HALIFAX, May 10, 2017 /CNW/ - Antler Gold Inc. ("Antler") (TSX-V:ANTL) is pleased to provide an update on its Winter 2017 exploration program including ground and airborne geophysical surveys as well as till survey geochemistry results at its Wilding Lake Gold Project ("Project") in central Newfoundland. The summer exploration program, to commence the third week of May, will entail detailed and regional soil sampling, prospecting and mapping, mechanical trenching and rock sampling in preparation for a fall drilling program.
Six new bedrock gold occurrences were discovered in 2016 by prospecting and follow-up trenching along recent logging roads and demonstrate a robust gold system that include previously released results of:
- Alder Zone: 6.0g/t over 8.5m, 8.7g/t over 6.7m and 49.3g/t over 4.6m
- Taz Zone: 28.8g/t over 1.0m, 12.2g/t over 0.9m and 14.6g/t over 0.65m
- Elm Zone: 101.5g/t over 0.5m, 93.1g/t over 1.3m, 37.5g/t over 0.9m and 18.0g/t over 1.2m
Exploration Winter 2017 Program Results
Tills. A total of 67 widely spaced, excavator-dug, basal till test samples were collected as part of the November 2016 program carried out by Altius Resources Inc. within the Wilding Lake claim block. Sampling targeted both the immediate area surrounding the six new gold occurrences and adjacent to the new logging access roads. These samples were screened at Altius's in-house facility in Mount Pearl, Newfoundland, and the fine fractions were sent to ALS Minerals laboratory in Sudbury, Ontario for gold geochemical assay. The program returned twenty-eight sample assay values of >200 ppb Au (206 to 1000 ppb Au, with six samples of 1000 ppb Au). The survey has successfully outlined gold-in-till anomalies associated with the known gold occurrences while also defining new gold anomalies deemed prospective for prospecting, soil sample surveying and trenching follow-up in the summer program.
Please visit www.antlergold.com and click on "News Release May 10th, 2017" to view a map of the till sample results.
Ground and Airborne Geophysics. A ground magnetic geophysical survey totaling 82 line kilometres was carried out over an approximately 2.5 km by 1.5 km cut grid. The grid is centered over the Alder/Taz (AT) and Cedar/Elm (CE) gold zones in the Wilding claim block. In addition, a test IP-Resistivity geophysical survey was completed over four grid lines that covered the AT and CE zones. Both surveys were completed by Abitibi Geophysics (Abitibi) of Val-d'Or, Quebec. The ground magnetic survey has improved the geological understanding of the property, and the IP-Resistivity survey was successful in mapping the resistivity and polarizable properties of the geological formations. In particular, a few local resistive zones of interest were identified which can be associated with altered (silicified) zones or quartz veins. The Alder gold zone is well defined as a coincident resistivity anomaly in the survey. Abitibi has recommended drilling eleven chargeable and/or resistive targets defined in the survey.
A heli-borne triaxial magnetic gradiometer survey commenced in February at 75-metre spaced lines targeting the entire Wilding Project. The purpose is to assist in the overall regional geological interpretation of the prospective area and in particular the mapping of structures that are inferred to control the gold mineralization. The survey is being conducted by Scott Hogg and Associates Ltd. of Toronto, Ontario. The Wilding and Wilding East blocks were completed, but in March the survey was put on hold due to continuously poor weather conditions. Approximately 80% of the Noel Paul claim block was completed and the survey is expected to recommence in mid-May with an estimated three days of surveying required to complete the contract.
An ongoing geophysical compilation, modelling and interpretation study of the Wilding Project is being conducted by geophysicist Alan King MSc. of Geoscience North Ltd, Sudbury Ontario. Preliminary evaluation of the Wilding claim block concludes that the new gold occurrences appear to be associated with cross-cutting local structure and mag anomalies, and possibly with weak to moderate IP anomalies. The geophysical surveys and interpretation has provided key information to focus further exploration on specific gold prospective target areas.
2017 Summer Program.
The 2017 exploration program will systematically explore the entire Project with the target to generate multiple targets for a fall 2017 drill program. Following the discovery of six new gold occurrences in 2016, Antler and Altius have generated a number of new potential gold targets for follow-up in 2017 that were generated from a combination of ground mag and IP geophysical data, heli-airborne mag geophysical data, till data, as well as, the recently reported gold assay in soil sample survey anomalies. In preparation for the drilling program, the summer program will consist of detailed and regional soil sampling, prospecting and mapping, mechanical trenching and rock sampling. Antler's field exploration team will consist of six geologists and two prospectors with the program set to commence in the third week of May, 2017.
The Wilding Lake property hosts high grade gold mineralization within shear-related orogenic style quartz veins and quartz stockworks underneath shallow overburden in an area that has not previously been systematically explored for gold. The large property encompasses 21,500 hectares and covers greater than 50 kilometres of strike length immediately northeast of and adjacent to Marathon Gold Corporation's Valentine Lake project. In addition, Antler announced on March 30, 2017 an additional option agreement with Altius to acquire a 100% interest in an additional 1,678 minerals claims in central Newfoundland from Altius by, amongst other things, issuing 980,000 common shares of Antler and a 2% NSR Altius. The additional ground acquired will nearly triple Antler's land holdings along the prospective trend and increase the strike length Antler controls to 140 kilometres. The closing of the additional option transaction is subject to a number of conditions, including the approval of the TSXV.
All till samples were collected by Altius Resources Inc's personnel on site, sealed in bags and shipped to Altius's secure facility in Mount Pearl, Newfoundland were the samples were dried and screened before shipping the fine fraction to the ALS Minerals laboratory in Sudbury, Ontario. Gold and the multi-element assay package were analyzed by 50g assay with ICP-MS. Exploration program design and field management, Quality Assurance/Quality Control and interpretation of results was performed by Jeff Morgan, P.Geo., Exploration Manager for Altius Resources Inc., and Dave Evans, P.Geo., Silvertip Consulting, qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices; note that blind standards and blanks were not employed by Altius in this initial till assessment but QC standard and blank procedures were used by ALS Minerals.
Howard Bird, P.Geo., Vice President, Exploration of Antler Gold Inc., is the qualified person as defined by NI 43-101 guidelines and has reviewed and approved this release.
This press release may contain forward-looking information, such as statements regarding Antler's planned work program for the Project. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict, including risks relating to the ability to complete the work program in the expected timeframe, adverse weather and other conditions affecting work programs at the Project. Actual results may differ materially from results suggested in any forward-looking information. Antler does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to Antler. Additional information identifying risks and uncertainties is contained in the filings made by Antler with Canadian securities regulators, which filings are available at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Antler Gold Inc.
For further information: Daniel Whittaker, President and CEO of Antler Gold Inc., at (902) 488-4700.