Connect with us

Today’s News

Bravada Reports Assays from 2021 Drilling at the Highland Gold/Silver Property, Nevada; Re-Acquires 100% Interest

HIGHLIGHTSAssays for seven reverse-circulation holes received, four holes in the Western Vein zone and three holes in the Big Hammer/Sinter region.Numerous…

Share this article:

Published

on

HIGHLIGHTS

  • Assays for seven reverse-circulation holes received, four holes in the Western Vein zone and three holes in the Big Hammer/Sinter region.
  • Numerous +0.3g/t gold intervals intersected with low values of base metals and low-temperature vein textures, suggesting only shallow levels of the hydrothermal system were tested.
  • A down-faulted northerly extension of the main Western Vein zone was intersected beneath overburden, returning multiple 0.3g/t gold values associated with low-temperature vein mineralogy and textures indicating exploration potential at deeper levels over a strike length of approximately 400 metres.
  • Holes from the Big Hammer/Sinter region indicate significant lateral flow of mineralizing fluids to form widespread sinter, shallow-level alteration and vein textures, and locally significant gold mineralization; major upwelling zones, where potentially high-grade gold may have developed, have not been encountered to date in this region of the property.
  • Geologic mapping at the Geyser and Cabin targets have refined those targets; both targets occur at the intersection of northwest-trending fault zones and an older caldera rim fault. Surface samples of veins contain values up to multi-gram/ton gold.
  • Drilling, mapping, and gravity geophysics were conducted as part of a 2021 earn-in agreement; however, the property has been returned to Bravada, which continues to hold a 100% interest in Highland.

Vancouver, British Columbia–(Newsfile Corp. – October 5, 2021) – Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the “Company” or “Bravada”) reports 2021 Highland drill results conducted by an earn-in partner that has elected to return the property to Bravada without earning an interest. Seven holes (a total of 2,098.4 metres) were drilled in two areas. A preliminary evaluation of the program is summarized below, with further analysis planned.

President Joe Kizis commented, “Highland is a large property with multiple “hot spots” of high-grade gold at surface in the upper portion of a large low-sulfidation-type gold/silver system where undiscovered high-grade vein deposits may be preserved in their entirety. A recent example is Hecla’s discovery in December 2020 of the Green Racer deposit beneath barren sinter on their Midas property, a Nevada mining operation placed in production 23 years ago.”

All four holes in the Western Vein zone returned 1.5 to 9.1 metre intercepts of +0.3 grams per tonne (g/t) gold and anomalous silver within wider zones of anomalous gold values (See HL21-01 through HL21-04 in the attached tables below, compiled by the Company). Bravada has arranged for several of the vein zones to be re-assayed for gold and silver by preparing a new, 500-gram pulp from rejects to evaluate the possibility of particulate gold issues in the vein zones, which has previously been observed on the property.

Vein mineralogy and textures along with very low concentrations of base metals suggest the intercepts are from shallow levels of the hydrothermal system, likely above any extensive zones of high-grade gold. Hole HL21-2 is north of a post-mineral fault that has down-dropped and offset the main vein zone to the west and may have intersected that zone in the 7.6m interval of 0.425g/t Au and 45.0g/t Ag. A 2006 drill hole, HL-8, is located approximately 400m to the NW along projected strike and may be the further extension of the main vein zone. HL-8 (previously reported) intersected several vein zones including 1.5m of 1.8g/t Au and 74g/t Ag and 7.6m of 0.4g/t Au and 17g/t Ag. Only two other shallow holes have been drilled in this overburden-covered area and both intersected similar gold values in similar shallow-level quartz/carbonate vein material.

Three holes were drilled in the eastern portion of the property, one on the Big Hammer target (HL21-07) and two farther east (HL21-05 & HL21-06) that tested faults identified by CSAMT geophysics beneath extensive sinter and overburden. Low concentrations of anomalous gold and arsenic were encountered at shallow depths in the two eastern-most holes, but concentrations returned to background levels above the targeted fault intersections. The hole at Big Hammer did intersect a narrow zone of +0.3g/t gold and widespread anomalous arsenic, but very little quartz veining. The data will be reviewed in greater detail, but it is consistent with extensive lateral flow in this shallow level of the hydrothermal system.

