(via TheNewswire)
KZ-21-05 intersects 3.0 meters of 39.2 g/t Gold and 80.4 g/t Silver in Southern BC, ~15 km from
Copper Mountain Mine
Kodiak Zone is open in all directions, with a 1.5 km high-grade soil anomaly still open to the east
Strong potential for additional discoveries under post-mineral volcanics spanning a 2.5-km distance between the Kodiak and Main Zones
Quartz-sulphide veining intersected in all drill holes at
Kodiak Zone
Only 1/3 of the 600-meter-wide
Kodiak Zone has been tested
The mineralization at
Placer Mountain has strong geological similarities to Gold Mountain Mining’s Elk Deposit 80 km to the north
Multiple gold occurrences found in just a single field season at
Placer Mountain ; additional ground staked to the north along prospective geological structure with expanded drilling planned for 2022
Table1 - Highlight Intercept from Rushed Drill Hole KZ-21-05
Hole ID | From (m) | To (m) | Interval (m)* | Au (g/t) | Ag (g/t) |
KZ-21-05 | 27.00 | 30.00 | 3.0 | 39.2 | 80.4 |
incl. | 27.00 | 28.00 | 1.0 | 27.4 | 62 |
incl. | 28.00 | 29.00 | 1.0 | 87.5 | 169 |
incl. | 29.00 | 30.00 | 1.0 | 2.8 | 10.1 |
*The intervals reported in these tables represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals. All gold values are uncut.
CEO Comment
We are very pleased with the progress made on the project since the first ever hole drilled in December of 2020. In just a single year, our drilling has now expanded the
Deposit Model
The Company has noted strong similarities to the drilling at Gold Mountain Mining Corp’s. Elk Deposit1, which recently began commercial production on an orogenic gold system just 76 km to the north of
Figure 1 – Cross-Section of KZ-21-05 at
Click Image To View Full Size
Figure 2 – Plan View Showing Location of KZ-21-05 at
Click Image To View Full Size
The Company has staked additional ground along this important geological structure, adding several km of untested strike length to the north of the
2022 Exploration Program
The Company is currently planning it’s 2022 exploration program for
Qualified Person
Dr.
QA/QC Procedures
Drill core samples were prepared and analyzed at
About Damara
ON BEHALF OF THE BOARD OF DIRECTORS OF DAMARA
“Larry Nagy”
For additional information visit Damara’s website atwww.damaragoldcorp.comor contact:
Chief Executive Officer
Ph: (250-717-1840)
Disclaimer for Forward-Looking Information
This news release contains statements that constitute "forward-looking Information",as such term is used in applicable Canadian securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverseindustry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF DAMARA AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE DAMARA MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Neither the
1This news release contains information about adjacent properties on which Damara has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties
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