Blair Schultz Joins Board Of Directors
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Cassiar Gold Corp is engaged in the exploration of gold in British Columbia, Canada. The company is focused on two assets, the Cassiar Gold Project and the Sheep Creek Gold District.
Blair Schultz Joins Board Of Directors
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Canex Metals Inc. ("CANEX" or the "Company") (TSX-V:CANX) is pleased to announce a C$2.5 million private placement where Michael Gentile, CFA, will acquire a 10.5% interest in the outstanding common shares of the Company. In addition, Blair Schultz has joined the Company's Board of Directors
The Company is very pleased to announce that Mr. Michael Gentile, CFA, will be the lead investor in the financing and on closing will become an insider of the Company with 10.5% ownership. Mr. Gentile is considered one of the leading strategic investors in the junior mining sector, owning significant positions in over 15 small-cap mining companies. Michael is currently a strategic advisor to Arizona Metals (AMC-V) and a director of Northern Superior Resources (SUP-V), Roscan Gold (ROS-V), Radisson Mining Resources (RDS-V) and Solstice Gold (SGC-V). Michael recently co-founded Bastion Asset Management, an investment management firm based out of Montreal, Quebec and was previously a Senior Portfolio Manager with Formula Growth Limited.
"I was quite attracted to CANEX as it has the potential for a higher-grade oxide gold deposit with scale in the great jurisdiction of Arizona. It also has many of the other attributes I look for in a junior exploration company; Canex Metals has a solid geological team led by Dr. Shane Ebert, a strong capital markets advisor in Gordon Fernandes and augmented today by the addition of Blair Shultz to the board of directors and is complimented by a highly concentrated and supportive shareholder base. Finally, CANEX trades currently at a very modest valuation, this financing announced today will allow them to aggressively advance their Gold Range discovery and highlight its potential to the market" - Michael Gentile, CFA
Canex Metals is also pleased to welcome Mr. Blair Schultz to the board of Directors. Mr. Schultz will be participating in the current financing and will own 5.3% of CANEX shares upon closing. Mr. Schultz has over 25 years of capital markets and financial experience including senior executive roles and brings significant merger and acquisition experience to the board. Among his successes includes time spent at Klondex Mines (TSX: KDX) where he played an active role with the Board and Management orchestrating a recapitalization from an insolvent explorer into a producer, concluding with the sale of Klondex to Hecla Mining Company (NYSE: HL).
Mr. Schultz currently serves on the board of Solstice Gold (TSX.V: SGC) with previous board memberships which include Ring the Bell Capital Corp which was successful with an RTO transaction for Arizona Metals Corp. (TSX.V: AMC), Klondex Mines Ltd., Eastmain Resources, 1911 Gold, OK2 Minerals, and VMS Ventures Inc. Mr. Schultz began his career with K2 and Associates Investment Management Inc., one of Canada's top hedge funds. Mr. Schultz holds an Honours Bachelor of Mathematics degree from the University of Waterloo with a Business Administration option from Wilfred Laurier University.
"I'm really excited to be joining the Canex Metals team. I have been a shareholder for some time and the prospects of the Gold Range in Arizona really excite me. I look forward to lending my experience to the Board of Directors and I'm pleased that my appointment will add a third independent director" - Blair Schultz
Dr. Shane Ebert, President of Canex Metals, stated, "We are delighted to have Michael involved in CANEX, his support is a strong endorsement of the potential of our new gold discovery at the Gold Range Project in Northern Arizona and this strategic relationship will contribute to the success of the project for the benefit of all shareholders.
We welcome Blair Schultz to our Board of Directors, his extensive knowledge of capital markets, mergers and acquisitions, and junior exploration company management will be a great addition for the Company. Blair has worked on projects throughout Arizona and Nevada and his knowledge of operating in the Western USA and strong networks will be a tremendous asset in moving the Company forward."
With this financing completed, CANEX will be fully funded and will look to commence a large drill program that will seek to test the continuity of the 3.2 kilometer long by up to 500 meter wide oxide gold mineralized corridor at Gold Range. To date results from 68 drill holes have been received from the Gold Range project confirming oxide gold mineralization at 3 zones along the corridor. Recent soil and rock sampling has further expanded the target zones and has identified several parallel zones that remain to be drill tested. CANEX is waiting on the results of 28 reverse circulation drill holes.
Terms of Financing
CANEX is pleased to announce a non-brokered private placement of up to 19,230,769 units ("Common Units") at a price of $0.13 per Common Unit for gross proceeds of up to $2,500,000. The amount of the financing will not be subject to increase.
