Two New Reduced Intrusive (RIRGS) Targets, Totalling Four, Identified at Tombstone Belt, Yukon - Gold Orogen, New Spin Co of Lode Gold
Lode Gold Resources has identified two new Reduced Intrusive Related Gold System (RIRGS) targets, 'Stingray' and 'Camp', on its Golden Culvert property in Yukon, bringing the total RIRGS targets to four. The Golden Culvert property features a 15 km long gold anomaly, of which only 800m has been drill-tested. The 'Stingray' target centers around a Tombstone-tungsten quartz monzonite intrusion, while the 'Camp' target has yielded rock grab samples up to 48.1 g/t Au. The company also corrected a previous technical report, noting that the best drill interval was 2.53 g/t Au over 33.1m from hole GC18-03, not 12.53 g/t as initially reported.
Lode Gold Resources ha identificato due nuovi obiettivi legati ai sistemi auriferi intrusivi ridotti (RIRGS), 'Stingray' e 'Camp', nella sua proprietà Golden Culvert nello Yukon, portando il totale degli obiettivi RIRGS a quattro. La proprietà Golden Culvert presenta un anomalia aurifera lunga 15 km, di cui solo 800 m sono stati sottoposti a perforazione. L'obiettivo 'Stingray' si concentra su un'intrusione di monzonite di quarzo tombstone-tungsteno, mentre l'obiettivo 'Camp' ha fornito campioni di roccia con valori fino a 48.1 g/t Au. L'azienda ha anche corretto un precedente rapporto tecnico, notando che il miglior intervallo di perforazione era 2.53 g/t Au su 33.1m dal foro GC18-03, e non 12.53 g/t come inizialmente riportato.
Lode Gold Resources ha identificado dos nuevos objetivos de Sistema de Oro Relacionado con Intrusiones Reducidas (RIRGS), 'Stingray' y 'Camp', en su propiedad Golden Culvert en Yukon, aumentando el total de objetivos RIRGS a cuatro. La propiedad Golden Culvert presenta una anomalía de oro de 15 km de largo, de la cual solo se han probado 800 m de perforación. El objetivo 'Stingray' se centra en una intrusión de monzonita de cuarzo tombstone-tungsteno, mientras que el objetivo 'Camp' ha arrojado muestras de roca de hasta 48.1 g/t Au. La compañía también corrigió un informe técnico anterior, señalando que el mejor intervalo de perforación fue 2.53 g/t Au sobre 33.1m del hoyo GC18-03, no 12.53 g/t como se había informado inicialmente.
Lode Gold Resources는 유콘에 위치한 Golden Culvert 소유지에서 'Stingray'와 'Camp'라는 두 개의 새로운 축소 관련 금 시스템(RIRGS) 목표를 확인하여 전체 RIRGS 목표를 네 개로 늘렸습니다. Golden Culvert 소유지는 15km 길이의 금 이상현상을 보이며, 그 중 단 800m만이 드릴 테스트되었습니다. 'Stingray' 목표는 톰스톤-텅스텐 석영 몬조나이트 침입을 중심으로 하고 있으며, 'Camp' 목표는 최대 48.1 g/t Au의 암석 샘플을 생성했습니다. 이 회사는 이전 기술 보고서를 수정하여, 가장 좋은 드릴 간격이 2.53 g/t Au, 33.1m에서 나왔다는 점을 언급하며, 초기 보고된 12.53 g/t가 아님을 밝혔습니다.
Lode Gold Resources a identifié deux nouvelles cibles liées au Système Aurifère Intrusif Réduit (RIRGS), 'Stingray' et 'Camp', sur sa propriété Golden Culvert au Yukon, portant le total des cibles RIRGS à quatre. La propriété Golden Culvert présente une anomalie aurifère de 15 km de long, dont seulement 800 m ont été testés par forage. La cible 'Stingray' se concentre autour d'une intrusion de monzonite de quartz tombstone-tungstène, tandis que la cible 'Camp' a donné des échantillons de roche allant jusqu'à 48,1 g/t Au. L'entreprise a également corrigé un rapport technique précédent, notant que le meilleur intervalle de forage était de 2,53 g/t Au sur 33,1 m du trou GC18-03, et non pas 12,53 g/t comme initialement rapporté.
Lode Gold Resources hat zwei neue Ziele im Zusammenhang mit einem Reduzierten Intrusiven Goldsystem (RIRGS), 'Stingray' und 'Camp', in seiner Golden Culvert-Liegenschaft im Yukon identifiziert, wodurch die Gesamtzahl der RIRGS-Ziele auf vier ansteigt. Die Golden Culvert-Liegenschaft weist eine 15 km lange Goldanomalie auf, von der bislang nur 800 m durch Bohrungen getestet wurden. Das Ziel 'Stingray' konzentriert sich auf eine Tombstone-Tungsten-Quarzmonzonit-Intrusion, während das Ziel 'Camp' bis zu 48,1 g/t Au Gesteinsproben geliefert hat. Das Unternehmen hat auch einen früheren technischen Bericht korrigiert und angemerkt, dass der beste Bohrintervall 2,53 g/t Au über 33,1 m aus dem Loch GC18-03 betrug, nicht 12,53 g/t wie zunächst berichtet.
