Canadian Gold Corp. Hammond Reef South Surface Sample Returns 11.6 gpt Expanding New Gold Discovery & Provincial (Ontario) Funding Grant Awarded to Help Advance Exploration
Canadian Gold Corp. (TSXV: CGC) has announced an exploration update on its Hammond Reef South property in Ontario. Key highlights include:
1. A new surface sample returned 11.6 gpt gold, expanding a recently discovered high-grade zone.
2. The company has been approved for an Ontario Junior Exploration Program (OJEP) grant, providing funding for 50% of exploration expenditures up to $200,000.
3. A stock work vein system with a minimum strike length of 80 metres and widths up to 20 metres was identified.
4. The project has outlined a potential 6.7 km gold trend through the property.
5. An induced polarization (IP) survey is planned for late fall to identify areas of increased sulphide associated with gold mineralization.
Canadian Gold Corp. (TSXV: CGC) ha annunciato un aggiornamento sull'esplorazione del suo progetto Hammond Reef South in Ontario. I principali punti salienti includono:
1. Un nuovo campione superficiale ha restituito 11,6 gpt di oro, espandendo una zona ad alta grade recentemente scoperta.
2. L'azienda ha ottenuto l'approvazione per un programma di esplorazione junior dell'Ontario (OJEP), che fornisce finanziamenti per il 50% delle spese di esplorazione fino a $200.000.
3. È stato identificato un sistema di vene minerarie con una lunghezza minima di strike di 80 metri e larghezze fino a 20 metri.
4. Il progetto ha delineato una potenziale tendenza aurifera di 6,7 km attraverso la proprietà.
5. È previsto un'indagine di polarizzazione indotta (IP) per la fine dell'autunno per identificare aree di aumento di solfuri associati alla mineralizzazione di oro.
Canadian Gold Corp. (TSXV: CGC) ha anunciado una actualización sobre la exploración de su propiedad Hammond Reef South en Ontario. Los puntos destacados incluyen:
1. Una nueva muestra superficial retornó 11.6 gpt de oro, expandiendo una zona de alta ley recientemente descubierta.
2. La compañía ha sido aprobada para una beca del Programa de Exploración Junior de Ontario (OJEP), que proporciona financiamiento del 50% de los gastos de exploración hasta $200,000.
3. Se identificó un sistema de vetas mineralizadas con una longitud mínima de 80 metros y anchos de hasta 20 metros.
4. El proyecto ha delineado una posible tendencia aurífera de 6.7 km a lo largo de la propiedad.
5. Se planea realizar un estudio de polarización inducida (IP) para finales de otoño con el fin de identificar áreas de aumento de sulfuros asociados con la mineralización de oro.
캐나다 골드 코퍼레이션 (TSXV: CGC)은 온타리오의 해먼드 리프 사우스 부동산에 대한 탐사 업데이트를 발표했습니다. 주요 하이라이트는 다음과 같습니다:
1. 새로운 지표 샘플에서 11.6 gpt의 금이 확인되어 최근 발견된 고급 지역을 확장했습니다.
2. 회사는 온타리오 주니어 탐사 프로그램 (OJEP) 보조금 승인을 받아 탐사 비용의 50%에 해당하는 자금을 최대 $200,000까지 지원받습니다.
3. 최소 80미터의 스트라이크 길이와 최대 20미터 너비를 가진 암석 이동 시스템이 확인되었습니다.
4. 이 프로젝트는 부동산을 가로지르는 잠재적 6.7km 금 트렌드를 구상하고 있습니다.
5. 금 광물화와 관련된 황화물의 증가 지역을 식별하기 위해 가을 늦은 시기에 유도 전극(IP) 조사가 계획되어 있습니다.
Canadian Gold Corp. (TSXV: CGC) a annoncé une mise à jour de l'exploration de sa propriété Hammond Reef South en Ontario. Les points clés incluent:
1. Un nouvel échantillon de surface a montré 11,6 gpt d'or, élargissant une zone à haute teneur récemment découverte.
2. La société a obtenu l'approbation d'une subvention pour le Programme d'exploration junior de l'Ontario (OJEP), fournissant un financement pour 50% des dépenses d'exploration jusqu'à 200 000 $.
3. Un système de veinage a été identifié, avec une longueur de train minimale de 80 mètres et des largeurs allant jusqu'à 20 mètres.
4. Le projet a délimité une éventuelle tendance aurifère de 6,7 km à travers la propriété.
5. Une enquête de polarisation induite (IP) est prévue pour la fin de l'automne afin d'identifier les zones à sulfidés augmentés associés à la minéralisation d'or.
