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STLLR Gold Intersects 1.97 g/t Au over 41.5 m at the Colomac Main Deposit and Wide Zones of Mineralization Near Windjammer Central

13.06.2024  |  Newsfile

Toronto, June 13, 2024 - STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) ("STLLR" or the "Company") announces assay results from the exploration drilling at the Colomac Gold Project in the Northwest Territories and at the Tower Gold Project in the Timmins Mining Camp in Ontario.

Table 1: 2024 Exploration Drilling Highlights - Colomac Main Deposit, Windjammer Central, and Windjammer South (See Figures 1-8):

Zone Hole ID Assay Result
Colomac Main C24-01 1.97 g/t Au over 41.50 m (incl. 2.96 g/t Au over 21.25 m, also incl. 7.40 g/t Au over 2.55 m)
Windjammer Central MGH24-525 0.88 g/t Au over 67.35 m (incl. 1.11 g/t Au over 33.00 m)
Windjammer Central MGH24-523 1.13 g/t Au over 24.00 m within 0.63 g/t Au over 118.00 m
Windjammer South MGH24-509 6.52 g/t Au over 2.10 m


"g/t Au": grams per tonne gold; "m": metres

Keyvan Salehi, P.Eng., MBA, President, CEO, and Director of STLLR stated: "Our exploration drilling continues to yield promising results. We intersected high-grade, coarse-gold mineralization at the Colomac Main Deposit in an area outside the estimated 2023 Colomac PEA1 pit-shell that had limited drilling data. At Windjammer Central, we intersected wide zones of mineralization in areas outside the known mineralization."

"We anticipate receiving more exploration drill assay results from the Colomac Gold Project and the Tower Gold Project in the coming weeks. Stay tuned for further updates."

Colomac Gold Project Drilling - Colomac Main Deposit (See Figures 1-5)

The Colomac Main Deposit, the primary deposit of the Colomac Gold Project, occurs in a north-south striking differentiated mafic sill, approximately 9 km long and up to 155 m wide, bounded by mafic volcanic rocks. Mineralization is predominantly free-gold spatially associated with quartz-carbonate veining and minor sulphides.

The Colomac Main Deposit has been arbitrarily divided into 6 mineralized zones along strike. Drilling in 2024 is focused on the southern-end (Zones 2.5, 3.0, & 3.5) of Colomac Main, targeting areas where there is the lack of drilling information and has the potential to intersect higher-grade, open-pit gold mineralization. Hole C24-01 targeted Zone 2.5 and intersected coarse-gold mineralization within the quartz-diorite.

Figure 1: Colomac Main - Photo #1 of Coarse-Gold Intersected by Hole C24-01 (287.3 m)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4852/212773_31a27baef43b6aee_001full.jpg

Figure 2: Colomac Gold Project - Property Map

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https://images.newsfilecorp.com/files/4852/212773_31a27baef43b6aee_002full.jpg

Figure 3: Colomac Main - Exploration Results Map

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https://images.newsfilecorp.com/files/4852/212773_31a27baef43b6aee_003full.jpg

Figure 4: Colomac Main - Exploration Drilling Cross Section "A-B" Looking North

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https://images.newsfilecorp.com/files/4852/212773_31a27baef43b6aee_004full.jpg

Figure 5: Colomac Main - Photo #2 of Coarse-Gold Intersected by Hole C24-01 (298.4 m)

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https://images.newsfilecorp.com/files/4852/212773_31a27baef43b6aee_005full.jpg

Tower Gold Project Drilling - Golden Highway Exploration Targets (See Figures 6-8)

STLLR has identified several high-potential exploration targets in the Golden Highway area of the Tower Gold Project (See Figure 6 for the Drill Location Map). These targets are located outside of the known mineralization and drilling will test either the potential extensions of the known mineralization or areas where the geological interpretation appears favourable for new gold discoveries.

