Element79 Gold Reports Results of 2021 Dale Property Phase I Exploration Program, Announces Annual General Meeting - Seite 2

Foto: Accesswire

Figure 2. Dale Property, Trench Location Map

Mineralization Data, Potential Economic Mineral Resource

4 out of 5 trenches were exposed on east-west striking shear zones that cut through massive unaltered granodiorite of the Dale stock. These shear zones are composed of gabbro dykes with enclaves of foliated metagranodiorite (rafted country rock). Mineralization and alteration are confined to these local shear structures and do not penetrate in the undeformed host metagranodiorite of the Dale stock. This leads to the conclusion that this was a late stage mineralizing event that exploited pre-existing structural weakness in the Dale stock. Though narrow (0.01-3m wide), these east-west trending mineralized deformation zones seem to be common across the property and have elevated gold values. An area with sufficient densities of these shears with more intense alteration could have the potential to form an economic mineral resource.

Foto: Accesswire

Figure 3. Simplified Regional Geology of the Dale Property surrounding area, showing nearby significant deposits and producing mines

Additional Exploration Program, Increased Land Package

The results of the Work Program warrant an extensive mapping, prospecting, and soil sampling program over the Dale Property to further expose the east-west mineralization/deformation zones that cut the Dale stock grandiorite to see if they can be exposed over a large area. Element79 Gold intends to pursue an Induced Polarization survey to identify areas of increased pyrite alteration within these shears, which appear to correlate with increased gold mineralization.

On January 12, 2022, Element79 Gold announced it had staked an additional 245.5 hectares directly adjacent to the Western and Northwestern borders of its existing claims, bringing the total land package to 1980.5 hectares (see news release dated January 12, 2022, available on SEDAR).

Annual General Meeting and Connection Details

Element79 Gold is also pleased to announce details of its upcoming Annual General Meeting ("AGM"). The AGM, which is scheduled to take place at the offices of Clark Wilson LLP at 900 - 885 West Georgia Street, Vancouver, BC on Wednesday, June 22, 2022 at 10:00 A.M. PDT, will additionally be available via webcast and conference call via the connection details below.