Vancouver, BC, Canada, November 12, 2020 – Gaia Metals Corp. (the “Company”) (TSX.V: GMC) (OTCQB: RGDCF) (FSE: R9G) is pleased to announce that it has now completed its maiden diamond drill program at the Company’s Freeman Creek Gold Property (the “Property”). The Property is located approximately 15 km northeast of Salmon, Idaho, and hosts excellent access via paved highway and a network of gravel roads and trails.
The recently completed drill program consisted of four (4) diamond drill holes of HQ size, totalling of 457 m. The program focused on the Gold Dyke Prospect (“Gold Dyke”) and included a drill hole twin (FC20-003) of the historical drill hole RDH-8, which returned 1.5 g/t Au and 12.1 g/t Ag over 44.2 m. Each 2020 drill hole intersected near-surface zones of variably altered metasediments, with common to abundant quartz veining, silicification, sulphides, and brecciated/vuggy textures. The zone remains open in all directions and has been tested over a strike length of approximately 250 m. The drill core is being logged and sampled on site in Salmon, Idaho, and samples will be shipped to the laboratory in the next week. The Company will advise as assay results are received.
The Company is also pleased to note that the construction of road access to drill pads has resulted in a significant amount of new outcrop exposure. A total of 33 rock samples were collected along the access route and have been sent for analysis. A large portion of the exposed outcrop is silicified and variably vuggy metasediments hosting abundant quartz and iron oxide veining, along with common sulphides, and is very similar to the zone encountered in drill hole.
Collectively, the 2020 surface sampling at Gold Dyke has outlined a prospective area considerably larger than previously recognized and includes numerous sample assays ranging from 0.5 to 10.9 g/t Au and 1 to 292 g/t Ag (+/- Cu). Mineralization at Gold Dyke is hosted by strongly silicified meta-sediments with common vugs, quartz veining, and minor sulphides (pyrite, chalcopyrite). The Gold Dyke area may be directly accessed by secondary gravel roads and is located on BLM lands outside of US Forest Service Lands and other protective areas.
Once the sample assay results have been received, the Company intends to prioritize the next series of drill holes for aggressive follow-up at Gold Dyke. In addition, the permitting process for a maiden drill program at Carmen Creek is ongoing. The Carmen Creek Prospect has never been drill tested and its depth extent is not known; although, the potential has been enhanced considerably following the results of the 2020 surface exploration. Further, sample assay results for the 3-day follow-up prospecting program completed at Carmen Creek in October remain pending (see news release dated November 10th, 2020).
Figure 1: 2020 drill hole locations at the Gold Dyke Prospect
Photo 1-2: Drill rig set-up at the Gold Dyke Prospect
Photo 3-4: Drill-site access construction
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration for the Company and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Gaia Metals Corp.
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals, including platinum group elements, and lithium.
The Company’s flagship asset is the Freeman Creek Gold Property, located in Idaho, USA. The Property hosts two major advanced targets; the Gold Dyke Prospect, with an historical drill intercept of 1.5 g/t Au and 12.1 g/t Ag over 44.2 m (RDH 8), and the Carmen Creek Mine Prospect, with an historical outcrop sample assay of 14.15 g/t Au, 63 g/t Ag, and 1.2% Cu.
Additional assets include the wholly owned Corvette Property, and the FCI Property (held under Option from O3 Mining Inc.) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
On Behalf of the Board of Directors,
Adrian Lamoureux, President & CEO
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 news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.