Our Q4/Q1-2021/22 reverse circulation drill program at Slumber has been completed. Twelve (12) reverse circulation drill holes totaling approximately 2,350 meters (7,710 feet) have been drilled and sampled. Results have been reported for the first five holes and the remaining seven holes are being submitted for assay. These final holes encountered longer thicknesses of silicified, oxide mineralization, distributed over an area in excess of 900 meters by 500+ meters, with drill-site RC chip logging having recorded thicknesses of 100-150 meters or more of mineralized material. The last two (deepest) holes revealed mineralization to depths of nearly 300 meters. The Company reports that Slumber has now been demonstrated to host a low-grade bulk-tonnage, oxide gold system, which remains open in multiple directions. Drilling is still very wide-spaced over this large area, with reasonable expectations of structural and stratigraphically favorable zones of higher grades yet to be encountered.
'I am very pleased that the 'Low-Resistivity Model' has confirmed that alteration and related gold mineralization correlate extremely well with the low resistivity zones. All the reverse circulation holes drilled into the eastern low-resistivity extension have intercepted the same type of silicification and oxidation, suggesting that width of the Slumber gold system now appears to exceed half a kilometer.
The Company plans further work at Slumber to include both reverse-circulation and diamond core drilling. A Plan of Operations is envisaged to allow for the larger program.
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Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's planned exploration activities, that the Company's expectations of encountering structural and stratigraphically favorable zones of higher grades are reasonable, that the drilling suggests the width of the Slumber gold system appears to exceed half a kilometer and that there is excellent potential to discover a million+ ounce gold deposit at Slumber are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, the lack of continuity of mineralization, the extent to which mineralized structures extend on to the Company's Projects and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
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