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Goldseek Announces Final Beschefer Drill Observations

Highlights:

– Visual observation on final 2,650m of drilling completed across 8 holes

– The targeted B14 shear zone has been in all holes drilled…

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Highlights:

  • – Visual observation on final 2,650m of drilling completed across 8 holes

    – The targeted B14 shear zone has been in all holes drilled during this program

    – All samples have been delivered, with results expected to be received in batches over the next month

 

October 27, 2021 – TheNewswire – London, OntarioGoldseek Resources Inc. (CNSX:GSK.CN) (FSE:4KG) (OTC:GSKKF) (“Goldseek” or the “Company”) is pleased to announce an update from its 5,000-meter drill program completed at Beschefer in mid-September. The Company reports two significant achievements:

  • – Final holes successfully identified the geological continuity of the high-grade eastern lens with three holes completed up to 175 metres northeast of the Beschefer zone actual limit.

    – Positive mineralization indicators such as the deformation, alteration style and fine grain pyritization were encountered in these final 8 holes drilled.

All holes have intersected the B14 gold-bearing shear zone structure between 100 and 250 meters deep using varied spacing between historical holes and newly drilled targets. The objective sought by this program is to validate high-grade intervals obtained historically, infill drilling on the gold zones and target the expansion of the modelled lenses (see news release dated September 2, 2021).

The Beschefer Project is located approximately 30 kilometres southwest of Wallbridge’s Fenelon Gold Project. On March 3rd, 2021, the Company entered into an option agreement on the Beschefer Project to earn 100% over 4 years from Wallbridge Mining Company Limited (“Wallbridge”) (see news release dated March 3, 2021).

Visual Intercept Highlights from Final 8 Holes:

The B14 gold-bearing shear zone is a 9 to 50 meters thick interlayered package of mafic to felsic volcanic affected by a strong ductile deformation zone identified as a mylonite in previous work. The current interpretation indicates a succession of closely stacked lenses following a dip of 30 to 60 degrees to the southeast and extending along strike over nearly 1km.

 

East lens

Holes BE-21-08 to BE-21-11 are centred on the East lens marked historically by higher grades. These holes were all drilled on the same section as historical holes attempting to duplicate and extend the influence of historical results such as 10.3 g/t over 11.4m from hole BE12-014.  The 2021 drill grid covered 100 meters along dip and this, between a vertical depth of 100 and 250 metres. Observations made so far all indicate a variable thickness of the gold-bearing structure between 9.5 and 50.3 metres. Strong alteration zones characterized by the feldspar-iron carbonate-sericite alteration were intersected in holes BE-12-08 and BE-12-09 with strong pyritization and chalcopyrite occurrences.

    

Step out drilling

Holes BE-21-12, BE-21-13 and BE-21-14 intersected a large felsic volcanic unit located between 100 and 175 metres northeast and along strike from the East Lens eastern limit at a vertical depth between 150 to 250 metres.

 

Felsic volcanics show both brecciated layer and more massive porphyric phases.  A strong carbonate altered and ductile deformed structure followed at the footwall over apparent width varying between 17 and 35 metres. Visual characteristics correspond to different aspects of the Beschefer shallow dipping structure, such as banded pervasive hydrothermal replacement dominated by feldspathization, micro-fracturing and light pyritization. Secondary disseminated magnetite and sporadic chalcopyrite are two other phases identified in these holes and reflect the mineralized environment of the East lens.

DDH

From_m

To_m

Width_m

Observations

BE-21-07

180

188

20.1

Ductile deformation zone affected by strong carbonate alteration, mafic host rocks

Finely disseminated pyrite throughout the unit.

 

BE-21-08

219.45

229

9.55

Discontinuous ductile deformation zone over 1-3 metres intervals

Disseminated pyrite with chalcopyrite hosted in hematite alteration.

 

BE-21-09

212.4

230.2

17.8

 Strong ductile fault centered on a felsic to mafic contacts. Quartz veins stockwork at the hanging wall with pyrite and chalcopyrite.

Carbonate-sericite-feldspar alteration with 5% pyrite over 2m at the faulted contact.

BE-21-10

249.35

299.65

50.3

 Strong ductile fault centered on a felsic to mafic volcanic contact.

