Crystal Lake Mining Provides an Update on Designed Exploration for High-Grade Gold within the Newmont Lake Gold Corridor, NW BC, Golden Triangle, Eskay Camp
Momentum Public Relations
Press Release: September 10, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG) (“Crystal Lake” or the “Company“) is pleased to provide an update on exploration designed to test the Newmont Lake corridor for high grade gold mineralization on the Company’s roughly 700 km2Newmont Lake Project in the heart of BC’s Golden Triangle. The Newmont Lake corridor contains the historic Newmont Lake gold mineral resource, which sits at the western flank of the strongly endowed Eskay Rift. Geological work has established potential for the known deposit to be open along strike. A thorough review of historic drill core, assaying of previously untested drill core, and construction of a 3D model underpins a new understanding of the deposit and has provided a number of targets along strike from the historic resource where potential extensions or new mineral zones may exist.
High-Grade Gold Targets in the Newmont Lake Gold Corridor
Assay results from an extensive program of surface mapping and geochemistry of rock chip samples and previously unsampled core have shown that high grade gold mineralization follows the trend of the McLymont Fault Zone (please see the Company’s News Release dated September 4th, 2019) over a strike length of >8kms centered along the trend of the Newmont Lake resource.
Multiple boulders containing high grade gold mineralization with up to 84.4 g/tonne gold have been traced back to a new target in the Arseno Zone. The boulders are selected samples that are not in situ, the source of these samples is not known and is not necessarily indicative of mineralization hosted on the property. Similar mineralization in outcrop has been traced back to a possible source which is interpreted to be covered by ice. This target is a step-out along trend from the historic Newmont Lake deposit, and drilling is being guided by a combination of outcropping mineralization, alteration, and chargeability response in the IP survey.
Plan View of the Newmont Lake Gold Corridor between NW Zone and Arseno showing locations of IP lines, and the location of the historic NW Zone resource. Historic and 2019 assays are collected from multiple historic boulder samples inferred to be locally sourced. The boulders are selected samples that are not in situ, the source of these samples is not known and is not necessarily indicative of mineralization hosted on the property.
The first 3 drill holes at the NW Zone tested the northern portion in the footprint of the historic inferred resource that contains 1,406k tonnes at an average grade of 4.43 g/t Au, 0.22% Cu and 6.4 g/t Ag at a projected “base case” cut-off grade of 2 g/t Au containing 200,000 oz Au, 6.79 million lbs of copper and 291,000 oz of silver (Mineral Resource Estimate on the North West Zone, Newmont Lake Property, submitted to Romios Gold Resource Inc., May 11, 2007). This resource estimate was based solely on the drill hole data collected by Gulf Minerals in the late 1980’s and early 1990’s. The objective of the initial drilling is to better understand the geological controls on mineralization and evaluate whether historic sampling adequately reflects the grade. Drilling beyond the northern and southern trend of the historic resource is designed to identify extensions of mineralization based on the newly developed geological model. The drill targets have been constrained based on the geological data together with the trend of mineralization and the chargeability response from the 2019 IP survey.
The mineral estimate cited above is presented as a historical estimate and uses historical terminology which does not conform to current NI 43-101 standards. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Although the historical estimates are believed to be based on reasonable assumptions, they were calculated prior to the implementation of National Instrument 43-101. These historical estimates do not meet current standards as defined under sections 1.2 and 1.3 of NI 43-101; consequently, the issuer is not treating the historical estimate as current mineral resources or mineral reserves.
Crystal Lake Expands the Newmont Lake Project
Crystal Lake has staked an additional 5,423 hectares of claims contiguous with the Newmont Lake and Foremore Claims Properties. The total land package now comprises a total 728km2 (72,800 hectares), which makes Crystal Lake the holder of one of the largest and most prospective projects within the Eskay Camp.
Maurizio Napoli P. Geo., VP Exploration of Crystal Lake commented, “Our 2019 exploration program has indicated that the McLymont Fault running through the centre of our Project is an important control of the high-grade gold mineralization in the historic resource of 200,000 ounces completed in 2006. Our sampling campaign of historic drill core that had not been previously assayed has demonstrated that there are unsampled gold bearing intervals within the resource volume implying that a significant amount of gold, silver and copper values may be under-reported within the area of the historic resource. The objective of our current drilling campaign is to expand the current resource and, to discover new high-grade gold zones along the McLymont Fault.”
Crystal Lake’s land package in the Eskay Camp including the newly conjoined Newmont Lake and Foremore properties.
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Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., VP Exploration for Crystal Lake Mining, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
Quality Assurance/Quality Control
Rock samples from the Northwest Gold Zone were sent to MSA Labs’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSA Labs’ analytical facility in Langley, B.C, where they were analyzed for gold using method FAS-121 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 53 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Crystal Lake Mining conducts its own QA/QC program where three standard reference material pulps, two blank reference material samples are inserted for every 100 samples when analyzing rock samples.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
www.crystallakemining.com
For further information please contact:
MarketSmart Communications
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Email: info@marketsmart.ca
Momentum Public Relations
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
Silver Spruce Files NI 43-101 Technical Report on Cocula Gold Project
Momentum Public Relations
Press Release: September 10, 2019
Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) is pleased to announce that it has filed the first NI 43-101 technical report for the Cocula gold project on www.sedar.com. The report, dated August 27, 2019, is entitled, “Geology and Exploration of the Cocula Project, Municipality of San Martin Hidalgo, Jalisco State, Mexico” and was prepared for the Company and authored by Francisco Manual Carranza, CPG, of Hermosillo, Sonora State, Mexico.
“We are pleased to have filed the maiden NI 43-101 technical report for the advanced Cocula gold project. This marks another step completed in our due diligence program, which is progressing and generating new data,” stated Karl Boltz, CEO of Silver Spruce. “The occurrence of widespread gold mineralization at surface, including grades up to 16.65 grams per tonne (g/t) gold assayed from rock chip sampling, indicate robust gold mineralization along with significant presence of lead, zinc, silver and copper.”
The Company will continue its due diligence activities designed to support a definitive purchase decision, subject to its binding Letter of Agreement with ProDeMin, SA de CV (“ProDeMin”).
