Highlights
- Favorable geophysical results correlate with known surface gold showings.
- Doyle Property covers an area of over 2,365 hectares and is in a geological providential area.
- Historic drillhole results intersected 49.58 g/t gold over one meter and drill hole intersected 17.49 g/t gold over one meter.
Toronto, Ontario--(Newsfile Corp. - August 25, 2021) - Advance United Holdings Inc. (CSE: AUHI) (FSE: 9I0) (the "Company" or "Advance United") is pleased to report on the results of the airborne geophysical surveys completed on its Doyle Property located in the Batchewana area of Ontario.
The airborne geophysical survey, comprising VLE-EM and Magnetics, was completed on the Doyle Property by Terraquest Airborne Geophysics Ltd of Toronto, Ontario. The resulting data was interpreted and reported by independent senior geophysical consultant Mr. Jeremy Brett, P. Geo, a summary of which is presented below with a full report to be published on the Company's website, www.advanceunited.com, in the coming weeks.
The data collected by Terraquest was found to be of excellent quality and Mr. Brett was able to complete detailed interpretation of the resulting data. To facilitate the interpretation, government aeromagnetic data was also obtained, as was detailed elevation data from the SRTM Digital Elevation Model.
The interpretation report identified structural and geologic controls on gold mineralization on the Doyle Property, which can be utilized to focus and direct further exploration of the property.
The results of the interpretation indicates that there are at least two directions of structures on the Doyle Property which trend NNW-SSE and NW-SE with a dihedral angle of approximately 20 to 40 degrees between them. These can be identified on the regional scale (Figure 1) and on the property scale (Figure 2).
The shallow angle of intersection of the two main structural trends had been cited in the past as a favorable area for gold mineralization and concentration, and the curvilinear nature of the structures suggest they wrap around the Grey Owl Lake Pluton.
Interpretation of the VLF-EM data shows a resistivity high which is associated with the main gold occurrences found on surface which may be related to possible alteration by silica (quartz). In addition, the two divergent structural trends can be seen (Figure 3 and 4). Note that the known gold occurrences are associated with the edge of the high resistivity areas. These associations may indicate further areas of potential for gold mineralization on the Doyle Property.
The VLF-EM anomalies also follow the general structural trends. It is noted that the main gold mineralization discovered to date lie along VLF-EM anomalies pointing to the potential for other discoveries along these trends.
Advance United CEO Jim Atkinson states, "We are pleased with the excellent results and the potential of the property and the work that Jeremy has completed on the interpretation of the Terraquest airborne results. We are very excited to now to be developing a follow up program for these promising results and we are confident this will generate new drill targets for 2022. This work program further exemplifies the value of the Company's business model to re-work data to document quantifiable resources and reserves using current standards and modern technology, thus increasing the value."
About the Doyle Property
The Doyle Property is located approximately 92 kilometers southeast of Wawa, Ontario within the Batchewana Volcanic Belt of the Abitibi Province. The structural and geological architecture of the Batchawana Greenstone belt is conducive to a variety of gold depositional environments similar in nature and significance to other gold bearing deposits in Archean-aged greenstone belts hosted within the Superior Province. Noteworthy, these typically fall into the category of "orogenic gold deposit" types in brittle-ductile structurally related regimes similar to the Timmins Gold Camp, the Hemlo Gold Deposits, and the gold deposits of the Doyon-Bousquet Camp in Quebec. Orogenic gold deposit types would be the focus of future exploration activities on the Doyle Property.
The Doyle Property lies within the Batchawana Greenstone Belt of the Wawa-Abitibi Terrane. Both these Terranes are well known for hosting Orogenic Gold Deposits.
Three styles of orogenic gold mineralization occur on the Property. These are, but not limited to:
Gold-enriched semi-massive to massive sulphide horizons in a felsic tuff volcanic pile
Lode gold auriferous quartz veins, and
Disseminated gold in silicified and pyritized shear zones.
The entire Doyle Property consists of a total of 109 unpatented mining claim cells and covers an area of approximately 2,365 hectares.
