Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the
“Company”) is pleased to announce that it has completed the
summer field mapping and sampling program on its Kirkland Lake West
(“KLW”) and Kirkland Lake Central (“KLC”) claim groups located in
the Kirkland Lake gold camp (Figure 1). Work this summer comprised
mapping and collecting 239 grab samples across the KLW and KLC
claim groups over 45 field days by a two-person team. The work
complements the heliborne geophysical survey recently completed
(See September 8, 2022 news release). To date, the best assay
returned from a bedrock grab sample is 34.7 g/t Au on the western
side of the KLW property. Additional assay results are pending.
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the full release here:
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Figure 1. Warrior Gold’s land position in
the Kirkland Lake gold camp (map from DigiData/EarthLabs). (Photo:
Business Wire)
“We are pleased with the encouraging results from our summer
field program on the newly acquired KLW and KLC claim groups and we
look forward to receiving the remaining sample analyses. Once
completed, our exploration team will combine all data with the
geology and the structural interpretation generated by the recent
heliborne survey to support targeting for our next exploration
program,” stated Danièle Spethmann, CEO of Warrior Gold, who added,
“The Abitibi is a prolific gold belt and the opportunity for a
discovery is made more probable with the sound scientific approach
to our exploration efforts.”
The KLW and KLC claim groups comprise a land package totaling
17,176 hectares. Combined with the Company’s flagship
Goodfish-Kirana claim group (4,368 hectares), this makes Warrior
Gold the second largest mineral claims landholder (~21,500
hectares) in the Kirkland Lake gold camp.
KLW Claim Group
Mapping and sampling concentrated on the southern half of the
claim group where historical mineral occurrences and trenches were
recorded in previous government assessment files dating from 1965
onwards. These areas were re-examined and sampled to understand
mineralizing controls and the broader geological environment. On
the far western edge of the KLW claim group, anomalous gold was
identified in a broad two-kilometre-long NNW-SSE trend, parallel to
regional structures. A bedrock grab sample of a sheared and
mineralized quartz vein returned an assay of 34.7g/t Au. The
location of the grab sample is provided in Figure 2. Five
additional grab samples from this area returned anomalous gold
values ranging from 1.35 g/t Au to 21.6 g/t Au. Assays are pending
for 26 samples.
KLC Claim Group
The KLC claim group transected by the Kirkland Lake Fault, which
is an extension of the Main Break, is host to seven historical gold
mines that produced over 700 tonnes of gold (21.875 million ounces
over the past 100 years1).
Two other prominent northeast-trending deformation zones (DZ)
transect the claim group, namely the Misema DZ and the Mulven DZ.
The Victoria Creek gold deposit (along the Victoria Creek DZ) lies
just 250 metres south of the southern boundary of the KLC claim
group.
Sampling and mapping efforts during the summer concentrated
along the above-mentioned faults and deformation zones. Glacial
cover is thicker within large areas of the KLC, so the recent
high-resolution LiDAR survey was key to identifying areas of
outcrop exposure. Highlights include quartz veins with tourmaline
and carbonate within a strongly foliated and sericitized feldspar
porphyry with 1% fine pyrite observed along the Kirkland Lake
Fault. Assay results are pending. Additional sites with favorable
gold mineralization in deformed and sheared lithologies were also
sampled throughout the claim group with results pending.
Heliborne Geophysical
Survey
A heliborne high-resolution magnetic, VLF and LiDAR survey was
recently completed by EarthLabs (formerly Goldspot Discoveries).
Preliminary interpretation of the high-resolution magnetic data
emphasized structural features such as deformation zones and
lithological contacts where reconnaissance ground-truthing and
sampling were completed (Figure 3). This survey information will be
critical to support targeting efforts for next winter’s drill
program.
QP Statement
The technical information contained in this news release has
been approved by Mike Kilbourne, P.Geo. who is a Qualified Person
as defined in National Instrument 43-101, Standards of Disclosure
for Mineral Projects.
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange-listed company that has
consolidated a significant and prospective land package in the
Kirkland Lake Gold Camp in Ontario, Canada. The properties are
hosted in the Abitibi Greenstone Belt, one of the world’s
best-endowed greenstone belts with +200 million ounces of gold
produced to date2. The properties are host to regional and
property-scale mineralized structures that are second order
structures off the Larder Lake Cadillac Deformation Zone – LLCDZ –
the regional structure in the belt known to be spatially associated
with the gold mines hosted in the camp.
The properties assembled include: the 100%-owned
Goodfish-Kirana, the Arnold property and the recently optioned KL
West (KLW) and KL Central (KLC). Warrior Gold’s land position in
the Kirkland Lake Gold Camp comprises ~ 21,500 hectares, over 480
claims and 29 patented claims and ranks the Company as one of the
largest landholders in the Kirkland Lake region.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements: This press release contains
forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", “anticipate", "estimate", "may",
"will", "would", "potential", "proposed" and other similar words,
or statements that certain events or conditions "may" or "will"
occur. The forward-looking statements are based on certain key
expectations and assumptions made by the Company. Although Warrior
Gold believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because
Warrior Gold can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. In
addition to other risks that may affect the forward-looking
statements in this press release are those set out in the Company’s
Management Discussion and Analysis of the financial condition and
results of operations for the year ended March 31, 2022 and the
first quarter ended June 30, 2022 which are available at
www.sedar.com. The forward-looking statements contained in this
press release are made as of the date hereof and Warrior Gold
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.
This press release does not constitute an offer, invitation or
recommendation to subscribe for or purchase any securities and
neither this press release nor anything contained in it shall form
the basis of any contract or commitment. In particular, this press
release does not constitute an offer to sell, or a solicitation of
an offer to buy, securities in the United States, or in any other
jurisdiction in which such an offer would be illegal.
1 Natural Resources Canada and Ontario Geological Survey 2015.
Mining heritage tour, Kirkland Lake: A century of mining the “Mile
of Gold”; GeoTours Northern Ontario series.
2 2020 Mineral Production in Canada, Government of Canada,
Minerals and Metals Statistics Division, 2022-03-10,
https://mmsd.nrcan-rncan.gc.ca/PDF/MIS2020TableG01a-en.pdf
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221019005439/en/
For additional information:
Danièle Spethmann, P.Geo. President & CEO Warrior Gold Inc.
+1 647 344-3433 dspethmann@warriorgoldinc.com
Warrior Gold (TSXV:WAR)
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