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Taiga Reports Drilling Results from the Orchid Gold Project, Saskatchewan

CRANBROOK, BC / ACCESSWIRE / August 18, 2021 / Taiga Gold Corp (CSE:TGC) ("Taiga") or (the "Company") has received complete results from a 12 hole, 2139m…

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CRANBROOK, BC / ACCESSWIRE / August 18, 2021 / Taiga Gold Corp (CSE:TGC) ("Taiga") or (the "Company") has received complete results from a 12 hole, 2139m diamond drilling program completed at it's 100%-owned Orchid project located within the Trans Hudson Corridor 120km east of La Ronge, Saskatchewan and 70km south of SSR Mining's Inc.'s Seabee Gold Operation, host of the Seabee and Santoy gold deposits. The Orchid property consists of 7,900ha overlying the same structural features and within rocks similar to those currently being mined at the Santoy deposit. The property is considered to have excellent potential to host significant gold mineralization and carries no underlying royalties or encumbrances.

See Taiga Project Location Map here

Drilling was completed in May 2021, and tested the Orchid East and West, Tim's, Terra Au, Tiger Lily and Wing Lake showing areas. Drill targeting focused on testing extensions of surface vein showings that are typically coincident with magnetic geophysical anomalies. The drilling program reported herein represents the first drill-testing of most of the mineralized zones within Orchid property boundaries.

2021 Drilling Highlights:

  • Tiger Lily: OC21001, the first drill test of a 2017 Taiga Gold discovery, returned 2.28 g/t Au over 0.98 m within an interval grading 1.57 g/t Au over 1.55m;
  • Orchid East and West: OC21005 returned 3.94 g/t over 1.0m. OC21006 had two separate intercepts, returning 5.2 g/t Au over 0.78m from an upper zone, and 3.94 g/t Au over 1m from a lower intersection;
  • Tim's Zone: OC21008 returned 2.09 g/t Au over 0.51m;
  • Terra Au: OC21010 returned 4.24 g/t over 0.51m;

Analytical results ranged from trace values to higher-grade intercepts, as summarized below.

Select Drill Results Table:

Hole ID

From (m)

To (m)

Core Length (m)*

Au (g/t)

Zone

OC21001    

Tiger Lily

Upper Interval

3.40

11.00

7.60

0.16

Lower Interval

71.45

73.00

1.55

1.57

Including

71.45

72.43

0.98

2.28

OC21004    

Orchid East Orchid West

 

7.00

9.00

2.00

0.76

OC21005    
 

11.00

16.90

5.90

0.18

 

26.00

27.00

1.00

3.94

OC21006    
 

53.00

53.72

0.72

5.20

 

146.00

146.54

0.54

2.18

OC21008    

Tim's

 

55.49

56.00

0.51

2.09

OC21009    

Terra Au

Upper Interval

23.47

28.01

4.54

0.23

Including

27.51

28.01

0.50

0.51

Lower Interval

172.28

178.64

6.36

0.35

Including

178.00

178.64

0.64

0.92

OC21010    
 

25.20

30.25

5.05

0.22

 

90.36

90.87

0.51

4.24

OC21002, 003, 011, 012 no significant intercepts

* Drill indicated intercepts (core length) are reported as drilled widths and true thickness is undetermined

See Orchid Sections and Drill Collar Location Map here

Drill Hole Summary

Drill holes OC21001 and OC21002 tested sheeted veins hosted in tonalite-quartz diorite at the Tiger Lily showing. 2017 channel sampling at the Tiger Lily returned up to 10.1 g/t Au over 0.50m, with grab samples up to 8.7 g/t Au. Hole OC21001 was collared approximately 40m down strike from the main showing and intercepted two intervals of significant gold mineralization, both associated with up to 2% disseminated pyrite, silicification, and shearing. These zones returned 0.16 g/t Au over 7.60m and 1.57 g/t Au over 1.55m, including 2.28 g/t Au over 0.98m. Hole OC21002 intercepted mainly quartz diorite with limited intervals of mafic volcanics and did not return any significant assay results.

