Highlights - Carrickittle:
- A silver zone encountered in G11-2840-11 (736 g/t silver over 1.0 metres; see news release dated
December 9 th, 2020) has been further studied and found to consist of a narrower (20-centimetre) interval averaging 3,961 g/t silver – to management's knowledge, one of the highest silver grades ever attained inIreland - Next phase of follow-up drilling is expected to start in
mid-February 2021 and total approximately 400 metres, focussing on Zone 2 (an area with significant historical intercepts, including 4.9 metres of 11.4% zinc and 1.4% lead) - For the remainder of 2021, management expect to be able to drill approximately 5,000 metres (fully funded) with the majority of this focussed on Carrickittle
- A trial induced polarization ("IP") survey was recently completed over Zones 1 and 2 and appears to respond in areas of known mineralization
- To confirm the above preliminary results, a more fulsome IP survey is currently underway, focussing on Zones 1-4 (to be completed in the next few weeks)
- If successful, IP surveys could significantly help exploration efforts focussed on searching for additional massive sulphide at Carrickittle
Highlights – Other:
- To keep core ground in good standing and continue building a pipeline of exciting targets, exploration is continuing on other prospects within the Company's 100%-interest PG West project
- This work mainly consists of small drill programs at the Gortdrum (copper-silver), Denison (copper-silver), Croom (zinc-lead-silver) and Ballywire (zinc-lead-silver) prospects
"We are impressed by the strength of the high-grade silver zone at Carrickittle and look forward to the start of the next phase of drilling at Zone 2," stated
Next Steps at Carrickittle
As previously announced (see news release dated
Further investigation is underway, consisting of thin section (microscope) analysis aimed at confirming the mineral species hosting silver. To management's knowledge, the above narrow interval represents one of the highest silver grades ever attained in
The upcoming follow-up drilling at Carrickittle will focus on Zone 2 and is expected to start
Over the last few weeks, a trial induced polarization ("IP") survey was completed over Zones 1 and 2 at Carrickittle. This trial appears to have detected massive sulphides at each zone (yielding chargeability-high anomalies coincident with both known mineralization and mineralization projected along strike). To confirm and build upon the above preliminary results, a more comprehensive IP survey is currently underway, focussing on Zones 1-4 (totalling 2,400 metres within four lines spaced 50 metres apart and with 25-metre station spacing; to be completed in the next few weeks). IP surveys could significantly help exploration efforts aimed at discovering more massive sulphide at Carrickittle.
Other Exploration
To keep core ground in good standing and continue building a pipeline of exciting targets, exploration is ongoing on the Company's other prospects (see Exhibit 1) within the 100%-interest PG West project. The work sequence is expected to be as follows:
- Gortdrum (copper-silver prospect) - two short holes (totalling 375 metres) have recently been drilled along a major fault which extends for 3-kilometres beyond the historic Gortdrum mine (results to be announced once laboratory results are ready over the coming few weeks)
- Denison (copper-silver prospect) – approx. 300 meters of drilling is expected, starting in March
- Croom (zinc prospect) – two short holes (totalling 300 metres) are expected, starting in March
- Ballywire (a prospect with similarities to Carrickittle) - a hole (250 metres) is planned during early Q2
Importantly, the above projected exploration activities are subject to Covid-19 restrictions in
In line with the Company's more-focussed exploration strategy announced on
Exhibit 1. Regional Map of
Notes to Exhibit 1: (a) Pallas Green MRE is owned by Glencore and is reported in accordance with JORC Code on Mineral Resources and Reserves; (b) the historic estimate at Denison was reported by
Qualified Person
Technical information in this news release has been approved by
About
Neither
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
SOURCE
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