The Corporation is reporting results from three holes drilled on the Alpha property.
Drilling Highlights: 12.4 g/t Au over 1.9 metres in hole O3AL-21-380 at a vertical depth of 53 metres in the Kappa zone; 12.0 g/t Au over 8.3 metres and 8.1 g/t Au over 2.0 metres and 35.9 g/t Au over 1.1 metres in hole O3AL-21-388 from a vertical depth of 625 metres to 663 metres in the Kappa zone which remains open at depth and laterally.
28.1 g/t Au over 0.9 metres in hole O3AL-21-391 at a vertical depth of 638 metres in the Kappa zone which remains open at depth and laterally.
The intercepts in holes O3AL-21-388 and O3AL-21-391 are spaced 100 metres horizontally. These intercepts are following up on a significant intercept obtained 100 metres above in hole O3AL-21-338, which returned 4.4 g/t Au over 4.1 metres. This zone remains open to the east and at depth while partially open to the west and above. The Kappa zone offers clear potential to grow and therefore warrants further drilling. Gold mineralization at Kappa is located at the contacts with an intermediate porphyritic dyke and characterized by quartz-calcite-epidote-pyrite-chalcopyrite veins and veinlets within a wide (>20 metres) biotite-epidote alteration envelope. Unlike Bulldog, the Kappa zone shows a clear association with Ag (10 g/t) and Cu (0.1 %). The Kappa structure occurs about 150 metres north of the Bulldog zone and was identified while stepping back to drill Bulldog at depth.
The shallow intercept in hole O3AL-21-380 is located 600 metres east of hole O3AL-21-388 and hosted within a thick dyke. The relationship with the other intercepts listed above has yet to be understood. This near-surface intercept is open to the east and at depth while partially open to the west.
Based on these promising results,
Drilling Update
The Corporation has drilled 118,951 metres in 2021 on its
Marban -
The Marban project is in the heart of the
Activity at Marban in 2022 will be focused on Marban Engineering, focused on the completion of the Marban PFS and future economic studies, and
A PEA was completed on the project in 2020, and a Pre-Feasibility Study ('PFS') is currently underway and due to be completed in 2022 as the next step to advance the project to production. Additionally, the Corporation has advanced baseline studies on the Marban project, held meetings with key stakeholders, and hosted its first community information meeting for nearby residents.
Alpha - Advanced Exploration
The Alpha property is located eight kilometres east of
In 2022, the 33,000 metres of drilling at Alpha will be focused on expanding the known deposits at Kappa and Bulldog, following up on sigma type veins in the Omega sector and resource conversion of the Akasaba deposit. A 54,121 metres program was executed in 2021 which included grassroots exploration, deposit delineation, and resource expansion.
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