Hinterland stakes cobalt claims in Gowganda, Ontario
VAL D'OR, QUEBEC--(Marketwired - Mar 24, 2017) - Hinterland Metals Inc. (TSX VENTURE:HMI) ("Hinterland") is pleased to announce that it has staked 175 claim units (2,800 hectares) in four blocks located in the Gowganda area of north-eastern Ontario. Gowganda is located 85km northwest of the Cobalt silver-cobalt camp. The silver-cobalt mineralization found at Gowganda is identical to that found at Cobalt. From 1910 to 1989 Gowganda produced 60.1-million ounces of silver and 1.4-million pounds of cobalt representing 11% of the total silver and 6% of the total cobalt endowment of the Cobalt-Gowganda camp. Output was from ten separate mines with the Miller-O'Brien mine in Nicol Township being the largest, with production of 38.0-million ounces silver and 0.8-million pounds cobalt. (Ontario Geological Survey, Open File Report 6318, pages 7-10). The claim blocks staked do not cover areas of past production.
The silver-cobalt deposits at Gowganda occur within fracture-fill type carbonate veins that include a wide variety of minerals containing combinations of cobalt-iron-nickel, arsenic-antimony-sulphur and minor amounts of chalcopyrite and galena. Traditionally cobalt was a secondary product of the silver mining. The veins occur within Nipissing Gabbro sills that have intruded Archean metavolcanic rocks which are unconformably overlain by flat-lying meta-sedimentary rocks of the Coleman Member of the Gowganda Formation. The veins tend to be vertical to sub-vertical, narrow and somewhat discontinuous, but very high-grade. The staking was targeted to cover mineral occurrences documented in the Ontario Mineral Deposits Inventory database and prospective Nipissing Gabbro sills. http://www.hinterlandmetals.com/i/maps/gowganda/compilation-gowganda.pdf
The four claim blocks are described as follows:
- Morel (36 units) covers the Solid Silver (MDI41P15SE000091) and Bloom Lake (MDI41P15SE000151) occurrences, and a 5km section of a Nipissing Gabbro sill. A value of 411g/t Ag is reported from a single surface grab sample taken at Solid Silver. Values ranging from 219 to 603g/t Ag, 0.3 to 0.9% Co and 11.0 to 14.7% Cu are reported from four surface grab samples taken at Bloom Lake. Previous underground exploration work at Bloom Lake includes a shaft and several adits.
- United Reef (48 units) covers the Unit Reef prospect (MDI41P10SE000061) and parts of several Nipissing Gabbro sills. A single drill hole intersection of 1250g/t Ag over 3.0m is reported at the Unit Reef prospect.
- Nicol (36 units) covers parts of a Nipissing Gabbro sill. Values of 50 and 7,800g/t Ag are reported from two surface grab samples taken at the Byberg prospect (MDI41P10NE000461) located 400m west of the Nicol claim block. Development work including a 365m shaft and an adit were done at the Bishop occurrence (MDI41P10NE000021) located 325m northwest of the Nicol claim block. Values of 0.3% Co and 1.6% Cu are reported from a single surface grab sample taken at Bishop. Values of 0.1% Ag and 0.9% Co are reported from a single surface grab sample taken at the Powerful prospect (MDI41P10NE000651) located 575m east of the Nicol claim block.
- Lawson (32 units) covers parts of a Nipissing Gabbro sill. A single grab sample taken from a trench exposing this same Nipissing Gabbro sill returned 65.4oz/ton Ag and 0.2% Co at the Lacarte prospect (MDI41P10SE000081) located 2.5km north of the Lawson claim block.
All sample results quoted above were sourced from the Ontario Mineral Deposits Inventory database1 (http://www.mndm.gov.on.ca/en/mines-and-minerals/applications/ogsearth/mineral-deposits-mdi) and have not been verified by Hinterland. The Company cautions that grab samples are selective and may not be representative of the grade of mineralization that may be found on the claim blocks. Hinterland intends to complete a prospecting and sampling program in early May to examine the showings, and to confirm the results quoted above.
Mark Fekete, P.Geo is the designated "qualified person" as defined in Section 1.2 in and for the purposes of National Instrument 43-101 that reviewed and approved the technical content of this release.
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 release. This release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company's periodic reports including the annual report or in the filings made by the Company from time to time with securities regulators. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of an unanticipated event.
To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/hinterland_metals_march24_map01.pdf
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Contact
Hinterland Metals Inc.
Mark Fekete
President
1-819-354-5244
Hinterland Metals Inc.
Zak Dingsdale
Director
1-905-269-0797
info@hinterlandmetals.com
www.hinterlandmetals.com