TSX-V: VEIN | FSE: N071
TORONTO, Jan. 22, 2018 /CNW/ - Enforcer Gold Corp
("Enforcer" or the "Company") (TSX-V: VEIN – FSE: N071) is pleased
to announce plans for a Phase 1 exploration drilling program and
provide an overview of the Roger gold-copper porphyry project. The
Roger project is located in the Abitibi greenstone belt and is 5 km
from the historic mining centre of Chibougamau, Quebec. Enforcer is earning a 50%
interest in the property from SOQUEM as announced on January 11, 2018.
President & CEO, Steve
Roebuck, comments:
"We believe there's an exceptional opportunity at Roger and are
pleased to be working with SOQUEM to quickly move the project
forward. Roger hosts the MOP-II gold-copper deposit with a
historical Inferred Resource of 167,000 ounces of gold that was
estimated using a gold price of US$500 per ounce."
"The 2018 Phase 1 exploration program is scheduled to commence
by end of February and is budgeted at $500,000 including 3,000
m of diamond drilling. Several holes will be drilled to
verify historical results as well as deepening of holes that ended
in mineralization. The results of the 2018 Phase 1 drilling will be
compiled and modelled with the historical (1957-1989) and more
recent drilling by SOQUEM (2008-2013) to prepare a current mineral
resource estimate on the Mop-II gold-copper deposit. We're keen to
see how the Mop-II will pan out as a high-tonnage, lower-grade
opportunity under much higher gold prices than prevailed when
previously evaluated for its higher-grade, vein-type
potential."
Historical Resource Estimate
A 2006 NI 43-101 compliant mineral resource estimate on the
deposit by Scott Wilson Roscoe Postle Associates Inc. for SOQUEM
totalled 167,200 ounces of gold in the Inferred Resource category
as follows:
Historical Inferred Resource Estimate – January 2006
Zone
|
Tonnes
|
Au
g/t
|
Au
oz
|
Cu
%
|
Main
|
3,216,000
|
1.61
|
166,200
|
0.04
|
North
|
24,000
|
1.32
|
1,000
|
0.12
|
Total
|
3,240,000
|
1.61
|
167,200
|
0.04
|
Notes:
|
|
1.
|
The resource estimate
was prepared by qualified person, Bernard Salmon, Eng., of Scott
Wilson Roscoe Postle Associates Inc.
|
2.
|
Mineral Resources
were estimated according to CIM definition standards
(2005).
|
3.
|
Mineral Resources
were estimated at cut-off grades of 1.0 g/t Au
|
4.
|
Mineral Resources
were estimated using an average long-term gold price of US$500 per
ounce, and a US$/C$ exchange rate of 1:1.20.
|
5.
|
Mineral resources
that are not mineral reserves do not have demonstrated economic
viability.
|
N.B.: Enforcer considers the 2006 estimate as a
historical resource estimate that has relevance to the project;
however, a qualified person for the Company has not done sufficient
work to classify the historical estimate as a current mineral
resource and as such it should not be relied on.
In the 2010 technical report supporting the 2006 resource
estimate, the Mop-II deposit is described as having two distinct
zones: Main and North. The Main zone is interpreted over a
330 m vertical depth and is open
along strike and at depth. Drilling at depth indicated higher gold
grades and an east-west trend that appeared to be better developed
below the -200 m level.
Mineralization in the North zone was not yet well defined by
diamond drilling, but appeared to differ from the Main zone in that
gold was less abundant and copper grades were significant, at least
three times higher than in the Main zone.
Subsequent to completion of the 2006 estimate, SOQUEM completed
an additional 60 drill holes on the property totalling 15,456 m, of which 54 holes totalling
13,755 m further tested the Mop-II
deposit.
The Opportunity
Although historically explored as a higher-grade, vein type
deposit, the Mop-II is now being evaluated for its for its
high-tonnage, low-grade gold-copper potential. Exploration up until
SOQUEM obtained the property in 1997 focused on narrow,
higher-grade shear zones within quartz-feldspar porphyry. Sampling
of the historical drill holes was based on sulphide occurrences,
and in the case of surface holes, only 48% of drilled meters were
sampled for gold. Assaying for copper was based on the presence of
chalcopyrite and was only carried out on 5% of the samples that
were analysed for gold. This sampling bias is at odds with results
of surface drilling by SOQUEM that report wider zones of
lower-grade mineralization.
Of the 136 holes drilled prior to SOQUEM, only 9 holes from the
1988-89 program were recovered and provide the opportunity for
re-assaying. To verify the results of some other historical holes,
several have been selected for twinning during the 2018 Phase 1
drilling program. This will also provide the opportunity for
sampling along the entire length of the holes to determine what
lower grade mineralization may have been missed in the historic
sampling.