 Pyritization over 22 metres, associated with feldspathisation and carbonatization.

BE-21-11

257.1

276.6

19.5

 Strong ductile fault obscured by alteration, associated with light pyritization over the unit.

Centered on a strong feldspar-iron carbonate – sericite alteration envelope over 9 metres.

 

BE-21-12

311.9

329.4

17.5

 Ductile fault in felsic volcanics. Pervasive feldspathization with iron carbonate, sericite over 10 metres.

Associated with variable pyritization, reaching locally 10% in volume. Prominent magnetite association with local chalcopyrite.

BE-21-13

258.6

288.95

30.35

Heterogenous ductile fault and breccia zones in felsic volcanics,

Banded replacement zone composed of interlayered hematite-feldspar and iron carbonate rich lenses.

Finely disseminated pyrite with secondary magnetite throughout the unit.

BE-21-14

185.75

210.3

24.55

Ductile fault and breccia zones in felsic volcanics

Banded replacement zone composing the entire unit including interlayered secondary feldspar, quartz, iron carbonate and sericite.

Over 10% fine grain pyrite over metric intervals, otherwise fine pyritization throughout the entire unit.

True thickness of described intervals is evaluated between 85 and 100% of core length considering intersections angles and current interpretation.

Goldseek’s President & CEO Jon Deluce states, “We continue to hit the targeted mineralization in all of our final holes including our 175-meter step-out on the East Zone, which is a testament to the continuity of the gold system and near resource potential. All samples have been delivered to the lab, and we expect to receive the remaining results in batches over the next month. With the recent announcement of 4.92 g/t gold over 28.65 meters in BE-21-02, we are moving forward with planning a follow-up drill program for this winter.

Also, we would like to point out the identification of what we think is a felsic volcanic centre representing the hanging wall of the Beschefer gold zone. This, combined with the copper anomaly recently highlighted, could represent another opportunity within the Beschefer gold zone.”


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About the Beschefer Project:

  • – Advanced gold exploration project with significant near-term resource potential

    – Located in a favourable orogenic gold setting 45 km northeast of the Casa Berardi Mine and 30 km southwest of Wallbridge’s Fenelon Gold Project.

    – Highlights of the best intersections include 55.63 g/t gold over 5.57 metres in hole BE13-038 (including 224 g/t over 1.23m ; 13.95 g/t over 0.68m and 13.70 g/t over 0.73m), 13.07 g/t gold over 8.75 metres in hole B12-014 (including 58.5 g/t over 1.5m), 3.56 g/t gold over 28.4 metres in hole B14-006 (including 7.42 g/t over 5.5m), 10.28 g/t gold over 8.00 metres in hole B14-35 (including 86.74 g/t over 0.60m), and 12.40 g/t gold over 3.78 metres in hole B11-003. True width in these sections vary between 89% and 99% of the intercepted width.

    – The mineralization shows high-grade gold-bearing structures hosted in a lower grade envelope, which highlights the regional potential along the already defined shear zones located on the Property.

    – Continuous large-scale gold-bearing structure (B-14 Zone) with known continuity and additional known parallel mineralized shear zones.

 

Qualified Person

This press release was prepared by Martin Demers, P.Geo,ogq No 770, who is a qualified person as defined under National Instrument 43-101, and who has ensured the execution of this program and reviewed and approved the technical information provided in this news release.

 

About Goldseek Resources Inc.

Goldseek Resources Inc. is a Canadian exploration company with a portfolio of assets in Ontario and Quebec, Canada. By identifying six projects in world-class mining locations, Goldseek is poised to deliver shareholder value through rigorous exploration and development on these properties. Our mission is to find the next major discovery in the mining camps of Urban Barry, Quevillon, Val D’Or, and Detour Gold Trend in Quebec and Hemlo in Ontario.

 

ON BEHALF OF THE BOARD

Jonathon Deluce

Chief Executive Officer

Telephone: 226-271-5170

 

For more information, please contact:

Goldseek Resources Inc.

E-mail: [email protected]

 

The reader is invited to visit Goldseek’s web site https://www.goldseekresources.com/

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2021 TheNewswire – All rights reserved.





