Stone Gold Inc. Announces 4,000 Metre Diamond Drilling Program at Copper Road Project, Batchewana Bay, Ontario
March 30 2022 - 6:00AM
Stone Gold Inc. (TSX-V: STG) ("Stone Gold" or the "Company")
announces that diamond drilling will commence on the Copper Road
Project in mid-April. The Company is fully permitted for up to
4,000 metres of diamond drilling at the company’s 21,000-hectare
Batchewana Bay District located approximately 80 km. north of Sault
St. Marie, Ontario.
The Batchewana Bay District is situated on the
eastern edge of the Late Proterozoic (1050-1115 Ma) Midcontinent
Rift, most of which now lies beneath Lake Superior. The western and
central part of the property (Copper Road) straddles the NNW
trending unconformity between the Mamainse Point Formation to the
west and rocks of the Batchewana Greenstone Belt of the Archean
Superior Province to the east. The Copper Road Project inclusive of
two former copper mines (Coppercorp and Tribag) consists of
Keweenawan Proterozoic volcanic-sedimentary rocks intruded by
multiple mineralized breccia and porphyry bodies and historical
estimates.
The former Tribag Mine (“Bretton Breccia”) was
closed to staking from 1974-2008, in legal dispute from 2008-2016,
has not been drilled in almost 50 years and was never tested for
additional mineralization (Au,Re,Mo,Ag,W) discovered in the area.
The former mine (operated by Teck Resources Limited) produced
approximately 1.2 million tonnes @ 1.5% Cu from 1966-1972.
Stone Gold President/CEO John Timmons comments,
“Our goal is to establish the grade and depth potential of the
Breton and East Breccias at the Tribag Mine Zone, while performing
full spectrum assay analysis to test for additional mineralization
known in the
area.”
The information in this press release has been reviewed and
approved by Dr. Trevor Boyd, P. Geo., and a Qualified Person for
the technical information under NI 43-101 standards.
For further information, please contact: Mr. John Timmons
President & CEO Stone Gold Inc. Cellular (416) 931 2243 Email:
jtimmons@stonegold.ca Web: www.stonegold.ca
Stone Gold Inc. is engaged in the acquisition,
exploration, and evaluation of mineral exploration properties for
the mining of precious and base metals in northern Ontario,
Canada
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release.
Caution Regarding Forward-Looking Information
This news release contains forward-looking information that
involves substantial known and unknown risks and uncertainties,
most of which are beyond the control of Stone Gold. Forward-looking
statements include estimates and statements that describe Stone
Gold's future plans, objectives or goals, including words to the
effect that Stone Gold or its management expects a stated condition
or result to occur. Forward-looking statements may be identified by
such terms as "believes", "anticipates", "expects", "estimates",
"may", "could", "would", "will", or "plan". Since forward-looking
statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Although these statements are based on information
currently available to Stone Gold, Stone Gold provides no assurance
that actual results will meet management's expectations.
Risks, uncertainties, and other factors involved
with forward-looking information could cause actual events,
results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, regulatory approval processes, failure to identify
mineral resources, delays in obtaining or failures to obtain
required governmental, regulatory, environmental or other project
approvals, political risks, inability to fulfill the duty to
accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry, and those risks set
out in Stone Gold's public documents filed on SEDAR.
Although Stone Gold believes that the
assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all.
Stone Gold disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a1780a17-71c2-4d70-a22f-7c0031e1fa1f
https://www.globenewswire.com/NewsRoom/AttachmentNg/5f62aa5a-5748-4c8a-9230-b2d112e8bb9a
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