Makara Commences Field Work at Rude Creek Gold Project, Yukon
VANCOUVER, June 22, 2020 - Makara Mining Corp. (CSE:MAKA)(FSE:MKO)(OTC PINK:MAKAF) ("Makara" or the "Company") is pleased to announce that it has begun mobilizing crews to begin field work on the Rude Creek Gold Project ("Rude Creek" or the "Project") in the White Gold region of the Yukon, Canada. Field work in 2020 will consist of soil sampling and ground geophysics followed by reverse-circulation (RC) drilling.
- Rude Creek consists of two key prospects - Trombley and Northeast anomalies
- Field work this summer will focus on the Northeast anomaly
- Follow-up work in 2020 will consist of a detailed soil sampling and ground geophysical survey centred over last year's successful drilling
- Reverse-circulation drilling is expected to be conducted later this year, based on the results of the above detailed soil and geophysical work
Details on the Rude Creek Exploration Program
The Rude Creek Property totals 4,157 hectares in area and is located in west-central Yukon, approximately 160 km south of Dawson City and 135 km northwest of Carmacks. Makara holds an option to earn a 70% interest in the Project (see news release dated May 12, 2020).
Summer and fall are generally the most attractive seasons of the year to conduct field work in the Yukon. Field crews were mobilized to the Rude Creek project area late last week. Work will include the collection of approximately 150 soil samples (in the C-horizon) over a close-spaced grid measuring 750 metres by 250 meters.
Concurrently with soil sampling, a ground geophysical survey consisting of induced polarization and resistivity ("IP/resistivity") will be conducted over the same grid. IP/resistivity is a tool commonly used in mineral exploration to detect electrical chargeability and conductivity in the sub-surface. At the Northeast anomaly, it is hoped that anomalous levels of gold in the soil will be detected and those anomalies will coincide with areas of conductivity or resistivity, suggesting the presence of gold-related faults.
A drone-based lidar (a laser-based tool used for generating very detailed topographic maps) survey may also be conducted later this summer. This tool could also greatly aid in the detection of potentially gold-bearing fault structures.
For reference, the entire Northeast soil anomaly (defined as greater than or equal to 10 ppb gold in soil) currently measures 1,600 metres east-west by 1,000 metres north-south. Therefore, the detailed grid in 2020 will represent approximately 10% of the entire Northeast soil anomaly. Sample spacing, however, will be tight (25-metre centres along lines 50 metres apart; versus 50-metre centres, 200 meters apart), enhancing the Company's ability to position drill holes in the most prospective locations.
The Northeast anomaly contains gold-in-soil as high as 366 ppb, 356 ppb and 319 ppb and remains open in all directions. Work in future years will focus on expanding the soil anomaly beyond its currently defined boundaries.
Soil sampling and ground geophysics described above will be conducted by GroundTruth Exploration Inc. ("GroundTruth"), under the direction of 0890763 B.C. Ltd., the operator and vendor of the Rude Creek Project.
For background, GroundTruth (and its predecessor) was one of the key pioneers of the concept that soil samples should be collected from the C-horizon (as opposed to the shallower B-horizon) in order to most effectively explore for gold in the unglaciated terranes of the Yukon. Sampling of the C-horizon was pivotal in the success of gold exploration in the Yukon since the late 1990s, especially at the Coffee Creek and White Gold (Golden Saddle) discoveries where the GroundTruth team used C-horizon soils as a prime targeting tool.
To be effective, every element of the sampling operation must be meticulously planned, executed and monitored. Through years of experience, GroundTruth has mastered this process and has successfully scaled out to some of the largest soil sampling programs in the world. GroundTruth has standardized every element of the sampling program, from barcode scanned sample identification tags, to geo-referenced photos of every sample and sample site.
"We are very excited to begin the exploration program on this new acquisition over this coming summer and we are diligently working towards exploring and developing our portfolio of properties in the coming year," stated Grant Hendrickson, President and Chief Executive Officer. "The White Gold region is a very active gold exploration area of the Yukon, hosting Western Copper's Casino project, Newmont's Coffee Creek project and White Gold's Golden Saddle and Vertigo discoveries. Rude Creek is approximately 20 kilometres on-trend from Coffee Creek and hosts Coffee Creek style gold mineralization."
Technical information in this news release has been approved by Grant Hendrickson, P.Geo. and ‘Qualified Person' as defined under Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About the Company
Makara Mining Corp. (CSE:MAKA)(FSE:MKO)(OTC PINK:MAKAF) is a mineral exploration company focused on the acquisition, exploration and development of gold properties. The Company is based in Vancouver, B.C and holds an option over the Rude Creek Property located in the Yukon and the Kenora Gold Property located in Northwestern Ontario. Additional information about the Company is available at www.makaramining.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Director and Chief Executive Officer
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, and statements respecting the Company's anticipated exploration program at Rude Creek are "forward-looking statements." Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE: Makara Mining Corp.
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