QUÉBEC CITY, Quebec, June 21, 2018 (GLOBE NEWSWIRE) -- Stelmine Canada
(« Stelmine ») (TSXV:STH). Stelmine announces the start of its summer 2018
exploration program on the Courcy flagship property. The gold property is located in the eastern segment of the Opinaca
sub-province near the Québec/Labrador border.
2018 Program
Courcy property
The main objective of this campaign is to circumscribe and expand all zones containing gold mineralization and positioning drill
collars for a drilling campaign to be initiated during the fall of 2018. Based on the results obtained from previous field work
completed in 2017, the exploration work will include:
- detailed geological and structural mapping;
- rock sampling (grab and channel), and overburden stripping on 17 priority zones containing gold mineralization distributed
throughout the property.
Other properties
Stelmine will devote 10 days to each the Trieste and Joubert properties, exploring (mapping and sampling) key areas where gold
mineralization was discovered in 2017. The largely unexplored Mercator property will undergo regional exploration which is expected
to last several days.
2017 Program
More than 1.2M$ was spent on a summer exploration campaign that was successful in discovering new potential
Au-rich targets on the eastern Courcy property. Geological mapping combined with the reinterpretation of previous geophysical VTEM,
THEM and MaxMin surveys allowed the definition of a new geological and structural framework related to gold mineralization.
Over 2,000 m2 of overburden was stripped from 13 new mineralized sites. A total of 751 rock samples,
including 265 channel samples having a total length of 265 m were collected from outcrops, ancient and new
stripped zones.
To date, the Courcy North and South zones are deemed the most prospective for gold. The best results for the
North zone varies from 0.31 to 8.38 g/t Au, with an average concentration of 1.29 g/t Au if we
merge Stelmine and SOQUEM’s previous data. Significant channel sample results yielded 1.05 g/t Au on 8.39 m,
1.79 g/t on 4.10 m and 1.58 g/t on 4.20 m.
In the South Zone, several showings displayed visible gold and elevated Au concentrations in grab samples (ex:
167 g/t, 33 g/t, 24.8 g/t and 4.8 g/t). A compilation of values > 0.3 g/t obtained by Stelmine
and SOQUEM produced an average of 3.65 g/t Au.
2006 Program
SOQUEM completed a drilling campaign, including 772 m of core material distributed in eight diamond drill holes
and producing the following results: 4.27 g/t Au on 42 m (including 12.15 g/t Au on 13.5 m; drill
hole no. 8), 0.94 g/t Au on 10.50 m (drill hole no. 4) and 0.4 g/t Au on 15 m (drill hole no.
2).
Stelmine’s President and CEO, Isabelle Proulx declares “Our exploration strategy on the Courcy property is
specifically designed to focus on the most important gold-bearing targets throughout the property and will ultimately lead to a
drilling campaign. The completion of our second year of field work will strongly benefit from our geological, geophysical and
geochemical knowledge acquired from last year. In targeting the eastern segment of the Opinaca subprovince, Stelmine generated a
renewed interest from the mining industry. Our results are now being closely monitored as we further explore the mining potential
of this newly investigated mining sector”.
The Courcy property is located 100 km west of the city of Fermont, Québec. The property consists of 393 claims
covering 206 km2 and is 100 % owned by Stelmine. Stelmine’s base camp is located on lac Couteau. A team comprising two
senior geologists, two junior geologists, two technicians accompanied by a foreman and a cook is presently on site and carrying out
work.
The technical contents of this release were approved by Michel Boily, PhD, geo; a Qualified Person (QP) as
defined by National Instrument 43-101.
Follow us on www.Stelmine.com and on our Facebook page (Stelmine Canada) where we uploaded pictures of the Courcy project.
About Stelmine
Stelmine is a junior mining exploration company which concentrates its activities in the Province of Québec. Stelmine holds 994
claims spanning 517 km2 on the eastern part of the Opinaca metasedimentary basin, which contains zones with a high
potential for gold deposit discovery in geological contexts similar to the one leading to discovery of the Éléonore Mine. Its
capital stock consists of 23,680,645 issued and outstanding shares for a current market capitalization of $4.7 million.
Forward-looking statements
The statements set forth in this press release, which describes Stelmine’s objectives, projections, estimates, expectations or
forecasts, may constitute forward-looking statements within the meaning of security legislation. Positive or negative verbs such as
“believe”, “can”, “shall”, “intend”, “expect”, “estimate”, “assume” and other related expressions are used to identify such
statements. Stelmine wishes to state that, by their very nature, forward-looking statements involve risks and uncertainties such
that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements or could
have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference
between Stelmine’s actual results and the projections or expectations set forth in the forward-looking statement include the risk
that the Company does not complete the Placement as anticipated, and such other risks as described in detail from time to time in
the reports filed by Stelmine with security authorities in Canada. Unless otherwise required by applicable securities laws,
Stelmine disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of the new
information, future events or otherwise. The forward-looking information in this release is based on information available as of
the date of this release.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
For more information : |
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Isabelle Proulx
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Christian Guilbaud
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President and CEO |
Business Development |
418-626-6333
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514-813-7862 |
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info@stelmine.com
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Stelmine.com |
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