Each Common Unit will consist of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one common share at a price of $0.18 per share for a period of two years following closing. After a 6 month non-callable period the warrants will be subject to acceleration at the Company's discretion if at any time the Company's 20 day volume weighted average share price trades above 25 cents.
The shares will be offered on a non-brokered basis by way of private placement to accredited investors and any securities issued will be subject to a hold period of four months plus one day from the date of closing. This financing is subject to TSX Venture Exchange and regulatory approval. Proceeds of the financing will be used to drill test and further explore the Gold Range Property and for general working capital. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the subject matter of the Private Placement does not exceed 25% of the market capitalization of the Company as calculated in accordance with MI 61-101. No commissions will be paid to Agents on the financing.
The Company has granted, pursuant to its stock option plan, a total of 1,525,000 incentive stock options to new and existing directors, officers, and consultants of the Company. The options are exercisable at a price of $0.18 per share for five years, with a portion vesting over a two year period.
About Gold Range
The Gold Range project is a new bulk-tonnage oxide-gold target located within an underexplored metamorphic terrain in Northern Arizona. CANEX controls 5 kilometres of strike length along a highly prospective district scale structure where mineralization is being defined through surface sampling, mapping, and reverse circulation drilling. The main exploration target defined by surface work is 3200 metres long by up to 500 metres wide with multiple subparallel exploration targets identified. The target zone remains open along strike under basin cover. Drilling by CANEX has returned strong results including 1 g/t gold over 59.5 metres, 1.6 g/t gold over 35.1 metres, 2.2 g/t gold over 24.4 metres, and 0.3 g/t gold over 62.5 metres.
About Canex Metals
Canex Metals (TSX.V:CANX) is a Canadian junior exploration company with a new gold discovery at the Gold Range Project in Northern Arizona, and high silver and gold mineralization at the Gibson property in British Columbia. CANEX is led by an experienced management team which has made three notable porphyry and bulk tonnage discoveries in North America and is sponsored by Altius Minerals (TSX: ALS) the Company's largest shareholder.
Dr. Shane Ebert P.Geo., is the Qualified Person for Canex Metals and has approved the technical disclosure contained in this news release.
For Further Information Contact:
Shane Ebert at 1.250.964.2699 or
Jean Pierre Jutras at 1.403.233.2636
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.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Canex Metals Inc. internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause CANEX's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in CANEX's filings with the Canadian securities authorities. Accordingly, holders of CANEX shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.
SOURCE:Canex Metals Inc.
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Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company") is pleased to announce that it has acquired an option to earn a 100% ownership in the former Minto Gold Mine, Olympic and Kelvin gold prospects contained within a parcel of crown grants and mineral claims (the "Olympic Claims"). The Olympic Claims are located immediately adjoining and contiguous with the Company's previously owned Reliance Gold Property (the "Reliance Property") in southern British Columbia. The enlarged road-accessible Reliance Property, including the Olympic Claims, is located 4 kilometers ("km") east of the village of Gold Bridge, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.
Highlights of the transaction include:
The Olympic Claims are owned by Avino Silver & Gold Mines Ltd. ("Avino") and are located on the north and south shores of BC Hydro's Carpenter Lake Reservoir in the Bridge River Valley, east of the Royal Shear trend and the Company's current drilling focus. The year-round road-accessible acquisition increases the size of the Reliance Property to approximately 2,475 hectares, more than doubling the mineral rights controlled by the Company.
The Olympic Claims are underlain by "epizonal" orogenic-type gold targets that include the former producing Minto Mine that has produced 17,500 ounces of gold at an average grade of 6.3 grams per tonne ("gpt") gold prior to World War II. In addition, there are eleven historic government-documented mineral occurrences on the Olympic Claims which include the Minto North, Dauntless, Kelvin and Olympic gold prospects, many of which have also been explored with small underground workings prior to World War II. These prospects are associated with regional-scale structural deformation and/or iron carbonate alteration with analogies to the recent discoveries by the Company at the Eagle and Imperial zones, but on sub-parallel regional structures.
As examples of the gold potential of the Olympic Claims, in 2005 Avino reported 14.76 gpt gold over 9.0 metres ("m") (estimated true width of 4.5 m) from chip samples in trenching on the Minto North target. At the Olympic Target, 1988 drilling reportedly intersected 8.2 gpt gold over 3.48 m. As part of the Option, the Company intends to initiate an early-stage 2022 exploration program of systematic biogeochemical and soil sampling to help prioritize targets for future work.
