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Goldseek Commences 5,000m Drill Program At Beschefer Project

Highlights:

  • Approximately 5,000 meters of drilling currently underway at Beschefer
  • A combination of infill and expansion targets are planned with a focus on extending the historical high-grade zones (55.63 g/t gold over 5.57 metres; 10.28 g/t gold over 8.00 metres, and 12.40 g/t gold over 3.78 metres)

August 07, 2021, London, OntarioAbitibi Metals Corp. (CSE:GSK) (“Goldseek” or the “Company”) is pleased to announce the commencement of our 5,000-meter drill program at the Beschefer Project. The Beschefer Project is located approximately 30 kilometres southwest of Wallbridge’s Fenelon Gold property. On March 3rd, 2021, the Company entered into an option agreement on the Beschefer Project to earn 100% over 4 years from Wallbridge Mining Company Limited (see news release dated March 3, 2021).

Overview of the Drill Program

Goldseek has budgeted approximately 5,000m of diamond core drilling for high priority infill and extension targets at its Beschefer Project along the Detour Gold Trend. The program includes includes 22 planned holes with length ranging from 100 to 380 metres. It aims at different objectives:  

  • Resource Drilling (20m): Extension at close range historical intercepts with strong metal factors and grade above 10g/t using an average spacing of 20 metres. 
  • Resource Drilling(50m): Completing infill and delineation inside known lenses at a spacing ranging between 25 and 50 metres. The objective is to create links between widely spaced previous drill holes with similar geological characteristics.
  • Expansion Drilling: Testing the lateral extension of the East lense. The modelled geometry supports the identification of a previously undrilled blind target corresponding to the eastern extension of the actual lens.

Further details on drill targets and 3D model of the gold zones will be provided in subsequent news releases. 

Goldseek’s President & CEO Jon Deluce states,”We are excited to start our first drill program on the Beschefer Project, which has demonstrated size and grade potential. We look forward to highlighting the near-resource nature of the project and expansion potential through our upcoming 3D modelling details and drill results. We have a catalyst packed remainder of the year which is summarized below:”

 

About the Beschefer Project:

  • Advanced gold exploration project with significant near-term resource potential
  • Located in a favourable orogenic gold setting 45 km northeast of the Casa Berardi Mine and 30 km southwest of Wallbridge’s Fenelon Project.
  • Highlights of the best intersections include 55.63 g/t gold over 5.57 metres in hole BE13-038 (including 224 g/t over 1.23m ; 13.95 g/t over 0.68m and 13.70 g/t over 0.73m), 13.07 g/t gold over 8.75 metres in hole B12-014 (including 58.5 g/t over 1.5m), 3.56 g/t gold over 28.4 metres in hole B14-006 (including 7.42 g/t over 5.5m), 10.28 g/t gold over 8.00 metres in hole B14-35 (including 86.74 g/t over 0.60m), and 12.40 g/t gold over 3.78 metres in hole B11-003. True width in these sections vary between 89% and 99% of the intercepted witdh.
  • The mineralization shows high-grade gold-bearing structures hosted in a lower grade envelope, which highlights the regional potential along the already defined shear zones located on the Property.
  • Continuous large-scale gold-bearing structure (B-14 Zone) with known continuity and additional known parallel mineralized shear zones.

Qualified Person

This press release was prepared by XXXX, P.Geo,OGQ, who is a qualified persons as defined under National Instrument 43-101, and who has reviewed and approved the geological information provided in this news release.

About Abitibi Metals Corp.

Abitibi Metals Corp. is a Canadian exploration company with a portfolio of assets in Ontario and Quebec, Canada. By identifying six projects in world-class mining locations, Goldseek is poised to deliver shareholder value through rigorous exploration and development on these properties. Our mission is to find the next major discovery in the mining camps of Urban Barry, Quevillon, Val D’Or, and Detour Gold Trend in Quebec and Hemlo in Ontario.

ON BEHALF OF THE BOARD

Jonathon Deluce

Chief Executive Officer 

Telephone: 226-271-5170

For more information, please contact:

Abitibi Metals Corp.

E-mail: goldseekresources@gmail.com 

The reader is invited to visit Goldseek’s web site https://www.goldseekresources.com/

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.