Stakeholder Plans Ballarat Project Exploration Program, Dawson Range, Yukon, 2016
TORONTO, ON / ACCESSWIRE / May 4, 2016 / As previously announced on March 30, 2016, Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") will be exploring the Ballarat gold project located in the White Gold District of the Yukon Territory.
GroundTruth Exploration Inc. will conduct an exploration program on the Ballarat property's Northwest and Eastern zones. The Eastern zone gold-in-soils anomaly is located approximately 500 m from the proposed access road that will service Kaminak's Coffee Mine; the road is expected to cross the eastern portion of the Ballarat property.
Work planned in the first phase program will include a drone-generated, high resolution topographic survey of the entire property.
The Northwest zone, which has seen detailed conventional soil sampling and limited trenching and diamond drilling, will be further tested along two projected mineralized trends: NE-SW and E-W. Only a portion of the 2 km long soil geochem anomaly has been tested by trenching and drilling. The plan is to perform an induced polarization/DC resistivity survey over this anomalous trend that has not seen advanced surface or sub-surface exploration. The geophysical survey will aid in planning an immediate follow-up Geoprobe (soil at bedrock level) program, spaced at 5 m intervals along the survey lines.
The east-west trending anomaly measures about 1 km long and is located just south of the NE-SW anomaly. This zone will be explored by the same method described above. At least 500 samples will be collected by the Geoprobe survey along both trends.
A program of geophysics and conventional soil sampling is planned for the Eastern zone, located about 7.5 km due east from the center of the Northwest zone. A series of moderate to highly anomalous gold-in-soil anomalies were obtained along a ridge spur during a regional sampling program conducted in 2011. A control grid will be located, about 400 soil samples will be collected, and 5 geophysical profile lines will be surveyed.
The work program will begin at the earliest possible time in the Yukon summer exploration season, now anticipated to begin on or around the first week of June.
The target at Ballarat, like many of the gold deposits in the Yukon Range, is a structurally-controlled (orogenic) type, hosted by moderate to high grade metamorphic rocks that have undergone subsequent large scale faulting and localized intrusion with accompanying hydrothermal alteration and mineralization.
Figure 1.
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"The proposed exploration program, as outlined here, can provide meaningful results quickly and cost effectively. This will allow Stakeholder to quickly establish the merits of the anomalous gold zones already evidenced on the Ballarat property and to make decisions as to the next steps in prospective discovery of economic mineral deposits on the Ballarat property," said John Nebocat, P.Eng, VP Exploration for Stakeholder Gold Corp.
About Stakeholder Gold Corporation
Stakeholder Gold Corp. is a Canadian mineral exploration company headquartered in Toronto, Canada. The primary focus of Stakeholder is to explore and develop the Ballarat Gold Property in the White Gold District of the Yukon Territory. Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release was reviewed and approved by Mr. Nebocat, (P.Eng), a qualified person as defined by NI 43-101.
For more Stakeholder Gold Corp. information, please contact
Christopher J. Berlet, CFA
President & CEO
416 525-6869
cberlet@stakeholdergold.com
SOURCE: Stakeholder Gold Corp.