Green River Gold (CSE:C CR) is exploring for gold, as well as nickel, cobalt and talc, in the historically-prolific Cariboo gold district in British Columbia, Canada The company's highly prospective and potentially high-grade project feature excellent access to infrastructure, including roads, power and local talent.
The fully-owned Fontaine Lode Gold project spans 8,900 hectares and is located 12 kilometres from Barkerville which was the epicentre of the Cariboo Gold Rush in 1860. The Fontaine Lode Gold project is contiguous to Osisko's Cariboo Gold Project, which is anticipated to begin production in the latter half of 2023.
Green River Gold is led by a highly experienced management team over 60 years of combined technical experience and over 30 years of capital market experience. CEO Perry Little has an impressive 28-year-long successful career with extensive experience in financing junior resource companies and trading in the public markets.
The Cariboo gold district in British Columbia, Canada, was a world-class producer of gold, and site of the famous Cariboo Gold Rush between 1861 and 1867. The district produced approximately 3.8 million ounces (Moz) of gold after 1874, divided roughly evenly between hard rock gold and placer gold production valued at C$50 million.
Today, the Cariboo gold district remains a prospective and mining-friendly region with excellent infrastructure. Interest in the region has been renewed with recent transactions including the acquisition of Barkerville Gold Mines, now held by Osisko Development Corp. (TSXV:ODV).
Other notable names in the Cariboo gold district include Omineca Mining and Metals (TSXV:OMM) with its Wingdam Gold project, Imperial Metals' (TSE:III) Mount Polley mine and Taseko Mines' (TSX:TKO) Gibraltar mine. Mining companies with projects in the Cariboo gold district present investors with renewed discovery potential in a historically significant area.
According to Green River Gold (CSE:CCR) CEO Perry Little, "The hunt is on."
Green River Gold is exploring gold, as well as nickel, cobalt and talc, in the historically prolific Cariboo gold district. The company's highly prospective and potentially high-grade project features excellent access to infrastructure, including roads, power and skilled workers.
The fully owned Fontaine Lode Gold project spans 8,900 hectares and is located 12 kilometers from Barkerville which was the epicenter of the Cariboo Gold Rush in 1860. The Fontaine Lode Gold project is contiguous to Osisko's Cariboo Gold Project, which is anticipated to begin production in the latter half of 2023.
The Quesnel Nickel Cobalt Talc project is contiguous to the early-stage Fontaine Lode Gold project that spans approximately 2,219 hectares. The project has similar geological features to FPX Nickel's (TSXV:FPX) Decar Nickel District project, which some consider the third top nickel project in the world. Historic work on the Quesnel Nickel Cobalt Talc project suggests significant potential for all three minerals. In 2021, nine shallow holes were drilled revealing anomalous amounts of nickel, chromium and magnesium along with talc. Ongoing drilling showed two deeper holes with similar results.
The Kymar Silver project includes two mineral tenures spanning 1,440 hectares in southeastern British Columbia. It is located 28 kilometers west of Invermere in the Golden Mining Division in British Columbia. A historical bulk sample of Kymar Silver revealed high average grades of 2,000 g/t silver, 57 percent lead, 0.8 percent copper and 3.4 g/t gold. The property also features several past-producing artisanal mines.
Green River Gold has strategic positioning in highly prospective geological areas near past-producing mines. The Fontaine Lode Gold project features similar geology to Osisko Development Corp.'s Cariboo Gold project which it borders. The Quesnel Nickel Cobalt Talc project also borders Omineca Mining and Metals' Wingdam Gold project.
In an interview, CEO Perry Little shared, "Every hole drilled and every bit of exploration done by Osisko, Omineca or Green River will lead to a greater understanding of the regional geology."
Currently, Green River Gold is conducting exploration activities on its properties including bedrock mapping, geochemical exploration, ground geophysics and backpack drilling. Green River Gold is also in the process of applying for permits to commence reverse circulation and diamond drilling on its properties. The company is committed to producing a NI 43-101 technical report in a timely manner.
