Highlights
Gossan has defined three highly prospective drill targets. These targets have resulted from an additional gravity survey which has confirmed the existence of three substantial anomalies. These anomalies coincide with several electromagnetic, magnetic, and geochemical anomalies identified previously, and indicate that the volcanic stratigraphy that hosts the past-producing
Diamond drilling of up to 4,000 metres has commenced, and will target the three prospective targets. It is anticipated that the holes will target varying depths from 100 to 400m in depth.
The purpose of the drill program is to follow up on the coincident anomalies; to test for the presence of economic VMS-style massive sulphide deposits and to identify the causal source of the substantial gravity anomalies.
Gossan's President & CEO
Additional Gravity and Drill Hole Targeting
This Fall, Gossan completed an additional gravity survey expanding the area coverage of its 2018 gravity survey. The survey extended the coverage area to the North, North East and West of
Coincident electromagnetic, magnetic, and geochemical anomalies are based on work performed between 2009 and 2021. Geophysics, known geology and past drilling strongly suggest that the volcanic stratigraphy hosting the past-producing mines extend eastward through to the Gossan's Glitter Property. This was confirmed with the 2018 drill program, which intersected non-economic massive sulphides up to 4.5m thick. Based on this information, Gossan has defined three prospective target areas for drill testing; namely the 'Glitter West', 'Glitter North', and the 'Glitter East' zones.
Diamond Drilling Program
The Company has broken ground on a diamond drilling program of up to 4,000 meters in up to 15 drill holes. The program is expected to test the three prospective horizons; 'Glitter West', 'Glitter North', and 'Glitter East.' It is anticipated that the holes will target varying depths from 100 to 400m. The drill is on site and has commenced drilling of hole 21-01. The program is expected to extend between
Drill Program Objectives
The objective of the program is to follow up on the coincident anomalies and to test for the presence of economic VMS-style massive sulphide deposits similar to those of the
About the Glitter Property
Gossan's 4,500-hectare Glitter Property lies within the zinc-copper-silver rich polymetallic Sturgeon Lake Greenstone Belt in northwestern
About
Contact:
Tel: (202) 677-8513
Email: info@gossan.ca
Cautionary Statement on Forward-Looking Information
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, uncertainty over the outcome of any litigious matters, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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