Qualified Person
Dr. Craig Gibson, Ph.D., CPG, Qualified Person, is responsible for the technical content of this press release.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing development of the Pino de Plata project, located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico. The Company has signed a binding Letter of Agreement to acquire 100% of the advanced Cocula gold project in Jalisco State, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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. The company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
SOURCE: Silver Spruce Resources Inc.
- Published in Mining, News Home, Silver Spruce Resources
Canada Cobalt Closes First Tranche, Increases Financing To $600,000
Momentum Public Relations
Press Release: September 10, 2019
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that crews are mobilizing next week to the Castle Silver-Cobalt mine near Gowganda, Ontario, to commence a Phase 2 underground drill program and accelerate a series of additional initiatives.
The Company has closed the first $475,000 of its recently announced private placement (refer to August 23, 2019 news release) and has increased the financing with strategic investors to $600,000 or two million units at 30 cents per unit (see below for full terms). The second and final tranche will close during the week of September 9.
Canada Cobalt issued 1,583,333 units at 30 cents per unit in this first tranche with each unit consisting of one common share in the capital of the Company and one share purchase warrant. Each warrant entitles the holder to purchase one share of the Company for a period of 24 months from the closing of the offering at an exercise price of 50 cents per share. No finders’ fees are payable in this first tranche. All securities are subject to a four-month and a day hold period expiring on January 7, 2020 in accordance with applicable securities laws and the private placement is also subject to the final approval of the TSX Venture Exchange.
About Canada Cobalt Works Inc.
Canada Cobalt has 100% ownership of the Castle mine and the 78 sq. km Castle Property with strong exploration upside in the prolific past producing Gowganda high-grade Silver Camp of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold market cycle.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service 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 news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/September2019/06/c0597.html
Contact:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
- Published in Canada Cobalt Works, Mining, News Home
Crystal Lake Mining Provides an Extensive Exploration Update on the Newmont Lake Project – Golden Triangle, Eskay Camp, Outlining 2 Major Target Areas for High-Grade Gold, Silver and Copper Systems
Momentum Public Relations
Press Release: September 4, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce further positive results from the ongoing exploration program on the Company’s Newmont Lake Project in the heart of BC’s Golden Triangle, Eskay Camp. Drilling and surface work continue to expand known zones and turn up new discoveries with expansive footprints.
The in-field exploration program that started in May 2019 has collected approximately (approximate values are given as exploration is ongoing):
- 2,500 soil samples for assay
- 1,500 rock samples for assay
- 4,500 hyperspectral samples analyzed in-house via TerraSpec Halo
- 700 core samples from historic un-sampled core for assay
- 12 line-km of induced polarization (IP) geophysical survey
- 300 km2 of geological mapping in a variety of detail
- Over 4,000 meters of diamond drilling with all samples submitted for assay
- Extensive 3D deposit modelling
- Construction of a brand new state-of-the-art 50-person exploration camp
- Construction of a logistical network for future lower-cost exploration
The results of the program have delineated major new discoveries in the Burgundy Ridge Copper-Gold-Silver (Cu-Au-Ag) alkalic porphyry trend, as well as new high-grade gold (Au) targets near the historic gold resource at the NW Zone and along the greater 10km long Newmont Lake Gold Corridor along the Mclymont Fault.
The program continues to produce new mineral discoveries on surface on a weekly basis and, two diamond drill rigs are still turning on both the Burgundy Ridge Copper-Gold-Silver System and the Newmont Lake Gold Corridor Trend.
Burgundy Ridge Cu-Au-Ag Alkalic Porphyry
Results from the 2019 surface exploration and diamond drilling program have confirmed the presence of a large Cu-Au-Ag alkalic porphyry trend over an area which includes Burgundy, Telena and the 72 Zone 2.3 kms away.
Crystal Lake is very pleased by the performance of SwiftSure Diamond Drilling as their drill continues to turn on the first ever diamond drill holes at Burgundy Ridge (See images of 2019 diamond drill core from Hole #7 below). Initial results have visually delineated a Cu-Au-Ag porphyry with related high-grade skarn system first sampled in 2012. No significant work was completed past 2014 until Crystal Lake intersected mineralization at depth in a late-season RC drill program in October 2018. (see press release March 7th, 2019). Preliminary interpretations of surface and drill core indicate a large high-grade skarn body adjacent to megacrystic syenite / epidote-garnet hydrothermal breccia porphyry system.
Newmont Lake’s Burgundy Ridge Copper-Gold-Silver Zone Displaying Completed Drill Hole Orientations and Mineralization Showings
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Further drilling approximately 2.3 kilometers to the northeast along the Burgundy – Telena – 72′ Zone trend intercepted new mineralization hosted in potassic/hematite altered intrusions in the form of disseminated, and vein-hosted chalcopyrite + bornite adjacent to historic high-grade Cu-Au-Ag skarn-type mineralization.
Unprecedented ice/snow retreat is exposing new mineral showings on surface along the trend consisting of potassic/hematite altered megacrystic to porphyritic syenites with a variety of chalcopyrite mineralization styles.
Chalcopyrite with minor malachite mineralization dominating the cement of a hydrothermal breccia with K-feldspar altered megacrystic syenite clasts. Assays pending. Image starting at 169m in BRDDH19-013; the 7th diamond drill hole at Burgundy Ridge. Note mineralization is visually high-grade and not representative of the entire hole.
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Massive chalcopyrite mineralization within potassic-altered megacrystic syenite hydrothermal breccia. Assays pending. Image starting at 172m in BRDDH19-013; the 7th diamond drill hole at Burgundy Ridge. Note mineralization is visually high-grade and not representative of the entire hole.
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K-feldspar altered megacrystic syenite with chalcopyrite mineralization found in outcrop at “Rock Island II”; a new showing ~470 meters NE of Burgundy Ridge. Assays pending. Approximate discovery date: August 15th, 2019.
