Giant Mining Corp. Prepares to Mobilize for 16-Hole Reverse Circulation Drill Program at Majuba Hill
VANCOUVER, September 12, 2024 - Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5) ("Giant Mining" or the "Company") is pleased to announce that it is preparing for the planned 16-hole reverse circulation ("RC") drilling program at the Majuba Hill Porphyry Copper Deposit ("Majuba Hill"), a copper, silver, and gold project located in Pershing County, Nevada. As previously announced, the Company has engaged Boart Longyear Limited ("Boart Longyear"), a global leader in drilling services, based in Elko, NV, to conduct this significant drilling program. The RC drilling campaign is designed to drill up to 12,800 feet (3,901 meters) across 16 strategic holes. The contract with Boart Longyear allows for flexibility in the execution of the project, enabling the Company to adjust the scope of the drilling as needed to achieve optimal results.
David Greenway, CEO of Giant Mining Corp., stated, "Engaging Boart Longyear for our RC drill program at Majuba Hill is a crucial step in advancing our exploration efforts. This program is designed to build on the results of our recent core drilling and provide the necessary data to enhance our resource estimates. We are eager to see the potential insights and results this program will yield as we continue to advance the Majuba Hill project."
Drilling will focus on the drill targets which are designed to infill and expand the mineral potential at Majuba Hill. This drill program is laid out to expand known mineral zones and identify new areas of mineralization. By concentrating on these specific targets, the drilling program will provide the additional drill holes needed to expand and verify the continuity of the copper mineralization.
This drilling is essential for refining the geological model of Majuba Hill, significantly enhancing Giant Mining's resource evaluation efforts. The data collected from this program will enable the company to update its resource estimates with greater precision, ultimately contributing to the advancement and economic assessment of the project. By exploring and defining the mineral potential, the Company aims to optimize the development strategies for Majuba Hill, aligning with our commitment to creating shareholder value through meticulous exploration and resource management.
Furthermore, assays are currently pending for MHB-30 one of the recently completed holes in the core drilling program. MHB-30 core samples have been sent to ALS Global Services ("ALS Labs") in Elko, Nevada, for complete assaying. MHB-31 core is in the final stages of sawing at Woods Process Services in preparation for sending the samples to ALS Labs for analysis.
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Figure 1: MHB-30 Copper Mineralized Fragments in Magmatic-Hydrothermal Breccia
The recent core drilling intersected magmatic-hydrothermal breccia bodies in core holes MHB-30 and MHB-31, as can be seen in Figures 1 and 2. Drill hole MHB-31 drilled in the gap zone between whittle pits 13 and 43 as shown on Figure 2.
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Figure 2: MHB-31/9.5 meters (31 feet) Copper Mineralized Fragments in Magmatic-Hydrothermal Breccia
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Figure 3: Giant Mining planned drill holes in green and grade domain with recent and historic drill holes.
About Boart Longyear
Established in 1890, Boart Longyear is the world's leading innovative provider of drilling services, manufacturer of productivity-driven drilling equipment and performance tooling, and developer of orebody-data technology, revolutionizing the future of mineral development. With a rich heritage of more than 133 years in operation, the Company continues to build value for customers worldwide.
Boart Longyear also has a substantial presence in aftermarket parts and service, energy, mine dewatering, oil sands exploration, production drilling, and down-hole exploration. Headquartered in Salt Lake City, Utah, the Company operates in 26 countries with close to 6,000 employees at the end of 2023.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by E.L. "Buster" Hunsaker III, CPG 8137, a non-independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101").
About Giant Mining Corp.
Giant Mining Corp. is engaged in the identification, review and acquisition of latter stage copper and copper/silver/gold assets. This is in direct response to the growing worldwide demand and lack of supply for precious metals fueled by the Green New Deal in the US and most other developed nations with similar programs aimed at addressing climate change. Such programs are heavily reliant on silver, gold and especially copper to produce Electric Vehicles and other renewable power sources, as well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper, silver and gold District located 156 miles (251 km) outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions where government regulations are supportive of mining operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Giant Mining Corp.
"David Greenway"
David C. Greenway
President & CEO
For further information, please contact:
E: info@giantminingcorp.com
P: 1 (604) 499-6791
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www.giantminingcorp.com
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Forward-Looking Statements
This news release contains certain statements that may be deemed "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. Although Giant Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Giant Mining Corp. management on the date the statements are made. Except as required by law, Giant Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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