|
Result continue to return better than expected grades within the central zone of the Kobada main shear and reinforces the predictiveness of our geological model. High-grade intersections over a greater thickness, together with additional resources in the satellite orebodies, is expected to complement the resource model favorably.
Highlights Include (Table 1):
- Drill hole KP19_P1_20 returned 26.50 g/t Au over 1.0 m
- Drill hole KP19_P1_21 returned 1.67 g/t Au over 21.60 m, including 11.9 g/t Au over 2.0 m and 7.14 g/t Au over 1.1 m
- Drill hole KP19_P1_21 returned 4.93 g/t Au over 1.3 m, 2.94 g/t Au over 1.6 m and 2.78 g/t Au over 1.0 m
- Drill hole KP19_P1_23 returned 1.93 g/t Au over 3.45 m and 2.59 g/t Au over 1.0 m
- Drill hole KP19_P1_23 returned 5.41 g/t Au over 0.91 m
- Drill hole KP19_P1_27 returned 4.18 g/t Au over 1.5 m
- Drill hole KP19_P1_28 returned 6.07 g/t Au over 1.0 m and 4.13 g/t Au over 1.0 m
- Drill hole KP19_P1_31 returned 2.67 g/t Au over 5.61 m, including 5.25 g/t Au over 2.61 m
- Drill hole KP19_P1_31 returned 4.79 g/t Au over 2.0 m, 1.34 g/t Au over 4.63 m and 3.76 g/t Au over 1.0 m
- Drill hole KP19_P1_32 returned 1.13 g/t Au over 5.5 m, including 5.12 g/t Au over 1.1 m
“These are fantastic results which will have a positive effect on the total resource tonnage and grade,” states Dr.
Table 1: Mineralization Zones
Includes | |||||||||
BHID | From | To | Composite Length (m) | Composite Grade (g/t) | From | To | Includes (m) | Includes (g/t) | |
KB19_P1_20 | Main Shear South | 156.00 | 191.90 | 35.90 | 0.87 | 189.00 | 190.00 | 1.00 | 26.50 |
KB19_P1_21 | Main Shear South | 14.00 | 35.60 | 21.60 | 1.67 | 18.00 | 20.00 | 2.00 | 11.90 |
KB19_P1_21 | Main Shear South | 22.10 | 23.20 | 1.10 | 7.14 | ||||
KB19_P1_21 | Main Shear South | 58.60 | 129.30 | 70.70 | 0.46 | 86.90 | 88.50 | 1.60 | 2.94 |
KB19_P1_21 | Main Shear South | 88.50 | 89.50 | 1.00 | 2.78 | ||||
KB19_P1_21 | Main Shear South | 97.50 | 98.80 | 1.30 | 4.93 | ||||
KB19_P1_21 | Main Shear South | 104.30 | 105.50 | 1.20 | 1.75 | ||||
KB19_P1_21 | Main Shear South | 108.50 | 109.50 | 1.00 | 1.57 | ||||
KB19_P1_21 | Main Shear South | 112.40 | 113.40 | 1.00 | 1.20 | ||||
KB19_P1_21 | Main Shear South | 123.00 | 124.50 | 1.50 | 1.11 | ||||
KB19_P1_28 | Main Shear South | 193.70 | 194.70 | 1.00 | 4.13 | ||||
KB19_P1_28 | Main Shear South | 218.64 | 219.64 | 1.00 | 6.07 | ||||
KB19_P1_23 | Main Shear South | 42.00 | 50.00 | 8.00 | 1.01 | 46.55 | 50.00 | 3.45 | 1.93 |
KB19_P1_23 | Main Shear South | 73.00 | 160.30 | 87.30 | 0.43 | 76.00 | 77.00 | 1.00 | 2.59 |
KB19_P1_23 | Main Shear South | 141.05 | 141.96 | 0.91 | 5.41 | ||||
KB19_P1_27 | Main Shear South | 27.00 | 45.00 | 18.00 | 0.69 | 33.50 | 35.00 | 1.50 | 4.18 |
KB19_P1_29 | Main Shear South | 40.79 | 42.00 | 1.21 | 0.42 | ||||
KB19_P1_32 | Main Shear South | 50.00 | 55.50 | 5.50 | 1.13 | 54.40 | 55.50 | 1.10 | 5.12 |
KB19_P1_24 | Main Shear South | 0.00 | 7.00 | 4.00 | 0.28 | 6.00 | 7.00 | 1.00 | 0.56 |
KB19_P1_31 | Main Shear South | 123.79 | 129.40 | 5.61 | 2.67 | 126.79 | 129.40 | 2.61 | 5.25 |
KB19_P1_31 | Main Shear South | 134.00 | 164.79 | 30.79 | 0.86 | 139.00 | 141.00 | 2.00 | 4.79 |
KB19_P1_31 | Main Shear South | 142.50 | 143.60 | 1.10 | 1.34 | ||||
KB19_P1_31 | Main Shear South | 153.47 | 158.10 | 4.63 | 1.34 | ||||
KB19_P1_31 | Main Shear South | 291.72 | 292.72 | 1.00 | 3.76 |
Figure 1: Drill hole locations in the southern part of the
Figure 2: Kobada exploration targets is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/32e1e2be-1b44-4807-b618-31315a4f3175
Corporate Update
The Company announces that it has accepted the resignation of Sir
Qualified Persons
The scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr.
