Latest news with #assay
Associated Press
5 days ago
- Business
- Associated Press
Goliath Intersects 8.31 g/t Au Over 23 Meters, Including 15.69 g/t Au Over 11 Meters, Including 37.45 g/t Au Or 1.20 Oz/T Over 4 Meters In Third Distinct Rock Package Within The High-Grade Gold Bonanza Zone At Surebet, Golddigger Property, Golden Triangle, B.C.
TORONTO, July 07, 2025 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the 'Company' or 'Goliath') is very pleased to announce positive assay results from the re-logging and sampling of drill hole GD-24-280 which returned in an intercept of 8.31 g/t Au over 23.00 meters, including 15.69 g/t Au over 11 meters, including 37.45 g/t Au (or 1.20 oz/T) over 4 meters in a third rock package within the Bonanza Zone. It is characterized by a broad interval of strongly calc-silicate altered breccia with multiple occurrences of visible gold seen with a naked eye that had not been sampled before and remains wide open at Surebet on the 100% controlled Golddigger Property (the 'Property'), Golden Triangle, British Columbia. These assays reflect gold only (AuEq value in interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received). GD-24-280 is interpreted to be a ~500 meter step-out to the east from other high-grade drill holes previously reported from the Bonanza Zone, that include: The Bonanza Zone is also host to drill hole GD-24-260 that assayed 4.52 g/t AuEq (1.11 oz/T AuEq) over 39.00 meters, including 132.93 g/t AuEq (4.27 oz/T AuEq) over 10.00 meters (see news January 13, 2025). The discovery of a new style of high-grade gold at the Bonanza Zone consisting of strongly calc-silicate altered breccia at the Surebet Discovery clearly demonstrates the additional discovery potential remaining for expansion. High-grade gold mineralization has been confirmed in three distinct rock packages at the Surebet Discovery, which include: gently-dipping gold-rich mineralized stacked veins; gold-rich intermediate to felsic Eocene-aged RIRG dykes that crosscut the veins; and the newly discovered broad zones of calc-silicate altered breccia. All three rock packages contain substantial amounts of VG-NE and remain wide open, which strongly indicates the presence of a Motherlode magmatic causative source at depth responsible for the widespread high-grade gold mineralization at the Surebet Discovery. Dr. Quinton Hennigh, Geologic & Technical Advisor to Crescat Capital, a strategic investor in Goliath, states: 'It is remarkable to watch the Surebet gold system reveal its secrets. Five years ago, the initial target was the low-angle, thick Surebet gold-quartz-sulfide lode. After a couple seasons of drilling, other similar flat gold-quartz-sulfide lodes were discovered stacked beneath Surebet including the remarkable high-grade Bonanza gold-quartz-sulfide lode. In just the past year, recognition of a swarm of near vertical reduced intrusive dikes has added a new twist to the story because these appear to host significant volumes of stockwork gold-quartz-sulfide mineralization, and importantly, point to a direct connection of the Surebet system to an intrusive gold source. Today, the revelation that significant high-grade gold mineralization is hosted by calc-silicate rocks that form the thermal aureole around a deep intrusion adds fuel to that fire. It will be interesting to see where this natural progression of discovery leads us.' Mr. Roger Rosmus, Founder & CEO of Goliath states: 'We are delighted with the exceptional assay results from drill hole GD-24-280 within a newly identified calc-silicate altered high-grade gold breccia, with visible gold to the naked eye. This gives us a new discovery of high-grade gold, this time in a third distinct rock package at the Surebet high-grade gold discovery. We have high-grade gold in stacked gently-dipping veins stretching over 1.2 kilometers, vertical RIRG dykes that crosscut the veins which we are now referring to Goldilocks zones as they have high-grade gold in two temperature regimes. There are multiple locations where the gently-dipping veins and vertical RIRG dykes crosscut, which gives us the potential to have several Goldilocks zones. Now, we can add a new discovery of high-grade gold in a third distinct rock package at Surebet. Another important target for our 2025 drilling campaign has emerged from the detailed geological study done at the Colorado School of Mines, which is a magmatic gold source we call Motherlode, responsible for the gold mineralization in the three distinct rock packages. To assist in our targeting of the magmatic source, we are using a combination of the depth extent of the RIRG dykes and our past geophysical survey. This clearly underscores the immense and untapped additional discovery potential at the Surebet Discovery. Our geological team has hit the ground running in our 2025 drilling campaign, with the goal of drilling 60,000 meters. Currently, we have eight drill rigs working and one more will be arriving shortly. We have plenty of people to thank for the success at the Surebet high-grade gold discovery, including our shareholders, our geological team, the excellent research by the Colorado School of Mines, our drillers and others. We have never come into a drilling season with as much geological data in hand which puts us in a great position for our best season of drilling ever at Surebet. ' Recent re-logging of core from holes drilled between 2021 and 2024 has provided an interval in drill hole GD-22-64, consisting of a RIRG dyke containing visible gold to the naked eye. This dyke is believed to be directly related to the Motherlode magmatic source which assayed 6.31 g/t AuEq over 14.35 meters, including 11.36 g/t AuEq over 7.85 meters (see news release dated June 23, 2025). Additionally, re-logging identified visible