Antler Gold announces high grade gold assays from the Elm trench and confirms increased widths at Alder zone, Wilding Lake Gold Project
HALIFAX, Jan. 24, 2017 - Antler Gold Inc. ("Antler") (TSX-V: ANTL) is pleased to announce that final assays have been received from the 2016 fall trenching program at the Wilding Lake Gold Project (the "Project") in central Newfoundland. The most recent data include high grade gold assays from the Elm prospect and confirmation that portions of the Alder zone are wider than originally thought. These results further emphasize the potential of the largely untested structural corridor through the Project. Dan Whittaker, President and CEO of Antler, stated, "These results indicate that the mineralizing system on the Wilding Lake project is capable of producing both very high grade gold and significant widths. The showings to date were discovered in a few short months by prospecting for quartz float along logging roads. We now have commenced our systematic exploration program over the remainder of the ground we currently control and this work will continue through the winter months".
Cedar-Elm (CE) Zone. The CE zone is located approximately 1.1 kilometers northeast of the Alder-Taz zone and the high grade assays received indicate the robust gold tenor in this particular area. The main shear vein, which attains widths of up to 2.0 metres, yields gold values ranging from 1.0 to 101.5 g/t Au, averaging 20.6 g/t Au (based on the 22 channels that sampled the shear vein). Trenching has exposed the vein for approximately 60 metres and it remains open along strike in both directions. The style of mineralization is very similar to Alder, occurring as a northeast-striking and moderately to shallowly southeast-dipping quartz vein within sheared Rogerson Lake Conglomerate. Free coarse gold is common and occurs in association with chalcopyrite, minor chalcocite, and locally tourmaline. A trench map is appended to today's press release, and is available on Antler's website at www.antlergold.com
Alder-Taz (AT) Zone. Final assays from expanded trench work at Alder indicates the mineralized shear zone in the widened Trench 1 now has an expanded apparent width of up to 10.55 metres. Previously reported assays in this trench yielded a composite saw cut channel sample of 13.8 g/t Au over 4.0 metres. The mineralized zone has been expanded by several metres in each direction across strike (northwest and southeast) and revised composite channel samples include:
- 8.7 g/t Au over 6.65 metres (includes 13.8 g/t Au over 4.0 metres)
- 3.9 g/t Au over 6.05 metres
- 6.5 g/t Au over 3.70 metres (includes samples of 19.2 g/t Au over 0.90 metres).
Trenching at the Alder showing has exposed the mineralized shear zone over a strike length of 100 meters. The Taz showing is located 125 meters along strike to the southwest of Alder. An updated trench map is available appended to today's press release and is available on Antler's website at www.antlergold.com
Dogberry Zone. Grab samples collected from the Dogberry main vein have returned assay values of 26.8, 55.8 and 78.8 g/t Au. The mineralization at Dogberry is similar in tenor to channel sample results previously reported (Press Release dated January 16, 2017). Late in the fall, the Dogberry trench was extended and uncovered several narrow quartz veins containing chalcopyrite within altered conglomerate. Grab sample results from the veins include 5.6 g/t Au, 15.0 g/t Au and 27.8 g/t. A 0.5 m channel across a similar vein in the same area assayed 7.8 g/t Au. Channel sampling of the altered conglomerate returned insignificant results. An updated trench map is appended to the version of this press release on Antler's website at www.antlergold.com
Summary
The Wilding Lake Project encompasses 21,500 hectares and covers greater than 50 kilometres of prospective strike length following an important regional gold bearing structural corridor immediately northeast of Marathon Gold Corp.'s Valentine Lake project. The Project hosts multiple occurrences of newly discovered high grade gold mineralization within shear-related quartz veins in an area that has not previously been systematically explored for gold. Antler has the option to acquire the Project from Altius and Altius will be the operator of the Project during the option period. The 2017 winter exploration program has commenced with ground magnetic and IP-resistivity geophysical surveys over the new gold occurrences, and an airborne triaxial magnetic geophysical survey will commence in early February covering the entire Project at a 75 metre line spacing.
Quality Control
Channel sample results are not necessarily indicative of a property's potential. The mineralized zone width is reported as 'apparent' as drilling is ultimately required to enable true width determination. Assays are uncut. All samples were collected by Altius personnel on site, sealed in bags and kept in a secure facility before shipping to the ALS Minerals laboratory in Sudbury, Ontario. Gold was analyzed by 50 g fire assay with ICP-AES or gravimetric finish for assays greater than 10 g/t gold. Exploration program design and field management, Quality Assurance/Quality Control and interpretation of results were performed by Jeff Morgan, P.Geo., Exploration Manager for Altius Resources Inc., and Dave Evans, P.Geo., Silvertip Exploration Consultants Inc., qualified persons employing a QA/QC program consistent with industry best practices. Duplicate samples, blind standards and blanks were regularly submitted as part of the QA/QC program. Gold assay data were verified by checking the original laboratory assay certificates. Altius personnel are not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the data.
Howard Bird, P.Geo., Director of Antler Gold Inc., is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein and has reviewed and approved this release.
Cautionary Statements
This press release may contain forward-looking information, such as statements regarding Antler's the planned work program for the Project. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict, including risks relating to the ability to complete the work program in the expected timeframe, adverse weather and other conditions affecting work programs at the Project. Actual results may differ materially from results suggested in any forward-looking information. Antler does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to Antler. Additional information identifying risks and uncertainties is contained in the filings made by Antler with Canadian securities regulators, which filings are available at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Daniel Whittaker, President and CEO of Antler Gold Inc., at (902) 488-4700.