VANCOUVER, BC, Oct. 3, 2024
/CNW/ - 1911 Gold Corporation ("1911 Gold" or
the "Company") (TSXV: AUMB) (OTCBB: AUMBF) (FRA: 2KY) is
pleased to announce the mobilization of a drill rig for the 2024
surface drill program, commencing mid-October, 2024, at the
Company's 100%-owned Rice Lake Gold property in Manitoba, Canada.
Highlights:
- Initial 6,000 metre ("m") drill program planned to
commence in mid-October, focusing on near surface targets within
the True North Gold Mine footprint
- Three (3) priority drill target areas generated through
detailed data review, and updated geological interpretation:
- San Antonio West Target, 3 drill holes totalling
1,200m testing a large target hosted
within the prolific San Antonio
mafic with historical drill intercepts of up to 3.38m @ 7.93 grams per tonne ("g/t") gold ("Au")
and 3.08m @ 9.80 g/t Au
- San Antonio Southeast Target, 4 drill holes totalling
2,500m testing a significant target
area located within the San
Antonio mafic with historical drill assays of up to
3.20m @ 6.25 g/t Au and
3.63m @ 4.01 g/t Au
- Cohiba East Target, 3 drill holes totalling 1,300m testing two subparallel structures,
covering the eastern extensions of the Cohiba mine, with
historical drill intercepts of up to 1.58m @ 41.51 g/t Au and 5.85m @ 8.39 g/t Au, including 2.74m @ 13.17 g/t Au
- An additional 1,000m have been
allocated for follow-up drilling based on results
- Additional drill targets expected to be generated following
finalization of the mineral resource update later this month,
focused on resource expansion drilling
Shaun Heinrichs, President & CEO, stated, "Our new team
is very excited to be drilling several key targets at our True
North Mine asset. The three target areas each show significant
potential to host high grade gold mineralization and can be easily
upgraded to mineral resources due to their close proximity to
existing infrastructure and underground mine workings. With the
forthcoming mineral resource estimate update we will also be
looking to generate additional resource extension and expansion
targets. The exploration team has also identified additional new
resource drill targets at depth which, combined with the pending
resource expansion targets and current shallow drill targets,
highlight the significant potential to increase the gold resource
base at the True North Gold Mine."
The 6,000m diamond drill program
at the True North Gold Mine area has been designed to test the
potential of high-grade vein hosted gold mineralization defined
by:
- Proximity to know mineralized veins and underground
infrastructure
- Areas with historical gold mineralized drill intercepts outside
of the current and pending new resources
- Location within known shear zone corridors and their
intersections with favourable host rocks
- Located within the first 400m
from surface
San Antonio West target
The San Antonio West target occurs as a potential extension or
subparallel gold mineralized vein system to the historical San
Antonio Zone at the True North Gold Mine. The San Antonio zone historically produced
1,309,351 ounces Au at a grade of 9.33 g/t Au. It represents a
priority target hosted within the prolific San Antonio mafic unit and the intersection
with the Cartwright South shear zone. The drill targeted area is
located in proximity to the True North underground mine workings
and is well defined by historical gold mineralized drill intercepts
along strike to the west (Figure 3 and 4) including the
following:
- Drill Hole CW-06-069: 3.38m @ 7.93 g/t Au
- Drill Hole GAB-06-071: 1.62m @
3.54 g/t Au
- Drill Hole GAB-60-012: 0.98m @
8.91 g/t Au
- Drill Hole GAB-06-010: 0.79m @
10.97 g/t Au
- Drill Hole GAB-28-014: 1.74m @
6.54 g/t Au
- Drill Hole CW-06-073: 1.95m @
4.05 g/t Au
San Antonio Southeast target
The San Antonio Southeast target is a potential extension of the
known gold mineralization within the San Antonio Mine vein
system. It is located on the intersection of the highly mineralized
San Antonio Mafic unit and the interpreted L10 and L10 South shear
zones. This geological intersection hosts the historical gold
mineralization at the San Antonio
zone within the True North Gold Mine and historically produced
1,309,351 ounces Au at a grade of 9.33 g/t Au.
