The significant results of this release are: Hole ELM21-086 24.04 g/t Au over 18.0 m (from 254 m to 272 m), incl. 38.7 g/t Au over 9.0 m, and 44.4 g/t Au over 1.0 m (from 307.7 m to 308.8 m)
Hole ELM21-073 1.44 g/t Au over 66.0 m (from 407.3 m to 473.3 m), incl. 3.09 g/t Au over 10.5 m
HIGHLIGHTS
These new results further confirm the robustness and strong growth potential of the Patwon gold zone. Patwon remains wide open below 450 metres, with a possible gold grade increase with depth.
The delineation drilling at Patwon on systematic 50-metre centres is designed to expand the zone. No infill drilling is being conducted at this stage.
The mineralized body is currently defined over a strike length of 500 metres and a minimum depth of 450 metres, where the mineralized system remains robust and open. The average estimated true width is about 35 metres based on previously released results from 44 drill holes. True widths can reach up to 80 metres.
The gold zone shows an impressive central core extending from surface to a minimum depth of 450 metres, with an estimated true width of 50 metres and a grade x thickness factor ranging from 50 to 412 (based on true widths). This core zone is spatially correlated with a vertically dipping felsic intrusion, indicating an excellent possibility for a kilometre-scale vertical extent of the Patwon gold zone.
The Elmer Property comprises 515 claims covering 271.3 km2 over a 35-kilometre strike length. The Property is 285 kilometres north of the town of
Drilling Contract and Analytical Protocols
The drilling contract was awarded to
About
The Company uses a pioneering approach to big data analytics (the proprietary AZtechMineTM expert system), enhanced by extensive exploration know-how.
Cautionary note regarding forward-looking statements
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events related to the drilling results at the Elmer Property. To the extent that any statements in this press release contain information that is not historical, the statements are essentially forward-looking and are often identified by words such as 'consider', 'anticipate', 'expect', 'estimate', 'intend', 'project', 'plan', 'potential', 'suggest' and 'believe'. The forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There are many factors that could cause such differences, particularly volatility and sensitivity to market metal prices, impact of change in foreign currency exchange rates and interest rates, imprecision in reserve estimates, recoveries of gold and other metals, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, community and non-governmental organization actions, changes in government regulations and policies, including laws and policies, global outbreaks of infectious diseases, including COVID-19, and failure to obtain necessary permits and approvals from government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required to do so by applicable securities laws. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Report filed on SEDAR for a fuller understanding of the risks and uncertainties that affect the Company's business.
Contact:
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