Fieldwork Set to Begin at Serpent-Radisson, James Bay, Québec
MONTREAL, May 17, 2022 (GLOBE NEWSWIRE) —(“Harfang” or the “Company”) ( ) is pleased to report analytical results from the winter drill program on its now combined Serpent and Radisson properties (collectively the “Property”, “Serpent” or “Radisson”) located in Eeyou Istchee James Bay, Québec.
The Property covers a combined 50,843 hectares (988 claims) of prospective Archean basement terrain hosting a district scale gold endowment discovered by the Company. The target area is comprised of a kilometric scale gold-in-till occurrence and more that 50 high-grade gold surface showings identified since 2017 clustered in a corridor straddling the Serpent-Radisson boundary. During winter 2022, the majority of holes drilled on Serpent tested the gold-in-till anomaly while the four holes drilled on Radisson tested the northwest extension of the Goldhawk Zone. The location of the drilling and highlight results are presented in Figure 1 and Table 1.
Commented Ian Campbell, President and CEO, “Our winter drill program represents a cooperative effort between the Harfang and formerteams on the district scale gold discovery on the Serpent-Radisson property. The results to date confirm a structural and geologic framework that is prospective for a significant gold deposit, however, we have yet to locate the centre of gravity of the system. We recently conducted a critical analysis integrating all the project data accumulated and are basing our summer phase of exploration, set to begin at the end of May, by applying our technically driven, business approach. We are excited about the upcoming field season as we will be moving forward on several fronts and are well financed with approximately $10 million in the treasury.”.
Fieldwork will focus on target areas of the Property that have received little or no attention to this point. It will also include additional geological analysis of the structural framework of the gold system identified to date, further study of the nature and potential source of the gold-in-till anomaly, and an evaluation of targets such as the Mista Cu-Au-Ag occurrence. The objective of this work is to further refine drill targets for subsequent testing later this year.
Discussion of Results
The winter 2022 drill program consisted of 18 holes for a total of 4,200 metres that were positioned to address specific objectives by testing three sectors on the Property. These objectives were to drill: 1) the lateral extension of known gold intervals in the eastern half of the large, swamp covered area, up-ice of the gold-in-till anomaly; 2) the structural corridor between Goldhawk and Goldhawk Northwest; and, 3) mapped shear zones around the swamp area. These new results further confirm that the most significant gold area identified to date is located under the swamp, up-ice of the gold-in-till anomaly (Figures 1 and 2). The winter program also extended the Goldhawk structure 600 metres to the northwest (Figure 3).
Table 1. All gold intervals with a metal factor >5 (g/t x m) in drill holes
SER-22-047 to SER-22-059 and LXR-22-013 to LXR-22-016.
|Hole||From (m)||To (m)||Core Length (m)*||Au (g/t) Uncut|
*The true thickness of reported intervals cannot be determined with the information currently available.
Eastern half of the swamp covered area
Drill holes SER-22-047 to SER-22-053 were positioned to test the eastern extension of gold intervals obtained along the Stu Trend in 2021 drill holes (Figure 2). SER-22-047, the first of the 2022 winter program, was drilled toward the east and perpendicular to previous holes in the area. It tested the lateral continuity of drill intercepts obtained in 2021 such as those in SER-21-035 (4.33 g/t Au over 7.00 m) and SER-21-040 (2.83 g/t Au over 3.75 m) and the presence of possible NE-SW structures as suggested by discontinuities in the magnetic signature. SER-22-47 returned the best intersection to date of 2.52 g/t Au over 19.65 m, including 6.05 g/t Au over 7.75 m. The true width of this mineralized interval is unknown as the hole may have intersected the targeted gold zone at a low angle.
Holes SER-22-049 and SER-22-050 intersected 8.71 g/t Au over 2.25 m and 1.06 g/t Au over 9.85 m, respectively, extending the Stu Trend towards the northeast. Visible gold was observed in both holes. SER-22-048 (6.39 g/t Au over 1.50 m) and SER-22-052 (1.44 g/t Au over 4.35 m) contain anomalous gold intervals (>50 ppb Au) several tens of metres wide between holes SER-21-040 and SER-21-044.
As mentioned in previous news releases, gold intervals are most commonly hosted in fine to medium-grained diorite containing 1-3% disseminated pyrite, minor quartz veins and actinolite-feldspar-quartz veinlets. Diorite deformation is subtle, varying from weakly foliated to locally sheared.
Structural corridor between Goldhawk and Goldhawk Northwest
Four drill holes (LXR-22-013 to LXR-22-016), positioned along two fences spaced 250 m apart, tested the continuity of the sheared corridor between Goldhawk (1.64 g/t Au over 22.40 m, grab samples up to 90.70 g/t Au) and Goldhawk Northwest (grab samples up to 37.40 g/t Au) showings (Figure 3). All four holes encountered gold mineralization associated with shear zones in diorite and paragneiss including 4.76 g/t Au over 1.49 m in hole LXR-22-014, and with local visible gold observed in LXR-22-014 and LXR-22-016.
