GoldMining Reports Infill Core Sampling at São Jorge of 1.23 g/t Over 89.0 metres Including 3.62 g/t Gold over 15.0 Metres
GoldMining Reports Infill Core Sampling at São Jorge of 1.23 g/t Over 89.0
metres Including 3.62 g/t Gold over 15.0 Metres
VANCOUVER, BC
,
Oct. 4, 2021
/CNW/ -
GoldMining Inc. (the "
Company
" or "
GoldMining
")
(TSX: GOLD) (NYSE American: GLDG) is pleased to announce
initial infill assay results from the first two holes assayed as part of an ongoing fourteen hole infill core sampling program. The confirmatory assay program targets
existing unsampled core intervals from previous drill programs at the
100% owned São Jorge property, located alongside regional highway BR-163 in the
Tapajos region, Pará State,
Brazil
(see Figures 1-3 and Tables 1-2).
GoldMining initiated a preliminary economic assessment ("PEA") at
São
Jorge on completion of a Mineral Resource estimate (see
June 1, 2021
news release).
Initial PEA work has identified opportunities to better define and expand existing mineralization, and included this infill drill core sampling program. The Company
intends to announce additional assay results from this program as it progresses.
Alastair Still
, CEO of GoldMining, commented: "This is an exciting period for GoldMining as we advance several projects, including São Jorge, towards a
preliminary economic assessment and as encountered here, the geologic results highlight the unrealized potential in our extensive portfolio of assets within the
Americas. The assay results released today on previously unsampled core has identified potential additional mineralized intervals not previously recognized or
sampled and helps support the grade and continuity of known mineralization at
São
Jorge.
Mr. Still continued: "Drill core collected by previous operators at
São
Jorge had not been continuously sampled, and we identified intervals with weak to moderate
hydrothermal alteration in areas of unsampled core from earlier drill programs. Previous sampling programs focused on strongly altered zones based on a visual
determination with limited or intermittent sampling in broader zones characterized by varying degrees of alteration and mineralization. These unsampled intervals
are the target of our infill sampling program and will help better define limits of mineralization in certain areas of the deposit."
Highlights:
Sampling has been completed on the initial 14 holes in phase 1 (see Figure 1)
More than 1,000 samples have been collected and are in varying stages of being shipped and processed by the assay lab
Results reported are from available assays for the first 2 holes
Hole SJD-058-06 includes previously unsampled intervals (see Figure 2 and Table 1):
1.23 grams per tonne ("g/t") gold over
89.0m
from
157.0m
to
246.0m
, including:
3.62 g/t gold over
14.0m
from
157.0m
to
171.0m
;
1.41 g/t gold over
7.0m
from
179.0m
to
186.0m
;
1.29 g/t gold over
5.0m
from
194.0m
to
199.0m
;
1.34 g/t gold over
10.0m
from
203.0m
to
213.0m
; and
1.04 g/t gold over
25.0m
from
221.0m
to
246.0m
.
Hole SJD-058-06 correlates well with twinned hole SJD-058A-06; both holes were collared within metres of each other (see Table 2 and 3)
New results from SJD-058-06 include
1.23 g/t gold over
89.0m
from
157.0m
to
246.0m
Previous results from SJD-058A-06 include
0.92 g/t gold over
92.1m
from
155.2m
to
247.3m
Hole SJD-094-11 includes a previously unsampled interval (see Table 1 and Figure 3):
0.68 g/t over
2.0 m
from
58.0m
to
60.0m
Results released today include an interval of weak to moderate alteration and mineralization within a previously unsampled interval from 50.0 to
70.0m
in hole
SJD-094-11 and extensive sections of SJD-058-06 from 140.0 to
259.0m
which was drilled as a twinned hole next to SJD-058A-06 with the majority of the hole
previously unsampled that contained extensive sections of strongly altered and mineralized materials that may be atypical of the remaining holes to be re-sampled.
The costs for sample preparation and assaying for this program of work is being funded using cash on hand.
Figure 1 –
Property location map showing the
São
Jorge deposit in
Pará
Sate. The 14 holes that are part of the infill sampling program are shown with the blue
coloured drill traces. The results from the first 2 holes presented in this news release are along the section lines indicated on the image and are presented in detail
in Figure 2 and Figure 3.
Figure 1 – Property location map showing the São Jorge deposit in Pará Sate. The 14 holes that are part of the infill sampling program are shown with the blue
coloured drill traces. The results from the first 2 holes presented in this news release are along the section lines indicated on the image and are presented in detail
in Figure 2 and Figure 3. www.goldmining.com (CNW Group/GoldMining Inc.)
