Highlights:
- Upcoming geophysical program at Pine Channel is planned to include a 260-line kilometre, helicopter-borne, magnetic survey at 75m line spacing
- Excellent access with existing winter road to within 1km and central portions of the property accessible by boat or float plane
- Upcoming exploration program at
Shasko Bay will include 148-line kilometres of infill, high-resolution, airborne EM and magnetic data - Multiple untested geophysical anomalies associated with favourable geology at the projects; targets for multiple deposit models (Orogenic Au and Unconformity-U)
- Encouraging exploration to date including historical mineralized drill intercepts
Proposed Field and Geophysical Work at Pine Channel:
The northern part of the 8,878 hectare Pine Channel Property hosts numerous gold occurrences ranging from trace quantities to up to 870 g/t Au in grab samples. Shallow historical drilling has intercepted 0.6m of 63.50 g/t Au (
Pine Channel Project Map:
https://www.apogeemineralsltd.com/_resources/images/pine-channel-project-map-figure-1.jpg
A 2024 exploration program is planned to include a 260-line kilometre, helicopter-borne, magnetic survey at 75m line spacing over areas of the property without detailed magnetic coverage and geologic mapping in the vicinity of the
Proposed Field and Geophysical Work at Shasko:
Shasko Bay Project Map:
https://www.apogeemineralsltd.com/_resources/news/Shasko-Bay-September-2023.png
Pine Channel Gold Property Summary:
The main deposit type that is being explored for at Pine Channel is structurally controlled vein-quartz (lode) gold deposits. Mineral occurrences on the Pine Channel Property contain predominantly gold, with rare base metal occurrences. Within the Pine Channel tenures there are eighteen historical showings reported by the Saskatchewan Mineral Deposit Index (SMDI).
Highlights from documented historical work and previously reported results include:
Government mapping in the Pine Channel area dates from 1913, with the first industry work reported in 1950. A total of 51 assessment reports have been filed within the current
The first recorded systematic exploration work on the Pine Channel property was in 1950 by Goldfields Uranium Mines. The first significant program on the property was in 1980 by Golden Rule Resources who completed 246 line-km of airborne EM (INPUT) and magnetic surveying. Follow-up groundwork located 11 significant occurrences. From 1985-1988 Colchis Resources completed VLF-EM geophysics, biogeochemical surveys, prospecting, soil sampling and trenching followed by shallow diamond drill testing of selected targets.
The
In 2019-2020, Eagle Plains completed field programs focused on prospecting and mapping in areas of known mineral occurrences. The work confirmed the widespread occurrences of auriferous quartz veins and associated shear systems in the Pine Channel property. Analytical results from the seventy-two rock samples collected in 2020 range from 6 ppb Au to 68,400 ppb Au. Twenty-three of the samples returned greater than 1 g/t Au, and eight returned greater than 10 g/t Au. The most encouraging of the known showings are the ELA Shaft showing (SMDI 1574) and Occurrence No. 6 and No. 8 (SMDI 1581), which both demonstrate anomalous gold geochemical results and potential for extension of known mineralization along strike.
Shasko Bay Project Summary:
The Project was staked by Eagle Plains in early 2023 in recognition of both the gold potential (with basement-hosted auriferous quartz veins and associated shears that strike onto the property from the
Between the late 1960’s to the early 2000’s the region was explored for uranium and gold by various companies. The Fond Du Lac Uranium deposit is the most significant discovery in the region to date and is located 24 km to the NW-W. Work in the area consisted of seismic reflection studies, multiple types of airborne and ground-based geophysical surveys, geochemical surveys, prospecting, mapping, trenching and four separate drill programs which intersected multi gram-per-tonne gold assays (up to 6.8 g/t Au over 2.1m) from quartz stringers in the
The above results were summarized from SMDI descriptions and assessment reports filed with the
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About
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www.apogeemineralsltd.com
“Tim Fernback”
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This news release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the structure of the Proposed Transaction, the terms and conditions of the Proposed Transaction, the Consolidation, the Name Change, the terms of the Financing. the composition of the board of directors and officers of the Resulting Issuer upon completion of the Proposed Transaction, the intention of the parties to seek a sponsorship exemption or waiver, the issuance of subsequent news releases, and Alto Verde’s future exploration plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
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