4m grading 3.78g/t Au
21m grading 1.29g/t Au
4m grading 5.04g/t Au
VANCOUVER, British Columbia, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Winshear Gold Corp. (TSXV: WINS) ('Winshear' or the 'Company') is pleased to report the results of its 2024 maiden drill program testing the Coritiri Zone at the Gaban Gold Project, South-Eastern Peru. In late 2024, the company completed four diamond drill holes totalling 1,005 metres from two drill sites 100 metres apart (see previous release, Dec 10, 2024). The drill holes intersected numerous gold-bearing fracture zones hosting oxidized sulphides with variable amounts of quartz veinlets (a photo of the drill sites showing the trace of the drill holes is presented in Figure 1).
Highlights from the drilling include:
- 4m grading 3.78 g/t Au from 93m, including 1m grading 14.74g/t Au in hole Gaban 24-02;
- 21m grading 1.29 g/t Au from 102m in hole Gaban 24-02;
- 4m grading 5.04g/t Au from 189m in hole Gaban 24-04
A summary of significant assay results is presented in Table 1 below.
Richard Williams, Winshear's CEO, commented: "We are pleased to see that the first ever drill program at Gaban has confirmed the presence of both narrow high-grade and wider lower-grade zones of gold mineralization. We will spend the next few months planning the next steps for advancing the Gaban Gold Project."
| Drill Hole | From (m) | To (m) | Length (m) | Au (ppm) |
| Gaban 24-01 | 43 | 44 | 1 | 0.36 |
| 114 | 115 | 1 | 0.61 | |
| Gaban 24-02 | 58 | 59 | 1 | 0.40 |
| 93 | 97 | 4 | 3.78 | |
| (Including) | 95 | 96 | 1 | 14.74 |
| 102 | 123 | 21 | 1.29 | |
| (Including) | 102 | 113 | 11 | 1.56 |
| (including) | 115 | 123 | 8 | 1.22 |
| 126 | 130 | 4 | 0.26 | |
| 173 | 174 | 1 | 2.839 | |
| Gaban 24-03 | 49 | 51 | 2 | 0.68 |
| 62 | 66 | 4 | 0.45 | |
| 98 | 102 | 4 | 0.40 | |
| Gaban 24-04 | 88 | 95 | 7 | 0.25 |
| 122 | 123 | 1 | 0.24 | |
| 131 | 133 | 2 | 1.70 | |
| 135 | 136 | 1 | 0.29 | |
| 189 | 193 | 4 | 5.04 | |
| (including) | 203 | 205 | 2 | 0.328 |
Table 1. Significant Assay results at Gaban Gold project*.
*Intervals were derived with a cutoff of 0.10 g/t Au grade. Maximum internal dilution of 1 metre was applied for all drill holes, except for the 21m intercept where a 2m internal dilution was applied. Further drilling is required to determine the true width of the intercepts.
A complete table of intercepts with a 0.10 g/t Au cut off is presented at the end of this announcement.
The drill program at the Coritiri Gold Zone confirmed the presence of a weakly to moderately sheared sequence of intercalated slate and fine siltstones with some crosscutting fine-grained microdioritic sills. The sequence contained sections with millimetre to centimetre sized quartz veins/veinlet zones hosting pyrite and pyrrhotite. Fine disseminated sulphide minerals were also observed in the sheared sedimentary host rock sequence.
The Coritiri Gold Zone was initially identified from interpretation of airborne magnetic data, flown in 2018, which inferred the presence of an 8 km x 1 km NW-SE linear target adjacent to a 6.5 km x 3.0 km northwest-southeast trending magnetic high. The geophysical anomaly is coincident with a five (5) kilometre long series of gold-in-stream sediment anomalies located within the Yanamayo River catchment. The underlying geology of the area comprises sheared and deformed siltstones and slates with foliation typically striking northwest-southeast and dipping moderately to the southwest.
There are several prospect pits and short adits on outcropping quartz veins where visible gold has been sampled and mapped, historical assays have ranged from below detection limits up to 32.35 g/t Au, (see NR July 06, 2021).
Winshear set out to test several shear-hosted gold zones that have returned significant gold values in several surface channel sampling programs. Previous sampling campaigns have outlined a gold mineralized shear zone extending over a one kilometre by two kilometre area with quartz vein sampling returning gold assays ranging from below detection limit (<0.005 g/t) up to 11.2 g/t Au, (see Winshear NR Jan 18, 2021). The gold anomalous zone remains open along strike to the east and southeast.