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Today’s News

CSE Bulletin: Delist – Buccaneer Gold Corp. (BUCK)

Toronto, Ontario–(Newsfile Corp. – le 7 décembre/December 2021) At the request of the company the common shares of Buccaneer Gold Corp. will be delisted…

Toronto, Ontario–(Newsfile Corp. – le 7 décembre/December 2021) At the request of the company the common shares of Buccaneer Gold Corp. will be delisted at market close on December 8, 2021.

The Company’s common shares will continue to trade on the NEO Exchange.

_________________________________

À la demande de la société, les actions ordinaires de Buccaneer Gold Corp. seront radiées à la clôture du marché le 8 décembre 2021.

Les actions ordinaires de la Société continueront d’être négociées sur le NEO Exchange.

Date:

Market Close/Clôture du marchés le 8 décembre/December 2021

Symbol(s)/Symbole(s):

BUCK

 

If you have any questions or require further information, please contact Listings at (416) 367-7340 or E-mail: [email protected]

Pour toute question, pour obtenir de l’information supplémentaire veuillez communiquer avec le service des inscriptions au 416 367-7340 ou par courriel à l’adresse: [email protected]




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Reunion Gold reports new drill results at its Oko West Project in Guyana including 2.44 g/t over 46.5 m, 2.22 g/t over 57.0 m and 1.88 g/t over 41.0 m

The results confirm the continuity of the deposit and extend the know mineralization laterally, along strike and at depth into the unweathered rock.LONGUEUIL,…

The results confirm the continuity of the deposit and extend the know mineralization laterally, along strike and at depth into the unweathered rock.

LONGUEUIL, Quebec, Dec. 07, 2021 (GLOBE NEWSWIRE) — Reunion Gold Corporation (TSX-V: RGD) (the “Company”) is pleased to report new significant gold intersections, including 2.44 g/t over 46.5 meters, 2.22 g/t over 57 meters and 1.88 g/t over 41.0 meters as part of its ongoing drilling program at the Oko West Project in Guyana. Hole 47 intersected the deepest mineralized interval so far, with 2.22 g/t over 57 meters at approximately 200 meters vertical depth from the surface (Table 1). These new drill results, which consistently show high grades and intersected lengths, clearly demonstrate that gold mineralization continues at depth in unweathered rock. The results also expand the gold mineralization laterally and continue to show the strong mineralization continuity along a “corridor” more than 1.2 km long. Preliminary metallurgical studies outlined below also show encouraging results with gold recoveries ranging between 78% and 98%.

The objective of the current drill campaign is to confirm the vertical and lateral continuity of gold mineralization previously identified in eight “blocks” straddling shear zones over a 3 km long strike length, within a 6 km long soil geochemical anomaly. Diamond drilling (“DD”) has been focused on testing depth extensions into the unweathered rock below 100 m (Figure 2), as well as testing for lateral extensions between the outlined blocks. The reverse circulation (“RC”) rig is testing the edges of exploration blocks and scouting previously untested targets both laterally and along strike. The Company has so far demonstrated continuous gold mineralization in a “corridor” more than 1.2 km long (see Figures 1 and 3) characterized by zones of intense deformation and hydrothermal alteration in sedimentary, granitic, and volcanic rocks. These zones contain widely disseminated gold in microfractures and metric-scale high-grade veins assaying up to several ounces per tonne.

Carlos Bertoni, Interim CEO, stated: “We are very excited by this round of drill results as they continue to demonstrate the impressive continuity of the gold mineralization outlined to date with long intercepts of good grade. The results successfully expand the known deposit both at depth into the unweathered rock, and laterally, between the previously outlined “blocks.” The deposit remains open to expansion in all directions. We have only started drill testing the southern 3 km of the soil geochemical anomalies.”

The Company restarted its drilling activities at the Oko West Project early in November, following a one-month break to finalize the interpretation of the then recent results and to properly plan the current 9,000-meter drill program, and for equipment maintenance. Assay results presented in Table 1 below shows significant intersections from a total of 1,322 meters in eight DD and 834 meters in nine RC holes, with assay results from two DD holes and ten RC holes not yet received.

