Mr. Vishal Gupta reports
CALIFORNIA GOLD ANNOUNCES CONTINUED POSITIVE ASSAYS FROM RESOURCE DRILLING AT QUEEN SPECIMEN ZONE - INTERSECTS 28.4 M OF 1.22 G/T AU, INCLUDING 6.3 M OF 2.66 G/T AU AT ITS FREMONT GOLD PROJECT
California Gold Mining Inc. has released the second set of assay results from the recently commenced resource drilling program at the Queen Specimen zone at its flagship Fremont project in Mariposa county, California. Assays for the first three holes from the current program at Queen Specimen were announced in a press release dated Feb. 8, 2018.
Today's results advance the company's main objective of generating a second mineral resource on the property covering the newly identified Queen Specimen mineralized zone. This zone is located in the northwest portion of the property and constitutes roughly 750 metres of strike length, out of the total four-kilometre strike of the Mother Lode shear zone on the property.
The company's current National Instrument 43-101 open-pit-constrained mineral resource of 515,000 ounces grading 1.71 grams per tonne gold in the indicated category and an additional 364,000 ounces grading 1.44 g/t gold in the inferred category only encompasses the Pine Tree-Josephine zone within the property (the NI 43-101 technical report is available on SEDAR and at the company's website). The Pine Tree-Josephine zone hosts two historical underground gold mines and covers a strike length of roughly one kilometre, out of a total strike of four kilometres over which the shear zone is interpreted to extend on the property.
Vishal Gupta, California Gold's president and chief executive officer, said: "We continue to see results that support our long-term plans for the Fremont project. The consistency with which we are intersecting mineralization at Queen Specimen demonstrates the robustness of the project. Not only do today's results correlate extremely well with previously released assays from Queen Specimen, but to date the overall style and tenor of mineralization at Queen Specimen match that of the Pine Tree-Josephine zone in a very consistent way. These continued successful results from Queen Specimen give us a lot of confidence that the eventual near-surface mineral resource at this new zone will provide a substantial addition to the current NI 43-101-compliant mineral resource at Pine Tree-Josephine. Along with the Pine Tree-Josephine and Queen Specimen deposits, the Fremont project hosts numerous other very promising mineralized targets that will be the company's focus following the completion of the second mineral resource."
Highlights from today's three holes at Queen Specimen are displayed in the table.
FREMONT DRILL RESULTSHoleFrom (m)To (m)Length (m)Au (g/t)QS-DD-18-010115.2 143.628.41.22including 115.2 121.5 6.32.66and including 132.0 143.611.61.37including 137.5 142.0 4.62.39QS-DD-18-006 66.871.0 4.20.88and 157.6 167.910.40.94including 157.6 162.5 4.91.11QS-DD-17-002218.5 227.7 9.21.14including 220.1 224.6 4.61.92Composite grades are length weighted to interval width. Composite true widths for QS-DD-18-010, 006 and 002 are approximately 77 per cent, 87 per cent and 82 per cent of the reported intervals, respectively.
Discussion of the Queen Specimen drill holes
The three holes discussed in this press release were drilled as part of the resource drilling campaign at the Queen Specimen mineralized zone that commenced on Dec. 2, 2017. The program is estimated to consist of 60 to 65 HQ-sized (2.5-inch diameter) diamond drill holes, totalling 10,500 metres to 12,000 metres of drilling, with an average drill hole length of 180 m.
The same lithological sequence was observed in these drill holes as with previously analyzed drill holes in the Queen Specimen deposit, and in the Pine Tree-Josephine deposit, including a sequence of metavolcanic mafic rocks overlying a melange of serpentinized ultramafic rocks. These are separated from the underlying meta-sedimentary rocks of the Mariposa formation by a zone of highly sheared and serpentinized phyllonite that is characteristic of the shear zone.
In addition to the sequence stated above, a zone of fault-emplaced Mariposa formation sediments is apparent within the hangingwall mafic metavolcanic rocks. This stratigraphic repetition may be due to thrust faulting or folding associated with dextral movement along the Shear zone that has been observed in airborne magnetic data acquired for the Fremont project in 2016.
