Highlights:
- 1911 Gold completed 9,202 metres of drilling on priority
targets at the Tinney, Bidou and Wallace projects on the Rice Lake
property, and at the Apex project near Snow Lake, Manitoba
- To date, assay results for 5,028 metres of drilling at the
Tinney and Bidou projects have been received, with assays pending
on 2,528 metres at the Wallace project as well as 1,646 metres at
the Apex (Snow Lake)
project
TORONTO, June 8, 2022
/CNW/ - 1911 Gold Corporation ("1911
Gold" or the "Company") (TSXV: AUMB) (OTCQX: AUMBF)
reports that it has received assay results from 20 drillholes
completed in the Tinney and Bidou project areas as part of the
first phase of 2022 exploration drilling at its 100%-owned Rice
Lake Gold Property in Manitoba.
For 2022, the Company's exploration program will include two
phases of exploration drilling as well as the regional field
program with the goal of advancing and expanding our pipeline of
projects at Rice Lake, while also advancing the Apex and
Denton-Keefer (Timmins, Ontario)
properties.
The Company completed 35 drillholes during the initial phase of
drilling, totalling 9,202 metres, to test multiple targets at the
Bidou, Tinney and Wallace projects on the Rice Lake Gold Property
(Figure 1), and to test several targets on the Apex
(Snow Lake) Gold Property in
northern Manitoba.
The Company completed 5,028 metres of exploration drilling at
Tinney and Bidou, including 12 drillholes (3,245 metres) to
follow-up on four priority targets from the Company's previous
drilling, and 8 drillholes (1,783 metres) to test four new targets
generated by the field exploration program (Table 1).
Table 1: Assay results from 2022 exploration drilling
at the Tinney and Bidou projects.
(1) Numbering reflects order in which
drillholes were planned, rather than sequence of drilling
(2) Represents drillcore length; true widths are
presently unknown
(3) Weighted-average composites; NSV, no
significant values
|
Tinney Project
Exploration drilling at Tinney focused on the northern section
of the Gunnar porphyry intrusion, testing favourable structures in
the porphyry and its host rocks, over a strike length of 1.8
kilometres (Figure 2). Previous drilling by the Company
indicates that the porphyry was a significant conduit for
gold-bearing fluids, analogous to Sigma-Lamaque in the Val d'Or camp, with extensive quartz vein
systems associated with pervasive alteration and local high-grade
gold.
Edna-Otter Target
Drilling at the Edna-Otter target had three objectives:
- complete a fence of shallow drillholes (EO-22-029, -030, -031
and -034) to test, at roughly 60 metres vertical depth, the
continuity of a modeled structure at the upper contact of the
porphyry that returned high-grade intercepts from previous drilling
(e.g., 8.1 g/t gold over 5.7 metres in EO-21-005; see Press
Release dated March 24,
2021);
- test the northwest and northeast plunge-extensions of
structural intersections predicted from the Company's detailed 3D
model (EO-22-021 and -024);
- complete a deeper drillhole to test the porphyry down-dip
beyond the limits of previous drilling, to confirm depth continuity
of the mineral system (EO-22-026).
Drillhole EO-22-026 — the deepest yet completed at Edna-Otter at
533 metres — intersected the porphyry over a core length of 145
metres, from 334 metres downhole, encountering over 70 metres of
sheeted quartz veins, alteration and sulphide mineralization that
returned sporadic anomalous values up to 0.4 g/t gold, thus
confirming the mineral system continues to depth.
Drillhole EO-22-024 tested down-plunge to the northeast on the
porphyry, yielding 32.2 g/t gold over 0.7 metres from a laminated
quartz vein with visible gold just above the upper contact.
Although the shallow fence of drillholes consistently
intersected the modeled structure at the upper contact of the
porphyry, assays yielded erratic gold values over narrow widths.