Recent mapping and new gravity geophysics has not yet been evaluated in detail; however, detailed mapping at the Geyser Target has refined the presence of a well-preserved paleo-geyser conduit and surrounding near-vent facies of sinter at the intersection of a NW-trending graben/fault zone and the southern E-W trending Desotoya Caldera margin. The poorly exposed, NW-trending Cabin vein system was also refined, with additional sampling confirming strongly anomalous, multi-gram gold values.

Highland Project 2021 Drilling

HoleID Easting Northing Azumith Dip Total Depth (ft) Total Depth (m)
HL21-01 432,854 4,332,762 200 -53 750 228.6
HL21-02 432,854 4,332,765 240 -50 1005 306.3
HL21-03 432,904 4,332,887 204 -53 895 272.8
HL21-04 432,984 4,332,704 235 -56 1000 304.8
HL21-05 436,286 4,334,153 60 -45 1205 367.3
HL21-06 436,283 4,334,150 138 -55 825 251.4
HL21-07 435,674 4,333,416 20 -45 1205 367.3
NAD 1983 Zone 11 6,885.0 2,098.4

 

Highland Project 2021 Drilling – Intercepts greater than 0.3g/t Au

HoleID ft-From ft-To ft-Interval m-From m-To m-Interval Au_ppm Ag_ppm Cu_ppm Pb_ppm Zn_ppm As_ppm
HL21-01 395 400 5 120.4 121.9 1.52 0.350 11.3 8 4 11 24
450 480 30 137.2 146.3 9.14 0.429 13.8 19 9 40 67
610 615 5 185.9 187.4 1.52 0.317 6.2 16 9 47 38
 
HL21-02 190 195 5 57.9 59.4 1.52 1.400 1.7 18 11 66 48
295 300 5 89.9 91.4 1.52 0.331 8.7 15 7 48 39
370 375 5 112.8 114.3 1.52 0.375 7.1 17 11 74 82
585 590 5 178.3 179.8 1.52 0.329 21.2 13 11 25 40
740 765 25 225.5 233.2 7.62 0.425 45.0 11 9 36 36
935 940 5 285.0 286.5 1.52 0.702 5.3 11 14 51 52
 
HL21-03 85 90 5 25.9 27.4 1.52 0.336 1.7 21 13 66 87
810 815 5 246.9 248.4 1.52 0.690 17.7 10 12 41 35
 
HL21-04 390 400 10 118.9 121.9 3.05 0.623 23.6 14 7 25 30
580 585 5 176.8 178.3 1.52 0.534 39.7 18 9 37 34
 
HL21-07 155 160 5 47.2 48.8 1.52 0.375 1.1 9 16 29 74

 
1) Anomalous values less than 0.3g/t Au are common around reported values, but only 0.3g/t Au & greater values reported here.
2) R.C. drilling with entire sample crushed & puverized to create a ~250-gram pulp with 30-gm FA/AAS for Au & ICP for Ag & other metals.
3) True thicknesses uncertain.
4) Rounding errors converting from footages explain conflicts in intervals for metric intervals.
5) Drill QA/QC program conducted by Headwater Gold as part of earn-in and provided to Bravada, which was reviewed in detail & determined to be acceptable by J. Kizis, QP for Bravada.
6) Intercepts compiled by J. Kizis for Bravada.

In other news, a modification to the Company’s permit has been submitted for an additional five drill sites at the Feeder Target on Bravada’s Wind Mountain project. The additional sites will allow for deeper drilling on the northeast-trending vein zone that was discovered beneath overburden and mine waste material during the Company’s drilling in December 2020 and was traced for 300m along strike beneath cover during a limited 2021 drilling program. The new sites will allow drilling to test deeper along approximately 400m of strike length of the vein zone.

President Joe Kizis commented, “Geologic modeling indicates the vein zone lies along a major pre-mineral fault that juxtaposes Tertiary-age volcanic rocks and sediments on the northwest against impermeable metamorphic basement rocks on the southeast, a favorable setting that may have focused hydrothermal fluid flow to develop high-grade gold mineralization.”

About Highland

The Highland low-sulfidation-type project consists of 192 Federal lode claims for a total of approximately 1,500 hectares and is located along the Walker Lane Gold trend. Previous drilling by Bravada’s US subsidiary intersected vein zones with locally high-grade intercepts; the Company’s best hole, H02013, intersected 1.5 meters (m) of 66.9 grams of gold per ton (g/t) and 397.7g/t silver within a 12.2m intercept of 9.5g/t gold and 109.4g/t silver, with true thicknesses estimated at 65% of the intervals. A thin layer of alluvial gravel covers much of the property and several targets have been identified that have not been previously tested with drilling.