Canadian Gold Corp. (TSXV: CGC) hat ein Update zur Erkundung seiner Hammond Reef South-Liegenschaft in Ontario bekannt gegeben. Die wichtigsten Höhepunkte sind:
1. Eine neue Oberflächenprobe ergab 11,6 gpt Gold, wodurch eine kürzlich entdeckte hochgradige Zone erweitert wurde.
2. Das Unternehmen wurde für einen Ontario Junior Exploration Program (OJEP) Zuschuss genehmigt, der die Finanzierung von 50% der Explorationsausgaben bis zu $200.000 bereitstellt.
3. Ein System von Erzgangvorkommen mit einer minimale Streichlängen von 80 Metern und Breiten von bis zu 20 Metern wurde identifiziert.
4. Das Projekt hat einen potenziellen Goldtrend von 6,7 km durch das Grundstück umrissen.
5. Eine Induzierte Polarisation (IP)-Erhebung ist für späten Herbst geplant, um Bereiche erhöhter Sulfidvorkommen in Zusammenhang mit Goldmineralisierung zu identifizieren.
- New surface sample returned 11.6 gpt gold, expanding the high-grade gold discovery
- Approved for OJEP grant, covering 50% of exploration expenditures up to $200,000
- Identified stock work vein system with 80m strike length and up to 20m width
- Outlined potential 6.7 km gold trend through the property
- Exploration permit approved in July, allowing for drilling, trenching, and ground geophysical work
- None.
Toronto, Ontario--(Newsfile Corp. - September 25, 2024) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce an exploration update on the Hammond Reef South property, located near Atikokan, Ontario, and adjacent to Agnico Eagle's fully permitted Hammond Reef Project (Fig. 1). The Company also announces that it has been approved for the Ontario Junior Exploration Program ("OJEP") grant by the Ontario Ministry of Mines. The grant will provide funding for
The grant will allow Canadian Gold to advance its exploration activities at the highly prospective Hammond Reef South property. The property is located only 2 km from Agnico Eagle's fully permitted Hammond Reef Project, which contains a large mineral resource of more than 5 million ounces of gold and occurs in the same geological environment (Fig 1).
In August 2024, the Company reported the discovery of a new high-grade zone with surface samples returning 35.4 and 7.1 gpt gold within the northern part of the property (see news release August 6, 2024).
A follow-up program has since been completed to better evaluate the newly discovered high-grade gold mineralization. A stock work vein system was identified that has a minimum strike length of 80 metres with widths of up to 20 metres (Fig 2). The mineralization remains open along strike in both directions and returned samples from nil to 34.5 gpt gold. A channel sample across the zone returned 3.3 gpt gold over 1.05 metres including 6.42 gpt gold over 0.45 metres. New sampling 80 metres north of the original discovery, and before going under a swamp, returned 11.6 gpt gold from surface sampling.
This recent work has outlined a potential mineral system over a large 6.7 km gold trend that passes through the property (Fig 3). The Company is currently planning an induced polarization (IP) survey for late fall in order to identify areas of increased sulphide, which is strongly associated with the gold mineralization to outline exploration targets for further sampling and drill hole targeting. The project's exploration permit was approved in July and allows for drilling, trenching and ground geophysical work.
"We are grateful to the Ministry of Mines and the Honourable George Pirie, Minister of Mines, for their continued support of Ontario's exploration sector through initiatives like OJEP," said Michael Swistun, President and CEO of Canadian Gold. "This funding allows us to advance our exploration efforts and enhances our ability to make meaningful discoveries."
For Further Information, Please Contact:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com
Qualified Person
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101.
About Canadian Gold Corp.
Canadian Gold Corp. is a Toronto-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Figure 1. Overview location of the Hammond Reef South property illustrating the location of Agnico Eagles Hammond Reef Deposit.
To view an enhanced version of this graphic, please visit:
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Figure 2. Location of the new high-grade discovery on the Hammond Reef South property.
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Figure 3. Location of the Hammond Reef South property illustrating a large 6.7 km gold trend.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/224492_120f4a79d40678dc_003full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224492
FAQ
What was the gold grade of the new surface sample at Hammond Reef South for Canadian Gold Corp (TSXV: CGC)?
How much funding did Canadian Gold Corp (TSXV: CGC) receive from the Ontario Junior Exploration Program grant?
What is the size of the stock work vein system discovered by Canadian Gold Corp (TSXV: CGC) at Hammond Reef South?
What is the length of the potential gold trend outlined by Canadian Gold Corp (TSXV: CGC) at Hammond Reef South?
