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Antler Gold Announces Discovery of the Kranzberg Fault Zone

14.05.2020  |  Newsfile

Halifax, May 14, 2020 - Antler Gold Inc. (TSXV: ANTL) ("Antler" or the "Company"), is pleased to announce the delineation of a previously unrecognized significant fault zone now named the Kranzberg Fault Zone. This fault zone, oriented WSW-ENE, is parallel to and shares many similarities to the Karibib Fault Zone which hosts Osino's Twin Hills Project. The associated Kranzberg Gold Trend stretches across Antler's Central Project from the Kranzberg Dome, in the southwest, through Antler's EPL 6162, 7261 (under option) and 7854 (under application) and around Antler's Etiro Dome property (EPL 6550 under option) in the northeast (see map below). In total, Antler holds approximately 20 km of strike length along this gold trend.

The Kranzberg Gold Trend contains a number of historical smaller scale mines and prospects including Onguati, Brown Mountain and Western Workings (all previously worked during the 1950's and 1960's). In addition, a number of significant gold in soil and gold in rock anomalies have been historically defined. These gold anomalies are located along the Kranzberg Fault Zone within Antler's EPLs 7261, 6162 and 6550 and contain gold in soil assays of up to 7000 ppb gold and gold in rock assays of up to 80 g/t gold, all against a background of less than 5 ppb gold. Note these results are historic and have not been verified by Antler. The historic mines, prospects and soil anomalies occur in association with folds; faults; fault splays and jogs; and late to post tectonic leucogranite intrusions, all typical of fertile orogenic belts.


Figure 1

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Dan Whittaker, President and CEO of Antler commented, "We're pleased to have worked with RES on the discovery of the Kranzberg Fault Zone and its associated gold trend. The recognition of this fault zone adds an essential element necessary for the formation of orogenic gold deposits - namely a fluid conduit - and lends new significance to the historic exploration results. We expect our ongoing compilation, digitization and reinterpretation of three decades of historical data taking into account the Kranzberg Fault Zone to provide several additional targets at various phases of exploration. As a result, we are currently planning our next phase of work which we intend to include drilling on both the Central and Western Projects."

The Kranzberg Fault Zone is a series of ENE and NNE trending thrusts and faults that can be traced for over 50 km and may have developed by reactivation of the larger Omaruru, Onguati and Abbabis Lineaments during the transpressional D3 / D4 Damaran deformation. Structures associated with the D3 / D4 event have been shown to be important conduits for hydrothermal fluids and highly prospective for gold mineralisation, as demonstrated by the Navachab Gold Mine and Osino's Twin Hills Project.

The Kranzberg Gold Trend is located in the saddle region of a moderate-to-gently inclined doubly plunging anticline with associated large-scale, deep penetrating, crustal structures of the Kranzberg Fault Zone. Interpretation and delineation of this fault zone was only made possible by Antler's geophysicists through reprocessing of the Government regional aeromagnetic data taking cognisance of the negative impact of magnetic attenuation due to increased survey ground clearance required over the Erongo Mountains in the north of the Central Project. The Erongo Mountains are a post- Karoo aged volcanic caldera that tower 1,000 meters above the flatter plains of the Central Project. Downward continuing and reprocessing the data to mitigate the impact of non-ideal survey heights in conjunction with the initial field visit has resulted in the identification of this previously unrecognized but significant Kranzberg Fault Zone.

Qualified Person

David Evans, P.Geo., consulting geologist, is the qualified person as defined by NI 43-101 guidelines and has reviewed and approved this release.

About Antler Gold Inc.

Antler Gold Inc. (TSXV: ANTL) is a Canadian company, focused on the acquisition and exploration of gold projects in Namibia. Antler's Erongo Gold Project covers areas of the Navachab-Damara Belt, which is highly prospective for gold, and overlies similar lithologies and structures as the known Namibian Gold mines (QKR's Navachab and B2 Golds' Otjikoto) as well as the recent Twin Hills discovery. Antler's total license position now comprises four licenses (EPL 5455, 6162, 7261 and 6550) under option and a further five (EPL 7854, 7930, 7960, 8010 and 8042) under application, for a total landholding of approximately 83,576ha (835.8km2). Antler is currently focusing its efforts on advancing its Erongo Gold Project, which is located approximately 130 km north-west of Namibia's capital city Windhoek and benefits from Namibia's well-established infrastructure of paved highways, railway, power and water. Namibia is mining-friendly and generally regarded as one of the continent's most politically and socially stable jurisdictions. Antler continues to evaluate new ground with a view to expanding its Namibian portfolio.

Further details are available on the Company's website at www.antlergold.com

Cautionary Statements

This press release may contain forward-looking information, such as statements regarding the completion of the transaction, including acquisition of EPL 6550 or any other EPLs in Namibia by Antler and future plans and objectives of Antler. This information is based on current expectations and assumptions (including assumptions in connection with the continuance of the applicable company as a going concern and general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict, including risks relating to the ability to satisfy the conditions to completion of the transaction. Actual results may differ materially from results suggested in any forward-looking information. Antler assumes no obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in filings made by Antler with Canadian securities regulators, copies of which are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact

Daniel Whittaker, President and CEO of Antler Gold Inc., at (902) 488-4700.

Or

Christopher Drysdale, Corporate Development of Antler Gold Inc., at +27 72-507-7560

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55849


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