Stone Gold Inc. Announces Fall Glenrock Property Exploration Results
TORONTO, Nov. 09, 2020 (GLOBE NEWSWIRE) — Stone Gold Inc. (TSX-V / STG) (“Stone Gold” or the “Company“) is pleased to announce that the results from its fall 2020 surface rock and soil geochemical sampling program are available for the Glenrock Gold Property (“Property”) located 100 km north of Sault Ste. Marie, Ontario. The exploration program was undertaken in follow-up to the results of the surface sampling program reported in the Sept 10, 2020 News Release.
http://stonegold.ca/cr-capital-corp-announces-summer-glenrock-property-exploration-resultsDuring the program, 28 surface rock geochem samples were obtained from outcrop and 30 soil geochem samples were collected over a GPS located grid covering the Glenrock West and Glenrock Northwest occurrences with the larger Glenrock Property area.2020 Fall Program Results
The results of the fall 2020 program further advance and ready gold drill targets for the winter of 2020 in the vicinity of the Glenrock Main, West and Northwest occurrences. Best results include 4.59 g/t Au in a grab sample adjacent to an overgrown historic trench along the main east west trend between the Glenrock West and Main gold occurrences. Chip sampling of gossanous friable rocks across the shear zone within the trench returned a grade of 1.32 g/t Au over 5 metres.Follow-up field investigation of the high grade Glenrock Northwest occurrences, which had previously reported 13.4 g/t Au from a grab sample in 2018, included the collection of five 0.5 sq. m composite grab samples in the immediate area which averaged 5.82 g/t Au with the highest grade sample reporting 11.8 g/t Au. Other sampling included following the Glenrock West occurrence westward where a grab sample of the favorable highly silicified finely pyritic sheared rocks was obtained from an overgrown pit reporting 1.99 g/t Au before trending into an adjacent swamp. In summary, the analytical results range from <0.01 to 11.8 g/t Au averaging 1.74 g/t Au. The analytical highlights from this program are presented in the below table.The results of the extended soil survey reported elevated gold values averaging 43 ppb Au both to the west and east southeast of the Glenrock West occurrence area coincident with the presence of anomalous gold values from the rock samples. Additional elevated gold values in soil were reported in samples east and west along strike from the Glenrock Northwest occurrence. The soil results also suggest the presence of a possible third parallel westward line of elevated gold values extending from the Glenrock North occurrence trending between the Glenrock Northwest and Glenrock West occurrences.Summary of Exploration
The results of the rock and soil sampling completed in the Glenrock area by the Company since 2018 compiled with historic diamond drilling and trenching results are shown in the below figure. The results indicate the continuity of over 400 metres strike length of gold mineralization trending from the Glenrock Main to west of the Glenrock West occurrences. This zone and the others are open for expansion to the west into a swamp, and to the east where the Glenrock Main occurrence trends into an esker.The compilation map shows the documented widespread elevated to ore grade surface and drilling gold results in the Glenrock Gold property area supporting the presence of a major gold mineralizing system open in all directions that needs to be properly tested and defined.A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/73ee5c3e-c46a-4792-9899-02d323676be9Additional Staking and Exploration Permit
Based upon the results of the 2020 exploration of the Property, the Company has staked an additional 46 unpatented cell claims to its Glenrock Gold Property (“Property”). As a result, the Property now is enlarged to approximately 2,560 hectares contiguous to the northwest with the larger Coppercorp Property also held 100% by Stone Gold. The staking was completed on the east and south boundaries of the Property to cover extensions of the favourable Archean geology that hosts multiple Au occurrences being investigated in the Glenrock area. The following map shows the updated boundaries of the Glenrock and Coppercorp properties.A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87487008-9371-449c-82fa-44984ce81a17The Company also wishes to announce that it has received an Exploration Permit from the Ministry of Energy, Northern Development and Mines to complete diamond drilling on its Glenrock Gold Property. A consultation process is ongoing with the Batchewana First Nation with the purpose of negotiating a drilling permit to conduct subsurface exploration on their traditional territory.Stone Gold President and CEO John Timmons states “We are pleased with the continued success at the Glenrock Project. Due to the grade of the gold samples from the overall 2020 program, the Company has staked additional contiguous claims to amass a 2,560-hectare land package in this under-explored district.”QA/QC
The collected rock samples for the site visit pertaining to this program were delivered directly by the Qualified Person to the AGAT Laboratories facility in Mississauga, Ontario. The Qualified Person submitted a blind Au standard plus a coarse quartz blank into each submitted batch. The submitted samples were prepared by crush to 90% passing 2mm, split to 250 gm and pulverize to 85% passing 75um (Method Code 200-002). The samples were analyzed for gold at the AGAT Laboratories facility at Mississauga by Au by fire assay, ICP-OES Finish, 50g with a range 0.001 – 10 ppm (Method Code 202-552, gravimetric assay for over-limit >10 ppm Au samples), and for multielement metals analysis by 4-Acid Digestion and ICP-OAS method finish with re-assay for over-limit >10 gm for Au. The AGAT Mining Geochemistry Laboratory is accredited to ISO 17025 by the Standards Council of Canada (SCC).The information in this press release has been reviewed and approved by Trevor Boyd, P. Geo., and a Qualified Person for the technical information under NI 43-101 standards.For further information, please contact:
Mr. John Timmons
President & CEO
Stone Gold Inc.
Cellular (416) 931 2243
Web: www.stonegold.caStone Gold Inc. is engaged in the acquisition, exploration and evaluation of properties for the mining of precious and base metals.Caution Regarding Forward-Looking Information
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 Transaction, 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 Transaction on the terms as announced or at all, 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.Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.