Ready Set Gold Reports Results from Fall 2020 Exploration Northshore Gold Project, Ontario
Toronto, Ontario--(Newsfile Corp. - January 12, 2021) - Ready Set Gold Corp. (CSE: RDY) ("Ready Set Gold" or the "Company"), a newly-listed junior gold exploration company exploring in the Hemlo region of Ontario, is pleased to report on gold exploration from the 2020 Fall Exploration Program on the "Northshore Gold" project located near Schreiber, Ontario.
The Company has:
- completed high-resolution airborne magnetic and Lidar surveys
- analyzed lithological observations, structural measurements, and structural features to understand the structural events affecting the gold mineralization
- Integrated the structural information and high-resolution magnetic / Lidar data to develop a geological interpretation for the structures and gold mineralization
Figure 1 - Overview map of the Afric deposit on the Northshore Project highlighting the Afric Zone (shown in red), historical underground infrastructure, interpreted structural corridors, and known significant veins
To view an enhanced version of this graphic, please visit:
- Completed a review of vein composition, textures, and geometry to understand the relationship between vein development and gold mineralization
- Submitted Exploration Plans to the Government of Ontario
- Completed 40 linear metres of trenching to follow up previous surface and boulder sample results from earlier in the year with channel samples taken on exposed veins
- results confirm the gold mineralized system in the No 4 Vein, and indicate a potential extension of the No 5 Vein
|Sample||Easting (NAD83)||Northing (NAD83)||General Area||Length (m)||Au g/t|
|S00355693||479916.4||5401688.9||Trench 01 - No 4 Vein||0.80||13.5|
|S00356204||479848.5||5401541.1||Trench 02 - No 5 Vein||0.74||34|
|S00356205||479924.5||5401687.8||Trench 01 - No 4 Corridor||Grab||1.17|
|S00356207||479911.6||5401687.9||Trench 01 - No 4 Vein||Grab||30.3|
Table 1: Select Trench Samples from Ready Set Gold's 2020 Fall Exploration Program
The fall exploration was a follow up to work completed in July 2020. Previously reported highlights from the July sampling / mapping included high-grade gold values from quartz veins, both within and outside of the "Afric" deposit, are listed below: (Note: these are selected grab samples taken where strong mineralization or visible gold was noted which are not representative of the overall grade of the veins).
|Sample Number||Sample Type||Area||Au g/t|
|355884||Float||Uphill from Main Vein||301|
|355869||Vein||Main Vein Adit||101|
|355857||Float||No 5 Ext||93.78|
|355856||Float||No 5 Ext||44.08|
|355855||Float||No 5 Ext||32.99|
|355871||Vein||Main Vein Adit||28.67|
|355873||Vein||Main Vein Adit||14.04|
|355879||Blast Rock||No 2 Raise||7.86|
|355883||Vein||Main Vein on surface||7.7|
|355868||Float||No 2 Vein waste pile||5.53|
Table 2: Summer 2020 Grab Samples - Gold assays in bold are samples taken outside of the Afric Zone
ABOUT NORTHSHORE GOLD PROJECT:
The Northshore Gold Project is located in the Hemlo-Schreiber greenstone belt, the host of the world-famous Hemlo Gold Camp, to the south of the former producing Winston Lake copper-zinc-gold-silver deposit. The Property is approximately 4 kilometres to the south of the town of Schreiber, Ontario and approximately 70 kilometres to the west, along the Trans-Canada Highway, from the Hemlo Gold Deposit. The project hosts gold mineralized zones, including the former producing North Shore Mine and the more recently defined Afric Zone, some of which contain spectacular visible gold in association with multi-phase quartz / quartz-carbonate veins.
In a report titled "Technical Report on the Mineral Resources of the Northshore Property" dated July 2nd, 2014, GTA Resources reported that the Afric Zone contained 391,000 ounces gold in 12,360,000 tonnes at a grade of 0.99 g/t gold in the Indicated category, and 824,000 ounces gold in 29,580,000 tonnes at a grade of 0.87 g/t gold in the Inferred category, using a cut-off grade of 0.50 grams gold per tonne. Ready Set plans to further investigate the opportunity to expand this deposit in all directions as well as to depth.
Past drilling campaign highlights:
Table 3 - Historical Diamond Drilling in the Afric Zone as reported by GTA Resources
Note: GTA data is filed on SEDAR
Modern exploration has almost exclusively been focussed on the "Afric" Deposit. Ready Set Gold plans include confirming and expanding the Afric zone and systematically evaluating vein related high-grade gold in an approximate 600 metre radius around the deposit where structurally related high-grade veins are known. One target is the "Main Vein" located approximately 550 meters to the north of Afric which was mined from 1934 to 1941 producing 2,441 oz Au from 3,808 tons of milled ore before stopping due to reasons associated with WWII. The Main Vein area has not been drilled but has been mapped over a 500 m east-west distance.
Christian Scovenna, CEO & Director of Ready Set Gold., "The summer and fall exploration work conducted on our flagship property, demonstrates that that there is merit in advancing the "Afric" deposit, with its defined resources, as well as pursuing opportunities provided by the under explored, high-grade vein systems, which provide blue-sky potential for early-stage investors."
