St. Anthony Gold Corp. Drills 42.68 Grams Au over 3.7 Meters at St. Anthony Gold Mine Property

Rhea-AI Summary

St. Anthony Gold Corp. (CSE:STAG, OTC PINK:MTEHF) announced promising assay results from its Phase One diamond drilling program at the St. Anthony gold mine in Ontario. The latest drill hole, SA21-18, revealed significant gold intersections, including 42.68 grams per tonne over 3.7 meters, with a peak of 314 grams per tonne over 0.5 meters. The company is ramping up operations now that the MNRF Emergency Area Order has been lifted, focusing on preventing wildfires during drilling. The historical St. Anthony mine produced over 63,000 ounces of gold.

Positive

• Significant gold intersections in drill hole SA21-18, including 42.68 grams per tonne over 3.7 meters.
• The company is remobilizing operations after the lifting of the MNRF Emergency Area Order.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / August 24, 2021 / St. Anthony Gold Corp. ("St. Anthony" or the "Company") (CSE:STAG)(Frankfurt:M1N)(OTC PINK:MTEHF) is pleased to announce assay results from its continuing Phase One diamond drilling program on the St Anthony gold mine property located in the Kenora-Patricia Mining District, Ontario.

HIGHLIGHTS:

Hole SA21-18 is the fourth hole of the program and the second twinned hole intersecting:

• 3.71 grams per tonne Au over 2 m at 183 m down the drill hole,
• 3.09 grams per tonne Au over 3 m at 210 m down the drill hole and,
• 42.68 grams per tonne Au over 3.7 m at 327.3 m down the drill hole.
  • Including 314 grams per tonne Au over 0.5 m.
    • 10.6 grams per tonne Au over 1 m at 352 m down the drill hole.

UPDATE ON THE PROGRAM:

• The company is remobilizing staff and contractors back onto St Anthony gold mine property now that the MNRF Emergency Area Order has been lifted.
• Going forward the goal is to ensure that drilling operations are conducted in a manner that prevents wildfires from starting by modifying company's activities to minimize the risk.
• Metallic screen fire assay (Au-SCR21) of the high-grade 314 grams per tonne intercept in SA21-18 is underway at ALS Global Laboratories).

The two main zones t St. Anthony consist of Zone 1 and Zone 2. Zone 1 is broadly defined over a strike length of 350 metres, with a minimum depth of 200 metres and a true width averaging about 8 metres, based on past production. Historical production focused solely on the vein material and not the adjacent mineralized wallrock.

Drilling contract and analytical protocols:

The drilling contract was awarded to Full Force Diamond Drilling Ltd. of Peachland, British Columbia. Drill core samples will be sent to ALS Global of Thunder Bay for gold (Au-AA23) and multi-element (ME-MS61) analysis plus spectral mineralogy data will be collected from selected samples through the mineralized envelope to assist in vectoring to additional gold bearing
structures. St. Anthony Gold Corp. applies industry-standard quality assurance/quality control procedures to the program. Certified reference materials, blanks and field duplicates are included in all drill core batches sent to the laboratory.

ABOUT THE ST. ANTHONY GOLD PROJECT:

The St. Anthony Gold Mine is located in the Kenora-Patricia Mining District of Ontario and encompasses four historical mining operations including the largest past-producing mine in the area, the St. Anthony. The mine produced 63,310 ounces of gold from 332,720 tons for an average grade of 5.95 grams per tonne (or 0.191 ounces per ton) up until World War II when gold production was halted. (source: Technical Report on the St. Anthony and Best/King Bay Properties, prepared by Graeme Evans BSc, PGeo, June 16, 2015). The property consists of 233 contiguous claims totaling 4,224 hectares (42.24 sq. km). In addition to the historical underground workings over 20 gold (-silver) occurrences have been documented, some hosting visible gold, many of which have seen little if any exploration work for several decades. Previous workers in the area include Aubet, Can Con and Falconbridge, companies that carried out work focused on the bulk tonnage potential of a mineralized area hosted within a quartz-feldspar porphyry intrusive located within the property. The St. Anthony Gold Project is located 85 km east of the town of Sioux Lookout, or 13 km south of the smaller town of Savant Lake.

Andrew Tims obtained his B.Sc. in Geology from Carleton University in Ottawa, Ontario, and is a Registered Professional Geologist in Ontario and Manitoba and a Qualified Person under NI 43-101. He has reviewed and approved the technical contents of this news release.

ABOUT ST. ANTHONY GOLD CORP.

St. Anthony Gold Corp, a Canadian-based mineral exploration corporation, is focused on identifying and advancing high-value mineral properties.

FOR ADDITIONAL INFORMATION SEE THE COMPANY'S WEB SITE AT

https://stanthonygoldcorp.com
Email to info@stanthonygoldcorp.com
Contact: Peter Wilson CEO - 604-649-0945

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information about the Company is available on www.SEDAR.com under the Company's profile.

Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

SOURCE: St. Anthony Gold Corp.

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FAQ

What were the assay results from St. Anthony Gold Corp's latest drilling at MTEHF?

Drill hole SA21-18 showed significant intersections, including 42.68 grams per tonne over 3.7 meters.

When did St. Anthony Gold Corp. lift the Emergency Area Order?

The Emergency Area Order was lifted recently, allowing the company to remobilize staff and contractors.

What is the historical gold production of the St. Anthony mine?

The St. Anthony mine produced over 63,000 ounces of gold before World War II.

What is the gold grade from the latest drilling results at MTEHF?

The latest drilling results included concentrations of up to 314 grams per tonne in drill hole SA21-18.