Vancouver, August 12th, 2020 – Gaia Metals Corp. (the “Company”) (TSX.V: GMC) (OTCQB: RGDCF) (FSE: R9G) is pleased to announce that field crews have mobilized to the Freeman Creek Property (the “Property”) to carry-out a Phase I surface exploration program that will lay the foundation for the subsequent Phase II drill program. The Property is located approximately 15 km northeast of Salmon, in the State of Idaho, USA, and is accessible via paved highway and a network of gravel roads and trails.
The Phase I surface program will include the following components:
- Verification of historical drill collar, adit, and open-cut locations
- Property-wide prospecting and rock sampling
- Property-wide ground magnetic survey
- Soil sample grid extending across the Gold Dyke Prospect
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. Both prospect areas have seen sporadic exploration since the early 1900s, which includes high-grade Au-Ag samples of various outcrop and open-cuts as well as the completion of several adits (see news release dated June 4th, 2020). In the 1980s, several exploratory reverse circulation drill holes were completed at the Gold Dyke Prospect with many encountering near surface zones of anomalous gold mineralization, highlighted by the intersections in drill holes RDH 8 (above) and RDH 10 (1.7 g/t Au and 17.1 g/t Ag over 21.3 m). Strong grades of Cu, Pb, and Zn have also been reported, although were inconsistently assayed for.
The objective of the Phase I program is to verify these historical (i.e. pre-GPS era) drill collar, adit, and open-cut locations and to expand upon the surface mineralization that has been documented as far back as 1904. The soil sampling and magnetic survey will further aide with geological interpretation and trends over the target areas. Collectively the dataset derived from the Phase I surface exploration will orient the Phase II drill program anticipated to occur this fall.
Further in this regard, with the surface program now underway, the Company is actively planning the Phase II drill program. The Property is entirely located on BLM lands, outside of US Forest Service Lands and other protective areas. Therefore, the permitting process is relatively straightforward and efficient in comparison to other land designations where the process may be significantly more onerous. For optionality, the Company is permitting a total of eighteen (18) drill pad locations in support of an initial 1,000 m drill program (5 or 6 holes). These pad locations may be further modified based on results of the surface program currently underway.
The Gold Dyke Prospect, as the most advanced target on the Property, will be the focus of the initial drill program, which is anticipated to include twinning of the best historical drill intersections (core vs cuttings from historical drill holes RDH 8 and RDH 10), as well as drill testing of high-grade open-cut locations at depth. The primary objective of the drill program is to verify the historical drill results and gain additional understanding of the geology and orientation of the mineralized horizon(s), effectively setting the stage for a more expansive drill campaign.
Adrian Lamoureux, President, CEO, and Director of Gaia Metals Corp. comments, “Now that we have executed the Definitive Agreement for 100% ownership of the Freeman Creek Gold Property, we are immediately moving forward with an aggressive 2020 exploration campaign including drilling. Verification and expanding upon the historical results are the first steps toward unlocking the potential of this asset for our shareholders. With gold achieving historic highs, our timing couldn’t be better”.
NI 43-101 Disclosure
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.