Table 1
Drill hole ID Exploration Block From (m) To (m) Length (m) Gold (g/t)
Diamond Drill Holes
OKWD21-43 1 25.50 36.00 10.50 0.65
OKWD21-46 1 61.50 69.00 7.50 1.68
    82.50 90.00 7.50 1.43
    133.50 180.00 46.50 2.44
including   171.00 180.00 9.00 6.85
    186.00 192.00 6.00 1.27
OKWD21-47 4+3 134.75 141.80 7.05 2.44
    154.00 158.50 4.50 1.73
    173.50 230.50 57.00 2.22
OKWD21-48 4+3 54.50 59.55 5.05 2.66
OKWD21-49 4+3 156.00 162.00 6.00 2.90
OKWD21-50 4+3 52.50 57.00 4.50 5.67
    135.50 176.50 41.00 1.88
Reverse Circulation Drill Holes
OKWR21-56 1 16.00 28.00 12.00 5.61
including   18.00 24.00 6.00 10.03
OKWR21-58 1 24.00 38.00 14.00 1.46
    47.00 53.00 6.00 1.95
OKWR21-59 1 75.00 80.00 5.00 1.85
OKWR21-71 1 121.00 128.00 7.00 2.52

The Company has now drilled a total of 6,467 meters in 53 DD holes and 7,836 meters in 91 RC holes since the beginning of the drilling program at Oko West in December 2020, with significant assay results reported in press releases on August 12, September 7, and October 7, 2021. The Company will interrupt its field activities at the Oko West Project from December 17, 2021, and restart early in January 2022 and plans to complete this current drill campaign by the end of March 2022.

Metallurgical testing

The Company completed a maiden scoping-level metallurgical test by bottle-roll cyanide leaching eight mineralized samples at the Actlabs laboratory in Georgetown, Guyana. These samples represent weathered and unweathered rocks from trench and drill hole samples in different host rocks. Positive gold recovery results were received using low cyanide (0.5 kg/t) in under 12 hours of leaching. Gold recoveries range between 78% and 98%. These preliminary encouraging results indicate that gravity concentration followed by cyanidation should improve gold recoveries. The Company is preparing a complete metallurgical testing plan for the Oko West mineralized rocks.

Drill result composites, sample collection, assaying and data management

The Company calculates drill results composites with a minimum length of 2 m, a cut-off grade of 0.3 g/t and 2 m maximum length of internal waste. Gold grades are uncapped. True widths are unknown. Complete drilling results and drill hole data are being posted on the Company’s website. Diamond drill samples consist of half of either HQ or NQ core taken continuously at regular intervals averaging 1.4 m, bagged, and labelled at the site core shed. Reverse circulation drill samples are obtained from a rotary splitter attached to a Metzke cyclone, weighed, bagged, and tagged at the drill site. Samples are shipped to the Actlabs certified laboratory in Georgetown, Guyana, respecting the best chain of custody practices. At the laboratory, samples are dried, crushed up to 80% passing 2 mm, riffle split (250 g), and pulverized to 95% passing 105 μm, including cleaner sand. 50 g of pulverized material is fire assayed by atomic absorption (AA). Initial assays with results above 3,000 ppb gold are re-assayed with a gravimetric finish. Certified reference materials and blanks are inserted at 5% of samples shipped to the laboratory. Assay data is subject to QA/QC using acQuire software and management by an independent consultant.

Qualified Person

The technical information in this press release has been reviewed and approved by Carlos H. Bertoni, P.Geo., the Company’s Interim CEO. Mr. Bertoni is a qualified person under Canadian National Instrument 43-101.

Cautionary Statement

This press release contains certain forward-looking information or forward-looking statements as defined in applicable securities laws. Forward-looking statements are not historical facts and are subject to several risks and uncertainties beyond the Company’s control, including statements regarding plans to complete drilling and other exploration programs, potential mineralization, exploration results and statements regarding beliefs, plans, expectations or intentions of the Company. Resource exploration and development is highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

About Reunion Gold

Reunion Gold Corporation is a leading gold explorer in the Guiana Shield, South America, with a portfolio of projects in Guyana, Suriname, and French Guiana. The Company has an option to acquire a 100% ownership interest int the Oko West Project in Guyana. The Company’s common shares are listed on the TSX Venture Exchange under the symbol ‘RGD.’ Additional information about the Company is available on SEDAR (www.sedar.com) and the Company’s website (www.reuniongold.com). The Company currently has 669.3 million issued and outstanding common shares.

