Brunswick Exploration Outlines Program for 2021
MONTREAL, Jan. 20, 2021 (GLOBE NEWSWIRE) — Brunswick Exploration Inc. (“BRW” or the “Company”) is pleased to announce its planned exploration program for 2021. The Company’s projects include the highly prospective Fundy Gold Project and the Bathurst Mining Camp (BMC) Option both located in New Brunswick as well as the Waconichi VMS Project located near Chibougamau in Quebec.
New BrunswickFundy Gold Project – Gold-Silver-CopperOngoing prospecting across the entire property. Since consolidating this grass-roots project in late 2020, BRW began a prospecting program targeting high priority areas along the Fundy Shear Zone, a major deep-rooted fault corridor hosting multiple showings of gold-silver-copper vein mineralization. The prospecting and sampling program will be expanded in 2021 to cover the entire 45 kilometres strike length of the project area. The first set of results, comprising of 130 grab samples, are anticipated by the end of the month.Results from soil sampling at Rogers Lake and trenching at Little Lepreau expected in the next three weeks. Both areas were optioned by BRW in October 2020 (see press release dated October 27 2020). At Rogers Lake, 2,000 soil samples were taken (every 25m with a line spacing of 100m) covering an area of 500 hectares. The soil geochemical program covered the highly prospective Seven Mile Lake mylonite along the Belleisle Fault. Additional trenching, mapping and prospecting at Lepreau and Rogers Lake identified more veining that resulted in the collecting of 92 channel samples.BMC Option– Base MetalsBorehole EM survey at Key Anacon. In early January 2021, the Company began a five hole, 4,800m down hole EM survey targeting the deep portions of the Key Anacon Titan Deposit. The existing resource at the Titan Deposit (0.29 Mt grading 4.36% Zn, 1.57% Pb, 0.65% Cu and 38.80 g/t Ag in the indicated category and 0.98 Mt grading 4.12% Zn, 1.62% Pb, 0.78% Cu and 42.90 g/t Ag in the inferred category) is constrained from surface to a depth of approximately 550 meters. Of note, historical drill hole KA-01-15B, one of the holes to be pulsed, intersected mineralization (10.03% ZnEq over 13.00m) roughly 550m below the current resource boundaries of the Titan Deposit.Drilling along the Brunswick Belt in late Q2. The new lithological model along the Brunswick Belt from Brunswick No.12 to Gilmour South has generated new target areas that are completely unexplored. Many of these target areas were unknown to previous operators and represent the culmination of extensive compilation work over the previous three years. This model will be wireframed in Q1 and includes 50 geological sections spanning 3-4 kilometers over a strike length of 22 kilometers. Many of the targets have coincident resistivity, electromagnetic, magnetic, gravity and/or geochem anomalies.QuebecWaconichi VMS Project – Base MetalsAirborne gravity gradiometry survey to be completed in H1. BRW has identified a number of promising EM targets across the property and will utilize the gravity survey to further prioritize targets across the project.
Mr. Killian Charles, President of BRW, commented: “With the closing of two over-subscribed financings in late 2020, we are well positioned to advance a robust exploration program across all our projects in Eastern Canada. I look forward to see the results from our 2020 soils, channel, and prospecting programs at our Fundy Gold Project. Since the initial staking in October 2020, we have increased the Fundy Gold Project land package to roughly 53,000 hectares. This area has many hallmarks of well-endowed gold camps but has seen very limited exploration work. We expect 2021 to be rich in catalysts, as we explore for the next precious and base metals discoveries in Eastern Canada.About Brunswick ExplorationThe Company, formerly Komet Resources Inc., is part of the Osisko Group of companies and is a Montreal-based mineral exploration venture listed on the TSX-V under symbol BRW. It is in the process of selling all of its African assets and is now focused on exploration and development of gold and base metal properties in Eastern Canada. Current projects include gold-polymetallic vein systems in southern New Brunswick (Fundy Gold Project) and base metals VMS in Northern New Brunswick (Bathurst Mining Camp) and in the Chibougamau region of Quebec (Waconichi).Investor Relations/informationMr. Killian Charles, President ([email protected])Cautionary Statement on Forward-Looking InformationThis news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. 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 news release.