Highlights:
- 4 gold zones identified and modelled to 500 meters at dip and 1,000 at strike open in all directions
- 5,000-meter drill program underway to infill and extend the known gold zones
- 3D model and zones show the near resource potential
September 16, 2021, London, Ontario – Abitibi Metals Corp. (CSE:GSK) (FSE:4KG) (“Goldseek” or the “Company”) is pleased to announce the identification of 4 zones within the 3D model of gold mineralization drilled to date at the Company’s Beschefer Project. The Beschefer Project is located approximately 30 kilometres southwest of Wallbridge’s Fenelon Gold Project. 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).
The resulting model is made of four main lenses (West, Central, Central Deep, East), forming a system almost 1km along strike with the main volcanic contact and associated deformation zone. Laterally, the system can be considered open; lenses were cut and close at a maximum distance between 100 and 200 metres from the last drill intercept.
Figure 1: 3D Plan view of the Beschefer Gold System, plunging plan view to the northeast. Leapfrog grade shells using inverse distance interpolation superimposed on 3D mesh interpretation.
Except for the East lens, mineralization was generally encountered near the bedrock interface to a down-dip extension of 500 metres. Down dip lenses can be extrapolated inside a dip length varying between 150 metres and 550 metres depending on the property limit location (Figure 1).
Each lens corresponds to different host rocks relations, typical grade and thickness that evolved along strike, as illustrated in Figure 1. Even preliminary, the modelling highlights the following features: the prevalence of intrusion going westward, central lenses corresponding to higher down-dip continuity, and the gradual deepening of the mineralized system to the east. With reservations, the gold distribution could indicate a gradual increase to the east.
|
Position area |
Geometry |
Context |
Typical grade |
|
West lens (purple) |
40° dip lens 370m along strike length 350m along dip length Open to the west |
Felsic intrusion footwall mylonite. Low-grade dissemination in the intrusion volume. |
1.27 gpt over 18.8m (B14-28) |
|
Central shallow lens (pink) |
50-60° dip 380m along strike length 400m along dip length |
Interlayered felsic intrusion and diorite. |
2.5 gpt over 12m (BE11-001) |
|
Central deep lens (blue) |
50-60° dip 290m along strike length 150m along dip length |
Interlayered felsic intrusion and diorite. |
2.0 gpt over 17.9m (BE13-035) |
|
East lens (green) |
30-40° dip, 450m along strike length 550m along dip length open to the east. |
Located on a defined contact between felsic-intermediate and mafic host rocks. |
10.3 gpt over 11.4m (BE12-014) |
Goldseek’s President & CEO Jon Deluce states, “The identification of 4 gold zones within the 3D model continues to demonstrate our understanding of the gold system and that it is near-resource stage. Our current 5,000m program is focused on infill and extension on the Central Shallow and high-grade East Zones. We look forward to providing updates on our drill program, with first results expected out in October.”
About the Beschefer Project:
- Advanced gold exploration project with significant near-term resource potential, benefiting from a high density of drilling.
- Located in a favourable orogenic gold setting 45 km northeast of the Casa Berardi Mine and 30 km southwest of Wallbridge’s Fenelon Gold 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. The associated structure and alteration system highlight the potential along the Beschefer trend and unexplored parallel structures.
- Continuous large-scale gold-bearing structures are regionally known on the property environment, located near the polymetallic former Selbaie Mine. The base metal potential of the Property, even if historically recognized, was never explored.
Qualified Person
This press release was prepared by Martin Demers P.Geo,OGQ (#770), who is a qualified person 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.