Stone Gold Completes Drilling at Mt. Jamie North Property, Red Lake, Ontario
TORONTO, April 08, 2021 (GLOBE NEWSWIRE) — Stone Gold Inc. (TSX-V: STG) (“Stone Gold” or the “Company“) is pleased to announce that it has completed an initial drill program on the untested Mt. Jamie North Gold Project, located in the western extension of the prolific Red Lake Gold Camp in Ontario.
This drill program consisted of 954 metres of diamond drilling that tested three targets. These targets occur in a structural-mineralization corridor within volcanic and sedimentary rocks, key ingredients for the region’s gold deposits.
Three holes were drilled as per the exploration plan and all three have intersected their targets as shown in fig. 1. The targets include the west extension of the main “Gold Trend” as well as the “Carb Unit Trend”, as shown in fig. 2. The holes have been logged and are being sampling and assayed. Results are expected to be all received and interpreted in 3-4 weeks.
Stone Gold President and CEO John Timmons comments “We are pleased to have completed an initial drill program on the untested Mt. Jamie North Property. The property is 200 metres from the former Mt. Jamie No. 2 mine shaft and approximately 1 km. from the former Mt. Jamie mine which had an historical production grade of 13.3 g/t Au. Our mission is to establish the existence of gold mineralization in the far western trend of the Red Lake mining camp. We hope to contribute to the gold exploration success that Trillium Gold and West Red Lake Gold are having in the immediate vicinity.”
The information in this press release has been reviewed and approved by Tim Twomey, P. Geo., and a Qualified Person for the technical information under NI 43-101 standards.
Stone Gold Inc. is engaged in the acquisition, exploration and evaluation of properties for the mining of precious and base metals.
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This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Stone Gold. Forward-looking statements include estimates and statements that describe Stone Gold’s future plans, objectives or goals, including words to the effect that Stone Gold or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Stone Gold, Stone Gold provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Stone Gold’s objectives, goals or future plans, statements, details of the exploration results, potential mineralization, Stone Gold’s portfolio, treasury, management team and enhanced capital markets profile, the timing of the Offering, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions.
Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure or inability to complete the Offering, regulatory approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Stone Gold’s public documents filed on SEDAR. Although Stone Gold 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. Stone Gold 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.
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