New discoveries and summary of exploration work on the Courcy property
16 January 2020 - 3:26AM
Stelmine Canada (« Stelmine »)
(STH-TSXV) announces the discovery on its Courcy property
of new gold values provided by rock samples (grab and channel) and
of gold anomalies revealed by till samples. The Courcy flagship
property, located within an Archean greenstone belt at the western
end of the metasedimentary Opinaca basin presents two types of gold
mineralization:
- a stratiform type
associated with a package of garnet-bearing amphibolites and
sulphide-rich iron formations along a major refolded thrust fault
(Couteau fault) extending more than 21 km (zones 1 and 2; figure
1);
- second generation quartz veins
invading the sheared contact of volcanic and sedimentary
assemblages along the axis of a major fold (zone 4).
New exploration work has supported the extension
of zones 1 and 2 and the increased potential of zone 4. In addition
to better helping us locate the location of drillholes for a future
campaign, our work delineated the different sites associated with
two mineralization types.
A mineralized system extending for more
than 800 m
Gold concentrations of 4.0 g/t from a
1.3 m channel and a grab sample value of 0.5 g/t Au were
obtained from zone 4. Coupled with the results of the till survey
showing a significant gold anomaly south of strongly folded and
mylonitized rocks concealing a type 2 mineralization, these
discoveries enhance the possibility of defining a mineralization
extending more than 800 m (figure 1).
A drill-ready mineralized
thrust
A gold value of 0.78 g/t on 1.1 m confirms the
extension of zone 1 by more than 50 m toward the southwest. This
type 1 mineralized projection is still open since it is buried
under the till cover. Furthermore, the results of basal till
samples revealed three northeast/southwest-oriented gold anomalous
regions than can be traced upward the glacial transport to
mineralized zones 1 and 2 (figure 1). Also note two anomalous
sectors near the southern and southwestern contact of the Couteau
fault which shows a similar folded structure to that associated
with zones 1 and 2. The former areas expose little outcrop and
warrant a re-evaluation with different exploration methods. A
compilation of exploration work completed by Stelmine along the
Couteau fault near the core of the antiform (including grab and
channel samples, overburden stripping, geological, geophysical and
structural surveys and till sampling) demonstrates a significant
gold mineralization ready to be drilled.
“Due to late financing, the management decided
to postpone the drilling campaign. This allowed the Company to
complete further exploration work including a 400-sample basal till
survey (C horizon). The survey detected anomalous gold values that,
combined with the results obtained on rock samples, uncovers new
potential areas on which limited work has been done because of the
thick overburden. Till surveys often identify anomalies leading to
mine discovery. This type of work favors low cost exploration of
large terranes” specifies Isabelle Proulx, CEO and President of
Stelmine.
Figure 1.
Geological map of the Courcy
property showing the gold values of rock and till samples.
To see the map.
Stelmine RepresentationStelmine
will participate, from January 16 to 21, to the Vancouver Metal
Investor Forum and also attend the Vancouver Resource Investment
Conference (VRIC). For the last 25 years, The VRIC constitutes the
forerunner of the junior mining investment market.
QA/QC ProtocolStelmine implemented a strict
QA/QC protocol in processing all rock samples collected from the
Courcy property. The protocol included the insertion and monitoring
of appropriate reference materials, in this case high concentration
(OREAS-210) and low concentration (OREAS-252) certified gold
standards, blanks and duplicates, to validate the accuracy and
precision of the assay results. All collected rock samples were put
in sturdy plastic bags, tagged and sealed in the field under the
supervision of geologists in training. 1 to 2 kg till samples were
gathered with the help of a clean steel shovel. They were put in
sturdy plastic bags, tagged and sealed in the field under the
supervision of geologists in training. All sample bags were then
put in rice pouches and kept securely in a field tent before being
sent by floatplane to the city of Wabush. Transport to Actlabs
laboratories in Ancaster, Ontario was made by truck from reliable
transport companies. Gold was analyzed by fire assay method
(1A2_ICP_50 g). Gold and other trace element concentrations
determined on till samples were obtained via the INAA+ICP_OES (1H)
method.
The technical content of this release was
approved by Michel Boily, PhD, geo; a Qualified Person (QP) as
defined by National Instrument 43-101.
Follow us on www.Stelmine.com and on our
Facebook page (Stelmine Canada) where we uploaded pictures of the
Courcy camp and of our crew at work.
About StelmineStelmine is a
junior mining exploration company which concentrates its activities
in the Province of Québec. Stelmine holds 843 claims spanning 438
km2 on the eastern part of the Opinaca metasedimentary basin, which
contains zones with a high potential for gold deposit discovery in
geological contexts similar to the one leading to discovery of the
Éléonore Mine. Its capital stock consists of 37,324,046 issued and
outstanding shares.
Forward-looking statements
Certain information contained herein may
constitute “forward-looking information” under Canadian securities
legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as, “will
be”, “expected” or variations of such words and phrases or
statements that certain actions, events or results “will” occur.
Forward-looking statements regarding the listing and trading of the
Corporation’s common shares on the CSE and the availability of a
listing statement on the CSE’s website and on SEDAR are based on
the Company’s estimates and are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Corporation
to be materially different from those expressed or implied by such
forward-looking statements or forward-looking information. There
can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements and
forward-looking information.
The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
release.
For more information :
Isabelle Proulx President and
CEO |
Christian GuilbaudBusiness Development |
418-626-6333info@stelmine.com |
514-813-7862 |
Stelmine.com |
|
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