gold to the naked eye in several other drill holes (assays pending) associated with RIRG dykes, calc-silicate altered breccias, and known gently-dipping stacked veins. Drill hole GD-24-277 confirmed gold visible to the naked eye within a newly identified calc-silicate altered breccia, within 36 meters of mineralization that is now awaiting assay results. Re-logging has identified gold visible to the naked eye in other key zones, including multiple occurrences in GD-22-102 within the Bonanza Zone and Golden Gate Zones, often associated with pyrrhotite and sphalerite in calc-silicate veins. Additional single occurrences of visible gold to the naked eye have been identified and sampled in GD-24-254 (Bonanza and Golden Gate Zones) and GD-24-267 (Bonanza Zone). Holes GD-21-09 and GD-24-244 also yielded visible gold to the naked eye within near vertical RIRG dykes, strikingly similar to an interval in GD-22-58 which previously assayed up to 12.03 g/t AuEq over 10 meters (see news release March 13, 2025), further supporting the potential for extensive high-grade gold mineralization linked to the causative intrusion (Motherlode Magmatic Source). The balance of the newly sampled intervals from the early season re-logging initiative are currently pending assay results, which are expected to further define the significant potential of these discoveries. Based on these compelling results, Goliath has significantly increased its 2025 planned drill campaign from 40,000 meters to 60,000 meters. The 2025 planned drill campaign is designed to be a systematic approach, focused entirely on Surebet to expand the geometry and extent of this discovery both laterally and to depth. The comprehensive drill plan will consist of testing for the Motherlode magmatic source of high-grade gold mineralization that could significantly increase the overall size of the Surebet high-grade gold discovery; evaluating an additional 13 potential Eocene-aged dykes observed on surface that have yet to be drill tested for RIRG mineralization; executing infill drilling with the goal of significantly increasing pierce point density in all known stacked veins, with a particular focus on the highest-grade areas from the Bonanza Zone and Surebet Zone intersection domains; testing zones where the RIRG dykes and gently dipping veins cross cut which are being called Goldilocks Zones as they are key locations where there are two styles of gold mineralization enriching the zones; expanding the known mineralized veins laterally and to depth; and expand on newly discovered high-grade gold in strongly altered calc-silicate breccia. All three distinct rock packages remain wide open, where they currently remain open, offering substantial exploration upside. Surebet Discovery Highlights About Golddigger Property The Golddigger Property is 100% controlled and covers an area of 91,518 hectares in a highly prospective geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area, in close proximity to the Red Line, has hosted some of Canada's greatest gold mines including Eskay Creek, Premier and Snip. Other significant and well-known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization. The Surebet discovery has predictable continuity and excellent metallurgy with gold recoveries from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present such as mercury or arsenic (see news release dated March 1, 2023). The Property is in an excellent location in close proximity to the communities of Alice Arm and Kitsault where there is a permitted mill site on private property. It is situated on tide water with direct barge access to Prince Rupert (190 kilometers via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometers from Terrace, 300 kilometers from Prince Rupert) and has a barge landing, dock, and infrastructure capable of housing at least 300 people, including high-tension power. Additional infrastructure in the area includes the Dolly Varden Silver Mine Road (only 7 kilometers to the East of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometers to the south of the Surebet discovery) and high-tension power (25 kilometers to the east of Surebet discovery). The city of Terrace (population 16,000) provides access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while the town of Prince Rupert (population 12,000) is located on the West Coast of British Columbia and houses an international container seaport also with direct access to railway and an airport. About CASERM (Center to Advance the Science of Exploration to Reclamation in Mining) Goliath Resources is a paying member and active supporter of the Center to Advance the Science of Exploration to Reclamation in Mining (CASERM), which is one of the world's largest research centers in the mining sector. CASERM is a collaborative research venture between Colorado School of Mines and Virginia Tech that is supported by a consortium of mining and exploration companies, analytical instrumentation and software companies, and federal agencies aiming to transform the way geoscience data is acquired and used across the mining value chain. The center forms part of the I-UCRC program of the National Science Foundation. Research focuses on the integration of diverse geoscience data to improve decision making across the mine life cycle, beginning with the exploration for subsurface resources continuing through mine operation as well as closure and environmental remediation. Over the past three years, Goliath Resources' membership in CASERM has allowed a high level of research to be performed on the Surebet Discovery. Qualified Person Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release. Mr. Turna is an Independent Director of the Company. About Goliath Resources Limited Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of Northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath's key strategic cornerstone shareholders include Crescat Capital, a Global Commodity Group (Singapore), McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Mr. Rob McEwen, Mr. Eric Sprott and Mr. Larry Childress. For more information please contact: Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887 [email protected] Disclaimer The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled. Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2024 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration is sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half: one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. The bagged samples are then weighed and secured with a zip tie. Certified reference materials (CRMs), blanks and duplicates are added in the sample stream at a rate of 10%. To ensure analytical anonymity, CRM identification labels are removed prior to submission to the laboratory. Additional out-of-sequence blanks are introduced immediately following core samples that contain visible gold or high-grade sulphide mineralization. Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples are then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, certified reference materials, and duplicate samples are inserted regularly into the sample sequence at a rate of 10%. All samples are transported in rice bags sealed with numbered security tags. The rice bags are transported from the core shacks to the MSALABS facilities in Terrace, BC. MSALABS is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. The core samples undergo preparation via drying, crushing to ~70% of the material passing a 2 mm sieve and riffle splitting. The sample splits are weighed and transferred into three plastic jars, each containing between 300 g and 500 g of crushed sample material. A 250 g split is pulverized to ensure at least 85% of the material passes through a 75 µm sieve. The crushed samples are transported to the MSALABS PhotonAssayTM facility in Prince George, where gold concentrations are quantified via photon assay analysis (method CPA-Au1). Samples that result in gold concentrations ≥5 ppm are analyzed to extinction. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, inducing the emission of secondary gamma rays, which are measured to quantify gold concentrations. The assays from all jars are combined on a weight-averaged basis. Multielement analyses are carried at the MSALABS facilities in Surrey, BC, where 250 g of pulverized splits are analyzed via ICF6xx and IMS-230 methods. The IMS-230 method uses 4-acid digestion (a combination of hydrochloric, nitric, perchloric and hydrofluoric acids) followed by inductively coupled plasma emission spectrometry to quantify concentrations of 48 elements. Samples with over-limit results for Ag, Cu, Pb and Zn undergo ore-grade analysis via the ICF-6xx method (where 'xx' denotes the target metal). This method employs 4-acid digestion followed by inductively coupled plasma emission spectrometry. Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and Gold Equivalent (AuEq) metal values are calculated using: Au 2797.16 USD/oz, Ag 31.28 USD/oz, Cu 4.25 USD/lbs, Pb 1955.58 USD/ton and Zn 2750.50 USD/ton on January 31st, 2025. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath's project is located such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath's Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words 'could', 'intend', 'expect', 'believe', 'will', 'projected', 'estimated' and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of the Company to complete financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above. The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.
Yahoo
30-06-2025
- Business
- Yahoo
Benz Announces Exceptional High-Grade Gold Intercepts at Glenburgh
HIGHLIGHTS: Thick high-grade gold at the Zone 126 trend confirming vertical and grade continuity. Highlights include: 25GLR022: 39m at 5.1g/t gold from 319m - one of the thickest high grade intercepts to date at the Project 25GLR027: 10m at 12.9g/t gold from 299m - broadens the width and strike of the original high-grade lens at depth 25GLR027: An additional 2m at 12g/t gold from 350m 25GLR026: 8m at 5.5g/t gold from 204m 25GLR025: 5m at 4.6g/t gold from 197m Both lenses remain open at depth with strike extension testing underway True widths supported with opposite direction drilling: Results from scissor drilling indicate previous intercepts are likely close to true width, providing strong support for future resource estimation and mining studies. Ongoing structural interpretation and further drilling will continue to refine this understanding. Encouraging hit between Zone 126 and Zone 102: The first hole targeting the gap between Zone 126 and Zone 102 has returned a broad, mineralised intercept with an emerging high-grade core. 215m at 0.25g/t gold from 254m including 4m at 2.6g/t gold Step out drilling to test along strike of Zone 126 trend underway aimed at identifying further high-grade lenses within this fertile trend. Vancouver, British Columbia--(Newsfile Corp. - June 29, 2025) - Benz Mining Corp. (ASX: BNZ) (TSXV: BZ) (Benz or the Company) is pleased to report exceptional assay results from recent RC drilling at the Zone 126 trend within the Glenburgh Gold Project. The results mark a major step forward in understanding and expanding the high-grade gold system, with several key technical and strategic milestones achieved. Figure 1 Long section view looking of Zone 126 trend. Proposed drilling demarcated by black crosses. Current release results in red text. Previous results released on 6 November 2024 and 3 April 2025. To view an enhanced version of this graphic, please visit: Drilling to date has been strategically