GOLD MOUNTAIN
The Gold Mountain Property is located just north of
- Polymetallic mineralization over 600 to 700 m strike; and
- High grades of silver/gold with 4 samples returning from 1,000 to 6,670 g/t Ag (Table 1).
The Ag-Au-Pb-Zn-Cu-Sb mineralized system described in a prior news release (
Given the results obtained during the 2020 exploration program and confirmation of historic exploration, the Company looks forward to conducting an aggressive program of both regional exploration and detailed follow up as soon as conditions permit in the second quarter of 2021.
Table 1: Summary of major mineralized samples from the Gold Mountain Property collected in 2020. Note that grab samples are selective by nature and values reported are not representative of mineralized zones.
Sample ID | Source | Au (g/t) | Cu (%) | Pb (%) | Zn (%) | Sb (ppm) | Ag (g/t) | Ag (oz/t) |
148512 | Outcrop | 3.18 | 0.7 | 17.6 | 0 | 1430 | 1000 | 32.2 |
148538 | Float | 0.74 | 0.01 | 40.4 | 0 | 2390 | 2450 | 78.8 |
148543 | Float | 7.44 | 5.72 | 31.6 | 0.2 | 8220 | 6670 | 214.4 |
148544 | Outcrop | 0.06 | 0.03 | 0.1 | 0.3 | 152 | 36.2 | 1.2 |
148575 | Float | 2.52 | 0.7 | 0.27 | 1.55 | 1260 | 237 | 7.6 |
148576 | Outcrop | 0.93 | 0.14 | 46.1 | 2.87 | 1900 | 93.1 | 3.0 |
148577 | Float | 0.18 | 0.13 | 0.26 | 13.1 | 247 | 64.0 | 2.0 |
148578 | Float | 0.16 | 0.06 | 0.40 | 4.57 | 154 | 113 | 3.6 |
148580 | Outcrop | 2.14 | 0.44 | 48.9 | 10.2 | 1340 | 1840 | 58.9 |
148582 | Outcrop | 0.63 | 0.01 | 32.4 | 0 | 937 | 93.4 | 3.0 |
148587 | Outcrop | 0.25 | 0.06 | 0.04 | 2.39 | 172 | 35.4 | 1.1 |
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c9c0a387-85c7-46f9-9c58-77bde0f63f97
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/577b6110-7f98-42bc-bc0a-eced08b0c6a0
PUNCH BOWL
A site visit of the Punch Bowl claims was completed in late September, during which fifty-three (53) samples were collected (Figure 3). Of the fifty-three (53) samples from the Punch Bowl claims, thirty-nine (39) returned anomalous Au values, of which fourteen (14) samples returned assays greater than 0.1 g/t with the highest assay returning at 3.41 g/t Au (Table 2). The presence of anomalous gold identified in ~74% of the collected samples with an average of 0.37 g/t Au from the visit confirms that follow up work is warranted during summer months, to better understand the potential for this property.
Samples were collected from multiple parallel northwest-southeast oriented linear trends, approximately 700 meters long and open in each direction. The gold appears hosted within recessive weathering, pyrite-bearing phyllite crosscut by quartz veins. Future prospecting will attempt to locate similar recessive weathering veins outside the know occurrences.
Table 2: Summary of major mineralized samples from Punch Bowl claims collected in 2020. Note that grab samples are selective by nature and values reported are not representative of mineralized zones.
Sample ID | Au (g/t) |
148529 | 0.27 |
148607 | 0.35 |
148614 | 0.33 |
148636 | 0.36 |
148638 | 0.18 |
148639 | 1.18 |
148640 | 0.5 |
148647 | 1.22 |
148648 | 0.54 |
148649 | 0.26 |
148677 | 0.69 |
148680 | 1.95 |
148681 | 3.41 |
148682 | 2.32 |
Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/90a3f130-232e-4d61-8c65-cc028baef000
QA/QC Analytical Procedures
All rock samples collected (grab and float) and quartz blanks were shipped by ground to
Certified reference materials were supplied by
Management cautions that surface rock sample assays, as presented herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.
NI 43-101 Disclosure
The technical information in this news release was prepared and/or reviewed by
About
On Behalf of the Board of Directors
President and Director
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1-604-369-8973
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Neither the
Forward Looking Statements
Statements included in this announcement, including statements concerning the Company’s plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
Figure 1: Gold Mountain Property sample locations
Figure 1: Gold Mountain Property sample locations
Figure 2: Historic Trench and site of Sample 148580
Figure 2: Historic Trench and site of Sample 148580
Figure 3: Punch Bowl claims sample locations
Figure 3: Punch Bowl claims sample locations
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