Stallion Gold Corp.
(TSX-V: STUD) (Frankfurt: HM4)
(“
Stallion” or the “
Company”) is
pleased to report the results and mapping of the geochemical survey
completed at their Horse Heaven Project (the
“Project”) in Valley County, Idaho. The survey
results verify the occurrence of structurally controlled gold
mineralization along the Golden Gate Fault Zone (the “GGFZ”) at a
length of over 2.8km. Further, the Company also announces the
staking of 4 additional mining claims to cover anomalies in survey
area.
“Our team was pleased to see the results from
our initial geochemical survey along the Gold Gate Fault Zone, not
only for the strong assay values, but also the continuity and
continuation of the readings along the surveyed area of the fault
zone. This encourages and validates our further exploration of the
GGFZ,” said Drew Zimmerman, CEO.
Soil Geochemical Survey
Stallion has received the assay results from the
recently completed geochemical soil survey at the Project, along
the GGFZ. The purpose of the survey was to validate gold
mineralization along the structurally controlled GGFZ epithermal
system.
The survey was comprised 789 soil samples,
collected along east-west lines spaced 122m apart with individual
sample spacing along the lines at 30.5m. Approximately 0.5 to 1 kg
of “B” horizon soil was collected from a depth between 20-30 cm.
The GGFZ was tested along a 2.6 km length, across widths of 900 m
to 1500 m. The Company received gold, silver and multi-element
pathfinder element assays. Gold assay results of more than 0.025
parts per million (ppm) occurred in 342 of the samples (43%). Of
those samples 140 were more than 0.10 ppm Au (18%), 54 were more
than 0.25 ppm Au (7%), 18 were more than 0.50 ppm Au (7%) and 6
were in excess of 1.0 ppm Au (0.75%). The highest assay was 1.99
ppm Au. (see figure 1)
“We are very pleased to see gold in soils
distributed along the length of the GGFZ demonstrating the
structural control of the mineralization,” stated Bill Breen,
President and VP Exploration. “The occurrence of the gold anomalies
along the southern and northern slopes along the GGFZ could be an
indication of down dip control of the mineralization, possibly
related to the depth of gold deposition within the shear zone.”
The finding of anomalous silver along the length
of the GGFZ reinforces the observations found in gold. (see figure
2) Results from pathfinder elements of arsenic (As), tungsten (W),
and antimony (Sb) elements in the soils are useful in planning and
vectoring into future mineralized areas at Horse Heaven. Arsenic
has an excellent correlation with presence of gold mineralization
along the GGFZ. This correlation will be very useful during future
geochemical surveys in other areas at Horse Heaven.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8dd89f37-b1f5-40d0-8680-51ead0eec705
Antimony (Sb) in soils results, forms an
anomalous discrete linear trend along the entire length of the east
side of the soil grid. Stallion believes the reason for this to be
that the antimony mineralization is a possible vein, focused along
the eastern side of the GGFZ and at depth it is associated to the
antimony veins found on Antimony Ridge which was mined during WWII.
(see figure 3)
Tungsten (W) is anomalous at the southern end of
the soil grid. This is suggesting that tungsten used the same
conduits as the gold mineralization at formation. The tungsten
anomaly along the summit of Golden Gate Hill aligns with the gold
reading and is the site of the historic Golden Gate Tungsten Mine.
The area was last mined in 1980. (see figure 4)
Rock Geochemical Survey
A total of 45 rock samples were taken along the
GGFZ, including grab, chip and float samples. Rock sampling
verifies the mineralization occurring in the soils is related to
outcrop and subcrop found along the shear zone. The gold assay
results returned 33 samples out of the 45 greater than 0.10 ppm Au
(73%), including 26 samples out of 45 equal or greater than 0.25
ppm Au (57%), including 17 out of 45 greater than 0.50 ppm Au
(38%), and 8 out of 45 greater than 1.0 ppm Au (18%) with the
highest gold value reported was 4.30 ppm Au. (see figure 5)
There were 2 areas of outcrop along southern
slope within the GGFZ that were channel sampled. The first most
southern area has 10 channel samples over 28 meters and returned an
average assay of 0.778 ppm Au. The second area consisted of 5
samples over 13 meters with an average assay of 0.277 ppm Au. At
the northern end of GGFZ there are three small prospect pits over a
distance 15m and 54m up the ridge above the pits an outcrop. 8
samples were taken in the prospect pits and 1 sample taken off the
outcrop with assay results averaging 0.921 ppm Au. The distance
between the channel samples on the southern end of the GGFZ to the
rock samples at the north end is over 2.8 km.
