Stelmine Canada Mobilizes for Drilling at Courcy
QUEBEC CITY, Oct. 01, 2021 (GLOBE NEWSWIRE) — Stelmine Canada (TSXV: STH) (“Stelmine” or the “Company) is pleased to announce that crews are now mobilizing for diamond drilling at the Company’s 100%-owned Courcy Property in northeastern Quebec to follow up on the discovery of near-surface high-grade gold in “Zone 1” where the last historical drill hole returned 42 metres grading 4.2 g/t Au including 105 g/t over 1.5 metres within a section of 12.3 g/t Au over 13.5 metres. The 42-metre discovery intercept (core interval) started just 12 metres downhole.
The 3,000-metre Phase 1 diamond drilling program at Courcy, scheduled to commence on or about October 5, 2021, will target gold-bearing zones at the core of a folded thrust fault exposing highly deformed and metamorphosed garnet and sulphide-rich iron formations and amphibolites at the hinge point of a broad antiform.
Gold mineralization observed in Zone 1 appears shallow dipping and is associated with a 21-km-long fault zone discovered by Stelmine geologists who followed up SOQUEM’s limited historical work carried out more than a decade ago. SOQUEM drilled just eight shallow holes at Courcy totalling less than 800 metres, all in “Zone 1”, and the last hole returned the very significant 42-metre intercept with the core data reviewed by Stelmine geologists. Over the last 3 years, extensive geological and structural mapping of the area by the Stelmine team has produced a robust geological model for Courcy.
High-Grade Gold 2.4 km South of Discovery Hole
Approximately 2.4 km south of SOQUEM’s 2006 discovery hole, historical channel sampling returned gold values as high as 167 g/t Au over 0.5 metre in one of several prospective zones already outlined at Courcy (“Zone 4”). Extensive exploration of this zone by Stelmine confirms the gold potential with the discovery of new showings.
Courcy lies at the under-explored eastern edge of the 600-km-long Opinaca metasedimentary basin that also hosts Newmont’s Eleonore mine on the western side of the James Bay Territory. Stelmine’s total land package in the Caniapiscau district (Courcy, Mercator plus three other properties) now encompasses more than 800 km2. These properties feature several geological similarities to Eleonore.
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The technical information in this news release has been reviewed and approved by Michel Boily, P. Geo, PhD. Mr. Boily is the qualified person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Stelmine Canada
Stelmine is a junior mining exploration company pioneering a new gold district (Caniapiscau) east of James Bay in the under-explored eastern part of the Opinaca metasedimentary basin where the geological context has similarities to the Eleonore mine. Stelmine has 100% ownership of 1,574 claims or 815 km2 in this part of northern Quebec, highlighted by the Courcy and Mercator Projects.
FORWARD LOOKING INFORMATION
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