In 2023, the company acquired a 100-percent right, title and interest in the KaLi Pegmatite Project (KaLi), which consists of 1,059.5 hectares of land that dates back to the early 1960s when Noranda Exploration conducted the first comprehensive soil geochem survey over an approximate 5 kilometers by 1.5 kilometers wide area. Two other grassroots surveys were conducted by Amoco in 1974 and Norseman Mining Corp. in 1980 and in 1981, Placer Development Ltd. performed geochemical and geophysical surveys near the southwestern extent of the property. Exploration in the area was initially focused on molybdenum without specifically targeting lithium-bearing pegmatites in the area. The company's updates and proposed lithium exploration plans are underway.
Green River Gold is led by a highly experienced management team with over 60 years of combined technical experience and over 30 years of capital market experience. CEO Perry Little has an impressive 28-year-long successful career with extensive experience in financing junior resource companies and trading in the public markets.
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Developing Prospective Gold Projects in the Cariboo Gold District of BC
Effective immediately, Green River Gold Corp. is suspended pursuant to CSE Policy 3. The suspension is considered a Regulatory Halt as defined in National Instrument 23-101 Trading Rules. A cease trade order has been issued by the Alberta Securities Commissions.
For more information about Cease Trade Orders, visit the Canadian Securities Administrators Cease Trade Order database at www.securities-administrators.ca.
_________________________________
Les activités de Green River Gold Corp. sont suspendues immédiatement, conformément à la politique 3 de la CSE. Cette suspension est considérée comme une suspension réglementaire au sens du Règlement 23-101 sur les règles de négociation. Une ordonnance d'interdiction d'opérations a été émise par la Commission des valeurs mobilières de l'Alberta.
Pour de plus amples renseignements sur les interdictions d'opérations, visitez la base de données des interdictions d'opérations des Autorités canadiennes en valeurs mobilières à l'adresse www.securities-administrators.ca.
| Date : | Le 1 avril/April 2025 |
| Symbol/Symbole : | CCR |
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Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company") is providing this bi-weekly default status report in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").
On February 6, 2025, the Company disseminated a news release (the "MCTO Notice") disclosing that it had voluntarily applied to the Alberta Securities Commission (the "ASC") for a management cease trade order ("MCTO") as it was not able to complete and file its audited financial statements, CEO and CFO certifications, and management discussion & analysis (the "Annual Filings") for the year ended September 30, 2024 by the filing deadline of January 28, 2025. On February 6, 2025, the Company announced that the ASC granted the MCTO.
The Company confirms that since the date of the MCTO Notice: (i) there has been no material change to the information set out in the MCTO Notice that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms that its directors, officers and insiders cannot trade the Company's securities until the Annual Filings have been made.
The Company is working diligently with its auditors and to complete the audit of the financial statements for the year ended September 30, 2024. The MCTO stipulated that the Annual Filings were to be filed by no later than March 28, 2025, and the Company will be in a position to file the Annual Filings on or before that date. Until filing of the Annual Filings, the Company intends to satisfy the provisions of the alternative information guidelines as required by NP 12-203.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly-owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometres and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometres west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.
For more information contact:
Green River Gold Corp.
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca.
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct.
The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241753
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Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company") announces that it has requested a temporary Management Cease Trade Order ("MCTO") from the Alberta Securities Commission ("ASC") in connection with the Company's filing of its audited annual financial statements, management's discussion and analysis and the applicable CEO and CFO certifications in respect of such filings for the financial year ended September 30, 2024 (collectively the "Annual Filings").
The Company's financial statements have significantly increased in complexity over the last year due to the Company's expansion into a new line of business. The Company is requesting the MCTO in order to secure additional time for the Company's auditors to complete the audit of the financial statements for the year ended September 30, 2024.
Accordingly, the Company has applied to the ASC for the MCTO that will prohibit the management of the Company from trading in the securities of the Company until such time as the Annual Filings are filed. No decision has yet been made by the ASC on this application. The ASC may grant the application and issue the MCTO or it may impose an issuer cease trade order if the Annual Filings are not filed in a timely fashion.
The Company notes that:
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly-owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometres and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometres west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totalling 1,625 hectares, along the southeast flank of Mount Catherine.
For more information contact:
Green River Gold Corp.
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct.
The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238772
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PRESS RELEASE HIGHLIGHTS:
Green River will be entering the real estate development businesses, with a focus on the Edmonton and Northern Alberta region, beginning early in calendar 2025.
