PIEDMONT, QC, Oct. 5, 2022
/CNW Telbec/ - Goldflare Exploration inc. (TSXV: GOFL)
(« Goldflare » or « the Society ») has
completed its drill targets assessment and ground preparation works
on the Condor property. In the eyes of the Company, the conditions
were met to go forward with a limited drill target on high
potential targets. The Condor property, located at 35 km north-east
of the town of Rouyn-Noranda, is
in the heart of an active gold mining camp. This new potential is
based on recent prospecting results released by the Company in
2021.
The project comes from an innovative approach developed by
Goldflare to assess the gold potential of the Clericy syenite intrusion, an area that was
the object of no documented exploration in the past.
During the last three months, the company has carried out field
works to refine its drilling approach and is confident to make this
program a success. Following last elements of preparation, drilling
equipment will be mobilized before the end of October.
Ore Vision
R survey
The Company recently received results and interpretation from an
electro-magnetic ground survey Ore vision TM proprietary
of Abitibi Geophysics. The survey done along 5 lines totalling
about 7km was used to validate areas previously identified for
drill testing. Chargeability targets in high resistivity background
were identified close to surface in five areas of interest
distributed over about 4 square kilometers.
The Company expects to correlate these anomalies with
disseminated gold bearing pyrite mineralization hosted in fracture
networks. This context was observed with the first drill program
done on the property in early 2022, whose best results of 1 g/t
over 7.2 metres is included in a wide mineralized halo giving 0.29
g/t over a drilled length of 40 metres (Goldlfare Exploration,
March 3, 2022).
Drill program
The Company has used of combination of exploration methods such
as structural interpretation, soil geochemistry and OreVision
R geophysics survey to identify blind high potential
gold targets. Three main trends were interpreted over strike length
of 2 km. Eleven (11) targets have been identified to be drill
tested.
- This second phase of works will be made of about 3,000 metres
distributed in about twelve (12) holes.
- First objective will be to expand the Condor showing to the
northwest by making steps out of 50 metres, 100 metres and 200
metres for a total strike length of about 600 metres. Between 4 and
8 holes will be drilled to assess the position of the Condor 1
showing along strike.
- An inventory of alternative targets will be tested. About 200
metres to the south-west of Condor 1, a chargeability anomaly was
observed on two lines about 200 metres apart which can be
correlated to a north-south interpreted structure. A minimum of
four holes will be planned to cross the geophysics
anomalies.
- About 1.5km to the north-west of Condor 1, a third structures
corresponding to a group of geophysics and geochemistry targets
will also be tested with this program.
About the Syenite Condor
Project
The Condor project is located about 35km north-east of
Rouyn-Noranda, Québec, at the
eastern extension of the Porcupine-Destor Break. The property is
part of a 2,910 hectares land package, adjoining other claims where
Goldflare detains interests.
A surface gold discovery occurred in 2021 during a first
prospecting program. Following months have seen the completion of
varied exploration work such as the stripping of the Condor-1
showing followed by a soil geochemistry survey doubled by a
OreVision R ground survey. A first drill program made of
twelve short holes succeeded to identify a 100 metres wide gold
bearing structure (Goldlfare Exploration, March 3, 2022).
"We have built a solid exploration project over the last twelve
months, working using good practices, as with the use of varied and
innovative exploration approaches. We have never been this close to
progress at steady pace with multiple high potential drill targets
distributed on multiples trends. We can only recall that the Condor
target is hosted in one of these syenite intrusion which are
responsible for many major deposits which have made the Abitibi's
gold potential known during the last century."
Ghislain Morin, President and
CEO.
The technical information contained in this press release has
been reviewed by Martin Demers,
P.Geo. (ogq No. 770), consultant for Goldflare Exploration and
qualified person under National Instrument 43-101 Respecting
Disclosure of Mineral Projects.
SOURCE Goldflare Exploration Inc.