Damara Intersects High-Grade Gold at Kodiak Zone with 3.0 meters of 39.2 g/t Gold and 80.4 g/t Silver
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
NEWS RELEASE
Damara Intersects High-Grade Gold at Kodiak Zone with 3.0 meters of 39.2 g/t
Gold and 80.4 g/t Silver
March 24, 2022 TSX-V: DMR
• KZ-21-05 intersects 3.0 meters of 3 9.2 g/t Gold and 80.4 g/t Silver in
Southern BC, ~15 km from Copper Mountain Mine
• Kodiak Zone is open in all directions, with a 1.5 km high-grade soil anomaly
still open to the east
• Strong p otential for additional discoveries under post -mineral volcanics
spanning a 2.5-km distance between the Kodiak and Main Zones
• Quartz-sulphide veining intersected in all drill holes at Kodiak Zone
• Only 1/3 of the 600-meter-wide Kodiak Zone has been tested
• The mineralization at Placer Mountain has strong geological similarities to
Gold Mountain Mining’s Elk Deposit 80 km to the north
• Multiple gold occurrences found in just a single field season at Placer
Mountain; additional ground staked to the north along prospective geological
structure with expanded drilling planned for 2022
DAMARA GOLD CORP. (TSX -V:DMR) ( “Damara” or the “Company”) is very pleased to
announce it has confirmed a new high-grade gold zone at its Kodiak Zone prospect, located
on the Company’s Placer Mountain project in Southern BC (“Placer Mountain ” or the
“Property”). The Company rushed the processing and assays for hole KZ-21-05 which
intersected 3.0 meters of 39.2 g/t Gold and 80.4 g/t Silver within a new orogenic-style vein
system discovered through reconnaissance soil sampling and trenching in 2021 (Figures 1,
2). The true width of the vein is unknown at this time, due to the broken and weathered
nature of the recovered core, but high angle fractures suggest that the reported interval may
be near to true width. The new gold system is characterized by quartz-sulphide veins hosted
within a clay-sericite altered intrusive unit, near the contact with Nicola Group volcanic and
sedimentary rocks . Quartz-sulphide veining was intersected in all eight holes, revealing
several parallel near surface veins for which assays are pending.
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
Table 1 - Highlight Intercept from Rushed Drill Hole KZ-21-05
Hole ID From (m) To (m) Interval (m)* Au (g/t) Ag (g/t)
KZ-21-05 27.00 30.00 3.0 39.2 80.4
incl. 27.00 28.00 1.0 27.4 62
incl. 28.00 29.00 1.0 87.5 169
incl. 29.00 30.00 1.0 2.8 10.1
*The intervals reported in these tables represent drill intercepts and insufficient data are available at this time to state t he true
thickness of the mineralized intervals. All gold values are uncut.
CEO Comment
Larry Nagy, CEO, commented “Our maiden drill program has now confirmed the presence of
a second potentially large orogenic gold system at Placer Mountain. The Kodiak Zone appears
even more robust than the Main Zone, delivering the highest-grade gold ever intersected in
drilling on the project . The new system was discovered by systematic soil sampling and
trenching along strike of the Main Zone, and our maiden drill program has now verified the
high-grade nature of the veins trenched on surface. Our drilling has intersected significant
quartz-sulphide veining in all holes, revealing a robust mineralized system, of which we have
only just scratched the surface. We look forward to releasing assay results for the remaining
drill holes, for which we expect assays very soon.
We are very pleased with the progress made on the project since the first ever hole drilled in
December of 2020. In just a single year, our drilling has now expanded the Main Zone and
unveiled a major new gold occurrence at the Kodiak Zone. We expect 2022 to be an even
more momentous year for the Company as we continue building on Southern BC’s newest
orogenic gold discovery.”
Deposit Model
The Company has noted strong similarities to the drilling at Gold Mountain Mining Corp’s. Elk
Deposit1, which recently began commercial production on an orogenic gold system just 76 km
to the north of Placer Mountain . The Elk Gold Deposit, which is defined by approximately
50,000 meters of drilling in 973 drill holes, is centered along the contact of Nicola Group
volcanic and sedimentary rocks with a Jurassic aged intrusion. Both the Main Zone and the
newly discovered Kodiak Zone are both situated along a similar geological contact at Placer
Mountain, which represents an important structural control and guide to the Company’s future
exploration.
1This news release contains information about adjacent properties on which Damara has no right to explore or mine. Readers are cautioned
that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
Figure 1 – Cross-Section of KZ-21-05 at Kodiak Zone
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
Figure 2 – Plan View Showing Location of KZ-21-05 at Kodiak Zone
The Company has staked additional ground along this important geological structure, adding
several km of untested strike length to the north of the Kodiak Zone. The Company also plans
to carry out a large geochemical program to the south of the Main Zone as well, along the
newly realized important structural control, which has never before seen exploration.
2022 Exploration Program
The Company is currently planning it’s 2022 exploration program for Placer Mountain, which
will be focused on extending the orogenic gold system at depth and along strike at both the
Main Zone and the Kodiak Zone. The program will also involve further soil sampling along the
important Nicola Group -Jurassic Intrusive contact; a newly recognized structural control on
emplacement of vein systems. Up to 20 km of untested strike will be sampled to the north of
the Kodiak Zone, south of the Main Zone and between the two zones, to explore for additional
high-grade orogenic gold veins.
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
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.
QA/QC Procedures
Drill core samples were prepared and analyzed at MS A Labs laboratory in Langley, B.C. by
analytical code AuAg12, which assays gold by fire assay and silver by aqua regia digest. Prior
to shipment, blind quality control s amples were inserted at a frequency of in every 10
samples, including blank material, 3 different certified reference s tandards (high, medium
and low grade gold and silver), ¼ core duplicates and empty bags for pulp duplicates. Sample
preparation at the laboratory was completed by crushing the entire sample to 70% passing -
2mm, riffle splitting off 1 kilogram and pulverizing the split to greater than 85% passing 75
microns. Using a 30 gram sub-sample, the gold values are determined by fire assay method,
with atomic absorption finish, which reports results in parts per million (ppm) (equivalent to
grams per tonne (g/t)). Silver results were determined by aqua regia digestion with ICP -ES
finish. Analytical results for the quality control samples were independently verified to pass.
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
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
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 Company’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 "will," "would," "may,"
"could" or "should" occur.
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com
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 Covid -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 pub lic disclosure documents filed on the SEDAR website at
www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS
THE EXPECTATIONS 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
THIS INFORMATION AS OF ANY OTHER DATE. WHILE DAMARA MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFO RMATION AT ANY PARTICULAR TIME EXCEPT AS
REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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 press
release.