Golden Pursuit Completes 2024 Exploration Program at the Gordon Lake Project, Northwest Territories
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Golden Pursuit Completes 2024 Exploration Program
at the Gordon Lake Project, Northwest Territories
Vancouver, B.C. September 16, 2024: Golden Pursuit Resources Ltd. (TSX-V: GDP) is pleased
to announce the successful completion of the 2024 exploration program at its properties located
in the high-grade Gordon Lake gold mining district of Canada's Northwest Territories.
Highlights
• This summer, the company conducted detailed structural geology mapping and rock
sampling at several of our properties , including Kidney Pond, Lynk, Zenith Island,
Camlaren, Burnt Island, Goodrock, and Storm. This field program focused on measuring
the structures and collecting rock samples to explore high -grade zones, near-surface
mineralization, and new exploration targets. Specifically at Kidney Pond, 30 channel
samples were collected to understand better the distribution and continuity of gold along
mineralized veins, walls, and host rocks. The work will be compiled using Leapfrog
modeling software to design and prioritize future drilling in the developed zones of
mineralization.
• Induced Polarization (IP) and Magnetics Geophysical Survey: A 250-meter-spaced
survey of 12 linear kilometers was performed on the company properties. An 8 linear -
kilometer survey (distributed in 7 lines) was focused on detailed targeting of anomalies at
Kidney Pond. Additionally, six exploratory lines were surveyed, two on each of the Zenith
Island, Camlaren, and Burnt Island properties, for 13 surveyed IP geophysical lines.
Induced Polarization (IP) and magnetics geophysical survey data have been processed to
delineate high-priority drill targets.
• Project-wide Photogrammetry Survey completed: A large photogrammetry survey was
completed across the entire project area, providing high-resolution (up to 3 cm spatial
resolution) 3D wireframe mesh data for our geological modeling and project planning.
• Assay and Multi-Element Geochemical Analyses underway: Rock samples were sent
to the ALS laboratory in Yellowknife for assay and geochemical analyses. Results are
expected for October 2024. These assay results should provide important information for
follow-up targeting and drill hole planning.
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Figure 1: Gordon Lake Project location.
2024 Exploration Program
The 2024 exploration program at the Gordon Lake Project (Figure 1) was designed to build on
historical high-grade results and mine operations where previous drilling intersected significant
gold mineralization. Further drilling will focus on confirmation and step-out drilling to enhance
geological understanding and test new targets identified through geophysical and geochemical
surveys.
Introduction
The 2024 exploration program focused on two main objectives (Figure 2):
1. Detailed geological-structural mapping and extension of known mineralized zones:
Extensive geological structural mapping targeted high-grade, near-surface gold
mineralization. The mapping program consisted of both confirmation and step-out areas
designed to test the continuity of mineralization along strike and better understand the
structural patterns.
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2. Induced Polarization and Magnetics Surveys: detailed survey at Kidney Pond and
exploratory surveys at the former producing mines: New geophysical Induced
Polarization and magnetics survey also investigated in detail the Kidney Pond area, as
well as exploratory survey at the historic producing areas as Zenith Island, Camlaren, and
Burnt Island Mines. These areas have seen extensive exploration and gold production in
the past and are interpreted to have significant potential for new discoveries. Targets that
exhibited similar geological characteristics to the known mineralized zones, with the
potential to host orogenic-related gold mineralization, were prioritized.
Detailed Structural Geology Mapping and Rock Sampling
Golden Pursuit completed detailed geological structural mapping and rock sampling over an area
of over 6,850 sq. metres. The 2024 field season included an extensive surface sample program,
with 80 rock samples collected including 30 channel samples at Kidney Pond, but also on the Lynk,
Zenith Island, Camlaren, Burnt Island, Goodrock and Storm properties.
Primary focus was on the Kidney Pond area, where geological mapping centred on understanding
the structural controls on mineralization and rock and channel sampling was designed to fill gaps
in historical data and provide a more detailed geochemical understanding of gold distribution to
refine future drillhole planning.
Induced Polarization (IP) and Magnetic Geophysical Survey
A 12-kilometre line IP and magnetic geophysical survey was also conducted at Gordon Lake
(Figure 2) to enhance the understanding of subsurface geology and to identify geophysical
anomalies that could indicate high-chargeability zones of gold mineralization with associated
sulfides. At Kidney Pond, the tightly spaced (250-meter spacing) seven (7) IP lines were designed
to map in detail the extent of orogenic gold mineralization distribution and to identify new drill
targets proximal to the main zone. Additional six regional explorator y geophysical surveys,
including IP and magnetics, were conducted along two lines in each property at Zenith Island,
Camlaren and Burnt Island properties. This resulted in a total of 13 geophysical lines. The
preliminary results identified multiple potential drill targets.
