RE: Decade applies for another drill permit in B.C.
2023-04-20 09:21 ET - News Release
Mr. Ed Kruchkowski reports
DECADE ANNOUNCES PROJECT UPDATES
Decade Resources Ltd. has permit approval for drilling seven different properties in the Stewart and Terrace areas. Permits are on 4 properties that are 100 % owned, 2 are on properties the Company is farming into while another is on a property 65% owned by the Company. It has applied for another to compliment the three of the permits in the Terrace area claims. Two of the properties qualify for the Mineral Exploration Tax Credit (METC). The federal act allows the Mineral Exploration Tax Credit (METC) to provide an additional income tax benefit for individuals who invest in mining flow-through shares, which augments the tax benefits associated with the deductions that are flowed through. The METC is equal to 15 per cent of specified mineral exploration expenses incurred in Canada and renounced to flow-through share investors. The act allows a new 30-per-cent Critical Mineral Exploration Tax Credit (CMETC) for specified minerals. The specified minerals that would be eligible for the CMETC are: copper, nickel, lithium, cobalt, graphite, rare earth elements, scandium, titanium, gallium, vanadium, tellurium, magnesium, zinc, platinum group metals and uranium. These minerals are used in the production of batteries and permanent magnets, both of which are used in zero-emission vehicles, or are necessary in the production and processing of advanced materials, clean technology, or semi-conductors. A summary of some of the permitted properties are as follows:
Treasure Mountain
The Company also announces that it is completing a compilation of Company sampling from the 2017 to 2022 exploration periods for the Treasure Mountain property. High copper values with associated silver occur within replacement zones in volcanic rocks along a 14 km strike length. At present, there are 22 different copper-silver showings. Historic drilling has been carried out on 2 small areas of this mineralized trend. On the Purdex occurrence, the following results were obtained:
A 26 metre surface chip sample assayed 2.44 per cent copper and 0.4 grams per tonne silver (Minister of Mines Annual Report 1965). A total of nine chip samples ranging in length from 0.9 to 4.0 metres were collected from old trenches in 2017 by the Company confirming earlier work. They assayed from 0.49 to 5.51 % copper and from 7.2 to 42.7 g/t silver. They gave a weighted average of 3.37% copper and 30.68 g/t silver.
Red Cliff
The Company as operator has proposed a Phase I program calling for 1600m of drilling to further define the results of previous drilling. Due to the lower elevations on this property, drilling can commence in early to mid May. Drilling in 2023 will be aimed at defining zones of near surface high grade gold-copper for a potential 10,000 tonne bulk test in the Upper Montrose area. Drilling will further test the area of results shown below:
Premier East
The project is located 500m east of the Premier Gold-Silver mine pit. The fault structure hosting mineralization over 3 km of strike (including the Premier Mine) on the adjacent mine property trends into the Company claims. Highly altered sericitic and pyritic rocks outcrop on the west boundary of the claims. Overlying post mineral rocks obscure the formation hosting the gold-silver mineralization on the Company claims. The Company plans to examine the possibility of drilling a hole to test for the structures within the formation that hosts the mineralization.
Del Norte
The Company can earn up to a 55% interest in the property by spending $4 million over a five year period. The Company can an earn an additional 20% interest by carrying the property to commercial production. To date, the Company has spent over 3 million dollars.
The drilling by the Company has tested the contact of felsic volcanic rocks of the Hazelton Group and sedimentary rocks of the Salmon River Formation. This is the same horizon that hosts the Eskay Creek mine 60km north of Stewart. Drilling was from drill platforms located on rock islands (nunataks) within the South Nelson Glacier. The drilling was successful in testing for extensions of previous discoveries that indicated high grade gold and silver mineralization.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
Decade Resources Ltd. 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 grass roots to advanced ones. Its properties and projects are all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca which is presently being updated. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
We seek Safe Harbor.
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