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Decade Resources Ltd (TSXV: DEC,OTC:DECXF) ("Decade") reports that it has started exploration on the North Mitchell Property located 70 km north of Stewart BC. The North Mitchell Property is situated amongst several of the world's most significant Cu-Au deposits within the "Golden Triangle" of northwestern British Columbia. The property consists of 963.45 ha (9.63 square km) surrounded by Cu-Au deposits on three sides.
Map 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3615/263697_0fcad4cc14b6e9da_001full.jpg
The map shows the location of the North Mitchell Property relative to mineral deposits in the claim area. The combined number of ounces of reported gold within 8 deposits situated in 3 directions around the North Mitchell Property (measured, indicated + inferred) is estimated at 201.67 million oz+/- as follows:
1) KSM's Iron Cap deposit is located within 2 km, with a combined resource of 36.1 million oz Au
2) KSM's Snowfield deposit is located within 2.9 km, with a combined resource 34.9 million oz Au
3) KSM's Kerr, Sulphurets, Mitchell deposits, total a combined 88.3 million oz Au, located 8.8 km, 5.5 km & 3.6 km from North Mitchel respectively
4) Tudor Gold's Treaty Creek deposit is within 5 km, with a combined 27.87 million oz Au
5) Newmont's Brucejack & Valley of Kings deposits are within 6.4 km, with a combined 14.5 million+ oz Au (one of the highest grade gold mines in the world)
These estimates do not include the hundreds of millions of reported ounces of silver and billions of pounds of copper included within these deposits.
Disclaimer: The above information has been obtained from available public sources and is being used for reference purposes only. There is no guarantee that the North Mitchell property hosts any mineralization similar to the above deposits.
Decade has the right to earn a 70% undivided interest in the property by making the following payments to the Optionor (collectively, the "Option Payments"), as follows:
| Date Of Option Payment | Shares Issued Optionee | Ownership Optionor |
| Upon Effective Date | 2,937,713 | 1.98% |
| On or before 1st anniversary of Effective date | 2,937,713 | 3.996% |
| On or before 2nd anniversary of Effective date | 2,937,713 | 5.994% |
| On or before 3rd anniversary of Effective date | 2,937,713 | 7.992% |
| On or before 4th anniversary of Effective date | 2,937,713 | 9.990% |
Upon the completion of all the above share payments Decade and Optionor will enter into an agreement granting a 1% net smelter returns royalty (the "NSR") in favour of the Optionor. Half of the Optionor's interest in the New NSR (being a 0.5% net smelter returns royalty) may be purchased by Decade upon payment of $3,000,000 within 12 months before the date any commercial production commences on the property. Shares issued pursuant to this agreement will be subject to a four (4) month and one (1) day resale restriction from the date of issuance of the applicable Optionee Shares pursuant to National Instrument 45-102 – Resale of Securities. Decade has the right to purchase the 30% Interest from the Optionor at a price equal 2/3 of the value of the 30% Interest based upon a 5% discounted net present value report based upon proven and probable ore reserves as defined by a feasibility report.
Map 2
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3615/263697_0fcad4cc14b6e9da_002full.jpg
Of particular interest is Tudor drill hole PS-23-10 drilled towards the property as seen in the map above. This is the description of the drill-hole copied from a October 31st, 2023 News Release: "PS-23-10: Drilled at a relatively shallow dip to the south to explore for extension of the mineralized zone encountered in drill hole PS-23-07. This hole intersected 102.15 m of 1.28 g/t AuEQ (1.23 g/t Au, 3.43 g/t Ag, 0.01 % Cu) including two enriched zones comprising 42.5 m of 1.87 g/t AuEQ (1.80 g/t Au, 5.76 g/t Ag, 0.02 % Cu), and 25.5 m of 1.60 g/t AuEQ (1.58 g/t Au, 1.81 g/t Ag, 0.01 % Cu). Further downhole a high-grade vein zone was intersected and returned 1.5 m of 24.70 g/t gold. These results are the highest gold grades seen at PSZ to date and they are located between the Goldstorm Deposit, 3 km to the northeast, and Seabridge Gold's Iron-Cap Deposit, 2.5 km to the southwest."
The initial program will consist of talus fines sampling, mapping and geochemical sampling.
Ed. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the Company and is responsible for and approves the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca. For investor information, please call 250-636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF Decade Resources Ltd.,
"Ed Kruchkowski"
Ed Kruchkowski, President
"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."
"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263697