Windjammer Central

Windjammer Central is a continuation of the Windjammer Deposit located immediately north of the regional Banded Iron Formation, hosted in Timiskaming-age, clastic sediment-hosted stacked quartz veins. The mineralization is bound to the north by the mafic to ultramafic units associated with the Discovery Deposit. Hole MGH24-523 intersected broad mineralization in an area not previously drilled. Hole MGH24-525 intersected mineralization outside the 2022 Tower MRE2 block model.

Windjammer and Southwest South Limb Targets

Windjammer South and Southwest mineralization are primarily associated with the Timiskaming-age, clastic sediment-hosted stacked quartz-veins located immediately south of the regional Banded Iron Formation on the north limb of a folded basin. Drilling at Windjammer South and Southwest tested the potential for similar mineralization controls along the south limb of the basin. Initial results confirm continued gold mineralization along the primary mineralizing structures. Based on positive indications that the mineralized system continues within the southern portion of the basin, follow up work is required in the winter.

Figure 6: Tower Gold Project - Drill Location Map

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https://images.newsfilecorp.com/files/4852/212773_31a27baef43b6aee_006full.jpg

Figure 7: Windjammer Central - Exploration Results Map

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https://images.newsfilecorp.com/files/4852/212773_31a27baef43b6aee_007full.jpg

Figure 8: Windjammer Central - Exploration Drilling Cross Section "E-F" Looking Northwest

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https://images.newsfilecorp.com/files/4852/212773_31a27baef43b6aee_008full.jpg

Table 2: Exploration Drilling Intercepts

Target Hole ID From
(m)
To
(m)
Interval
(m)
Grade
(g/t Au)
Metal Factor
(g/t Au x m)
Colomac Main C24-01 271.00 312.50 41.50 1.97 81.76
Colomac Main including 274.00 295.25 21.25 2.96 62.90
Colomac Main also Including 290.50 293.05 2.55 7.40 18.87
Windjammer MGH24-523 57.00 65.00 8.00 0.45 3.60
Windjammer and 143.00 146.00 3.00 0.39 1.17
Windjammer and 180.00 192.00 12.00 0.36 4.32
Windjammer and 355.00 376.00 21.00 0.68 14.28
Windjammer including 359.00 360.00 1.00 4.47 4.47
Windjammer and 388.00 506.00 118.00 0.63 74.34
Windjammer including 388.00 396.00 8.00 1.2 9.60
Windjammer and including 482.00 506.00 24.00 1.13 27.12
Windjammer MGH24-525 241.00 283.00 42.00 0.46 19.32
Windjammer including 273.00 277.15 4.15 1.73 7.18
Windjammer and 311.00 378.35 67.35 0.88 59.27
Windjammer including 338.00 371.00 33.00 1.11 36.63
Windjammer South MGH24-508 368.53 370.00 1.47 0.935 1.37
Windjammer South and 489.00 491.00 2.00 0.55 1.10
Windjammer South and 550.00 553.00 3.00 0.91 2.73
Windjammer South MGH24-509 174.00 176.10 2.10 6.52 13.69
Southwest MGH24-510 157.05 163.00 5.95 1.57 9.34
Southwest MGH24-513 No Significant Intervals
Southwest MGH24-514 338.00 340.00 2.00 2.52 5.04
Southwest MGH24-522 117.20 119.90 2.70 2.09 5.64
Note: All intercepts are calculated using a 0.30 g/t Au cut-off, a maximum of 5m internal dilution and no top cap applied. Drill intercepts are not true widths.

