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Trailbreaker Resources Expands Multiple High Grade Gold Zones at Atsutla With Phase 2 Sampling and Submits Drilling Permit Application for 2022

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  • APRAF

VANCOUVER, British Columbia, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the results from the Phase 2 exploration at its 100%-owned Atsutla Gold Project located in northern British Columbia. Assay results indicate widespread high-grade gold values across all previously defined zones as well as the expansion of known gold mineralization at the Highlands zone. Assay results from the Phase 2 program include:

  • HIGHLANDS ZONE: Gold values in excess of 100 g/t gold (Au) have been returned from a 750 m x 600 m area with values as high as 222.05 g/t (6.48 oz/ton) Au at the newly discovered visible gold showing and 165.4 g/t (4.82 oz/ton) Au with 1,894 g/t (55.25 oz/ton) silver (Ag) from an area 430 meters to the south.

  • NEW – CHRISTMAS CREEK ZONE: High grade mineralization has been discovered 2.0 km east of the Highlands zone. A 30 cm-wide galena-rich quartz vein in bedrock returned assay values up to 102 g/t Au and 524 g/t Ag.

  • WILLIE JACK TREND: The source of the 1.2 km-long Willie Jack gold-in-soil trend has been confirmed. A series of metasediment-hosted quartz veins along the boundary of the Christmas Creek batholith have returned assay values up to 9.89 g/t Au from in-situ bedrock and proximal float. The veins have been traced for at least 700 meters.

  • SWAN ZONE: High-grade gold has been discovered at the Swan zone; a 900 m x 700 m Au-Ag-arsenic (As)-antimony (Sb)-copper (Cu)-molybdenum (Mo)-lead (Pb) soil anomaly, with soil samples assaying up to 406 ppb Au. Grab samples from bedrock, proximal float, and talus have returned grades up to 11.5 g/t Au in bedrock and 175 g/t Ag in float.

Daithi Mac Gearailt, CEO of Trailbreaker, commented: “We have now proved the existence of widespread, high-grade gold across all explored areas of the Atsutla Gold project. The spatial extent and high-grade nature of mineralization found at surface at the Highlands and Christmas zones has again exceeded our expectations. Confirming the bedrock source of the extensive gold-in-soil anomalies at the Willie Jack and Swan zones has moved this project into the drill planning stage. We are very excited for next season!”

With the addition of recent staking, the Atsutla Gold Project now covers 37,727 hectares and spans 36 kilometers. The project area is located 70 km south of the Yukon-British Columbia border and 130 km northwest of the community of Dease Lake, BC.

The 2021 exploration program involved the collection of 2,100 soil samples and 532 prospecting rock grab samples, as well as geological mapping and an airborne magnetic and radiometric survey. See linked map for zone and sample locations: Map 1 – Atsutla Gold Highlights.

Highlands zone – Visible gold in an extensive vein system

The Highlands zone is located in the northwestern area of the Atsutla Gold Project. Results from Phase 1 include multiple high-grade grab samples, the highest being 630.04 g/t (18.38 oz/ton) Au with 531.75 g/t (15.51 oz/ton) Ag. Also, a new visible gold zone was discovered 550 m west of these samples (see September 13, 2021 news release).

Phase 2 analysis of the visible gold zone yielded values up to 222.1 g/t Au and 55 g/t Ag. More significantly, prospecting in the vicinity of the visible gold showing revealed an extensive gossanous zone hosting one or more 20-50 cm-thick quartz veins. This vein system was traced across a 700 m x400 m area and yielded numerous high-grade gold values from grab samples of bedrock and proximal float (see Map 2 – Highlands zone).

The vein system was also identified at two other locations at opposite ends of the gossan unit:

  • An in-situ quartz vein showing, located 165m north of the initial visible gold discovery, returned values as high as 112.4 g/t Au and 75 g/t Ag. This vein was traced along a 20-meter strike length, is 20-40 cm thick, and displays abundant arsenopyrite, pyrite, and galena mineralization

  • A zone of in-situ mineralized quartz veining 430 meters south of the visible gold showing returned values up to 165.4 g/t Au with 1,894 g/t Ag and 125.0 g/t Au with 1,630 g/t Ag.

  • In total, these high-grade (>100 g/t Au) vein showings occur across a 750 m x 600 m area.

First-pass prospecting to the northeast of the Highlands zone area yielded a sample assaying 9.9 g/t Au, located 2.5 km northeast of the visible gold showing.

Christmas Creek zone – New high-grade gold discoveries in bedrock

The Christmas Creek zone is located across the Christmas Creek valley, ~2 km east of the Highlands zone (see Map 3). To date, very limited exploration has been conducted in this area. Phase 2 prospecting at the Christmas Creek zone discovered a 30 cm-wide galena-rich quartz vein in bedrock which returned values up to 102 g/t Au and 524 g/t Ag. A sample of quartz float material 170 meters northwest from the bedrock samples returned an assay of 50.6 g/t Au and 85 g/t Ag.

