAM Southeast | 312609 | 5655311 | 251 | 122 | -49 | 194.0 | |
TN-25-026*** | SAM Southeast | 312555 | 5655327 | 252 | 232 | -45 | 101.0 | |
*Coordinates are provided in UTM NAD83 Zone 15 |
**Drill hole abandoned before reaching target depth |
***Drill hole drilled behind the target zone |
Quality Assurance/Quality Controls (QA/QC)
Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values greater or equal to 5.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold, depending on the amount of sample material remaining available. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat gold analyses for 5% of all submitted sample pulps conducted at a third-party certified laboratory.
Qualified Person Statement
The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera , P.Geo, Vice-President Exploration of 1911 Gold, who is a "Qualified Person" as defined under NI 43-101.
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario , and intends to focus on organic growth and accretive acquisition opportunities in North America .
1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Shaun Heinrichs
President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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.
All forward-looking statements contained in this news release are given as of the date hereof. The Company 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 in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE 1911 Gold Corporation
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