Shine Hits Wide, High-Grade Mineralization at Watts Lake; Peaks of 18.5% Zn, 71.5 g/t Ag and 16.1 g/t Au
Drilling confirms high-grade mineralization from surface to >100m
Kelowna, BC. - SHINE MINERALS CORP. (TSX.V:SMR) (“Shine” or the “Company”)
is pleased to announce assay results from the seven hole (907m), drill program at its Watts Lake property (the “Property”), located in north-central Saskatchewan, Canada. This was the Company’s first drill program and all seven holes targeted a 50m section of the historically drill defined Main Zone of the Bory’s Lake mineralized complex, leaving 4.5km still to be tested by current drilling. Six holes hit wide zinc and silver mineralization, including high-grade intervals in multiple holes. Of particular note, hole WL19-006 (line 050W) returned 30.5m of total composite mineralization, including intervals such as 11.44% Zn+Pb and 15.76g/t Ag over 6.0m. Importantly, the results confirm that mineralization shows continuity and extends from surface to a depth of >100m.
Borys Lake Mineralized Complex Highlights • The Bory’s Lake Conductive Corridor “BLCC” is a large, property-scale feature and has been traced over 14km in strike length. • High-grade mineralization has been historically drill tested in 5 discrete zones over a 4.5km trend within the BLCC, including the 975m strike-length Main Zone. • Shine’s first program has tested only a small part (50m strike length) of a single zone (Main Zone) • Multiple parallel conductive corridors have been identified on the property that will require future drill testing • Project is very close to highway and major infrastructure • The Government of Saskatchewan announced 2019/20 Targeted Mineral Exploration Incentive program available to companies who undertake drilling for base metals and precious metals and diamonds in certain defined regions of the province. The program offers a rebate of 25% of eligible direct drillings costs, up to $50,000 per company. Watts Lake is located within this defined region.
Next Phase of Drilling the 4.5km mineralized trend: The seven holes targeted a 50m section of the south part of the Borys Lake mineralized complex on the Main Zone, below surface Trench 4 (see News Release Nov 12, 2018). This area has seen limited historical drilling and although some historic core exists, no historical hole collar locations could be confirmed. Planning is already underway for the next phase of drilling, which will continue to extend along strike and depth for continuity and grade along the Bory’s Lake trend.
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Ross McElroy, President, COO and Chief Geologist, said, “We are delighted by the strength of the zinc and silver assays from our maiden drill program at Watts Lake. We have wide intervals of mineralization in multiple holes and we have also confirmed that mineralization extends from surface to a depth of >100m and remains open. Plans for the next round of drilling include testing along strike and at further depth. Watts Lake has multiple parallel conductive corridors, including the 14km long Borys Lake Corridor, which hosts an impressive 4.5km mineralized trend outlined by historical drilling. Based on the level of results so far, we have a clear path forward and we are excited about the prospects of our next program.”
Assay Highlights: WL19-006 (line 050W) returned 30.5m of total composite mineralization over a 45.0m section. Key intervals include: • 13.5m @ 7.83% Zn+Pb and 13.23g/t Ag (24.5m to 38.0m), including o 6.0m @ 11.44% Zn+Pb and 15.76g/t Ag (24.5m to 30.5m) o 2.5m @ 8.51% Zn+Pb and 16.28g/t Ag (35.5m to 38.0m)
WL19-005 (line 050W) returned 28.0m of total composite mineralization over a 31.0m section. Key intervals include: • 27.0m @ 4.84% Zn+Pb and 11.78g/t Ag (16.0m to 43.0m), including o 3.0m @ 9.71% Zn+Pb and 24.53g/t Ag (16.5m to 19.5m) o 4.5m @ 7.84% Zn+Pb and 14.92g/t Ag (23.0m to 27.5m) o 1.0m @ 6.16% Zn+Pb and 10.05g/t Ag (38.5m to 39.5m)
WL19-002 (line 00E) returned 23.5m of total composite mineralization over a 25.5m section. Key intervals include: • 8.0m @ 3.67% Zn+Pb and 15.21g/t Ag (79.5m to 87.5m), including o 3.0m @ 5.99% Zn+Pb and 14.02g/t Ag (84.0m to 87.0m) • 14.0m @ 4.76% Zn and 10.04gt Ag (90.5m to 104.5m) o 3.5m @ 6.17% Zn+Pb and 13.34g/t Ag (92.0m to 95.5m) o 3.5m @ 8.80% Zn+Pb and 18.74g/t Ag (97.0m to 100.5m)
Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK for analysis, while the other half remains on site for reference. All drill core samples are analyzed using the ICP3 35 element base metal exploration package. Mineralized samples are also analyzed using the base metal assay (wt%) and Gold, Platinum and Palladium by fire assay and ICP OES finish (ppb) packages. Platinum and Palladium results are still outstanding. All depths reported of core interval measurements including sample and interval widths are down-hole and are not always representative of true thickness.