Vancouver, BC, Canada, October 6th 2020 – Gaia Metals Corp. (the “Company”) (TSX.V: GMC) (OTCQB: RGDCF) (FSE: R9G) is pleased to announce that it has now received official authorization (i.e. the “drill permit”) from the Bureau of Land Management (“BLM”), an agency of the United States Department of the Interior, to carry out the first phase of drilling at the Freeman Creek Gold Property (the “Property”). The Property is located approximately 15 km northeast of Salmon, ID and hosts excellent access via paved highway and a network of gravel roads and trails.
The Company is also pleased to announce that it has formally engaged Major Drilling America Inc. of Salt Lake City, UT, to carry out the diamond drill program at Freeman Creek, with first collar anticipated within the next 10 days. The initial drill program will be comprised of approximately 5-6-holes for a total of 1,000 m of HQ coring focused on the Gold Dyke Prospect.
The Gold Dyke Prospect is the most advanced target on the Property, having been the subject of some initial drill testing in the past, with encouraging results. This includes two mineralized intercepts from rotary drilling completed in the 1980s by St. Joe American Corp., that remain to be followed-up on: 1.5 g/t Au and 12.1 g/t Ag over 44.2 m (RDH-8) and 1.7 g/t Au and 17.1 g/t Ag over 21.3 m (RDH-10). Mineralization in the drill hole starts from surface and extends to at least 50 m depth and remains to be followed-up with additional drilling. Strong grades of Cu, Pb, and Zn have also been reported, although were inconsistently assayed for.
The diamond drill program will twin the historical rotary drill hole RDH-8 and will also test other targets in the area developed from the recent surface exploration. In addition, the Company is planning to initiate a follow-up surface program before snowfall at Carmen Creek, to run in parallel with the pending drill program at Gold Dyke, which will focus on further surface delineation of the known zone(s) as well as discovery of additional parallel zones.
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.