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Cartier Resources: Stepping out from the Headframe

The great advantage of a brownfields project, within the shadow of a previous mine’s headframe, is you are almost certain to find gold. But is that enough?

The Chimo Mine in the Abitibi gold belt closed because the price of gold fell far enough that the mine was no longer economic. There was still gold in the mine when it was finally closed in 1997. It was a very good bet for Philippe Cloutier and his team that, like many mines in the Abitibi, drilling for mineralization under the 900-meter mine shaft would be successful. It was also a good bet that drilling in structures which were near the shaft but which had not been mined would also bring good results.

“We were not surprised to find mineralization under the mine or near the mine,” said Philippe Cloutier, President and CEO of Cartier. “The upside of the mineralization we are intersecting is attractive simply because the shaft and the old workings of the mine were already in place. Instead of spending what could easily run to 100 million dollars sinking a new shaft, an operator could dewater and recommission the old mine and get to the gold.”

What was more interesting to Cartier were targets which had been identified at some distance away from the shaft. This figure from an August 28, 1019 press release indicates the targets:

V.ECR, Cartier Resources, gold, Quebec, Chimo Mine

 

The mineralized zones run East to West. Targets which had had some drilling as of August are indicated in red, yellow indicates targets which had been drilled earlier. The challenge was to demonstrate that there was significant mineralization in addition to the mineralization which Cartier knew existed in, and very near, the old mine.

“Zone 5M4 is four hundred and fifty meters out from the shaft,” said Cloutier. “And the yellow line right behind it we call Zone 5NE. Its another “tip of the ice berg”.

The mineralization at Chimo is in “lenses” or, as Cloutier puts it, “easy follow-up targets”. Essentially these are sharply angled three-dimensional areas running East to West which contain gold. The drilling challenge is to figure out how wide these lenses are and how thick and, of course, how deep they go.

Cartier’s initial drilling at Chimo consisted of numerous diamond drill holes focused on the identified targets. But it was largely shallow drilling: most holes tested above 400 meters.

“At 5M4 we have gone beyond “proof of concept”, said Cloutier. “We’re seeing that this is not all that different from the other lenses on the property.”

The target 5NE is behind 5M4 and represents another lens.

In its most recent press release Cartier reported results from deeper holes which intersected both 5NE and 5M4. As is typical in the Abitibi, the lenses extend at depth and the grades seem to be going higher.

“We expected to find mineralization continued all the way down,” said Cloutier. “What we are trying to do with our exploratory drilling is deliver results with intersections grading gold in the right places.”

There is a fine balance to this sort of exploration. On the one hand, there is an abundance of targets to drill, on the other, Cartier has to consider costs and, most importantly, audience.

“We are really drilling for engineers,” said Cloutier. While Cartier has two drills running 24/7 Cloutier is in no rush to put out a 43-101 resource estimate.

“We get asked all the time, “When is the 43-101”. We have invested a lot of time and effort in the design of a robust and optimal drill program “in the shadow of a headframe”,  and we are regularly rewarded with good results and it is only a question of time until we deliver on that outcome,” said Cloutier.

“However, when third parties review the data,” said Cloutier. “we don’t want questions left unanswered.”

“This project was served on a silver platter,” said Cloutier. “Our job is to drill the holes in the most useful places and hope people will connect the dots ”

When Cloutier is satisfied that the identified targets have been properly drilled then it may be time for a 43-101 Resource Estimate. “We want to see how deep targets like 6N1 and 5M4-5NE go. At the same time, we don’t want to “over drill” the project,” said Cloutier.

“At the right time we will bring in the third party consultant to evaluate the resource,” said Cloutier. “We’ll wait until we are sure we’ll have a really good 43-101. Otherwise, why would I anchor the company with a number which was too low?”

Cartier is building out an asset that mining engineers can understand and value. That’s where the money is.

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Cambridge Conference 2019 Part Two V.GPY

V.GPY, Golden Predator, Yukon, gold
Janet Lee Sheriff and Yukon Mining Minister Ranj Pillai look at Golden Predator gold

One of the things I was very much looking forward to at this year’s Cambridge was meeting, in person, Janet Lee-Sheriff, CEO of Golden Predator, (V.GPY). I’ve done several phone interviews with Janet and very much enjoyed the conversation.

Golden Predator had its booth right on the Yukon Trail. At the front of the booth, in a well-lighted plexiglass case was gold. Gold coins and gold bars from GPY’s Yukon Mint and gold flakes processed from the gold GPY is extracting from its bulk sample. Standing behind the case and looking like high end jeweler was Janet herself. Simple, elegant black dress, warm and smart and just a pleasure to speak to.  Behind Janet was her husband and Chairman of Golden Predator, Bill Sheriff.

Janet was handling the front of the shop – Yukon Mining Minister and Deputy Premier, Ranj Pillai was examining the golden merchandise –  and I had an opportunity to actually sit down and talk to Bill. GPY had a press release which would be out before market. While the details are in that release, what Sheriff told me was that GPY’s thinking about the 3 Aces deposit had swung back to its original position from a few years back. Essentially, a view that the high-grade outcrops which GPY had been exploring were, in fact, part of a large and well-controlled system. A system which continued along strike and which is open at depth.

What this means for GPY is that next season’s drilling will not need to be as extensive while being significantly more focused. Essentially, Sheriff seems to think that this season has confirmed the general outline of the 3 Aces mineralization and confirmed that there is plenty of high grade rock along with lesser grades.

Which I suspect is good news for GPY’s Board of Directors and Janet Sheriff. It will mean that less money will be needed and a lot of that money will come from the sale of the gold recovered from this year’s bulk sample. For Golden Predator, every season is making the structure of the 3 Aces project clearer. I wasn’t taking notes but I was impressed when Sheriff said, “We’ve pretty much gone back to what we thought this deposit was when we started drilling.”

 

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Marathon Announces Positive Results from Final 2018 Drilling in the Marathon Deposit and Start of 2019 Drilling Campaign, Valentine Lake Gold Camp, NL

Final 2018 Drilling Results:

  • The final drill holes into the southwestern end of the Marathon Deposit intersected new QTP-Au zones in areas with minimal drilling in the past (Figure 1):
    • MA-18-347 intersected 2.68 g/t Au over 12.0 meters with 8.98 g/t Au over 2.0 meters, and 5.65 g/t Au over 3.0 meters
    • MA-18-344 intersected 3.62 g/t Au over 4.0 meters with 12.60 g/t Au over 1.0 meter
    • MA-18-345 intersected 3.85 g/t Au over 3.0 meters and 2.73 g/t Au over 4.0 meters
    • MA-18-346 intersected 3.11 g/t Au over 3.0 meters
  • January 21st, 2019 Drill Map Figure 1: Location of drill hole collars MA-18-344 to MA-18-347, Marathon Deposit

TORONTO, Jan. 21, 2019 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce the start of the 2019 exploration drilling campaign as well as the results of the final four 2018 drill holes in the southwestern Marathon Deposit, an area with minimal prior drilling and mostly inferred resources. All of these drill holes intersected zones of QTP-Au veining identical in appearance to the gold-bearing QTP veining encountered throughout the Marathon Deposit. All but one, MA-18-346, are in the Marathon PEA pit shell. Drilling in 2019 in the southwestern area of the Marathon Deposit will further define the southwestern extension of the main mineralized corridor and increase measured and indicated gold resources within this area of the expanding Marathon Deposit.