The most significant and recent exploration on the Doyle Property was carried out by Tri-Origin Exploration which included drilling programs from 1990 - 1995. These programs are deemed significant, and their geological observations support deposit model types being sought. The Focus of the Tri-Origin work was on a model of similarity of the Doyle property geology and mineralization to the Hemlo deposit, which has produced over 21 million ounces of gold1. Tri-Origin completed geological, geophysical, and geochemical programs and drilled a total of 37 drill holes for 8,053 m. Anomalous gold values were intersected in numerous drill holes and visible gold was observed in two holes. Drill hole T94-22 intersected 49.58 g/t gold over one meter and drill hole T95-34 intersected 17.49 g/t gold over one meter.
Further details of the Doyle Property will be available in the Technical Report on Sedar and the Company's website in the coming weeks.
Qualified Person
James Atkinson M.Sc., P. Geo., a Qualified Person ("QP") as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release. The Qualified Person has not completed sufficient work to verify the historic information on the Doyle Property, particularly with regards to historical sampling and regional government-mapped geology. However, the Qualified Person assumes that sampling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Doyle Property but may not be representative of expected results.
About Advance United
Advance United, headquartered in Toronto, Canada, is traded on the Canadian Securities Exchange in Canada under the symbol "AUHI" and the Börse Frankfurt Stock Exchange in Germany under the symbol "9I0."
We are a different kind of Canadian junior mining company, one designed to succeed where other junior mining companies fail. We are involved exclusively in the acquisition and advancement of past producing gold mines - with no intent to bring them back into production or to mine them ourselves. Our expertise is in identifying and acquiring undervalued gold properties with significant historical work, which were uneconomic at the time, but we believe have economic value at today's price of gold.
We fund the development of re-working historic data and applying modern technology to underwrite new qualified reports, document quantifiable resources and reserves to current standards, thereby recognizing the current value.
Our purpose is to bring immediate and long-term value to our partners and shareholders while seeking to eliminate exploration risk, so that we can all advance united in the shortest possible time frame.
For additional information about us, our projects, or to find out how you can get involved please visit www.advanceunited.ca.
Contact Information
James Atkinson P. Geo., CEO
Email: jim.atkinson@advanceunited.ca
Tel: (647) 278-7502
Forward-Looking Information and Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to trading on the CSE and the focus of the Company's business. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "intends", "contemplates", "believes", "projects", "plans" and similar expressions. Forward-looking statements in this news release include statements regarding the Company's ability to increase the value of its current and future mineral exploration properties and, in connection therewith, any long-term shareholder value, the Company's ability to mitigate or eliminate exploration risk, and the Company's intention to develop a portfolio of historic gold properties. Readers are cautioned not to place undue reliance on forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the Company will continue its business as described above. Readers are encouraged to refer to the Company's annual and quarterly management's discussion and analysis and other periodic filings made by the Company with the Canadian securities regulatory authorities under the Company's profile on SEDAR at www.sedar.com. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances or actual results unless required by applicable law.
Figure 1: Regional Scale Structural Interpretation. The property is situated between the Regional Batchawana and Montreal River Fault systems and is influenced by the Grey Owl Lake Pluton.
To view an enhanced version of Figure 1, please visit:
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Figure 2: Property Scale Structural Interpretation Doyle Property. The property occurs in the wedge-shaped intersection of two regional structures. Note the curvilinear nature of many of the interpreted structures in the northern part of the property.
To view an enhanced version of Figure 2, please visit:
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Figure 3. Resistivity depth slice at -25 m based on VLF Inversion. The areas of high resistivity are shown in White along with the major structures in blue.
To view an enhanced version of Figure 3, please visit:
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Figure 4: VLF-EM Conductor Axes. The two general trends are noticeable. Also note that the main gold occurrences are related to VLF-EM anomalies.
To view an enhanced version of Figure 4, please visit:
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1 https://www.barrick.com/English/operations/hemlo/default.aspx
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