Corporate and Operational Highlights
- 2021 drill program completed under budget for 27 drill holes comprising 10,826 m
- Results on 8 of 27 holes released to-date
- Deepest mineralization intercepted on the
Destiny Project at 882 m
- Healthy treasury to allow for operating capital and further exploration work
Empirical Project work program completed- Appointment of
Stephen Sulis as Chief Financial Officer andRose Zanic as Director - Intention to undertake a normal course issuer bid announced
“The Company is in a strong financial position to continue to advance its exploration projects. In 2021 the Company focused on completing a 27-hole drill program on its flagship
About the Recently Completed 2021 Drilling Program at the
The Company has released results of 8 holes comprising approximately 3,597 m of 10,826 m from 27 recently completed drill holes. Turn-around times at the laboratory have been slower than anticipated with QA/QC reruns taking place adding further delay to an existing backlog of work. The Company looks forward to providing updates as additional results are received and as we continue to interpret these results as we evaluate bulk tonnage and high-grade models for the
With the exception of DES21-158, which was abandoned and restarted as DES21-159, all 2021 drilling on the
Drilling under the 2021 program concentrated on infilling historic drilling in the DAC and GAP Zones, and confirmation of historic drilling which identified mineralization in these areas.
Table 1 Highlights from the assay results previously released on
Drillhole | From (m) | To (m) | Width* (m) | Grade (g/t) |
DES21-156 | 329.15 | 334.40 | 5.25 | 3.68 |
including | 329.70 | 331.80 | 2.10 | 18.64 |
and | 331.35 | 331.80 | 0.45 | 32.67 |
DES21-157 | 230.50 | 234.95 | 4.45 | 3.79 |
including | 230.50 | 231.30 | 0.80 | 20.36 |
DES21-160 | 388.00 | 396.00 | 8.00 | 1.57 |
including | 391.00 | 392.00 | 1.00 | 4.99 |
including | 394.00 | 395.00 | 1.00 | 3.68 |
DES21-160 | 435.45 | 436.70 | 1.25 | 4.88 |
DES21-161 | 277.50 | 280.15 | 2.65 | 6.97 |
including | 278.05 | 279.00 | 0.95 | 15.80 |
DES21-162 | 304.00 | 325.00 | 21.00 | 0.98 |
including | 319.00 | 321.30 | 2.30 | 4.48 |
DES21-168 | 775.00 | 803.00 | 28 | 0.24 |
and | 882.00 | 889.65 | 7.65 | 0.46 |
including | 882.90 | 886.50 | 4.15 | 0.82 |
including | 885.60 | 886.55 | 0.95 | 2.43 |
*Assay results are reported in core length. True width is estimated to be between 80% and 97%. Average recovery for these holes is 98.99%
Corporate Developments
Since entering into an agreement to acquire 100% of the
The proceeds of the offerings were intended for the required payments and exploration expenditures in connection with the Company’s
The Company is also pleased to have announced several management and board changes recently including the appointment of
Ms.
Mr.
On
Additionally, the Company has moved its head office to Suite 1680
On
The Company currently has 28,142,592 common shares issued and outstanding with current directors and management owning approximately 9% of the Company’s shares.
Empirical Project Exploration Program
On
This work has been completed and the Company looks forward to providing further updates as analytical results from samples collected during this program are received.
About the Company’s
As previously noted, Clarity has recently completed a 10,826 m drill campaign, of which results from 8 holes have been reported, with the balance of 19 drill hole samples currently being processed and analyzed by Bureau Veritas. The Company looks forward to reporting on these results shortly.
In 2021, the Company was also successful in acquiring strategic surface rights of two lots for a resulting total area of approximately 82 hectares over a key portion of the
Key aspects of the
- Option to acquire 100% ownership.
- Located in the historic, mineral rich
Abitibi Greenstone Belt . - Gold mineralization occurs in high-grade quartz veins within shear zones starting at 15 m below surface.
- Historic Drilling results include:
- 167 g/t Au over 1 m (from 221.7 m)
- 6.15 g/t Au over 23.6 m (from 117.2 m)
- 19.49 g/t Au over 2.7 m (from 166.0 m)
- The Historical Estimate at the
DAC Zone is open along strike with only coarse drilling denoting high grade intercepts outside of the 2011 Historical Estimate area showing expansion potential along strike from theDAC Zone over approximately 2.5 km to theDarla Zone . - Excellent infrastructure – ~75 km NNE of Val d’Or with road access.
- Drilling on the property to date exceeds 60,000 m
- The Company owns 100% of two private properties Tyber and
Gretna green
The 5,013-ha project includes the
The current exploration potential is based on decades of past work on the
Previous work on the
• 172 diamond drill holes comprising approximately 50,400 m
• Reconnaissance till sampling from 11 Sonic drill holes
• 2,430 MMI geochemical samples
• 982 line km of airborne VTEM surveys
• 171 line km of ground magnetics surveys
• 128 line km of IP
About the
The Company’s gold-copper-molybdenum porphyry project, the
Between 1981 – 1986, six out of fifteen diamond drill holes intersected gold mineralization, including hole DD81-4 which assayed 3.67 g/t gold over 21 m from 36m. Previous exploration focused on molybdenite without an understanding or aim of targeting a larger porphyry system. For more information on the
There are multiple copper showings in the Southeast portion of the project, including the Rickhill Showing where six surface rock samples collected in 1959 averaged 0.95% copper over 12.9 meters (Minfile 092INW022). Elevated copper in soil samples indicate that this zone of copper mineralization may be extended up to a total of 30 m (Skerl, 1959). In 1970, 538 soils were collected with copper intensities ranging between 6 ppm to 212 ppm (Assessment report 02530).
Historic work in the Southwest identified two molybdenum showings namely, the
The QP (as defined below) has not verified the results of the historic exploration and sampling on the new claims added to the Empirical Project’s property package, additional sampling will be required to verify the data.
Qualified Person
Mr.
About Clarity
ON BEHALF OF THE BOARD
“
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: info@claritygoldcorp.com
Website: claritygoldcorp.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: that the Company continues to advance its project portfolio and deliver results on its flagship
The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including: that the drilling may not go as planned or start when expected; that the Company may experience difficulties in drilling and carrying out related work; changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; the risk that the Company may lose access to any of its properties; the risks that the Company may not find any minerals in commercially feasible quantities; that the Company may not raise enough money to fund its exploration plans; uncertainty of development plans and cost estimates; commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations; the state of the capital markets; uncertainty in the measurement of mineral reserves and resource estimates; the Company’s ability to attract and retain qualified personnel and management; potential labour unrest; uncertainty as to reclamation and closure requirements for its mineral properties; unpredictable risks and hazards related to the exploration and development and operation of a mine or mineral property that are beyond the Company’s control; and other risks and uncertainties identified under the heading “Risk Factors” in the Company’s continuous disclosure documents filed on SEDAR. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the Canadian Securities Exchange (operated by
Source:
2021 GlobeNewswire, Inc., source