Photogrammetry Survey
Golden Pursuit completed a property-wide photogrammetry survey to complement ground-based
exploration efforts. This high-resolution (up to 3 cm spatial resolution) survey, which included
aerial photography, provided detailed topographic data and terrain models processed into 3D
wireframes meshes. These data will assist in geological interpretation and structure delineation,
and used for geological 3D modeling, project planning and drillhole target refinement.
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Figure 2: Gordon Lake Project 2024 Exploration Program.
Kidney Pond (A), Burnt Island (B), and Zenith Island and Camlaren (C) properties.
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Community Engagement
Golden Pursuit engages with First Nations organizations on whose territory its projects are located
and with the Government of the Northwest Territories for their strategic interests, as well as to
discuss opportunities to support community initiatives. The Company looks forward to continuing
to work with local and regional First Nations in all its future exploration programs.
About the Gordon Lake Project
The Gordon Lake Project is located approximately 80-90km northeast of Yellowknife, NWT, and
it hosts numerous gold showings, with several having seen varying degrees of exploration work,
including drilling, underground development, and mining from 1937 to the late 1980s.
The Gordon Lake Project (“Property”) consists of 18 territorial and 13 federal claims and 4
historical mining leases totaling just over 6850 hectares. Golden Pursuit owns all claims and
leases 100%.
The Gordon Lake Project is located on the Slave Structural Province in the northwestern
Canadian Shield, comprising an Archean granite-greenstone craton. The Slave Province is
comprised of granite-gneiss basement, supracrustal metavolcanic-metasedimentary rocks of the
Yellowknife Supergroup and younger granitoid complexes. The Yellowknife Supergroup consists
predominantly of the Burwash Formation metaturbidite deposits with flanking, older metavolcanics
along basinal edges. Many gold quartz veins are within the Burwash metaturbidite formation and
occur as single veins or vein-swarm systems. In addition to the veins found at Gordon Lake,
metre-scale zones of quartz breccia occur.
About Golden Pursuit Resources
Golden Pursuit Resources is a company focused on gold exploration. The company owns
deposits and prospects in the Northwest Territories (Canada) and Nevada (United States). All
projects are 100% owned with no encumbrances or third-party obligations except for royalties on
two purchased claim groups in the NWT.
Both land and water use permits are in place on the Gordon Lake, NWT project , allowing for
exploration and development until 2030. The company owns 11 distinct properties that have
undergone exploration, development, and mining since the 1930s. Five of the deposits have been
classified as “former producers” by the NWT government. Golden Pursuit has conducted
extensive exploration since 2021; assay results will be announced about this year's exploration
as they are received.
Further details are available at www.goldpursuit.ca.
Link to Figures
Figure 1: https://www.goldpursuit.ca
Figure 2: https://www.goldpursuit.ca
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On behalf of the Board of Directors
Brian McClay
For further information, contact:
Brian McClay
CEO & President
Cleber Peralta
COO & Director
Tel. 604-730-6982
Forward Looking Information
Statements contained in this news release that are not historical facts may be forward-looking statements,
which involve risks, uncertainties and other factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements. In addition, the forward-looking statements
require management to make assumptions and are subject to inherent risks and uncertainties. There is
significant risk that the forward-looking statements will not prove to be accurate, that the management’s
assumptions may not be correct and that actual results may differ materially from such forward-looking
statements. Accordingly, readers should not place undue reliance on the forward -looking statements.
Generally forward-looking statements can be identified using terminology such as “anticipate”, “will”,
“expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions.
Forward-looking statements contained in this press release may include, but are not limited to, potential
mineralization, exploration plans, and engagement with First Nations communities. These forward-looking
statements are based on a number of assumptions which may prove to be incorrect which, without limiting
the generality of the following, include: risks inherent in exploration activities; the impact of exploration
competition; unexpected geological or hydrological conditions; changes in government regulations and
policies, including trade laws and policies; failure to obtain necessary permits and approvals from
government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market
fluctuations; the ability to raise funds through private or public equity financings; environmental and safety
risks including increased regulatory burdens; weather and other natural phenomena; and other exploration,
development, operating, financial market and regulatory risks. The forward-looking statements contained
in this press release are made as of the date hereof or the dates specifically referenced in this press release,
where applicable. Except as required by applicable securities laws and regulation, Golden Pursuit disclaims
any intention or obligation to update or revise any forward-looking statement, whether because of new
information, future events or otherwise, except as required by applicable securities laws. All forward-looking
statements contained in this press release are expressly qualified by this cautionary statement.
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