Gespeg Starts Exploration Program at Lac Arsenault Gold Project

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SASKATOON, Saskatchewan, Sept. 10, 2020 (GLOBE NEWSWIRE) -- GESPEG RESOURCES LTD. (TSX-V:GCR) (the “Company” or “Gespeg”), following a successful financing and completing data compilation, Gespeg is pleased to announce the start of exploration work program (the “Program”) on its 100% owned Lac Arsenault gold project in the heart of the Gaspé Peninsula of Quebec. Lac Arsenault project has been enlarged and is now composed of 39 claims covering 2,261 ha and situated south of the Grand Pabos fault.

The Program includes a low-altitude high-resolution, helicopter-borne magnetic survey, soil sediment survey, trenching and detailed mapping of old and recent trenches.

The Lac Arsenault property consists of a series of gold-bearing and polymetallic veins (Au-As-Pb-Zn-Cu- (Ag)), oriented NNE, subvertical up to nearly a hundred meters in length and decimetric to metric thickness. The most important veins are the Baker vein, the Mersereau vein, the L4W vein and the Marleau vein (see table 1, 2) and (figure 1 : Map of claims of Lac Arsenault): https://www.globenewswire.com/NewsRoom/AttachmentNg/893b626d-71df-4ac1-9b58-3714fdc654cd

Table 1: Main gold veins of the Lac Arsenault property in channel sampling

Table 2: Main gold veins of the Lac Arsenault property in drilling

The mineralization was interpreted as mesothermal gold veins with mineralization contained in fault-fill veins placed in the grauwackes and siltstones of the Arsenault Formation, of middle Ordovician age.

The veins are associated with sinistral, fragile-ductile, NNE-trending shear zones, which correspond to secondary structures of the Grand Pabos fault, an important dextral strike-slip fault in the south of the peninsula, located about 500 meters to the north of the property.

The historical work carried out on the Lac Arsenault property leads to the following observations:

• The Baker, Mersereau, L4W and Marleau mineralized veins are spatially associated with brittle-ductile shear zones (The orientation of the veins is geometrically compatible with sinistral shear zones oriented between N20 and N40, as found in along the veins in most of the trenches),
• The mineralized veins are described as being shear veins or fault-fill veins associated more specifically with the N40 sinister shears, themselves satellite faults of the Grand Pabos fault.
• The vein segments oriented at an angle of 45 degrees with respect to the sinistral shear zones NNE seem more favorable for the deposition of metals,
• Some shear zones are clearly posterior to the veins and the hydrothermal event,
• Extension quartz veins with comb textures oriented parallel to the Baker vein are folded by one of the N40 sinister shear zones suggesting that some of the N40 shears post-date the mineralized veins.

The chronological relationships between the veins and the shear zones are important. It is therefore essential to undertake a structural study in order to properly characterize the deformation of the veins, the possible displacements, the orientation of the folds, in order to follow the mineralization in the future. As such, the Program was designed to include the following:

• Clean existing trenches
• Complete new trenches on areas that returned soil sample anomalies for As and Ag, targets for lateral extensions of known veins and targets for surface projections of veins cut from historic boreholes
• Complete detailed structural mapping of historic and recent trenches.
• A soil geochemical survey (horizon b) in order to define new targets anomalous in As and Ag
• A low-altitude helicopter-borne magnetic survey aimed at identifying and interpreting new structures similar to known mineralized zones.

About Gespeg Resources Inc.: Gespeg is an exploration company with a focus in strategic and energetic metals and underexplored regions “Gaspé, Chibougamau Québec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.

Bernard-Olivier Martel, P. Geo, the Company's Director of Exploration, is a qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release.

GESPEG RESOURCES LTD.

(signed) “Sylvain Laberge”

Sylvain Laberge
President and CEO
514.702.9841
slaberge@gespegcopper.com

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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Lac Arsenault Geology map

Map of claims of Lac Arsenault