VANCOUVER, BC / ACCESSWIRE / August 3, 2023 / Relevant Gold Corp. ("Relevant Gold" or the "Company") (CSE:RGC) is pleased to announce it has received approval to list on the TSX Venture Exchange (the "TSX-V"), and outlines the Company's 2023 Exploration Plans at its 15,095 hectare land package in central Wyoming, USA.
- Relevant Gold has completed the process of migrating its listing to the TSX-V to enhance the Company's visibility and provide greater value to existing and future shareholders through increased exposure to domestic and global markets.
- The Company is executing a C$1.3M exploration program in 2023, with the dual objectives of advancing the Golden Buffalo and Lewiston projects and increasing exploration coverage of our entire asset portfolio.
- As part of the TSX-V listing requirements, this news release contains a summary of material results and work completed since May 18, 2022; the effective date of the Company's Golden Buffalo and Lewiston 43-101 technical reports.
The common shares of the Company will be de-listed from the Canadian Securities Exchange at the close on Tuesday, August 8th and commence trading on the TSX-V under the symbol RGC at the open on Wednesday, August 9th.
2023 Work Program
Relevant Gold has designed a C$1.3 million exploration program to advance the Golden Buffalo and Lewiston projects and to increase exploration coverage across the entire asset portfolio throughout 2023. The plan has 4 main goals:
- Undertaking 1,500 metres (m) of diamond drilling at its previously undrilled Lewiston Project;
- Refining drill targets at Golden Buffalo;
- Initiating regional soil surveys across the South Pass portfolio; and
- Mapping and rock chip sampling at Golden Buffalo, Bradley Peak, Shield-Carissa, and Windy Flats projects.
Surface work began in June and drilling is anticipated to start in September pending bond acceptance from the Wyoming Department of Environmental Quality.
"2022's discovery of high-grade gold at surface and in drilling at Golden Buffalo gave proof of concept that Abitibi-style high-grade gold mineralization occurs in Wyoming and provides strong encouragement for evaluating our entire portfolio for Abitibi-scale potential," said Rob Bergmann, Relevant Gold's Chief Executive Officer. "For 2023, we look forward to applying the key exploration insights from that discovery to the first ever Lewiston drilling program and across our broader asset portfolio."
A 1,500-metre core drilling program is planned for this year within the northern Lewiston project area. The Heavy Hand and Northstar areas are previously undrilled targets lying along a 2-kilometer long, 500-meter-wide corridor laced by multiple mineralized shear zones. Numerous rock-chip samples in this area have returned high-grade gold assays (ranging from below detection limit to 62.4 g/t gold) from the surface. This initial drill program is designed as a proof-of-concept program to test: A) alteration and mineralization profiles between sub-parallel shear zones; B) depth to sulfide mineralization below the oxidized zone; C) structural architecture of shears; and D) occurrence of shear-parallel and cross-cutting extensional quartz-sulfide veining (Figure 1).
Figure 1. Left: Bedrock geology and Au-As rock chip geochemistry map of the "Heavy Hand" area of Relevant Gold's Lewiston Property; Right: Conceptual drill target cross-section.
The Company has begun follow-up mapping and rock chip sampling at Golden Buffalo East and West where mapping completed during the 2022 exploration program identified the interpreted offset extensions of the mineralized Golden Buffalo Shear Zone (GBSZ) (Figure 2).
Figure 2. Map illustrating the primary Golden Buffalo Shear Zone (GBSZ) and interpreted extensions to the west and east identified during the 2022 mapping program where work is focusing in 2023.
"2022 exploration proved the Golden Buffalo Shear Zone is a fertile orogenic shear zone with high-grade gold at surface and at depth. Identifying the potential offset extensions both East and West of the main zone is very encouraging and could extend the total strike length to more than 6 km," said Brian Lentz, Chief Exploration Officer.
In addition to the work planned at Golden Buffalo and Lewiston, the Company is increasing exploration coverage across its entire portfolio of assets. The 2023 regional work program has a strong emphasis on rock and soil sampling combined with geologic mapping and geophysics to generate drilling targets for 2024.
Summary of Prior Exploration Work
As part of the TSX-V listing requirements, the following summarizes work completed since May 18, 2022; the effective date of both the Golden Buffalo and Lewiston 43-101 technical reports. The approximately C$3 million 2022 exploration program included 3,500 metres of core drilling and trenching at Golden Buffalo as well as regional mapping and sampling. The primary goal was to identify similarities between the shear-zone hosted gold mineralization at Golden Buffalo and classic Abitibi-style "orogenic" gold mineralization and to identify additional high-potential shear zone targets in the company's 15,095 ha land position in the long underexplored central Wyoming Gold Belt .
