Yahoo Finance STLLR Gold Intersects 1.97 g/t Au over 41.5 m at the Colomac Main Deposit and Wide Zones of Mineralization Near Windjammer Central
Toronto, Ontario--(Newsfile Corp. - June 13, 2024) - STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) ("STLLR" or the "Company") announces assay results from the exploration drilling at the Colomac Gold Project in the Northwest Territories and at the Tower Gold Project in the Timmins Mining Camp in Ontario.
Table 1: 2024 Exploration Drilling Highlights - Colomac Main Deposit, Windjammer Central, and Windjammer South (See Figures 1-8):
Zone | Hole ID | Assay Result |
Colomac Main | C24-01 | 1.97 g/t Au over 41.50 m (incl. 2.96 g/t Au over 21.25 m, also incl. 7.40 g/t Au over 2.55 m) |
Windjammer Central | MGH24-525 | 0.88 g/t Au over 67.35 m (incl. 1.11 g/t Au over 33.00 m) |
Windjammer Central | MGH24-523 | 1.13 g/t Au over 24.00 m within 0.63 g/t Au over 118.00 m |
Windjammer South | MGH24-509 | 6.52 g/t Au over 2.10 m |
"g/t Au": grams per tonne gold; "m": metres
Keyvan Salehi, P.Eng., MBA, President, CEO, and Director of STLLR stated: "Our exploration drilling continues to yield promising results. We intersected high-grade, coarse-gold mineralization at the Colomac Main Deposit in an area outside the estimated 2023 Colomac PEA1 pit-shell that had limited drilling data. At Windjammer Central, we intersected wide zones of mineralization in areas outside the known mineralization."
"We anticipate receiving more exploration drill assay results from the Colomac Gold Project and the Tower Gold Project in the coming weeks. Stay tuned for further updates."
Colomac Gold Project Drilling - Colomac Main Deposit (See Figures 1-5)
The Colomac Main Deposit, the primary deposit of the Colomac Gold Project, occurs in a north-south striking differentiated mafic sill, approximately 9 km long and up to 155 m wide, bounded by mafic volcanic rocks. Mineralization is predominantly free-gold spatially associated with quartz-carbonate veining and minor sulphides.
The Colomac Main Deposit has been arbitrarily divided into 6 mineralized zones along strike. Drilling in 2024 is focused on the southern-end (Zones 2.5, 3.0, & 3.5) of Colomac Main, targeting areas where there is the lack of drilling information and has the potential to intersect higher-grade, open-pit gold mineralization. Hole C24-01 targeted Zone 2.5 and intersected coarse-gold mineralization within the quartz-diorite.
Figure 1: Colomac Main - Photo #1 of Coarse-Gold Intersected by Hole C24-01 (287.3 m)
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Figure 2: Colomac Gold Project - Property Map
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Figure 3: Colomac Main - Exploration Results Map
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Figure 4: Colomac Main - Exploration Drilling Cross Section "A-B" Looking North
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Figure 5: Colomac Main - Photo #2 of Coarse-Gold Intersected by Hole C24-01 (298.4 m)
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Tower Gold Project Drilling - Golden Highway Exploration Targets (See Figures 6-8)
STLLR has identified several high-potential exploration targets in the Golden Highway area of the Tower Gold Project (See Figure 6 for the Drill Location Map). These targets are located outside of the known mineralization and drilling will test either the potential extensions of the known mineralization or areas where the geological interpretation appears favourable for new gold discoveries.
Windjammer Central
Windjammer Central is a continuation of the Windjammer Deposit located immediately north of the regional Banded Iron Formation, hosted in Timiskaming-age, clastic sediment-hosted stacked quartz veins. The mineralization is bound to the north by the mafic to ultramafic units associated with the Discovery Deposit. Hole MGH24-523 intersected broad mineralization in an area not previously drilled. Hole MGH24-525 intersected mineralization outside the 2022 Tower MRE2 block model.
