TORONTO, May 25, 2022 (GLOBE NEWSWIRE) -- Stone Gold Inc. (TSX-V: STG) ("Stone Gold" or the "Company") announces that diamond drilling has encountered copper mineralization in Phase 1 diamond drilling in the Breton Breccia at the former Tribag Mine Zone located on the 21,000-hectare Copper Road Project, located approximately 80 km. north of Sault St. Marie, Ontario, Canada.
Figure 1: Tribag Zone is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d8cb23f2-07eb-4095-83e4-0649ec8f328c
Figure 2: Phase 1 drilling is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/879f7a94-50eb-4321-beb7-66c871cc303e
TR22-001, 000AZ, -80 dip, 380 metres depth, the first 100 metres is a fractured, well indurated, altered granite which gradually becomes more brecciated continuing to the bottom of the hole at 380m. 144 samples have been cut and submitted for analyses encompassing the bottom section of the hole.
The brecciation, mostly disseminated pyrite sulphides and sampling extend to the end of the hole, showing no sign of decreasing in intensity. In terms of other sulphide mineralization, besides chalcopyrite, there is rare galena, possible stibnite needles and small specks of chalcocite.
TR22-002, 045AZ, -70dip, 255.8 metres depth, significantly more sulphides noted in TR22-002 in comparison to 001, ranging from 5-10% throughout approaching 15% in the first 50 and last 50 metres. Classic polymictic Breccia with rounded 5 to 20 cm mafic and porphyritic felsic clasts with quartz flooding injections throughout, Breccia intermittently cut-up by 1-2 metre mafic dykes, and larger granite fragments. Sulphides mostly consists of pyrite of variable hues with 2% chalcopyrite blebs occurring as blebby disseminations and filling fractures with rare galena, chalcocite and bornite specks. Several 3-6 cm diameter clots of chalcopyrite noted dispersed at beginning and towards end of hole. The complete hole has been laid out for sampling.
Figure 3: Hole # TR22-02: Sample shown is at 67 metres depth is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5be2c408-e92a-4991-8eff-454933c935cb
TR22-003, 030AZ, -70dip, 305 metres depth to-date: the hole is sited 10 metres behind TR22-002. The lithology and mineralization distribution in the core appears similar as with 002 except that the intensity of Cu mineralization appears to increase towards the bottom to-date in 003 including an 8cm section of massive chalcopyrite at approximately 300 metres depth (See Figure 2 below).
Figure 4: TR22-03: Sample shown is at 305 m. depth is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b2ec88c1-d832-4e45-b65e-a65f8559fea7
Stone Gold President and CEO John Timmons states “ Holes 1 and 2 from the first drill program in 50 years at the Breton Breccia are currently at the assay lab. Drilling has re-commenced on Hole #3 to test directly under the centre of the Breton Breccia which was not historically mined. Our goal is to establish copper mineralization at the Breton Breccia, which is one of six known breccias in the Tribag Zone. The Tribag Zone is the first of three mineralized zones to be drill tested across the 21,000 hectare Copper Road Project which contains two past producing copper mines.“
The information in this press release has been reviewed and approved by Dr. Trevor Boyd, P. Geo., and a Qualified Person for the technical information under NI 43-101 standards.
For further information, please contact:
Mr. John Timmons
President & CEO Stone Gold Inc.
Phone: (416) 931 2243
Email: jtimmons@stonegold.ca
Web: www.stonegold.ca
Stone Gold Inc. is engaged in the acquisition, exploration, and evaluation of mineral exploration properties for the mining of precious and base metals in northern Ontario, Canada
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Caution Regarding Forward-Looking Information This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Stone Gold. Forwardlooking statements include estimates and statements that describe Stone Gold's future plans, objectives or goals, including words to the effect that Stone Gold or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Stone Gold, Stone Gold provides no assurance that actual results will meet management's expectations.
Risks, uncertainties, and other factors involved with forward looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Stone Gold's public documents filed on SEDAR.
Although Stone Gold 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. Stone Gold 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.