- Discovery of two new RIRGS targets expanding exploration potential
- Property contains extensive 15 km long gold anomaly
- High-grade rock grab samples up to 48.1 g/t Au at Camp target
- Previous drilling showed significant intercept of 2.53 g/t Au over 33.1m
- Only 800m of 15 km anomaly has been drill-tested
- Correction of previously reported drill results from 12.53 g/t to 2.53 g/t Au
Toronto, Ontario--(Newsfile Corp. - November 13, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce the results of our ongoing interpretation of data collected during the summer 2024 QMAGT survey.
Importantly, two additional RIRGS targets "Stingray" and "Camp" have been defined on the Golden Culvert property as a direct result of incorporating the new geophysical data with existing geochemical datasets. These new targets complement the RIRGS targets already identified (a total of four highly prospective RIRGS targets, namely "Border", "Steelhead", "Stingray" and "Camp") by Gold Orogen, subsidiary of Lode Gold, on its nearby WIN property.
Field verification of both the "Stingray" and "Camp" targets is scheduled for next season whereby geologists will endeavour to confirm the presence of the targeted hornfels and/or intrusive suites while collecting geochemical data from soils and rocks in the area. The Golden Culvert property is remarkable in that it contains a 15 km long soil and stream multi-element Au, As, +/-Bi+/-Sb, +/-Pb, +/- Zn geochemical anomaly of which only a small 800 m section (called "Main") has seen drill testing. Prior exploration at Golden Culvert has already successfully demonstrated an extensive gold bearing, anastomosing quartz vein system hosted in meta-sediments considered to be an orogenic style of gold mineralization. The newly identified RIRGS targets significantly enhance the overall endowment potential at Golden Culvert, building upon the already considerable potential identified from the established orogenic styles of mineralization concentrated at the "Main" site, which have historically been the primary focus of exploration within this vast, high potential area.
Highlights include:
Recent QMAGT system geophysical results integrated with geology and historic geochemical information has identified two new RIRGS prospects on the Golden Culvert property, named "Stingray" and "Camp".
The Golden Culvert property contains a remarkable 15 km long series of gold in soil anomaly trending NW parallel to the regional structural fabric. One 800 m zone has been drilled tested, the "Main" target, (*best result of 2.53 g/t Au over 33.1 m) the remainder is under-explored.
''Stingray`` prospect is centred around a mapped Tombstone-tungsten quartz monzonite intrusion on the southern boundary. The QMAGT survey data suggests the intrusion is larger than mapped and most likely continues under a carapace of hornfels. Minimal historical work has been conducted in the past. There are stream sediments elevated in gold, arsenic and sulphur and a small soil grid evidenced anomalous arsenic.
"Camp" prospect is a well-developed zone of soil and rock samples with anomalous gold and arsenic (up to x g/t Au). The QMAGT survey has revealed this geochemical anomaly arcs to the SE of a distinct magnetic low. The magnetic anomaly is interpreted to be a previously unmapped reduced intrusive.
Fieldwork is scheduled to initially map the extent of hornfels and intrusive, with soil and rock sampling to confirm and enhance the prospectivity of our projects.
The news release dated October 15, 2024, focused on the RIRGS potential of the WIN property and gave details on the Reduced Intrusive Related Gold System model and the regional setting. For more information regarding RIRGS, please view the press release. In summary, based on the RIRGS model, the main exploration target is sheeted gold bearing quartz veins hosted in the cupola (roof) of a reduced intrusion or in the surrounding hornfels (country rock altered by the heat of the intrusion). RIRGS exhibits metal zonation with Arsenic (+/- Au) in the periphery and Au, Bi, Te in the centre.
When interpreting the QMAGT data, for possible RIRGS, the prime criteria was the presence of a distinct magnetic low zone (the intrusive), often highlighted by an annular of magnetic highs, (the hornfels), backed up by geochemical evidence. Figure 1 shows the reduced-to-the-pole total field magnetic survey covering the entire Golden Culvert property, with the newly identified "Stingray" and "Camp" targets highlighted.
