Gaia Metals to Complete IP-Resistivity Survey at the Freeman Creek Gold Property, Idaho, USA
VANCOUVER, BC / ACCESSWIRE / March 10, 2021 / Gaia Metals Corp. (the "Company") (TSXV:GMC)(OTCQB:RGDCF)(FSE:R9G) is pleased to announce its plans to complete a 16-line km induced polarization and resistivity (IP-Resistivity) geophysical survey this spring at the Company's wholly owned Freeman Creek Gold Property (the "Property"). The Property is located 15 km northeast of Salmon, Idaho, and is road accessible year-round.
The objective of the survey at the Carmen Creek Prospect is to locate any additional and yet to be discovered parallel trending mineralised structures, as well as further trace them along strike. In addition, the survey will probe to depths of approximately 120 m and allow for further discrimination of targets along the strike of the structure(s). The data obtained will be integrated with the Company's existing datasets, and used to confirm and prioritize the initial drill hole plan for the Carmen Creek Prospect.
The objective of the survey at the Gold Dyke Prospect is to further define the trend of the mineralization, and to prioritize and refine drill hole targets, to follow-up the successful 2020 drill program, where gold mineralization was encountered in each drill hole, highlighted by FC20-003 which returned 4.11 g/t Au and 33.0 g/t Ag over 12 m, within a wider interval of 1.12 g/t Au and 9.0 g/t Ag over 47.6 m (see news release dated January 12th, 2021). The results of the 2020 drill program at the Gold Dyke Prospect indicate that a wide-spread, low-grade gold mineralized envelope is present, which also contains a high-grade component of unknown extent. The high-grade precious metal mineralization present in drill hole at the Gold Dyke Prospect is indicated to be primarily associated with quartz veining rich in sulphide (pyrite, galena, sphalerite), hosted within heavily altered metasediments.
President & Director Blair Way commented: "A fundamental key to success in mineral exploration is to utilize the best-suited tools at one's disposal to optimally qualify targets ahead of drilling. At Carmen Creek, the IP survey should do exactly this and help us further focus in on the most prospective segment of the structure(s) present. At Gold Dyke, the Company's inaugural drill program confirmed the historical drill hole intersections and has refined our exploration model and approach. The pending geophysical survey at Gold Dyke should allow us to better understand the trend of the high-grade mineralization and further prioritize drill targets ahead of follow-up drilling at the Prospect."
The Company has engaged TMC Geophysics to carry-out the field survey, a leading geophysical services provider to the mineral exploration industry with a head office in Canada, as well as satellite offices in the United States and Mexico. The Company has also retained Dynamic Discovery Geoscience Ltd., an expert geophysical group based in Ottawa, ON, to assist with survey design and interpretation.
IP-resistivity is a ground geophysical survey well suited to detect near-surface disseminated sulphide mineralization (IP anomalies), as well as areas of alteration and/or silicification (resistivity anomalies). This geophysical tool is commonly used in gold and base metal exploration and is often effective at qualifying drill targets initially developed from surface mapping and sampling.
The IP-resistivity survey will be completed over both, the Carmen Creek Prospect (~10-line km) and the Gold Dyke Prospect (~6-line km), with the primary objective to further prioritize targets for an inaugural drill program at Carmen Creek, and to refine drill hole locations for follow-up drilling at Gold Dyke. The surveys are expected to elucidate a chargeability response reflective of the sulphides present, which are associated with gold and silver mineralization at both prospects. This association is strongest at Carmen Creek, where sulphide content is greatest. Areas of silicification or alteration, associated with the precious metal mineralization, may also elucidate a resistivity response. The geophysical responses over the currently defined mineralized zones will be used as markers to detect similar responses over the area, which may represent additional, yet to be discovered zones of mineralization.
The sampling to date at Carmen Creek indicates the presence of multiple, closely spaced, parallel trending mineralized structures/vein(s) over a mapped strike length of at least 1.2 km, spanning a corridor of 300+ m, and is open at both ends. The trend has no known historical records of drill testing, having only been evaluated at a reconnaissance scale by the Company. The mineralization (oriented ~135°/65°) is characterized by chlorite mica-schists with quartz veining, magnetite, and common malachite and sulphides (bornite, chalcopyrite, pyrite). Field prospecting along the trend has returned numerous samples that range in grade from 2.0 to 25.5 g/t Au, 10 to 269 g/t Ag, and 0.13 to 32% Cu.
The Company is fully permitted to carrying out a follow-up phase of drilling at the Gold Dyke Prospect in 2021, pursuant to its declared Notice of Intent on file with the Bureau of Land Management (BLM). Permitting for an inaugural drill program at the Carmen Creek Prospect is progressing to plan, and is expected to be completed by late spring/early summer this year.
Qualified Person
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration for the Company and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Gaia Metals Corp.
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals, including platinum group elements, and lithium. The Company has two flagship assets; the Freeman Creek Property, located in Idaho, USA, and the Corvette-FCI Property, located in the James Bay Region of Quebec, Canada.
The Freeman Creek Property hosts two major advanced targets; the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.
The Corvette-FCI Property includes the wholly owned Corvette claim block, and the FCI East and West claim blocks held under Option from O3 Mining Inc. The claim blocks are contiguous and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
For further information, please contact Adrian Lamoureux, CEO & Director at Tel: 778-945-2950, E-mail: adrian@gaiametalscorp.com or visit www.gaiametalscorp.com.
On Behalf of the Board of Directors,
"ADRIAN LAMOUREUX"
Adrian Lamoureux, CEO & Director
Neither the 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 news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: Gaia Metals Corp.
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