The Company's primary business will continue to be exploration and development of its mineral properties in British Columbia.
The new business will be a separate division involving a new senior manager with expertise and a track record of success in real estate development, particularly in the Edmonton region.
Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) ("the Company" or "Green River") has signed a letter of intent to work with an experienced Edmonton, Alberta based developer and rental property manager to develop real estate projects in the Edmonton region. The Company intends to invest primarily in multi-family residential units, including new building projects.
A final agreement with the Edmonton based developer and property manager is expected to be signed by February 15, 2025. Further announcements and details on planned projects will be announced as they are finalized.
Perry Little, President and CEO of Green River comments, "Green River is not abandoning its primary business of exploration and development of mineral properties in British Columbia. This diversification and expansion move is being made to generate cash flow and reduce our reliance on the capital markets for funding exploration. Having lived in Edmonton for the past 45 years, I have watched the residential real estate market go through many cycles. The City is currently experiencing rapid population growth as families move from other Provinces where real estate is priced considerably higher. The Edmonton market has not experienced the rapid price appreciation that has happened in parts of British Columbia and Southern Ontario in recent years. Prices are among the most affordable of the larger cities in Canada. Also, taxes are quite low compared to other Provinces, with Alberta remaining the only Province with no Provincial Sales Tax. Our initial focus will be on building smaller (8-plex) mult-unit rental properties for resale in established neighbourhoods. New zoning bylaws that came into effect at the beginning of 2024 have opened up an opportunity in that market segment. The developer and builder we will be working with have significant experience in that area of the market."
The Company expects to close within the next few days on its $900,000 convertible debenture offering which was announced late in 2024.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly-owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometres and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometres west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totalling 1,625 hectares, along the southeast flank of Mount Catherine.
For more information contact:
Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca.
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-Looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238293
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Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) ("the Company" or "Green River") is pleased to announce the completion of four drill holes for the 2024 season: WK-24-01, WK-24-02, WK-24-03, and DH-24-01. WK-24-01 to 03 were drilled with a portable Winkie drill rig (WK) using an AQTQ core barrel and DH-24-01 with a standard-sized diamond drill rig (DH) using an NQ barrel. The Company has received assay results for holes WK-24-01, WK-24-02, and WK-24-03. These holes were drilled along the Deep Purple magnetic anomaly at the Company's 100%-owned Quesnel Nickel Project, located 40 kilometres east of Quesnel, British Columbia, in the Cariboo Mining District of South Central British Columbia, Canada.
Green River Gold Corp. is pleased to report assay results for drill holes WK-24-01, WK-24-02, and WK-24-03 from the 2024 drilling season at the Quesnel Nickel Project. Significant Ni, Co, Cr and Mg concentrations commenced at the surface in all 3 holes drilled in the Slide Mountain Terrane ultramafic rocks. Hole WK-24-01, drilled to a depth of 100.58 meters, returned an average nickel grade of 0.185%, cobalt at 0.009%, chromium at 0.100%, and magnesium at 21.87%. Hole WK-24-02, drilled to a depth of 102.11 meters, reported an average nickel grade of 0.171%, cobalt at 0.009%, chromium at 0.124% and magnesium at 20.96%. Lastly, hole WK-24-03, with a depth of 62.48 meters, returned an average nickel grade of 0.189% ppm, cobalt at 0.008% , chromium at 0.119%, and magnesium at 21.27%.
Figure 1. Drill Collar Locations WK-24-01, WK-24-02, and WK-24-03.
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| Hole ID | Depth/m | Ni/% | Co/% | Cr/% | Mg/% |
| WK-24-01 | 100.58 | 0.185 | 0.009 | 0.100 | 21.87 |
| WK-24-02 | 102.11 | 0.171 | 0.009 | 0.124 | 20.96 |
| WK-24-03 | 62.48 | 0.189 | 0.008 | 0.119 | 21.27 |
Table 1. Assay results for WK-24-01, WK-24-02, and WK-24-03.
