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GoldInxs Mining Corp. ("GoldInxs," or the "Company") (TSXV: INXS,OTC:INXGF) is pleased to announce the successful completion of a helicopter-supported field program at the Company's Millar Project, a 345-hectare exploration property located within British Columbia's world-renowned Golden Triangle, located Northwest of Contango Silver & Gold's Kitsault Valley Project (the Dolly Varden Trend).
The August exploration program focused on the "White Linears" area of the Millar property (Figure 1), where the field team completed geological mapping, prospecting, structural observations and rock sampling. The program identified multiple areas of quartz veining, shearing, brecciation, alteration, and gossanous oxidized units along with other visible mineralization indicators, further supporting the Company's exploration thesis at Millar.
Successful Work Program Identifies Multiple Areas of Quartz Veining, Alteration and Mineralization
The completed field program documented a range of geological features including:
- Sheared volcanic quartz veining, with structural measurements recorded during mapping;
- A quartz vein approximately 1.5 metres wide, with an observed strike of approximately 110° steeply dipping;
- A quartz-intrusive vein approximately 12 inches wide and traceable for over 30 metres;
- Identified several smaller quartz veins and veinlets associated with areas of oxidation staining;
- Observed chloritized vein margins and host rock alteration, including qtz/calcite-bearing veining;
- Gossanous material in situ, including gossanous volcanics associated with mineralization;
- Examined recently exposed rusty, oxidized and altered volcanic and gabbroic rock outcrops; and
- Confirmed several linear geological features within the "White Linears" area.
Several representative rock and float samples were collected from the various observed geological features for further analysis and assay. The field observations were consistent with several of the geological characteristics previously identified by GoldInxs at Millar, including the potential for both vein-hosted precious-metal and skarn-style mineralization.
Against this backdrop, Millar exhibits several of the geological characteristics that warrant systematic follow-up, including further methodical prospecting of the Hazelton Group volcanic rocks, widespread quartz veining, hydrothermal alteration, gossanous material and anomalous Au-Ag-Cu-Pb-Zn mineralization. The recent fieldwork has confirmed the presence of multiple quartz-vein, shearing, brecciation and alteration features in the "White Linears" area, with assays pending (Figure 1).
Figure 1: Millar Property – White Linears Area
Figure 2: Millar Property - Brecciated Volcanic Quartz Vein
Jurisdiction: Positioned Along a Highly Prospective Golden Triangle Mineral Trend
Millar sits within a broader structural and metallogenic corridor within the Golden Triangle and is positioned northwest of the Kitsault Valley Project, a region characterized by significant historical mineral production and numerous precious and base-metal deposits (Figure 5). The Company is applying systematic modern exploration techniques to the under-explored property with the objective of defining a more robust geological model and identifying high-priority targets for follow-up exploration. The surrounding region has a long history of high-grade production, including more than 20 million ounces of historical silver production from the Dolly Varden and Torbrit mines, more than 3.3 million ounces of gold and 160 million ounces of silver from Eskay Creek, and significant historical gold and silver production from the Premier/Silbak Premier district. The proximity of the Millar project to other deposits does not mean similar mineralization or resources will be found on the property.
GoldInxs' existing interpretation of Millar identifies extensive quartz veining, iron-oxide alteration and anomalous gold, silver, copper, lead and zinc associated with sulphide-bearing quartz veins, supporting the potential for multiple mineralization styles, including vein-hosted precious-metal and skarn-style systems.
The recently completed field program provides additional surface information to build a more detailed geological understanding of the Millar property through defining the distribution, orientation and structural controls of quartz veining and alteration. GoldInxs will integrate the new geological observations, structural data and assay results with existing exploration data to further refine priority targets.
Analytical results from the field program have not yet been received and no conclusions regarding grades or economic mineralization can be drawn at this time, there can be no assurance that the samples collected will return economically significant grades or support the identification of a mineral resource.
Figure 3: Millar Property - Quartz Contact Mineralization
Figure 4: Millar Property - Northern edge of the main diorite / intrusive body
Figure 5: Millar Property – Regional Positioning in Golden Triangle
Qualified Person
The technical information in this news release has been reviewed and approved by Darcy Vis, P.Geo., Vice President of Exploration of GoldInxs Mining Corp., and President of Tripoint Geological Services Ltd., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Vis has verified the data disclosed in this news release through data review including the sampling, analytical and test data underlying the information.
Authorised for release by the Board of GoldInxs Mining Corp.
About GoldInxs
GoldInxs Mining Corp. (TSXV:INXS,OTC:INXGF) is a Canadian mineral exploration company focused on discovering and advancing high-quality gold and copper projects in British Columbia. The Company's flagship asset is the Fishpot Property, a large epithermal gold system in central British Columbia with Blackwater-style exploration potential, and in the same region as Artemis Gold's Blackwater Mine and Evolution Mining's optioned Clisbako property. GoldInxs also holds the Millar Property in the Golden Triangle. The Company is listed on the TSX Venture Exchange under the symbol INXS and is led by an experienced management and technical team committed to disciplined exploration and value creation for shareholders.
Website: www.goldinxs.com | LinkedIn: LINK | Twitter/X: LINK
Further Information:
Barry Miller
Executive Chairman and Director
GoldInxs Mining Corp.
T: 778.232.1878
E: barry@goldinxs.com
Forward-Looking Statements
This news release contains certain "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from exploration, survey, historic work, drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors, including the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. Forward-looking statements in this news release include, but are not limited to, statements regarding the anticipated benefits of the Company's engagement of ICG and 936QC, prospective exploration projects, potential future financings of the Company and the potential grant of incentive stock options of the Company. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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