Company Acquires Claims Adjacent to the Premier Mine
Stewart, British Columbia--(Newsfile Corp. - November 6, 2018) - Decade Resources Ltd (TSXV: DEC) ("Decade" or the Company) is pleased to announce it has staked 19 claims totaling approximately 158 ha in the Hyder Mining Division in Alaska. These claims are situated along the international border and are adjacent to the Premier Mine property located on the Canadian side of the border 22 km north of Stewart BC.
The claims encompass a number of historic mineral showings that are located in Jurassic age intrusive rocks within the Texas Creek Plutonic suite. These Jurassic age intrusions (193-195 Ma Premier Porphyries near Stewart; Mitchell intrusions at Kerr-Sulphurets-Mitchell deposits) are related to mineralizing events in the Stewart area and Sulphurets-Mitchell valleys. Deposits related to the this suite of rocks include the Premier-Big Missouri deposits, Brucejack Lake and KSM porphyry copper-gold deposits.
The newly acquired claims cover the historic Crest property that is described in Bulletin 807, Geology of Hyder and Southeastern Alaska by A. F. Buddington in 1929. According to Buddington, a NW trending quartz-sulphide vein is present on the property. He describes the vein as follows: "At one open cut, in the bed of a small gulch, the vein consists of a number of small quartz stringers, some of which carry free gold. Assays of the quartz have yielded as high as $105 in gold to the ton. At another open cut a moil sample of the country rock and quartz stringers, 2 feet in width averaged $4.50 in gold to the ton. The mineralized shoots run from $7 to $12 in gold to the ton." These results are historic and have not been confirmed by Company sampling. Values of gold per ton above are calculated when the price of gold was $20/ton.
Silt sampling along creeks crossing the Granduc road by the Company subsequent to the acquisition yielded up to 0.2 g/t gold in stream sediments. The anomalous results from the stream sampling indicate the presence of gold bearing structures on the newly acquired claims.
Ed Kruchkowski, President of the Company states: "The high grade nature of the veining on the new claims is attractive given that a milling facility may be present 7 km away by an all-weather road. An announcement that the nearby Premier mill may be put back into production in the near future makes this latest acquisition an attractive exploration property given the high grade gold nature of the veins."
The Company would also like to advise it is awaiting results from the Red Cliff drilling. Once results are received and tabulated, the Company will be releasing the assays.
The Company is undertaking a non-brokered private placement of flow-through units to raise aggregate gross proceeds of up to $650,000 for expenditure on the Red Cliff project. Several tranches of financing have been completed to date.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the Company and is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca which is presently being updated. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.
"Ed Kruchkowski"
Ed Kruchkowski, President
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"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."