Jayden Completes its First Exploratory Drill Program at Storm Lake, Confirms Property Scale Gold Footprint, Defining Multiple Drill Targets
(TheNewswire)
Vancouver, B.C. - TheNewswire - April 25, 2022; Jayden Resources Inc., ("Jayden" or "the Company") (TSXV:JDN) announces that the Company has received the results from its 21 hole/4,561 meter diamond drill program on its Storm Lake gold property (“Storm Lake”) located in the Frotet-Evans Greenstone Belt in north central Quebec.
Storm Lake consists of 45 contiguous claims plus 3 non-contiguous claims that total approximately 2,610 hectares. Previous exploration on the property by various other companies includes 49 drill holes totaling 9,600 meters that led to the discovery of 8 historical showings (7 Gold and 1 Silver). The focus of Jayden’s first exploration program was to confirm and expand upon previous exploration on the property as well as establish a broader geological understanding for future drill programs.
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Figure 1: Drillhole location and results in the Storm Lake main block
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Figure 2 : Drillhole locations and results in the west blocks
During this program, 21 drillholes designed to test 7 different widespread targets of interest (see Figures 1 & 2) were completed. From the 21 diamond drillholes, 19 holes did report samples over 0.1 ppm Au (see Table 1). Out of 2,947 core samples, 132 (4.5%) returned gold values over 0,1 g/t Au. This suggests that gold mineralization has occurred throughout the property with the potential to host a broader gold bearing deposit. Moreover, gold values were mostly obtained in quartz-carbonate-tourmaline-pyrite veins within structural features and also in sulfides-rich host formation as in hole SL-21-03 for example (see Figure 3), proving also the potential of the property to have several richer areas within this large and continuous corridor of anomalous gold that occur all over the property.
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Figure 3 : Core pictures of the best gold intercepts in hole SL-21-03; 0.508 g/t Au over 6.4 m hosted in a veined felsic lapilli tuff; B: 0.458 g/t Au over 6.4 m hosted in an iron formation.
The most promising results were found in 2 different areas of interest and are located approximately 6 km away from the other in a E-W direction along a major concordant magnetic lineament.
The Golden Showing (Target V) reported multiple gold intercepts up to 0.930 g/t Au over 7.05 m related to quartz-sulfides-tourmaline veins and hosted in felsic volcano-sedimentary units. The hydrothermal alteration observed are sericite-fuchsite suggesting an orogenic hydrothermal fluid. The occurrence of arsenopyrite and tourmaline found in gold bearing veins is in accordance with probable sedimentary source for gold and fluids. The mineralization tested is open in every direction.
The Rusty Water Showing (Target III) is located 5.7 km east of the Golden Showing, on a strong magnetic lineament of 1.5 km long that corresponds with an iron formation of approximately 6.4 m thick and returned 0.458 g/t Au over 6.4m in hole SL-21-03.
Both results are very encouraging considering the widespread nature of the drill campaign and the limited knowledge of the property. Prior to the 2021 program, only 43 holes were drilled on the main claim block totalling 8,977 m. Out of this historic drilling, a total of 354 core samples reported gold readings over 0.1 ppm.
|
Hole ID |
From |
To |
Au (g/t) |
Core length (m) |
Composite highlight |
|
SL-21-19 |
31,10 |
32,60 |
0,59 |
1,50 |
Including 1,245 g/t Au over 0,3 m |
|
SL-21-19 |
54,20 |
55,50 |
0,716 |
1,30 |
Including 0,969 g/t Au over 0,3 m |
|
SL-21-19 |
69,60 |
73,35 |
0,875 |
3,75 |
Including 2,53 g/t Au over 1,05 m |
|
SL-21-19 |
108,95 |
116,00 |
0,93 |
7,05 |
Including 3,92 g/t Au over 0,85 m |
|
SL-21-19 |
164,95 |
170,00 |
0,533 |
5,05 |
Including 2,59 g/t Au over 0,65 m |
|
SL-21-03 |
102,35 |
105,00 |
0,508 |
2,65 |
Including 1,985 g/t Au over 0,3 m |
|
SL-21-03 |
263,60 |
270,00 |
0,458 |
6,40 |
Including 1,175 g/t Au over 0,5 m |
|
SL-21-03 |
286,00 |
288,00 |
0,394 |
2,00 |
Including 0,601 g/t Au over 1 m. |
|
SL-21-01 |
184,50 |
185,10 |
0,701 |
0,60 |
|
|
SL-21-01 |
214,35 |
214,65 |
0,786 |
0,30 |
|
|
