Big Ridge Announces Drill Results from 2021 Destiny Drill Program
Big Ridge Announces Drill Results from 2021
Destiny Drill Program
Toronto, Ontario--(Newsfile Corp. - January 4, 2023) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB:
ALVLF) ("
Big Ridge
") is pleased to announce diamond drill results from its Destiny Gold Project,
located 100 kilometres northwest of Val d'Or, Quebec. The drill holes reported in this press release are
from the central portion of the DAC Zone and Gap Zone designed to confirm the mineralized structure
identified in past drill programs.
Highlights:
Drill hole DES-21-173 intersected
8.90 g/t Au over 0.4 m
, Drill hole DES-21-177 intersected 5.17
g/t Au over 5.8 m
including 43.1 g/t Au over 0.6 m
, Drill hole DES-21-179 intersected 3.78 g/t
Au over 16.3 m
including 8.85 g/t Au over 6.7 m and 42.6 g/t Au over 1.0 m.
Drilling successfully intersected gold mineralization across the DAC zone in the 2021 drill program
with results being reflective of the variable gold content seen in historic drilling with intersections of
visible gold creating significantly higher localized grades.
The 2021 Destiny drill program completed by Big Ridge's past project partner totalled 10,600 m of
diamond drilling in 27 holes at the DAC and Gap Zones. Results reported herein are from the final
nine drill holes from the 2021 program at Destiny.
Destiny 2021 Drill Program
Results released today from the Destiny drill program are the remaining unreported hole results from the
2021 drill program completed by the past project partner Clarity Gold Corp. Clarity released results from
the first 18 diamond drill holes in Clarity news releases dated June 16
th
, September 15
th
and December
2
nd
, 2021. Reported results for Drill Holes DES21-156 to DES21-171 are related to exploration in the
central portion of the Destiny project claims targeting the DAC and Gap Zones. Clarity also completed
two drill holes on the eastern end of the property, no significant results were reported in these holes. The
2021 drill program focused on infill drilling and extension of gold mineralization between, the DAC and
Gap Zones as well as testing the deposit at depth. The program was successful in both areas and
demonstrated that the Destiny gold project remains open for further expansion of the DAC deposit.
Table 1 - Destiny 2021 Unreported Drill Holes
Hole Number
From
(m)
To
(m)
Length
(1)
(m)
Assay
(2)
g/t Au
Lithology
DES21-172
263.0
280.0
17.0
0.54
Sheared, alternating Felsic Quartz
Eye Porphyry Intrusive (QEP) and
Gabbro
DES21-173
63.2
67.0
3.8
0.87
Moderately to strongly sheared
Gabbro
DES21-173
72.7
73.0
0.4
8.90
Felsic Intrusive (QEP)
DES21-173
234.0
238.4
4.4
0.89
Fine grained Felsic Intrusive
DES21-174
194.0
195.7
1.7
1.36
Mafic Volcanic rocks
DES21-174
200.0
206.9
6.9
0.82
DES21-174
276.5
278.0
1.5
2.12
DES21-175
198.9
208.0
9.2
1.23
Fine grained Felsic Intrusive
DES21-176
202.0
204.0
2.0
1.28
Mafic Volcanic rocks
DES21-177
268.6
274.4
5.8
5.17
Mafic Volcanics, quartz feldspar
porphyry intrusive, quartz veining
DES21-177
incl.
268.6
269.2
0.6
43.1
DES21-177
418.0
418.3
0.3
37.8
Thin felsic intrusive in Gabbro
DES21-178
268.3
271.9
3.7
1.93
Felsic Intrusive (QEP) and Gabbro
DES21-178
incl.
269.4
271.9
2.5
2.80
DES21-179
366.5
382.8
16.3
3.78
Altered Basalt and Felsic Intrusive
(QEP)
DES21-179
incl
374.0
380.7
6.7
8.85
DES21-179
incl
379.7
380.7
1.0
42.6
DES21-179
413.5
414.4
0.9
2.30
Felsic Intrusive (QEP)
DES21-179
472.9
476.9
4.1
2.78
Mafic Volcanics and Quartz Gabbro
DES21-179
incl
472.9
474.2
1.4
4.65
DES21-180
442.4
448.0
5.6
2.06
Mafic Volcanics
DES21-180
468.0
469.0
1.0
1.52
DES21-180
603.6
604.3
0.7
4.39
DES21-180
607.8
608.4
0.6
2.97
Hole Number
From
(m)
To
(m)
Length
(1)
(m)
Assay
(2)
g/t Au
Lithology
1
.