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Chalcopyrite, pyrite, and sphalerite mineralization with potassic altered syenite clasts of a hydrothermal breccia at “Green Rock”; a new showing ~175m south of drill pad “C-2” along the Burgundy Ridge Trend. Assays pending. Approximate discovery date: September 1st, 2019.
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Chalcopyrite mineralization hosted in a potassic, hematite, and carbonate altered porphyritic syenite found at outcrop on “Rock Island I”; a new showing ~700m NE of Burgundy Ridge and ~500m NW of Telena. Assays pending. Approximate discovery date August 10th, 2019.
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Chalcopyrite, chalcocite, and malachite mineralization. Image starting at 77.5m in BRDDH19-001; the 1stdiamond drill hole at Burgundy Ridge. Note mineralization is visually high-grade and not representative of the entire hole. Assays pending.
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Chalcopyrite, chalcocite, and malachite mineralization within k-feldspar altered hydrothermal breccia. Image starting at 282.4m in BRDDH19-004; the 3rd diamond drill hole at Burgundy Ridge. Note mineralization is visually high-grade and not representative of the entire hole. Assays pending.
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Chalcopyrite and pyrite mineralization starting at 197m in BRDDH19-001; the 1st diamond drill hole at Burgundy Ridge. Note mineralization is visually high-grade and not representative of the entire hole. Assays Pending.
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Disseminated chalcopyrite with chalcopyrite and magnetite/hematite mineralization in carbonate veins hosted within potassic altered bimodal syenite. Image starts at 231.4m of STDDH19-006; the 3rddiamond drill hole at 72′ Zone in 2019. This target area is apart of what is believed to be a 2.3km Cu-Au-Ag rich trend including the Burgundy Ridge – Telena – 72′ trend. Note mineralization is visually high-grade and not representative of the entire hole. Assays pending.
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Webby bornite-chalcopyrite and chalcopyrite stringers within hematite altered bimodal syenite. Image starts at 234.3m of STDDH19-006; the 3rd diamond drill hole at 72′ Zone in 2019. Note mineralization is visually high-grade and not representative of the entire hole. Assays pending.
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Disseminated chalcopyrite with chalcopyrite-carbonate veins with shreddy biotite halo hosted in a K-feldspar altered bimodal syenite. Image starts at 240.3m of STDDH19-006; the 3rd diamond drill hole at 72′ Zone in 2019. Note mineralization is visually high-grade and not representative of the entire hole. Assays pending.
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The combination of new surface mineralization discoveries, lithological orientations, and mapping along the 2.3 km trend are all further evidence for the presence of a “large” alkalic, silica-undersaturated porphyry with adjacent high-grade skarn system. This preliminary model is geologically synonymous to the world-class Galore Creek Cu-Au-Ag porphyry deposit (814.7 million tonnes of 0.50% Cu, 0.31 g/t Au, 5.21 g/t Ag – BC MINFILE #104G 090) located 30 km to the NW.
Cole Evans, President / CEO of HEG commented: “The vastness of copper with associated gold and silver mineralization of multiple styles starting at surface is really impressive. Our team has been tracking ice and snow retreat with a variety of tools. As it retreats, we are consistently being rewarded with new exposures of high-grade mineralization on surface. The first ever look at the subsurface from 2019 diamond drilling is giving us the confidence to make aggressive step outs with mineralization open along trend and at depth. Drilling continues while we eagerly await assays. The potential to have a large-scale copper-gold-silver deposit with similar lithologic, mineralization, alteration, and orientation characteristics of our world-class neighbour Galore Creek 30km to the northwest is very encouraging. An important distinction is the Burgundy Ridge Trend is roughly 1/5th the distance from road and power infrastructure making it a much more attractive system from that perspective.”
Newmont Lake Gold Corridor | High-Grade Au-Ag-Cu System
The technical team is pleased with the results of a recently completed IP survey by Walcott Geophysics and new high-grade Au discoveries at outcrop with highlights of 23.08 g/t Au, 6.49 g/t Ag, and 0.16% Cu (Sample ID B0003502) that has identified new drill targets with the potential for high-grade Au discoveries along the Mclymont Fault; a known prolific high-grade Au conduit with multiple showings over the 20km trend. Chargeable IP anomalies in the footwall of the Mclymont Fault system like those of the historic high-grade gold resource extend to the northeast and southwest of the NW Zone. This fault system has been mapped for 20km with 95% held within the Newmont Lake Property. Brand new discoveries adjacent to receding ice/snow of massive/semi-massive sulphides (pyrite and chalcopyrite) synonymous with high-grade Au in the area have also been discovered with assays pending.
Furthermore, new 3D modelling of the NW Zone high-grade Au system has outlined significant areas for expansion of the non-compliant historic inferred resource that contains 1,406 ktonnes at an average grade of 4.43 g/tAu, 0.22%Cu and 6.4 g/tAg at a projected “base case” cut-off grade of 2 g/tAu containing 200,000 oz Au, 6.79 million lbs of copper and 291,000 oz of silver (Mineral Resource Estimate on the North West Zone, Newmont Lake Property, submitted to Romios Gold Resource Inc., May 11,2007). This resource estimate was based solely on the drill hole data collected by Gulf Minerals in the late 1980’s and early 1990’s. Hy-Tech Drilling has commenced the first-ever oriented, HQ drill core holes in the NW Zone targeting new high-grade Au with the objective to significantly expand the size of the known Au zone, and acquire oriented core data to aid in the vectoring of more high-grade Au targets in the area.
Several maps containing the surface geochemical results along with the completed geophysics data will be available on the website, www.crystallakemining.com, shortly.
Maurizio Napoli P.Geo., VP Exploration of Crystal Lake commented: “We have been patient with the NW Zone to give our technical team the proper time required for thorough due diligence of this high-grade Au system developing along the 20km long Mclymont Fault Trend. Brand new high-grade gold discoveries have been made on surface with corresponding geophysical anomalies that suggests there is more high-grade Au in this area than previously understood. In addition, the non-compliant historic resource of 200,000 ounces gold completed in 2006 was limited to 1980’s drilling where the majority of core was not assayed or oriented. Our team has been able to model the deposit with the latest in 3D software and have identified probable extensions of the system. We have managed to prove this theory with brand new high-grade Au intercepts from previously unsampled drill core. When we factor in gold prices that have more than tripled since resource work was last done, and a new road and powerplant 10 miles down the valley; the potential is there for this to become one of the most important high-grade Au corridors in the district. Crystal Lake’s dominant land package is poised to capitalize on this.”
