Signature Resources Reports Final Results for the 2024 Drilling Program Highlighted by a new Drill Intercept of 51 Metres with an Average Grade of 1.81 g/t Gold from LM24-09 in the South Zone
Signature Resources (SGGTF) has announced final results from its 2024 drilling program at the Lingman Lake gold deposit. The program's highlight includes a new drill intercept of 51 metres averaging 1.81 g/t gold from LM24-09 in the South Zone, including 14m at 3.6 g/t Au.
The 2024 program consisted of 14 diamond drill holes totaling 4,736 metres, successfully extending mineralization west of the north-south trending dyke. Notable results include LM24-10 returning 34m at 1.8 g/t Au, including 6m at 7.7 g/t Au. The program confirmed larger near-surface gold mineralization and validated targets identified through AI interpolation.
The company expects to release its initial NI 43-101 resource estimate in spring 2025. The drilling has only covered 1.5 kilometers of the 32km wide greenstone belt and reached depths of only 200m, suggesting significant exploration potential remains.
Signature Resources (SGGTF) ha annunciato i risultati finali del suo programma di perforazione 2024 presso il giacimento aurifero di Lingman Lake. Il punto saliente del programma include un nuovo intersezione di perforazione di 51 metri con una media di 1,81 g/t di oro da LM24-09 nella Zona Sud, compresi 14m a 3,6 g/t Au.
Il programma del 2024 ha consistito in 14 fori di perforazione a diamante per un totale di 4.736 metri, estendendo con successo la mineralizzazione a ovest della dike che si sviluppa in direzione nord-sud. Risultati notevoli includono LM24-10 che ha restituito 34m a 1,8 g/t Au, compresi 6m a 7,7 g/t Au. Il programma ha confermato una mineralizzazione aurifera più ampia vicino alla superficie e ha convalidato gli obiettivi identificati attraverso l'interpolazione AI.
L'azienda prevede di rilasciare la sua stima iniziale delle risorse NI 43-101 nella primavera del 2025. La perforazione ha coperto solo 1,5 chilometri dei 32 km di larghezza della cintura di rocce verdi e ha raggiunto profondità di soli 200m, suggerendo che rimane un potenziale di esplorazione significativo.
Signature Resources (SGGTF) ha anunciado los resultados finales de su programa de perforación 2024 en el depósito de oro Lingman Lake. El aspecto más destacado del programa incluye una nueva intersección de perforación de 51 metros con un promedio de 1.81 g/t de oro de LM24-09 en la Zona Sur, incluyendo 14m a 3.6 g/t Au.
El programa de 2024 consistió en 14 agujeros de perforación de diamante que suman 4,736 metros, extendiendo con éxito la mineralización al oeste de la dike que se extiende de norte a sur. Los resultados notables incluyen LM24-10 que devuelve 34m a 1.8 g/t Au, incluyendo 6m a 7.7 g/t Au. El programa confirmó una mayor mineralización de oro cerca de la superficie y validó los objetivos identificados a través de la interpolación de IA.
La empresa espera publicar su estimación inicial de recursos NI 43-101 en la primavera de 2025. La perforación solo ha cubierto 1.5 kilómetros de los 32 km de ancho del cinturón de rocas verdes y ha alcanzado profundidades de solo 200m, lo que sugiere que aún queda un potencial significativo de exploración.
Signature Resources (SGGTF)는 Lingman Lake 금 매장지에서 2024년 시추 프로그램의 최종 결과를 발표했습니다. 프로그램의 주요 내용은 남부 지역의 LM24-09에서 1.81 g/t 금 평균의 51미터 시추 절단을 포함하며, 이중 14미터는 3.6 g/t Au입니다.
2024년 프로그램은 총 4,736미터에 해당하는 14개의 다이아몬드 시추 구멍으로 구성되어 있으며, 남북 방향의 다이크 서쪽으로 광물화를 성공적으로 확장했습니다. 주목할 만한 결과로는 LM24-10이 1.8 g/t Au에서 34미터를 반환했으며, 이중 6미터는 7.7 g/t Au입니다. 프로그램은 더 큰 지표 근처 금 광물화를 확인하고 AI 보간을 통해 확인된 목표를 검증했습니다.
회사는 2025년 봄에 NI 43-101 초기 자원 추정치를 발표할 계획입니다. 시추는 32km 폭의 녹색암대 중 1.5킬로미터만을 커버했으며, 깊이는 200미터에 불과해 상당한 탐사 잠재력이 남아 있음을 시사합니다.
Signature Resources (SGGTF) a annoncé les résultats finaux de son programme de forage 2024 au gisement d'or de Lingman Lake. Le point fort du programme comprend un nouveau carottage de 51 mètres avec une moyenne de 1,81 g/t d'or de LM24-09 dans la zone sud, y compris 14m à 3,6 g/t Au.
