VANCOUVER, BC, Feb. 4, 2025 /CNW/ - 1911 Gold Corporation ("1911 Gold" or the "Company") (TSXV: AUMB) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce the assay results from ten (10) drill holes for 2,222.00 metres ("m") from the surface exploration drilling program currently in progress at the True North Project located on the Company's 100%-owned Rice Lake Gold property in Manitoba, Canada.
Highlights:
Drill results confirmed the extension of quartz vein hosted, near-surface gold ("Au") mineralization on both the San Antonio West and Hinge East targets
San Antonio West Target
Drill results confirmed the western extension of gold mineralization hosted within the prolific San Antonio mafic unit, including:
Drill hole TN-24-005 intersected 3.10 m @ 2.45 grams per tonne ("g/t") Au at a down-hole depth of 122.75 m and 0.65 m @ 7.76 g/t Au at a down-hole depth of 147.00 m
Drill hole TN-24-006 intersected 4.84 m @ 3.70 g/t Au at a down-hole depth of 125.38 m, including 1.05 m @ 7.23 g/t Au and 0.91 m @ 8.42 g/t Au
Drill hole TN-24-007 intersected 1.80 m @ 2.49 g/t Au at a down-hole depth of 115.45 m
Hinge East Target
Drilling intersected a wide quartz vein, and vein breccia intersected at 33.00 m vertical depth within a 42.60 m core length, including:
Drill hole TN-24-003 intersected 3.45 m @ 2.85 g/t Au at a down hole depth of 44.65 m, including 0.55 m @ 6.20 g/t Au and 0.50 m @ 6.30 g/t Au
Shaun Heinrichs, President & CEO, stated, "When we first reviewed our updated model in 2024 and identified these prospective targets, we were surprised to find that these areas had largely remained untested at the surface, despite positive results at depth or along strike. Now that we are seeing the initial results from our first phase of drilling, we are excited about the potential for a parallel vein structure at San Antonio West, as well as the possible near-surface mineralization at Hinge East. Using these results and historical drilling data in the area, Michele and his team have designed a follow-up program to trace this mineralization along strike and to depth. A second drill rig will mobilize in the coming weeks as we expand the drill program and continue advancing these targets alongside the ongoing drilling underway at the San Antonio Southeast target.
Figure 1: Simplified True North geology map and drill hole locations (CNW Group/1911 Gold Corporation)
Figure 2: Isometric view of True North Mine Complex with target area locations, underground workings, and known vein shapes (light blue) (CNW Group/1911 Gold Corporation)
2) Maximum of 2.50 m internal dilution and no top capping applied
3) Intervals represent drill core length and are considered to represent 60% to 90% of true widths
4) Significant Assay Results included in Table 2
5) Drill hole Information included in Table 3
San Antonio West target
The San Antonio West target covers the western extension of the historically mined San Antonio zone of the True North Mine gold mineralized vein system. Drilling completed to date has confirmed the extension of gold mineralization to over 260 m west of the San Antonio zone and to depths of over 170 m. Six (6) holes for a total of 921.00 m were drilled within this target, of which four intersected significant gold mineralization within shear veins hosted in the San Antonio mafic ("SAM") gabbro unit, which hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at a grade of 9.33 g/t Au.
The mineralized intercepts are characterized by quartz-carbonate shear veins with sericite, chlorite, minor tourmaline alteration and up to 2% pyrite disseminated and veinlets. They are interpreted to be the western extension of the San Antonio zone vein system. Drill hole TN-24-005 intersected 3.10 m @ 2.45 g/t Au from 122.75 m downhole depth within strong silicified mafic and 0.65 m @ 7.76 g/t Au from 147.0 m downhole depth in a shear vein with tourmaline and chlorite alteration and disseminated pyrite within the SAM unit. Drill hole TN-24-006 intersected 4.84 m @ 3.70 g/t Au from 125.38 m downhole depth, including 1.05 m @ 7.23 g/t Au from 126 m and 0.91 m @ 8.42 g/t Au from 128.55 m downhole within a quartz-carbonate shear vein with 2% pyrite disseminated and in veinlets.
The potential exists to extend the mineralized zone to the east, approximately 150 m to the edge of the SAM vein system and at depth following its known dip (50° to the NNE). The Company is planning a follow-up drilling program to test the open extensions of mineralization.
Figure 3: Long Section (AA1) of San Antonio West Target with drill hole intercepts and San Antonio Zone underground workings and mined area (CNW Group/1911 Gold Corporation)
Figure 4: Expanded Long Section (AA1) of San Antonio West Target with drill intercepts (CNW Group/1911 Gold Corporation)
Hinge East Target
The Hinge East target covers the gold mineralized vein extensions hosted within the Dacitic Lapilli Tuff unit between the Hinge Zone and Cohiba Zone within the True North Project. Two (2) drill holes for 544.00 m were completed. Drill hole TN-24-003 intersected a shallow wide quartz vein (42.60 m core length) with a weighted average of 0.49 g/t Au. A higher-grade interval was defined within the vein system of 3.45 m at 2.85 g/t Au from 44.65 m down hole depth, including 0.55 m @ 6.20 g/t Au and 0.50 m @ 6.30 g/t Au. This interval is characterized by quartz-carbonate shear vein with sericite and chlorite alteration and 1% disseminated pyrite. Drill hole TN-24-004, designed to undercut TN-24-003 by 50 m, intersected 17.00 m of quartz vein containing 0.84 m @ 1.96 g/t Au. The mineralized zone is interpreted to be open along strike to the west within favourable host rock and along a shear zone, in an area never explored, where further drilling is currently being planned.
Cohiba East target
The Cohiba East target was interpreted as the eastern extension of the Cohiba Zone vein system hosted within the Volcaniclastic "B" unit. Two (2) drill holes, totaling 757.00 m, were completed on this target, intersecting quartz veining without significant gold mineralization.
San Antonio Southeast target
The San Antonio Southeast target is the southeastern extension of the known gold mineralization within the San Antonio Zone vein system. It is located at the intersection of the highly mineralized SAM unit and the interpreted L10 shear zone.
The drill program is ongoing on this target with the completion of twelve (12) holes for a total of 3,522 m, ten (10) of the drill holes intercepted the interpreted shear zone with quartz-carbonate veining within the SAM unit. Final assay results are pending for these holes.
Next Steps
The current planned drill program testing targets within the True North Gold Mine complex has been successful in the definition of several new areas of gold mineralization, confirming the near surface extensions of gold mineralization for the San Antonio West, Hinge East and San Antonio Southeast target areas (assay results pending). Based on the results received to date and the new exploration targets that have been developed, 1911 Gold will extend the current surface drill program. Work has commenced on recommissioning the hoist on the A Shaft to provide access for underground drilling from the 16 level in the True North underground mine. The review of potential regional targets within the greater Rice Lake greenstone belt, including at Central Manitoba is also underway.
Quality Assurance/Quality Controls (QA/QC)
Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. . Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values greater or equal to 5.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold, depending on the amount of sample material remaining available. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat gold analyses for 5% of all submitted sample pulps conducted at a third-party certified laboratory.
Qualified Person Statement
The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera, P.Geo, Vice-President Exploration of 1911 Gold, who is a "Qualified Person" as defined under NI 43-101.
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba. 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on organic growth and accretive acquisition opportunities in North America.
1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
