TORONTO, April 8, 2019 /CNW/ - Warrior Gold Inc. (TSX-V - WAR) ("Warrior Gold" or the "Company") is pleased to provide an update on the Company's drill program on its Goodfish-Kirana Project in Kirkland Lake, Ontario. To date, 1,522 metres of drilling has been completed in 10 holes, 845 m of core has been logged, 650 m of core has been sampled and 482 samples have been delivered to ALS Geochemistry ("ALS") in Timmins for assay analysis.
Tom Neelands, Chief Geologist, Warrior Gold, stated, "Our 14-hole diamond drill program has been designed to test four high-priority zones which host encouraging gold mineralization characteristic of Abitibi-type gold deposits: Goodfish A Zone; Goodfish A-Zone East; Goodfish C Zone and the Deloye claims. Drilling has been completed on the Deloye claims and at the C Zone and is currently underway at the Goodfish A Zone. We are very pleased with how the drill program is progressing and drilling close to Kirkland Lake, a mining town, provides ideal logistical support for the drill program."
The Goodfish-Kirana Project is situated approximately six km north of the Cadillac-Larder Lake Fault Zone in Kirkland Lake (Figure 1) and hosts numerous gold showings, pits, shafts and several historical underground workings.
The A Zone is a high-grade gold target that is hosted in an east-southeast trending shear zone. This area contains the property's most extensive historical underground development and past drilling. The majority of this drilling was conducted in the 1990s and lacks complete sampling and assay records. Warrior's drilling is testing the extension of the mineralization along strike and down dip of a historic drill intercept of 12.65 m that assayed 16.97 g/t Au (GF95-04).
Is a northeast-trending shear zone that was insufficiently drill tested in the 1980s and 1990s. High-grade mineralization associated with the contact of quartz-feldspar porphyry and mafic volcanics, as well as high-grade grab samples indicate that the mineralization continues along strike. Magnetic signatures from the airborne survey suggest a possible association with an inferred cross-fault. Drilling is intended to confirm historic grades and confirm the Zone's continuity along strike and down-dip.
The Deloye Zone is interpreted to be an extension of the Kirana Deformation Zone which intersects the southern extention of the Goodfish Deformation Zone. The target area includes a 1930s shaft with high-grade gold in grab samples, drill core samples, and mapped quartz-feldspar porphyries. Drilling is designed to test the Kirana Break below the historical Kirana Kirkland Mine underground workings, and the gold mineralization along deformed porphyry contacts.
The target is a shallow geophysical IP anomaly (chargeability/resistivity) coincident with an inferred cross-fault and fold hinge as identified in the airborne magnetics. Drilling is testing both the structure and the IP anomaly.
Analytical Procedures and QA/QC
Program design, management, and Quality Control/Quality Assurance are conducted by Warrior Gold's exploration group under the supervision of Tom Neelands, P.Geo, who is the Company's Qualified Person.
Drill core samples are cut by diamond saw at CXS in Larder Lake, Ontario, 27 km east of Kirkland Lake. A halved core sample is left in the core box with the other half core sampled and transported by Warrior Gold's personnel in securely sealed bags to ALS preparation laboratory in Timmins, Ontario. After sample preparation, samples are shipped to ALS's Vancouver facility for gold and ICP analysis. Gold assays greater than three g/t are re-assayed on a 30 g split by fire assay with a gravimetric finish. ALS is a certified and accredited laboratory service. ALS routinely inserts certified gold standards, blanks and pulp duplicates, and results of all QC samples are reported.
The technical information contained in this news release has been approved by Tom Neelands, P.Geo., the Chief Geologist of Warrior Gold, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange listed Company that owns the Goodfish-Kirana Property located five km from the Town of Kirkland Lake, Ontario. The Property is located in the historic Kirkland Lake Gold Camp which is situated in the prolific Abitibi Greenstone Belt, recognized as one of the world's highest grade greenstone belts with over 200 million ounces of gold produced to date.
The Goodfish-Kirana Property is 11.5 km long by roughly three km wide (34 km2) and contains three major structural trends: the east-west trending Kirana Deformation Zone; the northeast trending Goodfish Deformation Zone; and the Victoria Creek Deformation Zone on the recently acquired Sutton claims on the northeast side of the property. The Property contains numerous historical gold showings, as well as 18 historical pits and shafts.
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 adequacy or accuracy of this release.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company's Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2018 and the third quarter ended December 31, 2018, which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This press release does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this press release nor anything contained in it shall form the basis of any contract or commitment. In particular, this press release 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.
SOURCE Warrior Gold Inc.
For further information: Danièle Spethmann, P.Geo., President & CEO, Warrior Gold Inc., +1 647 344-3433, [email protected]; Malcolm Burke, Director, Warrior Gold Inc., +1 604 220-2000, [email protected]