Gaia Metals Samples 5.7 g/t Gold and 49 g/t Silver in New Outcrop Discovery at the Freeman Creek Gold Property, Idaho, USA
Vancouver, British Columbia--(Newsfile Corp. - January 7, 2021) - Gaia Metals Corp. (TSXV: GMC) (OTCQB: RGDCF) (FSE: R9G) (the "Company") is pleased to announce a new high-grade gold-silver discovery in outcrop at the Gold Dyke Prospect, Freeman Creek Gold Property. Samples were collected during construction of drill site access trails for the Company's recently completed maiden drill program (see news released dated November 12th, 2020).
The discovery was made during construction of drill site access, exposing mineralized outcrop. A total of 33 surface rock samples were collected, with a peak value of 5.7 g/t Au and 49 g/t Ag and a total of 17 returning >0.1 g/t Au from an oxidized and quartz veined silicified metasediment located north and east of the recently completed drilling. The orientation and extent of the mineralization is not known.
The discovery is significant as it highlights a new area of interest not previously recognized. The outcrop is located approximately 50 m east of the documented historical drilling and more than 100 m from the nearest 2020 drill hole (see Figure 1). This northeastern area of the Gold Dyke Prospect has seen relatively little exploration attention when compared to the areas to the west and south. Follow-up surface exploration of the discovery is planned for the spring/summer of 2021.
President & Director Blair Way commented; "These results are very encouraging as they have expanded our understanding of the area and opened up the prospect in a new direction. This provides us with additional data for defining our spring drill program."
The Company recently completed a reconnaissance maiden drill program at the Gold Dyke Prospect consisting of four (4) diamond drill holes, totalling of 457 m (see news released dated November 12th, 2020). Drill core sample analysis was delayed due to COVID-19 and the Christmas holiday period; however, the Company anticipates all results to be received and announced shortly.
Collectively, the 2020 surface sampling at Gold Dyke has outlined a prospective area considerably larger than previously recognized and includes numerous sample assays ranging from 0.5 to 10.9 g/t Au and 1 to 292 g/t Ag (+/- Cu). Mineralization at Gold Dyke is hosted by strongly silicified meta-sediments with common vugs, quartz veining, and minor sulphides (pyrite, chalcopyrite). The Gold Dyke area may be directly accessed by secondary gravel roads and is located on BLM lands outside of US Forest Service Lands and other protective areas.
To view an enhanced version of Figure 1, please visit:
QA/QC Analytical Procedures
All rock samples collected (grab), as well as quartz blanks and certified reference materials, were shipped by ground to SGS Canada Inc's laboratory in Burnaby, BC for multi-element analysis (including Ag) by sodium peroxide fusion and ICP-MS finish (code GE_IMS90A50), Au analysis by fire assay and AAS finish (code GE_FAA30V5), and Ag by 2-acid digestion and AAS finish (code GE_AAS22E50).
Management cautions that surface rock sample assays, as presented herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration for the Company and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Gaia Metals Corp.
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals, including platinum group elements, and lithium.
The Company's flagship asset is the Freeman Creek Gold Property, located in Idaho, USA. The Property hosts two major advanced targets; the Gold Dyke Prospect, with an historical drill intercept of 1.5 g/t Au and 12.1 g/t Ag over 44.2 m (RDH 8), and the Carmen Creek Prospect, with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.
Additional assets include the wholly owned Corvette Property, and the FCI Property (held under Option from O3 Mining Inc.) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
On Behalf of the Board of Directors,
Adrian Lamoureux, CEO & Director
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 news release.
Forward Looking Statements:
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71560