Brunswick Exploration Inc. (“
BRW”
or the “
Company”) is pleased to announce results
from its 2020 soil sampling program at the Fundy Gold Project
(“
Project”) located in Southern New Brunswick
(Figure 1). These maiden results confirm the Company’s view that
the Fundy Shear Zone is a district scale, underexplored orogenic
gold-polymetallic fault system.
Soils Program Highlights
-
Anomalous gold values in soils occur across the entire
5-kilometer-long grid and remains open in all directions (see
Figure 2)
-
121 of 1,904 samples assayed over 10ppb gold and 25 of
1,904 samples assayed over 50ppb gold (up to 16,200 ppb
gold)
-
Numerous gold-bearing soils are coincident with magnetic
anomalies and Lidar lineaments
Mr. Killian Charles, President of BRW,
commented: “These initial results are very encouraging and support
our conviction that the Fundy Gold Project is highly prospective
for precious metal endowment. The area has seen no systematic
exploration in the past, and since staking the 53,000-hectare land
package in 2020, magnetic, resistivity, gravity and Lidar surveys
have been reprocessed in addition to compiling all available till,
soil and stream sediment data. Combined with initial prospecting,
BRW has identified numerous mineralized areas within multiple
mylonitic fault bounded corridors. We are very excited about this
project and plan to aggressively pursue our prospecting efforts
over the coming months along the soil anomalies and faulted
corridors.”
Soils Program Details
This program was a first step in assessing the
gold potential along the highly deformed Seven Mile Lake
Metamorphic Suite (SML) (See Figure 1). The B-Horizon soils grid
covers 500 hectares and is roughly 5 kilometers long by 1 kilometer
wide containing 1,904 samples spaced at 25m intervals along
100-metre spaced lines. The grid was geologically constrained to
the main SML deformation zone and broad gold anomalies occur
throughout the large metamorphic suite.
The SML mylonite continues beyond the boundaries
of the grid and extends for approximately 18 kilometers. It is
fault bounded along the southern contact by the district scale
Belleisle Fault. Importantly, quaternary geological mapping by the
government describes the till beneath the soil as a thin veneer
with an average thickness of less than 1 meter.
Other mineralized structures are thought to
exist outside of the main zone of deformation currently covered by
the soil sampling. To date, anomalous samples are positioned in
both magnetic highs and lows as well as Lidar lineaments. Follow-up
work is planned for Q2 and Q3 2021.
2021 Exploration Program
The company will continue to aggressively
prospect and conduct soil surveys along major deformation and fault
corridors including the Seven Mile Lake Metamorphic Suite and the
Pocologan Metamorphic Suite (PMS) in the spring (See Figure 1). The
PMS is 25 kilometers in strike and is considered to be a highly
prospective mylonitic deformation zone with very little history of
exploration. BRW will also conduct a property wide till survey at
roughly 500m spacing along and near all available roadways and bush
roads. Depending on the results of the soil programs, till survey
and follow up prospecting, the company expects to conduct a
trenching and/or drilling program in Q4 2021.
Fundy Gold Project
Overview
The Project is located 15 minutes West from the
city of Saint John and extends roughly 45 kilometres to the city of
Saint George. The area is located within the Fundy Shear Zone that
borders the Gander and Avalon Geological Terranes, the latter
having yielded approximately 6.0 Moz gold production in the
Carolina Slate Belt in the USA. The newly acquired, 53,000-hectare
land package has been poorly explored, most work being geological
in nature with limited surface prospecting.
The Project is considered highly prospective as
it includes several vein gold-polymetallic showings within the
broad Fundy Shear Zone. This major structure cuts across all of
southern New Brunswick and comprises multiple deep-rooted faults
that expose panels of sedimentary, volcanic and granitoid rocks, as
well as mylonites, juxtaposed during multiple orogenic events over
an extensive time frame.
Qualified Person
The scientific and technical information
contained in this press release has been reviewed and approved by
Mr. Charles Kodors, P. Geo, Manager New Brunswick, a licensed
professional geologist in New Brunswick.
Soil samples were analyzed for gold using
standard fire assay (30 gram) and Atomic Absorption (AA) finish
methods and 45 additional elements were analysed by Inductively
Coupled Plasma Emission Spectroscopy (ICP) at AGAT Laboratories in
Mississauga, Ontario. Field duplicates were taken approximately 1
meter from the original sample every 20 samples. In-house analysis
of standards and pulp duplicates were performed at the lab.
The 16,200 ppb sample didn’t have enough
material to conduct a gravimetrical finish; fire assay checks with
AA finish were conducted on the remaining material which returned
values of up to 1030 ppb. Some samples contained pulps that were
less than 30 grams due to the granitic and coarse-grained
composition of the B-Horizon soil.
About Brunswick Exploration
The Company, formerly Komet Resources Inc., is
part of the Osisko Group of companies and is a Montreal-based
mineral exploration venture listed on the TSX-V under symbol BRW.
The Company has sold its former African assets and is now focused
on exploration and development of gold and base metal properties in
Eastern Canada. Current projects include gold-polymetallic vein
systems in Southern New Brunswick (Fundy Gold Project), base metals
VMS in the Bathurst Camp in northern New Brunswick and in the
Chibougamau region of Quebec (Waconichi), and the new Lac Édouard
nickel-copper project in Québec.
Investor
Relations/information
Mr. Killian Charles, President
(kcharles@BRWexplo.com).
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release
Cautionary Statement on Forward-Looking
Information
This news release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation based on expectations, estimates and projections as at
the date of this news release. Forward-looking information involves
risks, uncertainties and other factors that could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals;
uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets; inflation;
fluctuations in commodity prices; delays in the development of
projects; the other risks involved in the mineral exploration and
development industry; and those risks set out in the Corporation’s
public documents filed on SEDAR at www.sedar.com. Although the
Corporation believes that the assumptions and factors used in
preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Corporation disclaims
any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
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is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news
release.
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