TORONTO, May 07, 2021 (GLOBE NEWSWIRE) -- Stone Gold Inc. ( TSX-V: STG ) (" Stone Gold " or the " Company ") announces that the recently completed 952 m. diamond drill program at the Mt. Jamie North program contained no significant gold values. The initial drill program on the untested Mt. Jamie North Property consisted of 3 diamond drill holes. The highest assays encountered were in SG-21-002 where silicified and sericitized tuff contained 5% quartz veinlets with trace disseminated pyrite. This zone returned 120 ppb Au over 2.0 m of core and corresponds to the same zone on surface from a grab sample of a quartz vein that assayed 5.6 gpt Au.
Stone Gold President and CEO John Timmons comments, “The initial drill results from the Mt. Jamie North Project are disappointing. However, a 952 m. drill program does not determine the viability of a project, and we intend to further exploration of additional targets by way of surface sampling and trenching at Mt. Jamie North in late 2021.
“As previously planned, the Company intends to focus on the Batchewana Bay Projects north of Sault St. Marie. The Glenrock Gold Project is drill ready with historical diamond drill gold grades of 15.2m. of 1.3 gt/Au. and 33m. of 0.5 gt/Au. The recently acquired Tribag and East Breccia Cu/Mo/W/Re projects are accompanied with an extensive database of brownfields exploration data from the former Tribag Copper Mine. The data is currently being inputted and modelled by Ronacher MacKenzie Geoscience Inc. located in Sudbury, Ontario. We aim to identify multiple targets for diamond drilling in late 2021.”
Drill core for the Mt. Jamie North drill program was collected at the drill rig by the consulting geologist and the core was logged by Fladgate Exploration Consulting in Thunder Bay and assays were completed by Activation Laboratories Ltd., an accredited lab.
The drilling was performed under the supervision of consulting geologist Tim Twomey P.Geo who is a qualified person under the NI 43-101 and approved the contents of this release.
For further information, please contact:
Mr. John Timmons
President & CEO
Stone Gold Inc.
Cellular (416) 931 2243
Email: jtimmons@stonegold.ca
Web: www.stonegold.ca
Stone Gold Inc. is engaged in the acquisition, exploration and evaluation of properties for the mining of precious and base metals.
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This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Stone Gold. Forward-looking statements include estimates and statements that describe Stone Gold's future plans, objectives or goals, including words to the effect that Stone Gold or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Stone Gold, Stone Gold provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Stone Gold's objectives, goals or future plans, statements, details of the exploration results, potential mineralization, Stone Gold's portfolio, treasury, management team and enhanced capital markets profile, the timing of the Offering, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions.
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