Decade Resources Receives Drill Permits and Drilling Starts on Del Norte Project
Stewart, British Columbia--(Newsfile Corp. - August 17, 2020) - Decade Resources Ltd (TSXV: DEC) (OTC: DECXF) ("Decade" or the Company) announces that it has been informed by Teuton that drill permits have been received for the Del Norte property. It was optioned from Teuton Resource Corp. in January of 2020 with terms allowing the Company to earn up to a 55% interest in the property by spending $4 million over a five year period. The Company can an earn an additional 20% interest by carrying the property to commercial production. The property lies within BC's "Golden Triangle" located 34 kilometres east of Stewart, BC and is comprised of 5,830.16 ha in 13 separate claims.
The Company has prepared an "apex" pad on a nunatak in the south Nelson glacier allowing for testing veins and breccias associated with the LG vein. Drilling will occur along 3 different azimuths. Due to the intended length of holes, any intersections will be appreciable distances apart. The holes are testing an indicated zone that may be separate from the main LG vein based on new interpretations of previous data. The postulated new zone was intersected in the only 2 deeper holes testing the area; one 2004 and one 2005 hole. These holes were at the edge of the ice surface during the 2004 and 2005 years of exploration. The new zone called the LG Deep zone is west of the main LG structure and east of the newly discovered Eagles Nest zone. Results for these 2 previous holes are shown below:
|Drill Holes||Width (m)*||Gold g/t||Silver g/t||Gold Equivalent)**|
* Drill Indicated width only
** Gold equivalent calculated as follows: Gold-Silver ratio of 73.5 based on the August 15, 2020 closing prices of $1,944 an ounce for gold and $26.44 an ounce for silver.
Exploration work is being conducted from Stewart in order to avoid a camp situation that may lead to health concerns due to the COVID-19 virus. The Company uses a Stewart based helicopter for support. A pad building crew, diamond drill crew and support staff mobilize on a daily basis from a staging area near the project. The geological crew is one that the Company has relied on for a number of years and which has intimate knowledge of the property.
The Company has completed a $1.2 million flow through financing to fund the program.
Analysis will be performed by Activation Laboratories Ltd in Kamloops BC.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca which is presently being updated. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.
Ed Kruchkowski, President
"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." "This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."
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