Warrior Gold Provides Exploration Update, Diamond Drilling Program Planning Underway
Toronto, Ontario, October 10, 2019 – Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to report that the summer field program of prospecting and mapping has now been completed and planning of the Company’s follow-up diamond drilling program is underway.
The results from the prospecting program, designed to target four structural domains (the Goodfish A and Kirana Deformation Zones, the Kirkland Break Extension at Hargreaves and the “Violette” Lineament - see Map 1) confirm the presence of anomalous gold values on all four structures in addition to values up to 5.97 g/t Au associated with the Kirana DZ. A table of results can be found here.
A reconnaissance field mapping program was completed on September 30th where a total of 198 samples were collected with assay values expected by the end of October. The mapping program was designed to follow up areas of interest identified during the prospecting campaign. Property-wide structural and litho-geochemical samples were collected and new areas of exploration interest have been outlined. Information obtained from this work has enabled the Company to further define and refine its geologic model. The analytical results will provide both pathfinders for gold-vectoring and an array of elements for host rock and alteration discrimination mapping.
Warrior Gold plans to undertake a 3,500-metre diamond drilling program which is anticipated to start at the end of October 2019. Drilling will commence with a 2,000 m program of between eight and ten holes at Goodfish “A Zone”. This will focus on extending the high-grade mineralization identified in previous drilling campaigns (GK19-008 5.37 m of 9.04 g/t and GF90-04 12.6 m of 16.97 g/t) along strike and at depth as shown on Map 2. The remaining 1,000 m will be drilled at the Goodfish “C Zone” and on regional targets identified from the summer program.
“We are pleased with the results and geological data collected from the prospecting and mapping program as they confirm the presence of anomalous and high-grade gold values on important structures identified by the LiDAR, geophysics and historical mapping. This information combined with the detailed structural mapping and sampling contributes to our knowledge base, by adding valuable information to the geological understanding of the property. This will increase confidence for our Phase Two drilling program slated to commence at the end of October,” stated Danièle Spethmann, President and CEO.
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.
Map 1. Prospecting Results on Goodfish-Kirana with aeromagnetics.
Map 2. Areas that will be tested during the Phase Two drill program.
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange listed Company that 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 northeast trending Goodfish Deformation Zone; 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.
For additional information please contact:
Danièle Spethmann, P.Geo.
President & CEO
Warrior Gold Inc.
+1 647 344-3433
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, 2019 and the first quarter ended June 30, 2019, 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.