Silver assay values in the rock samples showed
that 28 of the 45 samples (62%) are 0.5 ppm Ag or greater,
including 15 of 45 samples (33%) have 1 ppm Ag or greater and 5 of
45 samples (11%) have a silver value greater than 10 ppm. The
highest silver assay is 132 ppm. Higher silver values are
associated with anomalous gold values. (see figure 6)
Stream Sediment Survey
A stream sediment survey program was completed
on the drainages flowing in and around the GGFZ. A total of 28
stream samples were taken in the active stream channel. 10 of the
28 (36%) samples had a gold assay of greater than 0.10 ppm Au. The
highest gold assay was 0.592 ppm Au. Stream sediment sample program
on other areas on the Project will be very instrumental in finding
further mineralization.
Conclusions
Soil, rock and stream sediment sampling results
verify the occurrence of structurally controlled gold
mineralization along the GGFZ at a length of over 2.8km. The
results have also highlighted other areas to be further explored.
The use of geophysical techniques will be used to further define
drill targets along the GGFZ. Planning has already begun to
implement a geophysical survey over the GGFZ. Additional stream
sediment, rock sampling and soil sampling will be planned and
executed in 2022 over the other prospective target areas of the
Project as the Company looks for further mineralization.
Claim Staking
Stallion located 4 additional claims at the
Project, and now hold a total of 699 mining claims. The new claims
added 172.9 hectares of mineral rights for a total of 5,817
hectares. The new claims were added to cover anomalies discovered
in the 2021 soil survey.
QA/QC
The samples were placed into numbered sample
bags, registered, sealed in rice bags and stored in company
premises prior to being sent for analysis. Sample preparation was
done by ALS Twin Falls, Idaho and assaying were done by ALS Reno,
NV lab. Samples were crushed and pulverised, gold and a 35
multi-element suit was analyzed by aqua regia with an ICP-MS
finish.
Rock results presented in this news release and
accompanying figures are from 0.5 to 1 kg selected grab of outcrop,
sub-crop and float samples. The grab samples of float material
reported in this announcement are believed to originate from the
underlying bedrock. The Company cautions that grab samples are
selective by nature and may not be representative of typical
mineralization on the property. Sample preparation was done ALS
Twin Falls, Idaho and assaying were done by ALS Reno, Nevada Lab.
Samples were crushed and pulverized, and gold was analyzed by 30
gram-charge Fire Assay and AAS finish. A 35 multielement analysis
including silver was done by aqua regia and ICP-MS
determination.
A Chain-of-Custody was established between the
Company and receiving laboratory to ensure the integrity of the
samples during transportation from site to the lab.
Stallion inserted 4 duplicate samples, 3
certified reference standard samples, and 4 blank samples every 100
soil samples, to assess repeatability and assaying precision of the
laboratory. In addition, the laboratory applied its own internal
Quality Control procedure that includes sample duplicates, blanks
& geochemical standards. They report these results with the
certified Assay Report. Laboratory procedures and QAQC protocols
adopted are considered appropriate. The CRMs and internal QC-QA
results fall within acceptable levels of accuracy & precision
and are considered to lack any bias.
Horse Heaven Gold Project
The Project is comprised of 699 mining claims
covering 5,817 hectares in Valley County, Idaho making it one of
the largest single parcel exploration projects in the state. The
Project shares its eastern boundary with Perpetua Resources’
Stibnite Gold Project, one of the largest independent gold
reserves, not only in the state, but in the country with over 6
million ounces gold (measured &indicated). The state has seen
increased mining and exploration activity as companies alongside
Stallion desire projects in stable geopolitical locations with
clear permitting procedures.
Qualified Person
William Breen (Registered Member 04203997
of SME) is the Qualified Person as defined by NI 43-101, Standards
of Disclosure for Mineral Projects, who has reviewed and approved
the scientific and technical content of this press release. Mr.
Breen is an officer of the Company.
About Stallion Gold
Stallion Gold is a mineral exploration company
focused on the exploration of precious metals and critical minerals
at its Horse Heaven Gold Property in Idaho. Stallion Gold is using
modern exploration techniques to explore historical and new mineral
targets on its expansive land package. A strong management team
brings expertise in both the capital markets and the technical
talent for acquiring early-stage property with highly prospective
targets. The shares of Stallion Gold trade on the TSX-V under the
symbol: STUD. Stalliongold.com
On Behalf of the Board“Drew
Zimmerman”Drew ZimmermanChief Executive Officer(778) 686-0973
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.
Except for historical information contained
herein, this news release contains forward-looking statements that
involve risks and uncertainties. Actual results may differ
materially. Except as required pursuant to applicable securities
laws, the Company will not update these forward-looking statements
to reflect events or circumstances after the date hereof. More
detailed information about potential factors that could affect
financial results is included in the documents filed from time to
time with the Canadian securities regulatory authorities by the
Company.
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