Cross River Confirms High Grade Gold at the Maskootch Project; Assays Select Grab Samples up to 32 g/t Au
Cross River Confirms High Grade Gold at the
Maskootch Project; Assays Select Grab
Samples up to 32 g/t Au
Vancouver, British Columbia--(Newsfile Corp. - November 4, 2021) -
Cross River Ventures
Corp.
(CSE: CRVC) (OTCQB: CSRVF) (FSE: C6R)
(the "
Company
") is pleased to update
shareholders on the results of recently completed exploration work at its 1,480-ha Maskootch project,
situated along the southeastern margin of Archean Uchi Greenstone Belt, NW Ontario, Canada.
A team of four personnel contracted by Bayside Geoscience of Thunder Bay, Ontario, recently
completed an 8-day field program at Maskootch.
The team conducted prospecting and mapping around
areas of historic gold ("Au") mineralization at the Wenesaga Road prospect on the western side of the
project and the Maskootch copper showing on the eastern side of the project (Figure 1).
Wenesaga Road Showing
The team collected three grab samples from semi-massive pyrite-chalcopyrite mineralization at the
historic Wenesaga Road showing. Two locally derived angular boulders, samples D579821 and
D579823, returned values of 32.0 grams-per-tonne ("g/t") Au with 0.79% Copper and 22.5g/t Au
respectively.
Sample D579822 from the mineralized outcrop returned 8.29 g/t Au and 0.31% copper.
Mineralization at
the Wenesaga Road showing is confined to a 30 cm wide zone of sulfide mineralization that appears to
be strongly lineated, plunging 240 degrees at an inclination of 62 degrees.
There does not appear to be any significant strike extent to the showing, though it may be largely
removed in the road cut. Follow up work on this zone will focus on the down-plunge extent of the
mineralization.
Maskootch Copper Showing
Mapping and sampling at the Maskootch copper showing along the eastern margin of the property
returned 3 samples with elevated copper values. The team collected the samples from a series of
historic trenches along a contact between felsic-intermediate tuff breccias and tuffs and mafic tuff
breccia to iron formation.
Samples D579784, D579791, and D579796 returned 0.30%, 0.09% and
0.06% copper, respectively.
Gossans host the mineralization along this contact zone.
They reflect the presence of iron oxides and
sulfides in the host felsic-intermediate volcaniclastics.
The mafic volcanic rocks nearby contain garnet
porphyroblasts and magnetite-pyrite mineralization. These minerals indicate extensive hydrothermal
alteration.
The team mapped this E-W trending horizon nearly continuously over 3 km south of Maskooch Lake.
An
intermediate volcanic breccia sequence, just south of the contact, shows strong bleaching and chlorite
alteration cutting bleached host rocks.
A cursory model of this area indicates that the bleached and chloritized intermediate volcanic rocks to
the south of the sulfide bearing horizon may be the footwall alteration system to potential VMS style
mineralization.
On the west side of Maskooch Lake a ridge of intermediate volcanic tuff, sample D579811, returned
0.15% Copper.
This area in general has minimal outcrop exposure due to the presence of sandy till in
the area.
Mineralization and mineralogy here is like that on the east side of Maskooch Lake, suggesting
continuity of this strata 3km to the NW
In addition to confirming high grades in the central part of the property adjacent to Wenesaga Road, the
team identified a new gold showing in the northeastern portion of the property called the Skootch
Showing.
The team collected a total of 87 grab/outcrop/subcrop samples during the program.
Four samples
returned values of greater than 1 g/t Au and four samples returned copper grades above 0.10%. The
Table below summarizes the selected results:
Sample ID
Sample Method
Gold (g/t)
Silver (g/t)
Copper (%)
D579821
Float
32.0
109
0.79%
D579823
Float
22.5
12.1
0.07%
D579822
Outcrop
8.29
24.1
0.31%
D579837
Outcrop
1.13
1.20
0.0%
D579784
Outcrop
0.04
2.60
0.30%
D579811
Outcrop
0.06
0.90
0.14%
D579791
Outcrop
0.02
1.82
0.09%
D579796
Subcrop
0.03
1.63
0.06%
The following maps show the locations of the selected samples in context of historic data:
Figure 1: Gold Sample Locations, Maskootch project, NW Ontario, Canada
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7276/101989_158f9539a4c799df_002full.jpg
Figure 2: Copper Sample Locations, Maskootch project, NW Ontario, Canada
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7276/101989_158f9539a4c799df_003full.jpg
Work completed during the 8-day prospecting program verified the presence of high-grade gold and
elevated copper values within sulfide bearing volcaniclastic rocks.