About
For further information please contact:
President and Chief Executive Officer
(416) 861 2267
Forward-Looking Statements
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, management’s, the Company’s development and exploration plans for the Kobada project, expectation of grade and resources at the Kobada gold project, the rate of drilling during the Phase 1 and 2 drilling program at the Kobada gold project, expectation of drill results at the Kobada project, the timeline for the completion of the Phase 1 and Phase 2 drilling program, the definitive feasibility study and the updated resource model, expectations for mineralization and location of extensions at the Kobada gold project and expected mining methods at the Kobada gold project, and other statements with respect to the future plans or intentions of the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", “aims”, "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of exploration activities; regulatory risks; risks inherent in foreign operations; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
Table 2: Assay results from the southern main mineralized zone (reported length measured along the holes):
Significant Intersections (Above 1 g/t)
BHID | From | To | Intersection Length (m) | Au_Final (g/t) |
KB19_P1_20 | 62.25 | 63.50 | 1.25 | 1.14 |
KB19_P1_20 | 77.00 | 78.00 | 1.00 | 1.18 |
KB19_P1_20 | 120.00 | 121.00 | 1.00 | 4.08 |
KB19_P1_20 | 123.91 | 125.10 | 1.19 | 1.30 |
KB19_P1_20 | 189.00 | 190.00 | 1.00 | 26.50 |
KB19_P1_20 | 206.00 | 207.00 | 1.00 | 1.44 |
KB19_P1_21 | 18.00 | 20.00 | 2.00 | 11.90 |
KB19_P1_21 | 22.10 | 23.20 | 1.10 | 7.14 |
KB19_P1_21 | 86.90 | 88.50 | 1.60 | 2.94 |
KB19_P1_21 | 88.50 | 89.50 | 1.00 | 2.78 |
KB19_P1_21 | 97.50 | 98.80 | 1.30 | 4.93 |
KB19_P1_21 | 104.30 | 105.50 | 1.20 | 1.75 |
KB19_P1_21 | 108.50 | 109.50 | 1.00 | 1.57 |
KB19_P1_21 | 112.40 | 113.40 | 1.00 | 1.20 |
KB19_P1_21 | 123.00 | 124.50 | 1.50 | 1.11 |
KB19_P1_28 | 123.00 | 125.50 | 2.50 | 1.32 |
KB19_P1_28 | 146.63 | 147.63 | 1.00 | 1.95 |
KB19_P1_28 | 183.10 | 184.10 | 1.00 | 2.80 |
KB19_P1_28 | 189.70 | 190.70 | 1.00 | 1.25 |
KB19_P1_28 | 193.70 | 194.70 | 1.00 | 4.13 |
KB19_P1_28 | 229.67 | 230.67 | 1.00 | 1.64 |
KB19_P1_23 | 46.55 | 50.00 | 3.45 | 1.93 |
KB19_P1_23 | 76.00 | 77.00 | 1.00 | 2.59 |
KB19_P1_23 | 81.05 | 82.75 | 1.70 | 1.57 |
KB19_P1_23 | 83.33 | 84.45 | 1.12 | 1.40 |
KB19_P1_23 | 85.45 | 86.45 | 1.00 | 1.75 |
KB19_P1_23 | 101.13 | 102.19 | 1.06 | 1.33 |
KB19_P1_23 | 105.00 | 107.00 | 2.00 | 1.35 |
KB19_P1_23 | 132.00 | 133.00 | 1.00 | 1.71 |
