Ophir Gold Corp. announced sample assays results for the final five (5) holes of the 2021 drill program at the Company's Breccia Gold
Property (the "Property"). The drill program targeted the Breccia Gold Zone, which is situated within the larger Meadows Fault Zone. The Company holds an Option to earn 100% interest in the Property, which is located approximately 40 km southwest of Salmon, Idaho, and is accessible directly by road. A total of 2,063.2 m (6,769 ft) over ten (10) holes were completed as part of the program, with results for the first set of drill holes announced December 1st, 2021, highlighted by drill hole BG21-004 which returned 13.02 g/t Au and 46.6 g/t Ag over 7.4 m. Core sample assays for the remaining five (5) holes (BG21-005 through 009) of the 2021 drill program are reported herein, and highlights include: BG21-06: 1.68 g/t Au and 5.6 g/t Ag over 22.8 m, including, BG21-05: 0.02 g/t Au and 6,940 g/t Ag over 9.5 m. The strongest gold mineralization from the five (5) drill holes reported herein was encountered in BG21- 006 and included 3.05 g/t Au and 10.4 g/t Ag over 11.8 m, within a wider mineralized interval of 1.68 g/t Au and 5.6 g/t Ag over 22.8 m, starting at 108.3 m downhole. The interval is highlighted by three intensely altered and brecciated quartz veins, with abundant vugs and occurrences of bladed quartz, within a wider strongly iron-manganese oxide altered breccia unit. These three (3) veins ranged in core length thickness of 0.65 to 0.93 m, each assaying more than 10 g/t Au to a peak assay of 15.2 g/t Au (Table 1, Figure 1, Photos 1, and 2). Similar high-grade veins have been encountered in previously reported holes, highlighted by drill hole BG21-001 which included a 0.57 m interval of vuggy, hematite-manganese oxide altered quartz vein material assaying 40 g/t Au and 88.2 g/t Ag. Drill hole
BG21-006 was collared approximately 60 m southwest of BG21-001 and undercut it at a steeper angle of -80° compared to the more shallow -45° of BG21-001. Collectively, these veins highlight a key exploration target at the Property and have been sampled at surface as well as at depth, often returning significant precious metal mineralization in excess of 10 g/t Au. An increase in abundance and coalescence of the strongly mineralized quartz vein material at depth is a key exploration model target for the project. Strong precious metal mineralization has now been encountered in several of the 2021 program's drill holes highlighted by BG21-001, 003A, 004, 005, and 006, and collectively outline a surface area which exceeds 150 m x 200 m (Table 1 and Figure 1). Insufficient drilling has been completed to confirm the orientation or extent of the precious metal mineralization at Breccia; however, the drilling does confirm the high-grade potential of the area. Drill hole BG21-005 was the western most drill hole competed as part of the 2021 program. This drill hole encountered a significantly clay altered breccia over most of its length and was lost at a depth of 185.3 m due to poor drilling conditions, just short of the its intended target depth. The last two samples of the drill hole returned highly anomalous silver at 8.6 g/t Ag and 6,940 g/t Ag, respectively. However, sample recoveries were very poor within the final sample, which represented a 9.5 m interval (175.9 m to
185.3 m), where core recovery was less than 10%, and therefore the grade over the interval may not be representative. In any regard, the result is encouraging and indicates significant potential at depth. Deeping of BG21-005 will be a prime objective of future drilling at the Breccia Gold Zone. Most of the drill holes completed to date by the Company at the Breccia Gold Zone have encountered significant clay alteration and occurrences of bladed and vuggy quartz, as well as wide zones of intense and heavily altered breccia with common quartz veining and negligible base metals. In addition, quartz veining and silicification are observed to increase with depth of the breccia zone intercepted in drill core as well as localized zones of propylitic alteration observed. Collectively these characteristics are consistent with the uppermost regions of a low-sulphidation epithermal system, and/or potentially related to an explosive diatreme breccia complex. The Company believes that the roots of the system have yet to be drill tested and are further encouraged by the magnitude of the brecciation, which is significantly larger than initially mapped (Figure 1), coupled with an increase of quartz veining at depth. In addition, results from drill holes BG21-001, 003A, 004, 005, and 006 suggest significant potential to the north
along the Meadows Fault Zone, which hosts numerous surface gold occurrences.