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1844 Resources Announces Filing of NI 43-101 Technical Report on the Lac Arsenault Project

SASKATOON, Saskatchewan, Nov. 02, 2021 (GLOBE NEWSWIRE) — 1844 RESOURCES LTD. (TSX-V:EFF) (the “Company” or “1844”), is pleased to announce…

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SASKATOON, Saskatchewan, Nov. 02, 2021 (GLOBE NEWSWIRE) — 1844 RESOURCES LTD. (TSX-V:EFF) (the “Company” or “1844”), is pleased to announce the filing of a technical report for its Lac Arsenault Project entitled, “LAC ARSENAULT PROJECT NI 43-101 TECHNICAL REPORT, QUÉBEC, CANADA”. The Report dated November 01, 2021, prepared in accordance with National Instrument 43-101 (“NI 43-101”) by GoldMinds Geoservices Inc., is available for review on SEDAR website (www.sedar.com).

The Lac Arsenault project is located in the Paspébiac area, Gaspésie region, Province of Québec (Figure 1). The project is 100% owned by 1844 Resources Inc.. There is no mineral resources in the Technical Report.

Figure 1 : Localisation of the Lac Arsenault property
https://www.globenewswire.com/NewsRoom/AttachmentNg/fde5912c-277e-4c2f-909d-7259e07e4c2c

The company completed a diamond drilling program at the Lac Arsenault property in 2021. The drilling program consisted of eleven holes totaling 1951.9 metres with 366 core samples (not including blank, standards and duplicate) analyzed at ALS laboratory (Val d’Or, Québec). All samples were assayed for gold by fire assay (FA ICP-AES finish), silver by aqua regia digestion and multi-elements (ICP-AES). Three drill holes LA-21-03, LA-21-02 and LA-21-08 intersected high-grade mineralization and confirm the extension at depth of the mineralized structures (Table 1).

Table 1 : Significant intercepts from drilling at Lac Arsenault property (core lengths)

Hole Name From To Sample Number Length Au g/t
LA-21-03 34.4 34.7 X340188 0.30 3.23
LA-21-03 34.7 35.8 X340190 1.10 2.23
LA-21-02 107.2 107.3 X340172 0.10 5.84
LA-21-02 111.53 111.8 X340177 0.27 1.19
LA-21-02 123.9 124.15 X340181 0.25 2.92
LA-21-08 138.9 139.07 X340442 0.17 2.02

1 Holes were drilled at various angles and the true width are not known at this time.

During the site visit Mr. Duplessis, Eng., took six surface samples (channels and grab samples, Figure 2). The table (Table 2) below show the assays results from these samples. Assay results for the verification samples confirmed the presence of gold showing with a maximum value of 17.43 g/t Au at Baker vein and a minimum value of 6.04 g/t Au at L4W.

Table 2 : Surface samples Assays (Au, Ag, Cu, Pb and Zn)

Location Sample Type Au g/t Ag g/t Cu ppm Pb % Zn % As %
L4W 21904A Channel   1 17 0.002 0.002 0.135
L4W 21905A Channel 6.04 17 387 0.803 0.269 1.870
L4W 21906A Channel 11.23 129 916 3.520 1.470 3.710
Mersereau 21907A Grab 7.49 114 262 4.720 0.222 5.010
Baker 21908A Grab 17.43 204 266 8.290 0.064 3.610
Marleau 21909A Grab   1 9 0.047 0.002 0.949

Figure 2 : Location of the independent surface samples, Lac Arsenault
https://www.globenewswire.com/NewsRoom/AttachmentNg/24adf279-94fc-49f3-977a-89fae605eddb

The Lac Arsenault property has excellent exploration potential along strike and at depth surrounding the gold showings. The company continue to refine its understanding of the structural complexity to help interpret and define other potentially mineralized structures along the different vein zones.

Qualified Person:

The technical report has been prepared by the following “Qualified Persons”, all of whom are considered independent consultants of 1844 Resources Inc., for the purposes of section 1.5 of the NI 43-101, and all of whom have reviewed the information in this press release that is summarized from the Technical report:

  • Merouane Rachidi. P. Geo., Ph.D., (OGQ#1792)
  • Claude Duplessis, P. Eng., (OIQ #45523)

The technical content of this press release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo, Head of Exploration from 1844 Resources Inc.

Quality Control

During the 2021 drilling program, all individual samples were taken from the NQ core and sawed in half, with one-half sent to ALS laboratory at Val d’Or, Québec and the other half retained for future reference. A strict QA/QC program was applied to all samples; which includes insertion of mineralized standards and blank samples for each batch of 20 samples. All core samples were analysed for gold using fire-assay, for silver and base metals using Aqua regia digestion.

About the Lac Arsenault Project

The Lac Arsenault property is located in the Paspébiac area, Gaspésie region, Province of Québec. The property is 100% owned by 1844 Resources Inc. (Formerly Gespeg Resources Inc.). The Lac Arsenault project composed by 75 exploration claims (CDC) totaling an area of 343.19 Ha. The Lac Arsenault project is located in a politically stable and low-cost mining environment.

About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions “Gaspé, Chibougamau Québec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.

1844 RESOURCES INC.

(signed) “Sylvain Laberge

Sylvain Laberge
President and CEO
514.702.9841
[email protected]

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. 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, except as may be required by law.

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

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