Drill holes OC21003 - OC21007 tested the quartz-tourmaline vein swarms of the Orchid E and Orchid W showings, associated with geophysical magnetic highs. Three of the five holes intersected gold mineralization associated with quartz or quartz-tourmaline veins, potassic alteration, and pyrite mineralization.

Drill hole OC21003, drilled beneath surface grab samples with up to 7.76 g/t Au at the Orchid E showing, encountered several zones of quartz-tourmaline veins and pyrite mineralization but no significant Au intercepts were returned.

Drill hole OC21004 returned one significant interval of 0.76 g/t Au over 2.0m from 7.0 - 9.0m. Mineralization was associated with pyritic quartz-tourmaline veins hosted in tonalite.

Drill holes OC21005 and OC21006 were drilled as a fence with OC21005 collared approximately 100m along strike to the south of OC21004. Hole OC21005 encountered an upper interval which returned 0.177 g/t Au over 5.90m related to intense, potassic alteration. A lower interval related to massive quartz veining and 5% fracture-filling pyrite returned 3.94 g/t Au over 1.0m. Drill hole OC21006 also encountered an upper and lower interval related to quartz-tourmaline veining and quartz-carbonate veining, respectively. The upper interval returned 5.2 g/t Au over 0.72m while the lower interval returned 2.18 g/t Au over 0.54m.

Drill hole OC21007, an approximately 260m step-out south from OC21005, was designed to test the southern extension of the Orchid W showing. This hole intercepted limited quartz-tourmaline veining and did not return any significant intervals.

Drill holes OC21008 and OC21011 were designed to test the Tim's Showing area which has yielded rock samples up to 52.4 g/t Au. OC21008 intersected tuff and mafic volcanics and returned 2.09 g/t Au over 0.51m from sheeted mm-scale, pyrite-pyrrhotite-bearing quartz-tourmaline veinlets. Hole OC21011 encountered primarily tonalite with several zones of disseminated pyrite mineralization but did not return any significant intervals.

Drill holes OC21009 and OC21010 were designed to test the Terra-Au showing where historical sampling of veins and shears veins returned up to 5.70 g/t Au. Both holes intercepted mainly granodiorite to tonalite with zones of shearing/alteration and quartz-tourmaline veining. Drill hole OC21009 returned 0.23g/t Au over 4.54m from 23.47 - 28.01m as well as a lower zone of intense shearing and disseminated pyrite within granodiorite that returned 0.354 g/t Au over 6.36m from 172.28 - 178.84m, including 0.924 g/t Au over 0.64m. Drill hole OC21010 intercepted sheared tonalite with 0.3% disseminated pyrite that returned 0.22 g/t Au over 5.05m as well as a carbonate vein with 2% vein-related pyrite that returned 4.24 g/t Au over 0.51m from 90.36 - 90.87m.

Drill hole OC21012 tested the Wing Lake showing where historic grab samples of chalcopyrite and pyrite hosted in quartz veins have yielded up to 1.300 g/t Au. Hole OC21012 mainly intercepted mafic volcanic tuff with occasional chalcopyrite/pyrite mineralization associated with quartz veinlets and did not return any significant results.

Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property.

Tim J. Termuende, P.Geo., President and CEO of Taiga Gold Corp commented recently on the results: "we are encouraged by the positive results obtained by the inaugural drill program completed by Taiga on the Orchid property and applaud the sound exploration work carried out to date by TerraLogic Exploration. The confirmation of significant subsurface gold mineralization in numerous discrete locations on the property validates the confidence that management has placed in the property and paves the way for future systematic exploration".

QA/QC

Geological and geotechnical logging and core sampling were completed at a facility on the Orchid property. Assay intervals were based on visual identification of mineralization, presence and density of quartz veins and lithological boundaries. Terralogic Exploration geologists maintained chain of custody and sampling procedures reported in this news release according to best industry practice and with due attention to quality assurance and quality control, including sampling field duplicates and insertion of certified standard and blank samples.