Mapping of the property suggests the
presence of a hydrothermal alteration system with the potential to host gold rich VMS style mineralization
down-plunge from known mineralization.
Sandy till obscures bedrock in the area north and west of Maskooch Lake.
However, the anomalous
copper mineralization encountered on the west side of Maskooch Lake warrant geophysics in the future.
Property Highlights:
The Maskootch project is a 1,480-hectare claim block on the southeastern margin of the Uchi
Greenstone Belt. A series of ultramafic to felsic volcanic rocks underly the property. The volcanics
contain narrow banded iron formation intruded by foliated tonalite.
Previous work was focused on Volcanogenic massive sulphide mineralization based on mineralization
textures associated with gold and copper showings including Maskootch (copper) and Wenesaga Road
(gold). (Figures 1 and 2).
The Maskootch copper prospect sits near the contact between tonalite intrusions and intermediate to
felsic metavolcanics. Trench samples reported in 1984 include 0.43% Copper over 1m. Grab samples
reported in 1986 returned anomalous but low-grade gold (MDI 52K16NW 00014
1
). In 2009, diamond
drilling of airborne electromagnetic conductors returned weakly anomalous copper and gold values from
sulphide-bearing iron formation.
The Wenesaga Road gold prospect is situated in felsic-intermediate metavolcanic rocks along the
western side of the Maskootch property (Figure 1). There are anecdotal reports of high-grade surface
gold (several oz Au samples referenced in the 1991 MDI**. There are no assays available from trench
sampling in the late 1980's. There is a single drill hole reported in the area from 1990 that yielded weakly
anomalous gold values.
The Maskootch property is considered underexplored despite its favourable host rock geology,
extensive alteration footprints which indicate the land position has potential for economic orogenic gold
and/or VMS style mineralization. High-priority exploration targets include mafic-felsic rock contacts,
margins of mafic-ultramafic intrusions, and iron formation host rocks; all of which have yielded significant
deposits in the region.
The Maskootch property is an overlooked exploration asset in the Uchi Greenstone Belt. The recent
option agreement between Kenorland Minerals and Barrick Gold Corp. on ground surrounding
Maskootch demonstrates the renewed interest in the region.
Barrick Gold agreed to spend $6 million
over six years to earn 70% of the South Uchi project.
For more detailed area maps of Maskootch and the Cross River Ventures project portfolio, please visit
www.crossriverventures.com
.
Analytical Procedure
All 2021 samples pertaining to this release were sent to ALS Geochemistry Laboratories in Thunder
Bay, Ontario, for analysis. Samples were prepared using PREP-31 standard rock/core package and
analyzed for gold using standard Fire Assay and ICP-AES (ALS Code: Au-ICP21). Samples returning
over 10.0 g/t Au were then analyzed using Fire Assay - Gravimetric finish methods (ALS Code: Au-
GRA21).
* Note: Grab samples are selective by nature and may not be representative of the average grade or
style of mineralization but will be used to help guide additional exploration on the properties.
The technical content disclosed in this press release was reviewed and approved by Mr. Steven
Flank, P.Geo, MSc., a Qualified Person as defined under National Instrument 43-101.
Historical
assay results contained in this press release were not verified by the Company, however, the historical
reports referenced were authored by experienced geoscientists and copies of laboratory assay sheets
were commonly inserted in the reports.
References and Disclosure
1
www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI52K16NW00006.htm
**The Mineral Deposit Inventory (MDI) provides an overview of mineral occurrences in the province of
Ontario and can be found here:
https://www.geologyontario.mndm.gov.on.ca/ogsearth.html#mineral-
deposit-inventory
About the Company
Cross River is a gold exploration company focused on the development of top tier exploration properties
located in emerging Greenstone Districts of NW Ontario, Canada.
The Company controls a 28,0090-ha,
multiple project portfolio with highly prospective ground in and among prolific, gold bearing greenstone
belts.
Cross River's common shares trade in Canada under the symbol "CRVC" on the CSE, and in the
US under the symbol "CSRVF" on the OTCQB.
Please visit
www.crossriverventures.com
for more
information.
On behalf of the Board of Directors of
CROSS RIVER VENTURES CORP.
Alex Klenman
CEO
604-227-6610
www.crossriverventures.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy
or accuracy of this release.
This news release may contain forward-looking statements. These statements are based on current
expectations and assumptions that are subject to risks and uncertainties. Actual results could differ
materially because of factors discussed in the management discussion and analysis section of our
interim and most recent annual financial statement or other reports and filings with the Canadian
Securities Exchange and applicable Canadian securities regulations. We do not assume any
obligation to update any forward-looking statements, except as required by applicable laws.
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