HALIFAX, May 10, 2017 /CNW/ - Antler Gold Inc.
("Antler") (TSX-V:ANTL) is pleased to provide an update on
its Winter 2017 exploration program including ground and airborne
geophysical surveys as well as till survey geochemistry results at
its Wilding Lake Gold Project ("Project") in central
Newfoundland. The summer
exploration program, to commence the third week of May, will entail
detailed and regional soil sampling, prospecting and mapping,
mechanical trenching and rock sampling in preparation for a fall
drilling program.
Six new bedrock gold occurrences were discovered in 2016 by
prospecting and follow-up trenching along recent logging roads and
demonstrate a robust gold system that include previously released
results of:
- Alder Zone: 6.0g/t over 8.5m, 8.7g/t over 6.7m and 49.3g/t over
4.6m
- Taz Zone: 28.8g/t over 1.0m,
12.2g/t over 0.9m and 14.6g/t over 0.65m
- Elm Zone: 101.5g/t over 0.5m, 93.1g/t over 1.3m, 37.5g/t over
0.9m and 18.0g/t over 1.2m
Exploration Winter 2017 Program Results
Tills. A total of 67 widely spaced, excavator-dug,
basal till test samples were collected as part of the November 2016 program carried out by Altius
Resources Inc. within the Wilding Lake claim block. Sampling
targeted both the immediate area surrounding the six new gold
occurrences and adjacent to the new logging access roads. These
samples were screened at Altius's in-house facility in Mount Pearl, Newfoundland, and the fine
fractions were sent to ALS Minerals laboratory in Sudbury, Ontario for gold geochemical assay.
The program returned twenty-eight sample assay values of >200
ppb Au (206 to 1000 ppb Au, with six samples of 1000 ppb Au). The
survey has successfully outlined gold-in-till anomalies associated
with the known gold occurrences while also defining new gold
anomalies deemed prospective for prospecting, soil sample surveying
and trenching follow-up in the summer program.
Please visit www.antlergold.com and click on "News Release
May 10th, 2017" to view a
map of the till sample results.
Ground and Airborne Geophysics. A ground magnetic
geophysical survey totaling 82 line kilometres was carried out over
an approximately 2.5 km by 1.5 km cut grid. The grid is centered
over the Alder/Taz (AT) and Cedar/Elm (CE) gold zones in the
Wilding claim block. In addition, a test IP-Resistivity geophysical
survey was completed over four grid lines that covered the AT and
CE zones. Both surveys were completed by Abitibi Geophysics
(Abitibi) of Val-d'Or, Quebec. The
ground magnetic survey has improved the geological understanding of
the property, and the IP-Resistivity survey was successful in
mapping the resistivity and polarizable properties of the
geological formations. In particular, a few local resistive zones
of interest were identified which can be associated with altered
(silicified) zones or quartz veins. The Alder gold zone is
well defined as a coincident resistivity anomaly in the survey.
Abitibi has recommended drilling eleven chargeable and/or resistive
targets defined in the survey.
A heli-borne triaxial magnetic gradiometer survey commenced in
February at 75-metre spaced lines targeting the entire Wilding
Project. The purpose is to assist in the overall regional
geological interpretation of the prospective area and in particular
the mapping of structures that are inferred to control the gold
mineralization. The survey is being conducted by Scott Hogg and Associates Ltd. of Toronto, Ontario. The Wilding and Wilding East
blocks were completed, but in March the survey was put on hold due
to continuously poor weather conditions. Approximately 80% of the
Noel Paul claim block was completed and the survey is expected to
recommence in mid-May with an estimated three days of surveying
required to complete the contract.
An ongoing geophysical compilation, modelling and interpretation
study of the Wilding Project is being conducted by geophysicist
Alan King MSc. of Geoscience North Ltd, Sudbury Ontario. Preliminary evaluation of the
Wilding claim block concludes that the new gold occurrences appear
to be associated with cross-cutting local structure and mag
anomalies, and possibly with weak to moderate IP anomalies. The
geophysical surveys and interpretation has provided key information
to focus further exploration on specific gold prospective
target areas.
2017 Summer Program.
The 2017 exploration program will systematically explore the
entire Project with the target to generate multiple targets for a
fall 2017 drill program. Following the discovery of six new gold
occurrences in 2016, Antler and Altius have generated a number of
new potential gold targets for follow-up in 2017 that were
generated from a combination of ground mag and IP geophysical data,
heli-airborne mag geophysical data, till data, as well as, the
recently reported gold assay in soil sample survey anomalies. In
preparation for the drilling program, the summer program will
consist of detailed and regional soil sampling, prospecting and
mapping, mechanical trenching and rock sampling. Antler's field
exploration team will consist of six geologists and two prospectors
with the program set to commence in the third week of May,
2017.
Summary.
The Wilding Lake property hosts high grade gold mineralization
within shear-related orogenic style quartz veins and quartz
stockworks underneath shallow overburden in an area that has not
previously been systematically explored for gold. The large
property encompasses 21,500 hectares and covers greater than 50
kilometres of strike length immediately northeast of and adjacent
to Marathon Gold Corporation's Valentine
Lake project. In addition, Antler announced on March 30, 2017 an additional option agreement
with Altius to acquire a 100% interest in an additional 1,678
minerals claims in central Newfoundland from Altius by, amongst other
things, issuing 980,000 common shares of Antler and a 2% NSR
Altius. The additional ground acquired will nearly triple Antler's
land holdings along the prospective trend and increase the strike
length Antler controls to 140 kilometres. The closing of the
additional option transaction is subject to a number of conditions,
including the approval of the TSXV.
Quality Control
All till samples were collected by Altius Resources Inc's
personnel on site, sealed in bags and shipped to Altius's secure
facility in Mount Pearl,
Newfoundland were the samples were dried and screened before
shipping the fine fraction to the ALS Minerals laboratory in
Sudbury, Ontario. Gold and the
multi-element assay package were analyzed by 50g assay with ICP-MS.
Exploration program design and field management, Quality
Assurance/Quality Control and interpretation of results was
performed by Jeff Morgan, P.Geo.,
Exploration Manager for Altius Resources Inc., and Dave Evans, P.Geo., Silvertip Consulting,
qualified persons employing a QA/QC program consistent with NI
43-101 and industry best practices; note that blind standards and
blanks were not employed by Altius in this initial till assessment
but QC standard and blank procedures were used by ALS
Minerals.
Howard Bird, P.Geo., Vice
President, Exploration of Antler Gold Inc., is the qualified person
as defined by NI 43-101 guidelines and has reviewed and approved
this release.
Cautionary Statements
This press release may contain forward-looking information, such
as statements regarding Antler's planned work program for the
Project. This information is based on current expectations and
assumptions (including assumptions relating to general economic and
market conditions) that are subject to significant risks and
uncertainties that are difficult to predict, including risks
relating to the ability to complete the work program in the
expected timeframe, adverse weather and other conditions affecting
work programs at the Project. Actual results may differ materially
from results suggested in any forward-looking information. Antler
does not assume any obligation to update forward-looking
information in this release, or to update the reasons why actual
results could differ from those reflected in the forward-looking
information unless and until required by securities laws applicable
to Antler. Additional information identifying risks and
uncertainties is contained in the filings made by Antler with
Canadian securities regulators, which filings are available at
www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Antler Gold Inc.