QS-DD-18-010
Drill hole QS-DD-18-010 was drilled at an azimuth of 235 degrees and an inclination of minus 45 degrees to a total depth of 161.0 m. This drill hole intersected significant gold mineralization in two distinct zones.
The uppermost zone was intersected from 115.2 m to 121.5 mdepth with an average grade of 2.66 grams per tonne gold. Gold mineralization in this interval is hosted in metasedimentary rocks and associated with shearing, faulting, quartz-ankerite veining and stockwork, as well as fine sulphide mineralization.
The second significant occurrence of gold mineralization is intersected from 132.0 m to 143.6 m depth with an average grade of 1.37 g/t Au. Gold mineralization in this interval is associated with a carbonate-altered mafic dike, shearing, faulting, as well as disseminated, blebby and stringer-style sulphide mineralization.
QS-DD-17-006
Drill hole QS-DD-17-006 was drilled at an azimuth of 235 degrees and an inclination of minus 48 degrees to a total depth of 202.0 m. This drill hole also intersected significant mineralization in two separate zones.
The upper mineralized interval is between 66.8 m and 71.0 m depth with an average grade of 0.88 g/t Au. The mineralization within the interval is associated with structural melange, carbonate and talc alteration, and faulting.
The lower mineralized interval intersected mineralization from 157.6 m to 167.9 m depth with an average grade of 0.94 g/t Au. Gold mineralization within this interval is associated with lithological contacts between serpentinite and sediment, quartz veining, ductile deformation and shearing, fracturing/faulting, mafic dikes, and blebby/disseminated sulphide mineralization. Most significant gold mineralization in the interval is contained within quartz veins hosted in the sedimentary unit from 157.6 m to 162.5 m depth with an average grade of 1.11 g/t Au.
QS-DD-17-002
Drill hole QS-DD-17-002 was drilled at an azimuth of 235 degrees and an inclination of minus 74 degrees to a total depth of 259.0 m.
This hole intersected significant mineralization between 218.5 m and 227.7 m depth. The average grade over this interval is 1.14 g/t Au and is associated with brecciated quartz-ankerite veinlets, disseminated sulphide mineralization, and the contact with serpentinite and metasedimentary units.
Description of quality assurance/quality control (QA/QC) procedures
The laboratory being used for assay analyses is American Assay Laboratories Inc. (AAL) based in Sparks, Nev. (ISO/IEC 17025:2005 certified).
Prior to transportation of core samples to AAL, all core processing is conducted at the project site in an enclosed 6,000-square-foot office facility. All diamond drill core is logged, photographed and split using core saws. Core from entire holes is being sampled every five feet to compare with the historic RC hole assay intervals. Additionally, subsamples are being collected within the planned five-foot intervals where important geological or mineralization contacts occur to allow better discrimination within the geological model. The minimum sample interval is 1.5 feet.
One-half of the split core is transported to AAL by company employees for prep and analysis. The other half of the core is stored at the company core storage facility for future inspection and assay verification. All gold analyses of strongly mineralized samples utilize the screened metallics fire (SMF) assay method with a gravimetric finish. At the laboratory, the entire sample is crushed to 90 per cent minus 10 mesh. A rotary splitter is used to obtain a 500-gram sample for pulverizing. The screened metallics are collected as the plus fraction from a 150 mesh screen at the lab. The plus 150 mesh fraction is fire assayed in its entirety. Two separate one-assay-ton fire (1ATF) analyses of the minus 150 mesh fraction are performed and arithmetically averaged. The minus and plus 150 mesh results are then combined for a total screened metallics fire assay.
A full QA/QC program, involving insertion of appropriate blanks and standards, is being employed with acceptable results.
Mr. Gupta has reviewed and approved this press release. Mr. Gupta is a PGeo registered with the Association of Professional Geoscientists of Ontario (APGO) and a qualified person as defined under National Instrument 43-101. The exploration program at Fremont is being conducted under Mr. Gupta's supervision.
About California Gold Mining Inc.
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