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Visionary Gold Corp. ("Visionary" or the "Company") (TSXV: VIZ) is pleased to announce that it has completed five drill holes for a total of 780 metres (m) of drilling at the Wolf Gold Project, and has confirmed and extended a gold-in-soil anomaly, just a few hundred meters north of the historic Wolf Mine, on an interpreted parallel structure called Windy Hill.
Thus far, the 2021 exploration program on the Wolf Gold Project has achieved the following:
- Confirmed the presence of a shear zone trend with at least 2.6 kilometres (kms) of strike.
- Identified numerous new targets on parallel structures to the West and Northwest of the historic Wolf Mine using rock and soil sampling, geophysics, and structural mapping.
- Drilled into the Wolf shear structure that plots down-dip from the historic Wolf Mine structure.
- Confirmed that Induced Polarisation (IP) anomalies do contain significant disseminated sulfides, as hypothesized.
- Confirmed the existence of previously reported mineralized zone at surface workings of Wolf Mine with new channel sample containing 11.5m averaging 5.12 grams per tonne (g/t) gold.
- Sampled values greater than 25 g/t gold from historic Wolf Mine Area.
- Collected 3,145 soil samples covering 90.4-line km, 442 rock samples from its approximately 50km2 land package in and around the Lewiston District and completed the first phase of the first ever drill program in the district at its Wolf Gold Project.
"Strong gold values in soil and rock chip samples complimented by associated geophysical anomalies continue to highlight potential for a large gold bearing system at the Wolf, as we await results from the initial drill program," stated Visionary CEO, Wes Adams. "Like many of our peers, we have experienced significant delays this year in returning assay results, but we haven't stopped collecting data and the results that we have received continue to be encouraging. We will release the results from the entire drill program as soon as we have results from all holes, and we will continue to release results from regional exploration efforts as they become available."
Confirmation rock channel samples across the Wolf Shear were taken at different sample locations along the same structure and returned results almost identical to previously reported channel samples with an average of 10.2 m of 5.19 g/t gold (See NR dated February 3rd, 2021), as compared with the new samples, which returned an average of 5.12 g/t gold over 11.5m. Rock chip samples in other areas of the Wolf Gold Project seem to correlate well with surface gold in soil anomalies and structural features mapped at surface. See attached map (Figure 1) and table (Table 1) below.
Figure 1.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4047/104291_12b4d470140d4821_002full.jpg
Table 1.
| Historic Wolf Mine - Channel Sample Results | ||
| Sample | Length m | Au g/t gold |
| VGR000251 | 0.5 | 0.12 |
| VGR000252 | 0.4 | 0.09 |
| VGR000253 | 0.3 | 0.23 |
| VGR000254 | 1.5 | 4.96 |
| VGR000255 | 1.5 | >25.00 (pending overlimit results) |
| VGR000256 | 1.5 | 2.70 |
| VGR000257 | 1.5 | 3.62 |
| VGR000258 | 1.5 | 1.80 |
| VGR000259 | 1.5 | 0.29 |
| VGR000264 | 1.3 | 0.92 |
| Total Width | 11.5 | 5.12 |
Technical Disclosure
Soil sample QA/QC included the insertion into the sample stream of standards, duplicates, and blanks. Samples were kept at Visionary's secure facility until freighted directly to ALS Geochemistry's preparation laboratory in Elko, Nevada. Soil samples were analyzed using package AuME-ST43 with a detection limit for gold of 0.0001ppm. Rock samples were analyzed by crushing and pulverizing 250g to >85% passing 70 microns, final analysis is by 30g fire assay (Au-ICP21).
About Visionary Gold Corp.
Visionary Gold Corp is a Vancouver-based mineral exploration company focused on precious metals discovery and development in the historically productive Lewiston gold district of Fremont County, Wyoming, a district that, while having a strong gold mining history, has never been explored using modern techniques. The Company now controls an approximately 50 square kilometre land package with numerous drill ready targets.
For further information, please visit the company website at: www.visionarygoldcorp.com
Contact:
Wes Adams, Chief Executive Officer
Visionary Gold Corp.
410-325 Howe Street
Vancouver, BC V6C 1Z7
Tel: (303) 809-4668
Technical Disclosure Advisory
All scientific and technical information contained within this press release was prepared under the supervision of Darren Lindsay, P.Geo. (EGBC), a Qualified Person as defined by NI 43-101. Mr. Lindsay is a Director of the Company.
It should be noted that the potential quantity and grade of the exploration targets disclosed in this press release is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource as per the NI 43-101 reporting standards.
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to analysis of core samples and other results from Visionary's 2021 exploration program and further updates regarding drilling and exploration progress in the coming weeks. Forward-looking statements are necessarily based on several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic and regulatory risks; capital and operating costs varying significantly from management estimates; timing of the provision of services by third parties; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; inflation; fluctuations in commodity prices; delays in the development of projects; and the other risks involved in the mineral exploration and development industry generally. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events, or otherwise.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104291