Le programme 2024 a consisté en 14 forages en diamant totalisant 4 736 mètres, prolongeant avec succès la minéralisation à l'ouest de la digue orientée nord-sud. Les résultats notables incluent LM24-10 qui a retourné 34m à 1,8 g/t Au, y compris 6m à 7,7 g/t Au. Le programme a confirmé une plus grande minéralisation d'or près de la surface et a validé les cibles identifiées par interpolation par IA.
L'entreprise prévoit de publier sa première estimation des ressources NI 43-101 au printemps 2025. Le forage n'a couvert que 1,5 kilomètres des 32 km de large ceinture de roches vertes et a atteint des profondeurs de seulement 200m, ce qui suggère qu'un potentiel d'exploration significatif demeure.
Signature Resources (SGGTF) hat die endgültigen Ergebnisse seines Bohrprogramms 2024 im Goldvorkommen Lingman Lake bekannt gegeben. Das Highlight des Programms umfasst einen neuen Bohranschnitt von 51 Metern mit einem Durchschnitt von 1,81 g/t Gold aus LM24-09 in der Südzone, einschließlich 14m bei 3,6 g/t Au.
Das Programm 2024 bestand aus 14 Diamantbohrlöchern mit einer Gesamtlänge von 4.736 Metern, die erfolgreich die Mineralisierung westlich des nordsüdlich verlaufenden Dykes ausdehnten. Bemerkenswerte Ergebnisse umfassen LM24-10, das 34m bei 1,8 g/t Au zurückgibt, einschließlich 6m bei 7,7 g/t Au. Das Programm bestätigte eine größere Goldmineralisierung in der Nähe der Oberfläche und validierte Ziele, die durch KI-Interpolation identifiziert wurden.
Das Unternehmen erwartet, seine erste NI 43-101-Ressourcenschätzung im Frühjahr 2025 zu veröffentlichen. Die Bohrungen haben nur 1,5 Kilometer des 32 km breiten Grünsteingürtels abgedeckt und erreichten Tiefen von nur 200m, was darauf hindeutet, dass erhebliches Erkundungspotenzial bleibt.
- New high-grade intercept of 51m @ 1.81 g/t Au in South Zone
- Successful extension of mineralization westward
- Maiden NI 43-101 resource estimate expected Spring 2025
- AI-identified targets validated through drilling
- Deposit remains open in all directions with only 1.5km of 32km belt explored
- depth exploration (only to 200m)
- Some drill holes showed lower grade mineralization (0.34-0.48 g/t Au)
Toronto, Ontario--(Newsfile Corp. - February 18, 2025) - Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S30) ("Signature" or the "Company") is pleased to provide the final assay results of its 2024 drill program which again highlighted a larger halo of near surface mineralization. The drill results from holes west of the north-south trending dyke which bisects the zones, extended the mineralization to the west and successfully tested areas of interest identified by Artificial Intelligence ("AI") interpolation in our geologic model. This was confirmed by intersections in the South Zone for diamond drill holes ("DDH") LM24-09 and LM24-10. Drill hole LM 24-09 returned 1.81 grams per tonne of gold ("g/t Au") over 51 metres ("m") which includes 14 m with an average grade of 3.6 g/t Au. Drill hole LM24-10 returned 34 m with an average grade of 1.8 g/t Au, including six metres with an average grade of 7.7 g/t Au. The Company is also announcing results from four drillholes further to the west that encountered mineralization in the West Zone and extended the zone westward with results from drill hole LM 24-14.
"I am very pleased that we have been able to complete all the assay work on our 2024 drill program and can say our work programs have successfully met our goals of defining a larger, near surface gold halo. The four drill holes designed to test the AI identified gaps in our database were successful. We have seen an extensive expansion of the mineralized gold halo on the property which is supportive of the shallow resource being tested. In addition, our knowledge of the control structures of the deposit has also improved. With all this work complete, we can now move forward with our initial NI 43-101 resource which is expected to be released this spring. This will be a significant step in demonstrating the potential of the Lingman Lake gold deposit which remains open in all directions. We look forward to gaining geological insights as the new information is compiled into the resource model. These new drill results continue to show potential to extend laterally and its exciting to consider that we have only drilled to a depth of 200 m where many NW Ontario deposits continue much deeper."
- J. Dan Denbow, CFA - President, CEO and Director
As previously announced, the Company's 2024 drill program consisted of 14 DDH's for a total of 4,736 metres of drilling. The drilling program was carefully designed to improve our knowledge of the Lingman Lake gold deposit, fill identified data gaps and test new targets identified in our updated geologic model completed earlier this year. The drill program included continuous core assaying for the entire length of each hole, thereby providing total lithological gold distribution, giving us a much more complete data package about the mineralization contained in and outside the mineralized zones.
