TORONTO, Sept. 26, 2018 /CNW/ - Havilah Mining Corporation ("Havilah" or the "Company" -TSXV: HMC) is pleased to announce it has received all necessary approvals for its Phase 1 drilling program at its 100% owned Ogama-Rockland project, located in Manitoba, Canada (the "Property") and has commenced drilling.
The $0.7 million program includes an initial five holes totalling 2,000 metres. Concurrent with the drilling program, Havilah's geology team is relogging, sampling and photographing approximately 24,000 metres of drillcore from the previous operator, which was stored onsite but is being relocated to secure facilities at Havilah's True North mine and mill complex. In addition, the current program will include channel sampling of mineralized veins and structures exposed on surface.
Results obtained from this program will be utilized to verify results reported by the previous owners, Bison Gold Resources Inc., which were used to establish a historical inferred mineral resource estimate of 1.28 million tonnes containing 337,000 ounces of gold at a grade of 8.17 g Au/t(1). A Qualified Person as such term is defined by NI 43-101 has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve and the Company is not treating the historical estimate as a current mineral resource or mineral reserve.
Blair Schultz, Chairman & Interim President and Chief Executive Officer, commented: "Using the proceeds from the Company's recently completed financing, predominantly supported by officers and directors, we look forward to exploring Ogama-Rockland aggressively and executing on the Company's strategy of delineating multiple deposits to provide feed to the True North mill".
Dr. Scott Anderson, Vice President, Exploration stated: "This drilling program, coupled with the systematic relogging and sampling of existing drill core, represents an important first step towards an updated mineral resource estimate for the Ogama-Rockland deposit. Havilah is taking a measured, methodical approach to this project by verifying historical results and evaluating the considerable volume of available data in order to guide and focus future exploration efforts within the project area".
Fourth Quarter 2018 Drill Program
The drill program is designed to test each of the modelled vein systems at Ogama-Rockland (Figure 1), in locations previously reported to contain significant mineralized intercepts. Auriferous veins at Ogama-Rockland are controlled by subparallel arrays of brittle-ductile shear zones within a tonalite-granodiorite pluton. The drill program will include the acquisition of oriented drill core for the purpose of evaluating the geometry of the vein systems in much greater detail than has been done previously, thus refining the predictive exploration model for the Property.
For a project overview map showing the planned drill holes for the 2018 program (OR-18-001 to 005), as well as the surface projections of the shear/vein systems and the underground levels of the historic Ogama-Rockland mine, please click on the following link: https://www.havilahmining.com/bison-plan-map/
(1)Information Regarding Historical Estimates
All historical scientific and technical information relating to the Property in this news release are based on and derived from the National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") technical report for the Property titled "A Technical Review of the Ogama-Rockland Deposit on the Rice Lake Property, Manitoba, Canada for Bison Gold Resources Inc.", dated November 15, 2013, prepared by Andrew M. Chater, Ph.D., P.Geo, Senior Associate Geologist, Jamie Lavigne, M.Sc., P.Geo., Senior Associate Geologist and Clifford J. Duke, P.Eng., Senior Associate Geological Engineer of Watts Griffis and McOuat Limited (the "Technical Report"). The Technical Report is available under Bison Gold Resources Inc.'s issuer profile on SEDAR at www.sedar.com. The Company considers Bison Gold Resources Inc.'s resource estimate, as referenced above in this news release, to be a historical estimate. Although the Company believes this source to be generally reliable, such information is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other inherent limitations and uncertainties. There are numerous uncertainties inherent in historical estimates, which are subject to all of the assumptions, parameters and methods used to prepare such historical estimates and reference is made to the full text of the Technical Report with respect thereto. There are no other recent estimates or data available to the Company as of the date of this news release and a detailed exploration program is required to be conducted by the Company in order to treat the historical estimate as a current mineral resource.
Qualified Person Statement
Dr. Scott Anderson, Ph.D., P.Geo., is the Qualified Person as defined by NI 43-101 who has reviewed and approved the contents of this news release. Dr. Scott Anderson is also a Competent Person (as defined in the JORC Code, 2012 edition) who is a practicing member of Engineers Geoscientists Manitoba (being a 'Recognised Professional Organisation' for the purposes of the ASX Listing Rules). Dr. Scott Anderson is employed on a full-time basis as Vice President, Exploration of the Company.
Ogama-Rockland is part of Havilah's extensive land position within the highly prospective Rice Lake greenstone belt – part of the Uchi volcano-plutonic subprovince of the Archean Superior province, which extends eastward for several hundred kilometers and includes the prolific Red Lake gold district in adjacent Ontario. The Property is located approximately 25 km southeast of the mining town of Bissett and the Company's True North mine and mill complex. The historic Ogama-Rockland deposit was mined from 1948 to 1951 and produced a total of 45,440 ounces of gold from 126,192 tonnes of ore at a recovered grade of 10.26 g Au/t.
About Havilah Mining Corporation
Havilah is a junior gold producer that owns the True North mine and mill complex and is currently reprocessing historic tailings. In addition to operating True North in Bissett, Manitoba, Havilah owns approximately 43,000 hectares of highly prospective land within and adjacent to the Rice Lake belt. Havilah believes their land package is a prime exploration opportunity to develop a mining district with a central milling facility. The Company also owns the Tully project near Timmins, Ontario. The Company intends to focus on both organic growth opportunities and accretive acquisition opportunities in North America.
Havilah's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875). Havilah looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation in order to build mutually beneficial working relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman and Interim President and Chief Executive Officer
Cautionary Statement Regarding Forward Looking Information:
This press release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. This press release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including but not limited to, statements about the plans and exploration results of the Ogama-Rockland drill program and the timing and results of the mineral resource estimate', are forward-looking statements. Although Havilah has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE Havilah Mining Corporation
For further information: please contact: Shaun Heinrichs, CPA, Interim Chief Financial Officer, (604) 674-1293, [email protected], www.havilahmining.com