“Marathon is looking forward to another year of success as we commence our 2019 drilling campaign”, said Phillip Walford, President and CEO of Marathon. “Our infill drilling campaign continues to expand existing zones and intersect additional new zones of shallow SW-dipping, in the pit shell envelope in the SW of the Marathon Deposit. This new gold mineralization will be added to the next resource update as we advance towards completion of a Pre-Feasibility Study.”

TABLE 1: Significant assay intervals, Marathon Deposit, Valentine Lake Gold Camp.

DDHSectionFromToCore Length (m)True Thickness (m)Gold g/t
MA-18-34416960545843.81.17
37638043.83.62
including37938011.012.60
MA-18-3451682010010332.61.67
11311632.61.62
11712032.63.85
13113432.61.18
14314632.60.99
26627043.42.73
27627932.62.21
MA-18-34616350838743.21.31
31932232.43.11
MA-18-34716850121532.60.41
535743.40.83
68801210.22.68
including788021.78.98
10811132.65.65
16116654.30.96

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/851f76e2-d3aa-409c-8d54-e378c04ff360

Acknowledgments

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

Quality Assurance-Quality Control (“QA/QC”)

Sherry Dunsworth, M.Sc., P. Geo., Senior VP of Exploration, Marathon’s Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Thorough QA/QC protocols are followed including the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one half retained at site, the other half tagged and sent to Eastern Analytical Limited in Springdale, Newfoundland. All reported core samples are analyzed for Au by fire assay (30g) with AA finish. All samples above 0.10 g/t Au in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported in Table 1 as core lengths and estimated true thickness (80-95% of core length).

About Marathon

Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell. Both deposits are open to depth and on strike. Gold mineralization has been traced down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. The four deposits identified to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.

The Valentine Lake Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.

To find out more information on the Valentine Lake Gold Camp please visit www.marathon-gold.com.

For more information, please contact:
Christopher HaldanePhillip Walford
Investor Relations ManagerPresident and Chief Executive Officer
Tel: 1-416-987-0714Tel:  1-416-987-0711
E-mail: chaldane@marathon-gold.comE-mail:  pwalford@marathon-gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes.  By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com.  Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.

 

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Golden Predator Drilling Extends Major Gold-Bearing Structure at 3 Aces Project, Yukon; Continuity Confirmed 500m Down Dip and 220m Along Strike

Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company”) today announced results of the 2018 drill program in the Central Core Area at the 3 Aces Project in southeast Yukon, Canada, which was completed to test for extensions of the high grade structures outcropping  in the Hearts Zone.   Seven HQ diamond drill holes consistently intercepted two parallel, closely spaced gold-bearing structures along 220m of strike and 500m down dip from the Hearts discovery outcrop.   This was the deepest drilling to date on the project and the structures in the Hearts Zone continue to be open in all directions along strike and at depth.

Golden Predator Executive Chairman William Sheriff commented: “Confirming the continuity and mineralization of the structures down dip and on strike, right where we projected them to be, is a game-changer in terms of demonstrating the size potential of the 3 Aces Project.  It is now clear that the high grade surface outcrops previously discovered in the Central Core Area are not isolated occurrences but rather expressions of a much larger system, which significantly expands the potential at 3 Aces.”

To view 3 Aces property and drill location maps:
http://www.goldenpredator.com/_resources/news/GPY-NR18-01-Hearts-Drilling-Maps.pdf

All seven drill holes cut the structures where they were expected and reported excellent widths of gold mineralization with localized high grades. This drilling confirms that 3 Aces Project structures have persistent lateral and vertical continuity and that these structures likely account for other high grade surface outcrops exposed along the 4.5km long Hearts-Clubs corridor and elsewhere within the 13.5 km2 Central Core Area.

Hearts Drill Program

The exploration drilling program was conceived as a first pass lateral and down dip test of the gold bearing structures that crop out at the Hearts discovery.  Drill collars were off-set along strike for 220m of the Hearts Zone towards the Spades Zone to the east.  The projection of these moderately-dipping structures was tested at various depths to 500m down dip from the Hearts discovery.  Intersections of gold-bearing structures were encountered at the predicted locations in each of these drill holes, confirming both lateral and vertical continuity.  These higher grade parallel structures lie within thick envelopes of anomalous gold mineralization.

This 2,600m drill program was designed to find extensions of the structures in the Hearts Zone and determine if they were mineralized. Relatively small diameter HQ drill tools (58.5 mm in diameter) were used to maximize the number of intersections. At surface, the Hearts discovery outcrop assays above 30 grams per tonne and samples contain abundant coarse gold. Gold values were obtained from the widely-spaced split HQ core in the 2018 program, however, they only provide an initial assessment of the gold present within the mineralized structure due to the small sample volumes.  The larger the sample, the more precise the grade estimate, as we have demonstrated in past drilling and in our ongoing bulk sampling in the Spades Zone.   Assay results from larger diameter PQ core, reverse circulation drilling and bulk sampling generate considerably larger sample volumes and produce more reliable grade estimates than split HQ drill core that has a much smaller sample volume.  Golden Predator will continue to use HQ core to explore for and confirm continuity of mineralized structures at depth and along strike but will rely on larger diameter PQ core and reverse circulation (RC) in-fill drilling for grade determination within the structures.

