STLLR Gold Intersects 2.81 g/t Au over 18.50 m (Including 71.80 g/t Au over 0.50 m) at the Colomac Main Deposit
Sept 16, 2024
TORONTO, Ontario, September 16, 2024 – STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) (“STLLR” or the “Company”) announces the final batch of assay results from the exploration drilling at the Colomac Gold Project (the “Project”) in the Northwest Territories, Canada.
Table 1: 2024 Exploration Drilling Highlights – Colomac Main Deposit (See Figures 1-5):
“g/t Au”: grams per tonne gold; “m”: metres
Keyvan Salehi, P.Eng., MBA, President, CEO, and Director of STLLR stated: “Our 2024 drilling campaign at Colomac concluded successfully, revealing mineralized zones beyond the known mineralization and below the 2023 Colomac PEA pit shell1. The results suggest the potential to expand the Project’s estimated mineral resources. With exploration drilling at both Colomac and the Tower Gold Project in Timmins now complete, we are focused on finalizing the updated Mineral Resource Estimate for the Tower Gold Project.”
Colomac Gold Project Drilling – Colomac Main Deposit (See Figures 1-5)
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.
The 2024 drilling campaign focused on the southern end of Colomac Main (Zones 2.5, 3.0, and 3.5) in areas with limited data and potential for higher-grade gold mineralization. The latest drilling targeted Zones 2.5 and 3.0 below the 2023 Colomac PEA pit shell[1]. Significant mineralization was intersected near deep, cross-cutting geological fault structures. Holes C24-14 and C24-12 encountered intervals of mineralized quartz-diorite, the primary host rock for gold in the deposit, below the known mineralization.
Figure 1: Colomac Gold Project – Regional Map
Figure 2: Colomac Main Deposit – Drill Location Map
Figure 3: Colomac Main Deposit – Longitudinal Section Looking West
Figure 4: Colomac Main Deposit – Cross Section “C-D” Looking North
Figure 5: Colomac Main Deposit – Cross Section “A-B” Section 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 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 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 completion of an updated Mineral Resource Estimate for the Tower 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).