Mr. Alastair Still reports
GOLDMINING REPORTS INFILL CORE SAMPLING AT SAO JORGE OF 1.23 G/T OVER 89.0 METRES INCLUDING 3.62 G/T GOLD OVER 15.0 METRES
Goldmining Inc. has released initial infill assay results from the first two holes assayed as part of a continuing 14-hole infill core sampling program. The confirmatory assay program targets existing unsampled core intervals from previous drill programs at the 100-per-cent-owned Sao Jorge property, located alongside regional Highway BR-163 in the Tapajos region, Para state, Brazil.
Goldmining initiated a preliminary economic assessment (PEA) at Sao Jorge on completion of a mineral resource estimate (see June 1, 2021, news release). Initial PEA work has identified opportunities to better define and expand existing mineralization and included this infill drill core sampling program. The company intends to announce additional assay results from this program as it progresses.
Alastair Still, chief executive officer of Goldmining, commented: "This is an exciting period for Goldmining as we advance several projects, including Sao Jorge, towards a preliminary economic assessment and as encountered here, the geologic results highlight the unrealized potential in our extensive portfolio of assets within the Americas. The assay results released today on previously unsampled core has identified potential additional mineralized intervals not previously recognized or sampled and helps support the grade and continuity of known mineralization at Sao Jorge."
Mr. Still continued: "Drill core collected by previous operators at Sao Jorge had not been continuously sampled, and we identified intervals with weak to moderate hydrothermal alteration in areas of unsampled core from earlier drill programs. Previous sampling programs focused on strongly altered zones based on a visual determination with limited or intermittent sampling in broader zones characterized by varying degrees of alteration and mineralization. These unsampled intervals are the target of our infill sampling program and will help better define limits of mineralization in certain areas of the deposit."
Highlights:
Sampling has been completed on the initial 14 holes in phase 1.More than 1,000 samples have been collected and are in varying stages of being shipped and processed by the assay lab.Results reported are from available assays for the first two holes.Hole SJD-058-06 includes previously unsampled intervals: 1.23 grams per tonne gold over 89.0 m from 157.0 m to 246.0 m, including: 3.62 g/t gold over 14.0 m from 157.0 m to 171.0 m;1.41 g/t gold over 7.0 m from 179.0 m to 186.0 m;1.29 g/t gold over 5.0 m from 194.0 m to 199.0 m; 1.34 g/t gold over 10.0 m from 203.0 m to 213.0 m; 1.04 g/t gold over 25.0 m from 221.0 m to 246.0 m.Hole SJD-058-06 correlates well with twinned hole SJD-058A-06; both holes were collared within metres of each other: New results from SJD-058-06 include 1.23 g/t gold over 89.0 m from 157.0 m to 246.0 m. Previous results from SJD-058A-06 include 0.92 g/t gold over 92.1 m from 155.2 m to 247.3 m. Hole SJD-094-11 includes a previously unsampled interval: 0.68 g/t over 2.0 m from 58.0 m to 60.0 m.
Results released today include an interval of weak to moderate alteration and mineralization within a previously unsampled interval from 50.0 to 70.0 m in hole SJD-094-11 and extensive sections of SJD-058-06 from 140.0 to 259.0 m, drilled as a twinned hole next to SJD-058A-06 with the majority of the hole previously unsampled that contained extensive sections of strongly altered and mineralized materials that may be atypical of the remaining holes to be resampled. The costs for sample preparation and assaying for this program of work is being financed using cash on hand.
GOLD ASSAY RESULTS FROM PREVIOUSLY UNSAMPLED COREHole ID Interval fromInterval toCore length Gold grade(m)(m)(m)(g/t)SJD-058-06140.0145.05.0 0.49157.0246.0 89.0 1.23including 157.0171.0 14.0 3.62including 167.0171.04.0 9.51including 179.0186.07.0 1.41including 194.0199.05.0 1.29including 203.0246.0 43.0 0.93including 203.0213.0 10.0 1.34including 221.0246.0 25.0 1.04SJD-094-11 58.0 60.02.0 0.68GOLD ASSAY RESULTS FROM PREVIOUSLY SAMPLED CORE IN HOLESJD-058A-06, WHICH IS A TWIN HOLE TO SJD-058-06Hole IDInterval fromInterval toCore length Gold grade (m)(m)(m)(g/t)SJD-058A-06 155.20 247.3092.10 0.92including 174.81 193.8519.00 0.87including 196.85 200.85 4.00 0.59including 204.93 213.48 8.55 2.13including 219.83 240.3020.47 1.85All results are expressed as core length. There is insufficient work to confirm true thickness at this time.
Qualified person
Paulo Pereira, PGeo, president of Goldmining, has supervised the preparation of, and approved, the scientific and technical information contained herein. Mr. Pereira supervised the sampling program and has verified the exploration information contained herein. Mr. Pereira is a qualified persons as defined in National Instrument 43-101.
Data verification
For this program of drill core sampling, samples were taken from the NQ/HQ core by sawing the drill core in half, with one-half sent to SGS GEOSOL Laboratorios Ltda. and the other half retained for future reference. SGS GEOSOL is a certified commercial laboratory located in Vespasiano, Minas Gerais, Brazil.
Goldmining has implemented a stringent quality assurance and quality control (QA/QC) program for the sampling and analysis of drill core, which includes insertion of duplicates, mineralized standards and blank samples for each batch of 100 samples. The gold analyses were completed by fire assays with an atomic absorption finish on 50 grams of material. Repeats were carried out by fire assay.
About Goldmining Inc.
Goldmining is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, Goldmining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the United States, Brazil, Colombia and Peru.
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