The Company completed the first
The alteration zone shows a yellowish-green colour and associated disseminated sulphides. Semi-massive sulphides along a narrow quartz vein were noticed at a depth of 48.6 meters. The semi-massive sulphides contain pyrite, sphalerite, galena and highly magnetic pyrrhotite. The XRF scanning on the semi-massive sulphides returned high gold, zinc, lead, and cobalt anomalies. Core samples are being sent immediately for assay.
The project geologist
The primary host rock for this hole is the ultramafic rock, peridotite, belonging to the Slide Mountain Terrane (Crooked Amphibolite), which contains consistent grades of nickel, cobalt, magnesium, and chromium in all previous drill holes. The drill core was delivered to the Company's facility in
Note: The XRF data is taken as point values and will not represent the true grade of the samples analyzed. The elemental data is highly dependent on the location of which the beam intersects the rock. The device used to take the data points is a 2023 SciAps X-550 handheld X-ray fluorescence (XRF) analyzer, which produces a beam spot diameter up to 3mm. It is designed to achieve laboratory-quality results in the field and provides rapid and accurate elemental analysis and testing.
This phase of drilling is a continuation of the Zone 1 and Zone 2 drilling program from 2022 and will comprise approximately 500 meters in 5 diamond drill holes. The 2022 Quesnel Nickel program consisted of 42 diamond drill holes, all of which encountered significant nickel, magnesium, chromium, and cobalt commencing at surface. The drill holes from 2022 were drilled from two large outcrops known as Zone 1 and Zone 2 which rise approximately 700 feet above the surrounding ground. The deepest hole in 2022 was drilled to a depth of 128 meters and ended in mineralization.
The next drill hole WK-23-02 is presently being drilled 900 meters northwest of WK-23-01. This next hole is intended to verify the nickel potential in the Slide Mountain Terrane closer to Zone One. The strong alteration zone identified in WK-23-01 will be another exploration target for the upcoming drilling program.
The second stage of this year's program will also include 20 planned NQ diamond drill holes involving a 6,000-meter program to test at depths down to 300 meters and expand on the 14 kilometer strike around and between Zone 1 and Zone 2. The 2023 program also includes plans for exploration groundwork on its newly acquired
About
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometers and straddle a 32-kilometer length of the Barkerville and Quesnel Terranes. They are contiguous to
Contact:
Tel: 780-993-2193
Forward Looking Information
This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as 'anticipates', 'expects', 'believes', 'estimates', 'could', 'intends', 'may', 'plans', 'predicts', 'projects', 'will', 'would' and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in
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