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Signal Gold Completes Airborne Geophysical Survey and Identifies Multiple Exploration Targets in the Goldboro Gold District

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Signal Gold Inc. completes an airborne geophysical survey and identifies multiple exploration targets in the Goldboro Gold District. The company has completed a 1,245-line kilometre survey over its expanded land position, compiling historic geological and exploration data to identify four high-priority growth targets. Signal Gold plans to initiate exploration programs to assess these areas and develop drill targets while continuing to drill the Goldboro Deposit extension. The company aims to leverage its geological database to identify further targets and demonstrate the gold camp potential of the district.
Signal Gold Inc. ha completato un'indagine geofisica aerea e ha identificato diversi obiettivi di esplorazione nel Distretto Aurifero di Goldboro. La compagnia ha terminato un sondaggio di 1.245 chilometri lineari sul suo territorio ampliato, compilando dati geologici e di esplorazione storici per identificare quattro obiettivi di crescita ad alta priorità. Signal Gold prevede di avviare programmi di esplorazione per valutare queste aree e sviluppare bersagli di perforazione, continuando nel contempo a trivellare l'estensione del Deposito di Goldboro. L'azienda mira a sfruttare il suo database geologico per identificare ulteriori obiettivi e dimostrare il potenziale del campo aurifero del distretto.
Signal Gold Inc. ha completado una encuesta geofísica aérea e identificado múltiples objetivos de exploración en el Distrito de Oro de Goldboro. La compañía ha finalizado un levantamiento de 1.245 kilómetros lineales sobre su posición de tierra expandida, recopilando datos geológicos e históricos de exploración para identificar cuatro objetivos de crecimiento de alta prioridad. Signal Gold planea iniciar programas de exploración para evaluar estas áreas y desarrollar blancos de perforación, mientras continúa perforando la extensión del Depósito de Goldboro. La empresa aspira a aprovechar su base de datos geológica para identificar más objetivos y demostrar el potencial del campamento de oro del distrito.
시그널 골드 인크는 골드버로 골드 지구에서 여러 탐사 대상을 식별하는 항공 지질 조사를 완료했습니다. 이 회사는 확장된 토지 위치에 대한 1,245선 킬로미터 조사를 완료하고, 네 개의 고우선순위 성장 대상을 식별하기 위해 역사적 지질 및 탐사 데이터를 컴파일했습니다. 시그널 골드는 이 지역들을 평가하고 드릴 목표를 개발하는 탐사 프로그램을 시작할 계획이며, 골드버로 매장지 확장을 계속 드릴링할 예정입니다. 회사는 지질 데이터베이스를 활용하여 추가 대상을 식별하고 지구의 금 캠프 잠재력을 입증하고자 합니다.
Signal Gold Inc. a terminé une enquête géophysique aérienne et a identifié plusieurs cibles d'exploration dans le District Aurifère de Goldboro. La société a achevé une enquête linéaire de 1 245 kilomètres sur sa position foncière élargie, compilant des données géologiques et d'exploration historiques pour identifier quatre cibles de croissance de haute priorité. Signal Gold prévoit de lancer des programmes d'exploration pour évaluer ces zones et développer des cibles de forage tout en continuant de forer l'extension du gisement de Goldboro. L'entreprise vise à exploiter sa base de données géologiques pour identifier d'autres cibles et démontrer le potentiel du camp minier d'or du district.
Signal Gold Inc. hat eine luftgestützte geophysikalische Untersuchung abgeschlossen und mehrere Explorationsziele im Goldboro-Goldbezirk identifiziert. Das Unternehmen hat eine 1.245 Kilometer lange Linienvermessung über sein erweitertes Landgebiet abgeschlossen und historische geologische und Explorationsdaten zusammengestellt, um vier hochprioritäre Wachstumsziele zu identifizieren. Signal Gold plant, Explorationsprogramme zu initiieren, um diese Gebiete zu bewerten und Bohrziele zu entwickeln, während es weiterhin die Erweiterung der Goldboro-Lagerstätte bohrt. Das Unternehmen beabsichtigt, seine geologische Datenbank zu nutzen, um weitere Ziele zu identifizieren und das Goldlagerstättenpotenzial des Distrikts zu demonstrieren.
Positive
  • Signal Gold Inc. completes a 1,245-line kilometre airborne magnetic and VLF electromagnetic survey over its expanded land position in the Goldboro Gold District.
  • The company compiles historic geological and exploration data, including over 10,000 till and soil geochemical samples, to identify four high-priority growth targets: Stewart, Fowler, Armstrong, and Hurricane.
  • Signal Gold plans to initiate exploration programs to assess these areas, develop specific drill targets, and continue drilling the western extension of the Goldboro Deposit.
  • The company utilizes historical exploration data and recent ground IP surveys to construct a robust model for regional exploration targeting, aiming to identify new discoveries in the Goldboro Gold District.
  • The airborne survey was completed by Terraquest and includes high-resolution aeromagnetics, horizontal gradiometer, and matrix digital VLF electromagnetics.
  • Kevin Bullock, President and CEO of Signal Gold Inc., expresses excitement over the results of the recent survey, highlighting the potential for gold discovery in the district.
Negative
  • None.

