Damara Gold Discovers New Zone, Completes Trenching and Commences Core Drilling on Placer Mountain
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
NEWS RELEASE
Damara Gold Discovers New Zone, Completes Trenching and Commences Core
Drilling on Placer Mountain
November 19, 2021 TSX-V: DMR
DAMARA GOLD CORP. (TSX-V:DMR) (“Damara” or the “Company”) is pleased to announce
it has discovered a new zone of mineralized quartz veins, completed mechanized trenching
and commenced core drilling on its Placer Mountain Project south of Princeton, BC (“Placer
Mountain” or the “Property”).
Trenching Completed at the New Kodiak Zone Discovery
The Company has now completed a mechanized trenching program consisting of the collection
of 110 continuous chip samples from a combined total of 322 meters in 4 separate trenches
across the newly discovered Kodiak Vein Zone. Mineralized quartz veins were intersected on
the western end of Trenches 1, 2 and the eastern end of Trench 3. Bedrock exposure in Trench
4 was limited to one short section due to deep overburden and did not adequately test the
strike extension of the vein system. The series of veins intersected are closely spaced,
typically 10-50 cm in width and spatially associated with narr ow felsic dykes within granitic
intrusive rocks. The veins display stronger sulfide mineralization and wider alteration halo’s
than is observed at the Main Zone. Assays remain pending for all trench samples.
Grab Samples Confirm Presence of Gold-Silver Mineralization
Rush assays from 10 selected float grab samples collected by soil samplers at the new Kodiak
Zone ranged from below detection up to 70.6 g/t gold and 244 g/t silver . The grab
samples were collected from two separate areas. One a rea is 750 meters southwest along
trend of the Kodiak Zone veins and the other is 200 meters south-southeast, on a possible
separate trend. Neither area has yet had follow up trenching. The Company awaits analytical
results for both the trench samples as w ell as 660 infill and extension soil samples collected
during the Phase II program. The results will be used to design a follow up program of maiden
core drilling this year as well as further soil sampling, trenching, ground geophysics in 2022.
Photographs of the quartz-pyrite veining intersected by trenching as well as selected grab
samples collected at the Kodiak Zone can be found at the following link:
https://www.damaragoldcorp.com/2021_exploration_program_gallery2-389229.html
2,000-meter 2021 Drill Program Underway
The Company also announces that is has contracted Full Force Drilling of Peachland, BC to
mobilize a skid-mounted Zinex A5 core drill to the Property to begin drilling at the Main Zone.
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
Approximately 1,000 meters of drilling in at least 10 holes will be carried out along strike of
the 2020 drilling at the Main Zone. One long hole will test both the Main Vein as well as an
SGH gold anomaly from sampling completed in June of this year. One hole on a large stepout
to the northeast will test a strong chargeability anomaly from the 2020 IP survey.
The geology at the Main Zone consists of Triassic Nicola Group sedimentary and volcanic rocks
which are intruded by granodiorite dykes at the eastern end. Trenching at the Main Zone in
2018 and 2019 demonstrated that the Main Vein horsetails into a series of stringer zones as
it enters the granodiorite intrusion to the east. Post -mineral Princeton Group rocks cover
mineralization to the east and the underlying geology will be tested with core drilling this
year.
Approximately 1,000 meters of drilling is also slated for the new Kodiak Zone trenching
discovery. Once all assays have been received, the Company will issue a press release
detailing those results as well as a finalized drill plan for the Kodiak Zone.
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
Larry Nagy, CEO, commented “We are very excited to be drilling again at Placer Mountain and
testing the along strike extensions of the Main Vein we intersected last Winter. We eagerly
await analytical results on the new Kodiak Zone, which will provide us with a second majo r
target to test this year. The recently flooding has unfortunately had a devastating effect on
the nearby town of Princeton, and we are working closely with local suppliers and contractors
to ensure everyone’s well-being and safety during these difficult times.”
Qualified Person
Dr. Gerald G. Carlson, PhD, PEng, technical advisor to the Company, is the Qualified Person
as defined by National Instrument 43-101 who has reviewed and approved the technical data
in this report.
About Damara
Damara Gold Corp. is a TSX Venture listed Canadian public company with a Board of Directors
seasoned in the mineral exploration industry with extensive and successful international
experience with a focus on identifying and acquiring prospective and under -explored gold
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
properties worldwide.
ON BEHALF OF THE BOARD OF DIRECTORS OF DAMARA
“Larry Nagy”
Larry Nagy, Chief Executive Officer
For additional information visit Damara’s website at www.damaragoldcorp.com or contact:
Damara Gold Corp.
Larry Nagy
Chief Executive Officer or
Terese Gieselman
Chief Financial Officer
Ph: (250-717-1840)
Disclaimer for Forward-Looking Information
This news release contains statements that constitute "forward -looking Information", as such term is
used in applicable Canadian securities laws . Such forward -looking information involves known and
unknown risks, uncertainties and other factors that may cause the C ompany’s actual results,
performance or achievements, or developments in the industry to differ materially from the anticipated
results, performance or achievements expressed or implied by such forward -looking information.
Forward-looking information includes statements that are not historical facts and are generally, but not
always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or conditions "wi ll," "would," "may,"
"could" or "should" occur.
Although the Company believes the forward -looking information contained in this news release is
reasonable based on information available on the date hereof, by its nature forward-looking information
involves assumptions and known and unknown risks, uncertainties and other factors which may cause
our actual results, level of activity, performance or achievements, or other future events, to be materially
different from any future results, performance or achievements expressed or implied by such forward -
looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks
and uncertainties associated with general economic conditions; the C ovid-19 pandemic; adverse
industry events; the receipt of required regulatory approvals and the timing of such approvals; that the
Company maintains good relationships with the communities in which it operates or proposes to operate,
future legislative and regulatory developments in the mining sector; the Company ’s ability to access
sufficient capital from internal and external sources, and/or inability to access sufficient capital on
favorable terms; mining industry and markets in Canada and generally; the ability of the Company to
implement its business strategies; competition; the risk that any of the assumptions prove not to be
valid or reliable, which could result in delays, or cessation in planned work, risks associated with the
interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results
will not be consistent with the Company’s expectations, as well as other assumptions risks and
uncertainties applicable to mineral exploration and development activities and to the Company, including
as set forth in the Company’s public disclosure documents filed on the SEDAR website at
www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS
THE EXPECT ATIONS OF DAMARA AS OF THE DATE OF THIS PRESS RELEASE AND,
ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE
UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
THIS INFORMATION AS OF ANY OTHER DATE. WHILE DAM ARA MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS
REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press
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