Go Metals Exploration Update
Vancouver, January 5, 2021 - Go Metals Corp. (CSE: GOCO) ("Go Metals" and/or the "Company") is pleased to provide an update regarding the exploration on both its 100% owned Monster IOCG project in the traditional territory of the Tr'ondëk Hwëch'in First Nation and HSP Nickel project in the traditional territory of the First Nation of Ekuanitshit .
Monster Cu-Co-Ag-Au claim, Yukon:
- Reconnaissance RC drilling confirms increasing copper and alteration intensity near Bloom target
- Class 3 permit application submitted for expanded diamond drill program
- Artificial Intelligence targeting study in progress with Windfall Geotek
HSP Ni-Cu-PGE claim, Quebec:
- 3km long area prospective for Ni-PGE mineralization on HSP discovered
- Drill targeting in progress using the recent 55 km2 TDEM survey
- Fully funded for 2021 exploration program
Updated corporate presentation
The company has updated its corporate presentation with exploration results and plans for 2021.
Monster Drill Results
Final drill results of hole MO20-01, 02 and 03 have been delivered from the lab. Hole MO20-01 targeted the main Bouger gravity anomaly on the Bloom target. Equipment issues caused the hole to be limited to 100m in depth. The hole encountered a large clast of mud-sandstone until the end of the hole. Barium concentrations in the hole are indicative of barite which is an important IOCG indicator mineral. The barium content increased towards the end of the hole. The gravity target itself was not intersected and is expected to be at a depth of 150m.
Hole MO20-02 was drilled from the same location as MO20-01 but angled 60 degrees to drill beyond the large mud-sandstone clast. This hole yielded the best results. Minor copper mineralization was intersected at the start of the hole (see table below) and higher-grade copper towards the end of the hole in an interval of 1.5m at 0.72% Cu. The alteration intensity towards the end of the hole increased and the last 4.5m of the hole contained over 0.2% Barium.
Hole MO20-03 was targeted at a coincident gravity, magnetic and IP anomaly but had to be abandoned due to ground conditions at 70m. The hole encountered several cavities related to a repeating fault set prior to the end of the hole. The anomaly itself was not intersected.
MO20-04 & 5
Hole MO20-04 and MO20-05 were targeted on geophysical anomalies on the Beast target. Hole MO20-04 intersected its intended target, a gravity anomaly, however the anomaly was caused by a barren intrusive. Hole MO20-05 did not intersect its target because of equipment failure.
To view an enhanced version of Table 1, please visit:
Jacob Verbaas, VP Exploration, comments on the recent drilling: "The program was a success in de-risking the Bloom target to a point where we now believe we are ready for a set of deeper diamond holes. The combined barium and gold results are indicative of a large hydrothermal system with a chemical signature similar to that of the IOCG hydrothermal systems we are using as analogues. We have barely scratched the surface when it comes to our targets. The results, particularly from hole 2, indicate that there is high-grade copper in the targeted hydrothermal system and we look forward to drilling deeper holes.
Another positive result from the 2020 drill program was detailed analysis of a key 250m long outcrop. The outcrop occurs directly over the Bloom target on the intersection of east-west and north-south directed faults. Originally, we interpreted the banding of this outcrop as a sedimentary banding, and so we had dismissed it as a likely discontinuous clast in the host breccias. Further analysis indicates the banding is in fact hydrothermal and provides a great window to the target at surface."
Go Metals has initiated an AI targeting study for its Monster project which uses geophysical, geological and geochemical data to enhance the potential for future success. The company expects results of the AI targeting in February. Windfall Geotek is a leader in mining AI technology and advanced target identification.
HSP Ni-Cu-PGE claim, Quebec
Further processing on the HSP claim in Quebec has highlighted a fault-controlled corridor of conductors in an area with historical nickel, platinum and palladium mineralization. The fault controlled corridor is 3km in strike length. Historical data implies mineralization over a 500m strike length which remains open. The area is considered a priority target for 2021. The 2021 work program is fully financed.
Samples were crushed and analysed according to packages PRP-910, FAS-111 (Fire assay) and ICP-230 (4-acid digestion ICP) at MS Analytical in Langley. The lab maintains rigorous QA/QC protocols. In addition to the protocols by the lab Go Metals added field duplicates every 25th sample. The field duplicates indicate a larger error at zones of copper enrichment (up to 15% error at >300 ppm copper) which is likely due to the presence of discontinuous pods, blebs and veins of copper sulphides.
Adrian Smith, P.Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented within this news release.
About Go Metals:
The company approach is to rely on local talent and respect local territories while maintaining upside exposure to new discoveries. Go Metals furthers Canadian energy metal projects to help meet the demand for a battery powered future.
For further information, please contact:
Scott Sheldon, President
This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71419