Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce it has received a multi-year area-based exploration permit for the Swan target at the Atsutla Gold Project in northern British Columbia (BC). The permit will allow Trailbreaker to conduct advanced exploration at the Swan target, including geophysical surveying and future diamond drilling, in order to better define the mineralization system.
Trailbreaker is currently planning its 2024 exploration activities for Swan, including an induced polarization (IP) survey covering a strong multi element geochemical anomaly coincident with argillic alteration. The survey is designed to identify any chargeability and resistivity features potentially associated with mineralized alteration zones. As porphyry deposits often form in clusters, additional surface exploration will be conducted concurrently with the IP program to continue exploring for new mineralized targets at the Atsutla Gold Project.
Message from the President
“Receiving our exploration permit for Swan is a big step toward advancing the Atsutla Gold Project. We now have the capability to be more aggressive with our exploration efforts in order to advance the Swan target.” – Daithi Mac Gearailt
Swan Target Description
The Swan target is located in the eastern Atsutla Gold Property area, in northern BC. Swan is a potential gold-silver-copper (Au-Ag-Cu) porphyry system, defined by a 900 m by 700 m Au-Ag-Cu-arsenic (As) – antimony (Sb) – molybdenum (Mo) – lead (Pb) soil geochemical anomaly along a gossanous ridge. The host setting is a leucogranite porphyry intrusion with argillic and phyllic alteration assemblages. Bedrock sampling by Trailbreaker in the centre of the soil anomaly has returned values up to 11.5 g/t Au and 16.8 g/t Ag.
Historic IP surveying around the Swan target took place in the valley west of the soil anomaly. This work focused on a molybdenum anomaly associated with a semi-circular chargeability high. This chargeability feature partially wraps around the soil anomaly, but the survey dimensions do not cover the entire anomaly. Additionally, IP surveying will be valuable in identifying potential chargeability highs, which may indicate high sulphide content and associated alteration zonation. As well, resistivity characteristics may help vector toward felsic intrusive centers and high-density quartz veining which would indicate the potassic core of a porphyry system.
Figure 1: Highlights of the Swan target include the strong Au geochemical anomaly, phyllic and argillic alteration zones, and the partial chargeability high ring feature defined from a historic IP survey.
About the Atsutla Gold Project
The Atsutla Gold project covers over 40,000 hectares of underexplored and prospective ground in northwestern BC. The project covers a portion of the Atsutla mountain range 70 km south of the BC-Yukon border. Placer gold was recorded in the area during the early 1900s, with very little subsequent mineral exploration.
The project is centered over the crustal-scale Teslin-Thibert fault system that marks the division between the Quesnel and Cache Creek terranes. Gold mineralization is associated with Mesozoic intrusive batholiths that are the predominant geological unit on the property. Trailbreaker has discovered five significant zones of gold mineralization across the property. These are:
About Trailbreaker Resources
Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
A photo accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/c66345bd-85aa-42bb-a466-fe24fe4ce990
Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to report geochemical results from the 2023 surficial exploration program at their Castle Rock property on northern Vancouver Island, British Columbia (BC).
Highlights from the surficial exploration program include:
Message from the President
"Our grassroots exploration efforts at Castle Rock have continued to build upon a showing with limited previous exploration, and are quickly developing this into a compelling project with multiple targets. Castle Rock is a great testament to our tried-and-true exploration methodology which has proven to add value to our portfolio of early-stage exploration projects. We are excited to continue to advance Castle Rock, along with the rest of our portfolio." – Daithi Mac Gearailt
Figure 1: Soil geochemical anomalies and highlighted rock and moss-mat samples from the 2023 surface sampling program, overlain on interpretation of the regional airborne magnetic survey. Sampling defines a 3 km gold-in-soil trend which includes the Heart zone and newly defined Watchtower and Kokummi zones. Rock sampling has confirmed historic values at the Flan zone and defined an open gold-in-soil anomaly. Additionally, anomalous moss-mat samples in the southeast and eastern portions of the property have defined new areas of potential mineralization, leading to additional claim staking.
Heart, Watchtower, and Kokummi zones (3 km long soil trend)
Rock and soil geochemical sampling and prospecting successfully defined a three-kilometre gold-in-soil trend with multiple >30 ppb gold anomalies, centered on the previously known Heart showing. The Heart showing was discovered in 2012 and consists of a brecciated granodiorite dyke containing 5 to 10% pyrite-chalcopyrite. Historic chip sampling returned assays of 2.0 g/t Au over 30 metres 1 .