SL-21-01 |
277,70 |
279,95 |
0,28 |
2,25 |
|
|
SL-21-02 |
100,00 |
102,50 |
0,5 |
2,50 |
Including 0,8 g/t Au over 1 m |
|
SL-21-02 |
115,00 |
116,50 |
0,89 |
1,50 |
|
|
SL-21-05 |
18,80 |
19,80 |
0,179 |
1,00 |
|
|
SL-21-06 |
26,95 |
44,40 |
0,122 |
17,45 |
Including 0,42 g/t Au over 1,5 m |
|
SL-21-07 |
33,50 |
35,00 |
0,135 |
1,50 |
|
|
SL-21-07 |
79,10 |
80,00 |
0,103 |
0,90 |
|
|
SL-21-08 |
50,00 |
51,00 |
0,141 |
1,00 |
|
|
SL-21-09 |
76,00 |
76,80 |
0,162 |
0,80 |
|
|
SL-21-09 |
102,80 |
104,30 |
0,133 |
1,50 |
|
|
SL-21-09 |
130,00 |
131,50 |
0,19 |
1,50 |
|
|
SL-21-10 |
93,05 |
93,35 |
1,450 |
0,30 |
|
|
SL-21-12 |
123,15 |
129,30 |
0,482 |
6,15 |
Including 4,620 g/t Au over 0,45 m |
|
SL-21-13 |
25,10 |
36,00 |
0,17 |
10,90 |
Including 0,690 g/t Au over 0,7 m |
|
SL-21-13 |
200,05 |
200,55 |
0,737 |
0,50 |
|
|
SL-21-14 |
200,05 |
200,55 |
0,737 |
0,50 |
|
|
SL-21-14 |
221,15 |
221,5 |
0,318 |
0,35 |
|
|
SL-21-15 |
23,00 |
25,00 |
0,967 |
2,00 |
Including 1,440 g/t Au over 1 m |
|
SL-21-15 |
111,00 |
112,50 |
0,315 |
1,50 |
|
|
SL-21-15 |
132,50 |
134,50 |
0,473 |
2,00 |
|
|
SL-21-16 |
70,00 |
71,50 |
0,104 |
1,50 |
|
|
SL-21-16 |
79,85 |
80,15 |
0,508 |
0,30 |
|
|
SL-21-16 |
144,00 |
145,50 |
0,266 |
1,50 |
|
|
SL-21-18 |
76,35 |
78,35 |
0,904 |
2,00 |
Including 1,655 g/t Au over 1 m |
|
SL-21-18 |
100,80 |
101,80 |
0,591 |
1,00 |
|
|
SL-21-18 |
126,00 |
131,00 |
0,118 |
5.00 |
Including 0,259 g/t Au over 1 m |
|
SL-21-20 |
24,00 |
25,00 |
1,455 |
1,00 |
|
|
SL-21-20 |
88,00 |
88,75 |
0,506 |
0,75 |
|
|
SL-21-20 |
178,50 |
179,30 |
0,452 |
0,80 |
The Company feels that not only do all these results confirm the presence of gold mineralization throughout the property, but it also indicates the presence of structural and formational gold traps with significant grades. The presence of hydrothermal alteration in a felsic environment is also favorable to trigger gold remobilization.
The Company had planned up to a 6,000-meter program but cut that short due partly to inclement weather and shortened daylight hours which affected helicopter performance which significantly increased the cost per meter to drill. The savings incurred will be applied to the 2022 drill program which is currently being mapped out.
Jayden’s President & CEO David Eaton commented “the Company accomplished what it set out to do on its first program, which was to expand upon previous exploration and define targets for future drill programs. The Company is currently well financed to carry out the 2022 program and is anxious to get back out on the property as early as possible this year.”
Qualified Person
Technical information in this press release was reviewed by Hugues Guérin Tremblay, P.Geo., OGQ #1584 recognized as a Qualified Person under the guidelines of National Instrument 43-101. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
QA/QC
Jayden Resources implemented a strict QA/QC protocol in processing all core samples collected from the Storm Lake property. The protocol included the insertion and monitoring of appropriate reference materials, in this case certified gold standards and blanks, to validate the accuracy and precision of the assay results. All collected rock samples were put in sturdy plastic bags, tagged, and sealed in the field under the supervision of professional geologists. The sample bags were then put in rice pouches and kept securely in a field tent before being sent by truck for preparation and analysis to the ALS Minerals laboratories in Val d’Or, QC. All samples were analyzed using the ME-ICP41 package (Aqua regia with AA finish) for 35 elements. Samples having contents > 10 000 ppm Zn and > 100 ppm Ag were re-analyzed by OG-46 method (4 acids). Gold assays were determined by Fire Assay with an atomic absorption finish (method Au-AA24).
For further information about this news release or the Company visit our website at www.jaydenresources.com, email info@jaydenresources.com, or call Mike Thast at 778-331-2093.
On Behalf of the Board:
"David
Eaton"
President and CEO
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the Company's development of mineral exploration projects. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Jayden Resources Inc. believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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