TORONTO, Oct. 10, 2019 /CNW/ - Warrior Gold Inc.
(TSX-V - WAR) ("Warrior Gold" or the "Company") is
pleased to report that the summer field program of prospecting and
mapping has now been completed and planning of the Company's
follow-up diamond drilling program is underway.
The results from the prospecting program, designed to target
four structural domains (the Goodfish A and Kirana Deformation
Zones, the Kirkland Break Extension at Hargreaves and the
"Violette" Lineament - see Map 1) confirm the presence of anomalous
gold values on all four structures in addition to values up to 5.97
g/t Au associated with the Kirana DZ. A table of results can be
found on the Company's website located at
www.WarriorGoldInc.com.
A reconnaissance field mapping program was completed on
September 30th where a
total of 198 samples were collected with assay values expected by
the end of October. The mapping program was designed to follow up
areas of interest identified during the prospecting campaign.
Property-wide structural and litho-geochemical samples were
collected and new areas of exploration interest have been outlined.
Information obtained from this work has enabled the Company to
further define and refine its geologic model. The analytical
results will provide both pathfinders for gold-vectoring and an
array of elements for host rock and alteration discrimination
mapping.
Warrior Gold plans to undertake a 3,500-metre diamond drilling
program which is anticipated to start at the end of October 2019. Drilling will commence with a
2,000 m program of between eight and
ten holes at Goodfish "A Zone". This will focus on extending the
high-grade mineralization identified in previous drilling campaigns
(GK19-008 5.37 m of 9.04 g/t and
GF90-04 12.6 m of 16.97 g/t) along
strike and at depth as shown on Map 2. The remaining 1,000 m will be drilled at the Goodfish "C Zone"
and on regional targets identified from the summer program.
"We are pleased with the results and geological data collected
from the prospecting and mapping program as they confirm the
presence of anomalous and high-grade gold values on important
structures identified by the LiDAR, geophysics and historical
mapping. This information combined with the detailed structural
mapping and sampling contributes to our knowledge base, by adding
valuable information to the geological understanding of the
property. This will increase confidence for our Phase Two drilling
program slated to commence at the end of October," stated Danièle
Spethmann, President and CEO.
The technical information contained in this news release has
been approved by Tom Neelands,
P.Geo., the Chief Geologist for Warrior Gold, 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.
For additional information please contact:
Danièle Spethmann, P.Geo.
President & CEO
Warrior Gold Inc.
+1 647 344-3433
dspethmann@warriorgoldinc.com
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, 2019 and the first quarter
ended June 30, 2019, 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.
SOURCE Warrior Gold Inc.
