VANCOUVER, BC, Oct. 4, 2021 /PRNewswire/ - GoldMining Inc.
(the "Company" or "GoldMining") (TSX: GOLD) (NYSE
American: GLDG) is pleased to announce initial infill assay
results from the first two holes assayed as part of an ongoing
fourteen hole infill core sampling program. The confirmatory assay
program targets existing unsampled core intervals from previous
drill programs at the 100% owned São Jorge property, located
alongside regional highway BR-163 in the Tapajos region, Pará
State, Brazil (see Figures 1-3 and
Tables 1-2).
GoldMining initiated a preliminary economic assessment ("PEA")
at São Jorge on completion of a Mineral Resource estimate
(see June 1, 2021 news release).
Initial PEA work has identified opportunities to better define and
expand existing mineralization, and included this infill drill core
sampling program. The Company intends to announce additional assay
results from this program as it progresses.
Alastair Still, CEO of
GoldMining, commented: "This is an exciting period for GoldMining
as we advance several projects, including São Jorge, towards a
preliminary economic assessment and as encountered here, the
geologic results highlight the unrealized potential in our
extensive portfolio of assets within the Americas. The assay
results released today on previously unsampled core has identified
potential additional mineralized intervals not previously
recognized or sampled and helps support the grade and continuity of
known mineralization at São Jorge.
Mr. Still continued: "Drill core collected by previous operators
at São Jorge had not been continuously sampled, and we
identified intervals with weak to moderate hydrothermal alteration
in areas of unsampled core from earlier drill programs. Previous
sampling programs focused on strongly altered zones based on a
visual determination with limited or intermittent sampling in
broader zones characterized by varying degrees of alteration and
mineralization. These unsampled intervals are the target of our
infill sampling program and will help better define limits of
mineralization in certain areas of the deposit."
Highlights:
- Sampling has been completed on the initial 14 holes in phase 1
(see Figure 1)
- More than 1,000 samples have been collected and are in varying
stages of being shipped and processed by the assay lab
- Results reported are from available assays for the first 2
holes
- Hole SJD-058-06 includes previously unsampled intervals (see
Figure 2 and Table 1):
-
- 1.23 grams per tonne ("g/t") gold over 89.0m from 157.0m
to 246.0m, including:
- 3.62 g/t gold over 14.0m from
157.0m to 171.0m;
- 1.41 g/t gold over 7.0m from
179.0m to 186.0m;
- 1.29 g/t gold over 5.0m from
194.0m to 199.0m;
- 1.34 g/t gold over 10.0m from
203.0m to 213.0m; and
- 1.04 g/t gold over 25.0m from
221.0m to 246.0m.
- Hole SJD-058-06 correlates well with twinned hole SJD-058A-06;
both holes were collared within metres of each other (see Table 2
and 3)
-
- New results from SJD-058-06 include 1.23 g/t gold over
89.0m from 157.0m to 246.0m
- Previous results from SJD-058A-06 include 0.92 g/t gold over
92.1m from 155.2m to 247.3m
- Hole SJD-094-11 includes a previously unsampled interval (see
Table 1 and Figure 3):
-
- 0.68 g/t over 2.0 m from
58.0m to 60.0m
Results released today include an interval of weak to moderate
alteration and mineralization within a previously unsampled
interval from 50.0 to 70.0m in hole
SJD-094-11 and extensive sections of SJD-058-06 from 140.0 to
259.0m which was drilled as a twinned
hole next to SJD-058A-06 with the majority of the hole previously
unsampled that contained extensive sections of strongly altered and
mineralized materials that may be atypical of the remaining holes
to be re-sampled. The costs for sample preparation and assaying for
this program of work is being funded using cash on hand.
Figure 1 – Property location map showing the São
Jorge deposit in Pará Sate. The 14 holes that are part of
the infill sampling program are shown with the blue coloured drill
traces. The results from the first 2 holes presented in this news
release are along the section lines indicated on the image and are
presented in detail in Figure 2 and Figure 3.
Figure 2 – Section 657415 facing west showing new
sampling in Hole SJD-058-06 from interval 140.0-259.0m as well as the original twinned hole
SJD-058A-06 with assay results that were already reported and
included in the 2021 Mineral Resource estimate and technical
report.
Figure 3 – Section 657650 facing west showing new
sampling in Hole SJD-094-11 from interval 50.0-70.0m.
Table 1 – Gold assay results from previously unsampled
core.