Cautionary Statement of Photo Gallery:
Please note the visualizations are selected images highlighting strong visual mineralization from a variety of new showings and recent diamond drill core. Mineral identification has been determined visually by geologists and cross-referenced via mobile X-ray Fluorescence elemental geochemical techniques (ThermoScientific Niton XL5 pXRF). Portable XRF data is not provided as it is not an indicator of representative geochemistry of the entire rock mass. The reader should also note that while relative spatial information is provided, mineralization is not necessary representative of space between any given location and it should not be assumed that lateral continuity exists. Also note that mineralization in drill core is visually high-grade and should not be considered representative of the entire drill hole. The reader is encouraged to exercise caution, complete their due diligence, and determine their own conclusions with the information provided.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., VP Exploration for Crystal Lake Mining, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
www.crystallakemining.com
For further information please contact:
MarketSmart Communications
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Email: info@marketsmart.ca
Momentum Public Relations
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
Bluestone Announces Consistent High-Grade Channel Sampling Results in Development Drift averaging 22.4 g/t Au and 122 g/t Ag over 22 meters along vein
Momentum Public Relations
Press Release: September 4th, 2019
Bluestone Resources Inc. (TSXV: BSR) (OTCQB: BBSRF) (“Bluestone” or the “Company”) is pleased to announce results from channel sampling of high-grade veins within two separate development headings in both the North and South zones of the Cerro Blanco underground workings.
Early underground development and mining activities using Bluestone’s mine equipment and personnel are being undertaken as part of an operational readiness and project de-risking initiative ahead of development. Assay results from the successive channel sampling of two different development drifts, on two individual veins, one located in the North Zone (VN_10) and the other in the South Zone (VS_10), are presented in this press release. Sampling of the veins was done at the face after each successive blast as the drift advanced. The objective of this ongoing work is to improve ore body knowledge by providing valuable information on grade continuity, vein orientation, and the applicability of mining methods.
Darren Klinck, President and CEO commented, “Sampling during the advancement of the drift along the strike of the vein has returned consistent grade and widths with good continuity. We are pleased to see vein VS_10 in the South average 22 g/t Au over the 22 meters of development completed. We continue to improve our orebody knowledge as we prepare for underground mining and construction-related activities next year.”
About Bluestone Resources
Bluestone Resources is a mineral exploration and development company that is focused on advancing its 100%-owned high-grade Cerro Blanco Gold project located in Guatemala. A Feasibility Study on Cerro Blanco returned robust economics with a quick pay back. The average annual production is projected to be 146,000 ounces per year over the first three years of production with all-in sustaining costs of $579/oz (as defined per World Gold Council guidelines, less corporate general and administration costs). The Company trades under the symbol “BSR” on the TSX Venture Exchange and “BBSRF” on the OTCQB.
Table 1. Underground Channel Sample Assays – Drift S314 (South Zone)
SAMPLE ID | HEADING | WIDTH (m) | Au g/t | Ag g/t | VEIN ID |
RCB-3527 | L4_S314_W | 1.2 | 23.8 | 192 | VS_10 |
RCB-3528 | L4_S314_W | 1.1 | 23.9 | 116 | VS_10 |
RCB-3529 | L4_S314_W | 0.9 | 20.3 | 77.2 | VS_10 |
RCB-3531 | L4_S314_W | 1.0 | 26.3 | 72.6 | VS_10 |
RCB-3160 | L4_S314_E | 0.7 | 18.4 | 85.0 | VS_10 |
RCB-3161 | L4_S314_E | 0.6 | 38.3 | 200.0 | VS_10 |
RCB-3166 | L4_S314_E | 0.7 | 21.5 | 236.0 | VS_10 |
RCB-3168 | L4_S314_E | 0.6 | 22.3 | 97.0 | VS_10 |
RCB-3188 | L4_S314_W | 1.00 | 37.6 | 157 | VS_10 |
RCB-3192 | L4_S314_E | 1.0 | 23.2 | 96.7 | VS_10 |
RCB-3193 | L4_S314_E | 1.0 | 33.1 | 142.0 | VS_10 |
RCB-3523 | L4_S314_E | 1.2 | 17.2 | 92.5 | VS_10 |
RCB-3524 | L4_S314_E | 1.0 | 10.5 | 60.3 | VS_10 |
RCB-3525 | L4_S314_E | 1.0 | 22.6 | 158 | VS_10 |
RCB-3526 | L4_S314_E | 1.0 | 21.6 | 70.4 | VS_10 |
RCB-3530 | L4_S314_E | 1.0 | 22.3 | 175 | VS_10 |
RCB-3443 | L4_S314_E | 1.2 | 21.4 | 94.2 | VS_10 |
RCB-3658 | L4_S314_E | 1.0 | 20.2 | 162 | VS_10 |
RCB-3659 | L4_S314_E | 1.0 | 18.8 | 147 | VS_10 |
RCB-3660 | L4_S314_E | 1.0 | 12.7 | 65.6 | VS_10 |
RCB-3664 | L4_S314_E | 1.0 | 14.0 | 51.9 | VS_10 |
RCB-3666 | L4_S314_E | 1.0 | 12.9 | 80.9 | VS_10 |
RCB-3675 | L4_S314_E | 1.0 | 26.2 | 132 | VS_10 |
RCB-3711 | L4_S314_E | 1.0 | 25.4 | 69.7 | VS_10 |
RCB-3712 | L4_S314_E | 1.0 | 48.5 | 214 | VS_10 |
RCB-3713 | L4_S314_E | 1.0 | 14.8 | 73.1 | VS_10 |
RCB-3714 | L4_S314_E | 1.0 | 17.0 | 83.9 | VS_10 |
RCB-3715 | L4_S314_E | 1.0 | 14.6 | 71.4 | VS_10 |
RCB-3716 | L4_S314_E | 1.0 | 19.3 | 93 | VS_10 |
RCB-3718 | L4_S314_E | 1.0 | 25.3 | 127 | VS_10 |
RCB-3719 | L4_S314_E | 1.0 | 26.3 | 74.2 | VS_10 |
Table 2. Underground Channel Sample Assays -Drift N636 (North Zone)
SAMPLE ID | HEADING | Width_(m) | Au g/t | Ag g/t | VEIN ID |
RCB-3339 | L6 N636 NE | 1.0 | 16.4 | 84.7 | VN_10 |
RCB-3554 | L6 N636 NE | 1.0 | 36.1 | 70.5 | VN_10 |
RCB-3555 | L6 N636 NE | 1.0 | 23.2 | 62.2 | VN_10 |
RCB-3556 | L6 N636 NE | 1.0 | 60.5 | 68.9 | VN_10 |
RCB-3557 | L6 N636 NE | 1.0 | 18.3 | 51.3 | VN_10 |
RCB-3698 | L6 N636 NE | 1.0 | 21.6 | 81.3 | VN_10 |
RCB-3699 | L6 N636 NE | 1.0 | 82.5 | 150 | VN_10 |
RCB-3700 | L6 N636 NE | 1.0 | 25.3 | 49 | VN_10 |
RCB-3701 | L6 N636 NE | 1.0 | 22.2 | 30.9 | VN_10 |
RCB-3702 | L6 N636 NE | 1.0 | 25.6 | 70.9 | VN_10 |
RCB-3727 | L6 N636 NE | 1.0 | 11.2 | 31.1 | VN_10 |
Plan, sections and photos can be accessed by clicking HERE.
