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Stelmine identified visible gold in three drill holes for the Courcy project, The Canadian Business Journal.

QUEBEC CITY, SEPTEMBER 15, 2022 (GLOBE NEWSWIRE) — Stelmine Canada (“Stelmine”) (TSXV: STH) is pleased to announce the results of its 14-hole, 2,237 m inaugural drilling program in Zones 1 and 4 at its wholly-owned Courcy property in the Caniapiscau mining district in northeastern Quebec. Zone 1 results show the presence of visible gold (VG) in the three holes, STHCOU-001, 002, 003 section of 2.86 g/t Au at 10.0 m. 2.79 g/t Au at 4.5 m When 2.28 g/t Au at 2.20 m, respectively (Table 1 and Figure 1). A drilling campaign extended this zone of shallow slope and low depth to the east by 300 m.

Stelmine President and CEO Isabelle Proulx asserts: 3.”

Drilling logs and analytical data show association of gold with pyrite+pyrrhotite-rich garnet amphibolites and quartz veins associated with the 21 km-long major flexed Couteau thrust fault (Fig. 1).Assay from hole STHCOU-004, 006, 007 When 009 (original: 2.11 g/t at 2.00 m, 1.64 g/t Au at 1.7 m When 0.79 g/t Au at 7.5 m) indicating the continuation of mineralization along the fault 400 meters to the south. The Southern Zone (Zone 4) was also targeted by two exploration drill holes, but was of little gold value. However, past exploration campaigns in Zone 4 have suggested the potential for gold mineralization based on high gold values ​​associated with quartz veins and tightly folded structures at the interface of metasedimentary and volcanic rocks. gender was emphasized. Zone 4 will be re-explored to find new gold potential.

Curcy is a vast site of over 85km2The first drilling program only explored an area of ​​just 1 km.2 Section of the Eastern Sector. Exploration campaigns conducted from 2017 to 2020 highlighted several other gold targets, notably a 1 km long structure along the Couteau Fault 7 km southwest of Zone 1, and a strong terrestrial Physical anomalies and significant gold and arsenic values ​​were revealed (zone 3). At least six other targets have been identified, with geophysical anomaly associations and sampling results across the property. We plan to survey these potential sites using specific high-resolution geophysical techniques such as IP/resistivity and drone MAG surveys. This leads to the second stage of excavation.

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Table 1. Significant gold crossings generated by the first drilling campaign at Courcy in 2021-2022.

DDH_No. Gold (g/t) from (m) up to (m) Length (m)* DDH_No. Gold (g/t) from (m) up to (m) Length (m)*
Zone 1
STH21-COU001 2.86 24.4 34.4 10.0 STH21-COU007 0.79 4.0 11.5 7.5
tax included 5.28 26.8 31.2 4.4 tax included 1.25 6.0 8.5 2.5
STH21-COU002 2.79 21.0 25.5 4.5 1.27 13.5 15.5 2.0
tax included 12.29 21.0 22.0 1.0
1.23 24.5 25.5 1.0
1.53 40.5 44.5 4.0
2.3 43.5 43.9 0.4
0.55 52.5 61.0 8.5
STH21-COU010 2.11 47.1 49.1 2.0
STH21-COU003 2.28 22.4 24.5 2.2
2.06 74.0 75.5 1.5
1.06 71.3 71.8 0.5
2.2 113.2 114.4 1.2
0.33 85.5 87.0 9.9
tax included 1.12 94.4 95.4 1.0 STH21-COU011 1.58 26.0 29.0 3.0
STH21-COU004 1.64 33.5 35.2 1.7 STH21-COU012 12.15 139.0 140.2 1.2
STH21-COU006 0.3 14.0 18.5 4.6 1.02 162.5 164.0 1.5
0.8 27.5 29.5 2.0 0.4 104.0 107.7 3.7
zone 4
*Apparent width.true width unknown STH21-COU014 0.78 52.5 54.0 2.0

qualified person

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 in this document under the National Instrument 43-101 standard.

QA/QC protocol

Stelmine has implemented a rigorous QA/QC protocol when processing all rock samples collected from the Courcy property. The protocol included insertion and monitoring of appropriate reference substances, in this case certified gold standards at high and low concentrations, blanks, and replicates to verify the accuracy and precision of the assay results. All rock samples collected were placed in heavy-duty plastic bags, tagged, and sealed on site under the supervision of geologists-in-training. The sample bags were then placed in rice bags, stored securely in field tents, and then shipped to Wabush City by floatplane. Transportation to the Actlabs laboratory in Ancaster, Ontario was by truck from a reputable shipping company. Gold was analyzed by combustion assay (1A2_ICP_50 g) or INAA+ICP_OES (1H) method. Other trace element concentrations were obtained by the 1H method.

About Stelmine in Canada

Stelmine is a junior mining and exploration company developing a new gold district (Caniapiscau) east of James Bay in the unexplored eastern part of the Opinaca metamorphic sedimentary basin, whose geological conditions are similar to the Eleonore mine. Stelmine has his 100% ownership of 1,277 claims or 655 km² in this area of ​​northern Quebec, highlighted by the Courcy and Mercator projects.

Forward-Looking Statements

Certain information in this press release may contain forward-looking statements. This includes statements regarding the expected closing of the offering and expected use of proceeds, acquisition and expansion plans, availability of quality acquisition opportunities and company growth. This information is subject to material risks and uncertainties that are difficult to predict, including current expectations and assumptions, including assumptions related to the offering and obtaining all necessary approvals given general economic and market conditions. ) It is based on. Actual results may differ materially from those implied by forward-looking statements. Risks that could cause results to differ from those set forth in the forward-looking statements in this release include risks related to our ability to complete the offering on the terms described above. We undertake no obligation to update any forward-looking statements, except as required by securities laws applicable to us, or to update any reason why our actual results may differ from those reflected in the forward-looking statements. shall have no obligations. Additional information identifying the risks and uncertainties is contained in the company’s filings with the Canadian securities regulators. This document is available at www.sedar.com.


Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

For more information, please contact:

Isabelle Proulx, President and CEO, Sterumine Investor Relations:
Phone: 581-998-1222 Market Smart Communications Co., Ltd.
[email protected] Adrian Sydenham
Toll Free: 1-877-261-4466
[email protected]

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Stelmine identified visible gold in three drill holes for the Courcy project, The Canadian Business Journal.

Source link Stelmine identified visible gold in three drill holes for the Courcy project, The Canadian Business Journal.

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