MONTREAL, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Dios Exploration Inc. (“Dios”) (TSX-V: DOS). On Dec. 2, 2021, Mount Royal Resources reported acquisition of 75% of Northern Lights Minerals Pty Ltd (NLM) assets including interest in Dios’ 33 Carats South project 340 km northeast of Chibougamau, Quebec.
On July 1, 2020, NLM signed an option to acquire from Dios a 70% interest over five years with $220,000 payments, plus claim renewal cost payments and further $1,400,000 of exploration work. Once 70% interest is obtained, buyer could obtain additional 15% interest following preliminary economic study.
In Upper Eastmain Greenstone belt, James Bay/Eeyou-Istchee, 33 CARATS SOUTH gold property is located 6 km northwest of Eastmain Mine gold deposit (Benz Mining) reported containing NI 43-101 and JORC (2012) compliant resource of 376,000oz at 7.9 gpt gold (Indicated: 236,500oz at 8.2g/t gold, Inferred: 139,300oz at 7.5g/t gold). Property is accessible all year through road 167 to Renard diamond deposit and 33 Carats South (64 claims for 3369.3 hectares (33.69 km2).
M.-J. Girard, President of Dios, stated, "We are pleased to welcome new partner to develop strong potential of 33 Carats gold project, northwest of adjacent Eastmain gold mine property, in NW strike with structural/stratigraphic Eastmain Mine Trend hosting most of significant gold & copper showings in the area."
Previous Dios‘ work consisting of prospecting, geological mapping and soil sampling delineated a highly prospective area within felsic (tonalite) intrusion, up-ice of significant gold-in-till dispersal train. Property contains favourable sequence of felsic volcanics in contact with magnetic tonalite. Bohier tonalite hosts numerous porphyry-type Au-Ag-Cu (up to 7.76 g/t Au, 17.8 g/t Ag, 4.64% Cu) occurrences within magnetic low. Typical mineralization consists of disseminated /stringer pyrite-chalcopyrite associated with 1-5% biotite-magnetite and/or quartz stringers /veinlets. Technical content of release was prepared by H. Desbiens P. Geo M.Sc., 43-101 Qualified Person.
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