Old NR: Decade Resources drills visible gold at Del Norte
Decade Resources drills visible gold at Del Norte
2021-08-26 12:16 ET - News Release
Also News Release (C-TUO) Teuton Resources Corp (2)
Mr. Ed Kruchkowski reports
DECADE'S DRILLING INTERSECTS FURTHER NATIVE SILVER, ACANTHITE (SILVER SULPHIDE) AND NATIVE GOLD IN DDH-DN-21-12 ON THEARGO/LG ZONES AT DEL NORTE PROPERTY, GOLDEN TRIANGLE, BC
Decade Resources Ltd. has intersected further native silver, acanthite (silver sulphide) and native gold in DDH-DN-21-12 on the Argo/LG zones at the Del Norte property. The property is situated within British Columbia's Golden Triangle, 34 kilometres east of Stewart, B.C.
Highlights of the recent drill hole include:
- Native silver/acanthite observed as smeared zones in DDH-21-12);
- Visible gold associated with sphalerite (zinc sulphide), pyrite (iron sulphide), galena (lead sulphide) and tetrahedrite (copper-silver antimony sulphide);
- Heavy sphalerite, pyrite, galena and tetrahedrite observed over 10 metres of core intersection;
- 2021 drilling indicates a strike length of at least 250 m and height of at least 120 m for the latest high-grade intersections.
Ed Kruchkowski, president of the company, states: "The company is extremely excited by the presence of visible gold, silver minerals and strong base metal mineralization in the latest drill hole. The drilling also shows a great consistency in mineralization between the various drill holes. This recent success was based on testing of geological modelling carried out after the completion of the 2020 program."
Mineralization is located within pyrite-rich, black mud lapilli tuffs with subintervals of dacite lapilli tuffs. Sulphides include pyrite, sphalerite, galena and tetrahedrite, along with visible gold and silver in the 2021 drill holes.
The Del Norte property was optioned from Teuton Resource Corp. in January of 2020 with terms allowing the company to earn up to a 55-per-cent interest in the property by spending $4-million over a five-year period. The company can an earn an additional 20-per-cent interest by carrying the property to commercial production.
Private placement
The company has undertaken a $600,000 flow-through and non-flow-through financing to continue financing a phase 2 program and continued exploration. The flow-through is at a price of seven cents per flow-through unit. Each flow-through unit will comprise one flow-through common share and one transferable non-flow-through common share purchase warrant, with each warrant being exercisable for the purchase of one additional common share, at a price of 10 cents per share, for a two-year period.
The offering of non-flow-through units will be at a price of five cents per unit. Each unit will comprise one common share and one transferable common share purchase warrant, each warrant being exercisable for the purchase of one additional common share, at a price of eight cents per share, for a two-year period.
The proceeds from the sale of the flow-through units will be expended on the company's properties located in British Columbia and the proceeds from the sale of non-flow-through units will be used for working capital purposes. Certain directors and officers of the company may participate in the private placement.
Qualified person
Mr. Kruchkowski, PGeo, a qualified person under National Instrument 43-101, is responsible for the contents of this release. Mr. Kruchkowski is not independent of Decade as he is the president of the company.
About Decade Resources Ltd.
Decade Resources is a Canadian-based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grassroots to advanced ones. Its properties and projects are all located in the Golden Triangle area of Northern British Columbia.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.