About Bravada

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Bravada’s value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.

Since 2005, the Company signed 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada’s most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company’s website that describe Bravada’s major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.

Joseph Anthony Kizis, Jr. (AIPG CPG-11513) is the qualified person responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.

-30-

On behalf of the Board of Directors of Bravada Gold Corporation

“Joseph A. Kizis, Jr.”

Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation

For further information, please visit Bravada Gold Corporation‘s website at bravadagold.com or contact the Company at 604.684.9384 or 775.746.3780.

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 may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming 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. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company’s projects, and the availability of financing for the company’s development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation 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/98516








bravada gold corporation


Author: Author

Share this article:

Today’s News

Freeman Gold Announces Phase 2 Lemhi Resource Expansion and Beauty Zone Drill Program

Freeman Gold Announces Phase 2 Lemhi Resource Expansion and Beauty Zone Drill Program
Canada NewsWire
VANCOUVER, BC, Oct. 27, 2021

Phase 2 – >4,000 m diamond drill program
>3,200 metres testing strike extensions, primarily to the east and we…

Share this article:

Freeman Gold Announces Phase 2 Lemhi Resource Expansion and Beauty Zone Drill Program

Canada NewsWire

Phase 2 – >4,000 m diamond drill program

  • >3,200 metres testing strike extensions, primarily to the east and west of the current resource
  • 400 metre drill hole to test depth extent of gold mineralization at Lemhi
  • 400 metres of exploration drill holes at the Beauty Zone

CANADIAN SECURITIES EXCHANGE: FMAN

VANCOUVER, BC, Oct. 27, 2021 /CNW/ – Freeman Gold Corp. (CSE: FMAN) (OTCQB: FMANF) (FSE: 3WU) (“Freeman” or the “Company“) is pleased to announce its Phase 2 diamond drill program at the Lemhi Gold Deposit (“Lemhi“) and the new Beauty Zone (“Beauty Zone“). The proposed >4,000 m drill program focuses on adding near surface, oxide ounces to the recently reported maiden Mineral Resource Estimate on July 8, 2021. Drilling will also test the recently delineated Beauty Zone which lies approximately 600 metres west of Lemhi and host to a number of high-grade gold rock samples and coincident gold soil geochemistry.

“We are embarking on a second phase of diamond drilling focusing on ground (patented mining claims) that gives Freeman the highest probability of adding ounces to our resource base. The on-strike east and west extensions at Lemhi are key as these would provide new ounces within our current conceptual pit outline. As well, the Lemhi deposit has never been tested at depth beyond 286 metres where a number of holes were terminated in gold mineralization. Freeman plans to test mineralization at depth with at least one >400 m drill hole. We are also excited about testing the newly identified high grade Beauty Zone which returned 52 rock samples over 1 gram per tonne (“g/t”) gold (“Au“) and 28 over 10 g/t Au with coincident anomalous gold soil geochemistry,” remarked Paul Matysek, Executive Chairman.

Over 90% of the total drilling is anticipated to occur at Lemhi, while the remaining drilling will test the Beauty Zone. Of the 3,600 metres to be drilled at Lemhi, 3,025 metres are focused on resource expansion on strike down to a maximum depth of 300 metres below surface. These holes will follow up on drill holes from previous campaigns that remain open, such as FG20-24C which returned 0.4 g/t Au over 72 metres on section 429825N. One drill hole will test the depth potential at Lemhi down to 400 metres below surface; the hole will also infill in the shallower portions between drill holes FG20-17C (151m @ 2.5 g/t Au) and 35C (189m @ 0.54 g/t Au). A single infill hole is planned on section 429952N where a gap in the mineralization is present.

Figure 1 shows the proposed drilling plan map. Table 1 provides details on a hole-by-hole basis. Sections referred to on the Table can be viewed at www.freemangoldcorp.com.

Table 1.  Fall 2021 Drilling – Lemhi Project

Hole ID

Project

Azimuth

Dip

Proposed
Depth
(m)

Hole Type

Comment

FG21-001

Beauty

0

-90

100

Exploration

Drill test Beauty Zone

FG21-002

Beauty

230

-65

100

Exploration

Drill test Beauty Zone

FG21-003

Beauty

0

-90

200

Exploration

Drill test Beauty Zone

FG21-004

Lemhi

0

-90

400

Resource
Expansion & Infill

Test Mineralization at depth.  Section 430000N. Infill between
FG20-17C (151m @ 2.5 g/t Au)  and 35C (189m @ 0.54 g/t
Au). 

