55 North Mining Inc. intersects 7.59 g/t Au over 7 metres
55 North Mining Inc. intersects 7.59 g/t Au over 7 metres
Toronto, Ontario - April 27, 2021 - 55 North Mining Inc. (CSE:FFF) (“55 North” or the
“Company”) is pleased to announce assay results from its first 5 holes of an ongoing diamond
drill program at its high-grade Last Hope Gold Project, located 20 km south of Alamos’ Lynn Lake
Gold Project in Manitoba.
Highlights - New parallel en-echelon zones identified
• 7.59 g/t over 7.0 m in hole LH-20-03.
• 6.76 g/t over 5.2 m in hole LH-20-05.
• 4.63 g/t over 7.0 m in hole LH-20-02.
Bruce Reid, President and Chief Executive Officer commented “These high-grade results, with
good widths plus the identification of 3-4 new parallel zones, indicate the excellent potential to
grow the resource at the Last Hope Gold Project. This project is strategically located in close
proximity to Alamos’ Lynn Lake Gold Project, currently in the permitting phase. Our fully funded
drill program is continuing, and we will release results as they become available.”
Discussion of Drill Results
Table 1: Results from All 5 drill holes drilled in 2020
Drill Hole From
(m)
To
(m)
Length
(m)
Au
(g/t)
LH-20-01 No Significant Values
LH-20-02 98.50 111.40 12.90 2.69
Incl. 100.00 107.00 7.00 4.63
LH-20-03 135.00 142.00 7.00 7.59
LH-20-04 149.00 156.00 7.00 2.17
and 159.00 161.00 2.00 1.89
and 165.00 168.00 3.00 3.42
LH-20-05 91.00 93.00 2.00 1.87
and 146.50 151.70 5.20 6.76
Note:
1. All holes drilled at an azimuth of 45 degrees and a dip angle of -58 to - 72 degrees.
2. True widths are estimated at 75% of drilled length.
Drillhole assay results:
Extended high grade shoot mineralization up plunge: LH20-03: 7.59 g/t over 7.0m, LH20-05:
6.76 g/t over 5.2m, LH20-04: 3.42 g/t over 3.0m.
Extended shallow higher grade mineralization along strike : LH20-02: 2.69 g/t over 12.9m,
LH20-04: 2.17 g/t over 7.0m.
Will be additive to the existing resource estimate: Holes 2 through 5 will potentially add ounces
to our existing NI 43-101 resource estimate.
Figure 1 illustrates drillhole pierce points on a long section of the current resource estimate
(Appendix “A”).
Figure 2 is a Plan View showing drillhole collars locations and drillhole traces (Appendix “B”).
The Last Hope deposit is a Lode Gold Deposit located in northe rn Manitoba, and is situated
approximately 5 km south of the southern portion of the Lynn Lake Greenstone Belt within the
Churchill Province of the Canadian Shield. Gold mineralization occurs associated with sulphides
within at least 2 shallow plunging or e shoots in a NW-SE strike (for over 500 metres). The Last
Hope deposit is the subject of a February 2021 NI 43 -101 compliant resource estimate (cut -off
grade of 1.8 g/t) of Indicated: 213,000 tonnes grading 5.53 g/t for 37,966 ounces Au, Inferred:
1,107,000 tonnes grading 5.17 g/t for 184,120 ounces (see press release dated April 19, 2021).
The drillholes reported here are a part of an exploration/development program designed to
infill/upgrade within the existing res ource estimate limits and secondly to expand the resource
beyond the current limits of the existing resource. To date four of five holes intersected significant
gold values in disseminated and fracture -controlled veinlets of sulphide mineralization. The
sulphide mineralization (primarily pyrite/pyrrhotite with minor chalcopyrite/sphalerite ) can be
found in both quartz veins and in the moderately to strongly foliated amphibolite (possible basaltic
protolith) which hosts both the sulphides and the quartz veins. This style of gold mineralization is
consistent with gold mineralization in the past producing MacLellan and Burnt Timber deposits,
part of Alamos’ ongoing Lynn Lake Gold Project.
The drilling results indicated above confirms the shallowly plunging high grade zones suggested
in previous models. In addition, a detailed review of the historic data as it relates to th is recent
drilling suggests the existence of multiple steeply dipping en -echelon zones. These Phase 1
results continue to build on the existing resource by filling in areas with limited or no data.
The current ongoing Phase 1 program will focus on continuing to enhance the resource model
and also on providing potential targets outside of the current resource for the Phase 2 expansion
of the resource.
QA/QC protocols
The drilled core is cut in half with the cut sample being placed in a bag which is sealed and
transported to TSL labs in Saskatoon. A certified standard with low grade, mid -grade and high-
grade gold values that approximates the lithology of the submitted sample is placed with random
grade values in the sample stream every 10 samples. A certified blank standard is placed in the
sample stream every 30 samples and a field duplicate is placed in the sample stream every 20
samples. In addition, TSL labs maintains their own QA/QC protocols consisting of selected
resampling of the submitted samples and the insertion of 6 internal standards.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Peter
Karelse, VP Exploration and a Qualified Person as defined under National Instrument 43-101. Mr.
Karelse consents to the publication of this announcement dated April 27, 2021, by 55 North Mining
Inc. Mr. Karelse certifies that this announcement fairly and accurately represents the information
for which he is responsible.
About 55 North Mining Inc.
55 North Mining Inc. is an exploration and development company advancing its high-grade Last
Hope Gold Project located in Manitoba, Canada.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of 55 North contains statements that constitute “forward-looking statements.”
Such forward-looking statements involve 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 statements.
.
Appendix "A"
Appendix "B"