KB19_P1_23 | 138.65 | 139.52 | 0.87 | 1.08 |
KB19_P1_23 | 141.05 | 141.96 | 0.91 | 5.41 |
KB19_P1_23 | 149.95 | 151.00 | 1.05 | 1.44 |
KB19_P1_27 | 33.50 | 35.00 | 1.50 | 4.18 |
KB19_P1_27 | 39.00 | 40.00 | 1.00 | 1.84 |
KB19_P1_27 | 44.00 | 45.00 | 1.00 | 1.37 |
KB19_P1_32 | 54.40 | 55.50 | 1.10 | 5.12 |
KB19_P1_31 | 126.79 | 129.40 | 2.61 | 5.25 |
KB19_P1_31 | 139.00 | 141.00 | 2.00 | 4.79 |
KB19_P1_31 | 142.50 | 143.60 | 1.10 | 1.34 |
KB19_P1_31 | 153.47 | 158.10 | 4.63 | 1.34 |
KB19_P1_31 | 291.72 | 292.72 | 1.00 | 3.76 |
Mineralization Zones
Includes | |||||||||
BHID | From | To | Composite Length (m) | Composite Grade (g/t) | From | To | Includes (m) | Includes (g/t) | |
KB19_P1_20 | Main Shear South | 56.00 | 78.00 | 22.00 | 0.30 | 62.25 | 63.50 | 1.25 | 1.14 |
KB19_P1_20 | Main Shear South | 77.00 | 78.00 | 1.00 | 1.18 | ||||
KB19_P1_20 | Main Shear South | 114.00 | 135.00 | 21.00 | 0.47 | 120.00 | 121.00 | 1.00 | 4.08 |
KB19_P1_20 | Main Shear South | 123.91 | 125.10 | 1.19 | 1.30 | ||||
KB19_P1_20 | Main Shear South | 156.00 | 191.90 | 35.90 | 0.87 | 189.00 | 190.00 | 1.00 | 26.50 |
KB19_P1_20 | Main Shear South | 200.00 | 209.00 | 9.00 | 0.41 | 206.00 | 207.00 | 1.00 | 1.44 |
KB19_P1_22 | Main Shear South | 4.00 | 14.00 | 10.00 | 0.09 | ||||
KB19_P1_21 | Main Shear South | 14.00 | 35.60 | 21.60 | 1.67 | 18.00 | 20.00 | 2.00 | 11.90 |
KB19_P1_21 | Main Shear South | 22.10 | 23.20 | 1.10 | 7.14 | ||||
KB19_P1_21 | Main Shear South | 58.60 | 129.30 | 70.70 | 0.46 | 86.90 | 88.50 | 1.60 | 2.94 |
KB19_P1_21 | Main Shear South | 88.50 | 89.50 | 1.00 | 2.78 | ||||
KB19_P1_21 | Main Shear South | 97.50 | 98.80 | 1.30 | 4.93 | ||||
KB19_P1_21 | Main Shear South | 104.30 | 105.50 | 1.20 | 1.75 | ||||
KB19_P1_21 | Main Shear South | 108.50 | 109.50 | 1.00 | 1.57 | ||||
KB19_P1_21 | Main Shear South | 112.40 | 113.40 | 1.00 | 1.20 | ||||
KB19_P1_21 | Main Shear South | 123.00 | 124.50 | 1.50 | 1.11 | ||||
KB19_P1_21 | Main Shear South | 155.00 | 157.00 | 2.00 | 0.11 | ||||
KB19_P1_28 | Main Shear South | 110.00 | 111.00 | 1.00 | 0.64 | ||||
KB19_P1_28 | Main Shear South | 117.00 | 161.10 | 44.10 | 0.40 | 123.00 | 125.50 | 2.50 | 1.32 |
KB19_P1_28 | Main Shear South | 146.63 | 147.63 | 1.00 | 1.95 | ||||
KB19_P1_28 | Main Shear South | 177.10 | 194.70 | 17.60 | 0.56 | 183.10 | 184.10 | 1.00 | 2.80 |
KB19_P1_28 | Main Shear South | 189.70 | 190.70 | 1.00 | 1.25 | ||||
KB19_P1_28 | Main Shear South | 193.70 | 194.70 | 1.00 | 4.13 | ||||
KB19_P1_28 | Main Shear South | 218.64 | 219.64 | 1.00 | 6.07 | ||||