FG21-005

Lemhi

270

-68

250

Resource
Expansion

90m stepout to the West.  Section 429625N

FG21-006

Lemhi

270

-70

250

Resource
Expansion

Step out to the southwest.  Section 429700N.

FG21-007

Lemhi

0

-90

250

Resource
Expansion

Step out to the southwest.  Section 429775N.

FG21-008

Lemhi

0

-90

250

Resource
Expansion

90m step out to the Southwest.  Follow up FG20-24C (72m @
0.4 g/t Au) and 1980’s drilling.  Section 429825N.

FG21-009

Lemhi

0

-90

300

Resource
Expansion

Step out to the East.  Section 429800N

FG21-010

Lemhi

0

-90

300

Resource
Expansion

Step out to the East.  Section 429850N

FG21-011

Lemhi

0

-90

300

Resource
Expansion

90m stepout to the West.  Section 429900N

FG21-012

Lemhi

0

-90

300

Resource
Expansion

40m stepout to the West of 1980’s drilling.  Section 429950N

FG21-013

Lemhi

0

-90

250

Infill

Infill gap in drilling in resource area.  Section 429950N.

FG21-014

Lemhi

0

-90

225

Resource
Expansion

Stepout 40 m to the North-East.  Section 429975N

FG21-015

Lemhi

0

-90

300

Resource
Expansion

90m stepout to the West.  Section 429975N

FG21-016

Lemhi

0

-90

300

Resource
Expansion

85m stepout to the West.  Section 430000N

All drill rock samples are sent to ALS Minerals Division, Vancouver, BC, an independent and fully accredited laboratory in Canada for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma Spectroscopy. Freeman has a regimented Quality Assurance, Quality Control program where at least 10% duplicates, blanks and standards are inserted into each sample shipment. Rock grab samples are by their nature selective and are not necessarily indicative of the general geology or the grade within the Lemhi Gold property.

About the Company

Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned Lemhi Gold property (the “Lemhi Project“). The Lemhi Project comprises 30 square kilometers of highly prospective land. The project hosts a near surface, shallow, high grade oxide gold resource. The pit constrained National Instrument 43-101 (“NI 43-101“) compliant mineral resource estimate is comprised of 749,800 ounces (“oz”) gold at 1.02 grams per tonne in 22.94 million tonnes (Indicated) and 250,300 oz Au at 1.01 g/t Au in 7.83 million tonnes (Inferred). See the NI 43-101 technical report  titled “Maiden Resource Technical Report for the Lemhi Gold Project, Lemhi County, Idaho, USA” with an effective date of June 1, 2021, and signing date of July 30, 2021, as prepared by APEX Geoscience Ltd. and F. Wright Consulting Inc. available under the Company’s profile on SEDAR (www.sedar.com). The Company is focused on growing and advancing the Lemhi Project towards a production decision. The technical content of this news release has been reviewed and approved by Dean Besserer, P.Geol., VP Exploration of the Company and a Qualified Person as defined by NI 43-101.

On Behalf of the Company
William Randall
President & CEO

Forward Looking Statements: This press release contains “forward–looking information or statements” within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are 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 the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties, and assumptions. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.

Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/freeman-gold-announces-phase-2-lemhi-resource-expansion-and-beauty-zone-drill-program-301409893.html

SOURCE Freeman Gold Corp.








Author: Author

Share this article:

Continue Reading

Today’s News

Quaterra Resources Awards Contract for the Further Advancement of Its MacArthur Oxide Copper Project in Yerington, Nevada

Vancouver, British Columbia–(Newsfile Corp. – October 27, 2021) – Quaterra Resources Inc. (the "Company") (TSXV: QTA) (OTCQB: QTRRF) is pleased to announce…

Share this article:

Vancouver, British Columbia–(Newsfile Corp. – October 27, 2021) – Quaterra Resources Inc. (the “Company“) (TSXV: QTA) (OTCQB: QTRRF) is pleased to announce that it has awarded McClelland Laboratories, Inc. (“McClelland“) a key contract to support the advancement of the MacArthur oxide copper project.

