Toronto, Ontario--(Newsfile Corp. - March 19, 2015) - Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") is pleased to report on recent progress for the Bass River Exploration Project in Nova Scotia.
In January 2015, 72 line km of airborne VTEM and magnetics were flown by Geotech Ltd. in an area to the northeast of VTEM cluster VTBR-05 that was defined in the 2013 VTEM survey. Previously recognized as prospective due to anomalous Pb / Zn soil geochemistry, the preliminary interpretation of this new target (Castlereagh) has been received and appears substantially larger and of greater magnitude than VTBR-5 (Figure 1). Previously defined by 9 individual airborne VTEM anomalies, VTBR-05 was the focus of drilling following the discovery of Pb / Zn mineralization at surface and its further delineation by soil geochemistry (Gamble Lake grid).
Figure 1. VTBR-05 and Castlereagh anomaly
To view an enhanced version of Figure 1, please visit:
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Detailed research by geologists from the Department of Natural Resources, Nova Scotia has assisted in interpreting the geology and style of mineralization. Approximately 700+ XRF analyses have been conducted on the Gamble Lake drill core and it appears that the host rocks are a sequence of mafic to felsic volcanics with mineralization associated with sericitized basalts containing pyrrhotite bands and fractures. The mineralized zone is underlain by rhyolite and rock geochemistry shows the Pb / Zn content to increase to the northeast.
When reviewed in a regional context, the Castlereagh anomaly appears to be a separate entity, the LiDAR image showing a distinct east west break along the boundary between it and VTBR-05. The new geological interpretation suggests the host to be lower in the sequence than the Gamble Lake occurrence with potential mineralization sitting at a rhyolite / felsic contact.
In 2015, Minotaur Exploration Ltd. (Australia) will continue to assist the Bass River Joint Venture partners examine the VTEM data, further defining the individual targets. Soil geochemistry and a ground based Pulse Electro-Magentic surveys will follow. Results will be interpreted by Minotaur who will propose potential drill collars.
Approximately 75 samples of drill core have yet to be returned from the Gamble Lake (VTR-05) grid. When all remaining assays have been received from Agat Laboratories, they will be reviewed by members of the Technical Advisory Committee then released. These results are expected within the next few days.
QA/QC
The drill program is being managed by Cogonov Inc. and cores are logged and sampled at their facility in Truro, Nova Scotia. The drill core is sawed in half, with half being sent to the AGAT Laboratories office in Dartmouth, Nova Scotia. From there, the sample is transported to the AGAT facility in Mississauga for analysis. The other half of each sample is retained for reference. The core samples are analyzed using an aqua regia digestion with an inductively-coupled plasma mass spectrometry (ICP-MS) finish. AGAT maintains a strict quality control program with standards, blanks and duplicates included in every sample series. Standards and blanks for confirmation analysis are also regularly inserted, by Cogonov Inc. personnel, to the sample series at the core facility in Truro Nova Scotia.
Mr. Gary H. Lohman, B.Sc., P.Geo., Cogonov COO and a Qualified Person under NI 43-101, has reviewed and approved the technical portions of this news release.
About Stakeholder Gold Corporation
Stakeholder Gold Corp. is a Canadian mineral exploration company headquartered in Toronto, Canada with the flagship property located in Nova Scotia, Canada. The primary focus of Stakeholder is developing the Bass River Iron Oxide Copper Gold (IOCG) project which the company has optioned, and which is located on the Cobequid-Chedabucto Fault Zone (CCFZ) in central Nova Scotia. The property is host to >100 mineral occurrences and small deposits of Iron-Oxide, Copper, Cobalt, Gold, Nickel and Barite. The CCFZ has only recently been recognized as a potential host for IOCG deposit types.
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.
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