Gaia Metals Corp. (the “Company”) (TSXV:GMC)(OTCQB:RGDCF)(FSE:R9G) is pleased to announce that it has collared the first drill hole of its maiden diamond drill program at the Gold Dyke Prospect (“Gold Dyke”) on the Company’s Freeman Creek Gold Property (the “Property”). The Property is located approximately 15 km northeast of Salmon, Idaho, and hosts excellent access via …
Gaia Metals Corp. (the “Company”) (TSXV:GMC)(OTCQB:RGDCF)(FSE:R9G) is pleased to announce that it has collared the first drill hole of its maiden diamond drill program at the Gold Dyke Prospect (“Gold Dyke”) on the Company’s Freeman Creek Gold Property (the “Property”). The Property is located approximately 15 km northeast of Salmon, Idaho, and hosts excellent access via paved highway and a network of gravel roads and trails.
Following the receipt of drill permits and completion of the bond payment, the initial drill pad and site access has now been completed, connecting the main road to the drill area. Major Drilling America Inc. of Salt Lake City, Utah, has been engaged to carry out the diamond drill program at the Property. The initial drill program will be comprised of 5 – 6-holes for a total of 1,000 m of HQ coring focused on the Gold Dyke Prospect.
The Gold Dyke Prospect is the most advanced target on the Property, having been the subject of some initial shallow drill testing historically, with encouraging results. This includes two mineralized intercepts from rotary drilling completed in the 1980s by St. Joe American Corp., that were not followed-up on: 1.5 g/t Au and 12.1 g/t Ag over 44.2 m (RDH-8), and 1.7 g/t Au and 17.1 g/t Ag over 21.3 m (RDH-10). Mineralization in drill hole starts from surface, extending to at least 50 m depth, and remains to be followed-up with additional drilling. The current drill program will include a twinning of the historical rotary drill hole RDH-8 and will also test other targets in the area developed from the recent surface exploration.
Gaia Metals’ President & CEO commented: “We are excited to have the drill rig turning at the Freeman Creek Gold Property. In just a few short months from acquiring the project, we have efficiently and confidently defined our initial drill targets to get a better understanding of the potential the project hosts. The Freeman Creek Property is located within a prolific region of Idaho and is in close proximity to Freeman Gold’s Lemhi Project, as well as Revival Gold’s Beartrack & Arnett Projects. Idaho has been great jurisdiction to work in; no wonder why it is ranked #8 in the world and #3 in North America for investment attractiveness by the Fraser Institute in its 2019 Mining Survey. We are looking forward to positioning ourselves in this attractive, pro-mining & pro-business state.”
Collectively, the 2020 sampling at Gold Dyke has outlined a prospective area considerably larger than previously recognized and includes numerous sample assays ranging from 0.5 to 10.9 g/t Au and 1 to 292 g/t Ag (+/- Cu). Mineralization at Gold Dyke is hosted by strongly silicified meta-sediments with common vugs, quartz veining, and minor sulphides (pyrite, chalcopyrite). The Gold Dyke area may be directly accessed by secondary gravel roads and is located on BLM lands outside of US Forest Service Lands and other protective areas.
Figure 1: Map summarizing the 2020 sampling data at the Gold Dyke Prospect of the Freeman Creek Gold Property
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration for the Company and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Gaia Metals Corp.
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals, including platinum group elements, and lithium.
The Company’s flagship asset is the Freeman Creek Gold Property, located in Idaho, USA. The Property hosts two major advanced targets; the Gold Dyke Prospect, with an historical drill intercept of 1.5 g/t Au and 12.1 g/t Ag over 44.2 m (RDH 8), and the Carmen Creek Mine Prospect, with an historical outcrop sample assay of 14.15 g/t Au, 63 g/t Ag, and 1.2% Cu.
Additional assets include the wholly owned Corvette Property, and the FCI Property (held under Option from O3 Mining Inc.) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
On Behalf of the Board of Directors,
Adrian Lamoureux, 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.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.