VANCOUVER, BC / ACCESSWIRE / February 6, 2023 / Relevant Gold Corp. (CSE:RGC) (the "Company" or "Relevant Gold") is pleased to announce the results of its initial 3,500m drilling exploration program on its Golden Buffalo Project, located in the Company's 15,095 hectare land package in the South Pass Gold Field, Wyoming, USA. Highlights of the program include 1 metre (core length) of 83.8 g/ton Au in Hole 22GB-012 and 14 of 26 holes reporting anomalous gold (>0.1 g/ton Au). The results indicate that the Golden Buffalo Shear is a fertile orogenic gold structure and provides initial proof of concept that large scale Abitibi-style mineralization may exist in central Wyoming (See Press Release 11/07/2022). Drilling Highlights include:
- Hole 22GB-012:1 metre (m) core length of 83.8 g/ton Au from 170m - 171m and 2m grading 0.17 g/ton Au from 171-173m representing a discrete 3m shear zone grading 28 g/ton Au
- 22GB-013:1.29m (core length) of 0.62 g/ton Au from 104.32m - 105.61m and 0.84m of 1.16 g/ton Au from 138m - 138.84m
- Hole 22GB-006: 3.2m (core length) of 0.53 g/ton Au from 32m - 35.2m
- Mineralization was consistently found in individual shear strands within the overall 20m+ wide Golden Buffalo Shear Zone.
- 54% of holes drilled intersected anomalous (>0.1 g/ton Au) gold mineralization
- Orogenic/Abitibi-style alteration observed in all 26 drill holes.
- Drill holes stepping out 400-500m to the North confirmed continuity of multiple mineralized shear zones parallel to the Golden Buffalo Shear Zone (GBSZ).
The holes reported here from the 2022 Golden Buffalo exploration program are the first efforts to identify district-scale orogenic gold opportunities in the long underexplored central Wyoming Gold Belt. High-grade gold has long been known from the region, but only recently have a series of major Archean shear zones been recognized as hosting this gold. This indicates modern exploration concepts of "orogenic gold", such as those developed in the prolific Canadian Abitibi Gold Belt (>200 million ounces of gold production) can be applied in the region. Importantly, recent plate tectonic studies suggest that Wyoming was connected to the Abitibi Gold Belt at the time of mineralization and was later rifted apart to its present position. This increases the potential that the multiple shears identified to date in the Company's 15,095 hectare land package should have excellent potential for a major gold discovery. These shears are being systematically mapped and sampled, with initial results expected soon.
"These exciting results confirm gold mineralization and Abitibi-style alteration are indeed associated with large-scale shear structures cutting the property. The high-grade gold in 22GB-012 proves that gold mineralization continues to depth, confirming that our Abitibi-style gold mineralization model is appropriate for the project," said Robert Bergmann, CEO of Relevant Gold. "We are very excited with these results and look forward to combining them with our regional mapping and sampling to target the multiple Golden Buffalo-style shear zones we've mapped traversing the claim package. We eagerly anticipate drilling some of these shears in our 2023 work program."
Key Observations from Drill Core
The Company's primary focus for this drilling program was to test the continuation of the Golden Buffalo Shear Zone to depth, along strike and begin to define the subsurface geology, architecture, alteration and pathfinder geochemistry. The following key observations were made:
- The Golden Buffalo Shear Zone is traceable from surface to a vertical depth of at least 300m. It remains open at depth.
- Strike length of the Golden Buffalo Shear Zone was expanded to approximately 800m. Step out holes 400 - 500m to the North (22GB-009 and 22GB-014) cut multiple mineralized shear zones parallel to the Golden Buffalo Shear Zone.
- Gold mineralization correlates strongly with As, Ag, Sb and W.
- Deep drilling beneath the Golden Buffalo Shear Zone from holes 22GB-009 and 22GB-014 illustrates widening of the Golden Buffalo Shear Zone at depth.
- Abundant episodic, complex quartz vein arrays were cut in most drill holes.
- Quartz veining includes steeply dipping (~85°) shear parallel veins and repeated shallowly- dipping (~35°) extensional vein sequences.
- Below the 30-50m oxidized zone, pyrite-pyrrhotite is associated with shear zones and related quartz veining.
- Alteration mineralogy includes an Abitibi-style assemblage of biotite, chlorite, actinolite, sericite, tourmaline and silicification.
- The style of orogenic quartz-sulfide veining is typical of that occurring in a brittle-ductile transition zone.
- Shear zones consist of an anastomosing, multi-strand array of E-W striking, steeply south (~85°) dipping structures that vary in width from <1.0m to >150m.