The holes reported from the 2022 Golden Buffalo exploration program are the first efforts to identify and characterize district-scale orogenic gold mineralization in the region stemming from recent plate tectonic studies suggesting that Wyoming was connected to the Abitibi Gold Belt at the time of mineralization (~2.6 billion years ago) and was later rifted apart to its present position. The Abitibi Gold Belt is one of the most prolific in the world, producing over 200 million ounces gold from very well characterized mineralization.
The following work was accomplished after May 18, 2022:
- Most of the work conducted primarily focused on the Golden Buffalo project area with limited regional work across the greater portfolio;
- On-going exploration permitting for both the Golden Buffalo and Lewiston projects;
- Exploration commenced in June of 2022 and primarily included regional mapping and sampling and drill planning at Golden Buffalo;
- 13 new prospective orogenic shear structures totaling over 15 km of strike length were identified;
- Drilling and trenching at Golden Buffalo commenced in late July 2022 and was completed at the end of October (Nov 7 press release);
- 26 holes were completed, totaling 3,478m, of HQ and PQ oriented diamond core;
- Post drilling work included data compilation, QA/QC and ongoing geological interpretation of the Golden Buffalo project. Results were published following receipt of final assay results (Feb 6 release and Feb 16 release).
Table 01. Summary of drilling undertaken since May 18th, 2022:
Drilling Highlights include:
- Hole 22GB-012:1 metre (m) core length of 83.8 g/t Au from 170m - 171m and 2m grading 0.17 g/t Au from 171-173m representing a discrete 3m shear zone grading 28 g/t Au.
- 22GB-013:1.29m (core length) of 0.62 g/t Au from 104.32m - 105.61m and 0.84m of 1.16 g/t Au from 138m - 138.84m
- Hole 22GB-006: 3.2m (core length) of 0.53 g/t Au from 32m - 35.2m
- Orogenic/Abitibi-style alteration observed in all 26 drill holes.
- Mineralization was consistently found in individual shear strands within the overall 20m+ wide Golden Buffalo Shear Zone.
- 54% of holes drilled intersected anomalous (>0.1 g/t Au) gold mineralization (see Table 02).
- Drill holes stepping out 400-500m to the North confirmed continuity of multiple mineralized shear zones parallel to the Golden Buffalo Shear Zone (GBSZ).
Table 02. Highlight intercepts of gold assay results from initial 2022 drilling at Golden Buffalo. This table shows all the anomalous gold assay results of >/= 0.1 g/t Au with results of >0.2 g/t as bolded text. All intervals shown above are core length intervals.
Since completion of the 2022 drilling program, the company has been focused on data compilation and modeling, target generation, and 2023 exploration planning.
QA/QC
Samples were submitted to the certified laboratory ALS Minerals, Inc for preparation and assaying at their Twin Falls, Idaho; Reno, NV; Loas, PDR; Hermosillo and Zacatecas, Mexico facilities; additional assaying and analysis were performed at their Reno, USA, Mexico, Loas and North Vancouver, Canada facilities (ALS facility info here). Most samples were fire assayed for gold with the Au-AA24 method using a 50g sample and atomic absorption finish, and some samples were analyzed with the Au-AA23 method using a 30g sample, also with the atomic absorption finish. Additional assay methods included metallic screen fire (Au-SCR24) and gravimetric assays (Au-GRA22). Furthermore, some samples were analyzed for multi-element geochemistry using method ME-MS61 with a 4-acid digestion. ALS employs an internal QA/QC to ensure proper sample preparation and equipment calibration. Additionally, Relevant Gold's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample batches to further monitor lab accuracy, precision and equipment calibration.
All results and QA/QC have been reviewed by Mr. Brian Lentz, CPG, who is the Chief Exploration Officer and Qualified Person for the Company.
About Relevant Gold Corp.
Relevant Gold Corp. is a North American gold exploration company focused on the acquisition, exploration, discovery, and development of district-scale gold projects in the state of Wyoming - one of the most mining friendly jurisdictions in the United States and globally. Founded by experienced exploration geologists, Relevant Gold is managed by a highly respected team with a proven record of significant value creation for shareholders.
On behalf of Relevant Gold Corp.,
Rob Bergmann, Chief Executive Officer
More information
For further information about Relevant Gold Corp. or this news release, please visit our website at www.relevantgoldcorp.com or contact Rob Bergmann, President and CEO, or Kristopher Jensen, Manager of Investor Relations, at 763-760-4886 or by email at ir@relevantgoldcorp.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of Relevant Gold Corp. ("Relevant" or "Relevant Gold" or "the Company"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward looking information. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law.
The scientific and technical contents of this release have been approved by Mr. Brian C. Lentz, CPG #11999, Chief Exploration Officer of the Company, who is a "Qualified Person" as defined by Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Lentz is not independent of the Company.
SOURCE: Relevant Gold Corp.
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