During the 2023 surface campaign, rock samples collected from an outcrop 175 m north-northwest of the Heart showing returned assay results up to 2.2 g/t Au. These samples were collected from a strongly oxidized granite, very similar to the main Heart zone showing. Additionally, gossanous basalt containing pyrite was sampled in outcrop 80 m east-northeast of the Heart showing, and returned assay results up to 2.2 g/t Au.
Soil sampling near the Heart showing expanded the continuous gold-in-soil anomaly, defining the Heart zone to approximately 1,150 m in strike length and up to 300 m in width.
A new multi-sample gold-in-soil anomaly, the Watchtower zone, was identified approximately 325 m to the southwest of the Heart showing. No previous sampling had been conducted in the area prior to 2023. The anomaly remains open to the south and west. This may represent an additional mineralization centre near the Heart zone.
A second newly identified gold-in-soil anomaly, the Kokummi zone, was defined to the south-southeast of the Heart zone. This anomaly is on strike of the Heart zone and is defined by gold-in-soil values >30 ppb along multiple soil sampling lines, defining a >600 m strike length.
Flan zone
Historic sampling at the Flan zone returned assays up to 135 g/t Au in boulders 2 . Sampling during 2023 was designed to confirm the presence of mineralization and to define a bedrock source. Gossanous float material sampled at the Flan zone confirmed high-grade gold mineralization, with assays up to 42.1 g/t Au and 1.93% Cu. As well, basalt-hosted semi-massive pyrite-chalcopyrite-pyrrhotite sampled in outcrop returned assays up to 3.1 g/t Au. It is believed that this outcrop-hosted mineralization is associated with the float samples, and that similar mineralization may occur under vegetative and/or till cover. The Flan zone lies at the intersection of two magnetic lineaments. This structural intersection may be an important control of gold mineralization.
The Flan zone occurs on the western extent of the soil geochemical grid. However, another gold-in-soil anomaly was defined from the 2023 sampling approximately 500 m north of the outcrop mineralization at the Flan zone. The anomaly is defined by >30 ppb gold-in-soil, and remains open to the west and north.
Reconnaissance sampling
To assess potential mineralization outside of the primary area covered by soil sampling, moss-mat sampling, targeting additional drainages on the property, was employed. Moss-mat sampling is used as a reconnaissance style sampling method, similar to stream sediment sampling, providing indications of metal content within a drainage and providing a vector for the location of mineralization.
Two areas returned multiple moss-mat samples with greater than 10 ppb gold. The first area is in the southeastern portion of the property, near the postulated contact of the Kokummi stock and the Karmutsen basalts. The second area is within a valley that drains from the eastern flank of Mt. Adam. This valley, which has not undergone any exploration work, is marked by magnetic lineaments, similar to those at the Heart-Kokummi soil trend. Additional claims were staked in this area to cover all drainages potentially causing these elevated moss-mat samples.
Future Work Recommendations
Future work at the Castle Rock property will be focussed toward continuing to define the extent of mineral potential on the property, as well as advancing individual targets toward initial drill testing. This work will include permitting to conduct advanced exploration activities, additional surface geochemical work, and geophysical surveying.
About the Castle Rock property
The Castle Rock property covers 3,108 hectares of land, approximately 70 km northwest of Campbell River, BC on northern Vancouver Island (Figure 1). It was acquired by Trailbreaker in 2022 and was recently consolidated through an option agreement with Cazador Resources Ltd. (see August 8, 2023 news release ). Trailbreaker conducted initial exploration assessment work in 2022 and followed up with a second surface exploration program in 2023 (results are contained in this news release).
The claims cover five BC Minfile occurrences on a district-scale structure that is >5 km-long, with newly identified gold ± copper-enriched intrusions. These Minfile occurrences are relatively new discoveries, mostly due to access created by recent logging activity.
Northern Vancouver Island is host to several large Cu-Au porphyry deposits, including Northisle's Hushamu deposit (Inferred Resource of 5.57 Moz AuEq) 3 , and BHP Billiton's past producing Island Copper porphyry copper deposit (produced >2.7 B lb Cu and >1.0 Moz Au) 3 .
At the Castle Rock property, gold is dominantly hosted in Jurassic granodiorite dykes which have been emplaced along a regional-scale fault zone separating Lower to Middle Triassic Daonella Bed sedimentary rocks from Upper Triassic Karmutsen Formation basalts.
