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Flow Metals Corp. (CSE: FWM) ("Flow Metals" or the "Company") is pleased to announce that the Yukon Government has granted a 10-year Class 3 Quartz exploration permit for the Sixtymile Gold Project. The permit authorizes extensive mechanized exploration activities in one of the most historically productive placer gold districts in the Yukon.
The Class-3 permit allows:
- Up to 100 diamond drill holes per calendar year
- Up to 5km of mechanized trenching and soil sampling
- Construction and upgrading of access roads and trails
"Receipt of the Class 3 permit follows collaborative engagement with local stakeholders and with both the Government of Yukon and Trʼondëk Hwëchʼin Government," said Scott Sheldon, President of Flow Metals. "With key approvals in place, we intend to commence systematic drilling on priority gold targets in the district."
Sixtymile Project
The Sixtymile district has produced placer gold since the 1890s and remains active, with ongoing operations recovering angular and crystalline gold. Flow Metals' mineral claims cover key drainages that historically yielded placer gold, including Bedrock, Miller, Glacier, and Little Gold creeks.
Recent work by Flow Metals has mapped and drill-confirmed a mineralized thrust fault and deformation system running for at least nine kilometres across the property. Brittle-ductile deformation is observed within Klondike schist and underlying Nasina schist. Gold-in-soil anomalies up to 1.18 g/t (RDU SM I029450) and historical drill intercepts up to 105.3m @ 0.51g/t Au from 88m (including 24.07m @ 1.57g/t Au from 141.93m) (DDH_11-18) indicate the structure is gold bearing. The historical results are cited for context, have not been verified by the Company to current NI 43-101 standards, and should not be relied upon as current mineral exploration results.
With the structural framework now better constrained, Flow Metals intends to focus on delineating higher-grade zones that may explain the district's placer endowment. The 10-year permit enables systematic drill testing of these targets for the first time on a multi-year basis.
Planned Exploration
Initial work under the permit is expected to include:
- Oriented diamond drilling along the mapped thrust-fault system where gold mineralization has been confirmed.
- Expanded soil geochemistry and mechanized trenching to expose and sample new structural and geochemical targets.
- Selective access construction and upgrades to reach previously untested ground and support mapping, sampling and drilling.
All activities will be conducted in accordance with Yukon Class 3 environmental requirements, with progressive reclamation and continued engagement with local communities and Trʼondëk Hwëchʼin.
Qualified Person
Harley Slade, P. Geo., is the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and approved the technical information contained in this news release. Mr. Slade is Flow Metals Vice President of Exploration and a director of the Company.
About Flow Metals
Flow Metals is a Canadian mineral exploration company focused on grassroots copper and gold discovery in mining-friendly jurisdictions. New Brenda is a copper-silver-molybdenum porphyry project in British Columbia's Quesnel terrane and Sixtymile is a Yukon gold project in the historic Sixtymile gold district.
Reference:
Soil sample: RDU SM I029450 from 2010.
Citation: (R. Hulstein, 2010. AR 096208) link SIXTY MILE Property-2010 Geological, Geochemical, Geophysical and Auger, RAB and Diamond Drilling
Drill intercept: DDH_11-18
Citation: (R. Hulstein, 2011. AR 096256) link Report on the Sixty Mile Property 2011 Geophysical Survey & Diamond Drilling
For further information, please contact:
Scott Sheldon, President
604.725.1857
scott@flowmetals.com
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements related to the Company's exploration plans, the potential for mineralization at its properties, the interpretation of geological and geophysical results, the timing and outcome of permitting processes, and other future plans, expectations, or objectives of the Company.
Forward-looking information is based on a number of assumptions that the Company believes are reasonable at the time such statements are made, including assumptions regarding: the availability of financing for exploration and development activities; the ability to obtain necessary regulatory approvals; anticipated geological interpretations and exploration results; and general business and economic conditions.
Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking information. Such risks and uncertainties include, among others: exploration risks, operating risks, commodity price volatility, market conditions, regulatory and permitting risks, and other risks described in the Company's public disclosure documents available under the Company's profile at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking information. All forward-looking information contained in this release is made as of the date of this release, and the Company disclaims any intent or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270980