Figure 1 (left): Total magnetic field colour grid, showing the location of the RIRGS targets
Figure 2 (right): Golden Culvert Regional geology
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https://images.newsfilecorp.com/files/4064/229848_5d47b756f4222b9d_001full.jpg
This target is centred on a known, yet unnamed, quartz monzonite intrusion of the Tombstone-Tungsten Cretaceous intrusive suite, as it appears on the published regional geology maps (see Figure 2). Figure 3 shows the RTP total magnetic field image over this intrusion and it clearly suggests it is larger than mapped (dotted line in Figure 3), possibly diving under a roof of hornfel sediments, represented by magnetic high zones. The stream draining this area exhibits elevated Gold, Arsenic Bismuth and Sulphur; additionally, a small soil grid has a coherent arsenic anomaly. The source of the gold anomaly in the stream has not been identified and the potential area of the large zone of hornfels interpreted from the magnetics requires mapping, soil and rock sampling.
Figure 3. The "Stingray" target. Left image: Total magnetic field in colour, the dotted white line shows the interpreted edge of the monzonite intrusion base and hornfels carapace on the magnetics. Right image: Gives the geochemistry, elevated gold and sulphur in the streams and elevated arsenic in the soils (black dots are soil sample sites).
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https://images.newsfilecorp.com/files/4064/229848_5d47b756f4222b9d_002full.jpg
The "Camp" Target
The "Camp" target is a distinct magnetic low interpreted from a previously unknown reduced intrusive (See Figure 4). It occurs in a river valley in an area of low topography, and it may not be an outcrop. On the SE side of this magnetic low is an arc of anomalous soil and rock geochemistry that made up the previously recognized "Camp" prospect.
The "Camp" prospect has returned rock grab samples of up to 48.1 g/t Au from a quartz vein with some sulphides hosted within phyllites. The rock grab samples are nested in a coincident gold, arsenic, and lead soil anomaly.
The elevated geochemistry is a distal expression of a possible RIRGS represented by the magnetic anomaly. Field crews will be directed to the area to search for hornfels and/or intrusives to confirm any RIRGS affinity.
Figure 4: The "Camp" RIRGS target (left) shows a white dotted line around the 120 nt mag low interpreted as a possible reduced intrusion. The total magnetic field is presented in colour on the left. The right image shows the geochemical results over the same area. Bubbles are sized to gold results. The orange represents the soil sample numbers, and the yellow represents the rock samples - the larger the circle, the higher the grade. The highest gold result from rock samples is 48.1 g/t. Grey digital elevation background, the interpreted intrusion is in a flat valley and may not outcrop or be suitable for soil samples.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/229848_5d47b756f4222b9d_003full.jpg
Future Plans
The 2025 field season plans are detailed after comprehensive analysis, consisting of geochemical information, geological mapping and extensive QMAGT data. The "Stingray" and "Camp" targets presented here are amenable to rapid reconnaissance to confirm the presence of intrusives and hornfels. Confirmation of this will present new RIRGS prospects that were previously unexplored on the Golden Culvert property.
Filing on SEDAR+:
Lode Gold has filed on SEDAR+ an amended NI 43-101 technical report (the "Report") on its Golden Culvert and WIN properties in the Yukon Tombstone Gold Belt. The report was initially filed on July 15, 2024. A typographic error was noticed in the original, stating that the best drill interval on the Golden Culvert property was 12.53 g/t Au over 33.1 m from 111.5 m in hole GC18-03, whereas the actual result was 2.53 g/t Au over 33.1 m from 111.5 m in hole GC18-03. The amended report corrects this error.
Both the original and amended reports were authored by Marty Huber, P. Geo. and Mark Fekete, P. Geo.
ABOUT LODE GOLD
Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.
Its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold. A NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold" with an effective date of May 15, 2024, summarizing the work to date on these properties is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com).
In New Brunswick, Lode Gold has created one of the largest land packages with a 42km strike within 420km2. Its McIntyre Brook Project, New Brunswick, covering 111 km2 and a 17-km strike length in the emerging Appalachian/Iapetus Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m)1 and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. The Fancamp's Riley Brook is a 309 km2 package covering a 25 km strike of Wapske formation with its numerous felsic units. Previous exploration efforts have focused on just VMS-style mineralization hosted in the felsic intrusions, and mostly focused on the base metals - the Company is the first to focus on and assay for gold. A NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold", summarizing the work to date on these properties is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com).
The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a Preliminary Economic Assessment ("PEA") with an after-tax NPV (
Please refer to the Fremont Gold project NI 43-101 PEA technical report dated March 31, 2023, which is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com). The PEA technical report has been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.
QUALIFIED PERSON STATEMENT
The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.
ON BEHALF OF THE COMPANY
Wendy T. Chan, CEO & Director
Information Contact
Winfield Ding
CFO
info@lode-gold.com
+1-416-915-4257
Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702
Cautionary Note Related to this News Release and Figures
This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
Cautionary Statement Regarding Forward-Looking Information
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 release.
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.
There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229848
FAQ
What are the new RIRGS targets discovered by Lode Gold (SBMIF) in November 2024?
What was the best drill result at Golden Culvert property for Lode Gold (SBMIF)?
What was the highest grade rock sample found at the Camp target for Lode Gold (SBMIF)?