TORONTO, ON / ACCESSWIRE / April 18, 2024 / Signal Gold Inc. ("Signal Gold" or the "Company") (TSX:SGNL)(OTCQX:SGNLF) is pleased to announce that it has completed a 1,245-line kilometre airborne magnetic and very low frequency ("VLF") electromagnetic survey over its recently expanded exploration land position immediately north of, and contiguous with, the Goldboro Project ("Goldboro", or the "Project). The Company now has geophysical and VLF data over the entirety of its exploration property package of approximately 27,200 hectares (~272 km2) of prospective exploration land in the Goldboro Gold District.

In addition, the Company has completed the compilation of historic geological and exploration data from the expanded property, which included databasing and the interpretation of more than 10,000 till and soil geochemical samples, 416-line kilometers of ground geophysics, 14 diamond drill holes, 116 reverse circulation drill holes, and more than 1,500 rock samples. The preliminary analysis of the historical data along with recently completed airborne and ground geophysical surveys has led to the identification of an initial four high priority growth targets: the Stewart, Fowler, Armstrong and Hurricane targets (Exhibit A and B). The Company is initiating exploration programs this spring which will further assess these prospective areas and develop specific drill targets, with the goal of identifying new discoveries while we continue drilling the western extension of the Goldboro Deposit.

"We are excited with the results of the recent airborne magnetic and VLF geophysical survey and historical compilation work over our significant land position in the Goldboro Gold District, which has highlighted numerous high-quality targets for gold discovery. We now have complete airborne geophysical data for our entire land position and a critical mass of valuable data, compiled at little cost, which has allowed us to construct a robust model for regional exploration targeting. We plan on sharing further details on each of these initial high-priority targets in the coming weeks and continue to work with our significant geological database to identify further targets. Our regional exploration activity continues to demonstrate the scale and gold camp potential of the Goldboro Gold District."

~ Kevin Bullock, President and CEO, Signal Gold Inc.

The Company has used historical exploration data, in conjunction with recent ground Induced-Polarization (IP) surveys, to construct a robust model for regional exploration targeting. This model has proved successful in our recent drilling west of the current Mineral Resource at the Goldboro Deposit and towards the past producing Dolliver Mountain Gold Mine*. Since 2023, the Company has conducted 3,945-line kilometres of airborne surveys which indicated numerous VLF anomalies consistent with our exploration model and associated with both the Goldboro and Lower Seal Harbour Trends, which cover a combined 51 kilometers of strike potential, including areas with little to no previous exploration work. The Company will continue to evaluate the geophysical data recently acquired to determine if there are additional high priority targets.

The airborne survey was completed by Terraquest Ltd. and comprises high-resolution aeromagnetics, horizontal gradiometer and matrix digital VLF electromagnetics. The survey was flown at 100m north-south line spacing with one (1) kilometre spaced tie lines.

Exhibit A: A map showing the extent of an ~ 1,245-line kilometre airborne magnetic and VLF survey over the ~7,771 hectare of newly acquired licenses, shown in pink, at the Goldboro Gold Project. This survey is in addition to a similar survey conducted over the remainder of the property in 2023.

Exhibit B: A map showing the extent of airborne magnetic coverage over the entire property, including preliminary magnetic results from the recent airborne survey. Also shown are the four key exploration target areas including the Stewart, Fowler, Armstrong and Hurricane targets.

*Operations began at the Dolliver Mountain Gold Mine in 1901 and the operation ceased in 1904.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Signal Gold Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

ABOUT SIGNAL GOLD
Signal Gold is advancing the Goldboro Gold Project in Nova Scotia, a significant growth project subject to a positive Feasibility Study which demonstrates an approximately 11-year open pit life of mine with average gold production of 100,000 ounces per annum and an average diluted grade of 2.26 grams per tonne gold. (Please see the ‘NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia' on January 11, 2022, for further details). On August 3, 2022, the Goldboro Project received its environmental assessment approval from the Nova Scotia Minister of Environment and Climate Change, a significant regulatory milestone, and the Company has now submitted all key permits including the Industrial Approval, Fisheries Act Authorization and Schedule 2 Amendment, and the Mining and Crown Land Leases. The Goldboro Project has significant potential for further Mineral Resource expansion, particularly towards the west along strike and at depth, and the Company has consolidated 27,200 hectares (~272 km2) of prospective exploration land in the Goldboro Gold District.

FOR ADDITIONAL INFORMATION CONTACT:

Signal Gold Inc.
Kevin Bullock
President and CEO
(647) 388-1842
kbullock@signalgold.com
Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
(514) 722-2276 x456
Dany.Cenac-Robert@ReseauProMarket.com

SOURCE: Signal Gold Inc.



View the original press release on accesswire.com

FAQ

What type of survey did Signal Gold Inc. complete?

Signal Gold Inc. completed an airborne magnetic and very low frequency (VLF) electromagnetic survey.

How many high-priority growth targets were identified by Signal Gold Inc.?

Signal Gold Inc. identified four high-priority growth targets: Stewart, Fowler, Armstrong, and Hurricane.

Who is the President and CEO of Signal Gold Inc.?

Kevin Bullock is the President and CEO of Signal Gold Inc.

What company completed the airborne survey for Signal Gold Inc.?

The airborne survey was completed by Terraquest

What is the total land position of Signal Gold Inc. in the Goldboro Gold District?

Signal Gold Inc. has a land position of approximately 27,200 hectares (~272 km2) in the Goldboro Gold District.

SIGNAL GOLD INC

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