TSX-V:WAR
VANCOUVER, Dec. 27, 2018 /CNW/ - Warrior Gold Inc.
(TSX-V - WAR) ("Warrior Gold" or the "Company") is
pleased to announce that the Company has received positive results
from the 3D IP (Induced Polarisation) survey on the recently
acquired Deloye Patents located in the Goodfish-Kirana Project (see
Figure #1).
Danièle Spethmann, President and CEO of Warrior Gold stated: "We
are pleased with the results of the IRIS 3D IP geophysical survey.
This is the first look at the Deloye Patents area of the Warrior
Gold land position with this new technology. Several areas of
elevated IP responses were identified (see Figure #2). The
north-central IP high is located adjacent to the Deloye historic
mine shafts south of Goodfish Lake along the Kirana Break. The
close correlation of the chargeability high to the area of known
mineralization is encouraging and gives us increased confidence
that the survey results can be used as an effective tool in
refining drill hole locations."
The survey was designed to explore the configuration/plunge of
the Kirana-Kirkland Mine mineralization located on the Deloye
patents and other parallel structures associated with
quartz-feldspar intrusives on the property. The survey was executed
by Canadian Exploration Services (CXS) of Larder Lake and covered 1.4 km2
with over 2700 IP data points acquired from a combination of 78
current injection points and 20 receiver locations.
The Deloye survey will be combined with other historical
exploration data from Goodfish-Kirana to provide a comprehensive,
property wide data layer for drill target selection.
Other
Warrior Gold continues to carry out the first
phase of an extended three phase exploration program on its
Goodfish-Kirana Property located near the town of Kirkland Lake, Ontario. Phase I is
focused on targeting and defining drill targets and developing a
better understanding of the structural deformation zones on the
property. The Company expects to announce the details of its
exploration and drilling campaign in early 2019.
About Warrior Gold Inc.
Warrior Gold is a TSX-V
listed Company and owns the Goodfish-Kirana Property located five
kilometers from the town of Kirkland
Lake, Ontario. The Property is located in the historic
Kirkland Lake Gold Camp which is
situated in the prolific Abitibi Greenstone Belt; recognized as one
of the world's highest-grade greenstone belts with over 200 million
ounces of gold produced to date.
The Goodfish-Kirana Property is 11.5 km long by roughly 3
km wide (34 km2) and contains three major structural
trends; the East West trending Kirana Deformation Zone; the North
East trending Goodfish Deformation Zone; and the Victoria Creek DZ
on the recently acquired Sutton
claims on the north east side of the property. The Property
contains numerous historical gold showings, including 18 historical
pits and shafts. The Company is exploiting this largely
underexplored land package with modern exploration technology and
regional geological expertise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements: This press
release contains forward-looking statements. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"may", "will", "would", "potential", "proposed" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. The forward-looking statements are based on certain
key expectations and assumptions made by the Company. Although
Warrior Gold believes that the expectations and assumptions on
which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking
statements because Warrior Gold can give no assurance that they
will prove to be correct. Since forward-looking statements address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of
factors and risks. In addition to other risks that may affect the
forward-looking statements in this press release are those set out
in the Company's management discussion and analysis of the
financial condition and results of operations for the year ended
March 31, 2018 and the first quarter
ended June 30, 2018, which are
available at www.sedar.com. The forward-looking statements
contained in this press release are made as of the date hereof and
Warrior Gold undertakes no obligation to update publicly or revise
any forward-looking statements or information, whether as a result
of new information, future events or otherwise, unless so required
by applicable securities laws.
SOURCE Warrior Gold Inc.