Composite results from the down dip drill test of the Hearts Zone are:

Hole ID1 From (m)To (m)Thickness2Gold g/t3
3A18-347
incl.
213.02
213.02
227.65
218.21
14.63
  5.19
  0.71
  1.60 
and
incl.
230.00
234.34
244.23
236.50
14.23
  2.16
  0.50
   2.33 
3A18-349
incl.
287.67
294.50
305.50
295.43
17.83
  0.93
  0.94
   7.56 
and
incl.
314.24
316.85
328.68
324.00
14.44
  7.15
  0.84
   1.35 
3A18-350
incl.
219.50
225.90
241.75
226.44
22.25
0.54
  0.57
   8.30 
and
incl.
249.61
252.13
255.85
254.05
6.24
1.92
  1.21
   3.56 
3A18-351
incl.
incl.
and incl
175.00
175.00
175.00
196.40
203.50
177.50
175.55
202.50
28.50
2.50
  0.55
  6.10
  0.93
  3.09
  6.35
   2.31
and
Incl.
220.30
228.58
248.50
239.72
28.20
11.34
  0.74
  1.15 
3A18-352
incl.
incl.
115.35
122.50
125.00
145.50
126.00
126.00
30.15
  3.50
  1.00
  0.83
  4.31
  11.55 
and
incl.
incl.
and incl.
203.00
210.65
211.65
214.50
216.40
216.40
212.50
215.00
13.40
  5.75
  0.85
  0.50
  2.88
  6.56
  31.52
   14.77
3A18-353
incl.
incl.
272.65
275.20
279.65
296.32
284.00
280.78
23.67
 8.80
1.13
  1.06
  2.37
  13.05 
and
incl.
302.72
305.73
310.00
308.13
7.28
2.40
  0.63
  1.29 
3A18-354
incl.
incl.
235.00
259.00
261.00
272.50
267.10
263.00
37.50
  8.10
  2.00
  0.64
  1.88
    6.26 

1Significant intervals are length weighted average grades chosen based on continuity of mineralization and gold grade with composite grade exceeding 0.5 g/t gold.
All holes were HQ core holes cut in half for sample submission
2All intervals are reported as drilled thicknesses; true thicknesses are estimated to be 90-100% of drilled thicknesses.
3Reported Au assay grade sourced from SGS using SGS_GO_FAA 505 method.

A key observation from this drill program is that the high-grade intercepts are surrounded by broad envelopes of lower grade gold.  This observation was not available to GPY during earlier drill programs exploring other high grade structures that crop out in the 13.5 km2 Central Core Area.  These low grade envelopes reliably signal that high-grade gold values will likely be encountered with additional closer-spaced drilling along mineralized structures within the low grade envelope. In the case of the Hearts Zone, GPY believes that the presence of the broad envelopes of mineralization surrounding the gold bearing structures suggest grade enhancement is likely with closer-spaced drilling. Utilizing this observation, GPY can now re-evaluate results from previous programs, like the Clubs Zone, to ensure that the drilling fully tested the target potential.

3 Aces Project, Yukon 

The 3 Aces Project is an orogenic gold target covering 357 km² (35,700 ha) in southeast Yukon. The Company has to date focused exploration on the 13.5 km2 Central Core Area, a broad gold-in-soil anomaly, where numerous orogenic gold-bearing quartz veins have been discovered. Exploration over the past two years has systematically advanced the project by establishing: (1) high gold grades can be reliably sampled; (2) gold mineralization is in predictable stratigraphic structural locations; and (3) gold grades have robust continuity within the recognized controlling features. Results support a stratigraphic structural model that predicts extensive lateral and vertical continuity of the 3 Aces mineral system. Orogenic gold deposits are among the world’s largest and richest such as the California Mother Lode Belt and the Juneau Gold Belt.

Sampling Methodology, Quality Control and Assurance

All analyses for the drill samples were performed by SGS Canada, Inc. with sample preparation in Whitehorse, YT and Burnaby, BC, and assaying in Burnaby, BC.  Drill samples were analyzed for gold using a 50 gram fire assay with atomic absorption finish (GO FAA505) or gravimetric finish (GO FAG505) on over limit results (>100 g/t gold).  Quality control standards include standard reference material, certified blank and field duplicate samples in every sample dispatch.

The technical content of this news release has been reviewed and approved by Jeff Cary, CPG, a Qualified Person as defined by National Instrument 43-101 and Project Geologist for the 3 Aces Project.

Golden Predator Mining Corp.

Golden Predator Mining Corp. is a gold exploration company focused on advancing key projects with significant exploration upside, good infrastructure and community support. The Company is actively advancing the Brewery Creek Project, Yukon, a past-producer with a 2014 Preliminary Economic Assessment prepared in accordance with NI 43-101. At 3 Aces Project, the high grade orogenic gold project with visible gold at surface shows structural continuity at depth.  Bulk sampling and processing at the 50 tpd Company-owned processing plant has demonstrated gold recoveries of over 85% using a chemical-free process. This green gold provides for the production of .9999 gold coins from the Yukon Mint, a wholly-owned subsidiary of Golden Predator.

For additional information:
Janet Lee-Sheriff
Chief Executive Officer
(604) 260-5029
info@goldenpredator.com
www.goldenpredator.com

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations that the private placement will complete as described herein, that the Project will advance through permitting and feasibility.  Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

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Q&A White Gold: White Gold Corp to Acquire QV Gold Project from Comstock Metals

On January 14, White Gold Corp. (V.WGO) put out a press release detailing its acquisition of the QV Project from Comstock Metals Ltd.

White Gold Corp. CEO, David D’Onofrio, was recently interviewed about this acquisition.

 What makes this acquisition a good fit for White Gold?

There are a few aspects of the QV Gold Project that make it an excellent complement to our portfolio of properties in the White Gold District.

First, the 230,000 ounce gold deposit is a good addition to our existing resource at Golden Saddle & Arc and is the same style of mineralization as the Golden Saddle and only 10km away. Second, the property has had extremely limited exploration work to date, and the existing targets share many similarities with our assets including Golden Saddle and Vertigo. Additionally, our team already has extensive experience with the property, including Shawn Ryan, our Chief Technical Officer, who originally staked the property and optioned it to Comstock back in 2010; and Jodie Gibson, our VP of Exploration, who oversaw the discovery drilling of the VG zone deposit!

When the opportunity came up to acquire the property, we immediately jumped on it, and now we are very excited to expand the existing deposit, further advance the other known targets on the property, and deploy our experienced team on this underexplored property.

What kind of work has been completed on the QV property to date?

Most of the exploration to date has been on the VG Zone deposit, which is on the southern end of the property. The VG deposit has only seen approximately 4,300 metres of diamond drilling across 23 holes. 17 of the holes produced the original resource estimate in 2014 of 230,000 ounces of gold, and the remaining 6 holes were drilled in 2017 and were not included in the resources. The 2017 drilling included 1.42 g/t gold over 45.5m, which expanded the mineralization 125 metres down dip from previous drilling, and 1.48 g/t gold over 51.2m, which expanded the mineralization 45m west of previous drilling. Based on these results we are confident that there is significant unrealized potential to add ounces to this deposit.

Additional exploration work on the property has included soil sampling, trenching, geological mapping/prospecting, minor RAB drilling, and a mix of other only grass-root stage activities. The property still remains vastly underexplored and we’re looking forward to letting our exploration team get to work on maximizing the potential of this property.

What kind of drilling results have been produced on the project to date?