KB19_P1_28 | Main Shear South | 228.67 | 230.67 | 2.00 | 0.92 | 229.67 | 230.67 | 1.00 | 1.64 |
KB19_P1_28 | Main Shear South | 246.67 | 258.18 | 11.51 | 0.19 | ||||
KB19_P1_23 | Main Shear South | 28.20 | 31.80 | 3.60 | 0.38 | ||||
KB19_P1_23 | Main Shear South | 42.00 | 50.00 | 8.00 | 1.01 | 46.55 | 50.00 | 3.45 | 1.93 |
KB19_P1_23 | Main Shear South | 62.75 | 64.34 | 1.59 | 0.57 | ||||
KB19_P1_23 | Main Shear South | 73.00 | 160.30 | 87.30 | 0.43 | 76.00 | 77.00 | 1.00 | 2.59 |
KB19_P1_23 | Main Shear South | 81.05 | 82.75 | 1.70 | 1.57 | ||||
KB19_P1_23 | Main Shear South | 83.33 | 84.45 | 1.12 | 1.40 | ||||
KB19_P1_23 | Main Shear South | 85.45 | 86.45 | 1.00 | 1.75 | ||||
KB19_P1_23 | Main Shear South | 101.13 | 102.19 | 1.06 | 1.33 | ||||
KB19_P1_23 | Main Shear South | 105.00 | 107.00 | 2.00 | 1.35 | ||||
KB19_P1_23 | Main Shear South | 132.00 | 133.00 | 1.00 | 1.71 | ||||
KB19_P1_23 | Main Shear South | 138.65 | 139.52 | 0.87 | 1.08 | ||||
KB19_P1_23 | Main Shear South | 141.05 | 141.96 | 0.91 | 5.41 | ||||
KB19_P1_23 | Main Shear South | 149.95 | 151.00 | 1.05 | 1.44 | ||||
KB19_P1_27 | Main Shear South | 27.00 | 45.00 | 18.00 | 0.69 | 33.50 | 35.00 | 1.50 | 4.18 |
KB19_P1_27 | Main Shear South | 39.00 | 40.00 | 1.00 | 1.84 | ||||
KB19_P1_27 | Main Shear South | 44.00 | 45.00 | 1.00 | 1.37 | ||||
KB19_P1_27 | Main Shear South | 56.00 | 62.40 | 6.40 | 0.32 | ||||
KB19_P1_29 | Main Shear South | 40.79 | 42.00 | 1.21 | 0.42 | ||||
KB19_P1_32 | Main Shear South | 26.00 | 36.80 | 10.80 | 0.13 | 33.00 | 33.80 | 0.80 | 0.39 |
KB19_P1_32 | Main Shear South | 50.00 | 55.50 | 5.50 | 1.13 | 54.40 | 55.50 | 1.10 | 5.12 |
KB19_P1_24 | Main Shear South | 0.00 | 7.00 | 4.00 | 0.28 | 6.00 | 7.00 | 1.00 | 0.56 |
KB19_P1_31 | Main Shear South | 0.00 | 1.10 | 1.10 | 0.41 | 0.60 | 1.10 | 0.50 | 0.74 |
KB19_P1_31 | Main Shear South | 123.79 | 129.40 | 5.61 | 2.67 | 126.79 | 129.40 | 2.61 | 5.25 |
KB19_P1_31 | Main Shear South | 134.00 | 164.79 | 30.79 | 0.86 | 139.00 | 141.00 | 2.00 | 4.79 |
KB19_P1_31 | Main Shear South | 142.50 | 143.60 | 1.10 | 1.34 | ||||
KB19_P1_31 | Main Shear South | 153.47 | 158.10 | 4.63 | 1.34 | ||||
KB19_P1_31 | Main Shear South | 209.90 | 214.00 | 4.10 | 0.13 | ||||
KB19_P1_31 | Main Shear South | 252.15 | 257.15 | 5.00 | 0.09 | ||||
KB19_P1_31 | Main Shear South | 265.15 | 269.81 | 4.66 | 0.24 | ||||
KB19_P1_31 | Main Shear South | 279.48 | 286.61 | 7.13 | 0.12 | ||||
KB19_P1_31 | Main Shear South | 291.72 | 292.72 | 1.00 | 3.76 | ||||
KB19_P1_31 | Main Shear South | 300.33 | 303.81 | 3.48 | 0.36 |
Source:
2020 GlobeNewswire, Inc., source