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Multiple at- or near-surface oxide gold intercepts at the Red Cloud Deposit (“Red Cloud”) over 60 metres (“m”) in thickness, including:
69.08 m @ 1.03 g/t Au from 6.10 m in hole CM23-022A
incl. 48.77 m @ 1.31 g/t Au from 10.67 m
64.01 m @ 0.56 g/t Au from 0.00 m CM23-046
incl. 30.48 m @ 1.00 g/t Au from 0.00 m;
Key near-surface oxide gold intercept in the central “Gap Zone” between Stealth Deposit (“Stealth”) and Red Cloud:
60.96 m @ 0.46 g/t Au from 32.00 m in hole CM23-057
incl. 28.86 m @ 0.74 g/t Au from 33.53 m
Suggests continuity of an oxide gold system along full 1.5-km-long trend;
Entire trend is largely open at depth and along strike;
Anomalous oxide gold intercept 1,700 m step-out along strike to southeast from Red Cloud, 3.04 m @ 0.13 g/t Au from 67.06 m in drillhole CM23-047:
Indicates the mineralized detachment fault gold system is intact and highly prospective along entire open strike length – priority drill target for Q3/Q4 2023;
Total of 2,224 m drilled in 18 RC holes, with assays pending for 7 holes;
Follow-up fieldwork is under preparation for the 3.25-km-long, 1.7-km-long and 1.0-km-long gold trends north and east of the Cyclopic Deposit, as well as the 7 new visible gold occurrences discovered during Q2 2023 soil and rock sampling.
2023 Phase 2 Resource Definition Drill Program
A total of 2,224 metres were drilled in 18 RC holes in the follow-up program, with a focus on testingthe
Drillhole CM23-057, located in the central portion of the
Regional reconnaissance drillhole CM23-047, located 1.7 km along strike (to the southeast) from Red Cloud, returned a significant result from a regional prospectivity point of view. The hole cut 30metres of strongly oxidized detachment fault zone (Fe-oxide rich polylithic breccia, gouge, oxidized quartz fragments) which returned locally anomalous gold, including 3.04 m @ 0.13 g/t Au from 67.06 m. This indicates that the gold-bearing detachment fault that hosts both Stealth and Red Cloud is intact and auriferous at least 1.7 km southeast of and along strike from Red Cloud. The extension to the trend represents a high-priority drill target for Q3/Q4 2023.
Table 1: Significant drillhole intersections from the Q2 2023 follow-up Drill program. All intersections are interpreted to be true width.
Target | Drillhole | From (m) | To (m) | Length (m) | Au (g/t) | Interval Summary |
Red Cloud | CM23-022A | 6.10 | 71.63 | 67.07 | 1.03 | 69.08 m @ 1.03 g/t Au from 6.10 m |
Red Cloud | CM23-022A | 10.67 | 57.91 | 48.77 | 1.31 | 48.77 m @ 1.31 g/t Au from 10.67 m |
Red Cloud | CM23-044 | 9.14 | 18.29 | 9.15 | 1.03 | 9.15 m @ 1.03 g/t Au from 9.14 m |
Red Cloud | CM23-044 | 16.76 | 18.29 | 1.52 | 5.73 | 1.52 m @ 5.73 g/t Au from 16.76 m |
Red Cloud | CM23-046 | 0.00 | 64.01 | 64.01 | 0.56 | 64.01 m @ 0.56 g/t Au from 0.00 m |
Red Cloud | incl. | 0.00 | 28.96 | 30.48 | 1.00 | 30.48 m @ 1.00 g/t Au from 0.00 m |
Regional Recon | CM23-047 | 67.06 | 70.10 | 3.04 | 0.13 | 3.04 m @ 0.13 g/t Au from 67.06 m |
Regional Recon | CM23-048 | 0.00 | 21.34 | 21.34 | 0.10 | 21.34 m @ 0.10 g/t Au from 0.00 m |
Regional Recon | incl. | 13.72 | 16.76 | 3.04 | 0.51 | 3.04 m @ 0.51 g/t Au from 13.72 m |
CM23-057 | 32.00 | 91.44 | 60.96 | 0.46 | 60.96 m @ 0.46 g/t Au from 32.00 m | |
incl. | 33.53 | 56.39 | 28.86 | 0.74 | 28.86 m @ 0.74 g/t Au from 33.53 m |
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Figure 1: Plan map of Q2 2023 follow-up drill program hole locations.
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Figure 1: Cross section A-A’ of oxide gold intercept in drillhole CM23-057, located in the
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Figure 2: Long-sections of oxide gold drilling assays of (A) Cyclopic and (B) Stealth –
Quality Control/Quality Assurance (“QA/QC”)
Samples were collected every 5 feet (1.52 m) and are reduced on-site using a triple-tier Gilson splitter, producing a 2 kg-3 kg assay sample and a 3 kg-5 kg twin sample that can be used for met testing or re-assay work. Coarse blank material, standard reference pulps, and split duplicates are inserted into the sample stream on a 1-in-20 sample basis such that each 23-sample group contains one blank, one duplicate, and one reference pulp. Three standard reference pulps at three different gold grades (0.154 ppm, 0.778 ppm, and 2.58 ppm) are being used. One 1.52 m drill interval in every four intervals is weighed in order to monitor recovery.
Assay samples are placed in shipping sacks together with the field inserts upon completion of each hole. After four holes are completed, all assay samples are transported in their respective shipping sacks to ALS in
Upon arrival in
ALS is accredited to ISO/IEC 17025:2017 standards for specific preparation and analytical procedures. For more information about ALS Geochemistry, please visit the company’s webpage at:https://www.alsglobal.com/geochemistry.
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