Mr. Vishal Gupta reports
CALIFORNIA GOLD ANNOUNCES FURTHER POSITIVE ASSAYS FROM QUEEN SPECIMEN ZONE - INTERSECTS 29.1 M OF 1.25 G/T AU, INCLUDING 4.0 M OF 4.12 G/T AU AT ITS FREMONT GOLD PROJECT
California Gold Mining Inc.has released the third set of assay results from the continuing resource drilling program at the Queen Specimen zone at its flagship Fremont project in Mariposa county, California. Assays for the first six holes from the current program at Queen Specimen were announced in separate press releases dated Feb. 8, 2018, and Feb. 21, 2018, respectively.
The results herein 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 metresof 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 grams per tonne 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: "These latest drill results once again confirm mineralization in the Queen Specimen zonethat is very similar to the Pine Tree-Josephine zone where our current NI 43-101-compliant mineral resource is hosted. Therefore, we are highly confident that, at the completion of our current drill campaign, we would be able to add significantly to our resource base and further demonstrate that the mineralization extends along the full four-kilometre strike of the shear zone on the Fremont property."
Highlights from the three holes at Queen Specimen discussed in this press release are displayed in the attached table.
Hole ID FromTo Length Au(m) (m)(m)(g/t)QS-DD-17-007 110.3 119.59.2 1.51And241.3 270.4 29.1 1.25Including242.3 246.34 4.12And including249.6 257.88.2 0.92And including262.7 269.66.8 1.51QS-DD-17-001 183 188.45.4 1.77Including184.1 186.22.1 3.42QS-DD-17-004 194.2 198.44.2 1.56Including194.2 1961.8 2.97Notes: Composite grades are length weighted to interval widths. Composite true widths for QS-DD-17-007, QS-DD-17-001 and QS-DD-17-004 are approximately 87 per cent, 82 per cent and 87 per centof 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 inches indiameter) diamond drill holes, totalling 10,500 metres to 12,000 metres of drilling, with an average drill hole length of 180 metres.
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 metasedimentary 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 herein, a zone of fault-emplaced 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-17-007
Drill hole QS-DD-17-007 was drilled at an azimuth of 235 degrees and an inclination of minus 55 degrees to a total depth of 287.0 metres. This hole intersected significant mineralization across four discrete zones downhole.
The uppermost unit was intersected from a depth of 110.3 metres to 119.5 metres with an average grade of 1.51 grams per tonne gold. This interval of mineralization is associated with structural melange, faulting, quartz veining and talc alteration.
The second unit was intersected from a depth of 242.3 metres to 246.3 metres with an average grade of 4.12 grams per tonne gold and is associated with sediment-mafic dike contact, brecciated quartz veining, sulphide mineralization and carbonate alteration.
The third unit was intersected from a depth of 249.6 metres to 257.8 metres with an average grade of 0.92 gram per tonne gold and is associated with sediment-hosted quartz veining, fuchsite alteration and multiple mafic dikes.
The fourth mineralized unit was intersected from a depth of 262.7 metres to 269.6 metres with an average grade of 1.51 grams per tonne gold associated with sericite-carbonate altered mafic dikes and metasedimentary rocks with associated disseminated sulphide mineralization and brecciated quartz veining.
QS-DD-17-001
Drill hole QS-DD-17-001 was drilled at an azimuth of 235 degrees and an inclination of minus 63 degrees to a total depth of 228.0 metres.
This hole intersected significant mineralization from a depth of 183.0 metres to 188.4 metres. The average grade over this interval is 1.77 grams per tonne gold and is associated with the contact between the structural melange and the metasedimentary unit containing quartz veining. The mineralized interval is sheared and contains disseminated/stringer-style sulphide mineralization, albite-carbonate-talc alteration and brecciated quartz veining.
QS-DD-17-004
Drill hole QS-DD-17-004 was drilled at an azimuth of 235 degrees and an inclination of minus 60 degrees to a total depth of 232.0 metres.
This hole intersected significant mineralization from a depth of 194.2 metres to 198.4 metres with an average grade of 1.56 grams per tonne gold. The mineralization occurs across the contact between metasedimentary rocks and structural melange. Gold mineralization is associated with graphitic faulting, disseminated sulphides, quartz veining/flooding and albite-carbonate-fuchsite-sericite-talc alteration.
Description of quality assurance and 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 historical reverse circulation 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-tonne fire (1ATF) analyses of the minus-150-mesh fraction are performed and arithmetically averaged. The minus-150-meshand 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.
California Gold Mining is focused on developing its 100-per-cent-owned Fremont project in Mariposa county, California. The project consists of an entirely private and patented land package totalling 3,351 acres of historically producing gold mines, with a state highway, PG&E electric substation and abundant water present on the property itself. The property lies within California's prolific Mother Lode gold belt, which has produced over 50 million ounces of gold historically. The company purchased the property in March, 2013.
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