PIEDMONT, QC, Nov. 30,
2022 /CNW Telbec/ - Goldflare Exploration inc.
(TSXV: GOFL) (« Goldflare » or « the Society »)
announces the second phase of drilling on its Condor property was
completed with 1,639 metres drilled in ten holes.
The Condor property, located at 35 km north-east of the town of
Rouyn-Noranda, is centered on the
Clericy syenite pluton. Following
targeting (see Goldflare press release of October 5th, 2022), 13 blind targets
were identified, coherent with a series of structures spaced 200 to
500 metres apart following general north-west orientation.
Following that, 50 drilling emplacement were permitted to test 13
distinct targets covering an area of about 4 square kilometers.
The current program was initiated to first test the immediate
extension of the Condor-1 gold showing along a strike length of
about 250 metres using five short holes parallel drilled at about
50 metres spacing following a north-east direction.
A first step out was done to test a second target at about 500
metres from Condor-1 following a north-west strike. Three short
holes with length between 150 and 175 metres were drilled following
varied orientation to test a combination of geophysical anomalies
and inferred structures.
Finally, the new Gord surface showing located close to a strong
geophysical signature, some 1500 metres north-west from Condor-1
was tested with two holes.
"Observations made on most cores so far confirm in many cases
our best expectations that we have intercepted a strongly altered
syenite intrusions with local pyritization, which remained unknown
to this day. Even if we cannot say at this stage if gold is truly
there, we are determined to think things throught and evaluate if
the strong density of targets known on the property hides evidences
of a gold deposit" Ghislain
Morin, President and CEO.
Core observations
All the holes explained geophysical anomalies and succeeded to
intercepted magmatic structures and alteration zones that stand out
strongly in the geological landscape visible at surface. To date, 8
out of the 10 holes have been logged. The sampling and assaying
process is progressing.
Targets intercepted are composed of an assemblage of lamprophyre
and varied textures syenite. Hematite alteration is widespread in
the syenite while more local fracturing is associated with
carbonate-chlorite assemblage. A weak pyritization can be observed
sporadically over multiple intervals.
Observations made to date returned noticeable structural and
alteration features that contrast strongly with the surrounding
main syenite intrusion.
Cautionary note: following geological observation along
drilled intervals can not be considered as indicators, or
correlatable with gold assays results.
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. The project shares boundaries with
Iamgold which currently evaluated economic conditions for a
production decision of the Fayolle project.
A surface gold discovery occurred in 2021 during a first
prospecting program. Following months 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).
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.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as defined in the rules of the TSXV
Exchange) is responsible for the accuracy or truthfulness of this
release.
SOURCE Goldflare Exploration Inc.