Vancouver, British Columbia--(Newsfile Corp. - January 22, 2024) - Go Metals Corp. (CSE: GOCO) ("Go Metals" and/or the "Company") is pleased to announce results from the recent critical metals drilling program from its flagship HSP Property located on the Côte-Nord of Québec.
Scott Sheldon, CEO of Go Metals states, "The 2023 RC drill program based on the 2019 airborne EM survey targets continues to point to a significant magmatic sulphide system extending from surface and open at depth. The drill intersected three layers of low-grade mineralization at Chamber North with a combined width of 13.7m ending in disseminated sulphide bearing anorthosite. All drill holes at Chamber North to date have been highly anomalous in nickel, copper and cobalt, indicating proximity to the source of the large EM anomaly."
Mr. Sheldon continued, "Moving into 2024, our goal is to better understand the origin and source of the sulphide mineralization, to determine the conditions required for a deposit-scale system. Gravity geophysics will be used to scan deeper for high density rocks and may help distinguish the presence of sulphide-rich ore bodies from the surrounding anorthosite host. Bulk-rock and magnetite geochemistry will also help to determine the source of the sulphide bearing intrusions, and where they fit in the geology of the region."
Figure 1: Overview map of developed targets and drilling to date at HSP property.
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Assay Results
| Hole |
Target |
Intercept |
Ni % |
Cu % |
Co % |
Ni Eq* % |
| HSPRC23-001 |
Red Mountain |
1.52m (from 32m) |
0.43 |
0.49 |
0.04 |
0.76 |
| HSPRC23-003 |
Chamber North |
3.05m (from 0m) |
0.07 |
0.06 |
0.02 |
0.14 |
| HSPRC23-004 |
Chamber North |
7.62m (from 36.6m) |
0.11 |
0.13 |
0.03 |
0.22 |
|
|
3.05m (from 22.9m) |
0.11 |
0.09 |
0.03 |
0.20 |
|
|
3.05m (from 4.57m) |
0.06 |
0.03 |
0.02 |
0.11 |
Table 1 - Drill results. *Ni Eq: Nickel equivalent calculated using metal prices from Jan 10, 2024 (Ni: 16.15USD/kg, Cu: 8.26USD/kg, Co: 30.02USD/kg) calculated Ni:Cu ratio - 1:1.955, Ni:Co ratio - 1:0.538. No other metals were used in the calculation of Ni Eq.
Notable Drill Results:
HSPRC23-001 intercepted the same mineralized structure intercepted in 2022 at Red Mountain and extends the strike length to at least 40m and down-dip length of 57m starting at surface. The structure remains open along strike to the northwest, southeast and down-dip. Future plans include exploring for zones where the structure widens to determine if it is part of a larger sulphide system.
Figure 2: Red Mountain target overview with all drill results to date.
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HSPRC23-003 intercepted up to 0.32% Ni Eq* over 1.5m, which is the highest grade intercept discovered to date at Chamber North. These results highlight the potential for the large 500m by 700m target. Moving forward, special attention will be paid to identify the processes that increase sulphide concentration within the anorthositic magma chamber to vector higher grade mineralized zones within the target.
Figure 3: Chamber North overview with all drill results to date.
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QAQC and Sampling Protocol
Samples were taken for each 5-foot RC rod. The chips were put through a splitter that collects 40% as a sample. The sample is run through the splitter again to keep a duplicate in case samples need to be re-assayed. Duplicates, standards and blanks were inserted at regular intervals within the sample sequence for validation purposes. Results for all QAQC samples were deemed acceptable, except for one isolated sample. Re-assay was not required.
XRF Comparison
A handheld X-ray fluorescence analyzer ("XRF") was used on site for the RC drill samples during the program. The XRF results were compared with assayed values for nickel and copper. Both base metals had average absolute errors over 50% and thus can currently only be used as a rough guide.
Qualified Person
Hugues Longuépée, P.Geo., is the qualified person ("QP") for the Company as defined in National Instrument 43-101 and has reviewed and approved the technical information presented within this news release.
About Go Metals
Go Metals targets Canadian battery metal projects to help power a sustainable future. The Company's flagship HSP project has multiple nickel-copper sulphide targets within a 416.5 square kilometre land package north of Havre-Saint Pierre, Québec in the Nitassinan of the Innu of Ekuanitshit.
The HSP and KM98 properties host multiple magmatic sulphide targets within a potential new nickel belt spanning hundreds of kilometres across the Havre-Saint-Pierre anorthosite complex in the Grenville Province.
For further information, please contact:
Scott Sheldon, President
604.725.1857
Scott@GoMetals.ca
Forward-Looking Information:
This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties, future production, reserve potential, and events or developments that the Company expects. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance, they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether because of new information, future events or results, or otherwise) other than as required by applicable securities laws. There are several risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at SedarPlus.ca.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
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