Sampling Methodology
For each heading, several channel samples were taken perpendicular across the vein, and where possible, along the roof of the drift at spacings of approximately 1.0 meter using a portable core saw. Sampled faces are approximately 3 – 4 meters apart (depending on the advance of each blast) and vein widths varied between 0.65 – 0.85 meters (VN_10) and 0.45 – 0.75 meters (VS_10). In each case, sample widths of 1.0 meter were taken to include some hanging wall and footwall dilution around the veins and represent a minimum mining width. Veins comprise white chalcedonic quartz and minor adularia with dark grey banding due to the inclusion of silver sulphides and gold.
Development Drift S314 (South Zone)
Vein VS_10 is a new vein that was discovered by Bluestone early in its exploration program. While only contributing approximately 35,000 oz to the current reserve model, it was selected for trial mining as an example of a narrow, moderately dipping vein in the upper part of the South Zone orebody (see photos and plans). VS_10 averages 50 degrees and is hosted within gently dipping fine-grained sandstones (Mbt). The average grade of 31 vein samples taken from the faces over the 21.6-meter length of the drift was 22.4 g/t and 114 g/t Ag. Grades show remarkable consistency as seen in Table 1, with a minimum assay of 10.5 g/t Au and maximum assay of 48.5 g/t Au.
Of note in the drift are several narrow (approximately 20 cm) sub-horizontal conjugate veins in the footwall that eventually merge to VS_10 that also contain high grade gold values (see photo). Four 1.0-meter samples incorporating both vein and wall rock dilution assayed from 7.3 g/t to 73.8 g/t Au. A full table of all assay results (Table 3) is included in the attached figures.
Development Drift N636 (North Zone)
Vein VN_10 is one of the main targeted veins in the current infill drill program and is exposed in a new development drift in the lowest section of the North Ramp. The vein averages 0.65 – 0.8 meters in width and dips at 70 degrees. The average grade of 12 samples taken in 5 successive headings over the 14.9- meter length of the drift was 31.2 g/t and 68 g/t Ag, including wall rock dilution. Assays ranged from 11.2 g/t Au and 82.5 g/t Au showing consistency of high grades, similar to VS_10. Recent infill drilling (hole CB 409) intersected and extended this vein some 62 meters down dip (see press release January 9, 2019).
Precious metal mineralization at Cerro Blanco is associated with classic low sulphidation adularia-sericite epithermal quartz veins and vein swarms hosted in altered sequence of volcanoclastic and sedimentary rocks. Higher grades (>20 g/t Au and >60 g/t Ag) are associated with visible gold and silver sulphides in ginguro-style colloform-banded veins.
Quality Analysis and Quality Control
Assay results listed within this release were performed by Inspectorate Laboratories (“Inspectorate”), a division of Bureau Veritas, which are ISO 17025 accredited laboratories. Sampling was undertaken on site at Cerro Blanco by Company personnel under a QA/QC protocol developed by Bluestone under the supervision of David Cass, Qualified Person for Bluestone. Samples are transported in security-sealed bags to Inspectorate, Guatemala City, Guatemala, for sample preparation. Sample pulps are shipped to Inspectorate Laboratories in Vancouver, BC, Canada or Reno, NV, USA, and assayed using industry-standard assay techniques for gold and silver. Gold and silver were analysed by a 30-gram charge with atomic absorption and/or gravimetric finish for values exceeding 5 g/t Au and 100 g/t Ag. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material, and replicate samples. Quality control is further assured by Bluestone’s QA/QC program, which involves the insertion of blind certified reference materials (standards) and field duplicates into the sample stream to independently assess analytical precision and accuracy of each batch of samples as they are received from the laboratory. Additionally, pulps and coarse rejects are routinely submitted to ALS Chemex Laboratories in Vancouver for check analysis and additional quality control.
Qualified Person
David Cass, P.Geo., Vice President Exploration, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the technical information set out above in this news release is accurate and therefore approves this written disclosure of the technical information.
On Behalf of Bluestone Resources Inc.
“Darren Klinck”
Darren Klinck | President, Chief Executive Officer & Director
For further information, please contact:
Bluestone Resources Inc.
