STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D)
(“STLLR” or the “Company”) announces the final assay
results from the infill and confirmatory drilling program at the 55
Zone, Westaway and Windjammer North Deposits at the Golden Highway
Area (western end) of the Tower Gold Project in Timmins, Ontario,
Canada.
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Figure 1: Tower Gold Project - General
Location Map (Graphic: Business Wire)
Table 1: 55 Zone, Westaway, and Windjammer North Drilling
Highlights (See Figures 2, 3, & 4 for drill hole location map
and section views of the 55 Zone drilling):
Deposit
Hole ID
Result
Westaway
MGH23-438
4.32 g/t Au over 15.60 m (incl.
6.63 g/t Au over 8.00 m)
55 Zone
MGH23-500
2.49 g/t Au over 16.00 m (incl.
17.15 g/t Au over 2.00 m)
55 Zone
MGH23-381
0.88 g/t Au over 43.00 m (incl. 1.45 g/t
Au over 17.00 m)
55 Zone
MGH23-464
2.13 g/t Au over 14.50 m (incl.
4.48 g/t Au over 5.80 m)
Windjammer North
MGH23-488
0.77 g/t Au over 111.72 m (incl. 1.01 g/t
Au over 26.00)
“g/t Au”: grams per tonne gold;
“m”: metres
Tower Gold Project Update:
- 135,423 m in 511 drill holes of the 2023 infill drill program
have been released.
Keyvan Salehi, P.Eng., MBA, President, CEO, and Director of
STLLR stated: “55 Zone infill drilling results continued to
intersect higher-grade, near-surface gold mineralization. The
results from the 55 Zone provided critical information that allows
us to update and refine the Tower MRE block model. The Westaway and
Windjammer North infill drilling results continue to confirm the
Tower MRE block model. We now have collected all the data from our
2023 infill drilling program.”
Infill Drilling at 55 Zone, Westaway, and Windjammer
North
The 55 Zone, Westaway and Windjammer North Deposits are located
on the Golden Highway Area (western end) of the Tower Gold Project
in Timmins, Ontario (See Figure 1 for the Tower Gold Project -
General Location Map). Mineralization at the 55 Zone is associated
with the Timiskaming age clastic sediment hosted stacked quartz
veins located immediately south of the regional Banded Iron
Formation “A” (“BIF A”) unit and the Destor Porcupine Fault
Zone (“DPFZ”). The 55 Zone Deposit is characterized by
higher-grade, open-pit mineralization located in the western most
portion of the Tower Gold Project. The mineralization at the 55
Zone remains open along strike to the southwest. Mineralization at
Westaway is associated with extensional and stockwork-type quartz
veining within Timiskaming age meta-sediments, located between 2
major splays of the DPFZ. Mineralization at Windjammer North,
located immediately south of and parallel to the regional DPFZ, is
hosted primarily within altered komatiitic ultramafic rocks of the
Kidd-Munro assemblage in contact with basaltic flows.
The 2023 drill program at 55 Zone, Westaway and Windjammer North
were focused on confirming and infilling (50 m drill-centre
spacings) the Tower Gold Project Mineral Resource Estimate1
(“Tower MRE”). The results at the 55 Zone provided
information that allows the Company to update the Tower MRE block
model. Drill hole MGH23-500 (See Figures 2, 3, and 4) returned
higher-grade mineralization at depth of the deposit, while drill
holes MGH23-464 and MGH23-466 (See Figures 2 and 3) returned
higher-grade mineralization closer to the surface.
The drilling results at Westaway and Windjammer North appear to
confirm the continuity of mineralization as estimated by the Tower
MRE block model. This is evident particularly with holes MGH23-436,
MGH23-438 and MGH3-488. Overall, the 2023 infill drilling program
will provide critical information to update the Tower MRE. The
increased drill density has the potential to upgrade the areas
drilled to a higher resource category and further define future
geological models.