For further information, please contact:

REUNION GOLD CORPORATION
Carlos H. Bertoni, Interim CEO or
Paul Fowler, Manager, Corporate Development
Telephone: +1 450.677.2585
Email: [email protected]

Figure 1: Map of the Oko West Block 4 and adjacent area showing schematic geology, mineralized zones (dashed red lines), and trench (brown), DD (black) and RC drilling (green) results in composite highlights. The locations of the cross and longitudinal sections are shown as green and red lines, respectively. Composite results in this press release are from holes with highlighted labels. 

Figure 2: Geological section looking north near trench 44 in Block 4 shows schematic geology, mineralized zones (dashed lines), trench and drilling results composite highlights (see section location on Figure 1). Intervals with lengths inferior to 5 m are not listed. 

Figure 3: Longitudinal section looking west of the Oko West mineralized “corridor” gold grade block model (block dimensions are 8x8x8 m). Continuity interruptions are daa constrained rather than a lack of mineralization. Some drill holes shown are off section. See 1.2 km bar in Figure 1.








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Quebec Silica Announces Private Placement of up to $2 Million Units and Flow-Through Shares

Vancouver, British Columbia–(Newsfile Corp. – December 7, 2021) – Quebec Silica Resources Corp. (CSE: QTZ) ("Quebec Silica," or the "Company") is pleased…

Vancouver, British Columbia–(Newsfile Corp. – December 7, 2021) – Quebec Silica Resources Corp. (CSE: QTZ) (“Quebec Silica,” or the “Company”) is pleased to announce that it is arranging a private placement of: (i) up to 6,250,000 of units (each, a “Unit“), at a price of $0.16 per Unit; and (ii) up to an aggregate of 5,000,000 of flow-through shares (each, a “FT Share“), at a price of $0.20 per FT Share for aggregate gross proceeds of up to $2,000,000 (the “Offering“).

Each Unit shall be comprised of one common share (“Common Share“) in the capital of the Company and one-half (1/2) of a transferable Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant“). Each Warrant shall entitle the holder thereof to acquire one additional Common Share at a price of $0.20 for a period of two (2) years from the closing date (the “Closing Date“) of the Offering. The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).

The net proceeds from the issuance of the Units will be used for general working capital purposes. The gross proceeds from the issuance of the FT Shares will be used for Canadian exploration expenses and will qualify as “flow-through mining expenditures”, as defined in subsection 127(9) of the Income Tax Act (Canada) and under section 359.1 of the Taxation Act(Quebec) (the “Qualifying Expenditures“), which will be incurred on or before December 31, 2022 and renounced to the subscribers with an effective date no later than December 31, 2021 in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. In addition, with respect to Quebec resident subscribers of FT Shares and who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the “exploration base relating to certain Quebec exploration expenses” within the meaning of section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the “exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses” within the meaning of section 726.4.17.2 of the Taxation Act (Quebec).

In connection with the Offering, the Company may pay finder’s fees and issue finder warrants to eligible registrants consisting of: (i) cash finder’s fees of up to 8% of the gross proceeds of the Offering; and (ii) finder warrants in an amount equal to up to 8% of the number of Units and FT Shares issued pursuant to the Offering, exercisable at a price of $0.20 per Common Share for a period of two (2) years following the Closing Date.

The Offering is anticipated to close on or about December 15, 2021, or such later date as the Company may determine. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadians Securities Exchange (CSE). All securities issued pursuant to the Offering will be subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities legislation.

About Quebec Silica Resources Corp.
Quebec Silica Resources Corp. is a mineral exploration, and development company focused on exploring, developing, and acquiring industrial mineral resources in Quebec, Canada. The Company is currently focused on its wholly-owned Charlevoix Silica Project, near St. Urbane, Quebec, Canada.

Additional information on Quebec Silica. is available at www.quebecsilica.com.

On Behalf of the Board of Directors,

QUEBEC SILICA RESOURCES CORP.

“Raymond Wladichuk, P.Geo.”
Chief Executive Officer

For further information, please contact:
Elyssia Patterson – CFO
Tel: +1 (833) 474-5422

Email: [email protected]

Neither the Canadian Securities Exchange nor it’s Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Quebec Silica’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Although Quebec Silica believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Quebec Silica to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107002





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