Despite the minimal drilling on the property to date, there have been some very significant results, with consistent intervals of 40 to 50 metres of over 1.0 g/t; and one hole up to 78 metres! Highlights include holes QV12-001: 1.03 g/t Au over 78m, including 6.15 g/t Au over 5.6m; QV12-004: 2.23 g/t Au over 42m; QV12-006: 1.45 g/t Au over 60m; and QV13-012: 1.76 g/t Au over 42.3m.

As mentioned, the 2017 drill program also had strong results which weren’t included in the resource, with QV17-018 producing 1.42 g/t gold over 45.5m, growing the mineralization 125 metres down dip from previous drilling. Also, QV17-019 with 1.48 g/t gold over 51.2m, which grew the mineralization 45m west of previous drilling.

What has really grabbed our attention is the similarities between targets on the property, such as the VG Zone deposit and Shadow target, and our existing properties. The VG Zone deposit shares the same structural setting and mineralization style as our nearby Golden Saddle deposit. Additionally, the exploration targets on the north of the property we’re acquiring have the same style of mineralization we saw at our recent Vertigo discovery. There are major opportunities for us to leverage these similarities to maximize the value of this new property.

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Retraction and Clarification of Disclosure in January 15, 2019 News Release

At the request of IIROC, the Company wishes to retract and clarify certain disclosure in its January 15, 2019 news release.  Specifically, the disclosure “doubling resource potential” is a violation of NI 43-101, 2.3(1)(a) – Restricted Disclosure, as “resource potential” is not a recognized term for Canadian securities legislation, nor can “resource potential” be “doubled” and is therefore misleading.  All references to “resource potential” and “doubling resource potential” are retracted.  The drill results disclosed in the news release should have been disclosed as exploration results and are accordingly clarified in this release.

VAL-D’OR, Quebec, Jan. 15, 2019 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports exploration results in compliance with NI 43-101, 3.3 – Requirements Applicable to Written Disclosure of Exploration Information, the following: drill results grading 12.4 g/t Au over 5.0 m included within 5.9 g/t Au over 12.0 m and within a broader section of 45.5 m grading 2.0 g/t Au on the Chimo Mine property, located 45 km east of Val-d’Or. The new 5M4 Zone returned 15.8 g/t Au over 1.0 m included in 2.2 g/t Au over 22.0 m. The position of the intersections, at a depth of 700 m, extends the mineralized Zones 5NE and 5M4 350 m (FIGURE) below previous drill intersections.

Zones 5NE and 5M4, located at the eastern end of the property, are only 25 m apart. The drill hole intersection of 2.0 g/t Au over 45.5 m generates a metal factor of 91, which offers additional options for considering an economic outlook. These new zones could be accessible via 450 m of development from existing mining infrastructures. The FIGURE illustrates the shape of the mineralized zones known to date at Chimo Mine and ongoing exploration aims to further increase their dimensions.

« The results obtained so far confirm the importance of continuing to explore this project in order to increase the number of mineralized gold zones as well as their dimensions. » commented Philippe Cloutier, President and CEO.

The details of the new results received from the laboratory are as follows:

Drill HoleFrom
(m)
To
(m)
Length
(m)
Au
(g/t) 
Gold ZoneGold Structure
CH18-52E1768,0773.05.012.45NE5N
Included within761.0773.012.05.9
Included within740.5786.045.52.0
CH18-52E1813.0814.01.015.85M45M
Included within805.0827.022.02.2
CH18-52758.0759.01.010.95NE5N
Included within757.0772.915.91.6
Lengths are expressed along drill core axis.  The true thickness was not determined.

The Phase II drilling program currently underway is focused on the resource development potential of 7 peripheral gold zones to the main cluster of Zones 5. This program consists of 40 drill holes totaling 15,000 m.

About Cartier

Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec.  Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government.  In 2017, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

Quality Assurance / Quality Control

All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile samples to ensure quality control. The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé, Quebec. The 50 g pulps are analyzed by fire assay and atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the “Metallic Sieve” method.

The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice President for Cartier Resources.  Mr. Lavallière is a qualified person as defined by National Instrument 43-101.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a0c27765-1068-4742-82fa-48770e9b126f

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Marathon Gold 2018 Year in Review and 2019 Plans

Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ), a growth focused gold exploration and development company, provides a summary of our accomplishments in 2018 and plans for 2019.

Highlights:

Resource Growth in 2018

CategoryTonnes (t)Grade (g/t)Gold (oz.)
2017 Measured & Indicated30,478,0001.881,846,500
2018 Measured & Indicated45,146,0001.852,691,400
Changes+48% -2% +46%
2017 Inferred19,021,0001.651,011,700
2018 Inferred26,857,0001.771,531,600
Changes +41% +7% +51%

Our average discovery cost is $10/ oz Au – one of the best in the industry

Preliminary Economic Assessment completed on the Valentine Lake project in 2018

  • Production Rate – 225,100 ounces per year for the first 12 years
  • Recoverable Gold – 2,723,300 ounces
  • IRR and NPV (After-tax) – 30% IRR and $493 million NPV (USD)
  • Payback Period – 2.5 years
  • All-in Sustaining Cost- $666 USD per ounce Au

Drilling Program – The 2019 winter drilling program has commenced. Drilling efforts at the Marathon Deposit will focus on testing the high-grade core of the deposit. The first 200 m drill hole has intersected abundant mineralization with visible gold and the second hole is underway and currently in mineralization.  The success of these drill holes was predicted by our geological model.  Additional winter drilling will be focused in the gap area between Marathon and Sprite where winter drilling conditions are preferred.  This area yielded good drill intersections last year and provides an opportunity for increased open pit resources. There is also a section of this gap not drilled that is closer to the Marathon Deposit that can be drilled in the summer.

Mining and Scheduling Optimization – Both the Marathon and the Leprechaun open pits have access to significant tonnage of high-grade material (above 4g/t Au) in the first 5 years of operations. By stockpiling high grade mill feed during pre-production and stockpiling low grade material during years 1 and 2, an average of 261,400 ounces of gold can be recovered in years 1 to 5. Further optimization of the Marathon, Leprechaun and Victory pits is expected to be included in the Pre-Feasibility Study.

Continued Metallurgical Testing in 2019 – SGS Canada was awarded a metallurgical contract in August 2018 to conduct a comprehensive metallurgical evaluation, building on previous very positive metallurgical studies at the Valentine Lake Gold Project. Heap Leach test work, including column tests, started in September and will run for a minimum of 130 days. Six columns contain 70 kg of material, each crushed to -1/2”, from representative locations in the Marathon and Leprechaun pits. Six other columns contain composite samples, from the Marathon and Leprechaun pits, crushed to -1”, -1/2” and -1/4”. The most advanced columns have leached over 80 days and the results for both the -1/2” and -1/4” samples are highly encouraging. In addition, Mill test work including crushing, grinding, gravity concentration and flotation are ongoing. Results of all test work is expected in the second quarter of 2019 and will be used in support of the Pre-Feasibility Study.