Twenty-six holes were completed, totaling 3,478m, of HQ and PQ oriented diamond core drilling (Figure 1). Hole 22GB-012 intersected 1m (core length) of 83.8 g/ton Au from 170m - 171m within a discrete 3m wide mineralized shear strand averaging 28 g/t gold, which importantly correlates as the downdip extension of the surface trace of the Golden Buffalo Shear Zone (Figure 2). Hole 22GB-013 was drilled from the same pad (different azimuth) and intersected 1.29m of 0.62 g/ton Au from 104.32m - 105.61m and 0.84m of 1.16 g/ton Au from 134m - 134.85m within the Golden Buffalo Shear Zone (see core photos).
Surface trenching and drilling has begun to define the Golden Buffalo Shear Zone as a series of anastomosing shear strands within an overall zone ranging from <1m to >150m wide. Both the high-grade mineralization cut in drill core and surface trench data shows that gold mineralization occurs along the contact margins of the Golden Buffalo Shear Zone within a heavily sheared and compositionally banded schist subunit of the regionally productive Miner's Delight Formation.
The gold-bearing intercepts lie in similar shear "strands" within the overall shear zone, indicating at least one fertile gold mineralization stage. The 83.8 g/t gold interval lies within a 3m mineralized shear strand, which fits with the style of high-grade coarse gold found variably distributed within the 20m+ wide shear zone historically mined at Golden Buffalo. This suggests the entire 3m wide strand could intermittently contain similar coarse gold along strike and dip.
The Company understands that orogenic gold systems display coarse gold biases ("nugget effects") in assay results, so the Company uses a rigorous analytical process and has submitted samples to ALS for reruns and additional analysis to further understand the variability of high-grade coarse gold at the Golden Buffalo project and the best protocols for accurately determining gold contents.
"Our experience in these systems predicted this issue, which is why we are refining our analytical process to understand the distribution of coarse gold within the broader shear zone," stated Brian Lentz, CXO. "The super high-grade result in Hole 12, plus seeing visible gold in the cuttings from intervals that did not report appreciable grades, has stimulated re-assaying larger bulk samples from several intervals to determine if coarse gold was not adequately captured by the protocols used initially. Those results will be reported once in hand".
Figure 1. Plan view map of drill hole traces with downhole lithology and gold assays (100ppb = 0.1 g/ton).
Figure 2. Cross section of holes 22GB-012 and 22GB-013.
Highlighted Drilling Results:
Table 1. Highlight intercepts of gold assay results from initial 2022 drilling at Golden Buffalo. This table shows all the anomalous gold assay results of >/= 0.1 g/ton Au with results of >0.25 g/ton as bolded text. All intervals shown above are core length intervals.
Samples were submitted to the certified laboratory ALS Minerals, Inc for preparation and assaying at their Twin Falls, Idaho; Reno, NV; Loas, PDR; Hermosillo and Zacatecas, Mexico facilities; additional assaying and analysis was performed at their Reno, USA, Mexico, Loas and North Vancouver, Canada facilities (ALS facility info here). Most samples were fire assayed for gold with the Au-AA24 method using a 50g sample and atomic absorption finish, and some samples were analyzed with the Au-AA23 method using a 30g sample, also with the atomic absorption finish. Additional assay methods included metallic screen fire (Au-SCR24) and gravimetric assays (Au-GRA22). Furthermore, some samples were analyzed for multi-element geochemistry using method ME-MS61 with a 4-acid digestion.
ALS employs an internal QA/QC to ensure proper sample preparation and equipment calibration. Additionally, Relevant Gold's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample batches to further monitor lab accuracy, precision, and equipment calibration.
All results and QA/QC have been reviewed by Mr. Brian Lentz, CPG, who is the Chief Exploration Officer and Qualified Person for the Company.
About Relevant Gold Corp.
Relevant Gold Corp. is a North American gold exploration company founded by experienced exploration geologists and operated by a highly respected team with a proven record of significant value creation for shareholders. Relevant Gold is focused on the acquisition, exploration, discovery, and development of district-scale gold projects in the state of Wyoming - one of the most mining friendly jurisdictions in the United States and globally.
On behalf of Relevant Gold Corp.,
Rob Bergmann, Chief Executive Officer
For further information about Relevant Gold Corp. or this news release, please visit our website at www.relevantgoldcorp.com or contact Rob Bergmann, President and CEO, or Kristopher Jensen, Manager of Investor Relations, at 763-760-4886 or by email at [email protected].
Cautionary Note Regarding Forward-Looking Statements and Historical Information
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of Relevant Gold Corp. ("Relevant" or "Relevant Gold" or "the Company"). 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 "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward looking information. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
The scientific and technical contents of this release have been approved by Mr. Brian C. Lentz, CPG #11999, Chief Exploration Officer of the Company, who is a "Qualified Person" as defined by Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Lentz is not independent of the Company.
SOURCE: Relevant Gold Corp.