Samples were sent for geochemical analysis with ALS Global, Vancouver for the following analyses: 48 element four-acid ICP-MS (ME-MS61) and gold (Au) 30 g Fire Assay - AA finish (Au-AA23). Samples that returned over 1ppm Au by Au-AA23 were re-analysed using gold (Au) 30g Fire Assay - Gravimetric finish (Au-GRA21).

On receipt of final certificates of analysis, the QA/QC sample results were reviewed to ensure the order of samples were reported correctly, that the blanks ran clean, and that the results for each standard had minimal variance from its certified value. QA/QC for the Orchid Drilling Program included certified reference material ("CRM's") and blanks that were inserted into each sample batch in order to verify the analytical from the lab. The CRM's from all holes reported passed within 3 standard deviations and the blanks returned acceptable values. All of the lab internal standards and duplicates were within acceptable values.

See Orchid Project Summary Map here

Orchid Property History

The Orchid project was staked by Eagle Plains Resources in 2014 and was subsequently transferred to Taiga as part of a plan of arrangement completed in 2018. The property has historically been explored for its gold potential since the mid-1980s and contains numerous documented high-grade mineral occurrences grading from trace values to highs of 61.30 g/t and 41.3 g/t Au (Orchid Au Zone), 19.2 g/t Au (Tim's Showing), 12.7 g/t (Eureka), 11.4g/t Au over 1.9m (Versary) and 8.5 g/t (Terra Zone) as well as significant Ag (144.5 g/t), Cu (3.9%), and Mo (2600 ppm). The property is located within the Trans Hudson Corridor, an ancient belt of rocks that contain significant mineral deposits such as the +42M ounce Homestake gold deposit in South Dakota, the Flin Flon and Snow Lake VMS districts and the nearby Seabee/Santoy Gold Complex. Ore geology at the Seabee Gold Operation consists of high-grade vein mineralization associated with volcanic and mafic intrusive rocks which have been structurally disrupted by splays of the deep-crustal Tabbernor Fault system. The Seabee Gold Operation has been in continuous production since 1991 and has produced over 1.57 million ounces of gold from the Seabee and Santoy deposits. Both the Seabee Gold Operation and the Orchid project are underlain by rocks of the Pine Lake greenstone belt.

The above results were taken in part from Saskatchewan Mineral Deposit Index ("SMDI") descriptions. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work in the Orchid property area. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.

Qualified Person

The four-week program at the Orchid was supervised by Jarrod Brown, P.Geo. of Terralogic Exploration Inc. of Cranbrook, B.C. and relied extensively on support services and personnel from the town of Deschambault Lake, SK for which we express our gratitude. Drilling services were contracted to Bryson Drilling of Archerwill, Saskatchewan.

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and a Director of Taiga Gold Corp., has prepared, reviewed, and approved the scientific and technical disclosure in this news release.

About Taiga Gold Corp

Taiga Gold Corp. was created in 2018 through a plan of arrangement with Eagle Plains Resources Ltd. and owns 6 projects targeting gold located within the Trans Hudson Corridor in the area near the Seabee Gold Operation, owned and operated by SSR Mining. Taiga's flagship Fisher property is currently being explored by the Fisher JV, which is owned 20% by Taiga. Taiga also owns a 2.5% NSR over the majority of the Fisher property area, which includes a $100,000 annual advance royalty payable to Taiga. Taiga's 100%-owned Leland, Chico and SAM properties are currently under option to partners SKRR Exploration, Aben Resources and Tactical Resources Corp (formerly DJ1 Capital), respectively. Taiga continues to advance its 100%-owned Orchid and Mari Lake projects.

Taiga's objective is to focus on the exploration and development of its gold projects located adjacent to the Seabee Gold Operation and along the Tabbernor Fault structure in eastern Saskatchewan, a highly prospective mining jurisdiction which was recently recognized by the Fraser Institute as one of the best places in the world in terms of Investment Attractiveness. Throughout the exploration and development process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on TGC, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: info@taigagold.com or visit our website at http://taigagold.com

Cautionary Note Regarding Forward-Looking Statements

Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Taiga Gold Corp.



