April 4, 2024
STLLR Gold Announces Windjammer South Infill Drilling Results at the Tower Gold Project and Appointment of VP Projects & Technical Services
TORONTO, Ontario, April 4, 2024 – STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) (“STLLR” or the “Company”) announces the remaining assay results from the infill and confirmatory drilling program at the Windjammer South Deposit at the Golden Highway Area (western end) of the Tower Gold Project in Timmins, Ontario, Canada. STLLR appoints James Gagne, P.Eng., MBA, as the Vice President, Projects & Technical Services.
Table 1: Windjammer South Drilling Highlights (See Figures 2 and 3 for the drill location map and section views):
“g/t Au”: grams per tonne gold; “m”: metres
Tower Gold Project Update:
· 129,737 m, in 477 drill holes, of the 140,000 m infill drill program completed have been released.
Keyvan Salehi, P.Eng., MBA, President, CEO, and Director of STLLR stated: “Windjammer South Deposit infill drilling results continue to confirm the continuity of mineralization of the Tower MRE block model. Drill hole MGH23-484 appears to have intersected mineralization that was previously modelled as waste, suggesting a potential addition to the known mineralization in that area. Overall, the drilling information gives us additional confidence in the Tower MRE block model in the areas drilled.”
“We are pleased to announce the appointment of James Gagne, P.Eng., MBA as Vice President, Projects & Technical Services. James brings significant technical and operational experience from the Timmins and Kirkland Lake mining camps. I’ve known James for the entirety of his mining career; We worked together at Lake Shore Gold and we were involved with the construction and operation of the Bell Creek and Timmins West Mines. James will play an instrumental role as we advance our cornerstone Tower Gold and Colomac Gold Projects.”
Windjammer South Deposit Drilling
The Windjammer South Deposit is located on the Golden Highway Area (western end) of the Tower Gold Project in Timmins, Ontario (See Figure 1 for the Tower Gold Project - General Location Map). Mineralization at Windjammer South is associated with extensional and stockwork-type quartz veining within Timiskaming age meta-sediments, located between 2 major splays of the prolific Destor-Porcupine Fault Zone. The 2023 drill program at Windjammer South was focused on confirming and infilling (50 m drill-centre spacings) the Tower Gold Project Mineral Resource Estimate[1] (“Tower MRE”).
The results from this batch of drilling (please also refer to the Company’s October 19, 2023 news release for the previous batch of drilling at Windjammer South) appear to confirm the continuity of the Windjammer South mineralization as estimated by the Tower MRE block model. This is evident particularly with holes MGH23-468, MGH23-478 and MGH23-507 (See Figures 2 & 3). In addition:
· Drill hole MGH23-484 (See Figures 2 & 3): Intersected significant mineralization in an area previously modelled as waste.
· Drill holes MGH23-483, MGH23-489, MGH23-490, MGH23-493, and MGH23-494: Geomechanical and Geometallurgical drilling that will benefit future mine designs.
Overall, the drilling at Windjammer South confirmed the Tower MRE block model. The increased drill density provides the potential to upgrade the areas drilled to a higher resource category and further define future geological models.
Appointment of VP Projects & Technical Services
The Company has appointed Mr. Gagne to the role of Vice President, Projects & Technical Services. James brings 15 years of progressive experience in mine operations, engineering, and consulting. Previously, Mr. Gagne was with Kirkland Lake Gold as the Mine Superintendent of the Macassa Mine and was then promoted to the role of Manager of Mining. As the Manager, James was responsible for the totality of site operations comprised of 3 shafts, a paste plant, and a processing facility. He was also involved with the execution of various major projects such as the new #4 Shaft, the commencement of the Near Surface Portal deposit, and the new overall mine ventilation upgrade within the complex. At Lake Share Gold (subsequently acquired by Tahoe Resources then Pan American Silver), James was involved with the construction, ramp-up and operation of the Bell Creek and Timmins West Mines in the Timmins Mining Camp. He held various roles in engineering and operations, ultimately becoming the Senior Production Engineer. Prior to joining STLLR, James was the General Manager at Black Rock Engineering within the IONIC Technology Group, a firm that specialized in providing engineering services to mining and heavy industries across North America. Mr. Gagne received his Bachelor of Engineering at Laurentian University, his MBA at the Lazaridis School of Business & Economics at Wilfrid Laurier University and is a Professional Engineer in Ontario.