Gaban is located in the Puno Orogenic Gold Belt ("POGB") at the juncture of the San Gaban and Inambari Rivers, which then drain into the Madre de Dios basin where extensive alluvial gold mining covers an 1,800 square kilometre area (Figure 2). The Company is investigating Gaban as one of the potential hard-rock sources for the alluvial gold being mined at Madre de Dios and on the Gaban project itself.
Winshear employs industry standard QA/QC and data verification protocols. The diamond drill holes were completed using standard HQ rods. The drill core was cut lengthwise into halves using a diamond-bladed saw, with one-half used for the assay sample and the other half retained in core boxes and archived at the company storage warehouse in Juliaca, Peru. Pulps and rejects are stored initially at the Certimin S.A. laboratories and later will be stored on site at the company's storage warehouse in Juliaca for archival purposes. Mineralized zones were generally sampled at 1m or 2m intervals depending on the geologist's observed strength of mineralization and geological variability. Each core sample was placed into a bag with a unique numbered sample identification tag. Two certified fine and coarse quality blank control samples were inserted between every 30 core samples and one certified standard was inserted every 20 samples using the same numbering sequence. Then samples were grouped into batches for shipping and laboratory submissions. Chain of custody records are maintained for sample shipments and the custody is transferred from Winshear to the laboratory upon delivery.
Samples were shipped to Certimin S. A. Laboratories in Juliaca, Peru for sample preparation and pulps are then sent by Certimin to Lima for analysis. Samples were analyzed using customary four acid digestion and ICP-MS finish. A standard gold fire assay package was used to analyze gold. Laboratory Certimin S.A. is an independent laboratory accredited and certified by INACAL - DA of Peru, Registro No LE-022.
| Drill Hole | From (m) | To (m) | Length (m) | Au (ppm) |
| Gaban 24-01 | 26 | 27 | 1 | 0.19 |
| 43 | 44 | 1 | 0.36 | |
| 46 | 49 | 3 | 0.13 | |
| 52 | 53 | 1 | 0.10 | |
| 63 | 64 | 1 | 0.20 | |
| 99 | 101 | 2 | 0.10 | |
| 108 | 109 | 1 | 0.11 | |
| 114 | 115 | 1 | 0.61 | |
| 181 | 182 | 1 | 0.14 | |
| Gaban 24-02 | 23 | 25 | 2 | 0.14 |
| 58 | 59 | 1 | 0.40 | |
| 93 | 97 | 4 | 3.78 | |
| (Including) | 95 | 96 | 1 | 14.74 |
| 99 | 100 | 1 | 0.19 | |
| 102 | 123 | 21 | 1.29 | |
| (including) | 102 | 113 | 11 | 1.56 |
| (Including) | 115 | 123 | 8 | 1.22 |
| 126 | 130 | 4 | 0.26 | |
| 168 | 170 | 2 | 0.10 | |
| 173 | 174 | 1 | 2.83 | |
| 223 | 224 | 1 | 0.15 | |
| Gaban 24-03 | 49 | 51 | 2 | 0.68 |
| 62 | 66 | 4 | 0.45 | |
| 87 | 89 | 2 | 0.16 | |
| 98 | 102 | 4 | 0.40 | |
| 120 | 121 | 1 | 0.13 | |
| 152 | 154 | 2 | 0.11 | |
| Gaban 24-04 | 67 | 69 | 2 | 0.14 |
| 88 | 95 | 7 | 0.25 | |
| 122 | 123 | 1 | 0.24 | |
| 131 | 133 | 2 | 1.70 | |
| 135 | 136 | 1 | 0.29 | |
| 189 | 193 | 4 | 5.04 | |
| 199 | 201 | 2 | 0.14 | |
| 203 | 205 | 2 | 0.32 |
Table 2. Gold intercepts with a 0.10 g/t cut-off *.
Technical Information
J. Patricio Varas, P. Geo. is Winshear's President and is a Qualified Person as defined by National Instrument 43-101. He has reviewed and approved the contents of this news release. Mr. Varas has visited Winshear's Gaban exploration project and has reviewed the data from sampling programs for the project.
About Winshear Gold Corp.
Winshear Gold Corp. is a Canadian-based minerals exploration company advancing the Gaban Gold Project in the Puno region of Peru. The Company considers Gaban to be one of the hard-rock sources of gold contributing to the 700 km2 Madre de Dios alluvial goldfield, located 50 km north of, and downstream from, the Gaban gold project.
For more information, please contact Irene Dorsman at +1 (604) 200 7874 or visit www.winshear.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard Williams, CEO
Neither the 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.
Cautions Regarding Forward-Looking Statements
This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements and contain forward-looking information.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the risks normally associated with mineral exploration. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