The San Antonio Southeast target occurs in close proximity to
underground mine workings and has been historically drilled with
significant gold intercepts, including the following (Figure 5 and
6):
- Drill Hole AB-07-003: 2.16m @
12.90 g/t Au
- Drill Hole AB-10-001: 3.63m @
3.67 g/t Au
- Drill Hole AB-06-006: 3.63m @
4.01 g/t Au
- Drill Hole AB-06-005: 3.20m @
6.25 g/t Au
- Drill Hole AB-06-002: 2.50m @
4.02 g/t Au
- Drill Hole AB-06-008: 4.08m @
3.33 g/t Au
Cohiba East target
The Cohiba East target occurs as two modelled subparallel
veins (North Vein and South Vein located to the East of the
previously mined Cohiba zone. The targeted veins are located within
the highly mineralized volcanic breccia package and the
intersection with the WSW (Cohiba-L13) shear zone. The target has
been historically drilled intersecting high-grade gold intercepts
and occurs as the extensions of known vein hosted gold
mineralization (Figure 7 and 8):
- Drill Hole ST-11-006: 1.58m @
41.51 g/t Au
- Drill Hole ST-11-006: 0.30m @
18.86 g/t Au
- Drill Hole ST-11-008: 5.85m @
8.39 g/t Au, including 2.74m @ 13.17
g/t Au
- Drill Hole ST-11-008: 1.83m @
11.15 g/t Au
- Drill Hole ST-12-003: 1.89m @
12.11 g/t Au
The current planned drill program testing targets within the
True North Gold Mine complex is a results based program and
represents the start of a larger drill program. The program will be
expanded to also target extensions of the new updated resource due
to be completed in October, 2024, new gold mineralized targets at
depth within the True North Mine area as well as new targets
initially targeting new resources within exploration targets
outside of the True North Mine area and within the Company's
prolific 63,000 hectares ("ha") land package covering the Rice Lake
greenstone belt, including the Ogama-Rockland gold resource
area.
Quality Assurance/Quality Controls (QA/QC)
Core samples are collected by sawing the drill core along the
axis in half, with one-half sample labelled, placed in plastic
sample bags and sealed and the other half retained for future
reference. A batch of 20 samples are placed into durable
rice bags and shipped to a certified commercial laboratory. A
strict QA/QC program will be applied to all samples, which includes
insertion of certified gold mineralized standards and blank samples
at intervals of one every 20 samples, additional blanks will be
inserted after samples hosting visible gold. The gold analyses will
be completed by fire-assay with an atomic absorption finish on 50
grams of prepared material. Samples returning values greater or
equal to 5.00 g/t Au will be reanalysed by fire assay with a
gravimetric finish. Total gold analyses (Screen Metallic Sieve)
will be carried out on highly mineralized samples or the presence
of visible gold.
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective,
consolidated land package totalling more than 63,000 ha within and
adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine
and mill complex at Bissett,
Manitoba. 1911 Gold believes its land package is a prime
exploration opportunity, with potential to develop a mining
district centred on the True North complex. The Company also owns
the Apex project near Snow Lake,
Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on
organic growth and accretive acquisition opportunities in
North America.
1911 Gold's True North complex and exploration land package are
located within the traditional territory of the Hollow Water First
Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks
forward to maintaining open, co-operative and respectful
communication with the Hollow Water First Nation, and all local
stakeholders, in order to build mutually beneficial working
relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Shaun Heinrichs
President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This news release may contain forward-looking statements. Often,
but not always, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
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or describes a "goal", or variation 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.
All forward-looking statements reflect the Company's beliefs and
assumptions based on information available at the time the
statements were made. Actual results or events may differ from
those predicted in these forward-looking statements. All of the
Company's forward-looking statements are qualified by the
assumptions that are stated or inherent in such forward-looking
statements, including the assumptions listed below. Although the
Company believes that these assumptions are reasonable, this list
is not exhaustive of factors that may affect any of the
forward-looking statements.
Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors which
may cause the actual results, performance or achievements to be
materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or
implied by the forward-looking statements. All statements that
address expectations or projections about the future, including,
but not limited to, statements with respect to the terms of the
Offering, the use of proceeds of the Offering, the timing and
ability of the Company to close the Offering, the timing and
ability of the Company to receive necessary regulatory approvals,
the tax treatment of the securities issued under the Offering, the
timing for the Qualifying Expenditures to be renounced in favour of
the subscribers, and the plans, operations and prospects of the
Company, are forward-looking statements. Although 1911 Gold has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release
are given as of the date hereof. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except in accordance with applicable securities
laws.
Neither 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 release.
SOURCE 1911 Gold Corporation
