TORONTO, March 30, 2022 (GLOBE NEWSWIRE) -- Stone Gold Inc. (TSX-V: STG) ("Stone Gold" or the "Company") announces that diamond drilling will commence on the Copper Road Project in mid-April. The Company is fully permitted for up to 4,000 metres of diamond drilling at the company’s 21,000-hectare Batchewana Bay District located approximately 80 km. north of Sault St. Marie, Ontario.
The Batchewana Bay District is situated on the eastern edge of the Late Proterozoic (1050-1115 Ma) Midcontinent Rift, most of which now lies beneath Lake Superior. The western and central part of the property (Copper Road) straddles the NNW trending unconformity between the Mamainse Point Formation to the west and rocks of the Batchewana Greenstone Belt of the Archean Superior Province to the east. The Copper Road Project inclusive of two former copper mines (Coppercorp and Tribag) consists of Keweenawan Proterozoic volcanic-sedimentary rocks intruded by multiple mineralized breccia and porphyry bodies and historical estimates.
The former Tribag Mine (“Bretton Breccia”) was closed to staking from 1974-2008, in legal dispute from 2008-2016, has not been drilled in almost 50 years and was never tested for additional mineralization (Au,Re,Mo,Ag,W) discovered in the area. The former mine (operated by Teck Resources Limited) produced approximately 1.2 million tonnes @ 1.5% Cu from 1966-1972.
Stone Gold President/CEO John Timmons comments, “Our goal is to establish the grade and depth potential of the Breton and East Breccias at the Tribag Mine Zone, while performing full spectrum assay analysis to test for additional mineralization known in the area.”
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.
Cellular (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. Forward-looking 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.
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