Hole
ID
|
Interval From
(m)
|
Interval
To (m)
|
Core
Length (m)
|
Gold
Grade (g/t)
|
SJD-058-06
|
140.0
|
145.0
|
5.0
|
0.49
|
|
157.0
|
246.0
|
89.0
|
1.23
|
including
|
157.0
|
171.0
|
14.0
|
3.62
|
including
|
167.0
|
171.0
|
4.0
|
9.51
|
including
|
179.0
|
186.0
|
7.0
|
1.41
|
including
|
194.0
|
199.0
|
5.0
|
1.29
|
including
|
203.0
|
246.0
|
43.0
|
0.93
|
including
|
203.0
|
213.0
|
10.0
|
1.34
|
including
|
221.0
|
246.0
|
25.0
|
1.04
|
SJD-094-11
|
58.0
|
60.0
|
2.0
|
0.68
|
Table 2 – Gold assay results from previously sampled core
in Hole SJD-058A-06 which is a twin hole to SJD-058-06.
Hole
ID
|
Interval From
(m)
|
Interval
To (m)
|
Core
Length (m)
|
Gold
Grade (g/t)
|
SJD-058A-06
|
155.20
|
247.30
|
92.10
|
0.92
|
including
|
174.81
|
193.85
|
19.00
|
0.87
|
including
|
196.85
|
200.85
|
4.00
|
0.59
|
including
|
204.93
|
213.48
|
8.55
|
2.13
|
including
|
219.83
|
240.30
|
20.47
|
1.85
|
Table 3 – Collar coordinates from newly sampled holes and
previously sampled twin hole.
Hole
Number
|
Easting
|
Northing
|
Elevation
|
Depth
|
Azimuth
|
Dip
|
SJD-058-06
|
657421.61
|
9282882.74
|
214.99
|
259.10
|
180
|
-55
|
SJD-058A-06
|
657421.59
|
9282883.88
|
217.04
|
280.10
|
180
|
-55
|
SJD-094-11
|
657658.00
|
9282700.61
|
205.90
|
330.40
|
180
|
-55
|
All results are expressed as core length. There is insufficient
work to confirm true thickness at this time.
Qualified Person
Paulo Pereira, P. Geo., President
of GoldMining Inc. has supervised the preparation of, and approved,
the scientific and technical information contained herein. Mr.
Pereira supervised the sampling program and has verified the
exploration information contained herein. Mr. Pereira is a
Qualified Persons as defined in National Instrument 43-101.
Data Verification
For this program of drill core sampling, samples were taken from
the NQ/HQ core by sawing the drill core in half, with one-half sent
to SGS GEOSOL Labóratorios Ltda. ("SGS GEOSOL") and the other
half retained for future reference. SGS GEOSOL is a certified
commercial laboratory located in Vespasiano, Minas Gerais,
Brazil.
GoldMining has implemented a stringent quality assurance and
quality-control (QA/QC) program for the sampling and analysis of
drill core which includes insertion of duplicates, mineralized
standards and blank samples for each batch of 100 samples. The gold
analyses were completed by fire-assays with an atomic absorption
finish on 50 grams of material. Repeats were carried out by
fire-assay.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused
on the acquisition and development of gold assets in the Americas.
Through its disciplined acquisition strategy, GoldMining now
controls a diversified portfolio of resource-stage gold and
gold-copper projects in Canada,
U.S.A., Brazil, Colombia, and Peru. The Company also owns 20 million
shares of Gold Royalty Corp. (NYSE American: GROY).
Forward-looking Statements
This document contains certain forward-looking statements
that reflect the current views and/or expectations of GoldMining
with respect to its expectations and ongoing and proposed work at
the São Jorge property, future exploration and work programs
and expected completion of a PEA for the property. Forward-looking
statements are based on the then-current expectations, beliefs,
assumptions, estimates and forecasts about the business and the
markets in which GoldMining operates. Investors are cautioned that
all forward-looking statements involve risks and uncertainties,
including: delays to plans caused by restrictions and other future
impacts of COVID-19 or any other inability of the Company to meet
expected timelines for planned project activities, including the
timing of proposed PEA and work programs; the inherent risks
involved in the exploration and development of mineral properties,
fluctuating metal prices, proposed studies may not confirm
GoldMining's expectations for its projects, unanticipated costs and
expenses, risks related to government and environmental regulation,
social, permitting and licensing matters, and uncertainties
relating to the availability and costs of financing needed in the
future. These risks, as well as others, including those set forth
in GoldMiningꞌs Annual Information Form for the year ended
November 30, 2020, and other filings
with Canadian securities regulators and the U.S. Securities and
Exchange Commission, could cause actual results and events to vary
significantly. Accordingly, readers should not place undue reliance
on forward-looking statements and information. There can be no
assurance that forward-looking information, or the material factors
or assumptions used to develop such forward-looking information,
will prove to be accurate. The Company does not undertake any
obligations to release publicly any revisions for updating any
voluntary forward-looking statements, except as required by
applicable securities law.
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SOURCE GoldMining Inc.