View source version on accesswire.com:
https://www.accesswire.com/660225/Taiga-Reports-Drilling-Results-from-the-Orchid-Gold-Project-Saskatchewan

Today’s News

Marvel Applies For Work Permits At Hope Brook, Contiguous To Falcon Gold – Benton & Sokoman

VANCOUVER, BC / ACCESSWIRE / September 20, 2021 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased…

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VANCOUVER, BC / ACCESSWIRE / September 20, 2021 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce its exploration plans on its Hope Brook Project which is strategically located contiguous to Sokoman - Benton Joint Venture, Falcon Gold and First Mining's ground which is optioned to Big Ridge Exploration. The company has filed initial permits for its first phase of exploration which includes high resolution magnetic gradiometry surveys, a proven method to sort the structural complexities in geological terranes. The Company will also be sending prospecting crews to the area to begin baseline prospecting to determine if the magnetic trends highlighted in regional government surveys are due to similar mineralized structures as those hosting the nearby Sokoman / Benton new Lithium discovery.

Figure 1. Location of Marvel's Hope Brook gold property contiguous to First Mining and the Sokoman-Benton joint venture.

Most recently, Sokoman/Benton made headlines announcing the first High Grade Discovery of Lithium bearing pegmatites at their Golden Hope project. It is important to note this discovery is less than 10 km away from our ground and appears to be the same structural corridor. The 35 grab and chip samples are noted in the Sokoman/Benton NR (September 16th 2021) were collected over a 2 km distance. Their sampling program confirmed the presence of lithium pegmatites, and the first significant occurrence of Lithium documented in the province of Newfoundland and Labrador, Canada.

Karim Rayani Chief Executive Officer commented, "Marvel and our sister company Falcon Gold have made a lot of noise as of late not only in acquiring sizable land positions tied on to major structures but also following the structures to find what we believe are hidden gems that have been overlooked and passed by. Sokoman-Benton's new Lithium discovery is less than 10 km away and is a testament to our business model."

Marvel's Hope Brook 19,075 hectare property is hosted within the Exploits subzone of the central Newfoundland gold belt. The property covers extensions or is proximal to two major structures linked to significant gold prospects (Cape Ray; Matador Mining) and deposits (Hope Brook; First Mining) in southern Newfoundland. Rock lithologies and structures on the property are also related to those associated with Marathon Gold's Valentine gold deposits, Sokoman's Moosehead gold project and New Found Gold's Queensway gold project. Marvel's land position straddles both the eastern and western extents of recent land acquisitions by the Sokoman/Benton JV partnership, with Marvel now controlling areas of considerable structural complexity marked by large-scale fold and fault structures, which provide important structural controls (traps) for gold mineralization within this area.

Within this immediate area, the most significant deposit is the Hope Brook Gold Mine, which was in production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit is now owned by Coastal Gold Corp., which has outlined an additional 6.33 million tonnes at an average grade of 4.68 grams per tonne gold for 954,000 ounces of gold in the indicated and inferred categories.

Qualified Person

The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Great Burnt property claim group particularly regarding historical exploration, neighbouring companies, and government geological work.

About Marvel Discovery Corp.

Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:

  • Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook - Au Prospects)
  • Atikokan, Ontario (BlackFly - Au Prospect)
  • Elliot Lake, Ontario (East Bull - Ni-Cu-PGE Prospect)
  • Quebec (Duhamel - Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
  • Prince George, British Columbia (Wicheeda North - Rare Earth Elements Prospect)

The Company's website is: https://marveldiscovery.ca/

ON BEHALF OF THE BOARD

Marvel Discovery Corp.

"Karim Rayani"

Karim Rayani
President/Chief Executive Officer, Director
Tel: 604 716 0551 
email: k@r7.capital

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law

Neither 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.

SOURCE: Marvel Discovery Corp.