Table 3: Exploration Drill Hole Details

Zone Hole ID Easting Northing Elevation Azimuth Inclination End of Hole Depth (m)
Colomac Main C24-01 592031.99 7141821.01 365.00 270.00 -70.60 369
Windjammer MGH24-508 572508.77 5369998.60 336.38 50.03 -55.08 699
Windjammer MGH24-509 572722.30 5369945.13 376.95 50.01 -55.17 510
Windjammer MGH24-523 571675.08 5370366.99 351.06 29.96 -55.03 507
Windjammer MGH24-525 571883.21 5370658.61 351.87 30.13 -55.03 489
Southwest MGH24-510 571614.68 5369340.51 348.88 24.01 -55.02 636
Southwest MGH24-513 571615.05 5369340.12 349.01 45.09 -55.14 426
Southwest MGH24-514 571427.42 5368997.34 347.49 19.95 -55.17 540
Southwest MGH24-522 571780.95 5368995.16 350.87 30.15 -55.04 642

Quality Control Procedures

NQ drill core is oriented and cut with half sent to ALS Laboratories Inc. (ALS) for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). ALS is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. STLLR inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates, as well as completing routine third-party check assays at Bureau Veritas Commodities Canada Ltd.

Qualified Person

John McBride, MSc., P.Geo., Vice President of Exploration for STLLR, who is the "Qualified Person" as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release.

About STLLR Gold

STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) is a Canadian gold development company actively advancing two cornerstone gold projects in Canada: The Tower Gold Project in the Timmins Mining Camp in Ontario and the Colomac Gold Project located north of Yellowknife, Northwest Territories. Each of these two projects has the potential for a long-life and large-scale operation and are surrounded by exploration land with favourable upside potential. STLLR's experienced management team, with a track record of successfully advancing projects and operating mines, is working towards rapidly advancing these projects.

Contact Us
STLLR Gold Investor Relations
+1 (416) 863-2105 | investors@stllrgold.com | www.STLLRgold.com

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the potential expansion of the known mineralization at the Tower Gold Project and Colomac Gold Project, the discovery of new gold mineralization, the timing of the release of the assay results, the goals, synergies, strategies, opportunities, profile, mineral resources and potential production, project timelines, prospective shareholding, integration and comparables to other transactions, the future financial or operating performance of STLLR and STLLR's mineral properties and project portfolios, the advancement of the Tower Gold and Colomac Gold Projects, long-life and large-scale potential of the Tower and Colomac Gold Projects and exploration upside of the land packages. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "accelerate", "add" or "additional", "advancing", "anticipates" or "does not anticipate", "appears", "believes", "can be", "conceptual", "confidence", "continue", "convert" or "conversion", "deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding" or "expansion", "expect" or "expectations", "fast-track", "forecasts", "forward", "goal", "improves", "increase", "intends", "justification", "leading", "plans", "potential" or "potentially", "pro-forma", "promise", "prospective", "prioritize", "reflects", "re-rating", "robust", "scheduled", "stronger", "suggesting" or "suggests", "support", "updating", "upside", "will be" or "will consider", "work towards", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".

Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of STLLR to be materially different from those expressed or implied by such forward-looking information, including risks associated with required regulatory approvals, the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, the ongoing wars and their effect on supply chains, environmental risks, COVID-19 and other pandemic risks, permitting timelines, capex, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the Company's Annual Information Form for the year ended December 31, 2023, available on www.sedarplus.ca. Although STLLR has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. STLLR does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

________________________
1 For more information on the Colomac Gold Project Preliminary Economic Assessment ("2023 Colomac PEA"), please refer to the NI 43-101 technical report titled "Colomac Gold Project NI 43-101 Technical Report and Preliminary Economic Assessment, Northwest Territories, Canada" dated June 9, 2023 which is available on SEDAR+ www.sedarplus.ca the Company's website (www.nighthawkgold.com).
2 For more information on the Tower Gold Project Mineral Resource Estimate ("2022 Tower MRE") and Preliminary Economic Assessment ("2022 Tower PEA") effective as of September 7, 2022, please refer to the NI 43-101 technical report titled "NI 43-101 Report & Preliminary Economic Assessment of the Tower Gold Project Northeastern Ontario, Canada" dated November 29, 2022, which is available on STLLR Gold's profile on SEDAR+ www.sedarplus.ca and www.stllrgold.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212773


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