focused on extending the two known high-grade lenses at the Zone 126 trend, laying the groundwork for Benz's maiden Mineral Resource Estimate at Glenburgh. The results received so far are highly encouraging, demonstrating strong continuity of the high-grade lenses both along strike and at depth. With confidence building in the geological model, the next phase of drilling will step out to the east to test high-priority down-plunge targets, aimed at unlocking further resource growth along this fertile trend. Benz CEO, Mark Lynch-Staunton, commented: "These are fantastic results for Benz. To deliver thick, high-grade gold at depth across both known lenses at Zone 126 - and to gather strong indications that this mineralisation is close to true width - is a huge step forward. It gives us real confidence in the scale, consistency, and continuity of this system. We've long believed Glenburgh has the potential to host a significant gold system, and these latest results strongly support that view. We're just getting started - with step-out drilling now underway and new zones emerging between Zone 126 and Zone 102, we are well positioned to continue unlocking a much larger mineralised system at Glenburgh." Benz is undertaking a fully funded 30,000m drill program at its Glenburgh Gold Project, following the successful completion of a A$13.5 million capital raise. Since acquiring the project in February 2025, the Company has launched extensive work programs to better understand the geology and structural controls of this underexplored, highly metamorphosed gold system. A dual-track growth strategy is now being executed - advancing the large-scale open pit potential at Icon-Apollo alongside high-grade underground opportunities at the adjacent Zone 126 lens - offering multiple near-term development pathways, all on granted mining leases. Two rigs are drilling at full capacity to deliver this strategy: one focused on growing the bulk-tonnage gold system at Icon-Apollo, and the other targeting high-grade extensions at Zone 126, where previous results have included: 11m at 19.9g/t gold from 274m (GBZ126_010); 5m at 10.2g/t gold from 222m (GBZ126_001); and 4m at 12.2g/t gold from 319m (GBZ126_009). Figure 2 Glenburgh Project Geology overview. To view an enhanced version of this graphic, please visit: This announcement has been approved for release by the Board of Benz Mining Corp. For more information please contact:Mark Lynch-StauntonChief Executive OfficerBenz Mining Corp.E: mstaunton@ +61 8 6143 6702 About Benz Mining Corp. Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) is a pure-play gold exploration company dual-listed on the TSX Venture Exchange and Australian Securities Exchange. The Company owns the Eastmain Gold Project in Quebec, and the recently acquired Glenburgh and Mt Egerton Gold Projects in Western Australia. Benz's key point of difference lies in its team's deep geological expertise and the use of advanced geological techniques, particularly in high-metamorphic terrane exploration. The Company aims to rapidly grow its global resource base and solidify its position as a leading gold explorer across two of the world's most prolific gold regions. The Glenburgh Gold Project features a Historical (for the purposes of NI 43-101) Mineral Resource Estimate of 16.3Mt at 1.0 g/t Au (510,100 ounces of contained gold)1. A technical report prepared under NI 43-101- Standards of Disclosure for Mineral Projects (NI 43-101) titled "NI 43-101 Technical Report on the Glenburgh - Egerton Gold Project, Western Australia" with an effective date of 16 December 2024 has been filed with the TSX Venture Exchange and is available under the Company's profile at The Eastmain Gold Project in Quebec hosts a Mineral Resource Estimate dated effective May 24, 2023 and prepared in accordance with NI 43-101 and JORC (2012) of 1,005,000 ounces at 6.1g/t Au2, also available under the Company's profile at showcasing Benz's focus on high-grade, high-margin assets in premier mining jurisdictions. To view an enhanced version of this graphic, please visit: For more information, please visit: Qualified Person's Statement (NI 43-101) The disclosure of scientific or technical information in this news release is based on, and fairly represents, information compiled by Mr Mark Lynch-Staunton, who is a Qualified Person as defined by NI 43-101 and a Member of Australian Institute of Geoscientists (AIG) (Membership ID: 6918). Mr Lynch-Staunton has reviewed and approved the technical information in this news release. Mr Lynch-Staunton owns securities in Benz Mining Corp. Historical Mineral Resource Estimates All mineral resource estimates in respect of the Glenburgh Gold Project in this news release are considered to be "historical estimates" as defined under NI 43-101. These historical estimates are not considered to be current and are not being treated as such. These estimates have been prepared in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC Code) and have not been reported in accordance with NI 43-101. A qualified person (as defined in NI 43-101) (Qualified Person) has not done sufficient work to classify the historical estimates as current mineral resources. A Qualified Person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical data in order to verify the historical estimates as current mineral resources. Forward-Looking Statements Statements contained in this news release that are not historical facts are "forward-looking information" or "forward looking statements" (collectively Forward-Looking Information) as such term is used in applicable Canadian securities laws. Forward-Looking Information includes, but is not limited to, disclosure regarding the exploration potential of the Glenburgh Gold Project and the anticipated benefits thereof, planned exploration and related activities on the Glenburgh Gold Project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipates", "complete", "become", "expects", "next steps", "commitments" and "potential", in relation to certain actions, events or results "could", "may", "will", "would", be achieved. