Highlights:
- Drillhole BL-20-005 returned 5.99 g/t Au over 3.3 metres, including 7.98 g/t Au over 1.5 metres, from the Bidou South Target, followed 10 metres downhole by a second intercept of 1.65 g/t Au over 4.4 metres – indicating stacked zones of gold mineralization in this location
- Drillhole BL-20-010, drilled on the same section as BL-20-005 to test these zones to depth, also returned two zones of gold mineralization, including 0.59 g/t Au over 2.6 metres, followed 7 metres downhole by 4.52 g/t Au over 1.5 metres, the latter including 6.24 g/t Au over 0.9 metres
- At the Bidou Shear Target, drillhole BS-20-004 intersected stockwork quartz veins and strong alteration over a core length of 10 metres, returning 4.73 g/t Au over 2.3 metres, including 15.1 g/t Au over 0.5 metres
- With two drill rigs now turning in the Tinney project area, which was inaccessible until recently pending freeze-up, the Company anticipates strong news flow as it begins follow up drilling of high-grade mineralization discovered in the Phase I drilling program
1911 Gold has a cash balance of$10.0 million (as ofDecember 31, 2020 ) and the Phase II drilling program is fully funded
Included in this release are results from the initial six drillholes, totalling 1,779 metres (Table 1), of the planned 18,000 metre Phase II program, which was initiated with one drill rig on
Table 1: Assay results from initial Phase II drilling at the Bidou project
The initial six drillholes of the Phase II program tested two targets within the Bidou project area, including the Bidou South and Bidou Shear targets (Figure 1), both of which returned encouraging results from first-pass drilling in the Phase I program.
Bidou South
Five drillholes were completed at Bidou South (Figure 2), along strike and to depth on a stacked series of structures that cut across a thick layered gabbro sill hosted by sedimentary rocks, analogous to the main ore-hosting unit at the 3-million-ounce True North gold deposit at
Collared 70 metres to the west of BL-20-002 along strike, drillhole BL-20-005 tested the same structure at a similar elevation and returned 5.99 g/t Au over 3.3 metres (152.55–155.8 metres downhole), including 7.98 g/t Au over 1.5 metres (152.55–154.03 metres downhole), followed 10 metres downhole by a second intercept of 1.65 g/t Au over 4.4 metres (166.05–170.44 metres downhole). Both intercepts are associated with quartz-carbonate-tourmaline-pyrite veins in strongly sheared gabbro (Figure 3). These results confirm at least two gold-bearing zones within a thick structural zone in this location, which potentially correlates with the mineralized zone in BL-20-002.
Drillhole BL-20-010, drilled on the same section as BS-20-005 (Figure 4) to test this structure to depth, also returned two zones of gold mineralization, including 0.59 g/t Au over 2.6 metres (189.4–192.0 metres downhole), followed 7 metres downhole by 4.52 g/t Au over 1.5 metres (198.8–200.25 metres downhole), the latter including 6.24 g/t Au over 0.9 metres (199.35–200.25 metres downhole). These results strongly suggest continuity of the gold bearing structure both along strike and down dip in this location, and provide scope for additional drilling, particularly along strike to the east where the principal structure extends under
Drillhole BL-20-003, drilled on the same section as BL-20-002, confirmed the presence of the targeted structures, yielding narrow zones of lower grade gold mineralization, the deeper of which (0.52 g/t Au over 1.2 m from 210.6 to 211.75 metres) may correlate with the lower of the mineralized zones intersected in drillholes BL-20-005 and BL-20-010.
Bidou Shear
At the Bidou Shear target (Figure 5), located 1.7 kilometres east of Bidou South, quartz-carbonate-tourmaline veins are developed along a contact between sedimentary rocks and gabbro within the kilometre-scale Bidou Shear. Drillhole BS-20-004 intersected quartz-carbonate-tourmaline veins and strong alteration over a core length of 10 metres, returning 4.73 g/t Au over 2.3 metres (114.91–117.22 metres downhole), including 15.1 g/t Au over 0.5 metres (116.7–117.22 metres downhole). This drillhole was collared 75 metres along strike to the west-northwest of BS-19-001, which intersected 16.2 m of stockwork veins that returned 9.40 g/t Au over 0.7 m within a wider envelope of strongly anomalous gold values (see news release dated
2020–2021 Phase II Exploration Drilling Program
As announced previously, the Phase II drilling program will be comprised of approximately 60 drillholes, totalling 18,000 metres of drilling, primarily following up on the successful Phase I program at the Tinney and Bidou projects. The program will also include first-pass drilling, totalling approximately 7,000 metres, of new targets that have been advanced to the drill stage at the Bidou, Tinney, Horseshoe, Poundmaker and Wanipigow East projects.
In addition to the 1,779 metres of drilling reported here, the Company has completed 4,296 metres of drilling in 18 drillholes in the Phase II program, including 1,531 metres of follow-up drilling in six drillholes on the Janet target (Bidou project area), as well as first-pass drilling on a number of new targets as follows: 603 metres in 3 drillholes on the Woodchuck target (Bidou project area), 346 metres in two drillholes on the
Going forward, one drill rig will continue testing new targets located northwest of the True North complex in the Poundmaker and Horseshoe project areas, whereas two drill rigs will focus on high-priority follow-up drilling of targets on the Tinney project, including the Edna-Otter,
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
Qualified Person Statement
Technical information in this news release has been prepared, reviewed and approved by
About
ON BEHALF OF THE BOARD OF DIRECTORS
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
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
SOURCE
© Canada Newswire, source