As part of recently completed field program, a total of 739 individual B-horizon soil samples were collected from five main grid areas (CM-240, Northeast, Emma 20, High-Grade,
2022 Exploration Program Results
Soil Sampling
A high-resolution soil sampling survey was completed across five main grid areas including Emma 20 (98 soil samples), High-Grade (176 soil samples), Northeast (122 soil samples), CM-240 (219 soil samples), and
Multiple Au-in-soil anomalies were identified during the 2022 program completed by Corcel. The most notable include:
1. A broadly north-south trending Au-in-soil anomaly at the
2. A roughly concentric Au-in-soil anomaly at the
3. A northwest-southeast trending Au-in-soil anomaly at the
Silt Sediment
A total of 37 silt samples were collected from drainages found within areas on the Property that have received minimal work historically. The most anomalous results were 408.9 and 180.5ppm Au which were collected from secondary streams which drain from the central part of the Property (one at the CM-240 zone and the other located between the CM-240 and Northeast Zones). There is no known outcrop mineralisation located immediately upslope of these two results. The results were collected near to the valley bottom with significant vegetative cover which has precluded effective prospecting or rock sampling upslope of these anomalous stream results.
Rock Sampling
A total of 16 rock grab and outcrop samples were collected during the 2022 program. The highest results returned 1.89 and 4.88g/t Au and were collected near to the
The Company is encouraged by the multiple Au-in-soil anomalies identified, as well as anomalous silt and rock sample results covering multiple different areas of the Property. Corcel's geologists will continue to work with the data in order to complete further analysis and interpretations of the results. Following this, the Company will determine next steps which may include a follow up phase II work program.
Note: The reader is cautioned that rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the Property.
Sampling Methodology
Samples were collected at 25-meter grid spacings with the use of dutch soil augers, making an effort to consistently sample the same B horizon material at each sample site. The B horizon typically occurs at a depth of approximately 10-30 centimeters on the Property and comprises silt-size material with elevated levels of clay and iron and manganese oxyhydroxides. Following collection, the samples were bagged, dried and shipped to
Sample Analysis and QAQC
All soil samples were prepped and analyzed at
Blind certified reference materials (CRMs) purchased from an independent commercial laboratory and duplicate samples were inserted by the Company at a frequency of 1 in every 25 samples. Duplicate samples were prepared in the field by homogenizing soil collected at a specific sample site and placing it in two soil sample bags in sequence.
Qualified Person
The technical contents of this news release were approved by Case Lewis,
About
The Company is a mineral exploration company engaged in the acquisition and exploration of mineral properties. Its initial objective is to focus on the exploration of the Peak Mineral Property located in
Contact:
Interim Chief Executive Officer
Tel: (416) 361-2827
Cautionary Statements
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
This news release contains statements and information that constitute 'forward-looking information' within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions and estimates of management with respect to the Company's exploration program at the Peak Property, which may ultimately prove incorrect. Forward-looking information herein includes statements relating to the Company's exploration program at the Peak Property.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to differ materially from the forward-looking information herein, including, but not limited to, challenges in collecting and analyzing exploration data, inaccurate assumptions concerning the exploration for and development of minerals, general risks associated with mineral exploration activities, volatility in commodity prices, changes in general economic conditions, and changes to corporate strategy and exploration plans. Accordingly, readers should not place undue reliance on any such forward-looking information. The Company does not undertake any obligation to update any forward-looking information herein, except as required by applicable securities legislation.
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