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the accuracy and reliability of the Company's exploration thesis in respect of additional drilling at the Glenburgh Gold Project will be consistent with the Company's expectations based on available information; the Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Company's Projects (including Glenburgh and Mt Egerton Gold Projects) can be achieved; and the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the early stage nature of the Company's exploration of the Glenburgh Gold Project, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at and Accordingly, readers should not place undue reliance on Forward-Looking Information. The Forward-looking information in this news release is based on plans, expectations, and estimates of management at the date the information is provided and the Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. NEITHER THE 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 ACCURACY OR ADEQUACY OF THIS RELEASE. Appendix 1: Collar Table. Coordinates system: GDA94/MGA Zone 50 Hole number Easting Northing Elevation Max. depth (m) Dip Azimuth 25GLR_027 414710.8 7193499 303.034 400 60 330 25GLR_026 414722.0 7193567 303.04 308 65 311 25GLR_025 414722.0 7193567 304 270 61 328 25GLR_024 414206.5 7193695 300.446 480 60 145 25GLR_022 414620.9 7193801 301.817 450 60 135 Appendix 2: Significant Intercepts Tables. High Grade Intercepts: A nominal 1 g/t Au lower cut off has been applied to results, with up to 3m internal dilution included unless otherwise stated. Hole ID From To Au ppm Interval 25GLR_027 282 285 1.9 3 25GLR_027 293 295 2.1 2 25GLR_027 299 309 12.9 10 25GLR_027 350 352 12.0 2 25GLR_027 366 369 1.8 3 25GLR_026 197 200 2.7 3 25GLR_026 204 212 5.4 8 25GLR_026 254 256 1.3 2 25GLR_025 159 165 1.3 6 25GLR_025 197 202 4.6 5 25GLR_024 266 270 1.1 4 25GLR_024 359 363 2.6 4 25GLR_022 319 324 9.5 5 25GLR_022 334 342 6.6 8 25GLR_022 348 358 9.6 10 Bulk potential intercepts reported with a nominal 0.2 g/t Au lower cut off with no maximum internal dilution length applied. Included high grade intervals are calculated using a 1g/t Au lower cut off with no maximum internal dilution length applied Table 3 Hole ID From To Au ppm Interval Comment 25GLR_027 277 393 1.7 116 25GLR_026 197 306 0.7 109 25GLR_025 147 214 0.7 67 25GLR_024 254 469 0.25 215 25GLR_022 315 387 2.9 72 Including 39m @ 5.1g/t from 319m Appendix 3: JORC TablesJORC Code, 2012 Edition - Table 1 report template Section 1 Sampling Techniques and Data(Criteria in this section apply to all succeeding sections) Criteria Commentary Sampling techniques Results are part of BNZ's RC drilling campaign at the recently acquired Glenburgh Gold Project situated ~285 km east of Carnarvon via Gascoyne Junction, WA. RC drilling samples were collected as 1m single samples. Each sample collected represents each one (1) metre drilled collected from the rig-mounted cone splitter into individual calico bags (~3kg) and stored in labelled sequential polyweave bags for long-term storage. The rig mounted cyclone/cone splitter was levelled at the start of each hole to aid an even fall of the sample through the cyclone into the cone splitter. RC drilling sample submissions include the use of certified standards (CRMs), and field duplicates were added to the submitted sample sequence to test laboratory equipment calibrations. Standards selected are matched to the analytical method of photon assaying at ALS labs in Perth (~500g units). No composites were taken. Based on statistical analysis of these results, there is no evidence to suggest the samples are not representative. Drilling techniques The RC drill rig was a Schramm C685 Rig type with the capability to reach >400m depths with a rig-mounted cyclone/cone splitter using a face sample hammer bit of 5 1⁄2 - 6" size. The booster was used to apply air to keep drill holes dry and reach deeper depths. Drill sample recovery RC sample recovery is visually assessed and recorded where significantly reduced. Negligible sample loss has been recorded. RC samples were visually checked for recovery, moisture and contamination. A cyclone and cone splitter were used to provide a uniform sample, and these were routinely cleaned. RC Sample recoveries are generally high. No significant sample loss has been recorded. Logging RC chip samples have been geologically logged on a per 1 metre process recording lithology, mineralisation, veining, alteration, and weathering. Geological logging is considered appropriate for this style of deposit (metamorphosed orogenic gold). The entire length of all holes has been geologically logged. RC drill logging was completed by Galt Mining Solutions staff and data entered into BNZ's MXDeposit digital data collection platform provided by Expedio. All drill chips were collected into 20 compartment-trays for future reference and stored at Galt's warehouse in West Leederville at the time of reporting. Sub-sampling techniques and sample preparation RC chips were cone split at the rig. Samples were generally dry. A sample size of between 3 and 5 kg was collected. This size is considered appropriate, and representative of the material being sampled given the width and continuity of the intersections, and the grain size of the material being collected. For the 1 metre samples, certified analytical standards (appropriate for photon assaying) and field duplicates were inserted at appropriate intervals at a rate equal to 1 in 20 and sent for analysis