Aurcrest GOLD Provides Assay Results from Ranger Lake Spring/Summer 2021 Exploration Program
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AURCREST GOLD PROVIDES ASSAY RESULTS FROM RANGER LAKE
SPRING/SUMMER 2021 EXPLORATION PROGRAM
NEWS RELEASE FOR IMMEDIATE RELEASE
NOVEMBER 15, 2021 TSXV Symbol: AGO
Toronto, Ontario, November 15, 2021 – AurCrest Gold Inc. (the “Company” or “AurCrest”)
(TSX:AGO) would like to thank shareholders for their patience given the industry-wide support
service delays and provide drill hole assay results from the Spring-Summer 2021 program on the
100% owned Ranger Lake property, Ontario (“Ranger Lake” or the “Property”).
Nine (9) diamond drill holes positioned off 3 drill pad locations were designed to test one (1) of
three (3) high priority targets interpreted from favorable CARDS AI information, regional and
property scale airborne aeromagnetic contrasts associated with the CARDS anomalies, SGH
(spatiotemporal geochemical hydrocarbon) analysis and modeling of high Au pathfinder results,
and mapping of geological and structural features in sparse outcrop exposures (Figures 1 and 2).
A total of 1,683 metres of NQ core were completed (Table 1). Drill hole orientations also were
guided by 3D plotting of sulphide intersection observed during ongoing drilling.
Table 1: Drill hole data for the Spring-Summer 2021 Ranger Lake program.
Eight (8) drill holes encountered sulphide veins and stringer zones over 1-7 metre intervals
hosted in a metasedimentary sequence. Veins and host rocks are sheared and folded, and display
characteristics consistent with stages of post-mineralization deformation and partial melting, the
latter inferred by quartz-alkali feldspar leucosomal bands.
Petrographic review of polished thin sections from several of these intervals demonstrated a suite
of mixed silicates and magnetite overprinted by sulphide minerals including pyrrhotite which
showed pristine character to incipient replacement by marcasite (in shallow samples), and
idiomorphic pyrite displaying minor late chalcopyrite along grain margins and fractures.
Drill Hole ID UTM Easting UTM Northing Elevation (m) Length (m) Azimuth Dip
RAL21-001 462326 5656453 385 214 20 45
RAL21-001B 462326 5656453 385 133 0 90
RAL21-001C 462326 5656453 385 202 335 45
RAL21-001CC 462326 5656453 385 25 345 45
RAL21-002 462233 5656360 383 186 165 45
RAL21-002B 462233 5656360 383 203 0 45
RAL21-003 462099 5656382 374 316 350 45
RAL21-004 462351 5656448 384 202 20 50
RAL21-004B 462352 5656444 384 202 155 45
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No precious metal or other base metal minerals were identified under the microscope and the low
assay values correlate with those observations.
A total of 606 samples were submitted for assay from eight (8) holes and selected intervals with
>1.0 ppm Ag (n=30) are presented in Table 2. RAL21-001, 001B, and 002B were sampled
entirely at one metre increments. The remaining holes were sampled selectively based on
sulphide content, and RAL21-002 was not sampled due to a lack of sulphide-bearing intervals.
Selected sulphide intervals in five holes range from the overburden interface typically to depths
of <20 metres from surface and deeper intervals in four holes ranging from 130-187 metres
depth. Only RAL21-001 exhibited both shallow and deep intersections.
Figure 1: Western Ranger Lake property (see insert) showing Cards AI targets and SGH
modeling (coloured contours) with potential redox zones (dashed lines) relative to drill holes.
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Figure 2: Collar locations and surface projections of Spring-Summer 2021 drill holes relative to
Cards AI and SGH modeling targets. Property location is shown in the inserts.
Geochemical data showed the presence of silver only in minor amounts (up to 2.63 g/t Ag) in
several holes (Table 2). RAL21-001CC reported 12.3 g/t Ag over 5 metres (12-17m), mainly
included in a single assay of 57.6 g/t Ag over 1 metre (12-13m). Re-analysis of this anomalous
core interval reported 30 g/t Ag and suggested a “local nugget effect” consistent with
observations of discrete thin veinlets in the drill core.
Gold values, throughout the drilling intervals tested, were very low and ranged from <2 ppb
(minimum detection limit with 133 samples above limit) to 25 ppb.
Base metal (Cu, Pb, Zn) and pathfinder (As, Bi, Hg, Sb, Se, Te) elements reported low values, as
per 95th percentiles, of 40-240 ppm and 0.3-1.8 ppm, respectively by group, with Cu representing
the highest values up to 895 ppm.
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Table 2: Selected geochemical results from sulphide zones intersected.
