Highlights
- The new sampling has increased the Coritiri anomaly to 2000m x 900m.
The anomaly remains open along strike to the east and southeast. - 17 channel samples returned between 0.5g/t – 11.2g/t Au.
- Permitting is underway for up to 40 drill sites within the Coritiri target with the intent of drilling in the upcoming field season.
- The planned drill program will represent the first-ever drilling of this target.
Earlier work by former owners Palamina Corp. identified a prospective northwest-southeast aeromagnetic anomaly coincident with historic gold adits above a stream sediment gold anomaly now known as Winshear’s
Dr.
“The third tranche of samples (414) taken in late 2020 and first reported in this press release has served to once again significantly increase the size of the Coritiri bedrock gold anomaly to 2000 metres by 900 metres (Figure 4). The anomaly is still open along strike to the east-southeast.”
“Winshear intends to drill the first holes ever drilled in the Coritiri anomaly in the 2021 field season. The required field work to support the drill permit application by specialists in archaeology, biology, and sociology is complete, and we plan to take baseline air, noise, soil, and water samples as soon as the weather permits. Once we have the baseline measurements, the last major step is to hold a required workshop on our proposed drill program with the San Gaban community.”
Coritiri was initially identified from interpretation of airborne magnetic data, flown in 2018, which inferred the presence of an 8 km x 1 km NW-SE linear target adjacent to a 6.5 km x 3.0 km northwest-southeast trending magnetic high (Figure 2). The geophysical anomaly is coincident with a 5 km long series of gold-in-stream sediment anomalies located within the
There are numerous artisanal workings in the Yanamayo catchment that develop placer gold deposits nuggets where Winshear field crews have observed local alluvial miners extracting nuggets weighing up to 54 grammes. There are several prospect pits and adits developed on outcropping quartz veins, some exposing visible gold.
The new channel sample assays reported here were collected from creek-side and excavated outcrops in Winshear’s field campaigns of October, November, and
- Of the 414 samples reported in this press release:
- 17 samples returned between 0.50 – 11.2 g/t Au
- 29 samples returned between 0.10 – 0.50 g/t Au
- 16 samples returned between 0.05 – 0.10 g/t Au
- 238 samples returned between 0.005 – 0.05 g/t Au
- 114 samples returned below detection (0.005 g/t Au)
- Of the total 705 samples collected to date:
- 55 samples returned between 0.50 – 15.8 g/t Au
- 66 samples returned between 0.10 – 0.50 g/t Au
- 48 samples returned between 0.05 – 0.10 g/t Au
- 404 samples returned between 0.005 – 0.05 g/tAu
- 132 samples returned below detection (0.005 g/t Au).
Locations and grade ranges of all bedrock samples in the Coritiri area are plotted on figure 4, revealing the dimensions of the bedrock anomaly.
Winshear’s proposed Gaban drill program will be the first ever carried out on the property. The Company looks forward to revealing the depth dimension of the surface bedrock gold anomaly at Coritiri that provided a source of local alluvial gold deposits and perhaps of the large
Technical Information
Channel samples are taken from exposed outcrops and cut to capture the best available angle to the orientation of the sampled structure. Samples collected in the field are accompanied by third party, certified gold standards, sample blanks and duplicates, then transported by Winshear personnel to the
About
The Company is also conducting fully funded arbitration proceedings against the Tanzanian Government to recover its investment and damages for the expropriated SMP gold project in
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ON BEHALF OF THE BOARD OF DIRECTORS
“Mark V. Sander”
Neither the
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This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including, if any, those related to the likelihood of commercial mining or the ability to fund future mine development are forward-looking statements and contain forward-looking information. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: Company plans at the Gaban or Tinka projects, the Company’s ability to fund either of those projects, and any Company plans in relation to any interest it has or may have in the SMP project in Tanzania.
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