Vancouver, BC, Canada, October 13th 2020 – Gaia Metals Corp. (the “Company”) (TSX.V: GMC) (OTCQB: RGDCF) (FSE: R9G) is pleased to announce that is has received the remaining analytical results for samples collected during the recently completed Phase I surface exploration program at the Company’s wholly owned Freeman Creek Gold Property in Idaho, USA. The Property is located approximately 15 km northeast of Salmon and hosts excellent access via paved highway and a network of gravel roads and trails.
The first batch of rock sample analytical results was announced in the news release dated September 10th, 2020, with the remaining rock sample assays from the Company’s inaugural exploration of the Property announced herein. The new assays confirm prospective target areas at both Gold Dyke and Carmen Creek that are much larger than previously recognized. Highlights include:
- Extensive (800 m x 700 m) gold soil geochemical anomaly identified indicating significant potential to the east and south, beyond the limits of historical drilling
- A sample assay of 2.06 g/t Au, 23.1 g/t Ag and 0.56% Cu, approximately 1.3 km northeast of Gold Dyke which may represent a new zone of precious metal mineralization
- Multiple, closely spaced, parallel mineralized structures/vein(s) with high grades of precious metal mineralization identified over a mapped strike length of at least 1.2 km, which remains open at both ends
- The eastern extremity includes samples of 25.5 g/t Au, 159 g/t Ag and 9.75% Cu; 7.08 g/t Au, 59.5 g/t Ag and 1.53% Cu; and 2.00 g/t Au, 269 g/t Ag and 11.4% Cu
- The western most part of the Carmen Creek trend includes a sample of 2.02 g/t Au, 31.8 g/t Ag, and 0.76% Cu
Adrian Lamoureux, President, CEO and Director of Gaia Metals Corp. comments: “Our Phase I surface exploration has exceeded our expectations. At both, Gold Dyke and Carmen Creek, we have greatly expanded the areas of significant previous metal mineralization. Several new showings highlight the considerable potential for further discovery on the Property. We intend to aggressively advance the exploration at both Gold Dyke and Carmen Creek through the drill bit and continued surface work, to build value for our shareholders through discovery.”
The Phase I program at Freeman Creek was completed by Dahrouge Geological Consulting USA Ltd. of Centennial, Colorado, over fourteen (14) days in August and consisted of property-wide prospecting and rock sampling to verify historical surface data, soil sampling and a ground magnetic survey (see news release dated August 31st, 2020). Assay highlights from the rock sampling are presented in Table 1.
Table 1: Select Rock Sample Assays from 2020 Phase I Surface Exploration at Freeman Creek
|147012||Gold Dyke||Talus||10.9||80.1||0.72||Main Zone||X|
|147022||Gold Dyke||Outcrop||4.32||292||0.03||Main Zone||X|
|147392||Gold Dyke (East)||Talus||2.06||23.1||0.56||Phaser|
|147415||Gold Dyke||Muck Pile||1.89||0.6||0.00||Main Zone|
|147009||Gold Dyke||Outcrop||1.58||17.6||0.15||Main Zone||X|
|147010||Gold Dyke||Outcrop||1.07||19.5||0.01||Main Zone||X|
|147011||Gold Dyke||Talus||0.96||13.9||0.15||Main Zone||X|
|147004||Gold Dyke||Outcrop||0.81||14.2||0.02||Main Zone|
|147135||Carmen Creek||Muck Pile||25.5||159||9.75||Tardis|
|147058||Carmen Creek||Outcrop||15.3||41.0||0.78||Main Zone||X|
|147055||Carmen Creek||Outcrop||11.8||36.9||0.76||Main Zone||X|
|147134||Carmen Creek||Muck Pile||7.08||59.5||1.53||Tardis|
|147054||Carmen Creek||Talus||5.57||35.4||0.78||Main Zone||X|
|147128||Carmen Creek||Talus||4.98||148||32.0||Main Zone||X|
|147096||Carmen Creek||Outcrop||4.74||40.9||0.65||Main Zone||X|
|147094||Carmen Creek||Talus||3.96||18.0||0.41||Main Zone||X|
|147043||Carmen Creek||Talus||3.96||28.2||0.72||Main Zone||X|
|147132||Carmen Creek||Talus||3.50||21.7||0.20||Main Zone|
|147098||Carmen Creek||Talus||3.15||16.4||0.48||Main Zone||X|
|147044||Carmen Creek||Talus||3.06||15.5||0.13||Main Zone||X|
|147162||Carmen Creek (South)||Talus||0.74||13.7||0.15||Sontaran|
|X denotes previously announced result (see new release dated September 10th, 2020)|
Gold Dyke Prospect (see Figure 1)
A soil sampling program at Gold Dyke was completed to help highlight the potential scale of the prospect. A total of 162 samples were collected on a 100 m x 100 m grid, with 26 samples assaying greater than 20 ppb Au, 10 greater than 100 ppb Au and 4 greater than 400 ppb Au, to peak of 1,310 ppb Au (1.31 g/t Au). The results are highly encouraging with a strong 800 m x 700 m gold anomaly evident to the south and east of the easternmost historical drill holes. This includes RDH-8, which returned 1.5 g/t Au and 12.1 g/t Ag over 44.2 m and thus further highlights the potential to the south and east of the historical work.
