Highlights include: Gold soil anomalies in new target area (west-central region) with 21 of 41 samples yielding anomalous gold values of 10 - 77 parts per billion (ppb) gold
Bedrock grab sample (west-central region) yielded 1.41 grams / tonne (G/T) gold 5 km long target trend (west-central region) adjacent to Melanson Brook Fault
Glacial float sample (northwest region) in a new target area yielded 0.43 G/T gold
Forty-one soil samples were collected during 2023 in the west-central region of the Keymet Property. The samples were collected within one kilometer of the reported location of the Melanson Brook Fault (Wilson, R.A. (compiler) 2013) within what Company management believe is a favourable northeast - southwest trend for gold mineralization adjacent to and south of the Melanson Brook Fault. The 2023 soil geochemical sampling area is approximately 1.4-2 kilometers southwest of the 2021 and 2022 soil sampling area in which gold anomalies were and approximately 700 meters southwest of a gold bearing outcrop discovered in 2002. The 2023 samples were collected along two northwest-southeast traverses spaced approximately 300 meters apart. Sample spacing along the traverses was approximately 25 meters.
Twenty-one of the 41 soil samples returned anomalous gold values in the 10-77 ppb range. Nine samples exceeded 20 ppb gold of which seven of nine samples along an approximately 200 meters long section from the east line exceeded 20 ppb gold (up to 49 ppb Au) defining a target area for further exploration in the opinion of Company management. Multiple samples returned anomalous zinc values including four samples in the 541 - 850 parts per million (ppm) range.
Prospecting was conducted during 2023 in the west-central region of the property within a northeast - southwest trend extending from the area of the 2021-2022 soil geochemical sampling to the area of the 2023 soil geochemical sampling. Twelve rock samples were collected from outcrop and glacially transported float.
A 2023 bedrock grab sample collected west of the 2021-2022 soil samples and northeast of the 2023 soil samples returned a highly anomalous value of 1.41 G/T gold. Two grab samples collected during 2022 from this outcrop also yielded highly anomalous gold values of 0.98 G/T gold and 0.34 G/T gold. Three glacial float samples collected during 2022 approximately 250 meters east of this outcrop yielded highly anomalous values of 1.83 G/T gold, 0.63 G/T gold and 0.48 G/T gold.
The area of anomalous 2022 and 2023 rock samples is located in the reported area of the Alcida East gold mineral occurrence (
The combined anomalous 2021 - 2023 soil samples and 2022-2023 rock samples define a target area approximately 1.5 kilometers long in a northeast-southwest trend adjacent to the Melanson Brook Fault in the west-central region of the property. Company management have found no reports of diamond drilling within this target area.
Prospecting and rock geochemical sampling was also conducted during 2023 in the northwest region of the Keymet Property in an area of little previous work by the Company. Thirteen rock samples were collected in this region from outcrop and glacial float. A sample from an angular sheared metasiltstone glacial float boulder with quartz veins yieled a highy anomalous value of 0.43 G/T gold.
The 2023 soil and rock samples as well as the 2021-2022 soil and rock samples referred to in this news release were submitted to
The historic
Gold deposits occur approximately 1.6-2.4 kilometers southwest of the southwest region of the Keymet Property. These deposits are referred to as the
The Keymet property covers an area of approximately 3,340 hectares and is 100% owned by the Company. Access to the property is excellent with paved roads transecting the property, including a provincial highway.
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This press release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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