Drill hole DH-24-01 began in the Snowshoe Group-Ramos Succession, composed of compacted metasediments, sandstone, and conglomerate. It then intersected a different lithology which still belongs to the Ramos Succession, characterized by black phyllite, before encountering sulphide-bearing quartz veins containing pyrite and chalcopyrite. From 105.1 to 125.0 meters, the entire drill core was composed of quartz veins, with an associated sulphide content estimated at approximately 5%. Additionally, at a depth of 233.78 meters, the quartz vein section measured approximately 23.11 meters, predominantly hosted within the black phyllite. The quartz veins share a similar mineralogical characteristic with those from WK-23-01 (refer to the June 12, 2023 press release, https://greenrivergold.com/green-river-gold-provides-drilling-update-and-reports-assay-results-from-the-alteration-zone-of-drill-hole-wk-23-01-including-7583-grams-per-tonne-zinc-4340-grams-per-tonne-lead-5-3-grams-per-tonne/). The project geologist logged the drill core in the company's Quesnel facility and sent the samples to Actlabs in Kamloops for a multielement tracing level diagnosis.
Assay results revealed notable mineralization in gold and silver. The highest gold grade recorded was 0.761 g/tonne from 108.0 to 109.0 meters, followed by 0.568 g/tonne from 105.0 to 106.0 meters. Similarly, silver grades peaked at 14.7 ppm from 105.0 to 106.0 meters and 11.3 ppm from 115.0 to 116.0 meters. Elevated gold concentrations were also identified at 106-107 m (0.184 g/tonne Au), 115-116 m (0.292 g/tonne Au), 141-142 m (0.125 g/tonne Au), and 147-148 m (0.199 g/tonne Au).
Project Geologist Tyler Tian commented that the presence of pyrite, chalcopyrite, and elevated gold concentrations within the Snowshoe Group-Ramos Succession multi-quartz veins is highly encouraging. These veins exhibit a similar mineralogical characteristic to those in drill hole WK-23-01, indicating possible continuity in a potential mineralized system. The Eureka Thrust Fault runs closeby to this area, and it could potentially be associated with an orogenic deposit, similar to our neighbour Osisko Development Corp.'s Cariboo Gold Project. We plan to drill additional holes in the Snowshoe Group rocks to further explore and potentially discover orogenic gold associated with shearing along the Eureka Thrust Fault.
Figure 2. Drill collar locations WK-24-01 to 03 and DH-24-01.
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Figure 3 Cross-section of DH-24-01, showing lithology.
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Green River Gold Corp. will include 20 planned NQ diamond drill holes, comprising a 6,000-meter drilling campaign designed to core depths down to 300 meters. This phase aims to expand exploration along the 14-kilometer Slide Mountain Terrane strike length between and around Zone 1 and Zone 2 (see Figure 4). In addition, the 2025 program includes plans for extensive exploration work in Snowshoe Group rocks on the Fontaine Gold Project. This will involve bedrock mapping, soil and rock sampling, and a comprehensive geophysical program. Further details about these initiatives will be announced as they are finalized.
Figure 4. Quesnel Nickel Project, locations of zone one and zone two.
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Quality Assurance, Quality Control
An AQTK (35.5 mm or 1 3/8 in) and NQ (47.6 mm or 1 7/8 in) diameter core barrel was used for the 2024 diamond drill program at the Quesnel Nickel and Talc Property. The drill stem dips and azimuths were orientated at each collar location by a qualified geologist before drilling. Core samples selected for anaylses were generally between 0.6 and 1.5-meter intervals, depending on the identified lithology and mineralization style. The core was cut in half with a diamond core saw, with half of the core placed in sample bags and the remaining half securely retained in core boxes at Green River's office in Quesnel. The standard samples of high-grade (CDN-ME-2001) and low-grade (CDN-PGMS-29) nickel concentrations, repeat samples which returned from previous assaying, and blanks (BL-10) were systematically inserted into each batch of samples at regular intervals and submitted to MSA and Actlabs laboratory. The standard samples were purchased from CDN Resource Laboratories in Langley, British Columbia. The assay lab preparation procedure included crushing the entire sample to 80% passing 2 millimetres, riffle splitting 250 grams, and pulverizing the split to 95% passing 105 micrometres. Base metal analyses were determined using the four-acid digestion method with an ICP-OES finish. Gold analyses were determined using the fire assay method with an ICP-EM finish. Analytical results were verified with the application of industry-standard Quality Assurance and Quality Control (QA/QC) Procedures. The MSA Labs has an ISO 17025 certificate.