Table 2: Tower Gold – 55 Zone, Westaway, and
Windjammer North: Drill Intercepts
Zone
Hole Number
From
(m)
To
(m)
Interval
(m)
Grade
(g/t Au)
Metal Factor (g/t Au x
m)
55 Zone
MGH23-371
38.85
49.25
10.40
2.23
23.19
55 Zone
and
61.60
64.45
2.85
0.29
0.83
55 Zone
and
105.00
174.50
69.50
0.61
42.40
55 Zone
including
173.50
174.50
1.00
14.50
14.50
55 Zone
and
224.50
226.50
2.00
2.42
4.84
55 Zone
and
241.50
243.00
1.50
1.91
2.87
55 Zone
and
280.00
286.00
6.00
0.92
5.52
55 Zone
MGH23-381
38.00
49.40
11.40
1.05
11.97
55 Zone
and
58.98
60.00
1.02
1.35
1.38
55 Zone
and
106.00
108.00
2.00
0.61
1.22
55 Zone
and
119.00
124.50
5.50
0.47
2.59
55 Zone
and
129.00
172.00
43.00
0.88
37.84
55 Zone
including
146.00
163.00
17.00
1.45
24.65
55 Zone
and
182.00
184.00
2.00
0.57
1.14
55 Zone
and
186.00
191.02
5.02
0.61
3.06
55 Zone
and
221.00
225.20
4.20
0.87
3.65
55 Zone
and
237.00
238.00
1.00
2.28
2.28
55 Zone
MGH23-389
34.00
40.65
6.65
1.03
6.85
55 Zone
MGH23-394
59.00
66.00
7.00
0.46
3.22
55 Zone
and
104.00
114.30
10.30
0.46
4.74
55 Zone
and
126.00
128.00
2.00
1.73
3.46
55 Zone
and
137.00
141.00
4.00
0.69
2.76
55 Zone
and
158.00
160.00
2.00
1.82
3.64
55 Zone
and
173.00
176.00
3.00
0.67
2.01
55 Zone
MGH23-399
92.00
106.00
14.00
0.58
8.12
55 Zone
MGH23-439
111.00
117.00
6.00
0.44
2.64
55 Zone
and
146.00
147.00
1.00
1.04
1.04
55 Zone
MGH23-442
48.00
60.00
12.00
1.11
13.32
55 Zone
and
95.00
97.00
2.00
1.92
3.84
55 Zone
and
174.00
206.00
32.00
0.90
28.80
55 Zone
MGH23-447
63.00
68.00
5.00
0.54
2.70
55 Zone
and
76.00
82.00
6.00
0.46
2.76
55 Zone
and
124.00
152.00
28.00
0.99
27.72
55 Zone
MGH23-451
68.00
70.00
2.00
0.91
1.82
55 Zone
MGH23-452
92.00
98.00
6.00
0.46
2.76
55 Zone
MGH23-453
72.00
76.00
4.00
0.76
3.04
55 Zone
and
118.00
120.00
2.00
1.13
2.26
55 Zone
and
132.00
138.00
6.00
1.29
7.74
55 Zone
MGH23-457
75.00
81.00
6.00
1.22
7.32
55 Zone
MGH23-459
61.15
64.20
3.05
1.34
4.09
55 Zone
and
77.25
79.00
1.75
5.52
9.66
55 Zone
MGH23-461
44.15
47.90
3.75
4.74
17.78
55 Zone
and
77.50
82.60
5.10
2.31
11.78
55 Zone
MGH23-462
No Significant Intervals
55 Zone
MGH23-464
49.00
63.50
14.50
2.13
30.89
55 Zone
including
49.00
54.80
5.80
4.48
25.98
55 Zone
MGH23-466
45.00
55.00
10.00
2.54
25.40
55 Zone
including
50.65
53.10
2.45
8.01
19.62
55 Zone
and
85.50
89.00
3.50
0.77
2.70
55 Zone
MGH23-491
0.00
0.00
0.00
0.00
0.00
55 Zone
MGH23-497
0.00
0.00
0.00
0.00
0.00
55 Zone
MGH23-498
28.00
38.00
10.00
0.45
4.50
55 Zone
and
52.00
61.00
9.00
1.06
9.54
55 Zone
and
118.00
123.00
5.00
0.71
3.55
55 Zone
and
133.00
137.00
4.00
0.47
1.88
55 Zone
and
236.00
250.00
14.00
0.42
5.88
55 Zone
and
319.00
323.00
4.00
0.97
3.88
55 Zone
MGH23-499
23.00
26.00
3.00
0.63
1.89
55 Zone
and
44.60
46.00
1.40
1.38
1.93
55 Zone
and
73.45
79.00
5.55
0.64
3.55
55 Zone
and
130.00
141.90
11.90
1.41
16.78
55 Zone
and
167.00
173.00
6.00
0.76
4.56
55 Zone
and
189.35
199.75
10.40
1.37
14.25
55 Zone
and
217.93
219.00
1.07
1.53
1.64
55 Zone
MGH23-500
45.00
48.10
3.10
2.81
8.71
55 Zone
and
87.00
89.00
2.00
1.82
3.64
55 Zone
and
97.93
99.36
1.43
1.64
2.35
55 Zone
and
137.35
149.00
11.65
1.03
12.00
55 Zone
and
170.00
172.00
2.00
2.66
5.32
55 Zone
and
182.00
198.00
16.00
2.49
39.84
55 Zone
including
194.00
196.00
2.00
17.15
34.30
55 Zone
and
224.00
238.00
14.00
0.89
12.46
55 Zone
and
261.00
263.00
2.00
1.47
2.94
Windjammer North (WJN)
MGH23-347
51.00
107.00
56.00
0.57
31.92
Windjammer North (WJN)
including
51.00
63.00
12.00
1.09
13.08
Windjammer North (WJN)
MGH23-348
42.60
106.15
63.55
0.77
48.93
Windjammer North (WJN)
MGH23-488
30.00
141.72
111.72
0.74
82.67
Windjammer North (WJN)
including
106.00
132.00
26.00
1.01
26.26
Westaway
MGH23-436
161.50
196.45
34.95
0.61
21.32
Westaway
including
174.42
181.75
7.33
1.46
10.70
Westaway