The significance of the soil geochemical anomaly is supported by new surface rock sample assays of 1.89 g/t Au (muck pile, sample 147415) and 0.51 g/t Au (talus), respectively. In addition, the new Phaser Showing, which is located approximately 1.3 km north-northeast of the historical drill area, returned 2.06 g/t Au, 23.1 g/t Ag and 0.56% Cu (talus, sample 147392). Soil multi-element analysis remains pending.
Carmen Creek Prospect (see Figure 2)
The final batch of rock sample analysis from the 2020 surface exploration returned the highest documented assay to date from the Carmen Creek Prospect: 25.5 g/t Au, 159 g/t Ag and 9.75% Cu (the “Tardis Showing”, sample 147135). The sample was collected from a newly discovered parallel structure/vein, located approximately 80 m northeast of the main zone, at the site of a historical blast pit that had not been documented. Another sample (147134) collected at the showing assayed 7.08 g/t Au, 59.5 g/t Ag and 1.53% Cu. Abundant quartz with magnetite, malachite and minor bornite are described at the showing. Follow-up prospecting along strike is required.
A third parallel structure/vein has been interpreted further to the southeast at Carmen Creek, highlighted by sample 147541 with an assay of 2.00 g/t Au, 269 g/t Ag and 11.4% Cu (the “Daleks Showing”). This sample was collected at the end of a traverse and also requires follow-up.
Approximately 300 m to the northwest of the main Carmen Creek occurrence is a new showing (herein termed the “Gallifrey Showing”), discovered in outcrop and talus with grab sample assays of 2.02 g/t Au, 31.8 g/t Ag and 0.76% Cu (sample 147171).
Further, a rock sample (the “Sontaran Showing”) was discovered approximately 500 m south of the main Carmen Creek Trend which returned an assay of 0.74 g/t Au, 13.7 g/t Ag and 0.15% Cu (talus, sample 147162). The sample has similar mineralogy to the main trend.
Collectively, the 2020 sampling at Carmen Creek has outlined a prospective trend that is significantly larger than previously recognized and comprises a currently mapped strike length of at least 1.2 km, with strong mineralization sampled at both ends: 2.00 g/t Au, 269 g/t Ag and 11.4% g/t Cu (Daleks Showing); and 2.02 g/t Au, 31.8 g/t Ag and 0.76% Cu (Gallifrey Showing). The Carmen Creek Trend remains open along strike in both directions. The discovery of additional mineralized structures at Carmen Creek is significant and highlights potential for a “stacked” system of veins/structures that may potentially merge into a larger system at depth.
Figure 1: Gold Dyke Prospect
Figure 2: Carmen Creek Prospect
Photo 1: Historical blast pit muck-pile at Carmen Creek Prospect: 25.5 g/t Au, 159 g/t Ag and 9.75% Cu (sample 147135); 7.08 g/t Au, 59.5 g/t Ag and 1.53% Cu (sample 147134)
Photo 2: 7.08 g/t Au, 59.5 g/t Ag and 1.53% Cu (sample 147134) – Carmen Creek Prospect
Quality Assurance/Quality Control
All rock samples collected (grab), as well as quartz blanks and certified reference materials, were shipped by ground to Activation Laboratories Ltd. in Kamloops, BC for multi-element analysis (including Ag) by aqua regia digestion with ICP-OES finish (code 1E3) and Au analysis by fire assay with AA finish (package 1A2B-50). Over limits for Au, Ag and Cu were determined by the relevant analytical package. Soil samples were analyzed for multi-element (including Ag) by aqua regia digestion with ICP-MS finish (code Ultratrace 1) and Au analysis by fire assay with AA finish (package 1A2B-50).
Management cautions that prospecting surface rock sample assays, as presented herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.
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 a 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 a 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.