Steep and flat veins adjacent to the target structure returned
local high-grade intercepts over narrow widths (11.1 g/t gold over
0.9 metres in EO-22-031; 10.6 g/t gold over 0.5 metres in
EO-22-034), highlighting the complexity of structures and veins
within the porphyry.
Newly acquired data from the 2022 drilling at Edna-Otter will be
utilized to revise and enhance the 3D model for this target and
evaluate additional drill targets.
Cougar Target
One drillhole was completed at the Cougar target (located
immediately south of Edna-Otter along the Gunnar porphyry) to test
for continuity of high-grade zones (e.g., 9.3 g/t gold over 2.6
metres in CG-20-001; see Press Release dated April 30, 2020) at the upper and lower
contacts of the porphyry.
Drillhole CG-22-007 intersected thick intervals of shear
deformation, alteration and quartz veins at both contacts of the
porphyry; a laminated vein near the upper contact contained a few
specks of visible gold and returned 1.14 g/t gold over 0.5 metres.
These structures remain open along strike to the south and to
depth.
Other Targets
The Company completed seven drillholes, targeting large-scale
structures adjacent to and cutting the Gunnar porphyry, as defined
by outcrop mapping and LiDAR interpretation, and with associated
gold in outcrop and surficial sediments. Drilling specifically
targeted bends or offsets of geological units along these
structures, none of which had previously been tested by
drilling.
Thick zones of intense deformation with laminated quartz veins
at the Victoria and Big Mac
targets returned localized gold values, including 4.9 g/t gold over
0.7 metres and 8.8 g/t gold over 0.5 metres in MC-22-002, 3.4 g/t
gold over 1.0 metres in MC-22-003 and 3.2 g/t gold over 0.5 metres
in VC-22-001. Each of these large-scale gold-bearing structures
remains open along strike and to depth, and will be further
evaluated during the 2022 field exploration program.
Bidou Project
Exploration drilling at Bidou focused on the Bidou South and
Bidou Shear targets (Figure 3), where previous drilling by
the Company intersected gold mineralization within large-scale
structures that cut basalt flows, sedimentary rocks, gabbro sills
and porphyry dikes – a setting strongly analogous to the Company's
True North deposit at Bissett.
Bidou South Target
Drillhole BL-22-019 targeted the intersection between layered
gabbro and a cross-cutting structure at a vertical depth of
approximately 400 metres, making this the deepest drillhole
completed to date on this target. The drillhole intersected nine
metres of intensely sheared, altered, quartz-veined and sulphidized
(pyrite, pyrrhotite, chalcopyrite, sphalerite) gabbro,
approximately 10 metres above the targeted depth. This zone yielded
consistent elevated gold values over 6.3 metres, with a weighted
average grade of 0.6 g/t gold over that interval, confirming that
the targeted structure remains open down plunge and along strike at
this depth, and is gold-bearing.
Drillhole BL-22-016 tested the same structure near surface,
stepping out along strike to the west of previous drilling, but did
not yield significant assay results.
Bidou Shear Target
Two drillholes (BS-22-009, -010) were completed along strike to
the west of previous drillholes at Bidou Shear, to test a major
structure hosted by a panel of sedimentary rocks between two gabbro
sills. Both drillholes intersected the targeted structure, defined
by over 10 metres of strongly sheared, altered and quartz-veined
sedimentary rocks, with BS-22-010 returning 0.5 g/t gold over 0.5
metres.
Eldorado Target
The Eldorado structure (see
Figure 1 for general location) ranges from 1 to 2 metres
wide at surface and is traced by mapping for over 700 metres along
strike, with veins and stringers of quartz containing localized
high-grade gold over its entire strike length. In the 1930s,
Eldorado was developed on three
levels underground via a vertical shaft, but was never brought into
production.
Three drillholes were designed to test the main structure below
the workings, in locations down-plunge from high-grade gold
showings on surface and major flexures in the structure. One
drillhole (EL-22-001) was completed in the first phase of drilling,
intersecting three narrow zones of gold mineralization, the deepest
of which, representing the main structure, returned 1.1 g/t gold
over 0.9 metres, thus confirming the structure is open, albeit
narrow, at depth.
