Avidian discovers new gold showing at Golden Zone
2018-09-10 09:54 ET – News Release
Mr. Nick Tintor reports
AVIDIAN DISCOVERS A NEW GOLD SHOWING AT THE GOLDEN ZONE PROJECT, ALASKA WITH GOLD VALUES UP TO 6.14 G/T AND STAKES ADDITIONAL GROUND
Avidian Gold Corp. has discovered a new gold showing and has subsequently staked an additional 4,403 hectares (44 square kilometres) of ground immediately west, south and contiguous with its Golden Zone project, located 320 kilometres north of Anchorage, Alaska.
Highlights are as follows:
- Prospecting discovery of multiple sulphide-bearing gossan zones with gold values assaying up to 6.14 grams per tonne (g/t);
- Multiple vertical dipping gossan zones ranging in thickness from 0.5 to +3.0 metres (m) over a true width area of approximately 150 m across a moderately steep rock face that extends approximately 200 m in height from the top of the talus line to the top of the mountain peak (see Photo 1) and an additional 100 m to the valley floor from top of the talus line;
- The strike length of the surface exposure of this new zone extends into the mountain side and its apparent extension has been discovered on the other side of the mountain, for a strike length of approximately 450 m to 500 m;
- Sulphide mineralization includes disseminated to semi-massive pyrite with chalcopyrite and arsenopyrite within vertically dipping sediments (siltstones/sandstones), intruded by porphyritic dikes;
- A total of 23 grab samples (1) across the 150 m width of the gossan zone just above the talus line were collected with eight samples assaying greater than 0.95 g/t Au. 0
Additional sampling is being carried out. Highlights from the gossans to date include:
- 6.14 g/t Au
- 5.41 g/t Au
- 3.83 g/t Au
- 2.08 g/t Au
Samples from interbedded siltstone sediments range from 0.098 g/t Au to 0.965 g/t Au;
(1) A complete list of sample assay results is listed in Table 1.
- Staking of State of Alaska claims covering 4,403 hectares (44 sq km) as result of this new discovery with prospecting ongoing as well as additional sampling at the JJ Zone;
- The new staking joined Avidian’s existing Golden Zone property with the Cohio property which it staked in 2016. Cohio features three grab samples of 111.0 g/t Au, 15.0 g/t Au and 9.7 g/t Au , to go along with six samples that ran less than 0.25 g/t Au.
It should be noted that, due to their selective nature, assay results from grab samples may not be representative of the overall grade and extent of mineralization on the subject area .
Nick Tintor, President and CEO of Avidian, commented, “Our regional scale prospecting program which is still ongoing, has possibly generated a new discovery with significant gold results that underscores the high prospectivity and potential of the Golden Zone district, with mineralization now extending over 15 kilometres in length. This program is just one component of Avidian’s current field program including 3,000 metres of drilling and 46.5 line kilometers of CSAMT geophysical surveying primarily in the Copper King-Long Creek target area which appears to be identifying another possible significant new discovery area(s) that is currently being evaluated by trenching and drilling.”
With the addition of the newly staked ground, Avidian now controls a district scale project that covers 10,534 hectares or 105 sq km of concessions providing several regional scale exploration targets in the central and southern portions of the project area for gold-copper mineralization associated with one or more intrusion related gold system.
All of this is in addition to the +260,000 ounces of Indicated gold resource at the Breccia Pipe Deposit (see About Avidian Gold Corp. below) that is located on the northern portion of the property, approximately 5 km northeast of the JJ Zone.
The mineralized occurrences on the project extends for well over 15 km in length. A map of the Golden Zone project including the newly acquired concessions is shown below in Figure 1.
Golden Zone Background
The Golden Zone project lies within the gold-endowed Tintina Mineral Belt and is located 320 kilometres north of Anchorage, Alaska and is conveniently accessed by a 16-km road west of the main transportation highway between Anchorage and Fairbanks.