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https://www.accesswire.com/664826/Marvel-Applies-For-Work-Permits-At-Hope-Brook-Contiguous-To-Falcon-Gold--Benton-Sokoman

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Today’s News

Southern Silver Completes Final Payment to Acquire 100% Interest in the Cerro Las Minitas Silver Project

Vancouver, British Columbia–(Newsfile Corp. – September 20, 2021) – Southern Silver Exploration Corp. (TSXV: SSV) (the "Company" or "Southern Silver")…

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Vancouver, British Columbia--(Newsfile Corp. - September 20, 2021) - Southern Silver Exploration Corp. (TSXV: SSV) (the "Company" or "Southern Silver") purchased a 60% indirect working interest in the Cerro Las Minitas project (the "CLM Project") located in Durango, Mexico from Electrum Global Holdings LP ("Electrum") in September 2020 subject to a security pledge. The Company has now made the final payment to Electrum of US$2 million and issued 7,971,878 common shares equal to US$2 million (based on the prior 20-day VWAP) and now holds a 100% interest in the CLM Project free of such security pledge. As consideration for the acquisition, Southern Silver has paid Electrum an aggregate US$15 million in a combination of cash and common shares.

Benefits to Southern Silver Shareholders:

  • Simplifies ownership structure of the CLM Project
  • Establishes full control over project timeline and removes perceived joint venture discount
  • Provides 100% ownership of a premier, polymetallic deposit in Mexico with substantial resource growth potential (with a focus on targeting high grade silver targets)
  • 150% increase in attributable resources to current resource of Indicated: 134Mozs AgEq and Inferred: 138Mozs AgEq (1)
  • Highly accretive to Southern Silver shareholders
  • Electrum remains a supportive cornerstone investor
  • Southern Silver becomes a more attractive takeover target
  • Enhances the market profile of the Company relative to its peer group

Acquiring Electrum's 60% interest provided Southern Silver with an additional 49.9 million ounces of silver and 1.35 billion pounds of combined lead and zinc to its account based on the current National Instrument 43-101 (2019) Mineral Resources estimate of the CLM Project. Additionally, Southern Silver has become more attractive on a corporate level with the Company's market profile being enhanced by having sole ownership of one of the largest and highest grade, undeveloped silver projects in the world.

Since execution of the agreement in June, 2020, the Company has continued to advance and expand the CLM Project by completing a total of 56 core holes totaling 22,360 metres with drilling recommencing in September 2020. Southern Silver has now tested over 850 metres of strike length along the east side of the Cerro to depths of up to 500 metres, primarily in the South Skarn and Mina La Bocona target areas.

Results from all drill programs since the date of the current Mineral Resource Estimate (2019) will be incorporated into a current mineral resource report on the CLM Project to be released within the next few weeks. As well, the Company continues to proceed with completing a Preliminary Economic Assessment (PEA) for issuance in Q1, 2022.

The Cerro Las Minitas project as of May 9th, 2019 contains a Mineral Resource Estimate, at a 175g/t AgEq cut-off, of(1)

  • Indicated - 134Moz AgEq: 37.5Moz Ag, 40Mlb Cu, 303Mlb Pb and 897Mlb Zn
  • Inferred - 138Moz AgEq: 45.7Moz Ag, 76Mlb Cu, 253Mlb Pb and 796Mlb Zn

Lawrence Page, Q.C., Southern Silver's President and Director, stated: "Electrum was a great joint venture partner, assisting with funds and expertise to allow Southern Silver to achieve the milestone 2019 Resource. Now Southern Silver, as the sole owner of the CLM Project, has explored new zones to establish resources not yet included in the Resource published in 2019. We anticipate that the aggregate Resource, soon to be presented and published, will significantly enhance the magnitude and value of the CLM Project. Electrum remains as a significant and supportive shareholder."

Equity Raises and Warrant Exercises: During the past twenty-one months the Company has raised $35,500,000 in equity raises, warrant and option exercises which has allowed the Company to fund the purchase of the 60% working interest and exploration costs at CLM. $15.5M remains in treasury to fund exploration and PEA costs at CLM and exploration costs at the Oro porphyry copper-gold project located in southern New Mexico, USA.

