Hanstone Gold Provides Update on Proposed Golden Triangle Properties Drill Program for 2021

VANCOUVER, British Columbia, March 09, 2021 (GLOBE NEWSWIRE) -- Hanstone Gold Corp. (TSX.V: HANS, FSE: HGO) (“Hanstone” or the “Company”) is pleased to provide an update on its proposed 5,000 to 6,000 m, large diameter core drilling and exploration program on its Doc and Snip North Properties, both located in British Columbia’s prolific mining district known as the Golden Triangle.

The proposed Doc Property HQ core drilling and exploration program, scheduled for mobilization in the summer of 2021, is designed to follow-up and further evaluate the positive results of the Company’s 2020 drill program which consisted of 21 drill holes totalling approximately 2,700 m. Very encouraging results reported on November 12, 2020 included: 2.25 metres grading 6.18 g/t Au, with 47.78 g/t Ag; 0.80 metres grading 10.8 g/t Au; and 7.02 metres grading 2.27 g/t Au. Additional positive results announced on December 3, 2020 included 13.28 metres grading 12.01 g/t Au, that included an exceptional intercept of 1.28 metres grading 113.70 g/t Au.

The following table highlights a portion of the 2020 Doc Zone Gold Intersections:

Hanstone Gold is focused on a number of goals for the 2021 summer drill season. The primary focus will be on the Doc Property, which will include, but is not limited to, the following:

DOC PROPERTY:

• Delineation drilling on the DOC zone Q17 & Q22 veins following up high-grade intercepts down dip and along strike to increase confidence in the historical resource and move towards a NI 43-101 compliant resource. This will include follow up of 2020 high-grade drill results from DC-20-04, 05 and 06, including 12.01 g/t Au over 13.28 m in DC-20-06. Extensive historic work has been conducted on the Q17 and Q22 veins, however the holes drilled utilized small diameter BQ sized drill core that produced smaller, and less representative samples for analysis.
  
  
• The Q26 quartz vein has been identified in outcrop over approximately 125 meters and was drill tested for the first time in the summer of 2020. Drilling of this vein, which is open downdip and along strike, intersected 5.1 g/t Au over 1.97 m and 2.2 g/t Au over 6.0 m. This target remains one of the priority drill targets in 2021.
  
  
• During the 2020 summer program, interpretive results suggested that the Q17 vein may be offset to the north at its western extent. A test of this hypothesis is warranted to the north of drill hole DC-20-02 which intersected several zones of mineralization including 1.39 g/t over 2.40 m.
  
  
• On the Q19 area, diamond drilling in 2020 was able to confirm near surface Au in quartz veining. The surface sampling returned assays of 202 g/t Au with 1,735 g/t Ag and 32.1% Pb. This target is planned to be blasted and trenched to help define the structure, mineralization, extent and continuity of this prospective mineralized vein system.
  
  
• On the Quinn Eskay claim, information from the UAV magnetics survey is anticipated to be utilized in conjunction with the satellite imagery analysis and ground follow-up evaluations, to target a deep drill hole that is expected to assist in appraising the subsurface geology and evaluate the potential for a porphyry Cu-Au system. The recently completed high definition, low altitude UAV magnetic survey provides higher resolution for enhanced delineation of a potential deep hole drill target.
  
  
• Additional prospecting along with structural geologic mapping and a possible soil sampling program targeting high priority areas, in conjunction with the interpretation of magnetic and satellite imagery, are also being considered.
  
  
• A total of approximately 5,000 to 6,000 m of diamond drilling is planned over the course of the 2021 exploration season on the DOC Zone, Q26 and Quinn Eskay areas. This represents a 100% increase in drilling footage planned from last year’s program.
  

SNIP NORTH:

A prospecting and sampling program at Snip North is planned for the 2021 exploration season that will focus on existing showings (Chubby Creek, Bach, Verrett and Joy 1) as well as on other priority potential drill target areas highlighted by 2020 satellite imagery.

Mounting interest in the Golden Triangle in the vicinity of the Snip North Property by industry peers has also been increasing as exemplified by peer company exploration results from drill targets that lie within 7 – 9 km from the Snip North claim boundary:

• One mining company has publicly reported assays from their 2020 drill program that returned intersections of 17.15 g/t Au, 26.20 g/t Ag, and 1.18% Copper over 2.72 metres, and are evaluating the mounting evidence for a potential large-scale gold system.
• An additional gold exploration and development company exploring in the district has announced its goal to publish a National Instrument 43-101 compliant mineral resource estimate prior to the end of 2021, where both high-grade gold drill assay results were publicly reported, including 1,670.51 g/t Au over 1.4 metres as well as medium-grade, high-tonnage Au mineralization including 4.24 g/t Au over 52 m.

Ray Marks, President and CEO of Hanstone stated:

“Management is very excited about this upcoming 2021 drill program and is highly motivated to maximize its success. The results from last year’s drilling far exceeded our expectations and we don’t anticipate anything less for the 2021 drill program. With so much excitement and the new discoveries in British Columbia’s Golden Triangle, we are just beginning to understand the growth potential of these two new projects within this prolific gold district. We are all looking forward to providing our shareholders with an exciting and successful 2021 drilling and exploration program that that is designed to further define potential mineral resources and additional targets for exploration and future development.”

About Hanstone:

Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North Projects optimally located in the heart of the prolific mineralized area of British Columbia known as the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past-producing mines and several large deposits that are approaching potential development. The Company holds a 100% earn in option in the 1,704-hectare Doc Project and owns a 100% interest in the 3,336-hectare Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful track record in the discovery of gold deposits and in developing mineral exploration projects through discovery to production.

Ray Marks, President and Chief Executive Officer

For Further Information Contact:

Carrie Howes, Director of Communications+1-778-551-8488, carrie.howes@hanstonegold.com
Or visit the Company’s website at www.hanstonegold.com.