Figure 1 is the surface view of all the drillholes completed in the 2024 drill program (yellow drill traces) relative to the historical drilling beginning in 1987 up to 2021. All new drilling information and assays are being incorporated into the database to expand and build the Lingman Lake deposit model. All the necessary field work and verification at the project site required for the resource estimate has been completed by the independent geologists and the data has been handed over for analysis for the resource statement and updating the geologic model. The resource estimate is being undertaken by the independent geologic consulting firm of Watts, Griffis and McQuat Limited (WGM). All of this new data will be used to generate a maiden NI 43-101 resource this spring. The resource is designed to provide a snapshot of the size and value of the Lingman Lake deposit as it remains open in all directions and represents a small percentage of the overall land package that stretches over 32 km strike length.
Figure 1: 2024 Drill Program
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Drilling results West of the Diabase Dyke
Figure 2 is the surface view of the drillholes west of the diabase dyke (yellow drill traces) relative to the historical drilling beginning in 1987 up to 2021. There were 6 DDH holes completed west of the dyke. Drill holes LM 24-09 and LM 24-10 were collared very near the diabase dyke and were designed to target an area identified with AI interpolation of the geologic model where additional drilling could successfully add to the model. Both of these holes were very successful in that they encountered a wide zone of mineralization extending the South Zone west of the dyke for 70 m. The remaining drillholes, LM 24-11, LM 24-12, LM 24-13 and LM 24-14 were drilled further to the west in the area of Shoe Lake and were targeting the western extension of the West Zone. All four holes encountered the West Zone and in addition three of the four zones also encountered a mineralized area that we believe could be part of the Central Zone. We are very pleased that these holes all encountered significant mineralization which correlate to strike extension of known zones.
Figure 2: Drilling West of Diabase Dyke
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LM 24-09
DDH LM 24-09 was collared at the margin of diabase dyke and drilled to the north at a 355 degree azimuth reaching total depth of 251 m. This hole had two distinct mineralized intersections in the South Zone of very good width. The first section was 35 m wide with an average grade of 2.25 g/t Au followed by 7 m of 1.93 g/t Au. These two sections were separated by 9 m. Combined, the South Zone intercept is 51 m with an average grade of 1.81 g/t Au. Within these broad mineralized sections there were a number of high- grade intercepts including 4 m with an average grade of 4.4 g/t Au and 6 m with an average grade of 5.34 g/t Au. This South zone mineralization was first intercepted at a drilling depth of 76 m. At 198 m depth hole intersected low grade mineralization of 0.42 g/t Au over 4 m, which is being interpreted to be the western extension of the Central Zone. While not significant from a grade perspective, it does indicate that a shear structure with sulphide mineralization is present where the Central Zone projects west of the dyke. See Table 1: Assay Results West of Diabase Dyke for further details of the drilling results.
LM 24-10
DDH LM 24-10 was drilled southwest at an azimuth of 225 degrees to a total drilling depth of 353 m. The results from this hole confirm the intercepts from LM 24-09 and increases the western strike extension from LM 24-09 by 35 m. Drill hole LM 24-10 intercepted 34 m with an average grade of 1.8 g/t Au. Within this mineralized intercept is a 21 m section with an average grade of 2.8 g/t Au which included one metre intercepts of 13.6 g/t Au, 8.1 g/t Au and 12.2 g/t Au which are part of a 6 m segment with an average grade of 7.7 g/t Au.
LM 24-11
LM 24-11 and LM 24-12 were drilled from the same setup to the southwest at an azimuth of 215 degrees just east of Shoe Lake. LM 24-11 was drilled at a dip of 65 degrees to a total drilling depth of 350 m. It is interpreted that the hole intercepted a lower grade section of the West Zone from 81 m to 88 m averaging 0.36 g/t Au. The zone was again intersected from 135 m to 153 m which averages 1.23 g/t Au over 18 m which includes a 1 m intercept grading 10.7 g/t Au. This hole intersected the West Zone about 50 m vertically below the intercept of LM 24-12.
LM 24-12
LM 24-12 was drilled at a dip of 45 degree for a total drilling depth of 302 m depth. The West zone was encountered at 53 m and is made up three distinct sections. The first section of 4 m averages 0.67 g/t Au, the second section of 3 m averages 0.65 g/t Au and the third section of 8 m averages 0.34 g/t Au ending at a drilling depth of 87m. In addition, LM 24-12 encountered another mineralized zone beginning at a drilling depth of 254m for a width of 10 m with an average grade of 0.36 g/t Au. Its correlation to known zones i.e. West Central, remains to be determined.
