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CanaGold Resources Ltd. Continues to Intersect High-Grade Gold Mineralization in C-West Main Vein21.04.2022 | 7:30 Uhr | Accesswire
Including 42.5 gpt Au over 2 m at New Polaris Project, BC
The assay results include samples from drill holes that have returned significant intercepts of gold mineralization in the C-West Main ("CWM"). Highlights:
Scott Eldridge, Canagold CEO, said, ""In addition to significant infill results, this most recent batch of assays has intercepted robust mineralization within known gaps in the resource model. We see multiple opportunities for resource expansion in parallel veins as well as expanding the C West Main Vein where a known gap area has now intercepted 42.5 grams over 2 metres. We are seeing excellent continuity in our infill efforts as we move towards upgrading inferred resources to measured and indicated. The tighter drill spacings are delivering significant grade over widths that support the PEA mine plan. We anticipate additional results in the coming weeks." Click to enlarge image Click to enlarge image Detailed information for the six drill holes and the sample assay results and mineralized intercepts are provided in Table 1 and Table 2 below. All of the planned 47-holes of the originally proposed 24,000 m infill drill program were completed by the end of 2021 and assay results have now been received for 43 holes. An additional 6,000 meters of drilling in 7 holes were completed in January and February 2022. The samples collected from the mineralized zone in all of those holes have been submitted to the ALS Geochemistry lab in Whitehorse, YT for gold analysis. Results from the remaining holes will be released as they are received in the coming weeks. Drilling has now been completed for the season prior to the spring thaw. Drilling equipment is being stored on site ready for the start of the next drilling campaign in the summer of 2022. Infill Holes to Upgrade Inferred Resources to Indicated Resources *The New Polaris resource is contained within a preliminary economic assessment ("PEA") report which was prepared by Moose Mountain Technical Services in the format prescribed by NI43-101 Standards of Disclosure for Mineral Projects, and filed on Sedar April 18, 2019. New Polaris Overview The New Polaris gold deposit is an early Tertiary, mesothermal gold-bearing vein system occupying shear zones cross-cutting late Paleozoic andesitic volcanic rocks. It was mined by underground methods from 1938 to 1942, and again from 1946 to early 1951, producing approximately 245,000 oz gold from 740,000 tonnes of ore at an average grade of 10.3 gpt gold. Three main veins ("AB, C and Y") were mined to a maximum depth of 150 m and have been traced by drilling for up to 1,000 m along strike and up to 800 m down dip, still open for expansion. The gold occurs dominantly in finely disseminated arsenopyrite within quartz-carbonate stock-work veins and altered wall-rocks. Individual mineralized zones extend up to 250 meters in length and 14 meters in width. Average widths more commonly range from 2 to 5 meters. Qualified Person Drill Core Sampling and Quality Assurance - Quality Control Program The samples are submitted to the ALS Geochemistry lab in Whitehorse, YT for preparation and assaying. The entire sample is crushed to 70% passing -2 millimeters and a 250 gram aliquot is split and pulverized to 85% passing -75 microns. Analysis for gold is by 30 gram fire assay and gravimetric finish. A suite of 30 other elements including arsenic, antimony, sulfur and iron are analyzed by aqua-regia digestion Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES). ALS Canada Ltd. is accredited by the Standards Council of Canada and is an ISO/IEC 9001:2015 and 17025:2017 certified analytical laboratory in North America. "Scott Eldridge" Scott Eldridge, Chief Executive Officer CanaGold Resources Ltd. For More Information - Please contact: Knox Henderson, VP Corporate Development Email: knox@canagoldresources.com Website: www.canagoldresources.com Cautionary Note Regarding Forward-Looking Statements Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others risks related to the uncertainties inherent in the estimation of mineral resources; commodity prices; changes in general economic conditions; market sentiment; currency exchange rates; the Company's ability to continue as a going concern; the Company's ability to raise funds through equity financings; risks inherent in mineral exploration; risks related to operations in foreign countries; future prices of metals; failure of equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals; government regulation of mining operations; environmental risks; title disputes or claims; limitations on insurance coverage and the timing and possible outcome of litigation. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, do not place undue reliance on forward-looking statements. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. Table 1: Drill Hole Collar Information
Table 2: Drill Core Sample Results Details
Composites were calculated from length weighted Au sample interval results. Grade capping and cut-off have not been applied. SOURCE: CanaGold Resources Ltd. Dieser Artikel stammt von Rohstoff-Welt.de
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