VANCOUVER, Dec. 27, 2018 /CNW/ - Warrior Gold Inc. (TSX-V - WAR) ("Warrior Gold" or the "Company") is pleased to announce that the Company has received positive results from the 3D IP (Induced Polarisation) survey on the recently acquired Deloye Patents located in the Goodfish-Kirana Project (see Figure #1).
Danièle Spethmann, President and CEO of Warrior Gold stated: "We are pleased with the results of the IRIS 3D IP geophysical survey. This is the first look at the Deloye Patents area of the Warrior Gold land position with this new technology. Several areas of elevated IP responses were identified (see Figure #2). The north-central IP high is located adjacent to the Deloye historic mine shafts south of Goodfish Lake along the Kirana Break. The close correlation of the chargeability high to the area of known mineralization is encouraging and gives us increased confidence that the survey results can be used as an effective tool in refining drill hole locations."
The survey was designed to explore the configuration/plunge of the Kirana-Kirkland Mine mineralization located on the Deloye patents and other parallel structures associated with quartz-feldspar intrusives on the property. The survey was executed by Canadian Exploration Services (CXS) of Larder Lake and covered 1.4 km2 with over 2700 IP data points acquired from a combination of 78 current injection points and 20 receiver locations.
The Deloye survey will be combined with other historical exploration data from Goodfish-Kirana to provide a comprehensive, property wide data layer for drill target selection.
Warrior Gold continues to carry out the first phase of an extended three phase exploration program on its Goodfish-Kirana Property located near the town of Kirkland Lake, Ontario. Phase I is focused on targeting and defining drill targets and developing a better understanding of the structural deformation zones on the property. The Company expects to announce the details of its exploration and drilling campaign in early 2019.
About Warrior Gold Inc.
Warrior Gold is a TSX-V listed Company and owns the Goodfish-Kirana Property located five kilometers 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 3 km wide (34 km2) and contains three major structural trends; the East West trending Kirana Deformation Zone; the North East trending Goodfish Deformation Zone; and the Victoria Creek DZ on the recently acquired Sutton claims on the north east side of the property. The Property contains numerous historical gold showings, including 18 historical pits and shafts. The Company is exploiting this largely underexplored land package with modern exploration technology and regional geological expertise.
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 first quarter ended June 30, 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.
SOURCE Warrior Gold Inc.