Canada One Completes IP Survey over VMS Target at Abitibi East Critical Minerals Project, Ontario
Canada One Completes IP Survey over VMS
Target at Abitibi East Critical Minerals Project,
Ontario
Vancouver, British Columbia--(Newsfile Corp. - December 18, 2023) -
Canada One Mining Corp.
(TSXV: CONE) (OTC Pink: COMCF) (FSE: AU31) ("Canada One" or the "Company")
is pleased
to announce it has completed an 46km gradient array induced polarization (
"Gradient IP"
) survey over
a potential Volcanogenic Massive Sulphide ("
VMS
") target on its Abitibi East Critical Minerals Project
("
Abitibi East
" or the "
Project
" or the "
Property
") located 60kms northeast of Timmins, Ontario,
Canada.
The Project is located on the western end of the world-class Abitibi Greenstone Belt, in proximity to the
Timmins Mining Camp (119 Moz Au and 337 Moz Ag historical production)
1
, the Kidd Creek Volcanic
Massive Sulphide (VMS) deposit (2.5 Mt Zn, Cu, Ag Proven and Probable)
2
, and the Alexo-Dundonald
nickel deposit (1,254 kt Ni, Cu, Co Indicated)
3
.
Highlights
46km Gradient IP survey completed
Objective of the survey is the identification and definition of a VMS target
Survey data results are currently being analyzed by the technical team with recommendations to
follow
VMS deposits can be rich in zinc, copper, lead, silver and gold
Positive results will warrant next phase exploration, including potential drill target generation
Gradient IP Survey
Gradient IP is a fast and relatively inexpensive geophysical method to map conductivity and chargeability
in the near surface. It provides a better understanding of the electrical properties of the area being
explored to determine if chargeability and potential conductivity could be used for targeting
mineralization.
A 46km GPS grid was established and the Gradient IP survey was carried out by GPS navigation using
Garmin handheld units. Two IPR12 receivers were used simultaneously, gradient readings were taken
along east/west lines spaced at 100m with readings taken at 50m intervals.
The main feature of the Gradient IP survey is a large broad chargeability high within the center of the
survey area. The data is presently being reviewed by the technical team which will provide an
interpretation of the data and recommendations for follow-up survey work.
About VMS Deposits
VMS deposits are one of the richest sources of metals such as copper, lead, and zinc globally. VMS
deposits can also produce economic amounts of gold and silver as byproducts of mining these deposits.
Currently, global metal production from VMS deposits accounts for 22% of zinc, 9.7% of lead, 6% of
copper, 8.7% of silver and 2.2% of gold.
4
Abitibi East Project
Poly-metallic critical mineral property with additional base and precious metal potential (Ni, Cu, Pt,
Pd, Au, Zn)
Centrally located to the Timmins Mining (Au) Camp (60kms), Alexo-Dundonald (Ni-Cu-Co) deposit
(20kms), and the Kidd Creek (Cu-Zn-Pb-Ag) operating mine (50kms)
Abitibi East covers 8050 Ha on the western end of the prolific Abitibi greenstone belt
No modern exploration since 1997. Past drilling has identified both VMS style and nickel
mineralization
Historical sampling and assaying did not sample for gold and other critical elements - modern
multi-element techniques are required
References
1
digigeodata.com
2
miningdataonline.com
3
class1nickel.com
4
mining.com
Marketing & Consulting Agreement
Further to the Company's, marketing and consulting agreement (the "
Agreement
") with Hillside
Consulting and Media Inc. ("
Hillside
") announced on December 7
th
, 2023. The start date of services
under the Agreement is December 1
st
, 2023. Hillside provides SEO/PPC, email and SMS awareness,
web development, media buying and distribution services.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Freeman
Smith, P.Geo., a Qualified Person for the purposes of National Instrument 43-101.
Contact Us
For further information, interested parties are encouraged to visit the Company's website at
www.canadaonemining.com
, or contact the Company by email at
, or by phone at
1.877.844.4661.
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer
Forward-Looking Statements
This press release includes certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable Canadian securities
legislation. All statements, other than statements of historical fact, included herein, without limitation,
statements relating to the future operating or financial performance of the Company, are forward-
looking statements. Forward-Looking statements are frequently, but not always, identified by words
such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar
expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur
or be achieved. Forward-Looking statements in this press release relate to, among other things:
statements relating to the successful closing of the Offering and anticipated timing thereof and the
intended use of proceeds. Actual future results may differ materially. 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, technical, economic, and competitive 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. Such factors include, without limitation: the timing,
completion and delivery of the referenced assessments and analysis. Readers should not place
undue reliance on the forward-looking statements and information contained in this news release
concerning these times. Except as required by law, the Company does not assume any obligation to
update the forward-looking statements of beliefs, opinions, projections, or other factors, should they
change, except as required by law.
TSX Venture Exchange Disclaimer
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/191398