Vancouver, British Columbia--(Newsfile Corp. - July 9, 2024) - New Destiny Mining Corp. (TSXV: NED), (the "Company" or "NED") announces that it has conducted an initial interpretation of the results from a LiDAR survey completed at its Treasure Mountain North property, located near Tulameen in southern British Columbia. The survey was conducted last season and a preliminary interpretation was completed by the company's technical staff.
Figure 1. LiDAR DEM and features identified with rose diagrams of the different types of lineaments
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The Treasure Mountain North property sits within the Intermontane Belt, which hosts several past and current producing gold, silver, lead, zinc and/or molybdenum mines. The property shows multiple types of mineralization that includes, polymetallic veins, gold-bearing quartz veins, and porphyry-related mineralization.
A helicopter-borne LiDAR survey was completed over an area of 108.2 km2 at the Treasure Mountain North property in 2022 (Figure 1). The survey resulted in two products: a digital elevation model (DEM) and an orthophoto mosaic. The purpose of the survey was to obtain a high-resolution topographic base and updated orthophotos of the area. The DEM was used to identify lineaments related to geological and geomorphological features.
Figure 2. Image of the orthomosaic from the LiDAR survey showing lineaments identified
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Lineaments were identified using a combination of the 1 m resolution DEM (Figure 1) and the 10 cm resolution orthomosaic (Figure 2). The lineaments were interpreted to be either faults/fractures or traces of bedding and associated fold axis (Figure 1). The bedding traces show a dominant trend of NW-SE and a secondary trend of NNW-SSE, these bedding traces can be readily identified on the orthomosaic and even some fold axis have been determined that have a similar NW-SE trend (Figure 1). The faults and/or fractures identified by this dataset show a contrasting trend, with a dominant NE-SW trend (Figure 1).
"We are excited about the preliminary results from the LiDAR survey at Treasure Mountain North. The high-resolution data has provided valuable insights into the geological structures of the area, highlighting significant mineralization potential. These findings will guide our future exploration efforts as we aim to unlock the full potential of this promising property," states Barry Brown, Director.
This dataset sheds light on the structure of area that has seen limited geological mapping due to its remoteness and steep topography. These newly identified folds highlight structural complexity within the sedimentary units of the Jurassic Ladner Group and the Cretaceous Pasayten Group. These folds should be considered for future exploration targeting as these can potentially host mineralization, specially where they are intersected by faults.
Additional features reflecting infrastructure, including logging roads and previous exploration workings, were identified using a combination of the digital elevation model (DEM) (Figure 1) and the orthomosaics (Figure 2).
Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Dr. Mathew Ball, P.Geo., independent consultant to the Company and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.
ON BEHALF OF THE BOARD OF DIRECTORS
"Al Beaton"
Director
604-488-3900
Investor Relations:
Lubica Parilakova
ir@NewDestinyMining.com
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Forward Looking Information
This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, the Company's information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. 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 "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
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SOURCE: New Destiny Mining Corp.
