SASKATOON, Saskatchewan, May 11, 2021 (GLOBE NEWSWIRE) -- 1844 RESOURCES LTD. (TSX-V:EFF) (the “ Company” or “1844” ) , announces further to its News Release dated April 22, 202 1 , that the Company has filed the National Instrument 43-101 technical report titled “Technical Report, Pertaining to: The Native Copper Project, Gaspe Peninsula, Quebec” dated effective April 15, 2021 prepared by Yvan Bussière, P. Eng which will be available under the Company’s profile on the Sedar website ( www.sedar.com ).
The project, which is accessible by forestry roads and is situated on the south portion of the Gaspe Peninsula, was first acquired through a prospector in 2019. Following our initial due diligence on the original 36 claims, the company acquired an additional 120 claims through staking. The project is part of the Mont Alexandre syncline, associated with an important metallotect volcanic horizon portion of the Lake McKay Member, which lies within the greenstone belt present in the Gaspe Peninsula. The property has returned values ranging from 0.15% Cu in drilling to 5.38% Cu. The technical NI 43-101 of the property was commission to determine our exploratory and drilling plan for 2021-22.
Observation of the mineralization on the Native Copper project indicates that it is similar to the native copper orebodies of the Keweenaw Peninsula. In this context, the faults must be seriously investigated as they represent potential pathways for the circulation of the hydrothermal fluids, mainly where they cross porous horizons where native copper can be deposited.
To assess the project’s potential, the author recommends a airborne magnetic and electromagnetic survey, a geological reconnaissance survey, regional soil sampling at a 200-m line spacing to complete the coverage of the favourable host rock unit of the project, detailed soil sampling at a 50-m line spacing to cover 11 geochemical anomalies and the mineralized sites already define by previous work, trenching of the soil anomalies and detailed geological mapping, which should lead to the identification of drill targets in addition to the seven drill holes recommended on the soil anomalies already define by Metco and Breakwater more detailed description of the recommended exploration work is provided in the report, along with the associated budget.
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About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions “Gaspé, Chibougamau Québec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.
Yvan Bussières, P. Eng., OIQ # 31985 The Company’s consultant is a qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ) and has reviewed and approved the technical disclosure contained in this news release.
Bernard-Olivier Martel, P. Geo, the Company's Director of Exploration, is a qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ) and has reviewed and approved the technical disclosure contained in this news release.
1844 RESOURCES INC.
(signed) “ Sylvain Laberge ”
Sylvain Laberge
President and CEO
514.702.9841
slaberge@1844resourcesr.com
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
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