ancouver, BC, Canada, November 24th, 2020 – Gaia Metals Corp. (the “Company”) (TSX.V: GMC) (OTCQB: RGDCF) (FSE: R9G) is pleased to announce high-grade assay results from the follow-up surface sampling program completed this fall on the Freeman Creek Gold Property (the “Property”).
This follow-up three (3) day field program was completed in October, focusing in on the area that discoveries were made at the Carmen Creek Prospect during the Company’s inaugural exploration of the Property in August (see news releases dated September 10th and October 13th, 2020) . The objective of the program was to expand upon the high-grade rock samples collected along the Carmen Creek Trend and to gain further knowledge of the surrounding areas.
The Company is pleased to report significant grades of gold in addition to the highest silver and copper grades reported to date from the Prospect. A total of 48 outcrop/talus samples were collected during the program with highlights including:
- High-grade samples from the northwest end of the core Carmen Creek occurrence
- 13.1 g/t Au, 83.6 g/t Ag, and 0.78% Cu
- 1.320 g/t Ag 53.4% Cu, and 0.01 g/t Au
- Discovery of new mineralized vein in the most eastern explored area of the Carmen Creek Trend
- 2.63 g/t Au, 16.5 g/t Ag, and 0.04% Cu
- 331 g/t Ag, 7.06% Cu, and 0.16 g/t Au
- Discovery of two new clusters of mineralized outcrop/talus to the east and north of the main Carmen Creek Trend, thus extending the trend’s potential footprint.
- 4.04 g/t Au
- 0.71 g/t Au, 27.3 g/t Ag, and 0.75% Cu
Figure 1: 2020 Map of Gaia Metals’ Freeman Creek Gold Property and the Recent High-Grade Samples Reported from the Carmen Creek Prospect
Gaia Metals President & CEO, Adrian Lamoureux, states, “2020 has been a very busy year for our Company. We have been aggressively positioning the Company both corporately and structurally, all-the- while advancing the Freeman Creek Gold Property in Idaho. Through systematic exploration we have targeted and discovered mineralization that has positioned the Company for an exciting 2021. Our Technical team has been successful in focusing on select areas of the Property and carried out Phase 1 of surface exploration – with great results thus far. We completed our maiden drill program at the Gold Dyke Prospect, which included building access roads to areas of interest. This bodes well for a more extensive and focused drill program in Q1-Q2 of 2021. While constructing the access roads at Gold Dyke, our team identified additional potentially mineralized outcrop, of which samples have been sent for analysis. On behalf of Gaia Metals, I would like to thank our Management Team, Technical Team, and American/Canadian partners for staying safe, healthy, and having successfully completed our maiden surface and drill exploration programs at the Property.”
The results of the 3-day program have further expanded the known area of mineralization at Carmen Creek, in particular to the southeast and outside of the initially interpreted mineralized trend/corridor. To date, mineralization along the trend has been identified over a strike length of at least 1.2 km, and a corridor at least 300 m across.
The Carmen Creek potential has grown as a result of this newly discovered mineralized occurrence further along strike of the known trend (2.63 g/t Au, 16.5 g/t Ag, and 0.04% Cu; and 0.16 g/t Au, 331 g/t Ag, and 7.06% Cu) and the two new areas of mineralization located to the north and east of the easternmost sampling completed to date in the area (4.04 g/t Au; and 0.71 g/t Au, 27.3 g/t Ag, and 0.75% Cu).
In addition, recent sampling focused approximately 400 to 500 m to the south and east of the Carmen Creek Trend has resulted in the discovery of several mineralized showings of outcrop and talas. Samples collected of mineralized quartz veins from this area of the Property included assay results of 1.47 g/t Au (outcrop), 0.73 g/t Au (talus), and 0.74 g/t Au (talus), each with variable amounts of Ag and Cu. This region of the Property, including the areas surrounding the known corridor of mineralization at Carmen Creek, remain very underexplored.
Collectively, 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 is underexplored and has never been drill tested, 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 Carmen Creek Prospect has never been drill tested and its depth extent is not known. However, the permitting process for an inaugural diamond drill program by the Company is underway. The potential of this prospect has been enhanced considerably following the completion of the 2020 surface exploration.
Table 1: Select Samples Collected Along the Carmen Creek Trend/Corridor
|Sample ID||Section of Mineralized Trend||Source||Au|
|X denotes previously announced result (see new releases dated September 10 and October 13, 2020)|
QA/QC Analytical Procedures
All rock samples collected (grab), as well as quartz blanks and certified reference materials, were shipped by ground to Activation Laboratories Ltd. in Kamloops, BC for multi-element analysis (including Ag) by aqua regia digestion with ICP-OES finish (code 1E3) and Au analysis by fire assay with AA finish (package 1A2B-50). Over limits for Au, Ag, and Cu were determined by the relevant analytical package.
Management cautions that prospecting surface rock sample assays, as presented herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.
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’s flagship asset is the Freeman Creek Gold Property, located in Idaho, USA. The Property hosts two major advanced targets; the Gold Dyke Prospect, with an historical drill intercept of 1.5 g/t Au and 12.1 g/t Ag over 44.2 m (RDH 8), and the Carmen Creek Prospect, with surface sample results including 25.5 g/t Au, 159 g/t Ag and 9.75% Cu.
Additional assets include the wholly owned Corvette Property, and the FCI Property (held under Option from O3 Mining Inc.) located in the James Bay Region of Quebec. The properties 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.
On Behalf of the Board of Directors,
Adrian Lamoureux, President & CEO
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.