The Company holds an Option to earn 100% interest in the Property, which is located approximately 40 km southwest of
A total of 2,063.2 m (6,769 ft) over ten (10) holes were completed as part of the program, which is now complete; crews have demobilized from site. The drill program targeted the
Highlights include: 13.02 g/t Au and 46.6 g/t Ag over 7.4 m (BG21-004)
3.23 g/t Au over 8.0 m, including 40 g/t Au over 0.57 m (BG21-001)
1.39 g/t Au over 14.1 m, including 5.48 g/t Au over 1.5 m (BG21-003A)
1.56 g/t Au over 3.1 m (BG21-002)
Company CEO
BG21-004 was the northernmost drill hole of the program; it returned the most well-mineralized intercept of the initial set of drill holes. The Breccia has been mapped over significant distance to the north where it is also coincident with a large Au-Sb in soil anomaly, as well as numerous surface rock gold occurrences. The results of BG21-004 (13.02 g/t Au and 46.6 g/t Ag over 7.4 m) suggest considerable potential to the north along the
The gold mineralized intercept in BG21-001 - 3.23 g/t Au and 7.1 g/t Ag over 8.0 m - consists of a medium grey, variable clast sized breccia unit with fracture-controlled iron oxides. Narrow and vuggy quartz veins, ranging in size from 1 to 3 cm, along with bladed/drusy quartz iron and hematite infilling are also present. The interval also included a 57 cm vuggy quartz vein with hematite and manganese oxide infill that returned 40 g/t Au and 88.2 g/t Ag. This vein interval highlights the potential for high-grade at depth, and is similar to that found at surface.
Drill hole BG21-003A returned 1.39 g/t Au over 14.1 m, including 5.48 g/t Au over 1.5 m, with a clast supported breccia characterized as gray to brown with vuggy scattered quartz clasts and is strongly silicified with patchy iron oxide flooding, frequent hematite stringers, as well as pervasive quartz veining to 0.75 m wide.
This first series of drill holes all collared in the targeted breccia unit, which had initially been interpreted to reside further to the east. Further, the drilling to date has confirmed that the target breccia unit which crosses the Property is considerably wider than previously reported and extends a significant distance to the west of where it has been historically mapped. Although comparable mineralization was intersected in BG21-001 to that historically documented, the extent of the breccia suggests that the locations of the historically reported drill holes and mineralized intersections may be situated further west compared to the collared locations of BG21-001 to 004.
The drill holes completed to date by the Company at the
The Company has recently completed its final drill hole (BG21-009) of the program and, in accordance with its permit obligations upon the commencement of re-occurring snowfall, has completed the required program reclamation and demobilization of the drill equipment and crews from site. All drill core samples have been received by the analytical lab.
The Controlled Source Audio-frequency Magnetotelluric (CSAMT) survey over the Property has also recently been completed and a final interpretation of the dataset and report are expected to be received in the next couple of weeks.
The Company has submitted a five-year Plan of Operations to the
About the Breccia Gold Property
The Breccia Gold Property consists of 102 claims covering approximately 1,836 acres (743 ha) within the
About the Company
Contact:
Tel: 1 (604) 365 6681
Email: swestcott@ophirgoldcorp.com
Cautionary Note
The information contained herein contains 'forward-looking statements' within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements.' Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risk related to the failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.
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