with the samples. Sample preparation was undertaken at ALS Laboratory - Perth. Gold analysis utilised the photon assaying methodology where original samples are crushed to 2mm with a sub-set 500g separated for non-destructive analysis. Any sample reporting as having elevated > 1µSv readings during the preparation for photon assaying at ALS labs were flagged and were submitted for fire assay (Au-AA26) methodology at ALS labs in Perth as a quantifying check against the Photon assays. Quality of assay data and laboratory tests Preliminary pXRF and Labspec ASD analysis was conducted by Galt Mining Solutions personnel utilising Geotek's Boxscan automated system. The scanning of sieved RC drilling fines sample material utilised an Olympus Vanta M Series portable XRF in Geochem mode (3 beam) and a 20-second read time for each beam (Instrument_Serial = 840951). The ASD data reader on Boxscan has a 3 nm VNIR, 6 nm SWIR spectral resolution of the LabSpec 4 Hi-Res analytical instrument (Electronics serial number: 28191). The pXRF and ASD are incorporated into Geotek's Boxscan machine to facilitate an automated data collection process. This includes periodic calibration and QAQC scans on Geotek-supplied pucks and colour strips. The QAQC scans are verified and checked on Boxscan's internal program datasheet against expected results to ensure the analysers are conforming to Boxscan's expected operating parameters. A review of the pXRF and ASD sample results provided an acceptable level of analysis and the data is appropriate for reporting the geochemistry results in the context of its use for screening areas for indications of elevations in concentrations with elements of interest. pXRF and ASD results should never be considered a proxy or substitute for laboratory analysis, which is required to determine robust and accurate potential for mineralisation and associated elements. The reporting of pXRF and ASD results should not be described as an "assay" result, as these are not of the same level of accuracy or precision as that obtained from a certified laboratory workflow. The use of "preliminary indicative field data" is a more appropriate term when referring to pXRF and ASD results. The pXRF data is exploratory in nature and is used predominantly as an internal workflow to assist in target prioritisation through an early phase of exploration investigation. No previous comparisons of pXRF and ASD data with laboratory data at the project have been undertaken to date. The analysis involved direct point counting on the raw surfaces of the supplied drill fines. The fines are transferred from geochem packets to purpose-made scanning pucks, with the analysis taken from the middle of these pucks. The sample material was dry and collected and analysed in ambient temperatures within the processing warehouse. Monitoring of workstation area and apparatus temperatures occur during the shift with cooling actions being implemented when required. This provides only semi-quantitative information and is reported as raw data without significant corrections, which is best interpreted as an abundant/present/absent classification for most elements. This information provides useful trend analyses at an exploration target scale. Verification of sampling and assaying Significant drill intersections are checked by the supervising personnel. The intersections are compared to recorded geology and neighbouring data and reviewed in Leapfrog and QGIS software. No twinned holes have been drilled to date by Benz Mining, but, planned holes have tested the interpreted mineralised trends, verifying the geometry of the mineralised targets. All logs were validated by the Project Geologist prior to being sent to the Database Administrator for import No adjustments have been made to assay data apart from values below the detection limit which are assigned a value of half the detection limit (positive number) Location of data points Hole collar coordinates including RLs have been located by handheld GPS in the field during initial drill site preparation. Actual hole collars were collected by a DGPS system at the Glenburgh Gold Project. The grid system used for the location of all drill holes is GDA94_MGA _Zone 50s. Planned hole coordinates and final GPS coordinates are compared in QGIS and Leapfrog project files to ensure all targets have been tested as intended. The drill string path is monitored as drilling progresses using downhole Axis Champ Gyro tool and compared against the planned drill path, adjustment to the drilling technique is requested as required to ensure the intended path is followed. Readings were recorded at 30m intervals from surface to end of hole after Benz reviewed single shot verses EOH continuous surveying of the Axis Champ Gyro tool and noted >3 degrees variance in azimuth with hole depth. The single shots produce less variability and are used for hole trace reporting in the database. Historical drill hole surveys and methods will be reviewed in preparation for any updates to MRE in the future. Data spacing and distribution BNZ's Glenburgh RC drilling has been designed as a test on mineralisation extension at a planned spacing of 60m between pierce points on the projected mineralised feature. Holes were generally angled ~ -65 dip towards ~ 145 degrees GDA94_MGA _Zone 51 Grid orientation. Fifteen (15) holes were drilled into Zone 126 prospect on a rough grid pattern to obtain adequate spacing for testing mineralisation continuity and geological host features. The mineralised domains established for pre-BNZ MREs have sufficient continuity in both geology and grade to be considered appropriate for the Mineral Resource and Ore Reserve estimation procedures and classification applied under the 2012 JORC Code. Ongoing drilling will be sufficiently