Environment and Stakeholder Engagement – Requests for proposals for the development of an Environmental Assessment (EA) Registration/Project Description were sent to qualified consultants in early January. The document will be completed and submitted to both the provincial and federal regulators in March 2019. Preparations for Stakeholder Engagement meetings are in progress.  Consultation with regulators is ongoing with an increasing focus on efficiently advancing the project through the EA process.

Strengthening the Management Team – Robbert Borst, C. Eng., joined the management team as COO in August 2018 and James Powell, P. Eng. joined the management team in early January 2019 as the Director of Environment and Stakeholder Engagement.

“2018 was an important year for Marathon Gold as we develop the Valentine Lake Gold Camp into one of the top gold projects in Canada,” said Phillip Walford, President and CEO of Marathon Gold. “In 2018, we updated the property resources and completed a robust Preliminary Economic Assessment. As we enter 2019, we will continue to de-risk through infill drilling, metallurgical work and engineering studies, while advancing the project into the Environmental Assessment process.”

About Marathon

Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell. Both deposits are open to depth and on strike. Gold mineralization has been traced down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. The four deposits identified to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.

The Valentine Lake Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.

To find out more information on the Valentine Lake Gold Camp please visit www.marathon-gold.com.

For more information, please contact:

Christopher Haldane
Investor Relations Manager
Tel: 1-416-987-0714
E-mail: chaldane@marathon-gold.com
Phillip Walford
President and Chief Executive Officer
Tel: 1-416-987-0711
E-mail: pwalford@marathon-gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes.  By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com.  Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.

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White Gold Corp to Acquire QV Gold Project from Comstock Metals Ltd; Includes 230,000 Oz Gold Inferred Resource on the VG Deposit Contiguous to the White Gold Property & High Priority New Targets

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company“) and Comstock Metals Ltd. (TSX.V: CSL) (“Comstock” or the “Vendor”) are pleased to announce that they have entered into a binding letter agreement dated January 11, 2019 pursuant to which the Company will purchase from the Vendor the property known as the QV Gold Project (the “Property”) subject to the terms and conditions therein (the “Acquisition”). The Property covers 16,335 hectares (40,000 acres) in the Yukon’s White Gold District, bringing the Company’s total holdings in the White Gold District to 439,000 hectares (1,080,000 acres). The QV Gold Project is contiguous to the Company’s White Gold property which hosts its Golden Saddle and Arc deposits, 20 km southwest of the Company’s Vertigo Discovery on its JP Ross property and 44 kilometres northwest of Goldcorp Inc.’s (TSX: G, NYSE: GG) Coffee project. The Company looks forward to incorporating the Property into its systematic and data driven regional exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC).

“The QV Gold Project is a strategic and attractive compliment to our large portfolio of high-quality assets in the White Gold District and also adds ounces to our existing gold resources at Golden Saddle and Arc,” stated David D’Onofrio, Chief Executive Officer. “This property has seen very limited exploration to date and we are confident that our team, including Jodie Gibson who originally oversaw the discovery drilling, is well positioned to maximize the value of the VG deposit and the other highly prospective targets on the property. The similarities of the deposit and targets on this property to Golden Saddle and Vertigo provide a unique opportunity to leverage our team’s experience in the White Gold District.”

Comstock’s Interim President & CEO Steven H. Goldman stated, “We are delighted to enter into this transaction with White Gold Corp., the leading gold exploration company in Yukon’s White Gold District. Not only does this transaction strengthen Comstock’s balance sheet, it allows Comstock to participate in White Gold Corp.’s continued exploration of the QV Gold Project as well as participate in the upside in White Gold’s other gold deposits, discoveries and developments in the White Gold District.”

Maps & images providing additional information on the Property can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

QV Gold Project

Comstock optioned the QV Property from Shawn Ryan in 2010 and discovered the VG Zone deposit (the “VG”) in 2012 on the southern end of the Property where most of the historic work has been focused. Approximately 4,300 metres of diamond drilling over 23 holes have been conducted on the VG to date. Of these, 17 diamond drill holes formed the basis of a 2014 maiden resource estimate(1) of 230,000 ounces of gold (4.4 million tonnes grading 1.65 g/t gold) in the Inferred category at a cut-off of 0.5 g/t gold.

The mineralization is hosted along a NE trending, gently south dipping structural zone that has been traced for over 700m at surface and consists of disseminated to vein-controlled pyrite with brecciation, stockwork quartz-carbonate veining, and sericite alteration. The VG shares strong similarities to the Golden Saddle deposit both in structural setting as well as mineralization style and is open along strike and at depth. Highlights from historic drilling includes, QV12-001(1): 1.03 g/t Au over 78m; incl. 6.15 g/t Au over 5.6m, QV12-004(1): 2.23 g/t Au over 42m, QV12-006(1): 1.45 g/t Au over 60m, QV13-011(1): 1.36 g/t Au over 42.6m, QV13-012(1): 1.76 g/t Au over 42.3m, QV17-018(2): 1.42 g/t Au over 45.5m, QV17-019(2): 1.48 g/t Au over 51.2m.

The most recent work on the Property occurred in 2017 and included six diamond drill holes on the VG which expanded the footprint of known mineralization beyond the limits of the historic resource calculation. Significant results from the 2017 program included 1.42 g/t gold over 45.5m from 67.5m down hole in hole QV17-018, which expanded the mineralization 125 metres down dip from previous drilling, and 1.48 g/t gold over 51.2m from 98m down hole in hole QV17-019, which expanded the mineralization 45m west of previous drilling.

Additional work on the Property has included soil sampling, GT Probe sampling, trenching, IP-Resistivity surveys, airborne magnetic-radiometric surveys, geological mapping/prospecting and minor RAB drilling. This work has defined other priority targets with similarities to the Company’s Golden Saddle deposit and recently discovered Vertigo zone warranting follow up exploration including the Stewart, Tetra and Shadow zones.

Stewart: Located 5km N-NW of the VG and consists of a 1.5km, E-W, trending gold in soil anomaly, with values from trace to 274.1 ppb Au and anomalous Bi-Ag-Te-Mo. The target occurs adjacent to a Jurassic intrusive that may be associated with mineralization in the area.

Tetra: Located 8km N of the VG and consists of a 1.5km, E-W, trending gold in soil anomaly, with values from trace to 274.1 ppb Au. The target occurs along an interpreted E-W oriented fault based on magnetic data for the area and is open and unexplored to the west.

Shadow: Located 12 km north of the VG zone and consists of multiple gold in soil anomalies, ranging from trace to 514ppb Au and up to 2.7km long, associated with a series of NW and ENE trending structures. Strongly anomalous Ag-Pb-Bi+/-As+/-Mo also occur in the area, and the overall geochemical and structural setting is similar to the Company’s Vertigo discovery 23km to the west.