Intervals are presented in core length; holes are generally planned to intersect mineralization as close to perpendicular to strike as possible.
2
.
Assays results presented are not capped. Intercepts have not been correlated to individual structures/ horizons within resource estimated
zones at this time.
To view drill hole locations in plan and sections please click on the following link:
https://bigridgegold.com/site/assets/files/5583/destiny_pr_planview_01042023.pdf
Quality Assurance and Quality Control (QA/QC)
This press release includes information from assay certificates and core logging and drill locations
provided by Clarity Gold upon return of the project to Big Ridge.
Big Ridge has reviewed the information
from the program, including assay Quality Assurance/Quality Control information and core logs and are
satisfied with the reliability of the information and its consistency with NI 43-101 and industry best
practices. The information in this news release has been reviewed Big Ridge's Vice President
Exploration, William McGuinty P. Geo.
During the 2021 drill program, Clarity Gold secured and transported core from the Destiny project by
road to a facility in Val d'Or where it was logged, photographed, marked and cut for sampling. Core
samples were sawn and half core prepared, tagged and securely shipped to Bureau Veritas ('BV')
Laboratories in Timmins for processing and analysis. Samples received by the BV lab were crushed to
70% passing 2mm sieve size and a 250-gram subsample was pulverized to 85% passing 75μm sieve
size. The subsample was analyzed by a combination of fire assay with atomic absorption and
gravimetric finish techniques for gold and using AQ300 Aqua Regia digestion ICP-ES analysis on a
small sample aliquot of each sample to provide results for a suite of 33 additional elements. Overlimit
gold assays from initial BV FA430 (AA finish) procedure were re-assayed using BV's FA530
(gravimetric finish) procedure. Samples containing visible gold or which returned over 2.0 g/t Au were
analyzed using BV's metallic screen + fire assay FS652 procedure. Clarity established a QA/QC
program consisting of inserting quality control (QC) samples at regular intervals in the sample stream,
including blanks, duplicates, and reference materials.
About the Destiny Project
The Destiny Gold Project is located is Despinassay Township, 100 km northeast of the city of Val d'Or,
QC. The property is accessible by provincial highway 397 which passes through the property. The
property consists of 127 mineral claims totaling 5,013 Ha and is owned 100% by Big Ridge (formerly
Alto Ventures). The property hosts the DAC Deposit comprised of high-grade quartz veins occurring
within five parallel altered gold bearing shear zones. Two other target areas, the Gap and the Darla
Zones are also exploration targets of continued interest.
In 2011 a mineral resource estimate was completed by Wardrop Engineering for the DAC Zone and
reported in "NI 43-101 Technical Report and Resource Estimate of the DAC Deposit, Destiny Property,
Quebec", dated March 1, 2011 and described below.
DAC NI 43-101 Resource Estimate (2011)* 0.5 g/t cut off
Class
Tonnes
g/Au/tonne
Au(ounces)
Indicated
10,800,000
1.05
360,000
Inferred
8,300,000
0.92
247,000
DAC NI 43-101 Resource Estimate (2011)* 0.8 g/t cut off
Class
Tonnes
g/Au/tonne
Au(ounces)
Indicated
5,359,000
1.48
255,000
Inferred
3,534,000
1.35
153,000
* Gold price of $US973/troy oz, $US to $CAD conversion of 1.02, Gold Recovery of 94%
About the DAC Deposit
The DAC deposit is located in the Abitibi Greenstone Belt of western Quebec. It is a shear-hosted lode
gold deposit located in mafic volcanic rocks bounded on the north and south by mafic intrusions. The
deposit has been delineated over a strike length of approximately 600 m on an easterly trend and is
comprised of 5 defined south dipping mineralized bodies ranging from 5m to 15 m in thickness across a
stratigraphic width of 150 m and to a depth of 700 m. Mineralization is commonly hosted in quartz
carbonate veining with a halo of variably intense phases of biotite, sericite and carbonate alteration and
silicification.