McClelland has been appointed to complete the metallurgical testing program of the 12 ton (11 tonne) representative sample collected in the 2021 drilling campaign (see news release dated October 6, 2021, “Quaterra Resources Announces Positive Assay Results at MacArthur Copper Project, Nevada and Potential for Resource Expansion“). McClelland will perform variability testing on fifteen leach columns through Q2 2022 in order to further validate the metallurgical parameters to be utilized in the MacArthur Pre-Feasibility Study (“PFS“).

McClelland, based in Sparks, Nevada, maintains a 44,000 square-foot facility and has been a leader in servicing the mining industry for over 33 years.

Quaterra CEO Travis Naugle states, “We are very pleased to have engaged with a leading Nevada-based contractor to advance a key aspect of the MacArthur PFS so soon after the recently announced oversubscribed private placement. We look forward to continuing with further important steps on the MacArthur oxide copper project.”

About Quaterra Resources Inc.
Quaterra Resources Inc. is a copper-gold development and exploration company focused on projects with the potential to host large-scale mineral deposits attractive to major mining companies. It is advancing its MacArthur oxide copper project in the historic Yerington Copper District, Nevada. It continues to investigate opportunities to acquire prospects in North America on reasonable terms and the partnerships with which to advance them.

On behalf of the Board of Directors,
Stephen Goodman
President

For more information please contact:
Karen Robertson
Corporate Communications
778-898-0057
Email: [email protected]
Website: www.quaterra.com

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended 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.

Technical information contained in this news release has been reviewed and approved by Travis Naugle, MMSA QP, the Company’s CEO and a director, and a qualified person as defined in National Instrument 43-101.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100981






Author: Author

Share this article:

Continue Reading

Today’s News

Phoenix Gold Begins Phase 2 Drilling at York Harbour Cu-Zn-Ag-Co Project in Newfoundland

 

Vancouver, British Columbia – TheNewswire – October 27, 2021 – Phoenix Gold Resources Corp. (TSXV:PXA) (OTC:PGRCF) (Frankfurt:5DE) (“Phoenix…

Share this article:

Vancouver, British Columbia – TheNewswire – October 27, 2021 – Phoenix Gold Resources Corp. (TSXV:PXA) (OTC:PGRCF) (Frankfurt:5DE) (“Phoenix Gold” or the “Company”) is pleased to report that Phase 2 diamond drilling has begun on its York Harbour Mine Property (“York Harbour” or the “Property”) in western Newfoundland, Canada. Three drill holes have been completed during the past 10 days of a planned 27-hole diamond drilling program totalling an estimated 4,225 metres.

The on-site project geologist has reported that the latest drill hole YH21-14 intersected semi-massive and massive volcanogenic sulphide (‘VMS’) mineralization from a drilling length of 105 to 120 m.  After geological and geotechnical logging the drill core from holes YH21-13 and -14 will be transported to the Planet X Exploration facilities in Gander for sampling and later shipping to Actlabs in Ancaster, Ontario for rush ICP analyses and over-limit assaying.

Photographs of the drill core with the reported massive sulphide mineralization intersected by drill holes YH21-13 and 14 are shown as follows.


Click Image To View Full Size

 

       Massive sulphide in DDH YH21-13              Massive sulphide in DDH YH21-14

 

The Phase 1 drilling program was carried out from July 28th to August 14th.  This program, the first on the property since Wolfden Resources’ drilling in 2004, successfully validated historical drilling results with 6 of the 9 drill holes intersecting drill-indicated Cyprus-type VMS mineralization in the historical ‘A’, ‘G’ and ‘H’ zones and encountering similar mineralization both along strike and downdip of these zones.  Two diamond drill holes had to be abandoned when they encountered a wide fault zone, and a third hole intersected a section of the 400 Level adit where it lost circulation and was not completed to its intended depth.

At the present time the Company is awaiting the analytical results for 200 of 300 drill core samples from the Phase 1 diamond drilling program.  Selected mineralized intercepts from 4 of the 9 Phase 1 drill holes were reported in the Company’s news release dated October 12th.  A few of those mineralized intercepts that were previously reported for drill holes YH21-04, -06, -08 and –09 are as follows.

DDH

From

To

Interval

Copper

Zinc

Silver

Target Zone

No.

