Vancouver, BC -- Rapier Gold Inc. (TSX-V: RPR) (the "Company") has completed the key stages of the summer field season at Pen Gold Project and is now proceeding with preparation for the winter drill program to commence in early January 2017.
Warm weather enabled field work to continue a month longer than originally planned. Mapping, prospecting, surface grab and channel sampling were completed over an area of 3,300 hectares, representing approx. 20% of the Pen Gold Project area. Two stages of work remain to be completed before year end: soil sampling and geo referencing.
Roger Walsh, the Company's President commented: "The summer season was very successful in identifying significant new areas on the Pen Gold Project for follow up drilling based on broad zones of anomalous gold associated with favourable rock types, hydrothermal alteration, and structure. This large and interesting property is shown to have anomalous gold in several different settings, and will require patient and persistent exploration. With the known gold-bearing drill intercepts to be followed up and these exciting new target areas to be tested, we look forward to commencing the winter drill program".
The summer work has identified three new drill target areas in addition to the two target areas already identified from previous work. The proposed winter drill program contemplates 20 to 30 diamond drill holes totaling approx. 5,000 to 8,000 m and will take approximately three months to complete.
Higher priority areas will be drilled first, with enough flexibility to allow for follow-up drilling at the tail end of the program, should results justify returning to those areas. The drill holes will be targeted to follow up on previous gold intercepts, and to test below two new surface areas for deeper gold-bearing structures. These areas demonstrate anomalous gold and favourable structures and alteration. This method will ensure the best corridors for gold mineralization are effectively tested, allowing for follow-up drilling during winter, and planning of subsequent 2017 exploration.
The new drill target areas are:
Follow-up of previous drilling will target:
Refer to Appendix 1 for map of drill target areas.
In November, twelve claims totaling 2,173 hectares adjoining the eastern and southern boundaries of Pen Gold Project were staked. These claims bolster the Company's land position and also allow for testing of concepts within our exploration model, while limiting encroachment on the property by other claimholders. Refer to Appendix 2.
A 700 auger hole soil sampling program is in progress in the Porphyry Hill Area and should be completed by mid-December. The purpose of this program is to determine whether this type of geochemical survey can provide fruitful results in locating mineralized areas with a broader anomalous signature.
A thorough review of all available geochemical data will be undertaken to determine what other tools are available for determining mineralization vectors and alteration patterns conducive to gold mineralization on the property.
In the summer field season 1,308 grab rock samples were taken for assaying for gold and multi-element analysis. Samples from previous years are in the process of having multi-element analysis completed. This new information will be used along with the gold analysis to help with rock type and alteration characterization, as well mineralization vectoring. Multi-element geochemistry is being run to determine if other mobile elements on the property have a relationship to gold mineralization. If a relationship is found, this signature may be used to vector in on gold mineralization. Refer to Appendix 3 (a).
Of the samples submitted for analysis, more than 60 samples returned gold values of >50 ppb, indicating significant anomalous gold values throughout the property, considering outcrop exposure is less than 15% of the property. Compilation of results awaits the return of all samples, which are expected early in December. Refer to Appendix 3 (b).
Mechanical stripping will be conducted in spring and early summer at the Broadsword Area to expand exposure east and west of the drill corridor, and at other locations after geological and geochemical data compilation and interpretation are completed over the winter. These are areas where extremely complex geological relationships, large scale structures and/or alteration have been observed, but more work is needed to determine if drilling is warranted.
Pen Gold Project Summary
Quality Assurance -- Quality Control ("QA/QC")
Industry best practices are followed on the project including the routine insertion of blank and standard samples in all grab samples. The samples are submitted directly to Actlabs in Timmins for preparation and analysis. Gold analyses are conducted on 1 assay-ton aliquots, using fire assay methods with an atomic absorption finish up to 5 g/t Au and with a gravimetric finish above.
Gary Wong, P. Eng., Vice-President Exploration of the Company, and a Qualified Person under the definition in National Instrument 43-101, has reviewed and approved the technical content of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Roger Walsh, President & CEO
Contact: Roger Walsh
Phone: (604) 617-1627
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 news release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain financing, or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly 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 required by law.
|Sample||Easting||Northing||Au (ppb)||Au (g/t)||Occurrence Area|
|1477857||423679||5335756||169||0.169||Green Carbonate A|
|1477989||423685||5335763||130||0.13||Green Carbonate A|
|1027284||422868||5335678||51||0.051||Green Carbonate B|
|1470795||422733||5334776||106||0.106||In between Trenches|
|1470797||422744||5334774||63||0.063||In between Trenches|
|1470801||422753||5334773||95||0.095||In between Trenches|
|1470802||422755.5||5334772||125||0.125||In between Trenches|
|1470803||422757.5||5334771.5||52||0.052||In between Trenches|
|1470790||423229||5334933||243||0.243||West of Sabre|
|1027298||422977||5336233||119||0.119||West of trail|
|1477505||422975.5||5336232||57||0.057||West of Trail|
|1477510||422981||5336254||57||0.057||West of Trail|