Stevens Gold Announces Its Maiden Drill Program on Its Millennium Gold Property
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2021) - STEVENS GOLD NEVADA INC. (CSE: SG) (OTCQB: STVGF) (FSE: 311) (the "Company" or "Stevens Gold") is pleased to announce its maiden drill program on the optioned Millennium Gold Property (the "Property") located 4.8 km northeast of Lake Havasu City in Mojave County, western Arizona. The Property hosts underexplored low sulphidation volcanic-hosted epithermal gold mineralization with geological similarities in style of mineralization and alteration to other nearby epithermal gold deposits including the Castle Mountain Mine and the Moss Mine.
The drill program will consist of up to 3,000 feet of core drilling that will test known zones of low sulphidation epithermal style gold mineralization previously intersected by historic drilling in 1998. The historic drilling was designed to test surface gold mineralization exposed in windows of alteration and mineralization visible through a dissected fan of alluvial gravels. Assays for continuous outcrop chip or panel samples collected in an east-west direction in this window totaled 158.5 meters in length and averaged 0.97 g/t gold and 5.71 g/t silver. An intersecting north-south panel of samples in the same area reported an interval of 140.2 meters in length averaging 1.12 g/t gold and 5.65 g/t silver. A higher grade 97.5 m section was defined within the north-south panel which graded 1.51 g/t gold and 8.13 g/t silver. In historic drilling five of eight percussion holes drilled by a junior exploration company reported gold assays from altered and mineralized rhyolite and basalt intersections including 0.6 g/t gold over 33 meters.
The Company has submitted its application for a drill permit to the Arizona State Lands Department and we are awaiting their review and approval.
Over the next several months the Company will initiate geological mapping and sampling of select high priority targets exposed on the property and innovative soil geochemical surveys in areas where these targets are covered by overburden. Significant assay results will be targeted for geophysical surveys and drilling.
The Company is not aware of any legal, political, environmental, or other risks that could materially affect the potential development of the project.
The Technical Report was prepared by Dr. Mark Fedikow, P.Geo., of Mount Morgan Resources Ltd. Dr. Fedikow is independent of Stevens Gold Nevada Inc., is a "Qualified Person" as defined by NI 43-101 and has reviewed and approved all technical information in this release.
About Stevens Gold
Stevens Gold (CSE: SG) (OTCQB: STVGF) (FSE: 311) is engaged in the business of mineral exploration and the acquisition of mineral property assets in North America. Stevens Gold is exploring the optioned Millennium Gold property in Arizona. The Millennium Gold property consists of three State mineral leases totaling 1,920 acres and is in the general vicinity of the Oatman mining district where over 2 million ounces of bonanza-grade gold has been discovered and where Equinox's Castle Mountain open pit gold mine is located, please see the Technical Report filed on SEDAR for more information.
ON BEHALF OF STEVENS GOLD NEVADA INC.
CEO, President, Director & Secretary
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities. In addition, the securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United States or to or for the benefit or account of U.S. persons, absent such registration or an applicable exemption from such registration requirements.
This press release includes forward-looking information within the meaning of Canadian securities legislation, concerning the business of Stevens Gold. Forward-looking information is based on certain key expectations and assumptions made by the management of Stevens Gold. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) the drill program will be as described, (b) drill permit will be approved, (c) the Company will initiate the exploration work as described and (d) significant assay results will be targeted for geophysical surveys and drilling. Although Stevens Gold believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Stevens Gold can give no assurance that they will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking statements.
Actual results may vary from the forward-looking information in this news release due to certain material risk factors described in the Corporation's Annual Information Form under the heading "Risk Factors" and the failure to complete the Offering on the terms set forth herein in a timely manner or at all, the risk that regulatory approvals will not be received and the risk that changing circumstances will result in the proceeds being used in a manner other than as set forth herein. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.
The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74145