AurCrest will re-assess the principal geochemical exploration targets and evaluate the compiled
geological and structural data from the Phase 1 program to develop a working geological
Drill Hole ID Au Ag Cu Fe
From (m) To (m) ppb ppm ppm wt %
RAL21-001 13 14 12 1.04 309.0 12.6
RAL21-001 14 15 15 0.77 286.0 10.5
RAL21-001 22 23 <5 0.79 80.2 2.92
RAL21-001 149 150 7 0.57 206.0 7.3
RAL21-001 150 151 8 1.12 370.0 14.0
RAL21-001 151 152 <5 0.74 330.0 7.2
RAL21-001B 10 11 6 0.86 242.0 9.0
RAL21-001B 11 12 8 0.21 66.7 6.0
RAL21-001B 12 13 < 2 0.23 84.4 8.3
RAL21-001B 13 14 6 1.02 238.0 9.8
RAL21-001B 14 15 7 1.49 396.0 12.9
RAL21-001B 15 16 7 1.86 565.0 17.3
RAL21-001B 16 17 7 1.45 466.0 14.5
RAL21-001C 12 13 4 0.48 116.0 8.7
RAL21-001C 13 14 2 0.41 84.1 9.6
RAL21-001C 14 15 3 1.07 339.0 10.2
RAL21-001C 15 16 5 0.90 245.0 15.0
RAL21-001C 180 181 < 2 1.99 40.7 2.3
RAL21-001CC 12 13 2 57.6 313.0 6.8
RAL21-001CC 13 14 < 2 0.12 62.9 8.6
RAL21-001CC 14 15 2 0.41 65.6 8.1
RAL21-001CC 15 16 2 2.63 122.0 11.2
RAL21-001CC 16 17 5 0.72 280.0 9.0
RAL21-002B 128 129 8 1.39 878.0 12.4
RAL21-002B 129 130 9 1.17 502.0 13.6
RAL21-003 185.6 186 21 1.83 895.0 >15.0
RAL21-003 186 187 13 1.53 732.0 >15.0
RAL21-003 187 187.6 6 0.55 244.0 6.5
RAL21-004B 11 12 9 1.55 349.0 13.7
RAL21-004B 12 13 11 2.23 673.0 22.6
*Assay results are compiled from multiple analyticaltechniquesincludingfire assay FA-MS
and multielementINAA/TD-ICP/TD-ICP-MS.
Sample Interval
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premise. The Company continues to believe that the large Ranger Lake property merits further
exploration in this underexplored and untested region proximal to multiple gold deposits.
Geochemical analysis, quality assurance and quality control
Core was logged and photographed, and metre interval samples were halved on a diamond saw at
the Company’s logging and storage facility in Ear Falls, Ontario. Sampling was overseen by the
Company’s geologic team. Samples were delivered by hand to SGS laboratories in Red Lake,
ON and Activation Laboratories Ltd (“Actlabs”) in Dryden, ON. Actlabs and SGS Laboratories
are certified and/or accredited as ISO/IEC 17025:2017 from the Standards Council of Canada.
In-house quality control samples (blanks, standards, duplicates, pulp and coarse duplicates) were
inserted into the sample sets by the geologic team. Additionally, both laboratories conducted
similar internal QA/QC protocol and results were provided with the Company sample
certificates. Control samples reviewed by the Qualified Person were within acceptable ranges
and approved for release. One interval was re-analyzed to verify elevated Ag content. Sample
and pulp rejects will be stored at the SGS and Actlabs facilities.
Qualified Person
Greg Davison, P.Geo. (BC), a Qualified Person in accordance with Canadian regulatory
requirements as set out in National Instrument 43-101 Standards of Disclosure for Mineral
Projects, has read and approved the scientific and technical information that forms the basis for
the disclosure contained in this Press Release.
ABOUT AURCREST GOLD INC.
AurCrest is a mineral exploration company focused on the acquisition, exploration, and
development of gold properties. AurCrest has a portfolio of properties in Ontario, which include
the Richardson Lake, Ranger Lake and Bridget Lake gold properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
Christopher Angeconeb Ian Brodie-Brown
President and C.E.O. Director of Business Development
(807) 737-5353 (416) 844-9969
[email protected] [email protected]
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and
unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the Company are forward looking
statements that involve various risks. The following are important factors that could cause the
Company’s actual results to differ materially from those expressed or implied by such forward looking
statements: changes in the world-wide price of mineral commodities, general market conditions, risks
inherent in mineral exploration, risks associated with development, construction and mining operations,
the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no
assurance that forward-looking statements will prove to be accurate as actual results and future events
may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to
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update such forward-looking statements if circumstances or management’s estimates or opinions should
change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.