Ready Set Gold Initiates Phase 1 Drilling Program at Northshore Gold Project
Toronto, January 26, 2021 - Ready Set Gold Corp. (CSE: RDY) ("Ready Set Gold" or the "Company") is pleased to announce that the Phase 1 diamond drilling program has recently begun at the Company's Flagship Northshore Gold project ("Northshore" or the "Project") located in the gold producing Hemlo region of Ontario. Three drill holes have been completed to date.
"The Company has concluded, through its 2020 field work and its geological review/modelling of historical exploration data, that the Northshore project remains underexplored and offers tremendous exploration upside potential. This first drill program is an important step towards confirming historical work as well as growing the value at Northshore for shareholders," stated Ready Set Gold Corp.'s CEO Christian Scovenna.
A primary focus for the Phase 1, 3,000 m program, is to define the gold grade continuity of the Afric Zone to aid in the further development of the geological model. The drilling will advance the Company's efforts towards defining a NI 43-101 mineral resource on the Afric Zone and will evaluate potential extensions to the east and the west and to depth. The program will also test, relatively untested, parallel east-west vein systems, to the north of the Afric Zone, such as the #4, #5, Gino and Main veins (shown on the map below).
Figure 1 - Overview map of the Northshore Project highlighting the Afric Zone (shown in red), historical underground infrastructure, interpreted structural corridors, and known significant veins.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7393/72807_d85c1329341a1940_002full.jpg
The Phase 1 program, which has been contracted to Niigaani Drilling of Thunder Bay, is planned for approximately 15 HQ size diamond drill holes and is expected to take up to 2 months to complete. The sawed (halved) drill core will be batched and sent for assay throughout the program. Results will be released once data has been received and compiled.
Qualified Person
Peter Dimmell, P. Geo (ON, NL), a technical advisor to Ready Set Gold Corp., and a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical disclosure in this news release.
About Ready Set Gold Corporation
Ready Set Gold Corp. is a precious metals exploration company listed on the Canadian Securities Exchange under symbol RDY. The Company has consolidated and now owns a 100% interest in the Northshore Gold Property, one of Ontario's largest undeveloped prospective gold projects, located in the prolific Schreiber-Hemlo Greenstone Belt near Thunder Bay, which is prospective for gold and silver mineralization. For further information please see the Technical Report on the Northshore Gold Property Thunder Bay Mining Division Priske Township, Ontario, Canada prepared for Ready Set Gold Corp. (formerly Omni Commerce Corp.) dated November 20, 2020 with an effective date of July 10, 2020 on the Company's profile at www.sedar.com. The Company also owns a 100% interest in two separate claim blocks totaling 4,453 hectares known as the Hemlo Eastern Flanks Project. The Company also holds an option to acquire a 100% undivided interest in a continuous claim block totaling 1,634 hectares comprising the Emmons Peak Project located 50 km south of Dryden, Ontario that is near the Treasury Metals Goliath and Goldlund advanced gold development projects.
On Behalf of the Board of Directors,
Ready Set Gold Corp.
"Christian Scovenna"
Chief Executive Officer
Email: info@readysetgoldcorp.com
CEO Direct Line: +1 (416) 453-4709
For further information please contact:
Investor Relations
Tel: +1 (236) 513-4653
Email: info@readysetgoldcorp.com
www.readysetgoldcorp.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements" within the meaning of Canadian Securities laws, including that the Company anticipates testing targets outside the Afric Zone in future drilling programs and the Company anticipates further retaining the drilling contractor to immediately transition into a Phase 2 program upon completion of this first 3,000 meters. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Ready Set Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release including that the Company will test targets outside the Afric Zone in future drilling programs and the Company will further retain the drilling contractor to immediately transition into a Phase 2 program upon completion of this first 3,000 meters. Although Ready Set Gold believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the COVID-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Ready Set Gold to implement its business strategies; competition; the Company will not test targets outside the Afric Zone in future drilling programs; the Company will not further retain the drilling contractor to immediately transition into a Phase 2 program upon completion of this first 3,000 meters and other assumptions, risks and uncertainties.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that is incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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