LM 24-13
LM 24-13 and LM 24-14 were collared 90 m west of Shoe Lake and drilled from the same setup at an azimuth of 35 degrees. LM 24-13 was drilled at a dip of 65 degrees to a total drilling depth of 350 m. The hole encountered mineralization from 17 m to 35 m, an 18 m intercept with an average grade of 0.39 g/t Au. It includes two 1 m sections of 2.6 g/t Au and 2.1 g/t Au. The hole intercepted the West Zone at 302 m returning a 4 m section with an average grade of 0.71 g/t Au. This West Zone intersection is about 100 m below the West Zone intersection of LM24-14.
LM 24-14
LM 24-14 was drilled at a dip of 45 degrees to a total drilling depth of 302 m and encountered similar lower grade near surface mineralization as LM 24-13. At 24 m depth 4 m returned an average grade of 0.48 g/t Au. The hole intercepted a section of mineralization interpreted to be the West Zone from of 166 m to 196 m. This 30 m interval returned an average grade of 0.37 g/t Au with a one metre intercept grading 6.85 g/t Au. LM24-13 and LM24-14 were essentially significant step out holes. The results from these holes not only establish the strike extension of the West zone, 180 m beyond its know extent, but also encountered an emerging zone tentatively being correlated as the West Central Zone from their near surface intersections of mineralized volcanics.
Table 1: Assay Results West of Dyke
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Table 1: Assay Results West of Dyke (continued)
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Notes to Table
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Now that all the lab work on the drilling assays has been completed, the data is being handed off to our independent consultants to complete their work on our initial NI 43-101. With the publication of the resource and the updating of our geologic model we will be in a position to design our work programs for 2025 that will be focused on improving the resource and extending our knowledge further of the Lingman Lake project. It is our plan to expand our field program in 2025, that will help to identify new areas that should be explored on our land package as well as follow up on the opportunities identified by the work completed this past year. With the completion of the new geologic model and our initial resource, we will design our 2025 program to fill any additional data gaps identified necessary to upgrade the resource and look to expand and extend the knowledge of the mineralization even further that will continue to grow our resource model. The company needs to gather further data on the potential depth of this deposit and the lateral extension of the identified zones offering great opportunities for Signature. There are many untested areas within our land package and remains open laterally and at depth. The 2024 drilling program only covered 1.5 kilometers of our 32 km wide greenstone belt and has only been drilled to a depth of 200 m.
Qualified Person
The scientific and technical content of this press release have been reviewed and approved by Mr. Walter Hanych, P. Geo, consultant and Head Geologist, who is a Qualified Person under NI 43-101 regulations.
Quality Assurance and Quality Control
Signature Resources maintains an industry standard Quality Assurance / Quality Control (QA/QC) program at the Lingman Lake Project to ensure sampling and analysis of all exploration work is conducted in accordance with best practices. John Siriunas, P. Eng. is the independent Qualified Person under 43-101 who monitors and scrutinizes the results of the QA/QC program.
Assay results from SGS's Red Lake lab for gold and the Burnaby lab for gold and multi-element are directly e-mailed to three individuals: Dan Denbow, President and CEO of Signature Resources, Walter Hanych, P. Geo. consultant to the company, and John Siriunas, P. Eng. independent consultant to the company.
SGS a certified laboratory and also have internal quality control ("QC") programs that include insertion of reagent blanks, reference materials, and pulp duplicates. The Corporation inserts QC samples (blanks and reference materials) at regular intervals to monitor laboratory performance.
About Signature Resources Ltd.
The Lingman Lake gold property (the "Property") consists of 1,300 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 24,761 hectares. The Property includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at depths of 46-metres, 84-metres and 122-metres. There has been over 28,000 metres of historical drilling done on the Property and four 500-pound bulk samples that averaged 19 grams per tonne of gold. In November 2023, the Ontario government energized a new 115kV high tension transmission line within 40 km of the historic Lingman Lake Mine (https://www.wataypower.ca/).
To find out more about Signature, visit www.signatureresources.ca or contact:
Dan Denbow
Chief Executive Officer
416-840-6345
info@signatureresources.ca
or contact :
Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
Cautionary Notes
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.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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FAQ
What are the key highlights from SGGTF's 2024 drilling program at Lingman Lake?
When will SGGTF release its maiden NI 43-101 resource estimate for Lingman Lake?
How much of the Lingman Lake property has SGGTF explored through drilling?
What role did AI play in SGGTF's 2024 drilling program?
How many drill holes were completed in SGGTF's 2024 program?