Willie Jack trend – Bedrock source of 1.25-kilometer-long Au-As-Ag-Mo-Te soil anomaly confirmed

Phase 2 prospecting has confirmed the source of the extensive gold-in-soil anomaly (termed the Willie Jack trend) reported in the September 13, 2021 news release. The Willie Jack trend occurs along the southwestern margin of the early Jurassic Christmas Creek Batholith, where it lies in contact with older, Permian Kedahda Formation metasediments. The trend is at least 1.25 kilometers long, and falls within a broader anomalous gold trend of 6.5 kilometers. It is characterized by anomalous Au-As-Ag-Mo-tellurium (Te) soil sample values, with soil sample assays up to 3,767 ppb (3.77 g/t) Au. Sampling of quartz float and quartz in metasedimentary bedrock indicate that the anomalous gold-in-soil trend originates from a series of metasediment-hosted, northwest-trending auriferous quartz veins.

Phase 2 prospecting along this trend involved follow-up on the higher-grade soil samples. Multiple quartz veins were uncovered, both as in-situ bedrock, and as proximal float. The highest grade returned from the trend is 9.89 g/t Au, from an in-situ sample of quartz vein material. Rock samples along trend 700 meters to the southeast returned assay values up to 2.01 g/t Au (see Map 4 – Willie Jack trend). Prospecting an additional 4.1 km to the southeast has uncovered additional quartz veining, with assay values up to 1.56 g/t Au. A chip sample across siliceous quartzite in this area yielded 0.35 g/t Au over 6.5m.

Swan zone – New high-grade gold discoveries within an intrusive-hosted 900m x 700m Au-As-Ag-Sb-Cu-Mo-Pb soil anomaly

The Phase 2 program has also led to the discovery of high-grade gold at the Swan zone, located in the eastern area of the Atsutla claim block. Rock sample assays returned grades up to 11.5 g/t Au and 175 g/t Ag.

The Swan zone area was staked to cover a historical molybdenum-copper porphyry prospect that was discovered in the late 1960s and explored periodically since then. Despite collection of more than 500 soil and surface rock samples, and completion of almost 1,000 meters of shallow diamond drilling, no geochemical analysis for gold was ever completed before Trailbreaker staked the area.

The initial Phase 1 program at the Swan zone involved the completion of a soil sampling grid adjacent to the historical drilling on a large gossanous ridge. Assay results from the soil sampling revealed a ~900 m x 700 m Au-As-Ag-Sb-Cu-Mo-Pb soil anomaly, with soil samples assaying up to 406 ppb Au. The core of the soil anomaly is located ~1.2km east of the historical drilling. The anomaly occurs within a leucogranite-porphyry unit of the Upper Cretaceous Glundebery Batholith.

Phase 2 involved one day of follow-up work in this area and uncovered significant arsenopyrite mineralization in bedrock, proximal float, and talus float. Rock samples taken from a mid-slope outcrop returned grades of 11.5 g/t Au with 16.8 g/t Ag, and 8.39 g/t Au with 55.8 g/t Ag (see Map 5 – Swan zone). A sample of proximal float 200 m southeast of this outcrop yielded grades of 7.6 g/t Au with 175 g/t Ag. Numerous other samples assayed >1 g/t Au in a 500 m x 200 m area within the soil anomaly.

Airborne survey

An airborne magnetic and radiometric survey has recently been completed at the Atsutla Gold project. The survey covered the Highlands and Christmas Creek zones, as well as the Willie Jack trend. Trailbreaker is currently reviewing and compiling the data. Maps and data will be presented in an upcoming news release.

Drill Permitting

A permit for diamond drilling at the Atsutla Gold project has been submitted to the British Columbia Ministry of Mines.

Message from the President

“Once again the exploration team has come through and surpassed expectations at the Atsutla project. With a solid geochemical database and new geophysical data on our hands, we are carefully determining the next steps for the project. While properly evaluating these high-grade gold showings is our focus, the majority of the claim block is untouched ground, and one can only imagine what remains to be found at Atsutla.”

ON BEHALF OF THE BOARD

Daithi Mac Gearailt
President and Chief Executive Officer

OTHER

Sample analysis and assaying for all of Trailbreaker’s projects have been conducted by Bureau Veritas Mineral Laboratories Canada in Vancouver, BC, which is an ISO-17025 accredited laboratory. Rock samples were crushed, split and pulverized to a 250 g pulp passing through a 200 mesh screen (prep code PRP70-250). For gold analysis, a 50 g split underwent fire assay with an ICP-ES finish (FA350-Au). Samples assaying >10 ppm Au were re-analyzed with a gravimetric finish (FA550-Au). Samples also underwent 37-element analysis involving aqua regia digestion and ICP-ES/MS analysis (AQ200). Soil samples were sieved to 80 mesh (prep code SS80) and underwent a 37-element analysis involving aqua regia digestion and ICP-ES/MS analysis (AQ201).

Rigorous quality assurance procedures are in place regarding sample collection, chain of custody and data entry. Certified QA/QC standard and blank reference samples are routinely inserted into the sample stream to ensure integrity of the assay process. The reader is cautioned that grab samples are single rock samples typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of metal values. These do not necessarily provide an accurate representation of the tenor of the targeted zone sampled.

Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.

For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.

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 release.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information 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 Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.


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