Highlights
- Advance United acquires Doyle Property historic files and technical assets from TriOrigin Exploration, including detailed drill logs for 37 drillholes, geophysical surveys, geological mapping, and sampling.
- 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.
- Orix Geoscience contracted to complete the Compilation Report of historic documents and integration of recent 2021 work program using modern software and modelling techniques.
Toronto, Ontario--(Newsfile Corp. - September 24, 2021) - Advance United Holdings Inc. (CSE: AUHI) (FSE: 9I0) (the "Company" or "Advance United") is pleased to announce the Company has engaged Orix Geoscience to complete a Compilation Report of all assets on the Company's Doyle Property.
The Company recently acquired TriOrigin Exploration's (now NewOrigin Gold Corp.) previous work products on the Doyle Property in the Batchawana Greenstone Belt in Northern Ontario, Canada which further exemplifies the value of the Company's business model to acquire and re-work data to modern standards and increase value.
The historic work includes previously completed field work, which comprises detailed drill logs for thirty-seven (37) drill holes, Induced Polarization (IP) surveys, geological mapping and sampling.
The most significant and recent exploration on the Doyle Property was carried out by Tri-Origin Exploration which included drilling programs from 1990 to 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 Depositi, which has produced over 21 million ounces of gold according to information published on 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.
Orix Geoscience Ltd., of Toronto, Ontario has been contracted to complete the Compilation Report of historic documents and integration of recent 2021 work program using modern software and modelling techniques.
Modeling of the controls of gold mineralization and its relation to known geological and geophysical anomalies will assist in the preparation of effective and efficient work programs on the property.
Orix is a Canadian geological consulting firm advancing strategic exploration and mining through the integration of data and innovative geological understanding, operating cohesively within three Canadian offices: Toronto, Winnipeg, and Sudbury. Orix is a multi-faceted team of diverse and motivated geologists and data experts whose specialized services include scanning, cleaning, reorganizing, digitizing, compiling, interpreting, and modeling large datasets, and boots on the ground support through to target generation and executing field programs.
"We are very optimistic as we continue to build on the excellent results from past work on The Doyle Property to prepare a follow-up work plan for 2022 which may include drilling to further delineate and understand the potential deposit. 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," states Advance United CEO Jim Atkinson.
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 Depositsii, 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.
Further details of the Doyle Property may be available in the Technical Report on Sedar and the Company's website is the coming weeks.
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
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.
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.
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i https://www.barrick.com/English/operations/hemlo/default.aspx
ii https://www.barrick.com/English/operations/hemlo/default.aspx
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97618