Figure 1: Tower Gold Project - General Location Map
Figure 2: Tower Gold Project – Windjammer South Deposit: Infill Drill Location Map
Figure 3: Tower Gold Project – Windjammer South Deposit: Infill Drilling Cross Section “A-B”
Table 2: Tower Gold – Windjammer South Deposit: Drill Intercepts
Note: All intercepts are calculated using a 0.30 g/t Au cut-off, a maximum of 5m internal dilution and no top cap applied. Drill intercepts are not true widths. Geomechanical and Geometallurgical drill holes are not shown in the section because they were not assayed.
Table 3: Tower Gold – Windjammer South Deposit: Infill Drill Hole Details
Quality Control Procedures
NQ drill core is oriented and cut with half sent to ALS Laboratories Inc. (ALS) for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). ALS is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. STLLR inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates, as well as completing routine third-party check assays at Bureau Veritas Commodities Canada Ltd.
Qualified Person
John McBride, MSc., P.Geo., Vice President of Exploration for STLLR, who is the “Qualified Person” as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release.
About STLLR Gold
STLLR Gold Inc. (TSX: STLR; OTCQX: STLRF; FSE: O9D) is a Canadian gold development company actively advancing two cornerstone gold projects in Canada: The Tower Gold Project in the Timmins Mining Camp in Ontario and the Colomac Gold Project located north of Yellowknife, Northwest Territories. Each of these two projects has the potential for a long-life and large-scale operation and are surrounded by exploration land with favorable upside potential. STLLR’s experienced management team, with a track record of successfully advancing projects and operating mines, is working towards rapidly advancing these projects.
Contact Us
STLLR Gold Investor Relations
+1 (416) 863-2105 | investors@stllrgold.com | www.STLLRgold.com
Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to timing of the updated Tower MRE, confirmation of the Tower MRE block model, potential expansion of the known mineralization at the Tower Gold Project, the timing of the release of the assay results from Tower Gold project drilling, the goals, synergies, strategies, opportunities, profile, mineral resources and potential production, project timelines, prospective shareholding, integration and comparables to other transactions, the future financial or operating performance of STLLR and STLLR’s mineral properties and project portfolios, the advancement of the Tower Gold and Colomac Gold Projects, long-life and large-scale potential of the Tower and Colomac Gold Projects and exploration upside of the land packages. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “accelerate”, “add” or “additional”, “advancing”, “anticipates” or “does not anticipate”, “appears”, “believes”, “can be”, “conceptual”, “confidence”, “continue”, “convert” or “conversion”, “deliver”, “demonstrating”, “estimates”, “encouraging”, “expand” or “expanding” or “expansion”, “expect” or “expectations”, “fast-track”, “forecasts”, “forward”, “goal”, “improves”, “increase”, “intends”, “justification”, “leading”, “plans”, “potential” or “potentially”, “pro-forma”, “promise”, “prospective”, “prioritize”, “reflects”, “re-rating”, “robust”, “scheduled”, “stronger”, “suggesting” or “suggests”, “support”, “updating”, “upside”, “will be” or “will consider”, “work towards”, 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”.
Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of STLLR to be materially different from those expressed or implied by such forward-looking information, including risks associated with required regulatory approvals, the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, the ongoing wars and their effect on supply chains, environmental risks, COVID-19 and other pandemic risks, permitting timelines, capex, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the joint management information circular of STLLR dated December 20, 2023, available on www.sedarplus.ca. Although STLLR has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. STLLR does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
[1] For more information on the Tower MRE and Tower PEA effective as of September 7, 2022, please refer to the NI 43-101 technical report titled “NI 43-101 Report & Preliminary Economic Assessment of the Tower Gold Project Northeastern Ontario, Canada” dated November 29, 2022, which is available on STLLR Gold’s profile on SEDAR+ www.sedarplus.ca and www.stllrgold.com