Under the terms of the letter agreement with Avino, the Company can earn a 100% interest in the Olympic Claims for:
On vesting its ownership interest, the Olympic Claims will be subject to a 2% net smelter return royalty ("NSR"), of which 1% NSR can be purchased by the Company for $750,000 and the remaining balance of the NSR can be purchased for $1,000,000.
As part of the final requirement to earn its interest, the Company agreed to grant to Avino 750,000 share purchase warrants ("Warrants") by December 31, 2024 that offer Avino the option to purchase additional shares in the Company for a period of three years from the date of issuance. The exercise price of the Warrants will be set at a 25% premium to the 20-day VWAP share price at the issuance date. During the Option, if the Company is successful in defining a compliant mineral resource of at least 500,000 gold-equivalent ounces on the Olympic Claims then the Company will be obliged to pay Avino a $1,000,000 discovery bonus.
The Option agreement is subject to the TSX Venture Exchange acceptance, and any Shares or Warrants to be issued will be subject to a four-month hold period on issuance as per the policies of the TSX Venture Exchange.
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.
Robert T. Boyd, President & CEO
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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
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Lahontan Gold Corp. (formerly, 1246765 B.C. Ltd.) (the "Company" or "Lahontan") is pleased to announce the results from five core holes, totaling 1,368 metres, completed in 2021 at the Company's 19 km2 Santa Fe Project in Nevada's Walker Lane. These core drill holes explored down-rake and on-strike extensions to the high-grade BH Zone and shallow, potentially open pit minable, Au and Ag mineralization southeast of the past producing Santa Fe open pit. High-grade intercepts from the BH zone include
Highlights from shallow oxide drilling include:
A complete table of drill results from these five core holes is shown below, along with detailed descriptions of results, drill hole location maps, core photos, and a representative cross section.
Total Depth (m)
Au Eq (gpt)
Fresh and Transition
*Notes: Au Eq equals Au (gpt) + (Ag gpt/75). Metallurgical recovery has not been factored as insufficient test-work is available to determine potential Ag recoveries. True thickness in the BH Zone (drill holes SF21-001C, -002C, -003C, and -005C) is estimated to be 50-75% of the drilled interval; true thickness for the SE extension of shallow mineralization in SF21-004C is estimated to be 75-80% of the drilled interval.
BH Zone: Core drill holes SF21-001C, -002C, and -003C all targeted portions of the BH Zone with different objectives. SF21-001C was oriented to the southeast and angled to test a down-rake portion of the BH Zone and verify continuity of high-grade Au and Ag mineralization similar in tenor and thickness to that seen in historic core drill holes BH-3 and BH-6 drilled by Victoria Gold in 2009 and 2010 respectively. SF21-001C expands the volume and thickness of high-grade mineralization, in particular the 4.9 metre interval of 12.45 gpt Au Eq (please see cross section below). It is important to note the very high Ag grades which characterize the BH Zone, e.g. 0.8m grading 6.98 gpt Au and 201 gpt Ag (95.5 - 96.3m), 1.25m grading 5.17 gpt Au and 309 gpt Ag (131.64 - 132.89m), and 1.61m grading 15.04 gpt Au and 107.2 gpt Ag (176.78 - 179.22m), please see core photos below. The Company believes that a significant Ag byproduct in potential future mining operations could have an important impact on project economics. The hydrothermal alteration and mineralogy seen in SF21-001C is identical to that seen in previous drill campaigns (Lahontan has all the core, assays, and drill logs from the Victoria core drilling program for comparitive purposes) adding further confidence to the interpreted continuity of high-grade Au and Ag mineralization in the BH Zone.
SF21-001C, 96m depth, 6.98 gpt Au, 201 gpt Ag (9.66 gpt Au Eq). Jasperoid-sulfide hydrothermal breccia: Clasts are composed of black jasperoid in silica-sulfide matrix, the matrix has abundant colloform melnikovite (likely recrystallized to alternating pyrite and marcasite) with minor pods of interstitial calcite and occasional leached voids are present.
SF21-001C, 2.1m grading 11.81 gpt Au, 161.6 gpt Ag (13.96 gpt Au Eq) (178.6 - 180.7m). From the footwall of an intensely argillically-altered and brecciated (dacite?) dike: Jasperoid-sulfide hydrothermal and structural breccia, clasts are predominantly black to dark grey jasperoid that locally includes clasts of brecciated dike (white to light-grey).
Drill hole location map, Santa Fe Project, Mineral County, Nevada.
