Goldseek Resources Defines up to 165 Gold Grains (1,747 ppb Au) in Till at Val-D'or North and Identifies 4 Targets

Highlights:

• Maiden soil (till) program identifies 4 targets at Val D’Or North Project nearby recent M&A in the district
• Target C had the highest calculated ppb Au values (295ppb, 380ppb, and 1747ppb Au) and the highest total gold grain count (125 and 165 total grains), indicating a probable proximal source to the NNE of the defined anomaly.

April 20th 2021 – TheNewswire – London, Ontario – Abitibi Metals Corp. (CSE:GSK) (FSE:4KG) (OTC:GSKKF) (CNSX:GSK.CN) (“Goldseek” or the “Company”) is pleased to announce partial results from the completed soil (till) survey on its recently acquired Val-d’Or North Property (see news release dated November 10th, 2020). The best results include a succession of 5 samples containing gold anomalies (gold grain count and ppb Au equivalent) identified as Target 3. The Company is currently waiting for the heavy mineral concentrate assay results, which will allow the Company to better interpret the potential source of the anomalies found on the Property. The survey generated a total of 4 Targets which will be subject to a follow-up program this summer.

Goldseek’s President & CEO Jon Deluce states, “We are very encouraged to report our strong maiden till results and the identification of 4 Targets at our Val D’Or North Project. For a cost-efficient first pass of the Project, these initial results exceeded our expectations, and we look forward to our follow-up program this summer to better define the targets in this area of the Val D’Or district that is very underexplored. This shows the depth of our asset portfolio besides our new advanced stage flagship Beschefer.”

The Survey

The till survey consisted of the collection of approximately 15kg of B-Horizon material along access roads. The survey totalled 124 samples, over a total of 265 visited stations. The collected samples were sent to Overburden Drilling Management (ODM) in Ontario to produce a heavy mineral concentrate and gold grain count. The mineral concentrate was sent to Agat Laboratory in Timmins (Ontario) to assay a series of metallic elements and common pathfinders (results are pending).

Figure 1: Visited Stations and Targets

Gold Grain Count Interpretation

Gold grains in the concentrates are examined to estimate the relative distance that the grains have been transported from their bedrock source by observing the degree of rounding, polishing, and bending of the grains. Gold grain morphology classification is described as pristine, modified, or reshaped. Using the above information, potential sources can be defined to establish exploration targets. Table 1 presents the best results, while Figure 2 and Figure 3 shows the location and quantity of total gold grains on the eastern and western parts of the Property.

Table 1: Best Gold Grain Counts and Equivalent ppb gold Per Target

Figure 2: Gold Grain Count Results on the Western Targets

Figure 3: Gold Grain Count Results on the Eastern Targets

The interpretation of the gold grain count resulted in the identification of four areas with anomalous values total gold grain count.

Target 1 is located north of the Mogul showing. The showing has been described as a VMS system hosted at the contact between felsic tufs and basalts. The anomaly is open towards the north and will require additional sampling to define its extension. The Company acquired 23 claims to cover the potential source of the anomaly.

Target 2 is south of the Lavoie-Simard showing. The showing has been described as a Mo-Cu-Au-Zn showing, returning up to 3.32% Mo, 0.2% Cu, 2.06% Zn, 1.03g/t Au and 5.14g/t Ag (Ingham, 1953). Target 2 could be the down-ice manifestation of this showing and presents a very narrow dispersion trail in a NNE-SSW direction. It is also possible that new mineralization is the source of Target 2.

Target 3 is a very intense anomaly, with a cluster of the highest calculated ppb Au values (295ppb, 380ppb, and 1747ppb Au) and highest total gold grain count (125 and 165 total grains), indicating a probable proximal source to the NNE of the defined anomaly.

Target 4 is a small cluster of medium to high total gold grains (10, 19, 19 and 30 total grains).

All of the targets are open since the previous survey didn’t consist of a grid survey but was rather placed along the road to quickly assess the Val d’Or North Property in a cost-effective method.  Additional sampling will define the size of the anomalies and interpret the potential source more easily.  Till and boulder sampling will be carried out over the targets.

Qualified Person

This press release was prepared by Steven Lauzier, VP Exploration for Quebec, P.Geo,OGQ and by Pierre-Alexandre Pelletier, P.Geo OGQ, who are qualified persons as defined under National Instrument 43-101, and who reviewed and approved the geological information provided in this news release.

References

Ingham, W.N., 1953: Information Report. Claims Lavoie, GM 02270.

Ingham, W.N., 1956: Information report on the Property. Claims Wrona, GM 03883.

About Abitibi Metals Corp.

Abitibi Metals Corp. is a Canadian exploration company with a portfolio of assets in Ontario and Quebec, Canada. By identifying six projects in world-class mining locations, Goldseek is poised to deliver shareholder value through rigorous exploration and development on these properties. Our mission is to find the next major discovery in the mining camps of Urban Barry, Quevillon, Val D’Or, and Detour Gold Trend in Quebec and Hemlo in Ontario.

ON BEHALF OF THE BOARD

Jonathon Deluce

Chief Executive Officer

Telephone: 226-271-5170

For more information, please contact:

Abitibi Metals Corp.

E-mail: [email protected]

The reader is invited to visit Goldseek’s web site https://www.goldseekresources.com/

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.