STLLR Gold Intersects 1.56 g/t Au over 62.30 m and 1.12 g/t Au over 99.40 m at the Colomac Main Deposit
Aug 1, 2024
TORONTO, Ontario, August 1, 2024 – STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) (“STLLR” or the “Company”) announces assay results from the exploration drilling at the Colomac Gold Project in the Northwest Territories, Canada.
Table 1: 2024 Exploration Drilling Highlights – Colomac Main Deposit (See Figures 1-7):
“g/t Au”: grams per tonne gold; “m”: metres
Keyvan Salehi, P.Eng., MBA, President, CEO, and Director of STLLR stated: “Our drilling program at the Colomac Main Deposit continues to impress. The results show significant coarse gold intersections in areas lacking drill data and lying outside the 2023 Colomac PEA pit-shell[1]. We strongly believe in the immense mineral resource growth potential of the Colomac Main Deposit, which remains open in several directions. We are expecting additional assay results from Colomac in the coming weeks.”
Colomac Gold Project Drilling – Colomac Main Deposit (See Figures 1-7)
The Colomac Main Deposit, the primary deposit of the Colomac Gold Project, occurs in a north-south striking differentiated mafic sill, approximately 9 km long and up to 155 m wide, bounded by mafic volcanic rocks. Mineralization predominantly consists of free gold, associated with quartz-carbonate veining and minor sulphides.
The Colomac Main Deposit is divided into six mineralized zones along its strike. 2024 drilling focuses on the southern end (Zones 2.5, 3.0, & 3.5) of Colomac Main, targeting areas with limited drilling data and potential for higher-grade gold mineralization. This phase of drilling targeted Zones 2.5 and 3.0 below the 2023 Colomac PEA pit-shell1. Significant mineralization was intersected near deep cross-cutting geological fault structures. Holes C24-07 and C24-06 encountered coarse gold within wider than expected intervals of mineralized quartz-diorite, the primary host rock for gold in the deposit. Hole C24-07 is a 70 m step-out to the north along strike from previously released Hole C24-05[2], and, combined with previously released Hole C24-01[3], demonstrates a continuous mineralized zone over a 170 m strike length below the 2023 Colomac PEA pit-shell1. Additional drilling has tested the down-dip extension of this zone, with assay results pending.
Hole C24-10, located south of Hole C24-06, intersected lower-grade mineralization, ending with narrow, higher-grade intervals at depth. Hole C24-08 did not intersect significant mineralization due to an offset of the Colomac Main sill related to the deep cross-cutting geological structures.
Figure 1: Colomac Main – Photo of Coarse Gold Intersected by Hole C24-07 (360.95 m)
Figure 2: Colomac Main – Photo of Coarse Gold Intersected by Hole C24-06 (267.75 m)
Figure 3: Colomac Gold Project – Property Map and Deposit Locations
Figure 4: Colomac Main - Exploration Results Map
Figure 5: Colomac Main – Exploration Drilling Long Section “E-F” Looking West
Figure 6: Colomac Main – Exploration Drilling Section “C-D” Looking North
Figure 7: Colomac Main – Exploration Drilling Cross Section “A-B” Looking North
Table 2: Exploration Drilling 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.
Table 3: Exploration 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 30 g charge at Colomac are 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 favourable 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 the potential expansion of the known mineralization at the Tower Gold Project and Colomac Gold Project, the discovery of new gold mineralization, the timing of the release of the assay results, 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 Company’s Annual Information Form for the year ended December 31, 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 Colomac Gold Project Preliminary Economic Assessment (“2023 Colomac PEA”), please refer to the NI 43-101 technical report titled “Colomac Gold Project NI 43-101 Technical Report and Preliminary Economic Assessment, Northwest Territories, Canada” dated June 9, 2023 which is available on SEDAR+ www.sedarplus.ca the Company’s website (www.stllrgold.com).
[2] Please refer to the STLLR June 26, 2024 news release on the Company’s website (www.stllrgold.com) or on SEDAR+ (www.sedarplus.ca)
[3] Please refer to the STLLR June 13, 2024 news release on the Company’s website (www.stllrgold.com) or on SEDAR+ (www.sedarplus.ca)