Figure 2 –
Section 657415 facing west showing new sampling in Hole SJD-058-06 from interval 140.0-
259.0m
as well as the original twinned hole SJD-058A-06
with assay results that were already reported and included in the 2021 Mineral Resource estimate and technical report.
Figure 2 – Section 657415 facing west showing new sampling in Hole SJD-058-06 from interval 140.0-259.0m as well as the original twinned hole SJD-058A-06
with assay results that were already reported and included in the 2021 Mineral Resource estimate and technical report. (CNW Group/GoldMining Inc.)
Figure 3 –
Section 657650 facing west showing new sampling in Hole SJD-094-11 from interval 50.0-
70.0m
.
Figure 3 – Section 657650 facing west showing new sampling in Hole SJD-094-11 from interval 50.0-70.0m. (CNW Group/GoldMining Inc.)
Table 1 –
Gold assay results from previously unsampled core.
Hole ID
Interval From
(m)
Interval To
(m)
Core Length
(m)
Gold Grade
(g/t)
SJD-058-06
140.0
145.0
5.0
0.49
157.0
246.0
89.0
1.23
including
157.0
171.0
14.0
3.62
including
167.0
171.0
4.0
9.51
including
179.0
186.0
7.0
1.41
including
194.0
199.0
5.0
1.29
including
203.0
246.0
43.0
0.93
including
203.0
213.0
10.0
1.34
including
221.0
246.0
25.0
1.04
SJD-094-11
58.0
60.0
2.0
0.68
Table 2 –
Gold assay results from previously sampled core in Hole SJD-058A-06 which is a twin hole to SJD-058-06.
Hole ID
Interval From
(m)
Interval To
(m)
Core Length
(m)
Gold Grade
(g/t)
SJD-058A-06
155.20
247.30
92.10
0.92
including
174.81
193.85
19.00
0.87
including
196.85
200.85
4.00
0.59
including
204.93
213.48
8.55
2.13
including
219.83
240.30
20.47
1.85
Table 3 –
Collar coordinates from newly sampled holes and previously sampled twin hole.
Hole Number
Easting
Northing
Elevation
Depth
Azimuth
Dip
SJD-058-06
657421.61
9282882.74
214.99
259.10
180
-55
SJD-058A-06
657421.59
9282883.88
217.04
280.10
180
-55
SJD-094-11
657658.00
9282700.61
205.90
330.40
180
-55
All results are expressed as core length. There is insufficient work to confirm true thickness at this time.
Qualified Person
Paulo Pereira
, P. Geo., President of GoldMining Inc. has supervised the preparation of, and approved, the scientific and technical information contained herein.
Mr. Pereira supervised the sampling program and has verified the exploration information contained herein. Mr. Pereira is a Qualified Persons as defined in
National Instrument 43-101.
Data Verification
For this program of drill core sampling, samples were taken from the NQ/HQ core by sawing the drill core in half, with one-half sent to SGS GEOSOL
Labóratorios Ltda. ("SGS GEOSOL") and the other half retained for future reference. SGS GEOSOL is a certified commercial laboratory located in Vespasiano,
Minas Gerais,
Brazil
.
GoldMining has implemented a stringent quality assurance and quality-control (QA/QC) program for the sampling and analysis of drill core which includes insertion
of duplicates, mineralized standards and blank samples for each batch of 100 samples. The gold analyses were completed by fire-assays with an atomic
absorption finish on 50 grams of material. Repeats were carried out by fire-assay.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined
acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in
Canada
,
U.S.A.
,
Brazil
,
Colombia
, and
Peru
. The Company also owns 20 million shares of Gold Royalty Corp. (NYSE American: GROY).
Forward-looking Statements
This document contains certain forward-looking statements that reflect the current views and/or expectations of GoldMining with respect to its expectations and
ongoing and proposed work at the
São Jorge property, future
exploration and work programs
and expected completion of a PEA for the property. Forward-
looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which
GoldMining operates. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: delays to plans caused by
restrictions and other future impacts of COVID-19 or any other inability of the Company to meet expected timelines for planned project activities, including the
timing of proposed PEA and work programs; the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices,
proposed studies may not confirm GoldMining's expectations for its projects, unanticipated costs and expenses, risks related to government and environmental
regulation, social, permitting and licensing matters, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well
as others, including those set forth in GoldMiningꞌs Annual Information Form for the year ended
November 30, 2020
, and other filings with Canadian securities
regulators and the U.S. Securities and Exchange Commission, could cause actual results and events to vary significantly. Accordingly, readers should not
place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or
assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly
any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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For further information:
GoldMining Inc., Amir Adnani, Chairman; Alastair Still, CEO, Telephone: (855) 630-1001, Email: [email protected]
CO: GoldMining Inc.
CNW 07:00e 04-OCT-21