Gold Tree Completes First Exploration Program at Skygold Project
Vancouver, British Columbia--(Newsfile Corp. - September 19, 2022) - Gold Tree Resources Ltd. (CSE: GTX) ("Gold Tree" or the "Company") is pleased to announce results from the initial exploration program on its Skygold Project located in the Cariboo region of central British Columbia (the "Property").
New sampling has identified a highly anomalous concentration in till heavy mineral concentrate (HMC) of up to 420.79 g/t gold (Table 1) in Sample SG-22-TIL-04, collected to the northeast of Frost Lake (Figure 2). The new results extend the existing gold in till anomaly "B" up ice and expand the pre-existing anomaly "B" to approximately 1,600 metres by 1,100 metres (Figure 2). Anomaly "B" is now composed of both pristine and reshaped gold in till anomalies identified by the Company in 2019, including pristine grain samples up to 4.58 g/t gold in sample SGHM-19-20, and 180 pristine grains in sample SGHM-19-19.
Adrian Smith, CEO of Gold Tree commented, "We are pleased to see additional till samples with elevated gold values which reconfirms our belief that there could be one or more source areas for the anomalous gold within the project area."
Figure 1: Photomicrograph of selected modified and reshaped gold grains from SG-22-TIL-04. Note scale bar lower right.
To view an enhanced version of Figure 1, please visit:
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Detailed analysis of the sample material identified alongside the pristine gold grains in till can help to identify a potential source on the Property in the up-ice direction from the location of the samples. Potential sources include a currently un-discovered felsic intrusion that shows weak to pervasive epidote-actinolite alteration. Additional regional scale faulting identified through geological mapping and airborne magnetic data forms a direct correlation with anomaly "B" which also presents a favorable environment for gold deposition.
Sample SG-22-TIL-04 was composed of grains that were both modified and reshaped (Figure 1) indicating potential further distance to source than the adjacent samples suggesting multiple potential sources of gold within the Property. Further work is currently being considered by the Company in order to better define the potential source of the gold grains.
Table 1: Gold Grain in Till Summary 2022
|Sample Number||Number of Visible Gold Grains||Nonmag HMC Weight (g)*||Calculated PPB Visible Gold in HMC|
The program consisted of 26 samples with the high value 420.79 g/t Au, median value 0.427 g/t Au and lowest value 0.065 g/t Au (Table 1). Till samples were collected where adequate sample media was available. The survey extended the previously outlined "B" Anomaly particularly in the up-ice (southwest). The anomaly remains open to the east, north and west.
Till samples were collected from below the colluvial soil profile at a medial depth of 20 centimeters and placed into 5-gallon plastic pails which were sealed and shipped to Overburden Drilling Management Ltd. ("ODN") in Nepean, Ontario for processing. All samples are classified as till by ODM, composed of unsorted and angular clasts. All samples were sieved to under 8 mm in the field, accumulating approximately 12 kg of till per sample. During processing, one +/- 500 g archival split is taken and +/- 200g of each is sieved to -0.063 mm. Each sample was panned for gold, platinum group-bearing (PGMs) and fine-grained metallic indicator minerals separating any recovered gold grains from the table concentrate and measuring each grain and classifying it according to its degree of physical wear. Average tabled sample weights were approximately 10.9 kg for the batch presented in this news release.
Adrian Smith, P.Geo., is a Qualified Person ("QP") as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Engineers and Geoscientists of British Columbia (EGBC) and is a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
About Gold Tree Resources Ltd.
Gold Tree Resources Ltd. (CSE: GTX) is a Canadian based exploration company focused on the acquisition, exploration, and development of North American mining projects. The Company seeks to identify large-scale source areas of economic mineralization to create value for its shareholders. Gold Tree holds an option to purchase 100% interest in the SkyGold Project, in the British Columbia's Cariboo Placer Gold Region, the highest producing placer gold camp in British Columbia, Canada. Gold Tree also owns Lithium Valley Holdings LLC a wholly owned subsidiary holding 100% interest in and to the McDermitt Lithium Property located in Nevada, USA. For further information, please visit http://www.goldtreeresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
/S "Adrian Smith"
CEO and Director
FORWARD LOOKING INFORMATION
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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