spaced for a reinterpretation based on BNZ's structural model. No sample compositing of material from drilling has been applied during this drilling campaign. Orientation of data in relation to geological structure Drilling has primarily been undertaken perpendicular to the interpreted mineralised structures as stated above. No orientation-based sampling bias has been identified - observed intercepts to date indicate the interpreted geology hosting mineralisation is robust. Sample security All samples were prepared in the field by Galt staff and delivered by contracted couriers from the field site to the ALS laboratory in Perth directly. Individual pre-numbered calco sample bags are placed in polywoven plastic bags (5 per bag) secured at the top with a cable tie. These bags are annotated with the company name and sample numbers, the bags are placed in larger bulker bags for transport to ALS labs in Perth, also labelled with corresponding company name, drill hole and sample identifiers. Sample pulps are stored in a dry, secure location at Galt's warehouse in West Leederville. Audits or reviews Data is validated by Benz staff and Expedio consultants as it is entered into MXDeposit. Errors are returned to field staff for validation. All drilled hole collars have been located with a DGPS. There have been no audits undertaken. Section 2 Reporting of Exploration Results(Criteria listed in the preceding section also apply to this section) Criteria Commentary Mineral tenement and land tenure status Glenburgh Gold Project is a group of 10 tenements and 2 applications. The majority of known gold deposits are located on Mining Lease M09/148. The tenement is 100% owned by Benz Mining Limited. The tenements are in good standing and no known impediments exist. Exploration done by other parties Since Helix Resources in 1994 and subsequent work by Gascoyne Resources, about 159149 soil samples, 1349 vacuum holes and 2285 auger holes have been completed at Glenburgh. 9 diamond holes, 398 RC holes, 6 air-core holes and 462 RAB holes have been drilled in the Glenburgh area to identify the distribution and evaluate the potential of the deposit. Drilling to date has identified 10 high potential deposits in the Glenburgh area which are: Tuxedo, Icon, Apollo, Mustang, Shelby, Hurricane, Zone 102, Zone 126, NE3 and NE4 deposits. Geology Gold mineralisation at the Glenburgh deposit is hosted in Paleoproterozoic upper-amphibolite to granulite facies siliciclastic rocks of the Glenburgh Terrane, in the southern Gascoyne Province of Western Australia. Gold was first discovered at the Glenburgh deposit in 1994 by Helix Resources during follow-up drilling of soil geochemical anomalies. Mineralisation occurs in shears within quartz + feldspar + biotite ± garnet gneiss, which contains discontinuous blocks or lenses of amphibolite and occasional thin magnetite-bearing metamorphics, probably derived from chemical sediments. Higher-grade mineralisation appears to be directly related to silica flooding in the gneiss. This silica flooding may give rise to quartz 'veins' up to several metres thick, although scales of several centimetres to tens of centimetres are the norm. Neither the higher-grade silica lodes nor the more pervasive lower-grade mineralisation exhibits sharp or well-defined lithological contacts. Drill hole Information For this announcement, 3 Reverse Circulation (RC) drill holes are being reported. Collar details have been provided in Appendix 1. For earlier released results, see previous announcements by Gascoyne Resources and Spartan Resources. Data aggregation methods No material information has been excluded. High grade: A nominal 1 ppm Au lower cut off has been applied to the results, with up to 3m internal dilution. Bulk potential reported with a nominal 0.2 ppm Au lower cut off with no maximum internal dilution length applied Higher grade Au intervals lying within broader zones of Au mineralisation are reported as included intervals. No top cuts have been applied to reported intercepts. No metal equivalent values have been used. All reported assays have been length weighted if appropriate. Relationship between mineralisation widths and intercept lengths Drilling is generally oriented perpendicular to the interpreted strike of mineralisation, and intercepts are reported as downhole lengths unless otherwise stated. To improve understanding of true widths, a subset of holes in this program were drilled from the opposite azimuth to previous drilling to test structural geometry, with initial results indicating that earlier intercepts are likely to approximate true width. Ongoing drilling and geological modelling are required to confirm the true orientation and extent of mineralised lenses. Diagrams Relevant diagrams are included in the report. Balanced reporting All meaningful data relating to the Exploration program has been included and reported to the market as assays are received. Other substantive exploration data See body of announcement. Further work Assays for the remainder of the programme will be reported once received and validated. Detailed field mapping has commenced to refine targets for the next round of drilling. Geophysical techniques are being investigated to reduce the search space of high-grade lenses away from defined resource areas and/or high-grade drill intercepts. 1 Indicated: 13.5Mt at 1.0g/t Au for 430.7koz; Inferred: 2.8Mt at 0.9g/t Au for 79.4koz. See Historical Mineral Resource Estimates, below2 Indicated: 1.3Mt at 9.0g/t Au for 384koz; Inferred: 3.8Mt at 5.1g/t Au for 621koz To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-06-2025
- Business
- Yahoo
Golden Cariboo Resources Update on PhotonAssay(TM) Orientation Study for Gold Analysis
