Highlights
- Favorable summer work program indicates a high potential zone which extends beyond the previously existing claims.
- 57 new and additional claims encompass this high potential zone and expand Doyle Property to 2,850 hectares in size.
- Expanded area includes similar geological units to those seen on the original Doyle Property and 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.
Toronto, Ontario--(Newsfile Corp. - September 14, 2021) - Advance United Holdings Inc. (CSE: AUHI) (FSE: 9I0) (the "Company" or "Advance United") is pleased to report that based on the results of the recent interpretation of the Terraquest airborne survey (see related press dated August 24, 2021) and on known and potential geological extensions of favorable geology the Doyle Property has been expanded by the addition of 57 additional claims.
The geophysical interpretation report identifies structural and geologic controls for gold mineralization on the Doyle Property which have were utilized to identify the new claim areas and the expansion of the property. The expansion is based on extension of VLF anomalies, similar topographic features, similar resistivity responses, and newly discovered favorable geological units.
The claims have been added in three general areas east, north, and west of the existing property (Figure 1). These extend the to cover extensions of potential gold bearing structures identified in the interpretation of the airborne survey.
Interpretation of the VLF-EM data shows many anomalies extending off the property, some of which are known to host mineralization. These are designated No 1, No. 2A and No. 2B on Figure 2. Also of interest is a resistivity high associated with a major fault - designated No. 3 on Figure 2 which is similar to the feature associated with the main gold occurrences found on surface and may be related to possible alteration by silica (quartz). This is thought to be a significant alteration feature. A similar resistivity high was identified on the northwestern boundary of the existing property and the decision was made to add additional claims in this area.
Other areas were added to cover proposed extensions of VLF-EM anomalies described in the interpretation report. In addition, a previously described "brecciated iron formation" with sulphide mineralization is located on property added to the northeast. These types of units are known to host gold mineralization in other areas.
Advance United CEO Jim Atkinson states, "We are pleased with the excellent results obtained from the airborne survey and are excited to expand our footprint to cover extensions of known trends. We are preparing a work program to include these new areas and will be completing follow-up work in 2022. This further exemplifies the value of the Company's business model to re-work data to document potential, quantifiable resources and reserves using current standards and modern technology, thus increasing the value of the property."
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 of which 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 166 unpatented mining claim cells and covers an area of approximately 2,820 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 gold according to Barrick Gold's website. 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.
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: New claims added to Doyle Property.
To view an enhanced version of Figure 1, please visit:
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Figure 2: Location of features captured in expanded claim group.
To view an enhanced version of Figure 2, please visit:
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96429