About Trailbreaker Resources
Trailbreaker Resources is a project generator focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. We are committed to continuous exploration and research, allowing us to maintain a portfolio of quality mineral properties which in turn provides value for our shareholders. The company has an experienced management team with a proven track record as project generators and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
References
1) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20399
2) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20396
3) https://cmscontent.nrs.gov.bc.ca/geoscience/PublicationCatalogue/InformationCircular/BCGS_IC2014-04.pdf
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ae9292a0-501f-4c65-93e1-4c863323130c
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Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to provide a company update on exploration activities during the 2023 field season, and on our continued efforts to build shareholder value.
2023 was an active year for Trailbreaker, with work conducted across a wide array of our projects. Work included the filing of an NI 43-101 technical report on the Atsutla project, optioning out of a portion of the Eagle Lake property, drill testing on the Eakin Creek project, conducting surface exploration at the Golden Sable and Castle Rock projects, and conducting a site visit at the Sheldon project. As well, the technical team was bolstered by the appointment of a new position of Vice President of Exploration. Work towards permitting of projects in order to conduct drill testing is ongoing. As well, the technical team is actively engaged in conducting project generation to bring new highly prospective properties into the Trailbreaker portfolio. Trailbreaker intends to carry the momentum from this year's activities into 2024, and to continue to build on the 2023 exploration successes.
Message from the President
"Thank you to our base of loyal shareholders who have continued to believe in and support our exploration approach through a tough metals market. We are excited to be advancing numerous projects and are looking forward to an active 2024 exploration season. We are also excited about the ongoing target generation that our technical team has been engaging in, which we feel will continue to add highly prospective projects into our pipeline." – Daithi Mac Gearailt
2023 Exploration Activities
Click the hyperlinks below for more information on each project, news release, or presentation.
Atsutla : Prior to the start of the field season, Trailbreaker filed an NI 43-101 technical report for the Atsutla project, located in northwestern BC (see news release dated May 15, 2023 ). The technical report and accompanied structural geology report with drill recommendations, provide a geological framework and clear exploration methodology to advance the Atsutla project. There is strong potential both for intrusion-hosted auriferous quartz veins in the western portion of the property, where rock samples assayed up to 630 g/t gold (Au); and for porphyry copper-gold (Cu-Au) mineralization at the Swan zone, where rock samples returned up to 11.7 g/t Au.
Eagle Lake : Trailbreaker optioned out a portion of the Eagle Lake project, located in central BC, to Vizsla Copper. These four claims abut Vizsla Copper's Woodjam project (see news release dated June 12, 2023 ). Vizsla Copper has the option to acquire a 100% interest in the four optioned claims by issuing an aggregate of 400,000 common shares to Trailbreaker over three years. Trailbreaker and Teck Resources Ltd. retain a combined 2% net smelter return (NSR) royalty on these claims. Trailbreaker retains the prospective Moffat zone portion of the Eagle Lake project, where historic drill results returned grades up to 3.52 g/t Au over 9.9 m. Also at the Moffat zone, a 2022 MMI (mobile metal ion) soil survey defined an 850 x 700 m gold-copper-silver-molybdenum (Au-Cu-Ag-Mo) anomaly.
Eakin Creek : Trailbreaker's field season began with a successful diamond drill program at the Eakin Creek project, south-central BC (see news release dated September 5, 2023 ). Gold was intersected in all eleven drillholes, highlighted by intervals including: 1.0 m of 14.3 g/t Au in hole EC-23-02; 3.0 m of 2.42 g/t Au in hole EC-23-01; and 15.7 m of 0.32 g/t Au in hole EC-23-05. This drill program represented a successful and cost-effective first pass test of a highly prospective target, with 2,039 m of drilling completed for less than CAD$500k. Additional drilling is recommended to expand the known extent of mineralized zones.
Golden Sable : Surface work at the Golden Sable project, south-central BC, extended the gold-in-soil anomaly to 4 km in length (see news release dated September 14, 2023 ). The Golden Sable project was newly acquired by Trailbreaker (see news release dated May 29, 2023 ). The project was subsequently explored by Trailbreaker, focusing on a previously identified significant gold-in-soil anomaly. This anomaly is locally supported by 2018 drill results, including 24.0 m of 0.83 g/t Au, in turn including a sub-interval of 4.0 m of 2.4 g/t Au. Outcrop exposure on the property is limited, and no follow-up drilling along the gold-in-soil anomaly has occurred, leaving a majority of the highly prospective anomaly untested.
