(via TheNewswire)
Delineation of multiple regional undrilled gold anomalies;
Major gold trends remain open at margin of soils grid, and expansion to soil sampling coverage to the northwest and southeast is planned to commence shortly;
Clear zonation of key elements in soil geochemistry (Au, Ag, As, Bi, Cu, Mo, Pb, Sb, Te, W, Zn, HREE), demonstrating distinct temperature gradients of a regional hydrothermal system;
Extremely low concentrations of sulfur (average of 0.018% or 180 ppm in 530 soils), suggesting Iron Oxide Gold (“IOG”) model;
Detailed (1:5,000 scale) geological and structural mapping completed throughout the area of soil sampling coverage, with synthesis and interpretation ongoing.
2023 Program
Two phases of sampling were completed in Q2 2023, including 530 soils on northeast-southwest trending lines, and 110 rocks from a regional prospecting initiative. The goal was to evaluate a defined area of highly prospective ground which hosts >125 sites of small-scale historical mining (identified from a
2023 Results
Multiple high-tenor undrilled gold anomalies over several kilometres of trend were returned from the Q2 2023 sampling campaign (Figure 1A). Viewing the 2023 data in conjunction with historical geochemical data demonstrates that several of these anomalies remain open and unexplored along trend (Figure 1B).
A total of 110 rock samples were collected within a 2.7 x 1.4 kilometre area, with 28 samples returning assays of ≥1 g/t Au, 11 returning assays of >5 g/t Au, and 6 returned assays of >10 g/t Au. In addition, in-situ and subcrop-hosted visible gold was discovered and sampled at 7 separate undrilled sites.
Distinct zonations of key elements were present in the 2023 data, suggesting a kilometre-scale temperature gradient likely associated with hydrothermal circulation, potentially driven by a buried intrusive body at depth (Figures 2 and 3). In addition, the geochemical data exhibited extremely low concentrations of sulfur (average of 0.018% or 180 ppm in 530 soils), further suggesting the affinity to an Iron Oxide Gold (“IOG”) system.
An expansion to soil and rock sampling coverage is under preparation, and 1:5,000 scale geological and structural mapping has been completed over the full grid area, with synthesis and interpretation ongoing.
Click Image To View Full Size
Figures 1A and 1B: Gold assay results for 2023 soils and rocks (1A) and all soils and rocks (1B).
Click Image To View Full Size
Figure 2: Gold assay results for 2023 soils and rocks, with zonations of key elements, gold anomalism, and suggested temperature gradient of the mineralizing system.
Click Image To View Full Size
Figure 3: Gold assay results for 2023 soils and rocks, with additional zonations of key elements, gold anomalism, and suggested temperature gradient of the mineralizing system.
ABOUT GOLD BASIN RESOURCES CORPORATION
Gold Basin is a member of
QUALIFIED PERSON
On Behalf of the Board of Directors
Chief Executive Officer
For further information, please contact:
VP, Corporate Development
Phone: 1-604-331-5093
Neither
FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price forcommodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the TSX Venture Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest Management's Discussion and Analysis and filed with certain securities commissions in
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
Copyright (c) 2023 TheNewswire - All rights reserved.
Copyright (c) 2023 TheNewswire - All rights reserved., source