Warrior Gold Initiates Goodfish-Kirana Summer Prospecting Program
TORONTO, June 25, 2019 /CNW/ - Warrior Gold Inc. ("Warrior Gold" or the "Company") (TSX-V - WAR) is pleased to report its summer prospecting program is now underway. "These exploration activities build on both the geological information obtained from the Company's recently completed drill program and follow up work on previous promising exploration activity," reported Tom Neelands, the Company's Chief Geologist. This current program has been designed to specifically test four promising targets described in more detail below.
Field work will focus primarily on four potential structures as shown on Map 1.
a) The Easterly Extension of the Goodfish 'A' Zone. (The 'A' Zone is divided into the East and West Zones by the NS-trending Airport Road). During this past winter, the West Zone extension was successfully drilled with positive results (see our June 6, 2019 news release). The LiDAR survey indicates extensive historical pitting/trenching in the East Zone.
b) The Kirana Deformation Zone ("Kirana DZ") which was extended by another 1,000 m to the west south-west with the addition of the Deloye Patents. Prospecting around the areas of the Deloye Shafts #1 and #2 will complement the mechanical trenching that was completed in the Fall of 2018.
c) The Easterly Extension of the Kirkland Lake Break ("KLB") which crosses the south-east corner of the property. This includes the nearby Ed Hargreaves shafts and veins. Government mapping and previous drilling indicate that both the KLB and Ed Hargreaves workings dip north onto Warrior Gold's property.
d) A strong four km-long east-west trending aeromagnetic lineament was identified by the detailed (50 m line-spacing) aeromagnetic survey flown in the spring of 2018 by Warrior Gold. The historical Violette Au-Mo shaft is the only exploration on record. The "Violette" Lineament has a geophysical signature similar to the Kirana DZ.
Danièle Spethmann, Warrior Gold CEO emphasized, "We are really pleased by our recent drill results and the initiation of this 'boots on the ground' program. As one of the most effective exploration techniques, it will continue to add valuable data to our geological understanding and drill hole targeting of this large and very promising land package. We believe the current rising interest in global gold markets will begin to reflect positively on promising juniors - particularly those in high quality gold producing camps that are located in secure jurisdictions."
The technical information contained in this news release has been approved by Tom Neelands, P.Geo., the Chief Geologist for Warrior Gold, a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Warrior Gold Inc.
Warrior Gold, a TSX Venture Exchange listed Company, owns the Goodfish-Kirana Property located five km from the Town of Kirkland Lake, Ontario. The Property is located in the historic Kirkland Lake Gold Camp which is situated in the prolific Abitibi Greenstone Belt, recognized as one of the world's highest grade greenstone belts with over 200 million ounces of gold produced to date.
The Goodfish-Kirana Property is 11.5 km long by roughly three km wide (34 km2) and contains three major structural trends: the east-west trending Kirana Deformation Zone; the north north-east trending Goodfish 'B-C' Zones; and the Victoria Creek Deformation Zone on the recently acquired Sutton claims on the northeast side of the property. The Property contains numerous historical gold showings, as well as 18 historical pits and shafts.
Neither the 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.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company's Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2018 and the third quarter ended December 31, 2018, which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This press release does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this press release nor anything contained in it shall form the basis of any contract or commitment. In particular, this press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.
SOURCE Warrior Gold Inc.
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