Best Intercept in the Dayton Gold Zone in
Deloro
Township
6.35 m @
3.29 g/t Gold (estimated true width 4.93
m)
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION
DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO
THE UNITED STATES./
- CTEC interprets that the Historical Dayton gold zone has a
parallel quartz breccia system in sediments
- Drill hole D-19-06 in the Dayton Gold Zone in Deloro Township intersected 3.29 g/t Au over a
6.35 m core width (estimated true
width 4.93 m) from 112.3 m depth in quartz sulphide and massive
sulfide veins
- CTEC's drill hole on the Four
Corners property intersected a 30
m wide band of sediments, which is often a marker horizon
above the VMS polymetallic vein style mineralization in the Kam
Kotia area mines
TORONTO, Sept. 26, 2019 /CNW/ - Central Timmins
Exploration Corp. ("CTEC" or the "Company") (TSXV: CTEC)
is pleased to present the results from its 2019 summer
exploration program. Diamond drilling totaling 1,600 meters
commenced July 9th,
successfully advancing several gold and base metal targets in
Timmins, Ontario.
CTEC's 100%-owned land position (14,035 ha or 140
km2) in the Timmins Camp in Northern Ontario has been assembled over the
past 15 years and grouped into distinct township referenced
projects within the city limits of Timmins. CTEC is undertaking brownfields
gold and VMS exploration in the Timmins Camp both to the north and
south of the 10 km wide corridor encompassing the Porcupine Destor
Fault Zone (PDFZ), the preferential exploration focus of the past
100 years.
The Company's Deloro–Ogden Township brownfield exploration is
focused on two gold systems south of the PDFZ, the historic
Dayton Gold Zone horizon and the past-producing Faymar Gold
Mine. An additional and substantial gold project on the north side
of the PDFZ in Mountjoy Township
is targeting the potential continuation of the Hollinger-McIntyre
gold system westerly into Mountjoy
Township. CTEC's base metal-gold project is in the
Kamiskotia VMS camp and centred on a series of narrow but
high-grade gold-silver-zinc veins located near the common corner of
four Townships (Godfrey, Jamieson,
Robb, and Turnbull) within the
city limits of Timmins.
The attached map shows the CTEC project and recently-completed
drill holes relative to the giant gold mines of the Timmins Camp
and several of the historic VMS mines in the Kamiskotia area.
The summer drill program advanced all three CTEC
projects:
Four Corners Project
Drill hole FC-19-01 was
collared to test the potential lateral extensions of NW-SE to N-S
trending gold mineralization intersected by Claim Post Resources
Inc. (CPS) in 2007 to 2010 drilling. This drilling
intersected multiple gold and zinc base metal bearing zones with
widths varying from 0.18 m (estimated
true width 0.14 m) to 1.63 m (estimated true width 1.22 m) at grades ranging from 1.44 g/t Au to
19.97 g/t Au and averaging 3.00 g/t over a 3.00 m core width (estimated true width
2.25 m).
More specifically, the hole targeted a magnetic low/coincident
MMI target, 300 m east of a vein set
where only gold values had been intersected in sediments. The CTEC
hole intersected 30 m of intermixed
sediments and porphyries. Identifying this horizon has
substantially increased the VMS potential of the Four Corners area. D.R. Pyke and R.S. Middleton published a paper in the
March 1971 CIM Bulletin, which
describes a sedimentary unit up to 30
m thick that overlies the rhyolitic unit hosting the Kam
Kotia, Canadian Jamieson, and Jameland VMS orebodies. CTEC is
currently undertaking a downhole IP survey to target potential
massive sulphide lenses underlying the gold-rich polymetallic
veins.
South of the PDFZ
CTEC completed two oriented core
diamond drill holes on the Dayton Gold Zone in Deloro Township first drill tested in the
1930s with 24 diamond drill holes. CPS added an additional 20 holes
in 2010 and 2011. The zone has traditionally been viewed as a
single narrow iron formation horizon with variable gold
mineralization. Computer modeling of all available drill hole data
now indicates a potential iron formation fold nose targeted by CTEC
holes D-6-19 and D-7-19 near 2010 CPS drill hole CPDP-10-01.
Intersections are as follows:
- CTEC D-19-06: 6.35 m
(estimated true width 4.93 m) @ 3.29
g/t Au from 112.3 m depth in quartz
sulphide and massive sulphide (MS) veins
- CTEC D-19-07: 3.80 m (estimated
true width 3.44 m) @ 1.51 g/t Au from
86.5 m depth in quartz sulphide and
MS veins
- CPDP 10-01: 14.07 m (estimated
true width 10.61 m) @ 1.69 g/t Au
from 117.1 m depth in quartz sulphide
and MS veins
All three holes have intersections of similar quartz sulphide
and massive sulphide veins. A down the hole IP survey plus
diamond drilling indicate that the immediate nose fold area of the
Dayton Zone is at least 100 m long,
extends to a depth of at least 150 m
(the extent of current drilling) and plunges to the southeast.
Relogging of the CPS holes is in progress.
