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Goldflare Exploration Inc.: Drilling Follow-up Planned On 2-km-long Gold Trend

16.03.2022  |  CNW
PIEDMONT, March 16, 2022 - Goldflare Exploration Inc. (TSXV: GOFL) ("Goldflare" or "the Company") is actively working on the next drilling plan aiming to extend Condor I, the new discovery on its Syenite Condor property, located about 30 km north-east of Rouyn-Noranda (Quebec).

Last Exploration Campaign Highlights

  • A new gold system was identified along the contact with the Cléricy syenite intrusion. The mineralization shows a porphyritic style with dense fractures network. Gold is associated with minor disseminated pyrite.
  • The gold anomaly, with an average thickness of about 40 metres, was intersected at shallow depth, going from surface down to 70 vertical metres. Nine over twelve holes returned gold intervals (see Goldflare's March 3, 2022, press release). The drilled grid covered a strike length of about 100 metres. The best result received was 1.0 g/t over 7 metres in hole CDR-22-10.
  • The new gold trend is blind by the overburden coverage. Two-kilometre-long strong geophysical signature could be associated to the gold signal. The gold system seems to follow a strong magnetic contrast explained by mafic ultramafic rocks external to the Clericy pluton, which can be traced for over 2 km following a north-to-north-west orientation, using aerial stereo photos.

Next Phase In Planning

The Company is evaluating the possibility to move forward with an extensive drill program of 5,000 metres in approximately 35 holes, located along the targeted two-kilometre trend. The chosen approach will imply short holes of about 150 metres, whose exact locations and spacing remain to be evaluated.

"Condor I is a new blind discovery in the Abitibi Belt, in which chance played a big role. The first mineralized rock picked in the area originated from the surface glacial sediment. We were very quickly successful in finding a source, first by trenching and then, by drilling, without spending much. What lies ahead along this two-kilometre-long anomaly can be very exciting. Over the next few weeks, we will concentrate our resources on drill-planning to ensure success," says Ghislain Morin, President and CEO.

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 Standard 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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