Highlights:
- The Company has received results from drillholes 1274-24-312-313, and 331-332 highlighted by the following intervals:
- #312 – 1.31% CuEq over 23.55 metres beginning at 114.15 metres depth, including 5.4% CuEq over 2.75 metres.
- #313 – 2.68% CuEq over 25.5 metres beginning at 189.0 metres depth, including 4.82% CuEq over 13.15 metres.
- The results from #312 and #313 infilled the mineralization on the eastern side of the B26 Main Deposit close to the limit of the known deposit, improving on the grades identified in historical drilling.
- Assay results from eastern extensional holes #315 and #320 to #323 are pending where the Company has seen positive visuals.
- The Company remains well funded with
$18.0 million to complete the remaining 16,500 metres planned for the 2024 work program as well as an additional 20,000 metres in 2025, which will be incorporated into a Preliminary Economic Assessment to complete the B26 option.
B26 Eastern Extension
The B26 Main Deposit has a continuous strike length of 1.0 kilometers and mineralization has been drilled to 850 metres in vertical depth with limited drill coverage below 500 metres.
Holes 1274-24-312 to 1274-24-313 were drilled as part of a series of holes planned to fill 50 to 100 metre gaps in the section to better define the deposit at its eastern margin. Other objectives covered by newly drilled holes were to open ground up-dip from known mineralization to cover from bedrock surface to a depth of 100 metres. Also, the use of longer holes in this area of the deposit, when compared to historical drilling, has tested the mineralized corridor footwall.
The best intercept in drill hole 1274-24-313 was 2.68% CuEq over 25.5 metres, beginning at 189.0 metres. It was drilled at close range to 1274-13-87 to expand the known mineralization down hole. 1274-24-312 intercepted 1.31% CuEq over 23.55 meters and was drilled up-dip to test the bedrock interface extension about 15 metres above historical hole 1274-13-89.
B26 West
Holes 1274-24-331 and 1274-24-332 were drilled on the western limit of the B26 Deposit to test the lateral continuity of the main lens near surface. A spacing of 25 metres was used to infill the actual grid. Three pluri-metric mineralized intercepts were obtained from hole 1274-24-332 at different positions in the hole, from 117 metres to 262 metres down hole (see following table). Our program wide interpretation will investigate the relation of all components of the system.
Table 1: Significant Intercepts
Hole ID | From (m) | To (m) | Length (m) | CuEq (%) | Cu (%) | Au (g/t) | Ag (g/t) | Zn (%) |
1274-24-312* | 114.15 | 137.7 | 23.55 | 1.31 | 1.04 | 0.25 | 9.93 | 0.1 |
incl. | 115.15 | 117.9 | 2.75 | 5.40 | 4.10 | 1.10 | 52.80 | 0.52 |
1274-24-313 | 189 | 214.5 | 25.5 | 2.68 | 2.36 | 0.36 | 9.45 | 0.04 |
incl | 193.85 | 207 | 13.15 | 4.82 | 4.26 | 0.64 | 15.43 | 0.07 |
and | 225 | 235 | 10 | 1.37 | 0.98 | 0.53 | 3.93 | 0.04 |
1274-24-331 | 170.7 | 175.5 | 4.8 | 1.28 | 1.01 | 0.34 | 4.76 | 0.01 |
1274-24-332 | 117.25 | 123 | 5.75 | 0.72 | 0.67 | 0.04 | 3.28 | 0.01 |
and | 130.1 | 132.6 | 2.5 | 1.32 | 1.09 | 0.29 | 4.68 | 0.007 |
and | 257.9 | 262 | 4.1 | 0.83 | 0.67 | 0.17 | 3.53 | 0.47 |
Note 1: The intercepts above are not necessarily representative of the true width of mineralization. The local interpretation indicates core length corresponding to 70 to 80% of the mineralized lens' true width. Note 2: Copper equivalent values calculated using metal prices of Note 3: Intervals were calculated using a cut off grade of 0.1% Cu Eq, which represents the visual limit of the mineralized system. * Further assays are outstanding from this hole |
Table 2: Drill Hole Information
Drill hole | Target | UTM | UTM | Elevation | Azimuth | Dip | Length (m) Drilled |
1274-24-312 | B26 Main | 653350 | 5513314 | 276 | 360 | -49 | 282 |
1274-24-313 | B26 Main | 653350 | 5513275 | 276 | 360 | -56 | 342 |
1274-24-331 | B26 Main | 652500 | 5513320 | 276 | 360 | -47 | 321 |
1274-24-332 | B26 Main | 652503 | 5513364 | 276 | 360 | -50 | 399 |
The core logging program is run by Explo-Logik in
Samples preparation duplicates, varied standards, and blanks are inserted into the sample stream.
In the 2018 resource estimate, SGS recommended the QAQC protocol to explain the replicability for the four metals (Au-Cu-Ag-Zn). The Company has set up for this program a series of assaying protocols with the objective to control QAQC issues from the beginning of the project. As a result, samples are crushed finer with 95% of particles passing 1.7 mm and a large split of 1 kg is pulverized down to 106 µm (150 mesh). Other measures put in place include the automatic re-assaying of gold results above 3 g/t by metallic screening and the use of sodium peroxide fusion in mineralized intervals interval corresponding to a target grade above 0.5% Cu.
Information contained in this press release was reviewed and approved by
ON BEHALF OF THE BOARD
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Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Note 1: A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The issuer is not treating the historical estimate as current mineral resources or mineral reserves. Source: Rapport Technique NI 43-101 Estimation des Ressources Projet B26,
Note 2: Copper equivalent values calculated using metal prices of
Note 3 - Sources:
Fayard, Q, Mercier-Langevin, P., Wodicka, N., Daigneault, R., & Perreault, S. (2020). The
Fayard, Q. (2020). CONTRÔLES VOLCANIQUES, HYDROTHERMAUX ET STRUCTURAUX SUR LA NATURE ET LA DISTRIBUTION DES MÉTAUX USUELS ET PRÉCIEUX DANS LES ZONES MINÉRALISÉES DU PROJET B26, COMPLEXE VOLCANIQUE DE BROUILLAN, ABITIBI,
Forward-looking statement:
This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the
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