Stephen Williams | VP Corporate Development & Investor Relations
Phone: +1 604 646 4534
info@bluestoneresources.ca
www.bluestoneresources.ca
- Published in Bluestone Resources, Mining, News Home
Arctic Star Receives Compelling Results from Ground Geophysical Surveys at the Stein Diamond Project
Momentum Public Relations
Press Release: August 27, 2019
Arctic Star Exploration Corp. (TSXV: ADD) (FSE: 82A1) (WKN: A2DFY5) (“Arctic Star” or the “Company”) is pleased to announce it has completed the ground geophysical survey program on the Stein diamond project, Nunavut. GGL Resources Corp. has the Option to earn a 60% undivided interest in Arctic Star Exploration Corp.’s (“Arctic Star”) wholly-owned Stein diamond project by discovering in-situ kimberlite. The Stein diamond property (“Stein”) consists of 4 contiguous prospecting permits covering an area of 1,065 square kilometers on the Southern Boothia Peninsula, 45 kilometers from tide water. It is located 85 kilometers northwest of the community of Taloyoak, Nunavut which is serviced daily by commercial flights and seasonally by barge.
The Company’s detailed ground magnetic survey program has delineated a number of very compelling targets that are consistent with magnetic signatures over known kimberlites which have intruded through Cambrian-Devonian age Arctic Platform carbonate rocks at parallel latitudes elsewhere in Canada’s north. Similar geology is found on the Stein project.
A broad range of kimberlite like signatures were defined during the surveys which further bolsters the possibility of Stein delivering a new kimberlite field. Many known kimberlite fields exhibit a variety of magnetic responses which represent kimberlites intruding under varied circumstances and conditions. These signatures range from isolated magnetic highs to strong dipolar features to elongate dyke-like responses. The Stein project has delivered all three of these emplacement style signatures including a large isolated magnetic high approximately 200 meters in diameter, multiple strong, discrete dipolar signatures as well as an elongate dyke-like signature over 800 meters in length. Maps showing several examples of priority targets at Stein along with magnetic signatures from known kimberlites in comparable host rocks at parallel latitudes are available at www.gglresourcescorp.com/projects/stein.
The high priority geophysical targets are interpreted to be intrusive in nature, occurring at the surface and covered by a sequence of glacial till. Although magnetic signatures of known kimberlites are not indicative of diamond content, the potential of the Stein cluster of high interest targets is further reinforced by heavy mineral samples collected down ice which contain indicator mineral grains that are indicative of diamond inclusion chemistry showing high chrome, low calcium G10D pyrope garnets.
Stein is a permitted, advanced diamond exploration project having the benefit of numerous successive exploration campaigns and over $1.5 million in previous expenditures. Drill testing has not been conducted on the project to date. The nearest known kimberlite discovery to Stein is over 230 kilometers to the southeast and perpendicular to the regional ice flow direction. The distance and direction greatly reduce the potential of the Stein mineral grains being an overprint from this field.
GGL will continue with further modeling and target prioritization in preparation for future drilling as the Stein project has now been further de-risked and brought to the drill ready stage.
The technical data in this news release has been reviewed and approved by Buddy Doyle, a diamond geologist with over 30 years of experience, a Qualified Person under the provisions of National Instrument 43-101.
About Arctic Star
The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 95,700 Ha Exploration Reservation near the township of Kuusamo, in Finland. The project is located approximately 550km SW of the operating Grib Diamond Mine in Russia. Arctic has commenced its exploration in Finland on the Timantti Project, where four diamondiferous kimberlite bodies may represent the first discoveries in a large kimberlite field. The Company also controls diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and a rare metals project in BC (Cap).
Arctic Star has a highly experienced diamond exploration team previously responsible for several world class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Patrick Power, CEO, President
+1 (604) 218-8772
ppower@arcticstar.ca
- Published in Arctic Star Exploration, Mining, News Home
Canada Cobalt Issues Reminder Regarding Upcoming Expiration of Dividend Warrants
Momentum Public Relations
Press Release: August 26, 2019
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) today issued a reminder to Dividend Warrant Holders that received Dividend Warrants to purchase common shares of the Company, dated February 25, 2019 at an exercise price of $0.10 per share, are set to expire on Sunday, September 15, 2019. As the expiration date is not a trading day on the TSX Venture Exchange, the Dividend Warrants will be exercisable until 4:00 pm Pacific time on Monday, September 16, 2019. Warrants not exercised prior to September 16, 2019 will expire.
The Dividend Warrants were issued as part of Granada Gold Mine Inc.’s unit dividend payment to its shareholders. Details of the dividend payment are described in Granada’s news releases dated Granadanews release Feb. 5, 2019 and Granada news release Feb. 11, 2019.
In order to exercise the Dividend Warrants, Warrant Holders are requested to deliver, (i) the physical warrant certificate representing the Warrants to be exercised, (ii) duly completed exercise form (located on the back of the warrant certificate) and (iii) aggregate funds by way of certified cheque, bank draft or money order in Canadian Dollars, payable to Canada Cobalt Works Inc. and delivered to the Company’s transfer agent, Computershare Trust Company of Canada, 3rd Floor, 510 Burrard Street, Vancouver, BC, V6C 3B9, Attention: Yasmin Ali. Computershare acts as Warrant Agent for the Dividend Warrants on behalf of the Company. If the Warrant Holder is a US resident, additional documents are required to be submitted. Please contact the Company’s Corporate Secretary, Tina Whyte at tina.whyte1@gmail.com in order to request the additional documentation that is required to exercise the Dividend Warrants.
About Canada Cobalt Works Inc.
Canada Cobalt is focused on immediate and longer-term value drivers at its past producing Castle mine and adjoining land package in the historic Northern Ontario Silver-Cobalt district, Canada’s cobalt heartland since the start of the electric vehicle revolution. The Canada Cobalt “advantage” includes underground access at Castle, an innovative tailings program with a plan to recover silver, gold and cobalt, a recently installed pilot plant to produce gravity concentrates on site, a proprietary hydrometallurgical process known as Re-2OX, and exciting exploration discovery potential at Castle East.
- Published in Canada Cobalt Works, Mining, News Home
Canada Cobalt Arranges $500,000 Private Placement
Momentum Public Relations
Press Release: August 23, 2019
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that the Company has arranged a non-brokered hard dollar private placement with strategic investors to raise gross proceeds of $500,000 at 30 cents per unit.