Sheldon : A site visit to the Sheldon project, central Yukon, confirmed historic gold-in-rock values, as well as numerous key geological features indicating a potential "reduced intrusion-related gold system" (RIRGS). Rock samples collected in an area hosting abundant sheeted quartz veins containing arsenopyrite and bismuthinite, near the contact of the Sheldon Stock granite and hornfels sedimentary rocks, returned assays up to 6.48 g/t Au. The site visit confirmed the geological model, presence of high-priority targets, and supported our exploration approach to be applied at the Sheldon property. An updated project presentation may be found on our website.
Castle Rock : Trailbreaker announced the acquisition of the Castle Rock property, northern Vancouver Island, BC, through a combination of claim staking and a partnership agreement with Cazador Resources (see news release dated January 20, 2023 ). The property was subsequently consolidated through a secondary agreement with Cazador Resources, giving Trailbreaker the option to gain a 100% interest in the property (see news release dated August 8, 2023 ). A surface exploration program, consisting of 497 soil samples, 50 rock samples, and geological mapping, was completed at Castle Rock. This program followed up on the 2022 gold-in-soil anomaly identified near the gold-rich Heart porphyry prospect, and on historic rock samples at the Flan zone (see news release dated September 25, 2023 ). Assay samples for this work are still outstanding and will be reported separately once received.
Vice President of Exploration : In addition to Trailbreaker's field exploration activities, Dillon Hume, M.Sc., P.Geo., joined the team as the Vice President of Exploration in July, 2023. Mr. Hume brings a wealth of mineral exploration experience to Trailbreaker, having been involved in significant discoveries, including the East Ridge Zone at the Red Chris Cu-Au porphyry mine, and the Krakatoa Zone at the Kudz Ze Kayah VHMS deposit. Mr. Hume completed an M.Sc. degree on the structural and mineralogical controls of gold mineralization at the Tajitos orogenic gold deposit in Sonora, Mexico, and is registered as a professional geoscientist in British Columbia. He brings a strong management and technical foundation to help propel Trailbreaker's exciting project portfolio.
Project Generation
Trailbreaker is continually conducting project generation, including reviewing projects that may add significant exploration potential and fit well within Trailbreaker's portfolio. Project generation is primarily focused on identifying underexplored and undervalued projects which the technical team feels have realistic potential for significant advancement. Project generation work is primarily focused on gold projects in British Columbia and Yukon.
Outlook for future work
Trailbreaker is preparing for another year of exploration across a suite of prospective projects. Surface work and geophysical surveys will be conducted at numerous properties to develop drill targets that could lead to significant discoveries. As well, the technical team is planning first-pass drill programs for several projects. Additional news on specific work programs can be expected through the winter and spring months, as these planning efforts solidify.
In addition to field work for 2024, the Trailbreaker team will be attending conferences over the winter months, including but not limited to: the AMEBC RoundUp conference from January 22-25, 2024 in Vancouver; the Prospectors and Developers Association of Canada conference from March 3-6, 2024 in Toronto; and the Kamloops Exploration Group Conference from April 9-10, 2024 in Kamloops.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Telephone: 604 681 1820
Facsimile: 604 681 1864
https://www.TrailbreakerResources.com
https://twitter.com/TrailbreakerLtd.
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Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to announce that it has completed a surficial exploration program at its Castle Rock property on northern Vancouver Island, British Columbia (BC).
The program consisted of the collection of 497 soil samples, 50 prospecting grab samples, and geological mapping. It was primarily designed to follow up on the channel sample and associated 400 m x 50 m gold-in-soil anomaly defined as the Heart zone in 2022.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: "The program provided excellent coverage of the already robust gold anomaly at the Heart zone. This is a very recent discovery in an underexplored area of the Island. With the results in hand, we will have a more complete picture of the strike length of the anomaly and whether there are additional geochemical trends."
All assays for the program remain pending.
About the Castle Rock property
The Castle Rock property covers 3,108 hectares on Northern Vancouver Island, approximately 70 km northwest of Campbell River, BC (Figure 1). It was acquired by Trailbreaker in 2022 and was recently consolidated through an option agreement (see August 8, 2023 news release ).
The claims cover five BC Minfile occurrences along a district-scale structure that is >5 km long, with newly identified gold ± copper-enriched intrusions. These Minfile occurrences are relatively new discoveries, mostly due to access created by recent logging activity.
