SHOWCASE MINERALS INC. Calgary, Alberta--(Newsfile Corp. - March 22, 2024) - Showcase Minerals Inc. (CSE: SHOW) (FSE: ZJ0) ("Showcase") is pleased to announce that it has contracted with Envirotech Drilling of Winnemucca, Nevada, for its planned 12-hole 3,653 meters drill program on its Dixie Flats-North Star Gold Project located in Elko County, Nevada. Figure 1 shows the location of the 2024 targets. Two holes (457 meters) are initially planned, and the remaining 10 holes will be drilled pending results. Drilling is anticipated to begin in April.
The North Target area is where most of the historic drillholes on the Dixie Flats-North Star Gold Project are located (Figure 1). In the Rain-Emigrant District, gold mineralization occurs in silicified and pyritic collapse breccia within the Webb Formation just above the contact with Devils Gate Limestone, particularly along faults and at fault intersections. Five planned holes test the contact of Webb Formation shales with the underlying Devils Gate Limestone and a primary NNE-SSW oriented fault. This primary structure is also along trend with Orla Mining's Dark Star Gold deposit.
The South Target (Figure 1) is located at the intersection of the primary fault and an E-NE cross-cutting structure and the Webb-Devils Gate contact with seven planned drillholes. If ore bearing mineralization is encountered in both faults, a previously unknown foci of mineralization will be identified. This expands the mineralization envelop along the main NNE-SSW trend.
The drill targets have been identified using analysis of 53 historic drillholes, localized geologic mapping, surface sampling Controlled Source Audio Magnetotelluric (CSAMT) surveys, seismic, and gravity surveys. A clear trend of mineralization near to historic drilling has been identified, which aligns with the regional trend of mineralization of the Rain Mine to the northwest and the Dark Star Deposit approximately 1.5 miles south of the southwest end of the Dixie Flats-North Star claim block. This drill program is designed to expand the known ore body near previous high-grade intercepts and then extend the ore body along strike of identified structures.
About the Dixie Flats-North Star Gold Project:
The Dixie Flats-North Star Property (the "Property" or "Dixie Flats") is located on the east side of the Piñon Mountains, 21 air-miles south of the City of Elko in northeast Nevada. It is a combination of two claim blocks, the Dixie Flats group of claims and the North Star group of claims. The Property is comprised of a total of 236 total unpatented mineral claims on Federal land administered by the US Bureau of Land Management ("BLM").
The Property lies on the southern margin of the Carlin Trend, a northwest-trending belt of sediment-hosted gold deposits that makes up the greatest geographic concentration of gold deposits in North America, with reported production of more than 92.5 million ounces of gold since 1961 (Muntean, 2019). The Dixie Flats-North Star Property is underlain by rocks known to host gold mineralization on the Carlin Trend, and surface sampling has shown anomalous gold, silver, arsenic, antimony, and mercury levels in rock, soil, and biogeochemical samples from the Property, which is a characteristic geochemical signature of Carlin-Type gold deposits.
The Dixie Flats-North Star Gold Project is approximately three miles south of Newmont Mining Company's Emigrant Springs Mine, which finished production in 2018, and approximately 4.5 miles southeast of the past producing Rain Mine. Both deposits are hosted in dissolution breccia zones at the contact between the Webb mudstone, the basal unit of the overlying assemblage, and the underlying Devils Gate limestone. Prior exploration on the Dixie Flats-North Star Property has been focused on delineating this contact at depth and discovering possible extensions to the regional structures controlling mineralization at the Rain and Emigrant Mines and their demonstrated extension to the Dixie Flats-North Star Property. The information on the adjacent projects is taken from publicly available sources and is not necessarily indicative of the mineralization on the Dixie Flats-North Star Property.
Additional information on the Dixie Flats-North Star Gold Project can be found in the National Instrument 43-101 ("NI 43-101") technical report entitled "Technical Report on the Dixie Flats-Northstar Gold Exploration Property", Elko, Nevada, dated September 21, 2022, which has been filed on SEDAR at www.Sedar.com.
Qualified Person:
Mr. Steve McMillin, M.Sc., C.P.G. is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this news release.
About Showcase Minerals Inc.
Showcase is a Canadian mineral exploration company with an exclusive option to acquire a 100% interest in Dixie Flats-North Star Gold Project and the Woodruff Gold-Vanadium Project (subject to various net smelter returns royalties ranging from 2.25% to 4.25%), which collectively consist of unpatented 254 lode mining claims covering approximately 1,818 hectares located in Elko County, Nevada.
For further information, please contact:
Kirk Reed, President
Showcase Minerals Inc.
Telephone: 1-800-982-0670
Neither the CSE nor its Market Regulator (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this news release.
Not for distribution to United States newswire services or for dissemination in the United States.
Figure 1: Location of the 2024 Dixie Flats-North Star drill targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9723/202879_ad2b8a6024f57a1f_002full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202879