Proceeds of the financing, expected to close shortly, will go toward the start of a Phase 2 underground drill program commencing in September, surface site preparation/development for other initiatives, regional exploration, Re-2OX and general working capital purposes.
Each unit of the private placement (1,666,667 units) comprises one share and one share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.50 per share for a period of two years from closing, subject to TSX Venture Exchange approval. Finders’ fees may be paid in connection with the private placement, subject to Exchange policies and approval.
All securities issued in connection with the private placement are subject to a four-month and a day hold period in accordance with applicable securities laws.
About Canada Cobalt Works Inc.
Canada Cobalt has 100% ownership of the Castle mine and the 78 sq. km Castle Property with strong exploration upside in the prolific past producing Gowganda high-grade Silver Camp of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold market cycle.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service 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 news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/August2019/23/c6798.html
Contact:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
- Published in Canada Cobalt Works, Mining, News Home
Bluestone Drilling Delivers 13.7 meters grading 11.2 g/t Au & 78 g/t Ag (13.1 meters true width)
Momentum Public Relations
Press Releases: August 21, 2019
Bluestone Resources Inc. (TSXV: BSR) (OTCQB: BBSRF) (“Bluestone” or the “Company”) is pleased to announce additional high-grade drill assays from its ongoing infill resource conversion program at its Cerro Blanco Gold project.
The focus of the current drill program is the conversion of Inferred Resources within key veins in the upper part of the Cerro Blanco ore body and vein extensions outside of the current resource. The Cerro Blanco Feasibility Study (see press release January 29, 2019) highlighted 357,000 ounces of Inferred Resources (1.4 Mt grading 8.1 g/t Au) that could be potentially converted to Measured and Indicated Resources through infill drilling.
Darren Klinck, President and CEO commented, “We are pleased with the continued success of the infill drill program in the North Zone of the deposit which has been a focus for us the last six months. We expect to put out an updated resource later this year reflecting the additional information generated from the drilling in the North Zone. As well, with the positive impact this program will ultimately have on adding value to the Cerro Blanco project, we are continuing to drill, shifting our focus to the South Zone for the next several months.”
Highlights from initial results in the South Zone, include hole UGCB19-147 which was drilled at minus 15 degrees to the north in the South Zone underground workings and intercepted a total of seven sub-parallel sheeted veins, including Vein VS_06 which assayed 11.2 g/t Au and 78 g/t Ag over 13.7 meters.
Table 1. Significant Intercepts – North and South Zones (this Press Release)
HOLE ID | FROM (m) | TO (m) | CORE INTERVAL (m) | TRUE WIDTH (m) | Au g/t | Ag g/t | Vein ID | ||
UGCB19-147 | 11.0 | 11.8 | 0.9 | 0.9 | 19.5 | 41 | VS_15 | ||
18.5 | 20.6 | 2.1 | 2.0 | 16.3 | 42 | VS_14 | |||
37.0 | 37.9 | 1.0 | 1.0 | 7.5 | 8 | VS_10 | |||
47.3 | 50.0 | 2.7 | 2.5 | 11.8 | 40 | VS_08 | |||
57.0 | 57.9 | 0.9 | 0.9 | 21.5 | 44 | VS_07 | |||
62.8 | 76.5 | 13.7 | 13.1 | 11.2 | 78 | VS_06 | |||
Inc | 62.8 | 68.7 | 6.0 | 5.8 | 21.2 | 138 | |||
81.3 | 92.1 | 10.7 | 10.3 | 4.0 | 23 | VS_05 | |||
UGCB19-148 | 8.6 | 9.6 | 1.0 | 1.0 | 19.7 | 17 | VN_28 New | ||
38.4 | 46.9 | 8.5 | 8.5 | 8.6 | 46 | VN_02, 03, 05 | |||
61.4 | 61.9 | 0.5 | 0.5 | 5.1 | 61 | VN_06 | |||
77.7 | 78.7 | 1.0 | 1.0 | 4.8 | 37 | VN_09 | |||
UGCB19-149 | 143.2 | 144.7 | 1.5 | 1.5 | 6.6 | 28 | – | ||
UGCB19-150 | 9.8 | 10.8 | 1.0 | 1.0 | 11.8 | 13 | – | ||
19.7 | 20.7 | 1.0 | 1.0 | 40.6 | 34 | VN_27_New | |||
35.9 | 37.2 | 1.3 | 1.2 | 6.7 | 7 | VN_28 New | |||
88.8 | 93.2 | 4.4 | 4.1 | 21.7 | 43 | VN_02, 03, 05 | |||
UGCB19-151 | 13.3 | 14.3 | 1.0 | 1.0 | 3.9 | 8 | VN_18 | ||
100.5 | 101.3 | 0.7 | 0.7 | 9.1 | 34 | VN_02 | |||
UGCB19-152 | 11.5 | 12.5 | 1.0 | 1.0 | 6.3 | 7 | – | ||
24.1 | 25.1 | 1.0 | 0.9 | 25.6 | 47 | VN_27_New | |||
39.6 | 41.9 | 2.3 | 2.1 | 49.2 | 42 | VN_28 New | |||
102.3 | 103.9 | 1.6 | 1.4 | 35.7 | 40 | VN_03, 05 | |||
CB19-411 | 131.0 | 132.0 | 1.0 | 1.0 | 10.0 | 22 | VN_30 New | ||
142.8 | 143.9 | 1.1 | 1.1 | 6.7 | 9 | – | |||
148.7 | 152.4 | 3.6 | 3.2 | 7.4 | 9 | VN_16 | |||
157.7 | 160.8 | 3.1 | 2.9 | 4.6 | 7 | VN_15 | |||
170.3 | 172.5 | 2.2 | 2.0 | 6.5 | 5 | VN_14 | |||
215.9 | 225.4 | 9.5 | 9.1 | 7.2 | 16 | VN_11 | |||
228.3 | 232.4 | 4.1 | 4.0 | 13.0 | 9 | VN_10 | |||
240.4 | 241.4 | 1.0 | 1.0 | 6.2 | 4 | VN_09 |
Notes: Intervals in bold are cited in the text of the press release. Only intercepts averaging over 3 g/t Au when diluted to a minimum 3 meters true width are stated. Hole coordinates and azimuth/dip information accompany the plan view attached to this release.
