Gaia Metals Completes 3-day Follow-up Field Program at the Carmen Creek Prospect, Freeman Creek Gold Property, Idaho, USA

Rhea-AI Summary

Gaia Metals Corp. has completed a 3-day follow-up prospecting and rock sampling program at the Carmen Creek Prospect on its Freeman Creek Gold Property in Idaho. The program aimed to expand on high-grade rock samples previously collected, finding mineralization ranging from 2.0 to 25.5 g/t Au, 10 to 269 g/t Ag, and up to 32% Cu. The company is now entering the permitting stage for an inaugural diamond drill program, marking the prospect's first drilling attempt. The results of the geochemical analysis from the recent sampling are awaited, stirring positive anticipation among stakeholders.

Positive

• High-grade mineralization identified in samples ranging from 2.0 to 25.5 g/t Au.
• Initial prospecting has outlined a substantial mineralized corridor, at least 1.2 km long and 200 m wide.
• The company is entering the permitting process for a diamond drill program, indicating potential growth and exploration.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / November 10, 2020 / Gaia Metals Corp. (the "Company") (TSXV:GMC)(OTCQB:RGDCF)(FSE:R9G) is pleased to announce that is has completed a 3-day follow-up prospecting and rock sampling program at the Carmen Creek Prospect, located on the Freeman Creek Gold Property (the "Property"). The Property is located approximately 15 km northeast of Salmon, Idaho, and hosts excellent access via paved highway and a network of gravel roads and trails.

The objective of the 3-day program was to follow-up and expand upon the high-grade rock samples collected along the Carmen Creek Trend during the recently completed August 2020 surface exploration program on the Property; specifically, the Gallifrey Showing (2.02 g/t Au, 31.8 g/t Ag, and 0.76% Cu ), the Tardis Showing (25.5 g/t Au, 159 g/t Ag, and 9.75% Cu), and the Daleks Showing (2.00 g/t Au, 269 g/t Ag, and 11.4% Cu) (see news releases dated September 10^th and October 13^th, 2020). See Figure 1 below.

A total of 48 rock samples were collected over the northwest and southeastern areas of the Carmen Creek Trend. All samples have been received by the lab and geochemical analysis is pending. Several new areas hosting favourable mineralogy were discovered and sampled (Figures 2 and 3). Collectively, based on field observations and sample mineralogies, the Company is very encouraged and eagerly awaits results of sample analysis.

Mineralization along the Carmen Creek Trend is marked by numerous samples that range in grade from 2.0 to 25.5 g/t Au, 10 to 269 g/t Ag, and 0.13 to 32% Cu. The mineralization is characterized by chlorite mica-schists with quartz veining, magnetite, and common malachite and sulphides (bornite, chalcopyrite, pyrite). Initial field prospecting outlines a central mineralized zone (oriented ~135°/65°) of at least 1-2 m width, with vein stockworks extending 5 to 10 m into the adjacent host rock, which forms part of a larger mineralized corridor at least 1.2 km long by 200 m wide. The trend remains underexplored and has only been evaluated at a reconnaissance scale by the Company.

Drill Permitting

The Company has started the permitting process for an inaugural diamond drill program at Carmen Creek and is actively assessing drill hole locations and access. The Carmen Creek Prospect has never been drill tested and its depth extent is not known. The potential of this prospect has been enhanced considerably following the completion of the 2020 surface exploration.

Figure 1: Carmen Creek Prospect

Figure 2: Malachite staining in outcrop (sample 147958)

Figure 3: Malachite staining in talus (sample 147957)

NI 43-101 Disclosure

Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration for the Company and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

About Gaia Metals Corp.

Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals, including platinum group elements, and lithium.

The Company's flagship asset is the Freeman Creek Gold Property, located in Idaho, USA. The Property hosts two major advanced targets; the Gold Dyke Prospect, with an historical drill intercept of 1.5 g/t Au and 12.1 g/t Ag over 44.2 m (RDH 8), and the Carmen Creek Mine Prospect, with an historical outcrop sample assay of 14.15 g/t Au, 63 g/t Ag, and 1.2% Cu.

Additional assets include the wholly owned Corvette Property, and the FCI Property (held under Option from O3 Mining Inc.) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.

In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.

For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950, E-mail: adrian@gaiametalscorp.com or visit www.gaiametalscorp.com.

On Behalf of the Board of Directors,

"ADRIAN LAMOUREUX"

Adrian Lamoureux, President & CEO

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.

Forward Looking Statements:

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

SOURCE: Gaia Metals Corp.

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FAQ

What were the results of Gaia Metals' recent sampling program at Carmen Creek?

The recent sampling program identified high-grade mineralization, with rock samples showing grades from 2.0 to 25.5 g/t Au, 10 to 269 g/t Ag, and up to 32% Cu.

What is the significance of the Carmen Creek Prospect for Gaia Metals?

The Carmen Creek Prospect is significant as it has revealed a substantial mineralized corridor and is set for its first drilling campaign, enhancing the company's exploration potential.

When will Gaia Metals begin its diamond drilling at Carmen Creek?

Gaia Metals has started the permitting process for its inaugural diamond drill program at Carmen Creek, indicating that drilling may commence soon after permits are secured.

What is the location of the Freeman Creek Gold Property?

The Freeman Creek Gold Property, which includes the Carmen Creek Prospect, is located approximately 15 km northeast of Salmon, Idaho.

How many rock samples were collected in the recent prospecting program at Carmen Creek?

A total of 48 rock samples were collected during the 3-day prospecting program at the Carmen Creek Prospect.