(m)

(m)

(m)

(%)

(%)

(gpt)

 

YH21-04

180.03

189.54

9.51

1.69

0.13

1.43

H Zone

YH21-06

146.26

194.05

47.79

0.85

0.57

1.49

H Zone

YH21-08

122.30

128.90

6.60

0.62

0.65

3.37

G Zone

YH21-09

5.00

14.54

9.54

1.69

0.11

2.83

A Zone

 

The Phase 2 diamond drilling program has been designed to firstly better delineate the known drill-indicated VMS mineralization for future resource estimations and to explore for additional similar mineralization both along strike and downdip.  Historical underground drill holes report a number of massive and semi-massive mineralized intercepts between and along strike of the known zones but without reported assays.  At two of these historical intercepts the latest drill holes YH21-13 and 14 have confirmed significant VMS mineralization.  Thus, the Phase 2 program will include both delineation and exploration drilling.

In addition to the Phase 2 drilling program exploration work on the property has also included re-locating the No. 4 Brook adit and massive sulphide showing situated approximately 1 km from the current drilling on the eastern limb of the folded volcanic sequence which hosts known VMS mineralization.  On October 16th several field personnel visited the site and reported approximately 15 m of massive and semi-massive sulphide mineralization, including pyrite, chalcopyrite and sphalerite, in a sheared zone near the sloughed-in adit.  This showing is currently accessible via a cut trail but will require upgrading for ATV and drill rig access.  A field crew is currently cutting channel samples across the visible mineralization with shipping and analysis to follow.  This showing is scheduled to be drill tested in early 2022.

Consulting mining engineers of Gemtec, based in St Johns, have been commissioned to apply for permitting approval to enter the 400 Level adit, and in the meantime the Company is investigating the use of a lidar drone to survey the adit this year.

The following figures show the proposed locations of the Phase 2 diamond drilling on the York Harbour property.  The red coloured and hatched bodies in Figures 2 and 3 are the two-dimensional, surface-projected images of the drill-indicated VMS mineralization.  The purple hatched body is the surface projection of the 400 Level adit.


Click Image To View Full Size

 

Figure 1: Plan View of Proposed Phase 2 Diamond Drilling Program, York Harbour Property

 


Click Image To View Full Size

 

Figure 2: Plan View of North Section of Proposed Phase 2 Diamond Drilling Program


Click Image To View Full Size

 

Figure 3: Plan View of South Section of Proposed Phase 2 Diamond Drilling Program

 

About the York Harbour Mine Property

 

The York Harbour Mine Property is located approximately 27 kilometres west of Corner Brook, NL and known to be prospective for its copper-zinc-silver-gold-cobalt massive sulphide deposits. The known mineralization exhibits characteristics consistent with classic mafic-type flow dominated (Cyprus-type) VMS deposits. Similar geological environments and styles of mineralization have formed relatively large copper-zinc deposits elsewhere in Newfoundland at Tilt Cove (9 Mt of between 1% and 12% copper) and in Cyprus at the Mavrovouni mine (15 Mt of 4% copper with zinc and gold); as noted in Messina Minerals Inc. 9th Year Assessment Report (2009).

 

Copper and zinc massive sulphides were first discovered at York Harbour in 1893. Since then a total of 2,134 metres of documented underground drifting and development have been completed for which documentation is available.  Drill core logs and sampling data is available for a total of 19,323 metres of historical drilling that tested eleven lenses or zones of copper-zinc-silver-gold-cobalt massive sulphide mineralization. These zones occur over a 600-metre strike length and many remain open for expansion both along strike and downdip.

 

Most historical exploration and underground development have been concentrated within a 350- metre long segment of a stratigraphic contact between lower and upper basaltic units, and within 150 metres of surface. An overturned synclinal fold is interpreted to extend and repeat the favourable mineralized horizon along the western portion of the property where surface prospects at the No. 4 Brook showing of copper- and zinc-bearing massive sulphides have been discovered and documented in outcrop but have received very little modern exploration attention.

 

J.D. Blanchflower, P. Geo. is a qualified person in accordance with National Instrument 43-101 who has reviewed and accepted the technical material contained in this news release.

 

For further information:

 

Andrew Lee CEO, President and Director

Telephone: 778-302-2257 | Email: [email protected]

Website: www.phoenixgoldresources.ca

 

Cautionary Statement Regarding Forward-Looking Information

 

This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to satisfactory completion of due diligence and any acquisition under the Option and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

 

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 press release.

 

Copyright (c) 2021 TheNewswire – All rights reserved.

Author: Author

Share this article:

Continue Reading

Trending