Holes UGCB19-145 and UGCB19-146 were drilled steeply upwards and designed to test for extensions of veins VN_01, 02, and 05 within the upper Salinas conglomerates/sinter zone. No significant intercepts were drilled, only narrow, low-grade veins, in line with the current model that the veins diminish within this upper silicified unit.
Holes UGCB19-148 to UGCB19-152 are a series of holes drilled at horizontal to positive angles (upwards) from 4 individual platforms in the North Zone underground workings and intercepted targeted veins including 4.4 meters at 21.7 g/t Au and 2.3 meters at 49.2 g/t Au in UGCB19-150 and UGCB19-152, respectively.
Hole CB19-411 drilled from surface successfully intercepted all targeted veins including 9.5 meters (9.1 meters true width) grading 7.2 g/t Au and 16 g/t Ag (Vein VN_11). Of note, Vein VN_10, which assayed 4 meters grading 13 g/t Au, was extended approximately 75 meters down-dip of its exposure in the North Zone underground workings.
A plan showing drill hole locations can be accessed by clicking HERE.
Precious metal mineralization at Cerro Blanco is associated with classic low sulphidation adularia-sericite epithermal quartz veins and vein swarms hosted in altered sequence of volcanoclastic and sedimentary rocks. Higher grades (>20 g/t Au and >60 g/t Ag) are associated with visible gold and silver sulphides in ginguro-style colloform-banded veins.
Quality Analysis and Quality Control
Assay results listed within this release were performed by Inspectorate Laboratories (“Inspectorate”), a division of Bureau Veritas, which are ISO 17025 accredited laboratories. Logging and sampling are undertaken on site at Cerro Blanco by Company personnel under a QA/QC protocol developed by Bluestone. Samples are transported in security-sealed bags to Inspectorate, Guatemala City, Guatemala, for sample preparation. Sample pulps are shipped to Inspectorate Laboratories in Vancouver, BC, Canada or Reno, NV, USA, and assayed using industry-standard assay techniques for gold and silver. Gold and silver were analyzed by a 30-gram charge with atomic absorption and/or gravimetric finish for values exceeding 5 g/t Au and 100 g/t Ag. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material, and replicate samples. Quality control is further assured by Bluestone’s QA/QC program, which involves the insertion of blind certified reference materials (standards) and field duplicates into the sample stream to independently assess analytical precision and accuracy of each batch of samples as they are received from the laboratory. A selection of samples is submitted to ALS Chemex Laboratories in Vancouver for check analysis and additional quality control.
Qualified Person
David Cass, P.Geo., Vice President Exploration, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the technical information set out above in this news release is accurate and therefore approves this written disclosure of the technical information.
About Bluestone Resources
Bluestone Resources is a mineral exploration and development company that is focused on advancing its 100%-owned Cerro Blanco Gold and Mita Geothermal projects located in Guatemala. A Feasibility Study on Cerro Blanco returned robust economics with a quick pay back. The average annual production is projected to be 146,000 ounces per year over the first three years of production with all-in sustaining costs of $579/oz (as defined per World Gold Council guidelines, less corporate general and administration costs). The Company trades under the symbol “BSR” on the TSX Venture Exchange and “BBSRF” on the OTCQB.
On Behalf of Bluestone Resources Inc.
“Darren Klinck”
Darren Klinck | President, Chief Executive Officer & Director
For further information, please contact:
Bluestone Resources Inc.
Stephen Williams | VP Corporate Development & Investor Relations
Phone: +1 604 646 4534
info@bluestoneresources.ca
www.bluestoneresources.ca
- Published in Bluestone Resources, Mining, News Home
Nelligan Project Among the Finalists for the “Discovery of the Year” Award at the XPLOR 2019 Convention
Momentum Public Relations
Press Release: August 20, 2019
Vanstar Mining Resources Inc. («Vanstar») is very pleased to announce that the Nelligan project, an Earn-In Agreement between IAMGOLD Corporation (“IAMGOLD”) : 51% and Vanstar : 49%, is among the three finalists for the AEMQ “Discovery of the year” award. The name of the award winner will be announced on Wednesday, October 23, during the Awards Gala that will take place in the Queen Elizabeth Hotel, in Montreal.
Furthermore, on October 23, during the XPLOR 2019 convention, a conference called “Nelligan Project :a wide gold-bearing system hosted in a detritical sedimentary sequence – An important discovery for the Chapais-Chibougamau mining district” will be given by IAMGOLD. In addition, IAMGOLD will hold a booth presenting technical information related to the Nelligan project and some samples of rock from the different gold zones identified by the exploration work.
Our partner will also have a space at the Core Shack section to expose different sections of drill holes to show the entire stratigraphy and alterations typical of the Renard zone.
Mr. Guy Morissette, President, states: ” We are honored that the Nelligan Project is among the finalists for the Discovery of the Year Award. This is a project that we believe deserves to be recognized as a major Canadian gold project.”
The Nelligan project, located in the Chapais-Chibougameau region, comprises 158 cells with an area of 8,216 hectares. The main known indexes on this project are Renard, Liam, Dan and 36 occupy an area of just 4% (6 mining cells) of the entire property. The Liam and Dan gold zones, discovered by Vanstar during the 2013 and 2014 drilling campaigns, were followed by the discovery of the Renard by our partner IAMGOLD in 2016.
IAMGOLD is expected to provide an initial resource estimate for the NI 43-101 compliant Renard Zone in the second half of 2019.
AMENDMENT TO THE STOCK OPTION PLAN
The management of Vanstar Mining Resources Inc. also wishes to report that pursuant to the disinterested shareholders’ approval at the annual shareholders meeting, the TSX Venture Exchange approved the amended Stock Option Plan, which resulted in the increase of the maximum number of issuable options from 7,600,000 to 9,552,665.
- Published in Mining, News Home, Vanstar Mining