Highlights:
- The Company received the non-rush portions of drill hole 1274-24-293 & 294, which intersected the following complete intervals:
- #293 - 1.1% CuEq over 9.5 metres beginning at 63 metres depth;
- #293 - 2.6% CuEq over 37.0 metres beginning at 106 metres depth, including 6.3% CuEq over 10.6 metres;
- #294 - 1.5% CuEq over 11.9 metres beginning at 70.4 metres depth;
- #294 - 2.5% CuEq over 61.3 metres beginning at 128.6 metres depth, including 11.4% CuEq over 10.6 metres;
- The Company has added 3 holes to follow up on #294 to test the expansion potential down-dip and along strike;
- The results from #293 and #294 support the occurrence of lower grades outside of the high-grade core of the deposit, which adds to the surface open-pit potential of the B26 Deposit;
- The Company has identified low-grade near-surface targets starting at or close to bedrock in each of the 4 holes reported. The results from #295 and #296 are in line with the Company's objective of testing the north bedrock interface to complete the model to assess the potential updated pit-shell model;
- Maiden program has been expanded to drill a minimum of 12,000 metres, with 8,839 metres completed across 29 holes to date.
Table 1: Significant Intercepts | ||||||||
Hole ID | From (m) | To (m) | Length (m) | CuEq (%) | Cu (%) | Au (g/t) | Ag (g/t) | Zn (%) |
1274-24-293 | 63 | 72.5 | 9.5 | 1.1 | 0.9 | 0.18 | 2.85 | 0.05 |
And | 83.8 | 85.3 | 1.5 | 5.4 | 4.7 | 0.84 | 12.33 | 0.25 |
And | 105.7 | 142.7 | 37.0 | 2.6 | 2.3 | 0.45 | 4.7 | 0.02 |
Including | 120.4 | 131 | 10.6 | 6.3 | 5.4 | 1.28 | 9.6 | 0.4 |
1274-24-294 | 70.4 | 82.2 | 11.9 | 1.5 | 1.3 | 0.26 | 6.4 | 0.4 |
And | 95.3 | 99.2 | 3.9 | 0.70 | 0.5 | 0.26 | 2.8 | 0.02 |
And | 128.6 | 189.9 | 61.3 | 2.5 | 1.9 | 0.89 | 4.1 | 0.3 |
Including | 136.2 | 146.8 | 10.6 | 11.4 | 8.1 | 4.8 | 13.1 | 0.4 |
1274-24-295 | 41 | 57.15 | 16.15 | 0.52 | 0.42 | 0.12 | 2.14 | 0.2 |
And | 69.1 | 99.3 | 30.2 | 0.52 | 0.42 | 0.06 | 1.76 | 0.01 |
And | 162.3 | 165.8 | 3.5 | 1.22 | 1.1 | 0.05 | 4.73 | 0.1 |
1274-24-296 | 51.6 | 68 | 16.4 | 0.58 | 0.48 | 0.08 | 1.86 | 0.1 |
Including | 53.8 | 57.3 | 3.5 | 1.62 | 1.37 | 0.24 | 4.29 | 0.2 |
Note 1: The intercepts above are not necessarily representative of the true width of mineralization. The local interpretation indicates core length corresponding to Note 2: Copper equivalent values calculated using metal prices of Note 3: Intervals were calculated using a cut grade of 0.3% Cu Eq and internal dilution making less than 5 meters. |
Drillholes 1274-24-293 and 1274-24-294 were designed to test the geometry and validate (infill & extension) of mineralization in historical hole B26-40 at the intersection with historical hole 1274-16-224 (3.05% CuEq over a length of 48.1 metres) on section 652900E. Hole 1274-16-224 was drilled to the south at 180°. Hole 1274-24-293 was planned to reproduce historical hole B26-40 and extend the hole to cover the entire mineralized structure to the north. Hole 1274-24-294 is an undercut, drilled at about 20 metres down-dip of 1274-24-293 in a 70-metre gap in the model.
Hole 1274-24-294 illustrates a variant of the same type of mineralization with a higher fraction of quartz veining showing different episode of mineralization. This environment can be related to gold enrichment observed from 136.2 to 146.3 metres (4.8 g/t Au and 8.1% Cu over 10.6 metres).
Overall, the style of mineralization observed in the two holes close together could follow a braided deformation pattern which can explain part of the grade variations observed. On the section drilled, the interlacing of veins creates a lens structure that can be followed from hole to hole 150 metres vertically.
Holes 1274-24-295 & 1274-24-296 were designed to intercept the copper-bearing structure up-dip close to surface on section 653150 where there was no historical drilling to cover the surface extension of the
Drilling continues at the project with 8,839 metres completed to date amongst 29 holes with three rigs currently active. Within the additional holes completed to date, the Company continues to see positive visuals in both the infill and extension targets.
Table 2: Drill Hole Information | |||||||
Drill hole | Target | UTM | UTM | Elevation | Azimuth | Dip | Length (m) |
1274-24-293 | B26 Main | 652950 | 5513385 | 276 | 360 | -52 | 291 |
1274-24-294 | B26 Main | 652950 | 5513385 | 276 | 360 | -56 | 310 |
1274-24-295 | B26 Main | 653150 | 5513380 | 276 | 360 | -57 | 312 |
1274-24-296 | B26 Main | 653150 | 5513380 | 276 | 360 | -45 | 222 |
The core logging program is run by Explo-Logik in
Samples preparation duplicates, varied standards, and blanks are inserted into the sample stream.
In the 2018 Resource estimate, SGS recommended the QAQC protocol to explain the replicability for the four metals (Au-Cu-Ag-Zn). The Company has set up for this program a series of assaying protocols with the objective to control QAQC issues from the beginning of the project. As a result, samples are crushed finer with 95% of particles passing 1.7 mm and a large split of 1 kg is pulverized down to 106 µm (150 mesh). Other measures put in place include the automatic re-assaying of gold results above 3 g/t by metallic screening and the use of sodium peroxide fusion in mineralized intervals interval corresponding to a target grade above 0.5% Cu.
Information contained in this press release was reviewed and approved by
ON BEHALF OF THE BOARD
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Source 1: Fayard, Q, Mercier-Langevin, P., Wodicka, N., Daigneault, R., & Perreault, S. (2020). The |
Source 2: Rapport Technique NI 43-101 Estimation des Ressources Projet B26, |
Source 3: Fayard, Q. (2020). CONTRÔLES VOLCANIQUES, HYDROTHERMAUX ET STRUCTURAUX SUR LA NATURE ET LA DISTRIBUTION DES MÉTAUX USUELS ET PRÉCIEUX DANS LES ZONES MINÉRALISÉES DU PROJET B26, COMPLEXE VOLCANIQUE DE BROUILLAN, ABITIBI, |
Copper Equivalent values were calculated using metal prices of
This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the
SOURCE
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