Large portions of the Property are also unexplored but have strong potential for the discovery of additional zones of structurally-controlled and/or intrusion-related mineralization.

The Property is subject to a 2.0% underlying net smelter return royalty (NSR), of which 1.0% may be purchased for $2,500,000. Annual cash advance payments of $25,000, deductible against the royalty, are payable until commencement of commercial production.

As determined in accordance with NI 43-101 the Property is not considered “material” to the Company relative to the size and stage of development of the Company’s existing portfolio of properties, and accordingly the disclosure in section 2.4 of NI 43-101 is not required.

Terms of Acquisition

In order to acquire its interest in the Property, the Company is required to pay to the Vendor total consideration of C$2,625,000, to be satisfied by a cash payment of C$375,000, the issuance of an aggregate of 1,500,000 common shares in the Company (the “Subject Shares”) and the issuance of 375,000 share purchase warrants (“Warrants”).  Each Warrant will be exercisable to acquire one additional common share of the Company for a period of three years from the closing date of the Acquisition (the “Closing Date”) at an exercise price equal to the greater of (i) $1.50; and (ii) the lowest price permitted by the TSX Venture Exchange (the “TSXV”).

The Acquisition remains subject to various closing conditions, including completion by the Company of satisfactory due diligence, no material adverse change occurring with respect to the Property prior to the Closing Date and receipt of all requisite third-party consents and all other necessary regulatory and other approvals, including, without limitation, the approval of the TSXV.

Advisors and Counsel

Red Cloud Klondike Strike Inc. acted as financial advisor to Comstock and Folger, Rubinoff LLP acted as Comstock’s legal advisor. Cassels Brock & Blackwell LLP acted as legal advisor to White Gold Corp. As an advisor to Comstock on this transaction, Red Cloud is entitled to the payment of advisory fees equal to 5% of the value the transaction up to $2 million and 3.5% of the value of the transaction in excess of $2 million. The fees may be satisfied in part by the receipt of shares and warrants in White Gold Corp.

(1) See Comstock Metals Ltd. Technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR

(2) See Comstock Metals Ltd news release dated Dec. 18, 2017, available on SEDAR

About White Gold Corp.

The Company owns a portfolio of 21,218 quartz claims across 34 properties covering over 423,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 960,970 ounces Indicated at 2.43 g/t gold and 282,490 ounces Inferred at 1.70 g/t gold as set forth in the technical report entitled “Independent Technical Report for the White Gold Project, Dawson Range, Yukon, Canada”, dated March 5, 2018, filed under the Company’s profile on SEDAR. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Goldcorp Inc. with a M&I gold resource(3) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(3)  of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

(3) Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

About Comstock Metals Ltd.

Comstock Metals Ltd. is an exploration company with several resource projects located in North America. Presently evaluating opportunities in the battery metal space, Comstock recently secured the Rawhide Cobalt-Silver Project in Ontario, adding to its two advanced gold projects: Preview SW Project in Saskatchewan and the QV Project located in the White Gold District of the Yukon.

Comstock also has a joint venture with, and equity investment in, E3 Metals Ltd. (TSX.V: ETMC) a Petro-Lithium company located in Alberta, Canada. For more information about E3 Metals, please visit their website: www.e3metalscorp.com.

Qualified Person

Jodie Gibson, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the completion of the Acquisition; the anticipated benefits to the Company, the Vendor and their shareholders respecting the Acquisition; the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or the Vendor to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company and Vendor relating to the Acquisition; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; the receipt of all applicable regulatory and third party approvals, as required, for the Acquisition; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of each of the Company and Vendor. Although the forward-looking statements contained in this news release are based upon what management of the Company and Vendor believe, or believed at the time, to be reasonable assumptions, the Company and Vendor cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. Neither the Company nor the Vendor undertakes any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(416) 643-3880
ddonofrio@whitegoldcorp.ca

Steven H. Goldman
President, CEO and Director
Comstock Metals Ltd.
(416) 867-9100
s.goldman@goldmanhine.com

Photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/a0df67b2-441b-491d-b614-

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Aben Resources Uncovers High-Grade Gold at the Justin Project Lost Ace Zone, Yukon Territory

Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) is pleased to provide a summary of exploration results from the 2018 exploration program on their 100% owned Justin Gold Project in the Yukon Territory. Work completed in 2018 included the collection of 19 channel and 28 chip samples from 5 trenches, 16 rock samples, 7 till samples and 240 soil samples with coverage totaling 6.0 line-km. The 2018 field program focused primarily on the Lost Ace Zone, a gold bearing zone discovered in 2017. Lost Ace is located 2 kilometers west of Aben’s POW Zone where past drill results indicate potential for bulk-tonnage gold mineralization with intercepts reported ranging from trace values to highs of 1.19 g/t Au over 60.0 m (including 2.47 g/t Au over 21.0 m) and 1.49 g/t Au over 46.4 m.

Justin Gold Project, Yukon location map:
https://www.abenresources.com/site/assets/files/4303/abn_justin_project_-_property_location_2017_small.jpg

2018 results from trenches TR18-001 through TR18-005 (115 m2) from the Lost Ace quartz stockwork vein zone include:

  • TR18-001 returned values ranging from trace to an average of 20.8 grams/tonne (g/t) gold (Au) over 4.4 m, including 88.2 g/t gold (Au) over 1.0 m. Visible gold was observed in the sample returning 88.2 g/t gold (Au).
  • The 2018 high-grade samples were collected 127 meters from 2017 discovery outcrop and within 20 meters from where a bulk soil sample returned 1135 visible gold grains in 2017.
  • TR18-003 returned 0.9 g/t gold (Au) over 1.0 m while three grab samples from a large quartz boulder excavated from the contact zone returned 7.3 g/t Au, 3.9 g/t gold and 4.6 g/t gold respectively. Visible gold was also noted in one of these samples. TR18-003 was completed as an extension to TR17-004 which returned 4.7 g/t gold (Au) over 1.0 m. This particular trend of quartz stockwork veining has now been exposed over 8.0 meters.

Mineralization at Lost Ace is interpreted to be orogenic-style quartz-gold veins that bear a strong resemblance to and share similar geologic setting with Golden Predator’s adjacent 3 Aces Property. Previous exploration at Justin has successfully discovered Intrusion related sheeted veins & vein breccias along with gold bearing skarn mineralization. The new discovery at Lost Ace highlights the existence of a multi-phase hydrothermal system with the potential for overprinting mineralizing systems.

