VANCOUVER, BC / ACCESSWIRE / July 16, 2019 / New Destiny Mining Corp. (TSXV: NED), (the “Company” or “NED”) is pleased to announce that trenching, road building, drill site construction and rock chip sampling has been completed on its Treasure Mountain Silver property, located near Tulameen, B.C.
The Company’s Treasure Mountain Silver Property covers 10,700 hectares of geologically prospective ground adjacent to Nicola Mining Inc.’s Treasure Mountain Property (site of the historic Treasure Mountain Silver-Lead-Zinc mine). The Treasure Mountain Silver Property hosts at least seven gold, silver, lead, zinc and / or copper B.C. MINFILE occurrences in various regions. These include gold-quartz vein, polymetallic veins and porphyry type showings. Some of these mineral occurrences have associated historic underground workings. The Property occurs within the Intermontane Terrane, which hosts numerous porphyry copper deposits.
An initial work program of trenching and rock sampling, and access road and drill site construction has been completed at two target areas: the Superior (Lucky Todd) and Railroad Creek prospects. These areas cover copper-gold rock geochemical anomalies identified during previous work programs on the property. Work started at the Superior, where a previous sample returned 8.81 grams per tonne gold. Drill sites were prepared and a total of 60 metres of excavator trenching was competed that exposed a number of intrusive-hosted quartz veinlets mineralized with pyrite and chalcopyrite. Work then progressed to the Railroad Creek prospect, which is the site of at least 8 historic mine adits that explored copper mineralization hosted in diorite-granodiorite. Rock geochemical anomalies for copper (up to 8940 ppm Cu or 0.89% copper) were previously identified at this site. A total of 890 metres of access track/bush road were constructed, 15 metres of trenching completed, and 2 drill sites were built. A mineralized zone containing pyrite and chalcopyrite was exposed over a length of 12 metres, extending from an historic mine adit. Rock channel sampling was conducted at both sites and samples were submitted for analysis.
Photos of new trench at Lucky Todd (top) and copper mineralization from Railroad Creek (bottom).
Access road construction (top) and sampling at Railroad Creek prospect (bottom)
The next stage of exploration work will focus on the Jamie Creek area, where a number of gold vein targets have been identified, with previous sampling returning values up to 11.3 grams per tonne gold. Planned work includes re-establishing the access road, trenching and drill site construction. Drilling of selected sites at all of the prospect areas is planned to follow later in the season.
Analytical results reported above were performed by ALS Laboratories in North Vancouver, BC., which is an independent and accredited commercial laboratory. Analyses for gold were done by fire assay with AA finish on 50 gram subsamples. Analyses for copper was by four acid digestion with ICP-MS finish.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and consultant from New Destiny Mining Corp, is responsible for the technical information contained in this News Release.
ON BEHALF OF THE BOARD OF DIRECTORS
Mr Bob Krause
President
604-488-3900
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Investor Relations: |
Trevor Morrison |
604-488-3900 |
Forward Looking Information
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither 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
SOURCE: New Destiny Mining Corp.