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Gold/Mining/Energy : Newfoundland Gold Camp
NFLDF 0.0490-2.0%Oct 31 9:30 AM EST
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From: sense12/5/2021 11:43:02 PM
   of 254
 
November 23, 2021: Cartier Iron Provides Update on Diamond Drilling Program on the Low Sulphidation Gold-Silver Epithermal System at Big Easy, Newfoundland

Previous drilling in the Central Anomaly area (see press release June 8, 2021) was successful in confirming an extensive zone of silicification up to 200m wide with low sulphidation epithermal gold-silver mineralization. Hole BE-21-35, drilled in the recent winter 2021 program, returned 0.45 g/t Au and 9.7 g/t Ag over 34m, while Hole BE-21-36 intersected 0.62 g/t Au and 16.12 g/t Ag over 13m. Resistivity response from the CSAMT survey, as shown in Figure 1, is markedly higher at deeper levels in the Central Anomaly area suggesting that these earlier holes may have been drilled too high in the epithermal system. Current drilling is testing the resistivity highs at a deeper level in order to test for the potential core area of Au-Ag mineralization.

To date six (6) holes totaling 3,457m have been completed with lengths ranging for 425m to 623m long (BE-21-37 to BE-21-42) with one hole in progress (BE-21-43). Assays on all these holes are pending. Figure 1 is a block model of the 3D CSAMT resistivity model with locations of holes drilled to date (see Table 1) and planned holes (see Table 2). Drilling prior to the Christmas break will focus on completing the remaining drill holes planned to test the Central Anomaly. In winter 2022, the focus will shift to testing the resistivity highs in the Big Easy South area approximately 400m south of the original Big Easy showing and in the Central North area approximately 400 to 500m north of the Central Anomaly.



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