Clarity Gold Provides Update of Ongoing Drilling Activities at the Destiny Project Near Val-d’Or, Quebec

Rhea-AI Summary

Clarity Gold Corp. has provided an update on its 10,000 m drilling program at the Destiny Project, located in Quebec's Abitibi Region. As of now, approximately 2,300 m of drill core has been processed, confirming mineralization in the DAC Zone. The program aims for infill drilling and expansion of gold mineralization in the GAP Zone with a second drill rig in operation. Notable findings include gold intercepts up to 167 g/t Au. The project holds significant exploration potential, given its historical drilling data and strategic location.

Positive

• Successful drilling program evidencing mineralization at expected depths.
• High-grade gold intercepts reported, including 167 g/t Au over 1 m.
• Strong historical data supporting exploration potential.

Negative

• None.

VANCOUVER, British Columbia, April 23, 2021 (GLOBE NEWSWIRE) -- Clarity Gold Corp. (“Clarity” or the “Company”) (CSE: CLAR, OTC: CLGCF, FSE: 27G) is pleased to provide an update of the ongoing 10,000 m planned diamond drilling program at the Company’s flagship gold project, Destiny, located in the prolific Abitibi Region in Quebec. To date, the Company’s technical team has processed and dispatched samples from approximately 2,300 m of drill core. Drilling so far has concentrated on infill of the western portions of the DAC Zone and confirmation of historic drilling which identified mineralization here. The recently added second drill rig is focusing on drilling infill, and extension to depth in the GAP Zone.

“All of the completed holes in this program so far have intercepted the mineralized structure at or near expected depths,” said James Rogers, CEO of Clarity Gold. “As we approach completing 25% of the planned metres we look forward to providing a further update as we receive and process assay results.”

Drill core is transported to a facility in Val d’Or where it is logged, photographed, and sampled. Once logging is complete, samples of half core are prepared and will be securely shipped to Bureau Veritas Laboratories in Timmins for processing and analysis, an ISO 17025 certified facility. The Company has established a QA/QC program consisting of inserting quality control (QC) samples at regular intervals in the sample stream, including blanks, duplicates, and reference materials. Samples are anywhere from 0.30 m to 2 m long and commonly ~1 m long. Specific Gravity (SG) measurements are taken every 10 m outside of the shear zone and 5 m within the zone.

About the Destiny Project

• Option to acquire 100% ownership.
• Located in the historic, mineral rich Abitibi Greenstone Belt.
• Gold mineralization occurs in high-grade quartz veins within shear zones starting at 15 m below surface.
• Drilling results include:
  • 167 g/t Au over 1 m (from 221.7 m)
  • 6.15 g/t Au over 23.6 m (from 117.2 m)
  • 19.49 g/t Au over 2.7 m (from 166.0 m)
• The Historical Estimate at the DAC Zone is open along strike with only coarse drilling denoting high grade intercepts outside of the 2011 Historical Estimate area showing expansion potential along strike from the DAC Zone over approximately 2.5 km to the Darla Zone.
• Excellent infrastructure – ~75 km NNE of Val d’Or with road access.
• Considerable work done historically including over 50,000 m of diamond drilling.

The Destiny Project is located in the prolific Abitibi Greenstone Belt where more than 190 million ounces of gold have been produced historically along major structural breaks within the assemblage of Archean-age volcanic, sedimentary and intrusive rocks. The Destiny Project lies along the approximately 400 km long Chicobi Deformation Zone, a major structural break which is largely underexplored in the Abitibi Greenstone Belt.

The 5,013 ha project includes the DAC Zone, one of several gold zones along an approximately 6 km long segment of the Despinassy Shear Zone within the Chicobi Deformation Zone. Approximately 2.5 km east along strike of the DAC Zone is the Darla Zone. In between the Darla and DAC is the coarsely drilled GAP zone where 2012 drilling intercepted anomalous gold in all 12 holes which were spaced 100 m apart.

The current exploration potential is based on decades of past work on the Destiny Project. Exploration of the Destiny Project dates back to the 1930s. The first concerted diamond drilling campaign commenced in 1998.

Previous work on the property can be summarized as follows:

• 172 Diamond drill holes comprising approximately 50,400 m
  
• Reconnaissance till sampling from 11 Sonic drill holes
  
• 2,430 MMI geochemical samples
  
• 982 line km of airborne VTEM surveys
  
• 171 line km of ground magnetics surveys
  
• 128 line km of IP

Qualified Person

Mr. Rory Kutluoglu P. Geo., a member of the advisory board and a consultant of the Company, is the Qualified Person (“QP”) under NI 43-101 for the technical information in this news release and has verified the data disclosed for the Destiny Project and approves the technical contents contained in this news release.

About Clarity

Clarity Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold projects in Canada. The Company has entered into an option agreement to purchase 100% of the Destiny Project, Clarity’s flagship asset, a gold-focused project in the mineral rich Abitibi region in Quebec. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “CLAR”. To learn more about Clarity Gold Corp. and its projects please visit www.claritygoldcorp.com.

ON BEHALF OF THE BOARD
“James Rogers”
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: info@claritygoldcorp.com
Website: claritygoldcorp.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: that the first drilling will confirm historic drilling results and provide continuous assays across the mineralized zone where previous drilling only sampled specific intervals; that the drilling will extend mineralization to depth in the DAC zone and along the Gap and Darla Zones; and that the Company will complete the planned initial 10,000m drilling program.

The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including: that the drilling may not go as planned or start when expected; that the Company may experience difficulties in drilling and carrying out related work; changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; the risk that the Company may lose access to the property; the risks that the Company may not find any minerals in commercially feasible quantities; that the Company may not raise enough money to fund its exploration plans; uncertainty of development plans and cost estimates; commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations; the state of the capital markets; uncertainty in the measurement of mineral reserves and resource estimates; the Company’s ability to attract and retain qualified personnel and management; potential labour unrest; uncertainty as to reclamation and closure requirements for its mineral properties; unpredictable risks and hazards related to the exploration and development and operation of a mine or mineral property that are beyond the Company’s control; and other risks and uncertainties identified under the heading “Risk Factors” in the Company’s continuous disclosure documents filed on SEDAR. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly 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 as required by applicable law.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

FAQ

What is the update on Clarity Gold Corp.'s drilling program as of April 2021?

Clarity Gold Corp. reported progress on its 10,000 m drilling program at the Destiny Project, with about 2,300 m of drill core processed, confirming mineralization in the DAC Zone.

What gold intercepts were reported in the recent Clarity Gold Corp. press release?

Recent drilling at Clarity Gold Corp.'s Destiny Project reported gold intercepts up to 167 g/t Au over 1 m.

Where is Clarity Gold Corp.'s Destiny Project located?

The Destiny Project is located in the Abitibi Region of Quebec, Canada, known for its rich mineral deposits.

What is the significance of the DAC Zone for Clarity Gold Corp.?

The DAC Zone is critical as it shows high-grade gold mineralization and historic data that supports further exploration.

What is the timeframe for the drilling program at Clarity Gold Corp.'s Destiny Project?

The 10,000 m drilling program is ongoing, with updates expected as assay results are processed.