VANCOUVER - Element79 Gold Corp. (CSE: ELEM) (FSE: 7YS) ('Element79 Gold', the 'Company') is pleased to provide an update on its ongoing progress within the Abitibi Subprovince targeting bulk tonnage style gold mineralization at its Dale Gold Property in Ontario, Canada.
Mobilization has begun for Phase 1, focused on following up on historic prospecting which has returned up to 3.82 g/t gold.(1)
Work Program Leadership and Team: A Long History of Mining
Element79 Gold is pleased to have the experienced leadership of its director, Mr. Neil Pettigrew, M.Sc, P.Geo., and his team at Fladgate Exploration Consulting Corporation ('Fladgate') managing the Phase 1 program on the Dale Gold Property. The Fladgate team has historically worked with clients such as Barrick Gold Corporation ('Barrick Gold') (NYSE listed) and Newmont Corporation ('Newmont') (NYSE listed) and several names which have gone on to be acquired including Goldcorp, Inc. (acquired by Newmont), PC Gold Inc. (acquired by First Mining), and Placer Dome (acquired by Barrick Gold).
Surrounding Area Hosts Some of the World's Largest Gold Deposits
The Dale Property is a highly prospective early-stage gold project located in the Swazye greenstone belt, which is turn is part of the Abitibi Subprovince which hosts some of the world's largest gold deposits, e.g. the Timmins camp which has produced over 70 million ounces of gold. The Swazye greenstone belt is best known for hosting IamGold's Cote Lake deposit which contains 10.2 million ounces Measured and Indicated and 3.8 million ounces Inferred(2), and is located 50 km southeast of the Dale Property. The Cote Lake project received a Positive Construction Decision in July 2020(3) and plans to achieve commercial production in 2023.
Strong Gold Market Outlook Presents Prime M&A Environment
Element79 Gold believes market conditions are ripe for value-driven gold acquisitions and is actively reviewing several advanced project acquisition opportunities. The Company expects to create significant additional value for its investors both immediately and over the long term as a result of its growing M&A pipeline. In fact, Goldman Sachs' latest research note forecast gold at USD $2000/oz in 3, 6, and 12-month horizons.(4)
Element79 Gold Website Update: Snowbird High-Grade Gold Project
The Company would like to bring attention to the first round of update content on its corporate website, www.Element79.Gold and www.Element79Gold.com highlighting its latest acquisition announcement, The Snowbird High-Grade Gold Project which is a structurally controlled mesothermal deposit with geology that is analogous to the famed Mother Lode District of California and the Bralorne Mine Complex of British Columbia. Unlike shallow epithermal deposits, mesothermal deposits can have significant depth extent measured in kilometers. The gold system at the Snowbird High-Grade Gold Project has only been tested to a maximum depth of 400 meters (one hole) with the vast majority of the drilling being shallower than 200 meters. The company is busy compiling data and generating drill targets. Upon completion of its acquisition, the company intends to provide an update of its Work Program plans.
About Element79 Gold
Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals. The Company has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township.
Contact:
James C. Tworek
Tel: +1 (604) 200-3608
Email: investors@element79gold.com
ELEMENT79 GOLD CORP. 
