Stelmine Initiates a Large Exploration Program (Phase 1) at the Mercator Property
2023年6月20日 - 11:00PM
Stelmine Canada ("Stelmine") (TSXV: STH) is
pleased to announce the beginning of its largest exploration
program to date on the 100%-owned Mercator property located in
northeastern Quebec.
The exploration program has already started and
will be completed by mid-October. This first exploration phase has
several objectives conductive to a second stage entirely devoted to
drilling. In detail, Phase 1 of the program will include:
- A definition
Induced Polarity (IP)/Resistivity survey on the 2.5 k x 500 m
gold-bearing Meridian Zone to constrain the location of gold
targets to drill. A complementary survey aimed at extending the
areas of gold discoveries will be completed on the northern
extension of the Meridian Zone (T-Rex Zone?) where an important
fold is suspected to deform iron formations;
-
Systematic/Detailed geological and structural mapping of the
Meridian Zone to interpret the mineralized zones and characterize
the nature of lithologies. Grab rock and channel sampling in the
gold-prospective T-Rex Zone north of Meridian (Figure 1);
- Intensive
exploration and grab rock/channel sampling of the 21 km-long
southwestern extension of the Meridian Zone where preliminary
prospecting identified gold and arsenic-bearing iron
formations;
- Following a
successful till survey campaign (C-Horizon) that identified new
gold targets outside the Meridian Zone, we will carry out
high-resolution soil surveys (100 x 200 m spacing) in the northern
T-Rex Zone and southwestern extension of the Meridian Zone.
Medium-resolution soil surveys (200 x 400 m spacing) on the
northern and southwestern areas of the Mercator property will
follow;
- A particular
attention will be given to the identification the lithium potential
of granitic pegmatites and granites while exploring the
property.
Figure 1. Total Magnetic Intensity (TMI) contour
map showing the gold-bearing Meridian zone and investigated
high-gold potential T-Rex Zone at the core of the Mercator
property: https://www.globenewswire.com/NewsRoom/AttachmentNg/3d0c6544-efe3-4fe9-9f86-a8d8566d4394
Qualified Person
The technical information in this news release
has been reviewed and approved by Michel Boily, PGeo, 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 metasedimentary basin where
the geological context has similarities to the Eleonore mine.
Stelmine has 100% ownership of 1 782 claims or 938 km² in this part
of northern Quebec, highlighted by the Courcy and Mercator
Projects.
Forward-looking
statements
Certain information in this press release may
contain forward-looking statements, such as statements regarding
the expected closing of and the anticipated use of the proceeds
from the Offering, acquisition and expansion plans, availability of
quality acquisition opportunities, and growth of the Company. This
information is based on current expectations and assumptions
(including assumptions in connection with obtaining all necessary
approvals for the Offering and general economic and market
conditions) that are subject to significant risks and uncertainties
that are difficult to predict. Actual results might differ
materially from results suggested in any forward-looking
statements. Risks that could cause results to differ from those
stated in the forward-looking statements in this release include
those relating to the ability to complete the Offering on the terms
described above. The Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward-looking
statements unless and until required by securities laws applicable
to the Company. Additional information identifying risks and
uncertainties is contained in the Company’s filings with the
Canadian securities regulators, which filings are available at
www.sedar.com.
Cautionary statement
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.
For further information, contact:
Isabelle Proulx,
President and CEOStelmine |
Investor
Relations: |
Tel: 418-626-6333 |
MarketSmart
Communications Inc |
info@stelmine.com |
Adrian Sydenham |
|
Toll-free: 1-877-261-4466 |
|
info@marketsmart.ca |
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