Qualified Person:
Stephen P. Kocsis (P.Geo) is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly-owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometres and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometres west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totalling 1,625 hectares, along the southeast flank of Mount Catherine.
For more information contact:
Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233506
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Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce recently received assay results from its ongoing 2025 diamond drilling campaign at its road accessible RC Gold Project ("RC Gold" or the "Project") located approximately 100 km east of Dawson City in Yukon's prolific Tombstone Gold Belt. Results from DDRCCC-25-076 ("Hole 76") returned 94.0 m of 1.15 g/t gold including 12.2 m of 4.55 g/t gold, and a separate interval of 25.0 m of 5.04 g/t gold, including 1.8 metres of 54.70 g/t gold within 86.4 m of 1.65 g/t gold (see Table 1). Drilling is currently underway at the Blackjack zone and up to 3 additional drill rigs are expected to begin turning in the coming weeks as part of a fully funded 30,000 metre diamond drilling program planned for 2025.
Table 1: Highlights from most recent assay results
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"The results from Hole 76 are very encouraging, confirming that the higher-grade gold mineralization intersected at depth in Holes 68 and 75 extends both laterally and to depth and could represent a large, continuous zone of significant tonnage," said Cor Coe, Director and CEO of Sitka Gold. "While Hole 76 was the deepest drill hole completed to date at RC Gold, with a length of 810.8 metres, assays from the bottom of the hole returned strong gold values within mineralized metasediments, indicating that gold mineralization likely extends even deeper. We are now extending Hole 76 further into the depths of this gold system to continue tracking this promising high-grade gold zone as we push towards what could be the source of the Blackjack gold deposit. With a fully funded 30,000 metre diamond drill program currently underway, which will more than double the total amount of our drilling completed at RC Gold to date, we're excited to test the depth potential of this impressive gold system and to begin exploring several other high-priority targets across the Clear Creek Intrusive Complex (see Figure 3)."
Figure 1: Cross Section of DDRCCC-25-075 and DDRCCC-25-076, which is the deepest hole drilled to date at the Blackjack zone. Hole 76 was drilled to a length of 810.8 m, approximately 100 metres deeper than any previous drilling and demonstrates that gold mineralization continues to persist laterally and at depth. Strong gold grades encountered at the bottom of the hole suggest this gold zone continues even deeper into the system.
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Figure 2: Plan map of drilling at the Blackjack Deposit showing the location of holes DDRCCC-24-068, DDRCCC-25-075 and DDRCCC-25-076 (this release).
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Figure 3: The Clear Creek Intrusive Complex in the western portion of the RC Gold Project is a cluster of intrusions all with known gold mineralization and numerous current drill target areas highlighted by the magenta hatched areas.
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Figure 4: Longitudinal section of completed drill holes at the Blackjack Zone. Higher-grade mineralization is defined in a southeast plunging mineralized corridor with gold grades increasing at depth, as observed with the increasing prevalence of higher-grade gold results in recently completed drill core (purple colour), and suggests that drilling is vectoring towards the source of this gold system. The pit-constrained mineral resource shell from the 2023 MRE is shown in orange with the added resources from the updated MRE published earlier this year shown in yellow (see news release dated February 26, 2025).
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Figure 5: Examples of drill core from the interval beginning at 492.0 m within the larger interval that reports 94.0 m of 1.15 g/t gold. Mineralization consists of abundant narrow sheeted veins cutting a feldspar megacrystic quartz monzonite intrusion.
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Figure 6: Examples of instances of visible gold observed throughout hole DDRCCC-25-076. Visible gold is found in sheeted quartz veins and is often associated with bismuthinite, scheelite, and arsenopyrite. Additional images of visible gold observed in Hole 76 can be viewed HERE.