Northern Vancouver Island is host to several large copper-gold (Cu-Au) porphyry deposits including Northisle's Hushamu deposit (Inferred Resource of 5.57 Moz AuEq) 1 , and BHP Billiton's past producing Island Copper porphyry copper deposit (has produced >2.7 B lb Cu and >1.0 Moz Au) 1 .
At the Castle Rock property, gold is dominantly hosted in Jurassic granodiorite dykes emplaced along a regional-scale fault zone separating Lower to Middle Triassic Daonella Bed sedimentary rocks from Upper Triassic Karmutsen Formation basalts.
Figure 1: Location of the Castle Rock property on Vancouver Island 1 .
2023 exploration at the Heart and Flan zones
The Heart zone was the primary focus of the 2023 exploration program. The Heart showing (upon which the zone is centered) was discovered in 2012 and consists of a brecciated granodiorite dyke containing 5% to 10% combined pyrite and chalcopyrite. Historic chip sampling returned assays of 2.0 g/t Au over 30 metres 2 .
During 2022, Trailbreaker completed a channel sampling program at the Heart showing which returned values up to 0.68 g/t Au over 13.11 m, including a subinterval of 1.85 g/t Au over 2.92 m. A small soil geochemical survey outlined a 400 m x 50 m, northwest-southeast trending gold-in-soil anomaly. This is interpreted to represent the surface footprint of the gold-bearing dyke exposed at the Heart showing. Soil values up to 5.44 g/t Au were returned, and the anomaly remains open. This area is referred to as the Heart zone.
During the 2023 program, the exploration team expanded the soil grid, now covering 3.2 km x 1.5 km with 497 soil samples (see Figure 2). Additional prospecting was also done along trend of the Heart zone to explore for similar mineralization to that of the main Heart showing.
The soil survey was also extended to cover the Flan zone, located approximately 1.5 km west of the Heart zone. The zone was originally discovered in 2000 and comprises numerous high-grade boulders assaying up to 135 g/t Au 3 . Prospecting at the Flan zone during the 2023 program uncovered significant pyrrhotite-chalcopyrite mineralization hosted in a mafic volcanic unit. While the boulders were originally interpreted as sourced from the Heart zone, the mineralized volcanic rocks may represent a recently exposed bedrock source discovered in 2023 within 200 metres of the historic location of the boulders.
Figure 2: 2023 sample locations at the Castle Rock property with inset showing 2022 results at the Heart zone.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
References
1) https://cmscontent.nrs.gov.bc.ca/geoscience/PublicationCatalogue/InformationCircular/BCGS_IC2014-04.pdf
2) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20399
3) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20396
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
| Trailbreaker Resources Ltd. | ||
| 650 W. Georgia Street, #2110 | ||
| Vancouver, British Columbia | ||
| Canada, V6B 4N9 | ||
| Telephone: | 604 681 1820 | |
| Facsimile: | 604 681 1864 | |
| https://www.TrailbreakerResources.com | ||
| https://twitter.com/TrailbreakerLtd. | ||
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Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to announce results from its 2023 surficial exploration program at the Golden Sable property in south-central British Columbia (BC). Efforts were focused on investigating a historic 3-kilometre-long gold-in-soil anomaly. The program was successful in extending the anomaly a further 1 kilometre to the southeast, where it remains open.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: "This was an excellent first-pass evaluation of a property with known gold mineralization. There is a very significant gold-in-soil trend here, with historic drilling to verify the presence of gold mineralization in bedrock."
About the Golden Sable property
The 2,852-hectare Golden Sable property is located 75 km northeast of Kamloops, BC, and 20 km south of Bridge Lake, BC. It is easily accessible via Highway 24 and the Bonaparte Forest Service Road. Golden Sable comprises two main areas, Golden Sable (GS) East and GS West, which are contiguous (see Figure 1 and May 29, 2023 news release ).
The Golden Sable property covers an intrusion-related gold target. The claims lie within the Quesnel tectonic terrane that hosts many of British Columbia's active and past-producing gold mines. Middle to Upper Triassic Nicola Group volcanics and sedimentary rocks comprise the majority of the underlying bedrock geology. The property also straddles the margins of a large, early Jurassic hornblende-biotite granodiorite pluton with prevalent younger mafic and andesitic dikes.