MGH23-438
267.00
282.60
15.60
4.32
67.39
Westaway
including
267.00
275.00
8.00
6.63
53.04
Westaway
MGH23-445
107.00
109.00
2.00
3.70
7.40
Westaway
and
127.00
130.00
3.00
2.27
6.81
Westaway
and
146.00
154.00
8.00
0.42
3.36
Westaway
and
225.00
229.00
4.00
2.08
8.32
Westaway
MGH23-448
No Significant Intervals
Westaway
MGH23-492
Geomechanical
Westaway
MGH23-495
Metallurgical
Westaway
MGH23-496
Westaway
MGH23-496A
Westaway
MGH23-496B
Westaway
MGH23-501
165.00
169.00
4.00
1.31
5.24
Westaway
and
179.00
183.00
4.00
1.99
7.96
Westaway
MGH23-502
No Significant Intervals
Note: All intercepts are calculated using
a 0.30 g/t Au cut-off, a maximum of 5m internal dilution and no top
cap applied. Drill intercepts are not true widths. Failed holes,
Geomechanical and Geometallurgical drill holes are not shown in the
section because they were not assayed.
Table 3: Tower Gold – 55 Zone and Westway:
Infill Drill Hole Details
Zone
Hole
Number
Easting
Northing
Elevation
Azimuth
Inclination
End
of Hole Depth (m)
55 Zone
MGH23-371
569208.042
5368884.268
319.815
159.91
-58.02
291.0
55 Zone
MGH23-381
569208.136
5368884.282
319.939
160.17
-53
270.0
55 Zone
MGH23-389
569164.78
5368767.11
318.74
160.05
-54.84
75.0
55 Zone
MGH23-394
569131.995
5368818.866
319.237
160.02
-60.09
180.0
55 Zone
MGH23-399
568992.11
5368743.138
319.339
160.14
-55.14
126.0
55 Zone
MGH23-439
569386.54
5368959.449
319.809
159.98
-56.12
162.0
55 Zone
MGH23-442
569370.275
5368921.703
319.184
159.94
-56.2
213.0
55 Zone
MGH23-447
569343.033
5368878.504
318.485
160.05
-55.99
180.0
55 Zone
MGH23-451
569380.783
5368827.161
318.731
159.9
-56.02
111.0
55 Zone
MGH23-452
569431.476
5368936.017
319.536
160.09
-56.07
111.0
55 Zone
MGH23-453
569460.627
5368912.047
319.311
158.07
-56.09
150.0
55 Zone
MGH23-457
569456.068
5368823.559
321.233
160.1
-56.05
102.0
55 Zone
MGH23-459
569494.598
5368814.063
319.886
160.01
-55.19
111.0
55 Zone
MGH23-461
569478.538
5368865.932
319.302
160.02
-56.06
132.0
55 Zone
MGH23-462
569549.823
5368839.616
319.823
160.01
-55
90.0
55 Zone
MGH23-464
569538.405
5368862.401
319.787
160.07
-55.11
102.0
55 Zone
MGH23-466
569509.29
5368849.081
319.738
160.01
-55.15
102.0
55 Zone
MGH23-491
569345.23
5368850.092
318.884
0.03
-75.03
180.0
55 Zone
MGH23-499
569254.614
5368886.9
319.6
160.14
-56.06
270.0
55 Zone
MGH23-500
569160.087
5368871.18
319.66
160.05
-56
282.0
WJN
MGH23-347
572229.651
5370872.207
330.959
75.12
-61.05
111.0
WJN
MGH23-348
572142.769
5370902.802
329.966
75.27
-61.20
150.0
WJN
MGH23-488
572082.818
5370840.501
329.526
75.03
-60.15
162.0
Westaway
MGH23-436
570133.596
5369021.564
324.801
59
-58.13
270.0
Westaway
MGH23-438
570186.295
5369025.76
321.394
59.05
-57.13
321.0
Westaway
MGH23-445
570142.832
5368980.686
320.739
59.07
-59.1
282.0
Westaway
MGH23-448
570292.983
5369173.108
322.012
59.95
-59.02
180.0
Westaway
MGH23-492
570276.384
5369143.453
322.033
290.08
-74.95
261.1
Westaway
MGH23-495
570225.42
5369148.574
327.02
50.08
-60.03
162.0
Quality Control Procedures NQ drill core is oriented and
cut with half sent to ALS Laboratories Inc. (ALS) for drying and
crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm
(200#). ALS is an ISO 17025 accredited laboratory. A 50 g charge is
Fire Assayed and analyzed using an AAS finish for Gold. Samples
above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric
finish and selected samples with visible gold or high-grade
mineralization are assayed by Metallic Screen Fire Assay on a 1.00
kg sample. STLLR inserts independent certified reference material
and blanks with the samples and assays routine pulp repeats and
coarse reject sample duplicates, as well as completing routine
third-party check assays at Bureau Veritas Commodities Canada
Ltd.
