TORONTO, April 8, 2019 /CNW/ - Warrior Gold Inc. (TSX-V
- WAR) ("Warrior Gold" or the "Company") is pleased to
provide an update on the Company's drill program on its
Goodfish-Kirana Project in Kirkland
Lake, Ontario. To date, 1,522 metres of drilling has
been completed in 10 holes, 845 m of
core has been logged, 650 m of core
has been sampled and 482 samples have been delivered to ALS
Geochemistry ("ALS") in Timmins
for assay analysis.
Tom Neelands, Chief Geologist,
Warrior Gold, stated, "Our 14-hole diamond drill program has been
designed to test four high-priority zones which host encouraging
gold mineralization characteristic of Abitibi-type gold deposits:
Goodfish A Zone; Goodfish A-Zone East; Goodfish C Zone and the
Deloye claims. Drilling has been completed on the Deloye
claims and at the C Zone and is currently underway at the Goodfish
A Zone. We are very pleased with how the drill program is
progressing and drilling close to Kirkland Lake, a mining town, provides ideal
logistical support for the drill program."
The Goodfish-Kirana Project is situated approximately six 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.
Target Areas
A Zone
The 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 lacks complete sampling and assay records. Warrior's
drilling is testing the extension of the mineralization along
strike and down dip of a historic drill intercept of 12.65 m that assayed 16.97 g/t Au (GF95-04).
C-Zone
Is a northeast-trending shear zone that 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 is intended to 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 samples, drill core samples, and
mapped quartz-feldspar porphyries. Drilling is designed to test the
Kirana 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
testing both the structure and the IP anomaly.
Analytical Procedures and QA/QC
Program design, management, and Quality Control/Quality
Assurance are conducted by Warrior Gold's exploration group under
the supervision of Tom Neelands,
P.Geo, who is the Company's Qualified Person.
Drill core samples are cut by diamond saw at CXS in Larder Lake, Ontario, 27 km east of
Kirkland Lake. A halved core
sample is left in the core box with the other half core sampled and
transported by Warrior Gold's personnel in securely sealed bags to
ALS preparation laboratory in Timmins, Ontario. After
sample preparation, samples are shipped to ALS's Vancouver facility for gold and ICP analysis.
Gold assays greater than three g/t are re-assayed on a 30 g split
by fire assay with a gravimetric finish. ALS is a certified and
accredited laboratory service. ALS routinely inserts certified gold
standards, blanks and pulp duplicates, and results of all QC
samples are reported.
The technical information contained in this news release has
been approved by Tom Neelands, P.Geo., the Chief Geologist of
Warrior Gold, who is a Qualified Person as defined in
"National Instrument 43-101, Standards of Disclosure for Mineral
Projects."
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange listed Company that owns
the Goodfish-Kirana Property located five 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 three 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.
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 third quarter
ended December 31, 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.
