VANCOUVER, BC – October 28, 2020 – Gambier Gold Corp. (TSX-V: GGAU) (the “Company”) is pleased to announce it has recently completed an airborne LiDAR survey on both the Detour West and Hemlo West properties. In addition, the Company has started a review of historical airborne geophysical surveys on its Detour West property (“Detour West” or, the “Project”) in northern Ontario.
The Company recently completed acquisition of an airborne LiDAR survey which covered the entirety of the Detour West property and a portion of the Hemlo West property and was flown by Pioneer Exploration Consultants Ltd. in the second week of October, 2020. Approximately 189 square kilometers were covered by the survey on the Detour West project, and 18.2 square kilometers on the Hemlo West project. The data was collected at a specified resolution of 10 points per square metre, which included high resolution orthoimagery collected at 10 cm resolution. The LiDAR and orthoimagery will be used by the Company to plan future groundbased exploration and geophysical programs, evaluate access, locating rock outcrops and identifying previous exploration workings on the property.
Historical Airborne Geophysics Compilation
In addition, recently acquired historical airborne geophysical datasets are being used to target further exploration efforts at Detour West. Campbell and Walker Geophysics Ltd. has been engaged to review and reprocess the historical geophysical data that the Company has recently acquired access to with results expected before year end.
Open-file maps arising from a closely-spaced historical airborne VTEM survey completed in 2016 by Tri Origin Exploration cover the eastern half of Detour West and have identified several conductors that have yet to be fully examined and ground truthed. Also being analyzed by the Company is a historical GeoTEM survey flown over the western half of the property in 1996 by BHP that was included in an assessment report by Eastmain Resources. This digital data is currently being recovered from the airborne geophysical contractor’s archives and, based upon the analog maps already assessed, should help provide discrete conductor targets and assist with the interpretation of the expected extensions of major fault/shear zones on which to focus further groundbased investigation methods like till sampling and diamond drilling.
Detour West Property
The Detour West Property is 18,929 hectares in size (approximately 32 km long and 6 km wide) and located approximately 300 km northeast of Timmins and 185 km northeast of Cochrane by road in the northwestern part of the Abitibi Greenstone Belt within the southern part of the Superior Province in Ontario.
The Detour West Property is located approximately 20 km west of the open pit Detour Lake Gold Mine acquired by Kirkland Lake Gold Inc. in January 2020 and directly adjoins the holdings of Kirkland Lake Gold. Gold mineralization at the Detour Lake Gold Mine is characteristic of greenstone hosted orogenic lode gold style deposits. The Detour Lake Gold Mine produced 601,566 ounces of gold in 2019 and has proven and probable
mineral reserves of 447,450 Kt at an average grade of 0.97 g/t Au for 14,847,000 contained gold ounces as of December 31, 2019.
(source: Kirkland Lake Gold Inc. website https://www.kl.gold/our-business/resources-and-reserves/default.aspx)
Please refer to cautionary statements shown below regarding Adjacent Properties disclosure.
The Detour Lake area is comprised of thick sequences of mafic to ultramafic volcanic rocks referred to as the Deloro Assemblage (DA) in structural contact to the south with the younger sediments of Caopatina Assemblage (CA). This contact between the DA and CA is characterized by a regional scale thrust zone referred to as the Sunday Lake Deformation Zone (SLDZ). The structures of the SLDZ are spatially related to most of the gold mineralization observed in the Detour Lake area. Exploration work on the Detour West Property by previous operators appears to indicate that the property may be underlain by previously underexplored and unrecognized extensions of the rock units contained within the Sunday Lake, Massicotte and Lower Detour deformation zones that host the adjacent Detour Lake gold deposit.
In 2016, Tri Origin Exploration flew a helicopter-borne geophysical survey over the eastern part of the Detour West Property. Magnetic results from this geophysical survey confirmed Tri Origin’s initial interpretations of the
presence of the western extension of rock units and fault structures hosting the nearby Detour Lake Gold Mine. These responses flank the northern and southern boundaries of a west-northwest trending magnetic low interpreted to represent the westward extension of the Caopatina Assemblage, which is also present within the Detour Lake and Lower Detour gold deposits.
The Company is in the process of assembling a technical team with extensive experience working in the Detour Lake greenstone belt including the Detour West Property.
The Hemlo South and Hemlo West projects are located in the Archean Schreiber-Hemlo greenstone belt, which is host to the Hemlo gold deposit that has produced over 21 million ounces of gold since its discovery in the early 1980’s. Production at Hemlo continues to this day through operations at the Williams mine, an underground operation owned and operated by Barrick Gold Corp.
The Hemlo South project encompasses an area of approximately 1,236 hectares, and directly adjoins Barrick’s Hemlo property, with the Williams mine site located approximately 7 km to the northeast of Hemlo South. The Hemlo West property encompasses an area of approximately 2,661 hectares, and directly adjoins Barrick’s Hemlo gold mine property, with the mine located approximately 14 kilometres to the east of the Property’s eastern boundary.
In 2007, previous operators of the Hemlo South project completed a high resolution AeroTEM survey, which defined a 4 km trend of discrete magnetic structures, coinciding with government mapping of mafic, intermediate and felsic rocks.
Please refer to cautionary statements shown below regarding Adjacent Properties disclosure.
Mr. Michael Schuss, CEO, Gambier Gold stated “The LiDAR surveys recently flown at Detour West and Hemlo West, in addition to the review of the recently acquired GeoTEM dataset will lay a strong foundation to plan our future exploration efforts at both projects. Several preliminary geophysical targets have already been identified at Detour West that warrant further investigation.”
Cautionary Statements and Data Verification
This news release contains scientific and technical information with respect to adjacent or similar mineral properties in the Detour Lake and Hemlo regions, which the Company has no interest in or rights to explore. Readers are cautioned that information regarding mineral resources and reserves and gold mineralization on adjacent or similar properties is not necessarily indicative of the presence of gold mineralization on the Company’s Detour West, and Hemlo South and Hemlo West properties.
A Qualified Person has verified the scientific and technical data disclosed in this news release by reviewing historical information and disclosed data on the Detour West Property and Hemlo Properties from the public records (i.e. geological papers and mineral assessment reports) and the acquired data from the service providers. Production figures and mineral reserves for the Detour Lake Gold Mine disclosed in this news release were verified by reviewing continuous disclosure documents filed on SEDAR by Detour Gold Corp. (up to January 2020) and Kirkland Lake Gold Inc. (January 2020 to current) and other public disclosure documents. Production figures for the Hemlo Mine disclosed in this news release were cited directly from disclosure on the company website.
Qualified Person Statement
The scientific and technical information contained in this news release was prepared and approved by Michael Power, M.Sc., P.Geo., Senior Project Geologist at Mercator Geological Services Ltd. and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101).
ON BEHALF OF THE BOARD
Michael E. Schuss
President & CEO
Forward-Looking Statement (Safe Harbor Statement): This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the Company’s exploration plans. Although the Company 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 the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.
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