Two phases of mineralization are prevalent in the deposit. Anomalous to sub-economic gold
mineralization occurs in two wide gold-bearing shears lying along or close to the north and south
boundary of the mafic volcanic assemblage. These shears display very strong mylonitic deformation,
biotite and sericitic (potassic) alteration and locally, silica alteration. The volcanic assemblage has been
intruded by fine grained and quartz-porphyritic felsic intrusive sills. The host volcanics and mineralized
zone are flanked both to the north and south by gabbroic units characterized locally by abundant blue
quartz eyes.
Shears also occur within the southern gabbroic unit, paralleling the main gold-bearing shears in the
volcanic assemblage. These can also host very high-grade gold mineralization locally.
Higher grade gold mineralization occurs where two shear zones and their felsic intrusives are strongly
folded, brecciated and quartz flooded. Based on drill core, geologists have interpreted the higher-grade
zones as being hosted within a large "Z" fold structure.
About Big Ridge Gold Corp.
Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and
experienced team of officers and directors. The Company's flagship property is the Hope Brook Gold
Project located in southwestern Newfoundland. Hope Brook produced 752,163 ounces of gold between
1987 - 1997, 19,892 meters of diamond drilling was completed by the company in 2021 - 2022 and an
updated Mineral Resource Estimate will be completed during H1, 2023.
Big Ridge owns a 100%
interest in the highly prospective Oxford Gold Project located in Manitoba and the Destiny Gold Project in
Quebec. The company is committed to the development of advanced-stage mining projects using
industry best practiced combined with strong social licence from our local communities.
For more details regarding the Company's projects, please visit our website at
www.bigridgegold.com
ON BEHALF OF THE BOARD,
Mike Bandrowski,
President & CEO
For further information, including a copy of the corresponding report filed with Canadian securities
regulators, please visit
www.sedar.com
or contact:
Mike Bandrowski,
President & CEO
BIG RIDGE GOLD CORP.
18 King St. East, Suite 1400
Toronto, ON, M5C 1C4
Tel: 416-540-5480
Email:
Neither the 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.
Table 2 - Drill Hole Locations*
Hole number
Zone
Depth
Azimuth
Inclination
Northing
Easting
Elevation
DES21-172
DAC
426
175.2
-50.3
5401817
317532
303
DES21-173
DAC
363
180.3
-50.1
5401701
317584
302
DES21-174
DAC
390
180
-50
5401770
317589
304
DES21-175
DAC
330
179.9
-50
5401682
317734
303
DES21-176
DAC
300
180
-50.1
5401665
317786
302
DES21-177
DAC
480
180.3
-50.1
5401850
317669
307
DES21-178
DAC
351
180
-50
5401738
317858
306
DES21-179
DAC
576
180
-55
5401953
317587
305
DES21-180
DAC
651
175
-55
5402020
317377
308
* Hole collars are in NAD83 / UTM Zone 18 N coordinates and drilled NQ diameter.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable Canadian securities
legislation. These forward-looking statements are made as of the date of this news release. Forward-
looking statements are frequently, but not always, identified by words such as "expects", "anticipates",
"believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy",
"goals", "objectives", or variations thereof or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms
and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and
reflect current estimates, predictions, expectations or beliefs regarding future events, and include,
without limitation, statements with respect to Big Ridge's intentions with respect to Caprock's shares.
All forward-looking statements are based on Big Ridge's and its employees' current beliefs as well as
various assumptions made by them and information currently available to them. There can be no
assurance that such statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. Forward-looking statements reflect the
beliefs, opinions and projections on the date the statements are made and are based upon a number
of assumptions and estimates that, while considered reasonable by the respective parties, are
inherently subject to significant business, economic, competitive, political and social uncertainties
and contingencies. Many factors, both known and unknown, could cause actual results, performance
or achievements to be materially different from the results, performance or achievements that are or
may be expressed or implied by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these factors. When relying on our
forward-looking statements to make decisions with respect to Big Ridge, investors and others should
carefully consider the foregoing factors and other uncertainties and potential events. Big Ridge does
not undertake to update any forward-looking statement, whether written or oral, that may be made from
time to time by the Company or on our behalf, except as required by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/150211