Core drill holes SF21-002C and -003C were collared approximately 150 metres and 245 metres southeast of SF21-001C respectively (please see map above). These drill holes were targeting high-grade, Au and Ag mineralization up-rake and along strike from the main BH Zone. The core drill holes hit significant zones of precious metal mineralization: 6.7m grading 2.37 gpt Au and 58.3 gpt Ag (3.14 gpt Au Eq) in SF21-002C (151.2 - 157.9m) and fill in gaps between historic drill holes (please see cross section below). This mineralization carries the distinctive geochemical signature of the high-grade BH Zone, elevated Ag grades: 1.62 m grading 2.64 gpt Au and 93.9 gpt Ag in SF21-002C (153.62 - 155.24m) and 2.5m grading 2.25 gpt Au and 28.5 gpt Ag in SF21-003C (135.9 - 138.4m).
North-south (left to right, please see map above) cross section through the BH Zone, Santa Fe Project, Mineral County, Nevada. The grade shell outlining the BH Zone is based upon modeling historic drilling, now confirmed and expanded by Lahontan drilling. Drill hole SF21-005C is projected into the section for illustrative purposes.
Based on these drill results and modeling historic drilling, it appears that the BH zone may consist of multiple, repeating or cyclic, down to the southeast raking zones, within the Santa Fe Fault and sympathetic structures. This interpretation greatly expands that target size of the BH Zone, especially given that older drill holes, located hundreds of metres to the south and southeast of SF21-003C have high-grade intercepts that have not been drill tested since the nineties, i.e., reverse-circulation drill hole CSF-89-19 cut 16.8m grading 6.10 gpt Au including 3.3m 11.65 gpt Au (please the Company's website and Corporate Presentation for more information on this drill hole; www.lahontangoldcorp.com ). These southeast extensions to the BH Zone have significant, high-grade, resource potential.
Shallow Drilling: Core drill hole SF21-004C targeted shallow Au mineralization to the southeast of the Santa Fe open pit (please see map and cross section above). Historic drilling in this area suggested that shallow, potentially open pit minable, Au and Ag mineralization extended into the target area. SF21-004C cut two intervals of shallow, low-grade Au mineralization with grades within the range that was historically mined at Santa Fe. Importantly, this mineralization occurs in rocks assigned to the oxide and "transitional" metallurgical domains (please see core photo below). The transitional metallurgical domain is characterized as a mixed zone of oxidized and partially oxidized Au mineralization that maybe cyanide extractable. Several additional reverse-circulation drill holes were completed late in 2021 in the vicinity of SF21-004C, results from these drill holes are expected shortly.
SF21-004C, 1.1m grading 1.03 gpt Au, 5.5 gpt Ag (1.10 gpt Au Eq) (64.8 - 65.9m). Jasperoid breccia: silicified and decalcified breccia clasts; clasts are subround to subangular silicified limestone with leached voids. The matrix is composed of geothite+hematite+jarosite clays.
New High-Grade Zone: Lahontan geologists, utilizing surface geological mapping, modeling of historic drill holes, and structural re-interpretation, developed a new drill target along an inferred east-west trending structure extending from the northeast highwall of the Santa Fe open pit toward the Slab and Calvada open pits located several kilometres to the east. Core drill hole SF21-005C, collared approximately 170 metres east of the edge of the Santa Fe pit, intercepted a deep, thick interval of Au and Ag mineralization (see drill hole location map and cross section above). Significantly, within this interval, there an important intercept of BH-style mineralization: 8.5m grading 3.13 gpt Au and 37.7 gpt Ag (261.7 - 270.2m), including 1.5m grading 5.11 gpt Au and 57.2 gpt Au (5.87 gpt Au Eq) from 262.8 - 264.3m. These intercepts have the same mineralogy, hydrothermal alteration, and elevated Ag content that characterizes the BH Zone. Given the potential strike length of this east-west fault (the Calvada Fault), the high precious metal grades, and the analogy to the BH Zone, this drill hole may represent a new discovery and target area at the Santa Fe Project. Two additional drill holes were completed east of SF21-005C late in 2021, results are pending.
Kimberly Ann, President & CEO commented: "The excellent drill results seen in our BH Zone drilling confirms what Lahontan has long expected: The BH Zone has the potential to host a large, high-grade gold and silver resource that could be potentially exploited with bulk underground mining methods. While these first drill results are focused on the deeper, higher grade BH Zone style mineralization, the Company looks forward to receiving additional drill results from shallower targets focused on potentially heap-leachable oxide and transitional style mineralization. SF21-004C targeted this style of mineralization and shows that shallow oxidized and transitional mineralization extends to the southeast of the Santa Fe pit, yet another new target for resource expansion at the Santa Fe Project. We expect to release drill results for an additional 23 drill holes over the coming weeks as assays arrive from the lab, QA/QC is completed, and data is verified. Truly an exciting time for Lahontan Gold Corp".
