Drill results confirm the discovery of a new high grade gold mineralized zone (the “Hotspot”).
LC 21-80 returned 7.62 g/t Au over 48.8 meters, including 77.16 g/t Au over 4.5 meters.
LC 21-81 returned 5.68 g/t Au over 60.9 meters, including 17.76 g/t Au over 18.3 meters, and 99.7 g/t Au over 1.5 meters.
LC 21-82 returned 1.84 g/t Au over 122 meters including 8.61 g/t Au over 9.2 meters, and 4.28 g/t Au over 47.3 meters, the latter two results being in granite. The hole ended in gold mineralization at 122 meters.
Key Highlights
- The presence of significant gold mineralization in granite (LC 21-82), demonstrates new and significant potential to the project. Previously the granite was thought to be barren. The Company will now undertake to assay granites from the previous drillhole samples not sent to the lab.
- It is now warranted to drill longer and deeper holes at
Lapon Canyon , with significant gold mineralization recently discovered within the granite at the Hotspot, previously unknown to exist on the Project. - Hole 21-65 (1.88 g/t over 54.5 meters) was the initial discovery hole. The zone is not visible at surface, as it is covered by a blanket of colluvium and granite boulders
- Holes LC 20-35 (1.35 g/t over 22.9 meters) and LC 21-67, located some 100 meters NW of the new Hotspot zone confirmed its discovery.
- The unanticipated robust nature of gold mineralization discovered at the Hotspot zone, allows the Company to apply the same methodologies at Lapon Canyon’s other known mineralized zones. Including, follow up drilling at the mineralized zones discovered in holes LC 19-42 and 43.
- The 2022 drill programs at
Lapon Canyon will now consist of systematic drilling on section for geological modelling purposes, as well as exploration drilling to discover new gold mineralization and extend known gold mineralization, including, now at depth.
Assay Table: Summary of Drill Results:
Hole | From (m) | To (m) | Length* (m) | Assay (Au g/t)* | Gold Metal Factor (g/t x m) | Notes: | |
LC 21-80 | 10.7 | 59.5 | 48.8 | 7.62 | 372 | ||
incl | 55 | 59.5 | 4.5 | 77.62 | 347 | ||
and | 55 | 56.5 | 1.5 | 166.37 | 249 | ||
and | 58 | 59.5 | 1.5 | 65.00 | 97.5 | ||
LC 21-81 | 10.7 | 71.6 | 60.9 | 5.68 | 346 | ||
incl | 41.2 | 59.5 | 18.3 | 17.76 | 325 | ||
and | 47.3 | 48.8 | 1.5 | 99.78 | 150 | ||
and | 53.4 | 54.9 | 1.5 | 39.98 | 60 | ||
and | 57.9 | 59.4 | 1.5 | 50.98 | 76 | ||
LC 21-82 | 0 | 122 | 122** | 1.84 | 224 | ||
incl | 64 | 111.3 | 47.3 | 4.28 | 202 | ||
and | 85.3 | 122 | 36.7 | 3.46 | 127 | In Granite | |
and | 85.3 | 94.5 | 9.2 | 8.61 | 79 | In Granite | |
LC 21-76 | 13.7 | 15.2 | 1.5 | 25.57 | 38 |
* The above drill results are presented uncapped and lengths represent sampled lengths. True width is estimated to be between 60 and 80 percent of sampled widths.
** LC 21-82 ended at 122 meters in gold mineralization
The new Hotspot zone is located some 200 meters above and 250 meters SE, on strike with the high-grade mineralization at the historic mine workings, with previously reported high grade drill results (LC 16-10 77.62 g/t over 12.2 meters, among others).
Other drill holes include LC 21-76 and LC 21-84 where a second altered zone was discovered below granite. The two altered zones show anomalous to low grade gold throughout, with LC 21-76 returning a high-grade value of 25.57 g/t over 1.5 meters. The granites also show anomalous gold values throughout, an excellent indicator for future exploration. The presence of a second altered zone below granite is very significant as it increases the potential of
Drillholes LC 21-73 to 75 were drilled in the barren late-stage diorite intrusive at the bottom of
Drillholes LC 21-85 and 86, were drilled in the lower granites, in preparation for follow up drilling of the high-grade mineralization discovered in Holes LC 19-42 and 43.
Finally, holes LC 21-77 to 79 were drilled to ascertain geological parameters for the drilling of the discovery at the new Hotspot zone. Unexpectedly this led to the discovery of the Upper Granite, which is well mineralized in LC 21-82 (Hotspot).
Now that the late 2021 drill program assay results have been received, planning of the continuation of drilling at
Drilling at the
The gold mineralization at
The high-grade gold mineralization is encountered in discrete, traceable zones located at the intersection of flat lying porphyry dikes and vertical stockwork fracture chimneys.
About the Lapon Gold Project
Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance
All sampling was conducted under the supervision of the Company's project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample.
Samples are taken and bagged directly at the drill rig at every 1.5 meter interval, standard in the exploration industry. A small sample is also taken at the drill rig and put into a chip tray for examination purposes and to determine those sample bags that should be sent to the lab for assay purposes. Often this work is carried
out using a microscope for the examination of the rock chips. The full sample bag from the interval chosen for assay purposes is then sent directly from the drill site to the lab, located in
The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by
ON BEHALF OF THE BOARD OF DIRECTORS
“
________________________
Chief Executive Officer and Director
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