TORONTO, Oct. 6, 2021 /CNW/ - 1911
Gold Corporation ("1911 Gold" or the
"Company") (TSXV: AUMB) (OTCQX: AUMBF) is pleased to provide
an exploration update for its 100% owned Apex Gold Property,
located in the prolific Snow Lake Mining District in northern
Manitoba.
Highlights:
- Assay values up to 1,240 g/t gold obtained from grab samples
of quartz veins and altered wallrock associated with fault systems
cutting the Rex Lake Pluton, adjacent to the crustal-scale Crowduck
Bay Fault
- High-grade gold is associated with zones of sulphide
enrichment containing up to 40% disseminated sulphide
(arsenopyrite, pyrite, pyrrhotite, chalcopyrite), within and
peripheral to fault-systems in the Rex Lake Pluton
- Recently-completed OreVision® induced-potential (IP)
geophysical survey by Abitibi Geophysics identified strong
chargeability anomalies, interpreted to signify zones of sulphide
enrichment, coinciding with known near-surface gold
mineralization
- Larger IP anomalies also identified at depth within and
adjacent to the Rex Lake Pluton, which have not been tested by
previous drilling
Scott Anderson, Ph.D., P.Geo.,
Vice-President Exploration, stated, "While the Company remains
focused on its flagship asset in the Rice Lake Gold District of
southeast Manitoba, we continue to
advance other assets within the Company's portfolio, and are
extremely pleased with the results to date from the Apex Gold
Property. Located immediately to the north and adjacent to the
Laguna Gold Property currently being explored by an affiliate of
Kinross Gold Corporation, the highly prospective Apex Gold Property
has rapidly advanced to drill-ready status and the Company looks
forward to testing a number of very compelling drill targets that
show strong potential for significant discovery".
Apex Gold Property – Exploration Program
The Company initiated exploration at the Apex Gold Property in
2019, completing reconnaissance geological mapping, prospecting and
surficial geochemical surveys of historical gold showings. This
work confirmed the widespread presence of gold mineralization and
yielded assay values up to 132.6 g/t gold from strongly sulphidized
inclusions (xenoliths) in the Rex Lake Pluton (Table 1).
This important new observation prompted 1911 Gold to expand its
land position westward, staking seven additional claims, totaling
1,448 hectares, to cover the western contact of the Rex Lake Pluton
and the adjacent Burntwood Group – a possible source of the
high-grade xenolith in the pluton (Figure 1).
In 2021, the Company cut a 17 line-kilometre grid to facilitate
a geophysical survey across the major trend of gold mineralization
and the western contact of the pluton. The survey, completed by
Abitibi Geophysics using the OreVision® induced-polarization (IP)
system, included six profile lines arranged into 3 pairs of
200-metre-spaced lines, with each pair separated by 400 metres,
providing coverage over 1,400 metres of strike length along the
targeted features.
Table 1: Highlighted
assay results from grab samples, Apex Gold Property
|
Sample
|
Year
|
Sample
type
|
Rock
type
|
Easting
|
Northing
|
Gold
assay
|
number
|
|
|
|
(NAD83, UTM
Z14)
|
(g/t
Au)
|
R15354
|
2021
|
Outcrop
|
Vein
|
448655
|
6076058
|
26.1
|
R15352
|
2021
|
Outcrop
|
Vein
|
448655
|
6076062
|
17.3
|
R15349
|
2021
|
Outcrop
|
Vein
|
448665
|
6076090
|
1240.0
|
R15345
|
2021
|
Outcrop
|
Vein
|
448655
|
6076065
|
5.0
|
R15344
|
2021
|
Float
|
Vein
|
448060
|
6074668
|
11.2
|
R15338
|
2021
|
Outcrop
|
Wallrock
|
448202
|
6074169
|
11.3
|
R15337
|
2021
|
Outcrop
|
Vein
|
448205
|
6074170
|
36.2
|
R11766
|
2019
|
Outcrop
|
Vein
|
449307
|
6073587
|
6.2
|
R11761
|
2019
|
Outcrop
|
Vein
|
449321
|
6073303
|
7.7
|
R11759
|
2019
|
Outcrop
|
Vein
|
449208
|
6073237
|
20.8
|
R11758
|
2019
|
Float
|
Vein
|
449195
|
6073235
|
10.4
|
R11755
|
2019
|
Outcrop
|
Vein
|
449224
|
6073241
|
69.1
|
R11743
|
2019
|
Outcrop
|
Wallrock
|
447999
|
6074883
|
132.6
|
R11735
|
2019
|
Outcrop
|
Vein
|
448001
|
6075573
|
7.8
|
R11734
|
2019
|
Outcrop
|
Vein
|
447999
|
6075577
|
14.1
|
The OreVision® IP survey successfully identified two priority
trends of chargeable targets, the eastern of which is entirely
within the Rex Lake Pluton and includes the historical Apex Gold
Deposit at its northern end (Figure 1). The western trend mimics
the contact of the Rex Lake Pluton and Burntwood Group. In section,
the eastern trend is defined by a series of sub-horizontal
anomalies extending to depth (consistent with the sub-horizontal
attitude of the Apex Gold Deposit), whereas the western trend
includes both subvertical and sub-horizontal anomalies. Each trend
thus contains extremely compelling targets for exploration
drilling, in areas with no record of historical drilling.