VANCOUVER, BRITISH COLUMBIA - June 17, 2025 (NEWMEDIAWIRE) - Golden Cariboo Resources Ltd. (the "Company") (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces an update on its PhotonAssay(TM) orientation study, an advanced assay technology designed to deliver precise and efficient results for gold exploration. The Company has contracted ALS Canada Ltd. to conduct an orientation study utilizing innovative Chrysos PhotonAssay(TM) technology ("photon assay") to analyze gold content in select rock and drill core samples from its Quesnelle Gold Quartz Mine property (the "Property"), located approximately 4 kilometers (2.5 miles) northeast of Hixon, central British Columbia, Canada. This study, detailed in the April 29, 2025 News Release, is designed to evaluate the potential for better addressing the nugget effect, one of the most persistent challenges in precious metals exploration, while potentially improving assay turnaround times. The ALS Canada Ltd. laboratory in Thunder Bay, Ontario, Canada have confirmed receipt of pulp and reject samples of the selected samples of drill hole QGQ24-20 which were prepared by their North Vancouver laboratory and from which earlier fire assay analysis reported 0.71 g/t gold with 6.96 g/t silver over 341.96 m (1121.9 ft) from 20.12 m (66.0 ft), including 0.99 g/t gold with 9.8 g/t silver over 236.88 m (777.2 ft) and 1.45 g/t gold with 16.05 g/t silver over 137.17 m (450.0 ft) (February 25, 2025 News Release). Additionally, with preparation now completed at the North Vancouver, BC laboratory, reject samples of drill hole QGQ24-21 are also enroute to the lab in Thunder Bay for photon assay prior to pulverizing the ~500 gram (1.1 pound) sample and completing a fire assay for gold on a 50 gram aliquot from the same sample. Drill hole QGQ24-21 reported multiple <1mm visible gold grains observed (April 17, 2025 News Release) and was the ninth consecutive hole with visible gold since the initial discovery of the Halo zone in July, 2024 (July 18, 2024 News Release). Ultimately, pending final results and overview, photon assay may replace fire assay as the main method for gold quantification in all future rock and core samples taken at the Property. ALS Canada's commitment for rapid processing and quality analysis ensures that results will be delivered promptly, and the Company looks forward to sharing these findings in the coming days. "Golden Cariboo remains committed to employing innovative exploration techniques and appreciates the continued support of its shareholders," said Frank Callaghan, President and CEO of Golden Cariboo Resources Ltd. "The upcoming results will provide valuable insights as we advance our exploration efforts at the Quesnelle Gold Quartz Mine property." The technical information in this news release has been reviewed by Jean Pautler, an independent consultant commissioned by the Company. Jean Pautler is a Professional Geoscientist ( registered with the Association of Professional Engineers and Geoscientists of the Province of BC ("APEGBC") and licensed by Engineers and Geoscientists BC, and is a "Qualified Person" with respect to NI 43-101. About Golden Cariboo Resources Ltd. Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property which is bordered by Osisko Development, partly intertwined with them at the north end of the Cariboo Gold Project, and located along a favorable corridor adjacent to the Spanish and Eureka thrust faults over a 94,899 hectare (234,501 acre) area. Historically, over 101 placer gold creeks on the 90-kilometer (56 mile) trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production and successful placer mining continues to this day. Golden Cariboo's Quesnelle Gold Quartz Mine property is 4 kilometers (2.5 miles) northeast of, and road accessible from, Hixon in central British Columbia. The Property includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities. Hixon Creek, which dissects the old workings, is a placer creek which has seen small-scale placer production since the mid 1860s. For further information please contact:GOLDEN CARIBOO RESOURCES LTD. "J. Frank Callaghan" J. Frank Callaghan, President & CEOTel: 604-669-6463 VISIT OUR WEBSITE FOR MORE LIKE AND FOLLOWInstagram, Facebook, X (Twitter), LinkedIn Neither the "CSE" Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statements: This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general working capital; the Company's exploration plans with respect to its Quesnelle Gold Quartz Mine property; and the anticipated participation of the insider in the Offering. Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for property exploration and for general working capital; that the Company will have the resources required to proceed with its exploration plans; that the Company will not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis anticipated. Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not receive the necessary exemptions and approvals to complete the Offering; that the Company will not complete the Offering on the terms disclosed, or at all; that the Company will be unable to use the proceeds for property exploration and for general working capital; that the Company may incur unanticipated costs; that the Company may not have the resources required to pursue its exploration plans; that the Company's operations could be adversely affected by possible future government legislation policies and controls or by changes in applicable laws and regulations; that the insider may not participate in the Offering on the terms and conditions and in the amount currently expected by management, or at all; and that the Company may not be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis currently expected. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release. The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
