PIEDMONT, Quebec, 31 January 2023 /CNW Telbec/ – Goldflare Exploration inc. (TSXV: GOFL) («Goldflare» or the «Company») announces the first results from its second phase of drilling at the Syenite Condor property, located 35 km northeast of the city. Noranda Ruin.
Assay results from the first six holes totaling 997 meters were obtained with the best results of 0.97 g/t over 4.9 meters followed by 0.7 g/t over 5.9 meters from hole CDR-22 -14. (Details in the following table).
The new mineralized hole is located about 200 meters northwest of the original Condor-1 discovery (see Goldflare March 3 press release).
The six holes presented show strong gold alteration developed in hematized and fractured porphyry syenite intrusions. This particular type of rock is closely related to the gold system. This is reflected by a gold signal varying between 0.01 and 0.1 g/t developed over drill lengths varying between 5 meters and 150 meters.
The company is pursuing the program with additional short holes planned to test some of the targets identified at Clergy intrusion of syenite over about four square kilometers. These overburden targets were identified using a combination of soil geochemistry and IP ground survey supported by structural mapping.
“We are excited about the first result obtained in hole CDR-22-14. With less than 2,000 meters drilled so far on the property, we can say that we have found promising indicators of the proximity of a possible large gold system.
The resulting ordered mineralized structure is near the surface and its association with strong gold anomalies is rarely seen in barely worked new gold properties.
Our objective is to discover how close we are to a promising mineralized zone associated with a disseminated-type gold system that may have similarities to known deposits and mines in the region. We are at the very beginning of the story of the Syénite Condor project, which started in 2021. Goldflare has everything in place to make big strides to test the target and highlight the gold potential.” Ghislain Morinpresident and chief executive officer.
Results
The drilling program was originally intended to test the lateral extension of the Condor-1 gold showing at a distance of approximately seven hundred meters (700m) using one hundred and fifty meter holes drilled at an average distance of fifty (50 m) meters. Holes CDR-22-13 to CDR-22-15 are closely related to the display site of Condor-1. They are distributed within 250 meters of the original discovery, drilled in a checkerboard pattern. Holes CDR-22-17 and CDR-22-18 were drilled in a geophysical anomaly located approximately seven hundred (700m) meters from the first holes.
|
Coord-UTMnad83,Z17 |
DDH_No |
from: |
To |
Length (m) |
Au_g/t |
|
659295E-5364945N |
CDR-22-13 |
No value >0.2 g/t |
|||
|
659243E-5365006N |
CDR-22-14 |
19.1 |
20 |
4.9 |
0.97 |
|
incl. |
20 |
23 |
3 |
1.48 |
|
|
37.6 |
43.5 |
5.9 |
0.7 |
||
|
incl. |
41.2 |
42.2 |
1 |
2.84 |
|
|
659235E-5365084N |
CDR-22-15* |
109 |
112 |
3 |
0.23 |
|
135 |
139.8 |
4.8 |
0.23 |
||
|
659243E-5365006N |
CDR-22-16 |
No value >0.2 g/t |
|||
|
658885E-5365337N |
CDR-22-17 |
11.1 |
12.6 |
1.5 |
0.29 |
|
658861E-5365361N |
CDR-22-18 |
134.1 |
135 |
0.9 |
0.32 |
Note: Intervals are presented as drill length. True thickness is estimated to be in the 70-80% range based on preliminary interpretation.
* Results covering IAMgold’s claim limit.
The identified mineralization is located at the eastern end of the eastern Cléricy intrusion, located in a network of highly altered porphyry syenite dikes that cut across the main intrusive mass. This favorable context can be traced for more than 2 km by strong magnetic contrast. The signature of the gold system identified so far in the Condor-1 display continuity is approximately 200 meters. Interpretation and modeling are ongoing to determine the best possible direction for gold enrichment.
QAQC
The position of the boreholes was taken using a portable GPS, which implies an uncertainty of several meters. The direction of the holes was established using a Reflex EZ-TRAC TM tool. Cores are cut in half at an on-site facility. Sample bags are delivered from the field to Laboratoire Expert inc. in Noranda Ruin, are then analyzed using a standard fire test with lead collection on a 30-gram pulp fraction. Gold is assayed by atomic absorption spectrometry (AAS) for results up to 3 g/t. Results above 3 g/t are reanalyzed by gravimetry. Quality control includes standard samples, blanks, duplicate preparations, and duplicate samples taken at regular intervals.
About the Syenite Condor project
The Condor project is located approximately 35 km northeast of Noranda Ruin, Quebec, on the eastern extension of the Porcupine-Destor Break. The property is part of a 2,910 hectare land package adjacent to other claims where Goldflare retains interests. The project shares borders with Iamgold, which is currently in the pre-development phase of the Fayolle project.
A surface gold discovery occurred in 2021 during the first prospecting program. The following months saw the completion of a variety of survey work such as the removal of Condor-1 followed by a soil geochemical survey doubled by OreVision R ground survey. The first drilling program of twelve short holes succeeded in identifying a 100m gold-bearing structure (Goldflare Exploration, March 3, 2022).
The technical information contained in this press release has been reviewed by Martin Demers, P.Geo. (ogq no. 770), a consultant for Goldflare Exploration and a qualified person under National Instrument 43-101 regarding the disclosure of mineral projects.
Neither the TSX Venture Exchange nor its regulatory service provider (as defined in the TSXV Exchange Rules) is responsible for the accuracy or truthfulness of this announcement.
SOURCE Goldflare Exploration Inc.
See original content: http://www.newswire.ca/en/releases/archive/January2023/31/c0384.html