2022 Field Exploration
Program
Fieldwork is underway in a number of project areas on the Rice
Lake property, including the Palomar and Central Manitoba projects where early
reconnaissance sampling has returned high-grade gold values from
quartz veins in outcrop, representing priority areas for follow-up.
Data acquisition is also underway at the Denton-Keefer property
located 30 km southwest of Timmins,
Ontario, along the prolific Porcupine-Destor fault, with UAV LiDAR to be followed by
heli-borne magnetic and electromagnetic surveys.
QA-QC Protocols
Sample handling, preparation and analysis are monitored through
the implementation of formal chain-of-custody procedures and
quality assurance-quality control (QA-QC) programs designed to
follow industry best practices. Drillcore is logged and sampled in
a secure facility located in Bissett,
Manitoba. Drillcore samples for gold assay are cut in half
using a diamond saw and are submitted to Activation Laboratories
Ltd. (Actlabs) in Ancastor, Ontario, for preparation by crushing to 80%
passing 2 millimetres, riffle splitting to obtain 250-gram
aliquots, and pulverizing to 95% passing 106 microns. Pulps are
analyzed by a 30-gram fire assay and AAS finish. For assays above 5
g/t Au, a cut of the original pulp is re-assayed with a gravimetric
finish. Samples with visible gold are analyzed by metallic screen
assay. In addition to Actlabs' in-house QA-QC protocols, 1911 Gold
inserts certified standards, non-certified blanks and field
duplicates into the sample stream at regular intervals, such that
QA-QC accounts for 10% of the total samples submitted. Results are
routinely evaluated for accuracy, precision and contamination.
Qualified Person
Statement
Technical information in this news release has been reviewed and
approved by Dr. Scott Anderson,
Ph.D., P.Geo., the Company's Vice President, Exploration, and
Qualified Person as defined by Canadian National Instrument 43-101
– Standards of Disclosure for Mineral Projects.
About 1911 Gold
Corporation
1911 Gold is a junior explorer that holds a highly prospective,
consolidated land package totalling more than 58,000 hectares
within and adjacent to the Rice Lake greenstone belt in
Manitoba, and also owns the True
North mine and mill complex at Bissett,
Manitoba, where it reprocesses historic tailings on a
seasonal basis. 1911 Gold believes its land package is a prime
exploration opportunity, with potential to develop a mining
district centred on the True North complex. The Company also owns
the Apex project near Snow Lake,
Manitoba and the Tully and Denton-Keefer projects near
Timmins, Ontario, and intends to
focus on both organic growth opportunities and accretive
acquisition opportunities in North
America.
1911 Gold's True North complex and exploration land package are
located within the traditional territory of the Hollow Water First
Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks
forward to maintaining open, co-operative and respectful
communication with the Hollow Water First Nation, and all local
stakeholders, in order to build mutually beneficial working
relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Shaun Heinrichs
President and CEO
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often,
but not always, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or describes a "goal", or variation 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.
All forward-looking statements reflect the Company's beliefs and
assumptions based on information available at the time the
statements were made. Actual results or events may differ from
those predicted in these forward-looking statements. All of the
Company's forward-looking statements are qualified by the
assumptions that are stated or inherent in such forward-looking
statements, including the assumptions listed below. Although the
Company believes that these assumptions are reasonable, this list
is not exhaustive of factors that may affect any of the
forward-looking statements.
Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors which
may cause the actual results, performance or achievements to be
materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or
implied by the forward-looking statements. All statements that
address expectations or projections about the future, including,
but not limited to, statements about exploration plans and the
timing and results thereof, are forward-looking statements.
Although 1911 Gold has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements 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 statements.
All forward-looking statements contained in this news release
are given as of the date hereof. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except in accordance with applicable securities
laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE 1911 Gold Corporation