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Table 2 - Summary of significant drill hole assays from this release
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DDRCCC-25-076
Drill hole DDRCCC-25-076 was drilled to a length of 810.8 m at an azimuth of -37o and a dip of -75o to step out from the high grade mineralization intersected in hole DDRCCC-25-075 which intersected 352.8 m of 1.55 g/t gold from 341.5 m including 108.9 m of 3.27 g/t gold and 45.0 m of 4.52 g/t gold. Hole 076 intersected several narrower zones of well-mineralized quartz monzonite cutting broad zones of altered metasediments along with several broad structural zone within the metasediments containing abundant cm-scale sheeted quartz veins with multiple occurrences (over 60) of visible gold. Hole 076 ended in 4.8 m of 0.86 g/t gold in sheeted veins cutting metasediments.
Quality Assurance/Quality Control
On receipt from the drill site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka's core logging facility. Sample lengths as small as 0.3 m were used to isolate features of interest, otherwise a default 2 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently) collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Sitka personnel at regular intervals into the sample stream. Bagged samples were placed in secure bins to ensure integrity during transport. They were delivered by Sitka personnel or a contract expeditor to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analyses completed in North Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an inductively coupled plasma mass spectroscopy (ICP-AES) finish on 50 g subsamples of the prepared pulp (ALS code: Au-ICP-22). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (ALS code: Au-GRA21). In addition, a 51-element analysis was performed on a 0.5 g subsample of the prepared pulps by an aqua regia digestion followed by an inductively coupled plasma mass spectroscopy (ICP-MS) finish (ALS code: ME-MS41).
About the Flagship RC Gold Project
The RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold grading 0.94 g/t gold in an inferred category at Blackjack and 440,000 ounces of gold grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company's website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022).
As of the end of 2024, the Company has drilled 72 diamond drill holes into this system for a total of approximately 25,136 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024). Drilling in 2025 includes hole DDRCCC-25-075 which intersected 352.8 metres of 1.55 g/t gold including 108.9 metres of 3.27 g/t gold. (see news release dated October 21, 2024).
A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold.
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The Property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t gold (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t gold at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the Florin Gold deposit with a current Inferred Mineral Resource of 170.99 million tonnes grading 0.45 g/t gold (2.47 million ounces; Simpson 2021)(4); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(5) and the Valley Deposit, with a current Indicated Mineral Resource of 4.05 million oz gold at 1.66 g/t gold and an additional Inferred Mineral Resource of 3.26 million oz at 1.25 g/t gold(6). The technical and scientific information disclosed from neighboring properties does not necessarily apply to the current project or property being disclosed.
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads...
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_202...
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022...
(4) Simpson R. Florin Gold Project NI 43-101 Technical Report. Geosim Services Inc. April 21, 2021. https://sedar.com/GetFile.do?lang=EN&docClass=24&i... d=4984158
(5) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/bany...
(6) Burrell H., Redmond D.J., Haggarty P., Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate, Yukon Territory, Canada. Snowline Gold Corp. May 15, 2024. https://snowlinegold.com
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with over $25 million in its treasury and no debt. 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 is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com.
The scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., Vice President of Exploration 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
For more information contact:
Donald Penner
President & Director
778-212-1950
dpenner@sitkagoldcorp.com
or
Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
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 and the Company's anticipated work programs.
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 and the results of the Company's anticipated work programs.
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.
Abcourt Mines Inc. ("Abcourt" or the "Corporation") (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to report new drilling results and an update on its activities at the Sleeping Giant mine.
In 2025, Abcourt completed 36 underground drill holes totaling 5,632 meters. Of these holes, seven target the 785N zone and the underlying areas for a total of 3,316 meters. This 785N zone is in a new sector to the east and at depth of the developed sectors of the mine. After releasing the results of two of these holes earlier this year, Abcourt is today releasing the results of two more holes, 78-888 and 78-890.
The highlights included in this press release are as follows:
Pascal Hamelin, President and CEO, comments: "Since underground drilling began in the fall of 2023, our goal has been to increase the quality and quantity of the mineral resources at Sleeping Giant. This drilling, along with the work accomplished by our Sleeping Giant team, has allowed us to build a solid financial plan for mine development and rapid production ramp-up. Indeed, our surface and underground infrastructure are in very good condition, which will allow us to quickly develop the mine towards a profitable production. Furthermore, we are very excited to see this new promising sector 785N near our underground infrastructure. We believe that we will be able to extend the life of the mine once it is in production."