About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits. Our specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico's Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. The Company engages in the acquisition, exploration and development either directly or through joint-venture relationships in mineral properties in major jurisdictions. Our property portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA.

  1. The 2019 Cerro Las Minitas Resource Estimate was prepared following CIM definitions for classification of Mineral Resources. Resources are constrained using mainly geological constraints and approximate 10g/t AgEq grade shells. The block models are comprised of an array of blocks measuring 10m x 2m x 10m, with grades for Au, Ag, Cu, Pb, Zn values interpolated using ID3 weighting. Silver and zinc equivalent values were subsequently calculated from the interpolated block grades. The model is identified at a 175g/t AgEq cut-off, with an indicated resource of 11,102,000 tonnes averaging 105g/t Ag, 0.10g/t Au, 1.2% Pb, 3.7% Zn and 0.16% Cu and an inferred resource of 12,844,000 tonnes averaging 111g/t Ag, 0.07g/t Au, 0.9% Pb, 2.8% Zn and 0.27% Cu. AgEq cut-off values were calculated using average long-term prices of $16.6/oz. silver, $1,275/oz. gold, $2.75/lb. copper, $1.0/lb. lead and $1.25/lb. zinc. Metal recoveries for the Blind, El Sol and Las Victorias deposits of 91% silver, 25% gold, 92% lead, 82% zinc and 80% copper and for the Skarn Front deposit of 85% silver, 18% gold, 89% lead, 92% zinc and 84% copper were used to define the cut-off grades. Base case cut-off grade assumed $75/tonne operating, smelting and sustaining costs. All prices are stated in $USD. Silver Equivalents were calculated from the interpolated block values using relative recoveries and prices between the component metals and silver to determine a final AgEq value. The same methodology was used to calculate the ZnEq value. Mineral resources are not mineral reserves until they have demonstrated economic viability. Mineral resource estimates do not account for a resource's mineability, selectivity, mining loss, or dilution. The current Resource Estimate was prepared by Garth Kirkham, P.Geo. of Kirkham Geosciences Ltd. who is the Independent Qualified Person responsible for presentation and review of the Mineral Resource Estimate. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.

Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and supervised directly the collection of the data from the CLM Project that is reported in this disclosure and is responsible for the presentation of the technical information in this disclosure.

On behalf of the Board of Directors

"Lawrence Page"

Lawrence Page, Q.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver's website at southernsilverexploration.com or contact us at 604.641.2759 or by email at ir@mnxltd.com.

Neither 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.

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Southern Silver Exploration Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97026.

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Today’s News

BWR Exploration Inc. Receives Assays confirming Nickel and Copper Mineralization in 4 drill holes at its Wholly-Owned Vendôme Sud Project, Abitibi Region of Quebec

TORONTO, Sept. 20, 2021 (GLOBE NEWSWIRE) — BWR Exploration Inc. (TSX.V: BWR) (“BWR” or the “Company”) is pleased to announce receipt of assays…

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TORONTO, Sept. 20, 2021 (GLOBE NEWSWIRE) -- BWR Exploration Inc. (TSX.V: BWR) (“BWR” or the “Company”) is pleased to announce receipt of assays regarding four exploratory drill holes completed earlier this summer (see press release dated August 11, 2021) on its wholly-owned Vendôme Sud Property, located in the Abitibi Region of Northern Quebec, approximately 30 km. north of Val d’Or. The recent drill program by BWR was designed to investigate and confirm historical nickel and copper mineralization at various locations on the property. The program confirmed nickel and copper mineralization of sufficient grade that warrants further exploration. The best assay interval of 6.75m averaging 0.59% copper and 0.56% nickel at a vertical depth of about 50 metres was encountered in the first hole. BWR is currently planning a follow-up exploration program, that may include additional ground and down-hole geophysical surveys, as well as petrographic examination of selected drill core to investigate the mineralizing event.