Mike Burke, P. Geo., and former Chief Geologist with Golden Predator Mining Corp. states “The orogenic style mineralization discovered at Lost Ace shares many characteristics with the orogenic veins discovered at the 3 Aces project. Exploration at 3 Aces has shown the regionally extensive stratigraphic contact in the middle Yusezyu Formation contains consistently highly-anomalous gold values. The discovery of gold mineralization in the upper Yusezyu Formation at Lost Ace suggests newly discovered orogenic gold mineralization could occur over a significant stratigraphic extent between the upper and middle Yusezyu Formation on the Justin Property. In addition, the previously discovered intrusive related gold mineralization at the POW Zone would have intruded through the prospective stratigraphy which hosts the older orogenic mineralization in the district potentially enhancing grades in the intrusion related gold system.”

The new zone at Lost Ace is located at the northern end of a 250 meter gold-in-soil soil anomaly that remains open in all directions. The soil geochemical response may be somewhat muted due to the thick glacial cover in the area. Channel sampling at Lost Ace in 2017 returned 1.44 g/t Au over 5.0 m including 4.77 g/t Au over 1.0 meter. Also a bulk soil sample taken from the area contained 1135 visible gold grains, the majority of which were termed ‘pristine’ indicating a proximal bedrock source for the gold.

Coarse Gold Grains from Justin Project, Lost Ace Zone, Yukon:
https://www.abenresources.com/site/assets/files/4303/abn_justin_jn2018_
coarse_gold_grains.jpg

In addition to the new Lost Ace Zone, several other high-priority exploration targets are located within 1 km of the POW Zone. Defined by geophysics and geochemistry, these targets remain untested and represent significant potential for expanding the current extent of the intrusion related gold system.

Table 1 – 2018 Trench Summary Results

ZoneTrenchEastingNorthingComposite Channel Sample Results
Lost AceTR18-0014.40 m @ 20.8 g/t gold
Lost AceTR18-0021.00 m @ 0.3 g/t gold
Lost AceTR18-0031.00 m @ 0.9 g/t gold
Lost AceTR18-004No Significant Results
Lost AceTR18-005No Significant Results

*True thickness is interpreted to be 50-60% of the sampled interval

Analytical and QA/QC description

All samples were submitted to ALS Minerals in Whitehorse for preparation. Geochemical analysis was completed at ALS Minerals Laboratory in Vancouver. The following analytical techniques were used for all rock samples: ME-MS41, Au-AA26 50 g Fire Assay and a select grouping of samples were further analyzed by a Screen Metallic Fire Assay Method Au-SCR24C. All gold values reported in the news release are the total gold value provided by the Screen Metallic Fire Assay Method. The following analytical techniques were used for all soil samples: ME-MS41, Au-ST43 and Au-AROR43 for all samples > 0.1 ppm Au. The Company’s QAQC measures included insertion of external blanks and standards into the sample stream for all rock chip/channel samples. A minimum of one standard sample and one blank sample were inserted for each continuous set of trench samples. Additional QAQC samples were added to the sample sequence at the discretion of the geologist where visible gold was noted in quartz vein material.

Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia, the Yukon Territory, and Saskatchewan. Aben is a well-funded junior exploration company with approximately $5.6 million in its treasury and no debt.

For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.

ABEN RESOURCES LTD.

“Jim Pettit”
____________________________
JAMES G. PETTIT
President & CEO

For further information contact myself or:
Don Myers
Aben Resources Ltd.
Director, Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com

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 release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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Triumph Gold Triples Property Size at Andalusite Peak in NW British Columbia after Identifying Extensive Cu-Au-Ag Mineralization with Grades up to 67% Cu, 500 g/T Ag and 2.8 g/T Au

Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (Frankfurt: 8N61) (“Triumph Gold” or the “Company”) is pleased to announce the results from two days of prospecting and alteration mapping conducted in July of 2018 on the Andalusite Peak property in north western British Columbia, Canada. Based on positive results from the sampling campaign Triumph Gold increased the Andalusite Peak land package from 9.87 km2 to 31.67 km2 via staking. Highlights of results include:

  • Two copper-gold-silver (Cu-Au-Ag) mineralized trends have been delineated, with grades in grab samples up to 67% Cu, 500 grams per tonne (g/T) Ag (sample C00030474), and 2.8 g/T Au (sample C00030466).
  • The strike length of the Gentleman/Julep Trend has been expanded from 140 metres defined in 2017, to at least 550 metres. This trend is now defined by seven samples with >0.5% Cu, and grades up to 3.3% Cu, 22.1 g/T Ag, and 2.8 g/T Au.
  • A newly identified, 1,000 by 300 metre mineralized trend (the Tennessee Trend) has been delineated on a ridge 1.5 kilometres west of the Gentleman/Julep Trend. This trend is defined by fifteen new and historical samples with >0.5% Cu, including grades up to 67% Cu, 500 g/T Ag, and 2.8 g/T Au.
  • Geological mapping has provided better definition of extensive high temperature intermediate and advanced argillic alteration that locally overprints early quartz magnetite veining.

Tables 1 and 2 contain all 2018 samples collected within the Tennessee Trend and the Gentleman/Julep Trend respectively. Maps highlighting the location of the property, alteration corridor, and mineralized trends are on Triumph Gold Corp’s website (Figures).  Grab samples are selective in nature, and the reported mineralization and assay results may not be representative.

Table 1 – 2018 Sample Results from the Tennessee Trend
Sample IDEasting*Northing*Cu (%)Au (g/T)Ag (g/T)
C00030474469862645857167.00.569500.0
C0003046646994164584262.4202.77017.0
C0003040746995264588101.8700.42727.0
C0003040947001564583721.8300.03825.0
C0003047647001764588301.4300.0409.0
C0003046947008664584251.3000.1795.0
10015847010864583601.2390.1584.5
10015947016564582651.1540.23512.1
C0003041047017864582501.0400.0092.0
C0003046747018164582371.0000.0926.0
C00030470470189 64582760.6270.078<2.0
C0003041147021364581570.6060.08619.0
C0003047947021464581220.5200.0444.0
C0003040847021764586110.5000.016<2.0
C0003047747022164585870.4930.005<2.0
C00030468470222 64586070.3920.0894.0
C00030471470234 64586050.3590.025<2.0
C0003047247023464586070.3490.032<2.0
C00030475470240 64585900.2950.0052.0
C0003047347024264583720.2590.050<2.0
10015747024364585430.2510.1003.5
10016047024364585430.2480.0341.9
C0003047847024764585740.2340.0155.0
10015647025264583910.0360.0080.9
C0003048047026164581370.0020.186<2.0
Table 2 – 2018 Sample Results from the Gentleman/Julep Trend
Sample IDEasting*Northing*Cu (%)Au (g/T)Ag (g/T)
1001524716226458580 3.3292.84522.1
C0003046147166464586320.657 0.14711.0
C00030462471656 64586310.6100.0858.0
10015547149364582830.5820.0823.7
C00030406 47149364582840.3810.057<2.0
10015347152864583750.3460.13812.5
10004747174364587680.3230.1835.1
10015147165764586380.2510.0893.5
C0003046447152764583760.1850.0764.0
C000304604716596458636 0.1720.0402.0
C0003045947174664587670.1600.029<2.0
C0003046547147764582490.0360.000<2.0
10004947172064587240.0010.002<0.1
C0003040547162164586810.001<0.005<2.0

Paul Reynolds, Triumph Gold’s President and CEO, comments, “Andalusite Peak is an exciting, early stage pipeline project that has been developed utilizing the same strategies that led to the exceptional success we had drilling our flagship Freegold Mountain project this past year.  I congratulate our technical team for their systematic approach to exploration that has resulted in multiple new discoveries during 2018.”

