Calgary, Alberta--(Newsfile Corp. - March 15, 2024) - Showcase Minerals Inc. (CSE: SHOW) (FSE: ZJ0) ("Showcase") is pleased to announce that the U.S. Bureau of Land Management has approved the bond rider for its planned 12-hole drill program anticipated to cover 11,985 feet (3,653 m) in length on its Dixie Flats-North Star Gold Project located in Elko County, Nevada. The bond approval will enable drill site construction and drilling to begin. Showcase intends to complete an initial two-hole program of approximately 1500 feet (457 m). The target for both holes is gold mineralization at the contact of Webb Formation shales with the underlying Devils Gate limestone and a modeled northeasterly fault. The holes will be angled to adequately test the contact in the projected vicinity of this fault. Drilling is anticipated to begin in April. The remaining ten sites will be completed pending these initial results.
The drill targets have been identified using analysis of 53 historic drillholes, localized geologic mapping, surface sampling Controlled Source Audio Magnetotelluric (CSAMT) surveys, seismic, and gravity surveys. A clear trend of mineralization near to historic drilling has been identified, which aligns with the regional trend of mineralization of the Rain Mine to the northwest and the Dark Star Deposit approximately 1.5 miles south of the southwest end of the Dixie Flats-North Star claim block. This drill program is designed to expand the known ore body near previous high-grade intercepts and then extend the ore body along strike of identified structures.
About the Dixie Flats-North Star Gold Project:
The Dixie Flats-North Star Property (the "Property" or "Dixie Flats") is located on the east side of the Piñon Mountains, 21 air-miles south of the City of Elko in northeast Nevada. It is a combination of two claim blocks, the Dixie Flats group of claims and the North Star group of claims. The Property is comprised of a total of 236 total unpatented mineral claims on Federal land administered by the US Bureau of Land Management ("BLM").
The Property lies on the southern margin of the Carlin Trend, a northwest-trending belt of sediment-hosted gold deposits that makes up the greatest geographic concentration of gold deposits in North America, with reported production of more than 92.5 million ounces of gold since 1961 (Muntean, 2019). The Dixie Flats-North Star Property is underlain by rocks known to host gold mineralization on the Carlin Trend, and surface sampling has shown anomalous gold, silver, arsenic, antimony, and mercury levels in rock, soil, and biogeochemical samples from the Property, which is a characteristic geochemical signature of Carlin-Type gold deposits.
The Dixie Flats-North Star Gold Project is approximately three miles south of Newmont Mining Company's Emigrant Springs Mine, which finished production in 2018, and approximately 4.5 miles southeast of the past producing Rain Mine. Both deposits are hosted in dissolution breccia zones at the contact between the Webb mudstone, the basal unit of the overlying assemblage, and the underlying Devils Gate limestone. Prior exploration on the Dixie Flats-North Star Property has been focused on delineating this contact at depth and discovering possible extensions to the regional structures controlling mineralization at the Rain and Emigrant Mines and their demonstrated extension to the Dixie Flats-North Star Property. The information on the adjacent projects is taken from publicly available sources and is not necessarily indicative of the mineralization on the Dixie Flats-North Star Property.
Additional information on the Dixie Flats-North Star Gold Project can be found in the National Instrument 43-101 ("NI 43-101") technical report entitled "Technical Report on the Dixie Flats-North Star Gold Exploration Property", Elko, Nevada, dated September 21, 2022, which has been filed on SEDAR at www.Sedar.com.
Qualified Person:
Mr. Steve McMillin, M.Sc., C.P.G. is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this news release.
About Showcase Minerals Inc.
Showcase is a Canadian mineral exploration company with an exclusive option to acquire a 100% interest in Dixie Flats-North Star Gold Project and the Woodruff Gold-Vanadium Project (subject to various net smelter returns royalties ranging from 2.25% to 4.25%), which collectively consist of unpatented 254 lode mining claims covering approximately 1,818 hectares located in Elko County, Nevada.
For further information, please contact:
Kirk Reed, President
Showcase Minerals Inc.
Telephone: 1-800-982-0670
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