In addition to gold-copper porphyry mineralization, the Roger
project also offers the potential for epithermal
gold-silver-copper-lead-zinc mineralization as observed south of
the property on the Berrigan deposit.
Location, Infrastructure & Exploration History
The 987-hectare Roger property is located in the Chibougamau mining district, 5 km from the
town of Chibougamau with
all-weather access via gravel roads. A power line that serviced the
past-producing Troilus mine crosses the property at 1.3 kilometers
east of Mop-II deposit and connects the Obalski electoral
distribution station located 4 km south of Chibougamau.
Gold and copper was first discovered in the Chibougamau mining camp in the early 1900s.
Active mining from 1953 to 2008 produced 3.2 million ounces of gold
and 1.6 billion pounds of copper along with significant amounts of
silver and zinc.
Exploration for gold on the Roger property began in the 1940s
and the first drilling campaign was conducted in 1957. Drilling
programs were limited in scope until the period 1985 to 1989, when
Flanagan Inc. and Muscocho Exploration Ltd. carried out close to
24,700 m of surface drilling followed
by an underground exploration program that included 832 m of ramp development, 82 m of cross-cuts, 124
m of drifting, 139 m in
raises, over 1,000 m of chip sampling
and 1,400 m of underground drilling
in 23 holes. The 1988 underground program was planned to test 2 of
4 auriferous shear zones that had been interpreted from surface
drilling to trend northwest; however, the underground program
revealed that gold mineralization was actually controlled by
east-west trending shear zones. Sixty-five surface holes drilled in
1988 were also oriented to test northwest-trending structures, and
as such intersected the mineralization at 45° to its trend rather
than perpendicular. This would have greatly hindered the geological
understanding of the deposit at the time. Exploration work ceased
in 1989 due to low gold prices and the property lay dormant until
SOQUEM staked the area in 1997.
From 2000 to 2005, SOQUEM carried out an additional 7,500 m drilling and commissioned a mineral
resource estimate on the Mop-II deposit that was completed in
January 2006. SOQUEM completed 4
additional drilling campaigns between 2008 and 2013 totalling over
15,000 m.
In total, 17 separate drilling campaigns have been completed on
the property totalling nearly 55,000
m of diamond drilling. The gold mineralization at the Mop-II
deposit is associated with a large ENE-trending pyrite gold-bearing
mineralized envelope that is ~200 m wide and at least 800 m long. The gold mineralization mainly occurs
in the quartz-feldspar porphyry intrusion along 0.5 m to 20 m wide
east-west trending shear zones, but is also present in the rocks
immediately adjacent to the intrusion. Drilling to date has
intersected mineralization from near surface to 380 m depth (open).
About SOQUEM
SOQUEM Inc., a subsidiary of Ressources Québec, is a leading
player in mineral exploration with its mission to explore, discover
and develop mining properties in Quebec. SOQUEM has participated in more than
350 exploration projects and contributed to major discoveries of
gold, diamonds, lithium and other minerals in Quebec.
About Enforcer Gold Corp
Enforcer Gold Corp is a Canadian-based mineral exploration
company and is earning a 100% interest in the Montalembert gold
project from Globex Mining Enterprises Inc. (TSX: GMX) and a 50%
interest in the advanced-stage Roger gold-copper porphyry property
from SOQUEM. Both properties are located in Quebec's prolific Abitibi greenstone belt. The
Company completed its first exploration program on the Montalembert
project in October 2017, including
5,784 m of diamond drilling. Enforcer
has a strong cash position with $3.9
M is its treasury.
Enforcer's President & CEO, Steve
Roebuck, PGeo, is a Qualified Person as defined by National
Instrument 43-101 and has reviewed and approved the content of this
news release.
Neither the 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 news release.
This news release contains "forward-looking statements" that are
based on expectations, estimates, projections and interpretations
as at the date of this news release. Forward-looking statements are
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate",
"suggest", "indicate" and other similar words or statements that
certain events or conditions "may" or "will" occur, and include,
without limitation, statements regarding the Company's plans with
respect to the exploration of its Roger project, the exploration
potential and analogous deposit potential of the Roger project and
the timing of the Company's exploration programs. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such risks
and other factors may include, but are not limited to, the results
of exploration activities; the ability of the Company to complete
further exploration activities; the ability of the Company to
complete transactions on terms announced; timing and availability
of external financing on acceptable terms and those risk factors
outlined in the Company's Management Discussion and Analysis as
filed on SEDAR. Enforcer Gold does not undertake to update any
forward-looking information except in accordance with applicable
securities laws.
SOURCE Enforcer Gold