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INITIAL DRILL PROGRAM DESIGNED TO EXPAND HISTORICAL SILVER RESOURCE, EVALUATE GOLD POTENTIAL AND TEST PRIORITY GOLD-ANTIMONY TARGETS
A2Gold Corp. ("A2Gold" or the "Company") (TSXV: AUAU) (OTCQX: AUXXF) (FRA: RR7) is pleased to announce that drilling has commenced at its Taylor Silver-Gold Project ("Taylor" or the "Project") located in White Pine County, Nevada.
The commencement of drilling at Taylor represents an important milestone for A2Gold following the Company's recently completed acquisition of the Project and the consolidation of key internal claims within the district. Taylor is now held as a unified district-scale land package under a single operator (see Map 1), providing A2Gold with enhanced flexibility to systematically explore and advance the Project.
The initial Taylor drill program consisting of 16-18 Reverse Circulation ("RC") holes for a total of 5,000 metres (see Map 2) is designed to advance three principal objectives:
- Expand the Existing Historical Silver Resource
Drilling will focus on areas within and adjacent to the existing historical silver resource footprint, with the objective of confirming and expanding known silver mineralization along strike and at depth. The Company intends to use results from this program to support the preparation of an updated NI 43-101 mineral resource estimate. - Evaluate Near-Surface Gold Mineralization
Taylor hosts significant oxide gold exploration potential across a large district-scale corridor. Prior exploration has identified a 3 km by 10 km anomalous gold corridor, with surface sampling and historical drilling indicating potential for near-surface oxide gold mineralization. Gold was not included in the historical 2018 silver resource estimate, and A2Gold believes there is an important opportunity to evaluate the potential contribution of gold mineralization to the broader Taylor system. - Test Priority Gold-Antimony and CRD Targets
The program will also begin testing priority gold-antimony targets identified through historical work, surface sampling, geological mapping and modern geophysical surveys. These targets are considered important to evaluating Taylor's potential as a precious metals project with meaningful critical mineral upside. The broader district also includes carbonate replacement deposit ("CRD"), skarn and porphyry exploration concepts that remain largely untested by modern drilling.
Peter Gianulis, CEO of A2Gold, commented: "The start of drilling at Taylor is an important moment for A2Gold. In a short period of time, we have acquired the Taylor Project, consolidated the district under one operator, and now moved directly into drilling. Taylor gives us a second district-scale Nevada project with an existing historical silver resource, meaningful gold potential, and an emerging antimony opportunity at a time when critical minerals are becoming increasingly important in the United States. We believe Taylor has the potential to become an important Nevada silver-gold project with multiple avenues for discovery and resource growth."
Qualified Person
John Marma, CPG, a Certified Professional Geologist with the American Institute of Professional Geologists and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this news release.
About A2Gold Corp
A2Gold Corp. has built a multi-asset gold-silver exploration platform in Nevada, one of the world's premier mining jurisdictions. The Company controls approximately 230 km² of prospective mineral tenure across its Eastside and Taylor projects, both district-scale assets with large precious metals resources with significant exploration and resource growth potential.
Eastside hosts an inferred mineral resource of 1.4 million ounces of gold and 8.8 million ounces of silver*, while Taylor adds a highly prospective exploration district with gold, silver, antimony and porphyry-skarn upside. Backed by a fully funded exploration program and a strong pipeline of catalysts, A2Gold is focused on unlocking value through resource expansion, new discoveries and systematic district-scale exploration.
A2Gold is also supported by a strong shareholder base, including Kinross Gold Corporation, which owns approximately 9.9% of the Company's issued and outstanding shares.
* Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project Technical Report, Esmeralda County, Nevada," prepared by Mine Development Associates of Reno, Nevada, with an effective date of July 30, 2021. Pit-constrained Inferred Resources, using a cut-off grade of 0.15 g/t Au, total 61,730,000 tonnes grading 0.55 g/t Au and 4.4 g/t Ag at the Original Pit Zone, representing 1,090,000 ounces of gold and 8,700,000 ounces of silver, and 19,986,000 tonnes grading 0.49 g/t Au at the Castle Area, representing 314,000 ounces of gold, using a gold price of US$1,725/ounce. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves.
On Behalf of the Board
Peter Gianulis, CEO
Certain statements and information contained in this press release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which are referred to collectively as "forward-looking statements." The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements.
Forward-looking statements in this news release include, but are not limited to, statements regarding A2Gold's exploration plans for the Taylor Project, the scope, timing and objectives of the drill program at Taylor, the potential expansion of the historical silver resource, the preparation of an updated NI 43-101 mineral resource estimate, the evaluation of gold mineralization, the testing of gold-antimony, CRD, skarn and porphyry targets, the potential contribution of gold and antimony mineralization to the broader Taylor system, the potential for Taylor to emerge as an important Nevada silver-gold project with critical mineral upside, and A2Gold's future exploration and development plans.
Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek," "expect," "anticipate," "budget," "plan," "estimate," "continue," "forecast," "intend," "believe," "predict," "potential," "target," "may," "could," "would," "might," "will" and similar words or phrases, including negative variations, suggesting future outcomes or statements regarding an outlook.
Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release.
Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled "Risk Factors" in A2Gold's Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR+ under A2Gold's profile. Actual results and future events could differ materially from those anticipated in such statements. A2Gold undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
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SOURCE A2 Gold Corp