Shear zones around the swamp covered area
Drill holes SER-22-054 to SER-22-059 targeted specific sites inside the current extent of the gold-in-till anomaly, and defined based on gold occurrences and shear zones at surface, or magnetic discontinuities interpreted as faults or shear zones (Figure 1). Despite the presence of shear zones and sulphide-bearing intervals in these holes, none of them returned gold intervals with a metal factor >5 (g/t x m).
Upcoming Summer Program
The Company will expand exploration on the Property during the upcoming summer program to include prospecting, mapping, and soil sampling on target areas that have received little or no attention to date. Targets include areas to the north and west of Goldhawk and Talon showings where the NW-SE 8 kilometre gold corridor identified to date intersects a different NE-SW structural domain, as well as prospecting and geological interpretation on the eastern half of Radisson property where several geophysical and geochemical anomalies are present. Work will also include the areas around the Mista Cu-Au-Ag discovery and further east on Serpent, the latter which remains to be prospected in detail. The program will be supplemented by additional geologic analysis of the structural framework of the known gold system and further study of the nature and source of the gold-in-till anomaly. The objective of this work is to further refine drill targets for subsequent testing later this year.
Stock Options Granted
Harfang also announces that a total of 600,000 fully vested incentive stock options (“Options”) have been granted in accordance with the terms of the stock option plan of Harfang, to an officer of the Company. Each Option entitles the holder to acquire one common share at a price of $0.55 per share for a period of ten years with an expiration date of April 20, 2032.
To view FIGURES 1 to 3, please click here.
The technical and scientific information in this news release has been prepared and approved by François Huot, P.Geo, Vice President Exploration at Harfang, a “qualified person” as defined by NI 43-101.
Rock samples were sent to ALS (Val-d’Or, Québec) to be analyzed for gold and 33 other chemical elements. Gold was analyzed by atomic absorption following fire assaying on a 30-g sample fraction (Au-AA23). Other elements were analyzed using the four-acid ICP–AES method (ME-ICP61). Samples with >10 g/t Au were reanalyzed with a gravimetric finish (Au-GRA21). Sample preparation and analytical determination were performed in various ALS laboratories.
Grab samples are selective by nature and are not necessarily representative of the mineralized zones.
The sampling procedures and the quality control followed protocols developed by Harfang, LaSalle, and ALS. Preliminary data interpretation was done by Harfang and LaSalle.
Harfang is a mineral exploration company whose primary mission is to discoverdistricts in the provinces of Québec and Ontario. Harfang’s development model is based on the generation of new mineral exploration projects and on the establishment of partnerships with major exploration and mining companies to advance its exploration projects.
For further information, please contact:
Cautionary Statement Regarding Forward-Looking Information
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements 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.
FenixOro Updates Link for Webinar Today at 12:00 PM EDT, Increases Capacity
TORONTO, May 18, 2022 (GLOBE NEWSWIRE) — FenixOro Gold Corp (CSE: FENX, OTCQB: FDVXF, Frankfurt: 8FD) is pleased to announce that it has increased…
Ascendant Closes First Tranche of C$3.5 Million Non-Brokered Private Placement
Funds to Secure 50% Ownership of Lagoa SalgadaNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, May …
PureGold Announces Securities for Debt Transaction
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, May 24, 2022 (GLOBE NEWSWIRE)…
Peloton Minerals (CSE:PMC) Nevada Gold Projects Permitted & Ready to Drill
InvestmentPitch Media Video Discusses Sitka Gold’s New Drill Program at its Alpha Gold Project in Nevada, and Finishes its First Hole
Alamos Gold Pours 991 oz #Gold at La Yaqui Grande mine, #Mexico
US Retail Demand for #gold, #silver Bars ‘Almost Insatiable’, Metals Focus Says
Gratomic Provides Global Natural Graphite Pricing Update
Golden Sky Minerals Reprices Warrants
EMX Provides Drill Results Update from the Hardshell Royalty Property in Arizona
Cabral Gold Receives Excellent Column-Leach Test Results from MG Gold-in-Oxide Material, Cuiú Cuiú Gold District
Eastplats Announces Changes to the Board of Directors
THE COURT ORDERS THE PARTIES TO FILE THEIR CASE MANAGEMENT REPORT ON JUNE 27, 2022
Financing News17 hours ago
NexGen Announces Voting Results from its 2022 Annual Meeting of Shareholders
Precious Metals22 hours ago
No Sacrifices: Inside Nickel Mining in the Philippines
Economics19 hours ago
Shiba Inu Price Prediction: Buy When Others Are Fearful?
Companies22 hours ago
Imperial Oil investing $6.35-million in E3’s Clearwater lithium pilot project, Alberta
Companies22 hours ago
Gold Co. Engaging in Resource Estimate With Apex Geoscience for Latest Project
Companies18 hours ago
Rio2 Plummets 57% Because Of Camels And Rodents
Companies22 hours ago
Argonaut Gold arranges $195-million equity financing
Base Metals23 hours ago
Oliver Wyman Selected to Review LME’s Nickel Trading Disruption