Follow-up work during the 2021 field season included two weeks
of geological mapping, prospecting and surficial geochemistry,
expanding on the work completed in 2019 and extending coverage over
near-surface geophysical targets identified by the IP survey.
Highlights from grab sampling during this program include
several high-grade gold values from the defined mineralized trends
within the pluton, including a spectacular value of 1,240 g/t gold
from the historical Montana vein
in the northeast portion of the property. To date, 52% of samples
collected by 1911 Gold have returned values greater than 1 g/t
gold, with 18% of samples containing greater than 5 g/t gold,
highlighting the excellent prospectivity of this property.
Apex Gold Property – Background
The Apex Gold Property, totalling 2,200 hectares, is located 14
kilometres southeast of Snow Lake
Manitoba (Figure 1), within the prolific Snow Lake Mining
District that contains world-class base-metal and gold deposits, as
well as significant deposits of nickel and lithium.
Gold mineralization on the property is hosted by the Rex Lake
Pluton – a multiphase gabbro–granite intrusion that was emplaced
into marine sedimentary rocks of the Burntwood Group, immediately
north of the crustal-scale Crowduck Bay Fault. High-grade gold
mineralization is hosted by quartz veins in brittle-ductile shears
and faults, as well as zones of disseminated sulphides containing
arsenopyrite, pyrite, pyrrhotite and chalcopyrite.
The Apex Gold Deposit, discovered in 1918, is the most
significant gold occurrence on the property. It forms a
sub-horizontal sheet-like body exposed at surface over an area
measuring approximately 200 metres by 150 metres, consisting of
disseminated to fracture-controlled quartz and arsenopyrite. The
deposit was tested by several drilling programs between 1934 and
1981, consisting mainly of shallow, close-spaced drillholes
(approximately 6,000 metres in 100 drillholes), from which a
historical resource was calculated (pre-dates National Instrument
43-101 Standards of Disclosure for Mineral Projects).
In 2009, Bison Gold Resources Inc. completed a detailed (20
metre line-spacing) airborne magnetic gradiometer survey, totalling
1,612 line-kilometres, over the Apex Gold Property, providing much
clearer resolution of the internal complexity of the Rex Lake
Pluton. Importantly, this survey also clearly outlined the Apex
Gold Deposit and demonstrated the presence of several similar
geophysical anomalies with no record of historical drilling.
Outlook
The Company continues to process new data collected during the
2021 field exploration program, which prioritized the acquisition
of surficial geochemical data over geophysical anomalies in areas
of minimal bedrock exposure. The results of the field program will
be integrated with the high-quality geophysical datasets to
prioritize targets for exploration drilling, planned to include
approximately 2,500 metres in Q1-Q2 2022.
QA-QC Protocols
Sample handling, preparation and analysis are monitored through
the implementation of formal chain-of-custody procedures and
quality assurance-quality control (QA-QC) programs designed to
follow industry best practices. Rock samples were submitted to
Activation Laboratories Ltd. in Ancastor, Ontario (2021 program) or TSL Laboratories
Inc. in Saskatoon, Saskatchewan
(2019 program), for gold determinations by 30-gram fire assay and
AAS finish. Samples above threshold were re-assayed with a
gravimetric finish using a cut of the original pulp. In addition to
laboratory QA-QC protocols, 1911 Gold inserts certified standards,
non-certified blanks and field duplicates into the sample stream at
regular intervals, such that QA-QC samples account for 10% of the
total submitted. Results are routinely evaluated for accuracy,
precision and contamination.
Qualified Person Statement
Technical information in this news release has been reviewed and
approved by Scott Anderson, Ph.D.,
P.Geo., the Company's Vice President, Exploration, and Qualified
Person as defined by Canadian National Instrument 43-101 –
Standards of Disclosure for Mineral Projects.
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective,
consolidated land package of contiguous mining claims that totals
more than 58,000 hectares within and adjacent to the Archean Rice
Lake greenstone belt in Manitoba,
and also owns the True North mine and mill complex at Bissett, Manitoba, where it is reprocessing
historic tailings on a seasonal basis. 1911 Gold believes its land
package is a prime exploration opportunity, with potential to
develop a mining district centred on the True North complex. The
Company also owns the Apex Gold Property near Snow Lake, Manitoba and the Tully and
Denton-Keefer gold properties near Timmins, Ontario, and intends to focus on both
organic growth opportunities and accretive acquisition
opportunities in North
America.
1911 Gold's True North complex and exploration land package are
located within the traditional territory of the Hollow Water First
Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks
forward to maintaining open, co-operative and respectful
communication with the Hollow Water First Nation, and all local
stakeholders, in order to build mutually beneficial working
relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Ron Clayton
President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This news release may contain forward-looking statements. Often,
but not always, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or describes a "goal", or variation of such words and phrases or
state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and
assumptions based on information available at the time the
statements were made. Actual results or events may differ from
those predicted in these forward-looking statements. All of the
Company's forward-looking statements are qualified by the
assumptions that are stated or inherent in such forward-looking
statements, including the assumptions listed below. Although the
Company believes that these assumptions are reasonable, this list
is not exhaustive of factors that may affect any of the
forward-looking statements.
Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors which
may cause the actual results, performance or achievements to be
materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or
implied by the forward-looking statements. All statements that
address expectations or projections about the future, including,
but not limited to, statements about exploration plans and the
timing and results thereof, are forward-looking statements.
Although 1911 Gold has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release
are given as of the date hereof. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except in accordance with applicable securities
laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE 1911 Gold Corporation