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HIGHLIGHTS
- STDD001 was drilled at a high angle (70-degree dip) perpendicular to the main Stealth Fault to a depth of 164m.
- STDD002 was drilled on a sub vertical dip (83 degrees) to a total depth of 110m.
- Both holes intersected the two mineralised detachment fault zones as anticipated.
- STDD001 intersected a broad zone of55.8m at 0.7 g/t gold from 18.3m.
- Including 23.2m at 1.01 g/t Au from 18.3m.
- And 16.8m at 0.5 g/t Au from 133.5m.
- STDD002 intersected36.4m at 0.56 g/t Au from 74.4m.
- Including9.1m at 0.97 g/t Au from 91.1m.
STEALTH DEPOSIT
The two diamond drill holes were drilled in the southern extent of the Stealth Deposit. The holes were primarily designed to confirm and add to the structural information available through historical drilling by the previous owners in the 1990’s. See Table 1 for hole details.
Both holes drilled by the Company delivered encouraging results, confirming the mineral structures and gold mineralization present at the Stealth Deposit, which make it an exciting target that warrants high-priority drilling in the upcoming exploration program.
This drilling provides strong evidence that the two mineralised detachment zones are intact at the Stealth Deposit and occur at a similar elevation to the mineralised detachments at the Cyclopic Deposit (see Map 1).
A portion of the gold mineralisation intersected at the Stealth Deposit occurs in weakly-altered basement gneiss that has a fine hematite dusting. This style of gold mineralisation is very exciting because it suggests that the basement gneiss unit may be preferentially mineralised rather than associated with hydrothermal alteration. Brecciation was also noted that may be related to faulting. Further drilling is planned for later in fall 2021 to test both the strike and depth extensions of the Stealth Deposit. Map 2 below shows the location of the Stealth Deposit in relation to the overall Cyclopic Deposit and other mineralised targets at the
Map 1: Stealth Gold Deposit Historical and Gold Basin (GXX) Hole Locations
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Map 2: Gold Basin Regional Features and Gold Deposits
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Table 1: Drill hole Information and Gold Intersections
-------------------------------------------------------------------------- |COLLAR INFORMATION |GOLD GRADE | |------------------------------------------------------------------------| |Hole ID |Easting|Northern|Azimuth|Dip |Depth |From |To m |Width|Au | | |(UTM) |(UTM |(GN) | |m |m | | |ppm | |------------------------------------------------------------------------| |STDD21-001|747462 |3962877 |29 |-68.10|164.00|18.3 |74.1 |55.8 |0.70| |------------------------------------------------------------------------| | | | | | | |18.3 |41.5 |23.2 |1.01| |------------------------------------------------------------------------| | | | | | | |133.5|150.3|16.8 |0.5 | |------------------------------------------------------------------------| |STDD21-002|747468 |3962930 |80 |-83.00|110.90|74.4 |110.9|36.5 |0.56| |------------------------------------------------------------------------| | | | | | | |91.1 |100.3|9.2 |0.97| --------------------------------------------------------------------------
QUALITY CONTROL AND QUALITY ASSURANCE
The Company drilled the two diamond drill holes using HQ Core. The core was transported to a cutting facility in
Coarse blank material, standard reference pulps are inserted into the sample stream. Three standard reference pulps at three different gold grades (0.154 ppm, 0.778ppm, and 2.58ppm) are being used. One 1.52m drill interval in every four intervals is weighed in order to monitor recovery.
Samples were transported to
Upon arrival in
QUALIFIED PERSON
ABOUT
Gold Basin is a proud member of
On Behalf of the Board of Directors
Chief Executive Officer and Director
For further information, please contact:
Phone: 1-778-650-5457
FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the Canadian Securities Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest Management'sDiscussion and Analysis and filed with certain securities commissions in
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
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