Gold mineralization on the property is found in breccias, veins and shear zones, skarns and other replacement styles of mineralization. These all appear to be of igneous affiliation and are all spatially related to Cretaceous age intrusives.
For additional information on the Golden Zone project and the Company’s portfolio of projects, please visit Avidian’s website at www.avidiangold.com or see the Company’s profile at www.sedar.com .
QA/QC Statement
Sampling included insertion of certified standards and blanks into the stream of samples for chemical analysis. Samples were prepared at ALS Chemex’s laboratory in Fairbanks, Alaska and shipped to their Vancouver facility for gold analysis by fire assay and other elements by ICP analysis. ALS is a certified and accredited laboratory service.
The technical information contained in this news release has been reviewed and approved by Dr. Tom Setterfield, P.Geo, Vice President – Exploration for Avidian, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”
About Avidian Gold Corp.
Avidian Gold brings a disciplined and veteran team of project managers together with a regional scale advanced stage gold-copper exploration portfolio in Alaska. Avidian’s Golden Zone project also hosts a NI 43-101 Indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t Au) plus an Inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au). Additional projects include Amanita which is adjacent to Kinross Gold’s Fort Knox gold mine in Alaska, Jungo and Dome Hill in Nevada and Strickland in Newfoundland.
Avidian Gold is focused on and committed to the development of advanced stage mineral projects throughout first world mining friendly jurisdictions using industry best practices combined with a strong social license from local communities. Avidian Gold has 56,030,871 shares issued and outstanding.
Further information on the Golden Zone property can be found in the NI-43-101 Technical Report dated August 17, 2017 prepared by Leon McGarry, B.Sc., P. Geo and Ian D. Trinder, M.Sc., P. Geo that is available on SEDAR at www.sedar.com
We seek Safe Harbor.
GRAB SAMPLE RESULTS FROM JJ ZONE
SAMPLE Au (ppm)Cu (ppm) Description
W212982 0.006 43 Minor pyrite Rusty sandstone, talus
W212983 0.792 1,735 20% pyrite, 1% chalcopyrite Rusty gossan, talus
W213085 0.452 609 10% pyrite, 2% chalcopyrite Rusty gossan, outcrop
W213086 1.18 384 5% pyrite or arsenopyrite Rusty gossan, outcrop
W213087 0.416 118 5% pyrite and pyrrhotite Host sandstone
W213088 6.14 275 5-10% pyrite Rusty gossan with 2 cm sulphide veining, outcrop
W213089 0.098 287 Host sandstone, outcrop
W213090 0.965 367 sulfides Host sandstone, subcrop
W213091 0.952 375 5-10% pyrite Rusty gossan, outcrop
W213092 0.268 951 10% sulfide Rusty gossan, outcrop
W213093 0.325 661 20% pyrite? Rusty gossan, subcrop
W213094 0.505 1,240 Rusty gossan, outcrop
W213095 0.443 725 10% po, 5% py Rusty gossan, subcrop
W213096 0.262 713 5% aspy? Rusty gossan, outcrop
W213097 0.154 192 10% py, cpy, po Host sandstone, outcrop
W213098 0.091 314 5% aspy? Rusty gossan, outcrop
W213099 0.078 1,880 semi-massive po and py Rusty gossan, subcrop
W213101 0.834 431 aspy, sulfides Rusty gossan, outcrop
W213102 0.704 2,310 20% sulfide-cpy, py, po Rusty gossan, subcrop
W213103 1.295 368 aspy, py Rusty gossan, 1 m chip sample - outcrop
W213104 5.41 227 15% pyrite Rusty gossan with 10 cm sulphide vein, outcrop
W213105 3.83 1,455 20-30% sulfide Rusty gossan with 10 cm sulphide vein, outcrop
W213106 2.08 1,010 10% pyrite Rusty gossan, outcrop
It should be noted that, due to their selective nature, assay results from grab samples may not be representative of the overall grade and extent of mineralization on the subject area .
http://avidiangold.com/news-releases/
Related Posts
Tags
Share This
