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Goldflare Exploration Inc.: The First Drill Program On Syenite Condor Is A Success

01.02.2022  |  CNW
PIEDMONT, Feb. 1, 2022 - Goldflare Exploration Inc. (TSXV: GOFL) ("Goldflare" or "the Company") has completed a series of works to continue exploration of the Condor I discovery in late 2021. The Syenite Condor exploration project is a new exploration target associated with the Cléricy pluton located about 30 km north of the city of Rouyn-Noranda.

12 short boreholes totalling 987 meters were completed at the beginning of January immediately under the stripping area, but also in its immediate extensions to the east and north of the discovery whose results were previously published by Goldflare (see Goldflare's January 11, 2022 press release). The Company executed a limited drilling program to test some initial assumptions such as possible orientation of the gold-bearing units in order to establish the planning of the next phase of works.

Drillholes were located at varying spacing between 15 meters and 50 meters to cover a lateral extension of about 100 meters in the east-west axis and about 100 meters in the north-south axis.

OUTCROP TARGET

CDR-21-01 to CDR-21-08 drillholes, varying in length between 60 and 102 metres, were drilled from four north-south sections spaced fifteen metres apart. Drilling was planned to intercept at shallow depth the gold bearing structure identified by stripping last fall. The maximum vertical depth targeted is about 40 meters.

Those drillholes revealed the following:

  • Pyritized fractured intervals can be observed in each hole over 2 metres to 17 meters intervals. They make 20- to 60-metre-wide envelopes composed of hematized porphyritic syenite with interdigitated lamprophyre intrusions.
  • The geology is consistent with observations made on the stripped area where surface values of 1 to 10 g/t were obtained.

STEP OUT TARGET

Holes CDR-21-09 to CDR-22-12 drilled inside 50 metres northeast of the stripped area, covering a strike length of about 100 metres. The four holes, with a length of 60 to 117 meters each, were drilled following a north-east direction to find potential extensions of gold mineralization outside the stripped area.

Those drillholes revealed the following:

  • A new syenite dyke swarm was intersected over core lengths ranging from 10 to 40 meters, to a vertical depth of 20 to 60 meters. Disseminated pyrite is hosted mainly in highly hematized and micro-fractured syenite.
  • Down hole, a new ductile structure was identified at the contact between syenite dykes and a large magnetic gabbro unit. The identified structure is located less than 50 meters northeast of the Condor I surface showing.
  • Preliminary interpretation of the geology indicates that the syenite-gabbro contact is roughly south-east. The apparent width of the hematite bearing syenite dykes swarm and associated pyrite bearing intervals can be evaluated, to date, at about 150 metres.

Perspective

On the scale of the present area drilled, the current interpretation indicates the possibility of the continuity along strike of the target structure toward the northwest and south-east. To reach this goal, the company aims to better understand the relation between gold-bearing lithologies and their relations with regional structures. The Company is pleased to note the strong continuation of mineralization indicators in the drill core such as strong hematization, fracturing and pyritization, as were encountered earlier in the surface exploration works. While waiting for assays, other critical data - such as a magnetic survey by drone and a soil geochemistry survey (both carried out during 2020) - will be integrated to generate the next exploration plan.

"We're starting to better understand the potential of the Syenite Condor project, and to make connections with known gold deposits in the Abitibi region.

Rocks identified from our drilling are remarkable for a brick-red hematite alteration associated with a disseminated pyrite mineralization. Different operating mines in the Abitibi geological region have these characteristics, like the Timmins West Mine operated by Pan American Silver, and the Young Davidson Mine operated by Alamos Gold, which are both located in Ontario.

These two important deposits are mostly hosted in syenite intrusions with gold mineralization associated with disseminated pyrite and hematite alterations. These features seem to be like what we discovered at Condor I," says Ghislain Morin, President and CEO of Goldflare Exploration Inc.

The following table lists the micro-fractured and hematized syenite intervals that have characteristics favourable to the presence of gold mineralization according to surface results.

Favourable micro-fractured and hematized syenite intervals

Drilling

Position (UTM,nad83)

Best intervals based on observations

(m)

Length

(m)

Key observations

CDR-21-01

659392E-5364862N

42.0 - 51.0

61.0 - 68.0

9.0

7.0

Repetition of hematized and micro-fractured syenite. Low pyritization associated with the presence of carbonates.

CDR-21-02

653392E-5364869N

41.4 - 43.1

46.7 - 49.2

61.2 - 65.3

4.1

2.5

4.1

CDR-21-03

659377E-5364864N

36.0 - 38.5

39.7 - 42.0

46.0 - 50.4

2.5

2.3

4.4

CDR-21-04

659376E-5364865N

37.4 - 41.0

46.3 - 48.6

66.0 - 68.0

3.6

2.3

2.0

CDR-21-05

659362E-5364867N

23.9 - 27.2

40.4 - 43.5

3.3

3.1

CDR-21-06

659362E-5364859N

32.5 - 35.2

38.2 - 41.1

45.0 - 47.6

52.5 - 70.1

74.3 - 79.5

89.4 - 96.0

2.7

2.9

2.6

17.6

5.3

6.6

CDR-21-07

659408E-5364888N

26.6 - 28.4

51.5 - 53.0

1.8

1.5

Disseminated pyrite with quartz-calcite veinlets. Hosted in strongly hematized syenite.

CDR-21-08

659407E-5364882N

33.5 - 35.3

1.8

CDR-21-09

659442E-5364868N

56.0 - 73.0

17.0

Network of hematized porphyritic syenite, fractured, pyritised. Hosted in a strongly magnetic gabbro. Intersected by a fault zone from to 60 to 63 m.

CDR-21-10

659451E-5364941N

19.0 - 22.0

37.0 - 48.0

3.0

11.0

Network of hematized porphyritic syenite with fracturing and pyritization. Hosted in a strongly magnetic gabbro.

CDR-22-11

659402E-5364962N

9.5 - 12.4

18.0 - 20.0

32.5 - 35

56.8 - 59.0

2.9

2.0

2.5

2.2

Network of hematized porphyritic syenite with fracturing and pyritization. Gabbro at the lower contact.

CDR-22-12

659391E-5364881N

79.0 - 96.5m

17.5

Laminated deformation zone with pyritized quartz breccia on 2 m. Hematized and pyritized syenite intrusions to contacts.

Note: Intervals are presented as drilled lengths.

The technical information contained in this press release has been reviewed by Martin Demers, P.Geo. (ogq No 770), consultant for Goldflare Exploration and qualified person under National Instrument 43-101 Respecting Disclosure of Mineral Projects.

The TSX Venture Exchange and its regulatory service provider (as defined by the TSX Venture Exchange rules) cannot be held responsible for the accuracy or veracity of this press release.

SOURCE Goldflare Exploration Inc.



Contact
Ghislain Morin, CEO, 819-354-9439, ghislainmorin@goldflare.ca; Serge Roy, Chairman of the Board, 819-856-8435, sergeroy@goldflare.ca

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