And 7.02 m Grading 2.27 g/t Au from Initial Drill Results at DOC Property in BC's Prolific Golden Triangle
Vancouver, November 12, 2020 -
Hanstone Gold Corp. (TSXV: HANS) ("Hanstone" or the "Company") is pleased to provide the first set of assay results from 12 of the 21 HQ diamond drill holes completed in its 2020 drill program at the Company's 100% owned DOC Property located in British Columbia's prolific Golden Triangle Mining District.
The first 12 drill holes included in this release totaling 1,473 meters focused on investigating historically reported surface and drill-indicated gold mineralization to verify results and expand the footprint of the known zones along strike and at depth. The remaining 9 drill holes totalling 1,251 meters are still awaiting finalized assay results and QA/QC validation. The remaining drill holes were targeted primarily based on the geological information gained in the earlier holes of the drilling campaign combined with known historical information and drilling results.
Raymond Marks, President and Chief Executive Officer of Hanstone, stated:
"Management is very pleased that the initial assay results demonstrate significant gold intercepts in this first round of drilling from depths as shallow as 6 meters and as deep as 180 meters. These results confirm our belief, based upon historical drill results and recent geological surveys, that the DOC Property has the geologic potential to host numerous systems of mineralization, both near surface and at greater depths. Due to the shortened 2020 drilling season, the 2020 drill program consisted of shallow drill holes where only 2 of 21 drill holes exceeded 200 meters in depth. Our planned 2021 drill program will include deeper holes to further evaluate the full depth of mineralization while continuing to expand the strike extent of the current zones and to outline additional prospective target areas on the DOC Property."
Drilling results of gold intersection highlights from this initial batch of 12 drill holes include:
Table 1: DOC Gold Intersection Highlights
| Drill Hole | Interval (m) | Grade Au (g/t) |
| Q19-20-04 | 2.25 | 6.18 |
| Q26-20-01 | 1.97 | 5.10 |
| Q26-20-03 | 6.00 | 2.20 |
| including | 0.80 | 10.80 |
| DC-20-01 | 6.00 | 1.58 |
| including | 2.90 | 2.92 |
| and | 0.50 | 7.41 |
| DC-20-03 | 7.02 | 2.27 |
All significant intervals of mineralization from the current batch of 12 drill holes are shown in Table 2 below. The 2020 drill program results included numerous other intersections ranging from 0.50 to 0.99 g/t Au which are not shown in Table 2. Complete assays of all mineralized sections will be posted on the Company's website including low grade intervals within the reported higher grade mineralized intercepts as soon as the data is available.
Table 2: DOC Drilling Intersections - Average Assay Grades
| Drill Hole | Azimuth | Dip | Avg Grade
Au (g/t) | Avg Grade
Ag (g/t) | From Depth
(m) | To Depth
(m) | Interval
(m) |
| DC-20-01 | 020° | -50° | 1.39 | - | 155.15 | 156.55 | 1.40 |
| 1.88 | - | 175.00 | 180.00 | 5.00 |
| including | 2.92 | - | 176.00 | 178.90 | 2.90 |
| and | 7.41 | - | 176.94 | 177.44 | 0.50 |
| DC-20-02 | 186° | -45° | 1.39 | - | 28.00 | 30.40 | 2.40 |
| 4.36 | 96.50 | 59.20 | 59.40 | 0.20 |
| DC-20-03 | 191° | -45° | 2.27 | - | 82.18 | 89.20 | 7.02 |
| GR-20-04 | 198° | -45° | 1.33 | 12.20 | 15.67 | 16.09 | 0.42 |
| Q19-20-03 | 225° | -45° | 1.21 | - | 8.17 | 9.24 | 1.07 |
| Q19-20-04 | 175° | -45° | 6.18 | 47.78 | 6.80 | 9.05 | 2.25 |
| Q26-20-01 | 178° | -45° | 5.10 | - | 42.83 | 44.80 | 1.97 |
| Q26-20-03 | 178° | -80° | 2.20 | - | 72.00 | 78.00 | 6.00 |
| including | 10.80 | - | 74.00 | 74.80 | 0.80 |
| Q28-20-01 | 200° | -45° | 1.73 | - | 15.00 | 16.00 | 1.00 |
Notes:
Au analysis is by fire assay with Gravimetric finish (FA/Gravimetric 2 AT)
Ag analysis is by aqua regia digestion ICP multielement analysis (TSL Labs Method ICP-MS Aqua Regia)
Ag values >100 ppm were reanalyzed by fire assay with Gravimetric finish (FA/Gravimetric 1 AT)
Figure 1: 2020 Drill Collar Plan Map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6279/68024_738dc3ed34e1498b_001full.jpg
Quality Assurance, Quality Control & Technical Disclosure:
The 2020 drilling and exploration was conducted under the supervision of Tyler Fiolleau, P.Geo. and Darren Slugsoki, P.Geo., both of Axiom Exploration Group Ltd. A thorough chain-of-custody and QA/QC program was carried out during the 2020 drill program on all the HQ diameter, half-core split samples. The implemented QA/QC procedures included the insertion of certified standard control samples, duplicates, and blanks to ensure proper calibration of lab equipment. Sample analyses are being conducted by TSL Laboratories Inc. in Saskatoon, Saskatchewan. Gold analysis is determined by fire assay with Gravimetric finish (FA/Gravimetric 2 AT). Silver analysis is determined by aqua regia digestion ICP multielement analysis (TSL Labs Method ICP-MS Aqua Regia), Ag values exceeding 100 ppm were reanalyzed by fire assay with Gravimetric finish (FA/Gravimetric 1 AT).
The technical information in this news release has been reviewed and approved by Doug Engdahl, P.Geo. (CEO & Principal Geologist, Axiom), and Matthew Schwab, P.Geo. (President & Senior Geologist, Axiom), each of whom is a "Qualified Person" for the Company as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Hanstone:
Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North Projects optimally located in the heart of the prolific mineralized area of British Columbia known as the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past-producing mines and several large deposits that are approaching potential development. The Company holds a 100% earn in option in the 1,704-hectare Doc Project and owns a 100% interest in the 3,336-hectare Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful track record in the discovery of gold deposits and in developing mineral exploration projects through discovery to production.
Ray Marks, President and Chief Executive Officer
For Further Information Contact:
Raymond Marks, President & CEO, +1-778-896-7778, rmarksgold@gmail.com; or
Bob Quinn, Vice President, +1-713-412-2620, rjq@pdq.net
or visit the Company's website at https://hanstonegold.com
Cautionary Statement Regarding Forward Looking Information:
The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified using words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events, or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Hanstone's business and the industry and markets in which it operates and will operate. Forward-looking information and statements are made based upon numerous assumptions, including among others, the results of planned exploration activities are as anticipated, the price of gold, the cost of planned exploration activities, that financing will be available if needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct Hanstone's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances, and achievements of Hanstone to differ materially from any projections of results, performances, and achievements of Hanstone expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that future assay results will not confirm previous results, imprecision of mineral resource estimates, the uncertainty of commodity prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, or other approvals.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information because of new information or events except as required by applicable securities laws.
