PIEDMONT -
Drill hole AIG-23-26 intersected a continuous interval of mineralization over 22.8 meters at a grade of 1.3 grams of gold per tonne, including a higher-grade interval of 5.83 grams of gold per tonne over 2.4 meters.
The Goldfields property is adjacent to
The drilled area is located 700 metres from the
The Goldlfields mineralization is in the Porcupine-Destor structural break, hosted in syenite and lamprophyre intrusions. At Goldfields, north-east cross-fractures zones were identified in relation with gold bearing fractured intrusions carrying minor amount of pyrite, magnetite, and chalcopyrite.
Drill results
The results of the last six drilled holes are communicated following the last Goldflare press release of
Four holes were drilled from the same base as previously released holes AIG-23-18, AIG-23-19 and AIG-23-20 using southeast to east-west orientations with different dips. The objective was to intercept northeast-trending mineralized structures based on interpretation. Holes AIG-23-21, AIG-23-23 and AIG-23-24 returned mineralized intervals of 1.0 g/t over 12m, 1.7 g/t over 12.9m and 0.7 g/t over 16.3m, respectively, while hole AIG-23-22 returned an isolated result of 0.7 g/t over 0-.7m. The mineralized zone was intercepted close to the bedrock contact.
Hole AIG-23-25 returned 0.8 g/t over 7.1 metres, including 1.7 g/t over 2.5 metres. The mineralized interval was obtained approximately 25 metres below bedrock surface.
Hole AIG-23-26 crossed cut an altered and intensely fractured syenite sequence that averaged 1.3 g/t over 22.8 metres length. The vertical depth of interception varies between 60 and 80 meters. A higher-grade interval of 5.8 g/t over of 2.4 meters length was obtained close to the upper contact, associated with more intense pyritization.
The interpretation of the mineralized structure shows a general northeasterly orientation, which was confirmed laterally by drilling for approximately 100 metres. The dip variation interpreted is between 65-degree and 75-degree to the northwest while the interpreted true thickness shows variations between 3.5 and 22 meters.
Gold values obtained are hosted in altered lamprophyre and syenite intrusions in fault contact between sheared ultramafic volcanic rocks and basalts. The mineralization takes the form of free gold trapped in a network of quartz joints and veinlets. The volume of sulphides (pyrite, chalcopyrite) is minor, and magnetite can be observed in association. These observations are consistent with the geology of the
Model
Geological modelling based on 86 historical holes indicates a general orientation of the northeast mineralized structure. Drilling planned for winter 2024 is expected to define the mineralized contour at an average depth of 100 metres, and then continue to drill to depth. The distribution of the historical drilling allows for the extrapolation of both lateral extensions and vertical continuities below 200 metres vertically.
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Drill positions were recorded by a handheld Garmin GPS. A Reflex EZ-TRAC instrument was used to route boreholes. Examination, description, and sampling are carried out on the property. The samples were delivered to
The mineralized zone was assayed using 100 mesh metallic sieve. Fractions smaller and larger than 100 meshes are analyzed separately by fire assay with gravimetric finish. The result is a weighted average of the two fractions. Mineralization walls were analysed by standard 30 grams fire assay with atomic absorption spectrometry (AAS) finish.
Blank samples, certified standards, preparation duplicates, and sample duplicates are inserted into the sampling.
The technical information contained in this press release has been reviewed by
Contact:
CEO
Tel: 819-354-9439
Email: ghislainmorin@goldflare.ca
Chairman of the Board
Tel: 819-856-8435
Email: sergeroy@goldflare.ca
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