Ready Set Gold Provides Update on Phase 1 Drilling Northshore Gold Project
Toronto, Ontario--(Newsfile Corp. - February 12, 2021) - Ready Set Gold Corp. (CSE: RDY) (FSE: 0MZ) ("Ready Set Gold" or the "Company") is pleased to provide an update on its ongoing drilling program at the Northshore Gold Project located in the Hemlo-Schreiber Greenstone Belt near the town of Schreiber, Ontario.
The 3,000 m, Phase 1 diamond drilling program, as previously announced on January 26, 2021, is approaching 50% completed, and is progressing as planned. Core logging and sampling is underway with samples from five holes sent to SGS Laboratories in Sudbury for analysis. Samples for QA/QC included Certified Reference Materials and blanks. Wide, multiple intervals of pervasive deformation / alteration hosting pyritic mineralization in stock-work, brecciated and fracture-controlled quartz-carbonate vein networks in felsic intrusive and volcanic units, similar to gold mineralized zones drilled by previous operators along strike to the east and west, have been intersected. The Company expects its first assay results in the next two to three weeks and is actively re-interpreting and modeling the mineralized zones as drilling progresses.
The drilling has focussed on key areas with low drill density, or no drilling, in the Afric gold zone, prospective for higher grade gold mineralization with the drill holes oriented to better understand the structural / geological controls on the gold mineralization.
The drill data will be added to the Company's data base, which already includes information on over 200 diamond drill holes (approximately 40,000 m of core), 500 m of trench mapping and sampling, geological/structural mapping and sampling and ground and airborne geophysics. This information will allow Ready Set Gold to gain more confidence in its geological model and to design additional drill programs.
Peter M. 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.
About Ready Set Gold Corp.
Ready Set Gold is a precious metals exploration company listed on the Canadian Securities Exchange under symbol RDY and on the Boerse Frankfurt in Europe as 0MZ. The Company has consolidated and now owns a 100-per-cent interest in the Northshore gold property located in the Schreiber-Hemlo greenstone belt near Thunder Bay, Ontario. For further information on the property please see the technical report on the Northshore gold property, Thunder Bay mining division, Priske township, Ontario, Canada, prepared for Ready Set Gold (formerly Omni Commerce Corp.) dated Nov. 20, 2020, with an effective date of July 10, 2020, on the Company's profile at www.sedar.com.
The Company also owns a 100-per-cent interest in two separate claim blocks totalling 4,453 hectares known as the Hemlo Eastern Flanks project and holds an option to acquire a 100-per-cent undivided interest in a continuous claim block totalling 1,634 hectares comprising the Emmons Peak project, located 50 kilometres south of Dryden, Ontario, 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) 453-4708
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" within the meaning of Canadian Securities laws, including that the Company anticipates its first assay results from the Phase 1 drill program in the next two to three weeks and the expectation that information from the Phase 1 drill program will allow Ready Set Gold to gain more confidence in its geological model and to design additional drill programs. 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.
Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release including that the Company will complete the Phase 1 drilling program and on the timeline as anticipated by management and that information from the Phase 1 drill program will allow Ready Set Gold to gain more confidence in its geological model and to design additional drill programs. 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; the Company will not complete the Phase 1 drilling program on the timeline as anticipated by management or at all and therefore the Company will not gain more confidence in its geological model and will be unable to design additional drill programs and other assumptions, risks and uncertainties.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that is incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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