Lahontan conducts an industry standard QAQC program for its core and RC drilling programs. The QAQC program consisted of the insertion of coarse blanks and Certified Reference Materials (CRM) into the sample stream at random intervals. The targeted rate of insertion was one QAQC sample for every 16 to 20 samples. Coarse blanks were inserted at a rate of one coarse blank for every 65 samples or approximately 1.5% of the total samples. CRM's were inserted at a rate of one CRM for every 20 samples or approximately 5% of the total samples.
The standards utilized include three gold CRM's and one blank CRM that were purchased from Shea Clark Smith Laboratories (MEG) of Reno, Nevada. Expected gold values are 0.188 gpt, 1.107 gpt, 10.188 gpt, and -0.005 gpt, respectively. The coarse blank material comprised of commercially available landscape gravel with an expected gold value of -0.005 gpt.
As part of the RC drilling QAQC process, duplicate samples were collected of every 20th sample interval at the drill rig to evaluate sampling methodology. Samples were collected from the reject splitter on the drill rig cyclone splitter. Samples were collected at each 95- to 100-foot (28.96 - 30.48m) mark and labeled with a "D" suffix on the sample bag. No duplicates were submitted for core.
All drill samples were sent to American Assay Laboratories (AAL) in Sparks, Nevada, USA for analyses. Delivery to the lab was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and core samples consisted of Au analysis using 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing two acid digestion ICP-AES method. Tellurium analyses were performed on select drill holes utilizing ICP-MS method. Cyanide leach analyses, using a tumble time of 2 hours and analyzed with ICP-AES method, were performed on select drill holes for Au and Ag recovery. AAL inserts their own blanks, standards and conducts duplicate analyses to ensure proper sample preparation and equipment calibration. We have all results reported in grams per tonne (gpt)
About Lahontan Gold Corp:
Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 19 km2 Santa Fe Project, is a past producing gold and silver mine with excellent potential to host significant gold and silver resources (past production of 375,000 ounces of gold and 710,000 ounces of silver between 1988 and 1992; Nevada Bureau of Mines and Geology, 1996). Modeling of over 110,000 metres of historic drilling, geologic mapping, and geochemical sampling outline both shallow, oxidized gold and silver mineralization as well as deeper high grade potential resources. The Company plans an aggressive 25,000 metre drilling program with the goal of publishing a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate in 2022. For more information, please visit our website: www.lahontangoldcorp.com
All scientific and technical information in this press release has been reviewed and approved by Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., who is a qualified person under the definitions established by National Instrument 43-101.
Founder, Chief Executive Officer, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Cautionary Note Regarding Forward-Looking Statements:
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
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE:Lahontan Gold Corp.
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American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") continues to advance its British Columbia copper-gold porphyry project NAK. Charlie Greig who led the discovery of GT Gold's Saddle copper-gold deposit, is advising and executing American Eagle's exploration program at NAK. The Company is fully funded for NAK's 2022 exploration program and is awaiting its permit to begin drilling.
The planned drill program on NAK consists of 8 diamond drill holes totaling 4,500m targeting the newly identified geophysical feature within a well-understood copper-gold porphyry province. NAK's known copper-gold porphyry mineralization is open at depth, and the compelling deep geophysical signature is analogous to Newcrest's Red Chris Mine and Newmont's Tatogga project in northwest BC.
Interpretation of the historical geophysics data appears to delineate an underlying multi-phase porphyry source for the previously-drill-defined near-surface low-grade copper-gold mineralization. This interpreted porphyry is a potential source and host for a deeper high-grade orebody, which has never been drill-tested. The proposed 2022 drill program will test the top of the larger intrusive stock.
American Eagle is engaging with the local community stakeholders and working towards attaining a permit to begin drilling in the summer.
American Eagle Gold is traded on the TSX Venture Exchange under the symbol 'AE' and is focused on exploring its two properties, NAK and Golden Gate. NAK is in the Babine Copper-Gold Porphyry district in central British Columbia . Golden Gate is on the Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick and Newmont's Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The Property is 10 km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as the two deposit areas.
American Eagle's Vice President of Exploration, Mark Bradley , B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to exercise its option to acquire the Project as anticipated and whether the Company's exploration efforts on the Project produce the results that are anticipated by management. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedar.com .
SOURCE American Eagle Gold Corporation
View original content: http://www.newswire.ca/en/releases/archive/May2022/02/c9196.html
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