Assay highlights of the four-hole drill program are presented in the following table:

Hole NumberFromToIntervalCu %Ni %
      
BWR-V-21-0165.5103.337.80.340.27
including65.58115.50.440.36
containing66.7573.56.750.590.56
followed by87.5968.50.540.31
      
BWR-V-21-0279.99111.10.420.27
containing85.5915.50.550.4
followed by99.5121.622.10.170.08
including99.5101.520.90.3
including116121.65.60.290.19
containing119.45120.51.050.090.6
      
BWR-V-21-0310210860.060.14
      
BWR-V-21-0490104.714.70.150.18
including101.2104.12.90.460.48
*Assays presented above are as measured in the core box and not ‘true widths’

BWR successfully validated the two holes that were drilled in 1962 by Canadian Shield Corporation Inc., where the earlier results are comparable to the recent drill results of holes BWR-V-21-01 and BWR-V-21-02 by BWR. Nearby, (approximately 100 metres north) a fairly deep (150m + +) magnetic anomaly that had been interpreted as a mafic or ultramafic intrusive has also been confirmed and is anomalous in nickel, this intrusive may be the heat source for the observed alteration in the region. BWR’s third hole explored this geophysical anomaly to about 200 meters vertical depth. Hole BWR-V-21-03 encountered 6 meters of anomalous nickel values (0.14% over 6 meters). The historical “C Zone” is located approximately 1 km to the west of the “A Zone” where drilling in 1963, by Canadian Shield, identified similar mineralization for the “C Zone” as at the “A Zone”. BWR completed hole BWR-V-21-04 at the approximate location of the earlier hole, confirming the tenor of mineralization encountered in 1963 by Canadian Shield.

Assay results and discussion for Holes BWR-V-21-01 and BWR-V-21-02

These two holes were drilled in the “A-zone” attempting to replicate and/or confirm historic results from DDH 5-62-5 and 62-13 drilled by Canadian Shield in 1962. BWR’s first two holes intersected what appears to be a steeply dipping volcanic assemblage of rhyolite intercalated with intermediate to mafic metavolcanics. The mafic components appear moderately chloritized with pervasive quartz-carbonate veining. Relatively wide zones of moderate mineralization were encountered in holes BWR-V-21-01 and BWR-V-21-02 of 37.8m in hole 01 and 11.1m plus 22.1m in hole 02. These measurements are down hole core measurements, not true widths.

Hole BWR-V-21-01 was drilled at a dip of -50 degrees, bearing 205 degrees (SW) being a similar attitude to historical hole DDH 5-62-5 reportedly drilled 50 years earlier. The first hole by BWR intersected a pervasive mineralized package with intriguing assays of 0.34% Cu and 0.27% Ni over a drill length of 37.8 metres consisting of variably altered and mineralized ultramafic volcanics (66.75m to 73.5m that assayed 0.59% Cu and 0.56% Ni), weakly mineralized and altered rhyolite (79.8m to 88.9m), variably mineralized and altered mafic volcanics (88.9m to 103.3m), the hole ended in relatively poorly mineralized rhyolite at 201 metres.

Hole BWR-V-21-02 was drilled at a dip of -60 degrees, bearing 205 degrees (SW) undercutting the previous hole (BWR-V-21-01). In this hole the drill intersected an interpreted down dip extension of the mineralized package encountered in the first hole. It is described as containing pervasive mineralization between 79.9m to 91m representing 11.1 metres in drill core length that assayed 0.42% Cu and 0.27% Ni and 116m – 121.6m representing 5.6m in drill core length that assayed 0.29% Cu and 0.19% Ni. The mineralized zone consists of variably disseminated to semi-massive mineralized ultramafics (85.5m to 91m that assayed 0.55% Cu and 0.4% Ni), as well as a variably mineralized rhyolite from 91m to 117.3m, followed by weak to variably mineralized ultramafics from 117.3m to 122.7m. The second hole ended in poorly mineralized rhyolite at 252 metres.

