Highlights are as follows
An outcropping east-west trending vein structure has been identified in surface reconnaissance work at the JM target located 2.2km NW of the MG gold deposit. Channel sampling of the new vein structure has returned 0.9m @ 35.3 g/t gold (open)
Surface grab sampling completed at the JM vein structure during
Follow-up drilling is in progress at the Machichie NE target where a single hole drilled in 2019 returned 15.9m @ 1.7 g/t gold including 0.5m @ 21.3 g/t gold. Machichie NE is located 150m north of the Machichie target, which recently returned 34m @ 5.4 g/t gold
The reconnaissance drill program has been temporarily suspended due to an outbreak of Covid-19, resulting in positive tests for 10 employees. The reconnaissance drill program is based out of a different location to the follow-up drilling which is in progress at Machichie
JM Target
The JM target at Cuiu Cuiu is located 2.2km NW of the MG deposit and 1.8km NW of the Machichie discovery where recent drilling returned 34m @ 5.4 g/t gold including 13m @ 13.4 g/t gold.
JM has never been previously drill-tested due to the lack of surface outcrop but recent surface sampling has revealed an outcropping quartz vein trending ENE adjacent to a stream draining from north to south where abundant placer gold has been recovered. The airborne magnetic data also suggests an E-W trending structure at this location.
Grab samples taken in
In view of the extremely high-grade results from this new mineralized vein structure, this target will be included in the current reconnaissance drill program and an initial six holes are planned.
About
The Company is a junior resource company engaged in the identification, exploration and development of mineral properties, with a primary focus on gold properties located in
Contact:
Tel: 604.676.5660
Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively 'forward-looking statements'). The use of the words 'will', 'expected' and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the following: strategic plans and future operations, and results of exploration. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.
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