As discussed in the Company's last press release of
As expected, additional rock samples were taken, and some previously drilled core was also logged and sent for analysis. Drilled core sent for analysis was from four back-pack drill holes completed in early 2022, three drilled in the
In the meantime, the preliminary field report has been made available on the Company's web-site at sasquatchresources.com. A few observations from the preliminary field report are summarized below.
An additional bedrock geology map was developed showing all the zones of interest at
It was also noted from the field that extensive and continuous bedrock exposure in the
Limited geological mapping has started to support this theory, with some important further steps to occur in the spring. Once rock samples and drill core have been returned (expected in late January) it is anticipated that any potentially economic mineralization in surface showings can be further followed and mapped within and between these various zones of interest, potentially starting to confirm the overall size of some of these trends. This work will be further supplemented with additional backpack drilling at key locations to test mineralization consistency to the first 5 meters.
A complete list of samples taken and lab analyzed at
Our 43-101 Report describes 27 samples taken at Lenora in 2011, within the
That same sampling program took 4 samples from the
The 43-101 Report describes further samples taken in 2020, with 3 samples taken from adits in the
In 2021, the author of the 43-101 Report took 12 samples from Lenora, and 4 samples from Tyee (both being former mine sites within the
In the same program, the author took 2 new samples from the
Readers are cautioned that there has been insufficient exploration to define a mineral resource on the property and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Over the spring, we will continue to map, follow and sample surface occurrences as well as backpack drill in certain key locations, in hopes of further understanding if these trends run over significant distances and continuously throughout our numerous respective zones of interest.
As we work to verify and measure the rough dimensions of these various occurrences right at surface, as well as ascertain their mineral composition, we will also continue to investigate deeper structures (those mined between 1895-1906) using available geophysical data, as well as all the historical data we have available (i.e. historical drilling, audit/tunnel maps, old MINFILE reports, etc.). To this end, The Company has hired a data gathering and analysis specialist, and we are expecting a report from them in late January.
A map showing the original 5 zones of interest together, indicating where new samples from late 2022 have been taken, as well as showing the location of backpack drill holes from 2022, is reproduced below to better demonstrate the unfolding exploration picture at
Steps Completed Since Listing
We are also pleased to provide the following list of milestones and accomplishments that have occurred since our listing date in
These include:
The addition of 1,232 hectares of new claims adjoining the existing claim area at
In September the Company constructed and launched a comprehensive web-site, which includes an 'Interactive Map' section allowing users to tour each area of interest in great detail, providing detailed maps, photographs, drone footage from each area of interest, and the ability to zoom in and out and see the project from numerous perspectives.
All known lab-analyzed samples taken from various locations across the
The acquisition of data from a previous TDEM geophysical survey, and the subsequent inversion of that data by an independent geophysicist, who in turn provided a report which has been made available on the Company's web-site (in the 'Reports' section).
A LiDAR survey of the entire claim area (original and extended claim area) was completed by
Identification of a number of areas of waste rock within the claim areas, likely each corresponding with one of the mines in operation between 1895-1906, and we have started the process of ascertaining the volume and composition of these waste piles, as well as any potential value they might have. More information will be released about these waste rock piles as more is learned about them over the coming weeks.
Completion of a geological reconnaissance program in late November, the first date
A data compilation and analysis expert has been hired to look though all available historical data and complete a report, as well as provide recommendations and further guidance in conjunction with work completed to date by Sasquatch, with first feedback expected in late January.
About the Company
Contact:
Chief Executive Officer
T: 778.999.7030
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'expect', 'estimate', 'anticipate', 'intend', 'believe' and 'continue' or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Mount Sicker Property, the proposed work program on the Mount Sicker Property and the potential and economic viability of the Mount Sicker Property. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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