Company to shift exploration to promising
MLK President & CEO,
Golden Eye Highlights:
- The Company is reporting assay results from a total of 90 rock samples of quartz vein material (both bedrock and glacially derived) consisting of several different morphological vein types.
- The highest assay was 8.95 g/t Au with all other assays considered insignificant.
- Samples were collected from the
West Zone covering a strike length of approximately 3.1 kilometers. - Associated mineralogy of the samples included, arsenopyrite, pyrite, chalcopyrite, bornite, chlorite, plagioclase, and muscovite/sericite in addition to quartz.
- Historical grab sample assay results on the property have returned values up to 18.9 g/t Au while diamond drill core assayed up to 2.95 g/t Au over 0.7 metres (DDH: LR-10-02) at the
West Zone . - Map can be found HERE.
The Company is encouraged by mineralization occurring along a strike of the
Manuels Highlights:
- The Company carried out soil sampling and a six-hole diamond drilling program on its 100 percent owned low sulphidation, epithermal
Manuels gold property near theTown of Conception Bay South on theAvalon Peninsula ofNewfoundland . - Soil sampling on the property returned silver values up to 12.2 g/t Ag over a significant area, but gold values did not correspond with anomalous silver. The soil sample grid will be expanded in 2022 and further evaluate the anomalous silver geochemistry discovered on the property.
- The drill program was focused on depth continuity of two low-grade (~0.5 g/t Au) gold occurrences hosted in deep red coloured silicified rhyolite. At the Boxcar breccia occurrence, assay results from drill core returned up to 0.21 g/t Au with the width of the mineralized zone increased from approximately one metre to more than 11 metres.
- Drilling efforts to intersect deeper mineralization under both the Boxcar and the Farmers Field occurrence resulted in drilling difficulties from block-faulting and both areas were abandoned following a total of 594 metres being drilled.
Outlook for 2022:
With a drilling exploration plan initiated for 2022, the Company also engaged
Executive Chairman & Director,
"We expect to demonstrate the strength of our operations and proven operating model as we enter a period of significant investment in our exploration plan. In 2022, our focus will be on delivering long-term value to all of our stakeholders and staff through our ongoing commitment to sustainable, inclusive, and responsible mining."
Qualified Persons and 43-101 Disclosure
About
Founded in 2018,
Additional information about the Company and its activities may be found on the Company's website at www.mlkgold.com and under the Company's profile at www.sedar.com.
To view the Company's recent promotional video, please click HERE.
Forward-Looking Statements
This news release contains certain forward-looking statements. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
SOURCE
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