Vancouver, July 15, 2021 -
Volatus Capital Corp. (CSE:VC) (CNSX:VC.CN) ("Volatus" or the "Company") reviews exploration results from JD Project, Toodoggone District, central British Columbia. The Company's initial 2020 exploration program focused on gold exploration in the Moosehorn area, (north of Benchmark's Lawyers Trend) and porphyry copper alteration and mineralization in Mc Claire Creek and the North East Zone.
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- New Copper, Gold and Silver discovery at the North East Zone (see map below).
- Grades from the North East Zone range from nil to 7.2 g/t Au, 1845 g/t Ag and 36.7 % Cu (see map below).
- 2 new gold targets defined at Moosehorn based on Soil Gas Hydrocarbon (SGH) sampling combined (see map below).
- The company is focused to continue on exploration on these core targets in 2021 while also expanding on the known gold mineralization around the Finn Zone.
Volatus President and CEO Fred Tejada comments, "We are very pleased with the 2020 exploration results which give us clear targets for discovery in both gold and copper at JD in 2021. The syntheses of historic work places Volatus in a good position for discovery and development of gold and copper mineralization. We look forward to being a key player in the development of the resurgent Toodoggone Mining camp."
The property is underlain by a thick succession of interlayered volcaniclastic and intermediate volcanic rocks that are locally cut by high-level porphyritic intrusions. These rocks appear to host a large epithermal gold-silver system with many significant high-grade gold and silver occurrences in the core of the claims. Among other methods, the company utilized Soil Gas Hydrocarbon analysis, a high-performance deep penetrating geochemistry which has successfully shown the presence of deeply buried mineral deposits.
Mr. Tejada continued, "Moosehorn was always a high priority gold target, situated at the northern end of the Lawyers Trend which is bracketed by Benchmark to the south and Thesis to the northwest. The SGH survey sees through the overburden that may have thwarted previous exploration programs and revised targeting on the North East Zone has uncovered high grade copper, gold and silver mineralization in an area that was previously thought to be barren of significant mineralization."
Historical highlights from these zones from limited drilling and trenching include:
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- Creek Zone - 4m @ 103.3g/t Au, 92.2 g/t Ag, 1.34% Cu and 11.7% Zn
- Woof Zone - Grab samples up to 79.2 g/t Au and 36,500 g/t Ag.
- Schmitt Zone - 8 m @ 326 g/t Au, and 6151 g/t Ag
- Gumbo Zone - 5.65 m @ 37.7 g/t Au; 12 m @ 14.3 g/t Au
The results of the rock sampling in the North East Zone is shown in the map below. Significant values of copper, gold and silver indicate that this is another promising area within the JD property. The Company plans to conduct follow up work in this area this summer.
Figure 1. Significant assays from rock sampling conducted in 2020.
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Figure 2. Showing the results of SGH survey conducted in 2020 on Moosehorn.
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JD Option Agreement
Under the terms of the option agreement dated July 27, 2020, Volatus can earn a 100% interest in 32 mineral claims (13,697 ha) by making cash payments of $1,070,000 and issuing 4,075,000 common shares over a five-year period to the vendors, in addition to financing exploration expenditures of $16 million over a total 75-month period. The agreement is subject to a 2.5 % NSR, where 40% of the 2.5% can be purchased by Volatus for $5 million.
The Belle Project is located within the larger JD Project and subject to the JD Project Area of Interest. Volatus can earn a 100% interest in the seven mineral claims (1,691 ha) property by making cash payments of $75,000 and issuing 500,000 common shares to the vendors over a total 36-month period. The agreement is subject to a 2.0 % NSR, where 1% can be purchased by Volatus for $2,000,000.
Technical disclosure in this news release has been reviewed and approved by Michael Collins P. Geo. a Director of Volatus Capital Corp., a Qualified Person as defined by National Instrument 43-101.
About the JD Project
The JD property is located 280 km northeast of the Smithers, BC in the historically significant Toodoggone gold district of north-central British Columbia. It lies adjacent to the north and east of Benchmark's Lawyers Property, adjacent to the south of the Porphyry Pearl and Oxide Peak Properties, and some 15 km south of Evergold's Golden Lion Property. Guardsmen's Ranch Property is adjacent to the west.
The Kyba Red Line, predictive for epithermal gold and porphyry copper mineralization, is on the JD Property. As a result of Kyba's work, the Triassic Stuhini Group-Jurassic Hazelton Group stratigraphic contact is an essential guide to a geological environment that is favorable for the formation of major metal deposits in proximal Hazelton Group rocks. Kyba recognized that most of the major deposits in the region occur within 2 km of a regional stratigraphic contact, there are lithological and structural clues to narrow that window even more.
About Volatus Capital Corp.
The Company is focused on exploration and development of resources in gold and the green economy that have strong demand profiles. The Companies main focus is the JD Project Option and the 20% owned Legh Creek Magnesite project in South Australia.
ON BEHALF OF THE BOARD
Fred Tejada
President and CEO
For additional information, contact Volatus at 604-819-2709
We seek Safe Harbor.
Forward-looking information
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
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