The 2019 drilling has identified a second gold bearing quartz
breccia horizon located about 15 m
horizontally from the iron formation. Secondly, the quartz
breccia is located within a sedimentary horizon that has previously
been misidentified as an andesite-tuff horizon. Thirdly, the dip of
the breccia zones can be interpreted as flat lying or steep dipping
parallel to the iron formation; more drilling is required to
confirm the orientation and extent of the breccia zones.
North of the PDFZ
The Mountjoy-Godfrey project is designed to test the theory
that the Hollinger-McIntyre gold system did not stop at the
Mountjoy-Tisdale Township boundary but extends through Mountjoy Township to the west.
Three holes drilled during CTEC's winter drill program had
confirmed wide intersections of low-grade gold mineralization in
the Caron porphyry on the west boundary of Mountjoy. The best assay from the
program was 2.46 g/t Au over 0.70 m
hosted in porphyry in hole G1-19-02 (see CTEC press release dated
June 6, 2019). This hole also had 11
additional narrow gold intersections that assayed 100 to 300ppb Au
in altered and quartz veined porphyry.
The summer drill program targeted three anomalies, two potential
porphyry targets, one 600 m and the
second 1,200 m southeast of the Caron
porphyry. The third target was a strong IP anomaly
500 m directly to the east of the
Caron porphyry. Drilling of these targets proved to be very
difficult due to deep overburden.
The first planned porphyry hole was lost at a 60 m depth at the contact with a gravel deposit.
The patented surface rights owner hosting the second porphyry
target wanted the hole to be drilled in a winter program. The
third was successfully drilled through 50
m of fine sand and 10 m of
gravel and boulders. The IP anomaly proved to be a graphitic
schist.
Charles Gryba, President and CEO
stated, "CTEC's summer drill program successfully confirmed that
the narrow Four Corners high-grade
base metal and gold veins are in the right location relative to the
rhyolite horizon that hosts the VMS deposits in the Kam Kotia area.
Of particular interest is that the CPS drilling in 2007 intersected
gold mineralization in the sedimentary horizon that caps the
rhyolite-VMS horizon. There may be a gold system in addition to the
VMS system.
Exploration drilling south of the PDFZ was very successful in
expanding the potential of the Dayton Gold Horizon. The two holes
drilled into the zone confirmed a second gold horizon in a
newly recognized and prospective sedimentary unit. The new gold
mineralization may be parallel to the iron formation and/or flatter
dipping. Recent government mapping plus a Deep Seismic survey
following Pine Street south of Timmins both indicate that the Dayton Gold
Zone curves through a 10 km long east-west anticline of the south
side of the PDFZ. The quartz breccia zones may relate to
fractured areas along the hinge line of the large anticline.
More drilling is required.
In addition to the summer drilling, a detailed geophysical
compilation and interpretation of a historic Mountjoy airborne magnetic survey plus other
historical geophysical surveys has been undertaken. The
results are now being analyzed by CTEC geologists in the hopes of
advancing the theory that Hollinger-McIntyre stratigraphy extends
into and possibly across Mountjoy
Township and further drilling may be proposed. The
company is also carrying out limited IP surveys to confirm
Mountjoy gold targets."
The Company remains well financed and will announce details of
the next phase of its exploration program once all current
information is compiled and reviewed.
CTEC has a comprehensive, industry standard Quality
Assurance/Quality Control program in place covering all its drill
core assaying being done at Activation Laboratories Ltd. in
Ancaster, Ontario. The program is
supervised by an independent Qualified Person.
Mr. John Sullivan, B.Sc., P. Geo,
independent director of CTEC, has acted as the Qualified Person, as
defined in NI 43-101, with respect to the disclosure of the
scientific and technical information relating to exploration
results and future plans disclosed in this press release.
About Central Timmins Exploration Corp.
CTEC is an early-stage Canadian junior exploration company with
property exclusively within the city limits of Timmins in the Porcupine Mining District in
the northeastern region of Ontario. The Company's assets are prospective
for gold as well as a suite of base metals. See the company website
at www.centraltimmins.com.
Forward Looking Information
This press release contains "forward-looking information" within
the meaning of applicable securities laws that is intended to be
covered by the safe harbours created by those laws.
"Forward-looking information" includes statements that use
forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative
thereof or other variations thereof or comparable terminology. Such
forward-looking information includes, without limitation, the
Corporation's expectations, strategies and plans for the Timmins
Properties, including the Corporation's planned exploration
activities and the intended uses of the net proceeds of the
IPO.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made. Furthermore,
such forward-looking information involves a variety of known and
unknown risks, uncertainties and other factors which may cause the
actual plans, intentions, activities, results, performance or
achievements of the Corporation to be materially different from any
future plans, intentions, activities, results, performance or
achievements expressed or implied by such forward-looking
information. See "Risk Factors" in the Corporation's final
prospectus dated October 4, 2018
filed on SEDAR at www.sedar.com for a discussion of these
risks.
The Corporation cautions that there can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, investors should not
place undue reliance on forward-looking information.
Except as required by law, the Corporation does not assume any
obligation to release publicly any revisions to forward-looking
information contained in this press release to reflect events or
circumstances after the date hereof.
Neither the Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Central Timmins Exploration Corp