From 2006 to 2013 Amarc Resources delineated the 3-kilometre-long soil anomaly on the GS West block, which was subsequently drill tested by Sable Resources in 2018.
The inaugural, 1,339-metre drill program conducted by Sable Resources on the GS West block encountered gold mineralization in 5 of 7 drill holes. Results include an intersection of 0.83 g/t gold (Au) over 24.0m, including 2.4 g/t gold over 4.0m. Gold mineralization was found to be associated with mafic and intermediate dike swarms trending northwest – southeast along the granitic contacts.
No follow-up drilling has been conducted to date, and the majority of the gold-in-soil anomaly remains untested.
Figure 1: Location of Trailbreaker's Golden Sable property.
Trailbreaker's 2023 exploration program
The 2023 surficial exploration program was designed to evaluate the quality of the historic soil sample locations, locate the historic drill holes, map and prospect available outcrops, and continue soil sampling to the southeast of the GS West historic gold-in-soil trend.
The program was successful in extending the GS West gold-in-soil anomaly 1 km farther to the southeast, where it remains open. Assaying of the soil samples within this trend returned values up to 242 ppb Au (see Figure 2).
A tightly-spaced soil sample grid was also performed over historic soil samples in the area of drilling to evaluate the consistency and quality of previous results. Assay results within this grid returned values up to 601 ppb Au and displayed a similar anomalous signature to that of the historic soil sampling, confirming the validity of the historic anomaly.
Geological mapping revealed outcrops of granite and andesitic dikes within the gold-in-soil trend. Significant pyrite mineralization occurs in the area of the historic drilling.
Figure 2: 2023 exploration at Golden Sable West.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
OTHER
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Telephone: 604 681 1820
Facsimile: 604 681 1864
https://www.TrailbreakerResources.com
https://twitter.com/TrailbreakerLtd
Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e2f6002a-b3b5-4a84-8752-4fcc36952b63
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Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") on August 2, 2023, gave 30 days' notice to warrant holders that it was exercising the Warrant Acceleration Provision for warrants issued on March 6, 2023, pursuant to its $0.12 Flow-Through Unit and $0.10 Non-Flow-Through Unit Private Placement Financings. The Warrant Expiry Date was accelerated from March 6, 2026 to September 3, 2023.
7,039,520 of the 7,320,000 warrants with the exercising price at $0.15 issued were exercised for gross proceeds to the Company of $1,055,928.
The proceeds of the warrant exercises will be used to advance the Company's various exploration projects, and for working capital purposes.
Message from the President
"I appreciate the confidence and continued support of Trailbreaker's shareholders, Thank you."
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
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.
Trailbreaker Resources Ltd.
650 W. Georgia Street, #2110
Vancouver, British Columbia
Canada, V6B 4N8
Telephone: 604 681 1820
Facsimile: 604 681 1864
https://www.TrailbreakerResources.com
https://twitter.com/TrailbreakerLtd.
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Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") is pleased to announce that B2Gold Corp. (TSX: BTO) (NYSE American: BTG) (NSX: B2G) ("B2Gold") has agreed to complete a strategic investment into the Company. Pursuant to the transaction B2Gold has agreed to subscribe for an aggregate of 5,578,720 common shares of the Company (the "Shares") at a price of C$0.163 per Share for aggregate gross proceeds to the Company of $909,311.36 (the "Offering").
Rob Carpenter, CEO and Director of Prospector, said, "We are excited to have B2Gold as a keystone shareholder in Prospector Metals and our team is looking forward to their technical input on our flagship ML Project, Yukon. B2Gold is a major global gold producer with a strong commitment to communities, sustainable mining and employee safety. This investment and technical partnership will allow Prospector to advance the ML project more efficiently and it represents an endorsement of our exploration philosophy and targeting methods."
The gross proceeds from the issue and sale of the Shares will be used exclusively for exploration and development purposes on the Company's ML Project in the Yukon (the "ML Project").
The Shares will represent a total position of approximately 9.9% of the issued and outstanding common shares of the Company upon completion of the Offering.
In connection with the strategic investment the Company and B2Gold have entered into an Investor Rights Agreement dated June 28, 2024 (the "Investor Rights Agreement"), pursuant to which the Company will form a four person Technical Committee, of which will one person nominated by B2Gold, that will advise on and oversee exploration and development of the Company's ML Project.