Windjammer and Southwest South Limb Targets
Windjammer South and Southwest mineralization are primarily associated with the Timiskaming-age, clastic sediment-hosted stacked quartz-veins located immediately south of the regional Banded Iron Formation on the north limb of a folded basin. Drilling at Windjammer South and Southwest tested the potential for similar mineralization controls along the south limb of the basin. Initial results confirm continued gold mineralization along the primary mineralizing structures. Based on positive indications that the mineralized system continues within the southern portion of the basin, follow up work is required in the winter.
Figure 6: Tower Gold Project - Drill Location Map
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Figure 7: Windjammer Central - Exploration Results Map
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Figure 8: Windjammer Central - Exploration Drilling Cross Section "E-F" Looking Northwest
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Table 2: Exploration Drilling Intercepts
Target | Hole ID | From | To | Interval | Grade | Metal Factor |
Colomac Main | C24-01 | 271.00 | 312.50 | 41.50 | 1.97 | 81.76 |
Colomac Main | including | 274.00 | 295.25 | 21.25 | 2.96 | 62.90 |
Colomac Main | also Including | 290.50 | 293.05 | 2.55 | 7.40 | 18.87 |
Windjammer | MGH24-523 | 57.00 | 65.00 | 8.00 | 0.45 | 3.60 |
Windjammer | and | 143.00 | 146.00 | 3.00 | 0.39 | 1.17 |
Windjammer | and | 180.00 | 192.00 | 12.00 | 0.36 | 4.32 |
Windjammer | and | 355.00 | 376.00 | 21.00 | 0.68 | 14.28 |
Windjammer | including | 359.00 | 360.00 | 1.00 | 4.47 | 4.47 |
Windjammer | and | 388.00 | 506.00 | 118.00 | 0.63 | 74.34 |
Windjammer | including | 388.00 | 396.00 | 8.00 | 1.2 | 9.60 |
Windjammer | and including | 482.00 | 506.00 | 24.00 | 1.13 | 27.12 |
Windjammer | MGH24-525 | 241.00 | 283.00 | 42.00 | 0.46 | 19.32 |
Windjammer | including | 273.00 | 277.15 | 4.15 | 1.73 | 7.18 |
Windjammer | and | 311.00 | 378.35 | 67.35 | 0.88 | 59.27 |
Windjammer | including | 338.00 | 371.00 | 33.00 | 1.11 | 36.63 |
Windjammer South | MGH24-508 | 368.53 | 370.00 | 1.47 | 0.935 | 1.37 |
Windjammer South | and | 489.00 | 491.00 | 2.00 | 0.55 | 1.10 |
Windjammer South | and | 550.00 | 553.00 | 3.00 | 0.91 | 2.73 |
Windjammer South | MGH24-509 | 174.00 | 176.10 | 2.10 | 6.52 | 13.69 |
Southwest | MGH24-510 | 157.05 | 163.00 | 5.95 | 1.57 | 9.34 |
Southwest | MGH24-513 | No Significant Intervals | ||||
Southwest | MGH24-514 | 338.00 | 340.00 | 2.00 | 2.52 | 5.04 |
Southwest | MGH24-522 | 117.20 | 119.90 | 2.70 | 2.09 | 5.64 |
Note: All intercepts are calculated using a 0.30 g/t Au cut-off, a maximum of 5m internal dilution and no top cap applied. Drill intercepts are not true widths. | ||||||
Table 3: Exploration Drill Hole Details
Zone | Hole ID | Easting | Northing | Elevation | Azimuth | Inclination | End of Hole Depth (m) |
Colomac Main | C24-01 | 592031.99 | 7141821.01 | 365.00 | 270.00 | -70.60 | 369 |
Windjammer | MGH24-508 | 572508.77 | 5369998.60 | 336.38 | 50.03 | -55.08 | 699 |
Windjammer | MGH24-509 | 572722.30 | 5369945.13 | 376.95 | 50.01 | -55.17 | 510 |
Windjammer | MGH24-523 | 571675.08 | 5370366.99 | 351.06 | 29.96 | -55.03 | 507 |
Windjammer | MGH24-525 | 571883.21 | 5370658.61 | 351.87 | 30.13 | -55.03 | 489 |
Southwest | MGH24-510 | 571614.68 | 5369340.51 | 348.88 | 24.01 | -55.02 | 636 |
Southwest | MGH24-513 | 571615.05 | 5369340.12 | 349.01 | 45.09 | -55.14 | 426 |
Southwest | MGH24-514 | 571427.42 | 5368997.34 | 347.49 | 19.95 | -55.17 | 540 |
Southwest | MGH24-522 | 571780.95 | 5368995.16 | 350.87 | 30.15 | -55.04 | 642 |
Quality Control Procedures
NQ drill core is oriented and cut with half sent to ALS Laboratories Inc. (ALS) for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). ALS is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. STLLR inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates, as well as completing routine third-party check assays at Bureau Veritas Commodities Canada Ltd.