Sampling, Analyses, and QAQC:
The samples from the trenching program are chip/channel samples of outcrop/sub-crop in the trenches. Sample preparation and assays were completed at SGS Canada using industry standard sample preparation and analytical techniques including GE FAA30V5 - Au, FAS - exploration grade, AAS, 30g-5ml; GE FUZ90A50 - Fusion, 550°C, HNO3, ICPAES, 0.1g-50ml, Zr crucibles; GE_IMS90A50 - Na2O2 Fusion, HNO3, ICP-MS, 0.1g-50ml; GO_FAG30V - Au, FAS, Gravimetric, 30g; for Au as required. QA/QC included Certified Reference Materials and blank materials. All samples were in the possession of Company geologist from collection to submission at the SGS Canada Laboratory in Sudbury, ON, and then transported by SGS to their facility in Burnaby, BC.
Peter Dimmell, P. Geo (ON, NL), a technical advisor to Ready Set Gold Corp, and a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical disclosure in this news release.
Marketing Initiative(s) Update:
The Company announces that it has engaged a syndicate of marketers, market making and consultants to help share Ready Set Gold's information to a wider audience. This syndicate includes; Proactive Investors North America Inc. ("Proactive"), Market One Media Group Inc. ("Market One"), Stockhouse Publishing Ltd. ("Stockhouse"), Mezzo Consulting Services S.A. ("Mezzo"), Golden Capital Consulting Ltd. ("Golden"), Investing News Network ("Investing News Network"), and Gerhard Merkel ("Gerhard Merkel") (collectively, the "the Syndicate") to provide services to the Company.
As in-person events, fundraisers and awareness-raising campaigns have been unavoidably delayed or cancelled due to the COVID-19 pandemic, the Company will utilize the Syndicate to continue the Company's marketing and public awareness efforts with its intended and targeted audiences.
The Company has entered into an agreement with Proactive to provide written and video interview coverage of news releases and written content. The agreement covers a term of one
year at an aggregate cost of CAD $37,500. To the knowledge of the Company, Proactive owns 62,500 common shares of the Company.
The Company has entered into an agreement with Market One to provide digital media services, marketing, and data analytics services. The agreement covers a term of one year at an aggregate cost of CAD $300,000. To the knowledge of the Company, Market One does not own or control any securities of the Company.
The Company has entered into an agreement with Stockhouse for the purposes of targeting potential investors through their online platform. The agreement covers a term of one year at an aggregate cost of CAD $120,000. To the knowledge of the Company Stockhouse does not own or control any securities of the Company.
Mezzo & Golden
The Company has entered into an agreement with Mezzo for the purposes of introducing the company to a European audience. The agreement covers a term of six months for an aggregate cost of CAD $314,000, which covers fees for both Mezzo and Golden. To the knowledge of the Company Mezzo and Golden each own 75,000 stock options for common stock of the Company.
Investing News Network
The Company has entered into an agreement with Investing News Network for the purpose of targeting potential investors through their online platform. The agreement covers a term of one year for an aggregate cost of CAD $80,000. To the knowledge of the Company Investing News Network does not own or control any securities of the Company.
The Company has entered into a consulting agreement with Gerhard Merkel for the purpose of targeting potential global investors. The agreement covers one year for an aggregate cost of CAD $125,000. To the knowledge of the Company Gerhard Merkel does not own nor control any securities of the Company.
About Ready Set Gold Corporation:
Ready Set Gold Corp. is a precious metals exploration company listed on the Canadian Securities Exchange under symbol RDY. The Company has consolidated and owns a 100% interest in the Northshore Gold Property located in the prolific Schreiber-Hemlo Greenstone Belt near Thunder Bay, which is prospective for gold and silver mineralization. The Property is one of Ontario's largest undeveloped prospective gold projects, containing a National Instrument (NI) 43-101 compliant Mineral Resource Estimate by GTA Resources in 2014 of 391,000 ounces gold in 12,360,000 tonnes at a grade of 0.99 g/t gold (indicated), and 824,000 ounces gold in 29,580,000 tonnes at a grade of 0.87 g/t
gold (inferred) at a cut-off grade of 0.50 g/t Au. The Company also owns a 100% interest in two separate claim blocks totaling 4,453 hectares - the Hemlo Eastern Flanks Project. This project, is located in similar geology 7 km to the east of Barrick's operating Hemlo Mine that has produced more than 21 million ounces of gold. The Company also holds an option to acquire a 100% undivided interest in a property of 1,634 hectares - the Emmons Peak Project, located 50 km to the south of Dryden, Ontario that is near the Treasury Metals Goliath and Goldlund advanced gold development projects.
On Behalf of the Board of Directors,
READY SET GOLD Corporation
Chief Executive Officer & Director
CEO Direct Line: +1 (416) 453-4709
For further information please contact:
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Ready Set Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Although Ready Set Gold believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Ready Set Gold to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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