VANCOUVER, British Columbia, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Optimum Ventures Ltd. (“Optimum” or the “Company”) (TSXV: OPV) announces that the Company has received the gold and silver assays for select samples from BR, Usrula and Golden Summit zones located on the Harry property.
Highlights of the sampling include:
- 1.8 to 26.6 g/t Au and 282.9 to 1003.2 g/t Ag from 5 samples on the BR zone.
- 0.8 to 6.5 g/t gold and 131.3 to 208.1 g/t silver on the Ursula zone.
- 0.1 to 2.3 g/t Au and 470.3 to 5477.4 g/t Ag on the Golden Summit zone.
This photo shows the relationship of the Swann zone to the BR zone. Optimum has also exposed a small portion of the Swann zone in about 2.5 m of overburden in preparation for further exploration based on the success of this year’s drilling.
A photo of mineralization out of bedrock is attached.
Shaw drilling of 1 m holes on the Saw Cut zone has intersected abundant sphalerite (ZnS) over at least 10 m within an overall zone that is up to 40m wide. A photo is attached.
Grab sample assaying of this zone were ranging from 0.1 to 5.4 g/t Au and 10.2 to 158.4 g/t Ag (from 3 samples) associated with the strong sphalerite mineralization.
The new zone Ursula South consists of mineralization of a stockwork of galena-sphalerite veins up to 0.8 m wide over a width of 5 m. This new zone is located in an overburden area approximately 75 m south of the Ursula zone.
Assays were conducted by Seacan Labs Stewart based in Stewart BC.
About Optimum
Optimum Ventures Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Its properties and projects are all located in British Columbia and the extensions of the "Golden Triangle" area of northern British Columbia into Alaska. The company has an option agreement with Teuton Resources Corp. pursuant to which Teuton has agreed to grant to Optimum the option to acquire an up to 80-per-cent interest in the Harry and Outland Silver Bar properties, located near Stewart, B.C. For more information visit www.optimumventures.ca.
Qualified Persons
Mr. Edward Kruchkowski P.Geo., a member of the Company's Board of Directors and registered in the Provinces of British Columbia is the "Qualified Person" under NI 43-101 and is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tyler Ross
Optimum Ventures Ltd.
Tel: (604) 428-6128
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.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events including, among others, assumptions about future prices of gold, silver, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining government approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the impact of the COVID-19 pandemic, availability of equipment, availability of drill rigs, and anticipated costs and expenditures. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Optimum's ability to complete all payments and expenditures required under the Option Agreement; and other risks and uncertainties relating to the actual results of current exploration activities, the uncertainty of reserve and resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; risks relating to grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company's expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); metal price fluctuations; environmental and regulatory requirements; availability of permits, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration and development industry, and those risks set out in the filings on SEDAR made by the Company with securities regulators. 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 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, other than as required by applicable securities legislation.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/19ffe431-13be-4f38-88da-48e962840acc
https://www.globenewswire.com/NewsRoom/AttachmentNg/a24ce2f6-f421-45cc-abf9-fb32552d12c4
https://www.globenewswire.com/NewsRoom/AttachmentNg/95a4a89b-b84a-454e-a554-3f1410ec8022
