PIEDMONT, QC, Jan. 31,
2023 /CNW Telbec/ - Goldflare Exploration
inc. (TSXV: GOFL) (« Goldflare » or « the
Society ») announces the first results of its second phase of
drilling on the Syenite Condor property located 35 km north-east of
the town of Rouyn-Noranda.
Assay results from the first six holes totaling 997 meters have
been received with best results of 0.97 g/t over 4.9 meters,
followed by 0.7 g/t over 5.9 meters from hole CDR-22- 14. (Details
in the following table).
The new mineralized hole is located about 200 metres northwest
from the initial Condor-1 discovery (see Goldflare March 3rd press release).
The six holes presented show strong gold alteration developed in
hematized and fractured porphyritic syenite intrusions. This
particular type of rock is closely related to the gold system. This
is reflected by a gold signal varying between 0.01 and 0.1 g/t
developed over drill lengths varying between 5 meters and 150
meters.
The company is pursuing the program with additional short holes
planned to test some of the targets identified on the Clericy syenite intrusion over about four
square kilometres. These targets, overburden covered, were defined
using a combination soil geochemistry and IP ground survey
supported by structural mapping.
"We are excited by the first result obtained in hole
CDR-22-14. With less than 2,000 metres drilled so far on the
property, we can say that we have found promising proximity
indicators of a possible major gold system.
The stacked mineralized structure obtained is close to the
surface and its association with strong gold anomalies is rarely
seen in barely worked new gold properties.
Our goal is to find how close we are to a promising
mineralized zone related to a disseminated-type gold system that
could bear similarities to known deposits and mines in the region.
We are at the very beginning of the Syénite Condor project history
which began in 2021. Goldflare has everything in place to make
great strides to test the target and highlight gold
potential." Ghislain
Morin, President and CEO.
Results
The drilling program initially aimed to test the lateral
extension of the Condor-1 gold showing over a distance of
approximately seven hundred meters (700m) using one hundred and fifty meter holes
drilled at an average spacing of fifty (50m) meters. Holes CDR-22-13 to CDR-22-15
are closely related to the location of the Condor-1 showing. They
are distributed within 250 meters of the initial discovery, drilled
following a staggered pattern. Holes CDR-22-17 and CDR-22-18 were
drilled on a geophysical anomaly located about seven hundred
(700m) meters from the first
holes.
Coord-UTMnad83,Z17
|
DDH_No
|
From:
|
To
|
Length
(m)
|
Au_g/t
|
659295E-5364945N
|
CDR-22-13
|
No value >0.2
g/t
|
|
|
|
|
|
|
659243E-5365006N
|
CDR-22-14
|
19.1
|
20
|
4.9
|
0.97
|
|
Incl.
|
20
|
23
|
3
|
1.48
|
|
|
37.6
|
43.5
|
5.9
|
0.7
|
|
Incl.
|
41.2
|
42.2
|
1
|
2.84
|
|
|
|
|
|
|
659235E-5365084N
|
CDR-22-15*
|
109
|
112
|
3
|
0.23
|
|
|
135
|
139.8
|
4.8
|
0.23
|
|
|
|
|
|
|
659243E-5365006N
|
CDR-22-16
|
No value >0.2
g/t
|
|
|
|
|
|
|
658885E-5365337N
|
CDR-22-17
|
11.1
|
12.6
|
1.5
|
0.29
|
|
|
|
|
|
|
658861E-5365361N
|
CDR-22-18
|
134.1
|
135
|
0.9
|
0.32
|
|
|
|
|
|
|
Note: Intervals are presented as drilled length. True thickness
is evaluated in the 70-80% range based on preliminary
interpretation.
* Results straddling IAMgold claims boundary.
The mineralization identified is located on the eastern edge of
the eastern Cléricy intrusion, hosted in a network of highly
altered porphyritic syenite dykes that cuts the main intrusive
mass. This favorable context can be traced over more than 2km by a
strong magnetic contrast. The signature of the gold system
identified so far in the continuity of the Condor-1 showing is
approximately 200 meters. Interpretation and modeling are ongoing
to determine the best possible direction for gold enrichment.
QAQC
Position of the drill holes was taken using a portable GPS,
which implies an uncertainty of a few meters. The direction of the
holes was established using a Reflex EZ-TRAC TM instrument. Cores
are sawn in half in an on-site facility. Sample bags are delivered
from the field to Laboratoire Expert inc. in Rouyn-Noranda, then are analyzed using a
standard fire assay with lead collection on a 30-gram pulp
fraction. Gold is assayed by Atomic Absorption Spectrometry (AAS)
for results up to 3 g/t. Results above 3 g/t are re-analyzed by
gravimetry. Quality control includes standard samples, blanks,
preparation duplicates and duplicate samples taken at regular
intervals.
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 is currently at the pre-development phase of the
Fayolle project.
A surface gold discovery occurred in 2021 during a first
prospecting program. The following months saw 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 of
twelve short holes succeeded in identifying a 100-metre-wide gold
bearing structure (Goldflare 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.