TORONTO, March 14, 2019 /CNW/ - Warrior Gold Inc.
(TSX-V - WAR) ("Warrior Gold" or the "Company") is
pleased to announce that drilling has commenced on the
Goodfish Kirana Project in Kirkland Lake,
Ontario. The property is situated approximately 6 km north
of the Cadillac Larder Lake Fault Zone in Kirkland Lake (Figure 1), and hosts numerous
gold showings, pits, shafts and several historical underground
workings.
A 2,200 m diamond drill program of
14 holes has been designed to test four high-priority Zones which
exhibit encouraging gold mineralization characteristic of
Abitibi-type gold deposits: Goodfish A; Goodfish A-East;
Goodfish C Zone and the Deloye Claims (Figure 2). Drilling has
started on the Company's Deloye patented claims.
TARGET HIGHLIGHTS AND OBJECTIVES
A Zone
Is a high-grade gold target that is hosted in
an east-southeast trending shear zone. This area contains the
property's most extensive historical underground development and
past drilling. The majority of this drilling was conducted in the
1990s and the records are incomplete. Warrior's drilling will test
the extension of the mineralization along strike and dip of a
historic drill intercept of 12.65 m @
16.97 g/t Au (GF95-04).
C-Zone
Is a NE-trending shear zone which was insufficiently drill tested
in the 1980s and 1990s. High-grade mineralization associated with
the contact of quartz-feldspar porphyry and mafic volcanics,
as well as high-grade grab samples indicate that the mineralization
continues along strike. Magnetic signatures from the airborne
survey suggest a possible association with an inferred cross-fault.
Drilling will confirm historic grades and confirm the Zone's
continuity along strike and down-dip
Deloye Zone
The Deloye Zone is interpreted to be an extension of the Kirana
Deformation Zone which intersects the southern extention of the
Goodfish Deformation Zone. The target area includes a 1930s shaft
with high-grade gold in grab, drill core samples, and mapped
quartz-feldspar porphyries. Drilling is designed to test the break
below the historical Kirana Kirkland
Mine underground workings, and the gold mineralization along
deformed porphyry contacts.
A Zone-East
The target is a shallow geophysical IP anomaly
(chargeability/resistivity) coincident with an inferred cross-fault
and fold hinge as identified in the airborne magnetics. Drilling is
planned to test both the structure and the IP anomaly.
Danièle Spethmann, Warrior Gold CEO commented: "The results
gained from this drill program will advance our understanding of
both the geology and the mineralization potential of this very
exciting property."
About Warrior Gold Inc.
Warrior Gold is a TSX-V
listed Company and owns the Goodfish-Kirana Property located 5 km
from the town of Kirkland Lake,
Ontario. The Property is located in the historic Kirkland Lake Gold Camp which is situated in the
prolific Abitibi Greenstone Belt, recognized as one of the world's
highest grade greenstone belts with over 200 million ounces of gold
produced to date.
The Goodfish-Kirana Property is 11.5 km long by roughly 3 km
wide (34 km2) and contains three major structural
trends: the East-West trending Kirana Deformation Zone; the
Northeast trending Goodfish Deformation Zone; and the Victoria
Creek Deformation Zone on the recently acquired Sutton claims on the northeast side of the
property. The Property contains numerous historical gold showings,
as well as 18 historical pits and shafts.
The scientific and technical content of this news release has
been reviewed, prepared and approved by Mr. Tom Neelands, P.Geo., Chief Geologist of Warrior
Gold, who is a "qualified person" as defined by National Instrument
43-101 – Standards of Disclosure for Mineral Projects ("NI
43-101")
Neither the 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.
Forward-Looking Statements: This press
release contains forward-looking statements. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"may", "will", "would", "potential", "proposed" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. The forward-looking statements are based on certain
key expectations and assumptions made by the Company. Although
Warrior Gold believes that the expectations and assumptions on
which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking
statements because Warrior Gold can give no assurance that they
will prove to be correct. Since forward-looking statements address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of
factors and risks. In addition to other risks that may affect the
forward-looking statements in this press release are those set out
in the Company's management discussion and analysis of the
financial condition and results of operations for the year ended
March 31, 2018 and the second quarter
ended September 30, 2018, which are
available at www.sedar.com. The forward-looking statements
contained in this press release are made as of the date hereof and
Warrior Gold undertakes no obligation to update publicly or revise
any forward-looking statements or information, whether as a result
of new information, future events or otherwise, unless so required
by applicable securities laws.
This press release does not constitute an offer, invitation
or recommendation to subscribe for or purchase any securities and
neither this press release nor anything contained in it shall form
the basis of any contract or commitment. In particular, this press
release does not constitute an offer to sell, or a solicitation of
an offer to buy, securities in the United
States, or in any other jurisdiction in which such an offer
would be illegal.
SOURCE Warrior Gold Inc.
