Signature Resources Completes Successful Prospecting Campaign

TORONTO, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV-SGU, OTCQB-SGGTF, FSE-3S3) (“Signature” or the “Company”) is pleased to announce that it has completed its two component field program with the crew it mobilized to its Lingman Lake gold property in northern Ontario in August.

The first component of this program was to undertake borehole north-seeking gyro surveys of 104 holes drilled in the late 1980’s. This information will be extremely useful in calculating a new, more accurate resource model and determining the location of new drill holes.

The second component of this program was to have a team of geologists and prospectors visit six pre-determined target areas as defined by a combination of geophysical interpretations of the airborne survey results, geological mapping, structural interpretation, and a detailed review of high resolution visual satellite imagery. The field crew was helicopter supported to efficiently examine outcrop areas and focus on evaluating and sampling any mineralization encountered in those target areas.

“We are very excited about this phase of work as we have identified new discoveries on surface in these target areas and have successfully taken 104 samples for analysis. We are very pleased about these recent accomplishments. Similar geophysical responses between the mine site geology and the newly targeted areas suggests planning further exploration on any new discovery areas. The results from this current prospecting work will help determine the continuity of the shear system and possible associated mineralization. Further prospecting, mapping, and sampling in future work programs will be planned for next summer season,” commented Walter Hanych, CEO.

Detailed information and results of this program will be reported in the near future as the program progresses.

While the team was mobilized, Signature also re-established our base camp in preparation for an upcoming winter drill program. We are pleased to announce that the camp is 80% ready and some final work will be completed in January 2021 prior to the arrival of the commencement of the drill program.

Qualified Persons

The scientific and technical content of this press release has been prepared, reviewed and approved by Bob Komarechka, P.Geo. who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects

About Signature
The Lingman Lake gold property consists of 622 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 12,148 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.