Qualified Person
John McBride, MSc., P.Geo., Vice President of Exploration for STLLR, who is the "Qualified Person" as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release.
About STLLR Gold
STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) is a Canadian gold development company actively advancing two cornerstone gold projects in Canada: The Tower Gold Project in the Timmins Mining Camp in Ontario and the Colomac Gold Project located north of Yellowknife, Northwest Territories. Each of these two projects has the potential for a long-life and large-scale operation and are surrounded by exploration land with favourable upside potential. STLLR's experienced management team, with a track record of successfully advancing projects and operating mines, is working towards rapidly advancing these projects.
Contact Us
STLLR Gold Investor Relations
+1 (416) 863-2105 | investors@stllrgold.com | www.STLLRgold.com
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the potential expansion of the known mineralization at the Tower Gold Project and Colomac Gold Project, the discovery of new gold mineralization, the timing of the release of the assay results, the goals, synergies, strategies, opportunities, profile, mineral resources and potential production, project timelines, prospective shareholding, integration and comparables to other transactions, the future financial or operating performance of STLLR and STLLR's mineral properties and project portfolios, the advancement of the Tower Gold and Colomac Gold Projects, long-life and large-scale potential of the Tower and Colomac Gold Projects and exploration upside of the land packages. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "accelerate", "add" or "additional", "advancing", "anticipates" or "does not anticipate", "appears", "believes", "can be", "conceptual", "confidence", "continue", "convert" or "conversion", "deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding" or "expansion", "expect" or "expectations", "fast-track", "forecasts", "forward", "goal", "improves", "increase", "intends", "justification", "leading", "plans", "potential" or "potentially", "pro-forma", "promise", "prospective", "prioritize", "reflects", "re-rating", "robust", "scheduled", "stronger", "suggesting" or "suggests", "support", "updating", "upside", "will be" or "will consider", "work towards", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of STLLR to be materially different from those expressed or implied by such forward-looking information, including risks associated with required regulatory approvals, the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, the ongoing wars and their effect on supply chains, environmental risks, COVID-19 and other pandemic risks, permitting timelines, capex, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the Company's Annual Information Form for the year ended December 31, 2023, available on www.sedarplus.ca. Although STLLR has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. STLLR does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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1 For more information on the Colomac Gold Project Preliminary Economic Assessment ("2023 Colomac PEA"), please refer to the NI 43-101 technical report titled "Colomac Gold Project NI 43-101 Technical Report and Preliminary Economic Assessment, Northwest Territories, Canada" dated June 9, 2023 which is available on SEDAR+ www.sedarplus.ca the Company's website (www.nighthawkgold.com).
2 For more information on the Tower Gold Project Mineral Resource Estimate ("2022 Tower MRE") and Preliminary Economic Assessment ("2022 Tower PEA") effective as of September 7, 2022, please refer to the NI 43-101 technical report titled "NI 43-101 Report & Preliminary Economic Assessment of the Tower Gold Project Northeastern Ontario, Canada" dated November 29, 2022, which is available on STLLR Gold's profile on SEDAR+ www.sedarplus.ca and www.stllrgold.com.
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