In addition, pursuant to the Investor Rights Agreement:
In the event that B2Gold's aggregate shareholdings are reduced to less than 5% of the issued and outstanding common shares of the Company on an undiluted basis, the Investor Rights Agreement will terminate.
In addition, pursuant to the terms of a property purchase agreement dated December 29, 2023, Troilus Gold Corp. ("Troilus"), who currently holds 9,222,164 common shares in the capital of the Company representing approximately 18.16% of the Company's issued and outstanding common shares, holds a participation right to maintain an ownership percentage of up to 19.9% of the Company's outstanding share capital (the "Troilus Participation Right"). Pursuant to the Troilus Participation Right, as a result of the Offering, Troilus has the right, for a period of up to ten (10) business days from the date hereof to subscribe for up to an additional 4,777,574 common shares at a price of $0.163 per common share (the "Participation Right Offering"). Assuming the Troilus elects to exercise its entire Troilus Participation Right, on closing of the Participation Rights Offering, Troilus will hold an aggregate of 13,999,738 common shares, representing 19.9% of the then issued and outstanding common shares of the Company.
Closing of the Offering and the Participation Right Offering are subject to the satisfaction of certain conditions, including receipt of approval by the TSX Venture Exchange. All securities issued in connection with the Offering and the Participation Right Offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ML Project Overview
The ML Project located approximately 80 km from Dawson City, Yukon Territory, and 25 km northeast of the former Brewery Creek Gold Mine. The ML Project geology is extensively metal endowed with numerous instances of high-grade gold, silver and copper in drill holes, trenches and surface rock samples.
ML hosts one of the few remaining Tombstone-style intrusions in the Yukon that has not been systematically explored with no significant work completed since 2008 and as such, no modern Intrusion Related Gold (IRGS) exploration models have been applied to ML despite the presence of a diagnostic Au-As-Bi-Te-W geochemical signature.
Previous exploration focused on well exposed Au-Cu-W skarn mineralization proximal to syenite intrusions, however little work was completed within the intrusions. Nonetheless, the presence of skarn Au-Cu mineralization provides key evidence of an active, metal-rich intrusive system with over 24 known high grade Au surface occurrences that have never been drill tested and numerous high-grade Au drill and trench results remain open-ended.
About B2Gold:
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.
About Prospector Metals Corp.
Prospector Metals Corp. is a Discovery Group Company focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Ontario, Canada - a Tier-1 mining jurisdiction with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders, and seeking to develop partnerships and agreements that are mutually beneficial to all stakeholders.
On behalf of the Board of Directors,
Prospector Metals Corp.
Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO
For further information about Prospector Metals Corp. or this news release, please visit our website at prospectormetalscorp.com or contact Dr. Rob Carpenter at 604-354-6415 or by email at Rob-carpenter@rogers.com.
Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company's exploration plans, risks and uncertainties related to the COVID-19 pandemic and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
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.
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Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announced the appointment of Harry M. (Red) Conger to its Board of Directors, who will also serve on the Safety and Sustainability Committee. Red brings over 46 years of extensive mining and leadership experience to Newmont's Board of Directors, having recently retired from Teck Resources, where he served as President and Chief Operating Officer.
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Newmont Welcomes Industry Veteran Red Conger to Board of Directors (Photo: Business Wire)
"We are pleased to welcome Red Conger to Newmont's Board of Directors. Throughout his distinguished career, he has gained a wealth of unparalleled experience in the mining sector and strategic insights. Red brings significant operational leadership to Newmont's Board," said Tom Palmer, Newmont President and CEO.
Prior to Teck, Red spent more than a decade at Freeport-McMoRan, ending his tenure at the company as President and Chief Operating Officer, Americas. He began his mining career at Kennecott Copper's Bingham Canyon mine, followed by more than two decades at Phelps Dodge Corporation, where he oversaw mining and processing across multiple operations in North America and South America. Across his various roles, Red excelled at creating operational efficiencies and supporting stable production throughout challenging cycles.
In addition to his corporate roles, Red continues to be an active leader across the broader mining industry, at organizations such as the National Mining Association where he previously served as Chairman, and the New Mexico Mining Commission where he previously served as Commissioner. He has been recognized for his leadership and contributions to the mining industry, reflected in a variety of industry awards, including most recently being elected to the National Academy of Engineering.
About Newmont
Newmont is the world's leading gold company and producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com.
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Media Contact
Jennifer Pakradooni
globalcommunications@newmont.com
Investor Contact
Neil Backhouse
Investor.relations@newmont.com
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