Qualified Person John McBride, MSc., P.Geo., Vice
President of Exploration for STLLR, who is the “Qualified Person”
as defined by NI 43-101 for this project, has reviewed and approved
of the technical disclosure contained in this news release.
About STLLR Gold STLLR Gold Inc. (TSX: STLR; OTCQX:
STLRF; FSE: O9D) is a Canadian gold development company actively
advancing two cornerstone gold projects in Canada: The Tower Gold
Project in the Timmins Mining Camp in Ontario and the Colomac Gold
Project located north of Yellowknife, Northwest Territories. Each
of these two projects has the potential for a long-life and
large-scale operation and are surrounded by exploration land with
favorable upside potential. STLLR’s experienced management team,
with a track record of successfully advancing projects and
operating mines, is working towards rapidly advancing these
projects.
Forward-Looking Information This news release contains
“forward-looking information” within the meaning of applicable
Canadian securities legislation. Forward-looking information
includes, but is not limited to confirmation of the Tower MRE block
model, potential expansion of the known mineralization at the Tower
Gold Project, the timing of the release of the assay results, the
goals, synergies, strategies, opportunities, profile, mineral
resources and potential production, project timelines, prospective
shareholding, integration and comparables to other transactions,
the future financial or operating performance of STLLR and STLLR’s
mineral properties and project portfolios, the advancement of the
Tower Gold and Colomac Gold Projects, long-life and large-scale
potential of the Tower and Colomac Gold Projects and exploration
upside of the land packages. Generally, forward-looking information
can be identified by the use of forward-looking terminology such as
“accelerate”, “add” or “additional”, “advancing”, “anticipates” or
“does not anticipate”, “appears”, “believes”, “can be”,
“conceptual”, “confidence”, “continue”, “convert” or “conversion”,
“deliver”, “demonstrating”, “estimates”, “encouraging”, “expand” or
“expanding” or “expansion”, “expect” or “expectations”,
“fast-track”, “forecasts”, “forward”, “goal”, “improves”,
“increase”, “intends”, “justification”, “leading”, “plans”,
“potential” or “potentially”, “pro-forma”, “promise”,
“prospective”, “prioritize”, “reflects”, “re-rating”, “robust”,
“scheduled”, “stronger”, “suggesting” or “suggests”, “support”,
“updating”, “upside”, “will be” or “will consider”, “work towards”,
or variations of such words and phrases or state that certain
actions, events or results “may”, “could”, “would”, “might”, or
“will be taken”, “occur”, or “be achieved”.
Forward-looking information is based on the opinions and
estimates of management at the date the information is made, and is
based on a number of assumptions and is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
STLLR to be materially different from those expressed or implied by
such forward-looking information, including risks associated with
required regulatory approvals, the exploration, development and
mining such as economic factors as they effect exploration, future
commodity prices, changes in foreign exchange and interest rates,
actual results of current exploration activities, government
regulation, political or economic developments, the ongoing wars
and their effect on supply chains, environmental risks, COVID-19
and other pandemic risks, permitting timelines, capex, operating or
technical difficulties in connection with development activities,
employee relations, the speculative nature of gold exploration and
development, including the risks of diminishing quantities of
grades of reserves, contests over title to properties, and changes
in project parameters as plans continue to be refined as well as
those risk factors discussed in the joint management information
circular of STLLR dated December 20, 2023, available on
www.sedarplus.ca. Although STLLR has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. STLLR does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
____________________________________ 1 For more information on
the Tower MRE and Tower PEA effective as of September 7, 2022,
please refer to the NI 43-101 technical report titled “NI 43-101
Report & Preliminary Economic Assessment of the Tower Gold
Project Northeastern Ontario, Canada” dated November 29, 2022,
which is available on STLLR Gold’s profile on SEDAR+
www.sedarplus.ca and www.stllrgold.com
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