Gold Appears To Be On All Sides of SIC's Property
NWA News Release HALIFAX, Sept. 20, 2016 /CNW/ - Northwest Arm Capital Inc. ("NWA") (NWA-P.V), a capital pool company, is pleased to report the discovery by Altius Minerals Corporation ("Altius") of several new high grade gold occurrences in central Newfoundland on a property it refers to as the Wilding Lake Gold Project ("Project"). As announced on September 16, 2016, NWA has entered into an agreement with Altius Resources Inc. ("ARI"), a subsidiary of Altius, to obtain an option to earn a 100% interest in the Project, intended to be NWA's Qualifying Transaction. Following completion of the Qualifying Transaction, NWA intends to seek shareholder approval to change its name to Antler Gold. The Project hosts high grade gold mineralization within shear-related orogenic style quartz veins and quartz stockworks underneath shallow overburden in an area that has not previously been systematically explored for gold. The Project, totaling 688 claims and 17,200 hectares, is located immediately northeast of and adjacent to Marathon Gold Corporation's Valentine Lake project. The Project covers more than 50 kilometres of strike length of the projected structure that is believed to control the regional gold mineralization such as at Valentine Lake and Wilding Lake. The initial Wilding Lake discovery was made by local Newfoundland prospectors Brian Jones and Gary Rowsell along a recently constructed logging road, where metre-scale angular quartz vein float containing coarse visible gold returned a maximum value of 74.8 g/t gold in initial grab samples. Follow-up prospecting by ARI in 2016, subsequent to optioning the property from the prospectors in the past year, has located additional areas of similar gold bearing float and recent initial trenching has successfully exposed gold bearing quartz veins in bedrock at the Alder Zone of the Project. Mineralization at the Alder Zone occurs as coarse, free gold in association with chalcopyrite, rare scheelite and gold-silver telluride, in association with tourmaline bearing quartz veins. One hundred and seven cut channel samples collected to date from outcrop in trenches have yielded uncut gold values ranging up to 13.9 g/t over 4.0 m, 5.4 g/t over 3.6 m, and 49.3 g/t over 4.6 m (including 279 g/t gold over 0.9 m). Several additional gold occurrences in outcrop and float have also been discovered by reconnaissance prospecting along trend up to 3.5 km away from the Alder Zone. Additionally, the newly discovered Birch Zone, located 450 metres south of Alder, has returned gold values of up to 36.4 g/t in grab samples and up to 5.5 g/t over 1.0 m in preliminary channel samples. Furthermore, two initial grab samples from a recently exposed pyrite-bearing shear zone occurrence named Jigger, located 15.2 km to the northeast, have returned results of 8.4 and 19.7 g/t gold in grab samples. Additional results and details on the exploration work completed by Altius are available in Altius' news release dated September 20, 2016. Work to date on the Wilding Project remains early stage in nature and has only included prospecting near roads, limited soil sampling, trenching of the immediate Alder Zone, and a preliminary structural interpretation of the gold mineralization.