PIEDMONT, QC, April 20,
2023 /CNW/ - Goldflare Exploration Inc. (TSXV:
GOFL) ("Goldflare" or the "Company") announces that it has
completed a winter drilling program on the Condor project located
35km northeast of the city of Rouyn-Noranda. The results obtained confirm
the extent of the gold anomaly associated with the Condor-1 showing
over more than one (1) kilometer.
The Syenite Condor project, 100% owned by Goldflare, is located
along the extension of the Porcupine-Destor fault in a geological context similar
to known and mined deposits along this structure. No drilling had
been undertaken on the property prior to Goldflare's intervention,
to the best of the company's knowledge.
Geological reconnaissance and prospecting work carried out by
Goldflare since 2021 has led to the discovery of the Condor-1
surface showing hosted in a system of altered and anomalous gold
syenite intrusions. A dozen targets distributed over an area of
approximately 4.0 km² have been identified to follow up on the
exploration work carried out in 2021.
- A total of 2975 meters spread over 18 holes have been drilled
since October 2022. Last January,
four targets were tested with six (6) holes with an average length
of 165 meters. The best result obtained to date is 0.46 g/t over
6.15 meters including an interval of 2.1 g/t over 1 meter which
comes from hole CDR-23-23 drilled approximately 1 kilometer to the
northwest of the Condor-1 showing.
- Similar results were obtained from the two other targets which
gave the Condor-2 and Condor-3 showings located respectively 1.1km
and 1.3km from the Condor-1 showing. For each of these showings,
drilling bearing gold mineralization intersected intervals ranging
from 5 meters to more than 30 meters of highly hematized, fractured
and pyritized intrusive rocks. This environment systematically
carries grades ranging from 0.01 to 0.1 g/t.
- The results obtained validate the exploration methods and
approach. The interpretation of mineralized structures already
offers several follow-up possibilities in unexplored areas. Once
all the results have been received and compiled, company management
will assess the best follow-up strategy.
Ghislain Morin (CEO): "Several assays have shown significant
gold grades on a property that had never been drilled in the past.
Although at the preliminary stage of exploration, the company is
confident of the potential this property holds, especially since
our work still resembles tests by covering limited areas. Other
surface exploration and drilling work will of course have to be
carried out to realize its gold potential. The objective is still
to identify a first ore body whose size and grade would indicate an
economic potential."
Condor-1 showing extension.
Borehole CDR-22-22 was drilled and implanted to test the
northwest structural interpretation of the Condor-1 showing. The
gold enrichment of 0.2 g/t over 12.1 meters, including a value of 1
g/t over 0.7m, is related to strong
fracturing developed in a red syenite intrusion. The pyritization
remains discontinuous, in the form of millimetric grains, in
partial replacement of iron oxides. The result, which is located
about 300 meters north northwest of the Condor-1 showing, offers
possibilities for expansion both laterally to the northwest and at
depth..
Condor-2 showing discovery
About 1 kilometer northeast of the Condor-1 showing, three holes
(CDR-22-23, CDR-22-24, CDR-22-25) drilled to the east and northeast
were used to test a geochemical anomaly correlated to a
well-defined structural lineament. The boreholes were placed within
40 meters of each other. The main gold structure intercepted takes
the form of a heterogeneous to brecciated syenite intrusion
interspersed with lamprophyre intrusions. The grade increase is
related to a network of fractures with chlorite plating. The
intensity of pyritization is variable, locally reaching 2%, locally
associated with molybdenite. The best result received is 0.46
g/t over 6.15 meters, including an analysis of 2.1 g/t over 1
meter.
Condor-3 anomaly
The gold anomaly is located approximately 1.3 kilometers
northwest of the Condor-1 showing and 300 meters west of the
Condor-2 showing. As in the case of Condor-2, the initial target is
supported by geochemical soil anomalies correlated to a structural
lineament, prospecting results, and structure mapping. Two holes
(CDR-22-20, CDR-22-21) were drilled along a north-south section.
The best result obtained, from CDR-22-21, is 0.33 g/t over
5.3m. Mineralization occurs as
centimetric quartz-carbonate-amphibole veins containing
approximately 5% pyrite clusters. The host syenite is strongly
hematized and carbonatized.
Coord-UTMnad83,
Z17
|
DDH_No
|
From:
|
To:
|
Length
|
Au_g/t
|
|
|
|
|
|
|
Condor
-1
|
659235E -
5365084N
|
CDR-22-22
|
26.2
|
27.7
|
1.5
|
0.55
|
|
|
124.4
|
136.5
|
12.1
|
0.20
|
|
|
130
|
130.7
|
0.7
|
1.00
|
|
|
|
|
|
|
Condor-2
|
658582E -
5365655N
|
CDR-23-23
|
69.85
|
76
|
6.15
|
0.46
|
|
|
75
|
76
|
1
|
2.10
|
|
|
|
|
|
|
658602E -
5365670N
|
CDR-23-24
|
113
|
116
|
3
|
0.21
|
|
|
127
|
128
|
1
|
0.47
|
|
|
139
|
140
|
1
|
1.30
|
|
|
|
|
|
|
658609E -
5365616N
|
CDR-23-25
|
37
|
40,6
|
3,6
|
0.55
|
|
|
|
|
|
|
Condor-3
|
658292E-5365598N
|
CDR-22-20
|
21.7
|
25.5
|
3.8
|
0.23
|
|
|
21.7
|
22.1
|
0.4
|
1.50
|
|
|
|
|
|
|
658259E-
5365571N
|
CDR-22-21
|
106.6
|
111.9
|
5.3
|
0.33
|
|
|
107.8
|
108.15
|
0.35
|
1.3
|
QAQC
The drilling positions were recorded by Garmin GPS with an
accuracy of less than 3 meters. A Reflex EZ-TRAC instrument was
used to plot the boreholes. Examination, description, and sampling
are carried out in a facility located on the property. The samples
are delivered from the field to the facilities of Laboratoire
Expert inc. of Rouyn-Noranda. The
analysis is done by fire assay with collection of gold by lead on a
30 gram subsample. The gold assay follows a procedure of
dissolution with aqua regia and assay by atomic absorption
spectrometry (AAS) for results below 3 g/t. Results greater than 3
g/t are re-analyzed and determined by weighing. Blank samples,
certified standards, preparation duplicates and sample duplicates
are inserted into the sample chain.
Launch of drilling work on Goldfields
In order to take advantage of the winter conditions which
facilitate access, the geographical proximity and the mobilization
of the team in progress, Goldflare has applied for a drilling
permit to test targets located on the Goldfields property, whose
claims are adjacent to Iamgold's Fayolle pit mining project.
Details of this new campaign will follow in a subsequent press
release to be published in the coming weeks.
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 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.