The best value returned was 6.18 g/t Au from a total of 52 grab samples submitted for analysis. The new showing is associated with a 15-20 centimetre wide south-trending crack seal quartz-carbonate vein on the margin of a northwest-trending magnetic feature approximately 500 metres northwest along trend of the south-trending
Transition President and CEO
About the Cryderman Property
The Property consists of six mining and surface rights leases and one mining claim, totaling approximately 116 hectares located in the western portion of the Shining Tree gold camp, approximately 55 kilometres east of
The Property is underlain by Archean ultramafic, mafic and felsic flows, volcaniclastics, interflow epiclastics and chemical sedimentary rocks of the southwest portion of the Abitibi greenstone belt near an unconformable contact with Timiskaming-type rocks to the north1. These lithologies are cut by late, north-trending, regional faults, such as the
Transition Concludes the Transfer of the Cryderman Leases
In
Next Steps
Future work considered for the property includes trenching in the vicinity of the new gold showing in order to further delineate trends, along with more prospecting in order to investigate the magnetic feature and its apparent structural breaks. A geochemical survey over the central portion of the property may help delineate or highlight targets of interest where outcrop is absent.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes 'forward-looking information' within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as 'plans', 'proposes', 'estimates', 'intends', 'expects', 'believes', 'may', 'will' and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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