TORONTO, ON / ACCESSWIRE / June 9, 2021 / AurCrest Gold Inc. (the "Company" or "AurCrest") (TSXV:AGO) is pleased to announce preliminary observations from the ongoing inaugural diamond drilling project at the Company's Ranger Lake Gold Property, Ontario.
To date, seven (7) holes have been drilled to test overlapping Artificial Intelligence ("AI"), Spatiotemporal Geochemical Hydrocarbon ("SGH"), and structural geology interpretations in a previously unrecognized and under-explored region located approximately 10 kilometres east of Balmertown, Ontario in the world class Red Lake Mining District. A total of 1,277 metres have been drilled to date, more than double the original project design of 600 metres.
Despite fifteen (15) metres of glacial overburden and a lack of outcrop, six (6) of the seven (7) holes have intercepted intervals with polymetallic sulphide mineralization extending from surface to 184 metres downhole. Mineralization appears to be associated with intense biotite-silica-carbonate alteration along an east to west-trending zone encompassing over 225 metres laterally, remains open to the east and west and is unconstrained at depth. Foliation-parallel sulphide stringers and veins, up to 20 centimetres in thickness and containing up to 80% sulphides, occur in broad zones up to seven (7) metres in width along the core orientation and are surrounded by disseminated sulphides and silica-biotite-epidote alteration.
AurCrest has submitted samples for gold and multi-element assays and will compile the geochemical results upon receipt. The degree of alteration, consistent intercepts of mineralization and structural interpretation of this zone is encouraging and step-out drill holes currently are designed to further explore the geological potential of the mineralization along strike.
Greg Davison, P.Geo. (BC), a Qualified Person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this Press Release.
ABOUT AURCREST GOLD INC.
AurCrest is a mineral exploration company focused on the acquisition, exploration and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake, Ranger Lake and Bridget Lake gold properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
President and C.E.O.
Director of Business Development
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
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: AurCrest Gold Inc.