The main results of holes 78-888 and 78-890 are displayed in Table 1:
| Table 1: Main Underground Drilling Results | |||||||
| DDH | From | To | Intervalle | Au | Vein | ||
| (m) | (m) | (m) | (g/t) | ||||
| 78-888 | 13.10 | 13.60 | 0.50 | 59.25 | Intervals up the 785N vein. | ||
| and | 87.00 | 87.80 | 0.80 | 10.17 | |||
| and | 144.40 | 145.00 | 0.60 | 27.13 | |||
| and | 285.40 | 286.00 | 0.60 | 9.24 | 785N vein | ||
| 78-890 | 273.50 | 275.40 | 1.90 | 24.30 | 785N vein | ||
| Including | 274.20 | 274.80 | 0.60 | 41.90 | |||
| Notes: | |||||||
| 1. The length represents the length measured along the drill core. | |||||||
| 2. Assay results are not capped, but higher-grade sub-intervals are highlighted. | |||||||
The main drilling results are illustrated in Figure 1
Figure 1: Main Results – Interception of 785N Zone.
Drilling data reveal:
Drilling work continues in the 785N zone. Results are being interpreted as they are received. Abcourt will publish all results following the first phase of work.
Alongside the program to enhance the deep mining potential of the Sleeping Giant Mine, drilling activities are currently underway in the upper part of the mine. These efforts aim to:
Renewal of the Drilling Contract with G4 Drilling
Abcourt has renewed the underground drilling contract with G4 Drilling and has requested the addition of a third underground drill rig. This rig will be designed for conventional mining requirements to facilitate movement and installation. This additional drill rig should be ready to drill in a few weeks to accelerate the conversion of our inferred resources to indicated resources and better define our production stopes if needed.
Progress of Financing Procedures
The standard due diligence review, the site visit by an independent team appointed by the potential lender, and the preparation of the final documents for the 8M USD loan are progressing according to the established schedule, marking a significant step forward in the development of mine. See the press release issued April 10 th for the details on the terms of the proposed loan. This review also provided an opportunity to highlight the strategic potential of Sleeping Giant's infrastructure, while confirming our team's exemplary preparation for the restart of operations.
Quality Control Measures (QA/QC)
The drilling and core description work was carried out under the supervision of Mohamed Haithem Bennia, geo, Superintendent Geology, qualified person according to Regulation 43-101.
The core is also oriented using high-precision digital tools (Reflex ACTIII) to provide a better understanding of the geological structure.
The quality assurance and control protocols for the analyses include the insertion of blank, standard and duplicate samples every 25 samples, in addition to the internal control of the laboratory samples.
The half-cores were prepared at the Sleeping Giant mine's internal laboratory according to industry standards.
The samples used in the preparation of this press release were analyzed by the MSALABS laboratory in Val-d'Or, Quebec, using the Photon AssayTM method. MSA operates numerous laboratories worldwide and maintains ISO-17025 accreditation for many metal determination methods. MSA is an ISO-17025 accredited laboratory for the Photon AssayTM method.
Qualified Persons
Mohamed Haithem Bennia, geo, superintendent geology of the Sleeping Giant mine, wrote, collected, verified and approved the technical information contained in this press release.
Pascal Hamelin, Eng, President and Chief Executive Officer of the Corporation, has verified and approved the technical information contained in this press release.
Mr. Hamelin and Mr. Bennia are qualified persons under Regulation 43-101.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill and the Flordin property, where it focuses its exploration and development activities.
For more information about Abcourt Mines Inc., please visit our website and view our filings under Abcourt's profile on www.sedarplus.ca .
| Pascal Hamelin | Dany Cenac Robert, Investor Relations |
| President and Chief Executive Officer | Reseau ProMarket Inc., |
| T : (819) 768-2857 | T : (514) 722-2276, poste 456 |
| Email : phamelin@abcourt.com | Email : dany.cenac-robert@reseaupromarket.com |
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could", "should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or results "may", "should", "will" or "be achieved" or other expressions Similar. Forward-looking statements are based on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public filings, which are available on SEDAR at www.sedarplus.ca . There can be no assurance that these 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. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward-looking statements or 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2395b913-1957-497d-ac0f-9f91fe93790e
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