Assay results and discussion for Hole BWR-V-21-03

This exploratory hole was drilled at a dip of -65 degrees, bearing 220 degrees (WSW), designed to intercept a geophysically-rendered aeromagnetic high coincident with an excess mass (gravity) anomaly, akin to an ultramafic intrusive, interpreted as being related to the mineralized mafic-ultramafic lenses observed in holes BW-V-21-01 and 02, located approximately 100 meters south. This hole intersected a sequence of mafic (gabbro/peridotite) to ultramafic (komatiite) volcanics, intercalated with granodiorite and other felsic intrusives / tuffs and schists (diorite, granodiorite, rhyolite), ending in a rhyolite tuff at a final drill hole length of 261 meters. Sulphide mineralization was observed to be brecciated and mostly within quartz-carbonate and carbonate stringers and veinlets, suggestive of remobilization into the volcanic sequence. A short 6m section of core between 102m and 108m returned anomalous assays of 0.06% Cu and 0.14% Ni.

Assay results and discussion for Hole BWR-V-21-04

Approximately one kilometer to the west of the “A zone” is the “C zone”. Hole BWR-V-21-04 was designed to test historic “C Zone” mineralization encountered in 1963 drill hole C-63-1 that included 5.5 feet grading 0.77% Ni + 0.65% Cu. Hole BW-V-21-04 was drilled at a dip of -45 degrees, bearing 205 degrees (SW) being the reported attitude of hole C-63-1. BWR’s hole intersected a series of rhyolite tuffs intercalated and intruded by intermediate to mafic units, followed by an ultramafic assemblage of komatiite and peridotite. Mineralization in this hole appeared very similar to the mineralization observed in the first two holes located 100 metres east. Hole BWR-V-21-04 intersected 14.7 meters of mineralization between 90 and 104 metres of core length that assayed 0.15% Cu and 0.18% Ni, including 2.9 meters (between 101.2m and 104.1 that assayed 0.46% Cu and 0.48% Ni.

Sampling protocol and security

Minroc Management Limited’s senior geologist Francis R. Newton (B.Sc.) as project geologist, was tasked with managing this drill project, working alongside Sahil Alurkar (M.Sc.). All samples were selected by Mr. Newton and Mr. Alurkar. Core was logged and cut in a secure site, owned and operated by Services MNG, in Val d’Or, Québec. Minroc Management Limited rented a core shack from Services MNG where Minroc geologists logged the core. Samples were cut with a diamond saw by Services MNG staff, under the supervision of Francis R. Newton, P. Geo, and half of the core for each sample interval placed in labelled plastic bags along with a sample tag for each individual sample. Samples were delivered to ALS Minerals in Val d’Or at the end of the program. Once at the lab, the samples were tested using “ME-ICP41a – Intermediate Level Aqua Regia” for multi-element analysis.

Mr. Francis Newton, P.Geo (OGQ#2129), in collaboration with Mr. Neil Novak P. Geo. are responsible for and have reviewed the technical disclosure of this release. Mr. Newton as an independent qualified person pursuant to NI 43-101 guidelines for technical disclosure, and Mr. Novak as a qualified person (not independent) pursuant to NI 43-101 guidelines both approve the technical content of this press release.

BWR Exploration Inc. is a public company focused on exploring for base and precious metals, with its flagship Little Stull Lake Gold Project in NE Manitoba along with other exploration projects in Northern Ontario, and Northern Quebec, Canada. Management of BWR includes an accomplished group of exploration/mining specialists with many decades of operational experience in the junior resource sector in Canada and abroad. There are 101,442,461 shares currently issued.

Neither the Toronto 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.

For more information about BWR’s Vendôme Sud Project please visit our website:

http://www.bwrexploration.com or call/email:

Neil Novak, P.Geo., President, CEO & Director,
BWR Exploration Inc.
82 Richmond St. E
Toronto, ON
M5C 1P1
Office: 416-848-6866
nnovak@bwrexploration.com

For additional information please contact:

Carl Desjardins
Paradox Investor Services Inc.
Office: 514-341-0408
carldesjardins@paradox-pr.ca


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