Stelmine Identifies Three Additional Gold Exploration Targets Beyond the Meridian Zone
31 5월 2023 - 10:00PM
Stelmine Canada (“Stelmine” or the “Company”) (TSXV:
STH) is please to announce the results of a till survey
leading to three additional gold exploration targets
outside the Meridian Zone on its 100% owned
Mercator property
. During the 2023 field season,
the Company will implement various exploration strategies on these
new targets.
Highlights:
- Results from the
till sample survey confirm the Meridian Zone mineralization and the
method has proven successful in identifying orogenic gold systems
on the property
- Till
sampling data identify three additional orogenic-type mineralized
zones, anomalous in gold and pathfinder elements (ex: Arsenic,
copper) (Figures 1 and 2)
- New
targets corelate with geophysical magnetic signatures associated
with Iron Formations hosting known gold mineralization (Figure 2)
(May 11, 2023 PR)
Isabelle Proulx President and CEO of Stelmine
declares: “Confirming the three gold zones is of major importance
for Stelmine, beyond than offering a lower cost discovery
technique, till sampling leads to the discovery of new potential
zones to drill.”
CLICK TO SEE THE FIGURES IN THE PRESENTATION
Figure
1. Strong till anomalies detected by the sum of pathfinder
elements (2Cu+2As+Au) using the Inverse Distance weighted
Interpolation (IDW) method. Anomaly A identifies
the Meridian Zone and detects a down-ice dispersion trail from the
core of mineralization. Anomaly B straddles iron
formations exposures in a less explored area.
Figure
2. Gold till anomalies from samples collected west of the
Meridian Zone in areas of granulitic iron formation exposures.
Anomalies C and D located west of the Meridian
zone are associated with iron formation exposures around which grab
rock and channel sampling reveal anomalous As et Au
concentrations.
What is a Till Survey?A large
surface of Northern Quebec is covered by relatively thick layers of
sediments deposited during the retreat of glaciers occurring
~10,000 years ago. As glaciers moved across the landscape they
scraped off and eroded the top portion of mineral deposits leaving
behind a traceable dispersion trail of the mineral deposit. These
glacial sediments were appropriately called “till” and while they
often hide mineralized outcrops, they can be sampled to be analyzed
for pathfinders elements (ex: Cu and As) showing a regional glacial
dispersion. Geologists can follow these till anomalies in an up-ice
direction towards the source of the mineral occurrence/deposit.
Analyzing samples extracted from diverse till
layers is a widespread exploration method used for the efficiency
in discovering gold. Mining companies (ex: Kenorlands Minerals,
Azimut Exploration, Harfang Exploration and SOQUEM) use till
sampling to scale down the size of areas where more intensive
exploration will be completed.
Geology of MercatorOrogenic
Gold at Mercator is associated with: a) sulphide
minerals, notably pyrrhotite and
arsenopyrite/löllingite, b) granulitic
silicate iron formations, c) moderate to high
magnetic values and d), high chargeability
signatures. The results of the till survey indicate a clear imprint
of glacial dispersion of pathfinder elements which can be trace
back to outcrops having most of the characteristics mentioned
above.
The gold-bearing Mercator property, with 595 km2
of largely unexplored claims, thus lends itself to the till
sampling method. For this reason, the Company recently completed a
till survey consisting of 434 samples collected mostly from the
subglacial unit (C-horizon) on the 2.5 km x 500 m wide gold-bearing
Meridian Zone using a 200 m x 100 m grid spacing (Figure 1).
Additionally, 96 till samples were gathered 1 km apart on
EW-oriented lines covered prospective gold areas throughout the
property (Figure 2).
Qualified PersonThe technical
information in this news release has been reviewed and approved by
Michel Boily, PGeo, PhD. Mr. Boily is the qualified person
responsible for the scientific and technical information contained
herein under National Instrument 43-101 standards.
QA/QC ProtocolStelmine
implemented a strict QA/QC protocol in processing till samples
collected from the Mercator property. A clean metal shovel was used
to dig through the topmost soil layers and to sample the ablation
glacial till (C-horizon). Roughly 1 kg of till material was
collected, cleaned of coarse pebbles (> 16 mm) and put in
plastic bags for transport to the camp. For each sample collected;
the sample number, UTM coordinates, and a brief material
description were systematically noted. The samples were dried for
at least 48h at the camp. The program was under the supervision of
geologists in training. Sample bags were then put in rice pouches
and kept securely in a field tent before being sent by floatplane
to the city of Fermont. Transport to Actlabs laboratories in
Ancaster, Ontario was made by truck from dependable transport
companies. Gold and other elements were analyzed by the
INAA+ICP_OES (1H) methods.
About Stelmine Canada Stelmine
is a junior mining exploration company pioneering a new gold
district (Caniapiscau) east of James Bay in the under-explored
eastern part of the Opinaca metasedimentary basin where the
geological context has similarities to the Eleonore mine. Stelmine
has 100% ownership of 1 782 claims or 938 km² in this part of
northern Quebec, highlighted by the Mercator and Courcy
Projects.
Forward-looking
statements Certain information in this press
release may contain forward-looking statements, such as statements
regarding the expected closing of and the anticipated use of the
proceeds from the Offering, acquisition and expansion plans,
availability of quality acquisition opportunities, and growth of
the Company. This information is based on current expectations and
assumptions (including assumptions in connection with obtaining all
necessary approvals for the Offering and general economic and
market conditions) that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. Risks that could cause results to differ from those
stated in the forward-looking statements in this release include
those relating to the ability to complete the Offering on the terms
described above. The Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward-looking
statements unless and until required by securities laws applicable
to the Company. Additional information identifying risks and
uncertainties is contained in the Company’s filings with the
Canadian securities regulators, which filings are available at
www.sedar.com.
Cautionary statement Neither
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
For further information, contact:
Isabelle Proulx,
President and CEOStelmine |
Investor
Relations: |
Tel: 418-626-6333 |
MarketSmart
Communications Inc |
info@stelmine.com |
Adrian Sydenham |
|
Toll-free: 1-877-261-4466 |
|
info@marketsmart.ca |
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