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Hanstone Gold Announces Results of UAV Magnetic Survey Outlining Numerous Potential Additional Targets

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VANCOUVER, British Columbia, April 15, 2021 (GLOBE NEWSWIRE) — Hanstone Gold Corp. (TSX.V: HANS, FSE: HGO) (“Hanstone” or the “Company”) is pleased to provide a summary of the results from the UAV Magnetic Survey (the “mag survey”) undertaken on its flagship Doc Property, located within 2km of the Kyba Red Line in British Columbia’s prolific mining district known as the Golden Triangle. The survey resulted in the generation of several additional potential drill targets for the planned 2021 drill program. Two of the magnetic low anomalies, coincidental with previously known historically drilled mineralized structures, were verified with significant gold intersections during the 2020 large diameter core drill program (see December 3, 2020 Company News Release).

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65307a6e-d678-43db-bd7f-5843dfe2bc99

Kyba Red Line: “World-class porphyry/intrusion related Au-Cu deposits occur with 2 km of the Kyba Red Line” (Northern Miner, 2015)

Doc zone core drilling and surface sampling in 2020 returned several high gold grades with assays as high as 241.89 g/t Au surface sample and 113.7 g/t Au in drill core over 1.28 meters. Results from the 2020 drill program on the neighbouring Q26 zone also returned significant gold assays including 5.1 g/t Au over 1.97 m and 2.2 g/t Au over 6.0 meters.

The results of the mag survey carried out in late 2020 demonstrate that both the Doc and Q26 zones are associated with low magnetic signatures (blue) and adjacent magnetic highs to the west (red) of each low. Based on the 2020 drill results, it appears the gold bearing mineralized structures and vein systems occur proximal to the transition between the magnetic highs and lows.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d6c7be8f-9e31-4c5e-9cf0-b7cd43a6e0b7

The mag survey also outlined a much larger, deep seated area of low magnetic density bordered by a high magnetic area to the west known as the “Doc Offset”. The significantly larger Doc Offset zone is one of the many potential targets to be investigated in 2021 with surface mapping, sampling, and potential drill testing.

As shown in the figure below, the Q26, Doc and the Doc Offset all exhibit the same low magnetic profile. These zones may have been part of a larger mineralized system that has been offset by strike slip faulting. Current plans are to test this theory during the 2021 exploration program with mapping and sampling and possible drill testing of this deeper seated magnetic low occurrence.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a65615d7-144b-46e2-bd7c-66d969301864

Concurrent with the follow-up of untested mag survey areas, the 2021 drill program will focus on the Doc and Q26 zones to extend the known mineralized structures both along strike and at depth with the goal of outlining an NI 43-101 compliant preliminary mineral resource on the Doc Property.

Additional information can be found on the company’s website at www.hanstonegold.com .

Ray Marks, President and CEO of Hanstone stated:

Management is confident that the results of the UAV Magnetic Survey can assist in the planning of the 2021 exploration and the locations of drill program priority targets. The magnetic signatures appear to be coincidental with the previously known mineralized occurrences and have uncovered previously unexplored potential targets for further evaluation. Hanstone is excited to test the newly interpreted Doc Offset which seems analogous to the mineralized Doc and Q26 areas.
We are all looking forward to providing our shareholders with an exciting 2021 drilling and exploration program that is designed to further define potential mineral resources and additional targets for exploration and future development.”

About Hanstone:

Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North Projects optimally located in the heart of the prolific mineralized area of British Columbia known as the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past-producing mines and several large deposits that are approaching potential development. The Company holds a 100% earn in option in the 1,704-hectare Doc Project and owns a 100% interest in the 3,336-hectare Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful track record in the discovery of gold deposits and in developing mineral exploration projects through discovery to production.

Ray Marks, President and Chief Executive Officer

The technical information in this news release has been reviewed and approved by Doug Engdahl, P.Geo. (President & CEO, Axiom), and Matthew Schwab, P.Geo. (Senior VP, Axiom), each of whom is a “Qualified Person” for the Company as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

For Further Information Contact:

Carrie Howes, Director of Communications+1-778-551-8488, carrie.howes@hanstonegold.com
Or visit the Company’s website at www.hanstonegold.com.

Cautionary Statement Regarding Forward Looking Information:

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified using words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations 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” or the negative connotation thereof.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Hanstone’s business and the industry and markets in which it operates and will operate. Forward-looking information and statements are made based upon numerous assumptions, including among others, the results of planned exploration activities are as anticipated, the price of gold, the cost of planned exploration activities, that financing will be available if needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct Hanstone’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances, and achievements of Hanstone to differ materially from any projections of results, performances, and achievements of Hanstone expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that future assay results will not confirm previous results, imprecision of mineral resource estimates, the uncertainty of commodity prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company’s title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information because of new information or events except as required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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