Burin Gold mobilises airborne geophysics crew to Hickey’s Pond, Newfoundland
November 29 2021 - 10:32AM
Burin Gold Corp. (TSXV:BURG), (“
Burin Gold” or the
“
Company”) is pleased to announce that following
its successful IPO and listing on the TSX Venture Exchange on
November 22nd, 2021, the Company has moved rapidly to mobilise an
airborne geophysical survey crew to its property on the Burin
Peninsula of Newfoundland. The Company has contracted Geotech Ltd.
(“
Geotech”) to conduct a +1,600 line-km airborne
Versatile Time-Domain Electromagnetic (“
VTEM”)
geophysical survey over the Hickey’s Pond – Paradise Gold Project.
Geotech personnel are now at the property site and the survey will
be ongoing over the next several days, subject to favourable
aviation weather.
The Company previously completed a VTEM survey
over parts of the property in 2019. The airborne inductively
induced polarization (“AIIP”) anomaly generated
from the survey data by Geotech correlated closely with the spatial
footprint of alteration and mineralisation around the Hickey’s Pond
showing and delineated a 7 km long anomaly that is as-yet untested.
With this new survey, the Company will have complete VTEM coverage
over the property and will test for the first time a second trend
of showings 6 km in length that has neither historical geophysical
coverage nor historical drill holes.
David Clark, CEO of Burin Gold said, “We are
serious about moving quickly and generating exploration results
right out of the gate of our IPO. This survey will help us define
drill targets on the Paradise trend, a 6 km long series of
undrilled epithermal gold showings located west of our main
Hickey’s Pond trend, will extend our previous survey along strike
of the Hickey’s Pond trend, and help us better interpret the
geology of the district. We plan to mobilise a drill in early
Q1/2022 to start our resource-level drill program at Hickey’s
Pond.”
Preliminary results from the airborne survey are
expected in December 2021. The survey results will help define
targets along strike of the known alteration trends on the
Company’s property and help with district-scale geological
interpretation.
About Burin Gold Corp.
Burin Gold is a newly listed public company on
the TSX Venture Exchange. The Company’s principal asset is its
Hickey’s Pond-Paradise Gold Project on the Burin Peninsula,
Newfoundland. This project contains the Hickey’s Pond gold
prospect, drill tested with an initial 1,000 m drill program in
2020 with best results of 10.8 m of 4.43 g/t Au, as well as
numerous other historical high-sulphidation epithermal gold
showings that have yet to be drill tested. With the successful
completion of its IPO, the Company is well-positioned to commence a
significant diamond drilling campaign at the Hickey’s Pond
prospect, planned to start Q1/2022.
Qualified Person
David Clark, MSc, PGeo, CEO of Burin Gold, is
the Company’s designated Qualified Person within the meaning of
National Instrument 43-101 Standards of Disclosure for Mineral
Projects (“NI 43-101”). He has prepared the
technical content of this news release.
Acknowledgement
The Company acknowledges the financial
assistance of the Mineral Development Division, Department of
Industry, Energy, and Technology, Government of Newfoundland &
Labrador, via its Junior Exploration Assistance Program. The
program provides valuable financial rebates on exploration
expenditures made in the province to qualifying exploration
companies. The Company has benefited from the program yearly since
2018.
On behalf of the Board
“David Clark”CEO & Director
Further Information:
David ClarkCEO & DirectorBurin Gold
Corp.1-877-620-4185 – toll freeinfo@burin-gold.com
Forward Looking Statements
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.
This News Release includes certain
“forward-looking statements” which are not comprised of historical
facts. Forward looking statements include estimates and statements
that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or management
expects a stated condition or result to occur. Forward looking
statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this
news release includes, but is not limited to, the Company’s
objectives, goals or future plans, statements, exploration results,
potential mineralization, the estimation of mineral resources,
exploration and mine development plans, timing of the commencement
of operations and estimates of market conditions. Factors that
could cause actual results to differ materially from such
forward-looking information include, but are not limited to failure
to identify mineral resources, failure to convert estimated mineral
resources to reserves, the inability to complete a feasibility
study which recommends a production decision, the preliminary
nature of metallurgical test results, delays in obtaining or
failures to obtain required governmental, environmental or other
project approvals, political risks, inability to fulfill the duty
to accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry, an inability to
predict and counteract the effects of COVID-19 on the business of
the Company, including but not limited to the effects of COVID-19
on the price of commodities, capital market conditions, restriction
on labour and international travel and supply chains, and those
risks set out in the Company’s public documents filed on SEDAR.
Although the Company believes that the assumptions and factors used
in preparing the forward-looking information in this news release
are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
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