The Andalusite Peak property was staked by Triumph Gold in January 2017 to cover an alteration “blow out” (a portion of an alteration zone with increased width and alteration intensity) near the center of a 27-kilometre-long corridor of intermediate to advanced argillic alteration that was identified and mapped in 2016 by B.C. Geological Survey geologist Bram van Straaten. Work by Triumph Gold geologists in 2017 verified the alteration zone and identified mineralization in two locations (the Gentleman and Julep showings), south of the alteration zone, with grab samples that graded up to 1.8 g/T Au, 21 g/T Ag, and 2.25% Cu (See PR#18-03 dated January 22, 2018). Sampling in 2018 focused on the area south of the alteration zone and was conducted on two ridge-lines, the one that hosts the Julep and Gentleman showings, and another parallel ridge 1.5 kilometres to the west where historical grab samples graded up to 3.04% Cu, 68.9 g/T Ag and 0.23 g/T Au (B.C. Assessment Report # 30590). On the eastern ridge the Gentleman/Julep mineralized trend is now defined over a distance of 550 metres and remains unexplored along the ridge to the south or down-slope to the east and west. On the western ridge, the Tennessee mineralized trend extends at least one kilometre along the ridge, was sampled on both sides of a plateau where the ridge widens to 300 metres and is open in all directions.

Mineralization on both ridges comprises veins and volcanic-breccia-fill with quartz ± calcite ± epidote ± actinolite ± chlorite gangue and variable proportions of chalcopyrite, bornite, chalcocite, malachite and azurite. Copper bearing minerals also occur along fractures, filling vesicles, and disseminated in wall rock adjacent to veins. Triumph Gold geologists interpret the mineralization on both ridgelines to be part of a single very large mineralized zone greater than 1 by 1.5 kilometres in area.

Evidence for a Porphyry System

Geological mapping by Triumph and regional mapping and geophysical surveys provide important evidence that the Andalusite Peak property is highly prospective for an underlying porphyry deposit:

  1. The property is located in the centre of a regional scale, lithocap-style, belt of alteration, a geological environment typically associated with porphyry copper and high sulfidation Cu-Au systems.
  2. Andalusite Peak contains the most extensive and highest grade Cu-Au-Ag mineralization documented to date in the belt.
  3. The property is centred on one of three known “blow-outs” in the belt. The other two have seen more advanced exploration that has identified porphyry-style alteration and Cu-Au-Mo mineralization below the lithocap (Kaizen Discovery’s Tanzilla property 8 km to the northwest, and Teck’s McBride property 9 km to the southeast).
  4. The alteration mineral assemblage (quartz-andalusite-pyrophyllite) documented in the Andalusite Peak alteration zone represents the highest temperature advanced argillic alteration identified in the belt.
  5. Quartz-magnetite veins mapped by Triumph within the alteration zone indicate possible proximity to a high temperature mineralized core zone/causative intrusion.
  6. The property is underlain by a 10 kilometre long trend with high magnetic response, indicating potential for a buried oxidized (magnetite bearing) intrusive body.

Triumph Triples Andalusite Peak Land Position Through Staking

As a result of the positive 2018 sampling program, and verification of extensive high grade Cu, Ag, Au mineralization on the Andalusite Peak property, Triumph Gold has tripled its land position via staking. The 31.67 km2 Andalusite Peak property now encompasses the full argillic alteration blowout and an approximately 8.5 kilometre strike length of ground south of the alteration zone. The new ground includes ridges, spurs and valleys adjoining and between the ridges that host the Gentleman/Julep Trend and the Tennessee Trend.  It also encompasses significant magnetic anomalies and the Wolf Minfile showing (BC Minfile ID# 104I 056), which includes shear zones and porphyry dykes with strong Cu±Ag mineralization (two contiguous chip samples averaging 1.35% Cu over 10.3 meters), located across a valley 3.3 km east of the Gentleman/Julep trend. Historical (1972) assays for the Wolf showing have not been verified by Triumph Gold Corp.

Notes:

* Coordinates are given in North American Datum 83 (NAD83), Zone 9.

Methods

Two batches of samples were collected on the Andalusite Peak property, and they were analysed by two labs, but using roughly equivalent techniques: samples with ID format C00030XXX were analyzed by ALS Global in North Vancouver, British Columbia; samples with ID format 1000XX were analyzed by Bureau Veritas in Vancouver, British Columbia. Samples at the SGS lab were prepared for analysis according to SGS method PRP89: each sample was crushed to 75% passing 2mm and a 250g split was pulverized to better than 85% passing 75 micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30g nominal sample (method GE FAA313). An additional 35 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40B), over limit samples for copper were retested using the same technique but with ore grade four acid digestion and a higher range of detection (method GA AAS42S), and over limit samples by that technique were retested using X-ray florescence (method GO XRF77B). Samples submitted to the Bureau Veritas lab were prepared for analysis according to Bureau Veritas method PRP70-250: each sample was crushed, and a 250 g split was pulverized to passing a 200 mesh. Gold was tested by fire assay with an atomic emission spectroscopy finish on a 30g nominal sample (method FA330-Au). An additional 45 elements were tested by ICP-AES using a four-acid digestion (method MA200), over limit samples for copper were retested using the same technique but with ore grade four acid digestion and a higher range of detection (method MA370). Quality assurance and control (QAQC) at both labs are maintained through rigorous use of internal standards, blanks and duplicates.

Qualified Person

The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo., VP Exploration for the company, and qualified person as defined by National Instrument 43-101.

About Triumph Gold Corp.

Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company.  Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon.  For maps and more information, please visit our website www.triumphgoldcorp.com

On behalf of the Board of Directors

Signed “Paul Reynolds”
Paul Reynolds, President & CEO

For further information please contact:
John Anderson, Executive Chairman
Triumph Gold Corp.
(604) 218-7400
janderson@triumphgoldcorp.com

Nancy Massicotte
IR Pro Communications Inc.
(604)-507-3377
nancy@irprocommunications.com

Neither the 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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com).  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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