On
The gold occurrence is hosted in a high silica alteration zone that includes massive, fine grained quartz, quartz vein stockworks, and breccias with disseminated pyrite and locally hematite in fractures. The silica alteration zone appears to be a secondary, hydrothermal replacement of a layered sedimentary rock such as siltstone or argillite which is in contact with a large, northwest-trending magnetic mafic intrusion. The mafic intrusion is not well exposed, but a gabbroic boulder derived from the intrusion was discovered that is also mineralized with gold with grab samples containing up to 2.013 grams gold per tonne.
The Carbonara gold zone is a completely new discovery located 20 kilometres from the Merian gold mine of
About the Nassau gold project
The Company's 70%-owned Nassau gold project is located 20 kilometres south of
Summary for non-technical readers
The Carbonara gold zone is a new gold discovery that is contained in a quartz vein-like body that is at least 1,600 metres long and several metres wide and appears to be the source of extensive artisanal gold mining in the area. The sampling results indicate that the gold zone also consists of a large, northwest-trending magnetic intrusion that is also mineralized with gold. The gold zone is mostly concealed by jungle, but the gold grade of the new zone based on three widely spaced outcrops is up to 4.52 grams gold per tonne. This gold zone has never been evaluated by diamond drilling.
About
79North, is led by a team with extensive mineral exploration expertise and a track record of discoveries and exits in
Contact:
Tel: (416) 786-6348
Email: jon@79north.ca
Cautionary Note Regarding Forward-Looking Information
This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation, including information with respect to the exploration program at the Nassau gold project. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release.
Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties, including related to Covid-19 and the delay or failure to receive board, shareholder, or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, 79North assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
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