DAMARA GOLD CORP. (TSX-V: DMR) ('Damara' or the 'Company') is very pleased to announce it has confirmed a new high-grade gold zone at its Kodiak Zone prospect, located on the Company's Placer Mountain project in Southern BC.
The Company rushed the processing and assays for hole KZ-21-05 which intersected 3.0 meters of 39.2 g/t Gold and 80.4 g/t Silver within a new orogenic-style vein system discovered through reconnaissance soil sampling and trenching in 2021. The true width of the vein is unknown at this time, due to the broken and weathered nature of the recovered core, but high angle fractures suggest that the reported interval may be near to true width. The new gold system is characterized by quartz-sulphide veins hosted within a clay-sericite altered intrusive unit, near the contact with Nicola Group volcanic and sedimentary rocks. Quartz-sulphide veining was intersected in all eight holes, revealing several parallel near surface veins for which assays are pending
CEO Comment
Larry Nagy, CEO, commented 'Our maiden drill program has now confirmed the presence of a second potentially large orogenic gold system at Placer Mountain. The Kodiak Zone appears even more robust than the Main Zone, delivering the highest-grade gold ever intersected in drilling on the project. The new system was discovered by systematic soil sampling and trenching along strike of the Main Zone, and our maiden drill program has now verified the high-grade nature of the veins trenched on surface. Our drilling has intersected significant quartz-sulphide veining in all holes, revealing a robust mineralized system, of which we have only just scratched the surface. We look forward to releasing assay results for the remaining drill holes, for which we expect assays very soon. 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 Main Zone and unveiled a major new gold occurrence at the Kodiak Zone. We expect 2022 to be an even more momentous year for the Company as we continue building on Southern BC's newest orogenic gold discovery
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 Placer Mountain. The Elk Gold Deposit, which is defined by approximately 50,000 meters of drilling in 973 drill holes, is centered along the contact of Nicola Group volcanic and sedimentary rocks with a Jurassic aged intrusion. Both the Main Zone and the newly discovered Kodiak Zone are both situated along a similar geological contact at Placer Mountain, which represents an important structural control and guide to the Company's future exploration
2022 Exploration Program
The Company is currently planning it's 2022 exploration program for Placer Mountain, which will be focused on extending the orogenic gold system at depth and along strike at both the Main Zone and the Kodiak Zone. The program will also involve further soil sampling along the important Nicola Group-Jurassic Intrusive contact; a newly recognized structural control on emplacement of vein systems. Up to 20 km of untested strike will be sampled to the north of the Kodiak Zone, south of the Main Zone and between the two zones, to explore for additional high-grade orogenic gold veins.
About Damara
Damara Gold Corp. is a TSX Venture listed Canadian public company with a Board of Directors seasoned in the mineral exploration industry with extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored gold properties worldwide
Contact:
Tel: 250-717-1840
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.
DAMARA GOLD CORP. 
