Goldstorm Metals Drills 57.34 g/t Gold with 214.27 g/t Silver over 2.10 Meters Including 233.5 g/t Gold with 756.0 g/t Silver over 0.5 Meters in Near-Surface Intercept at the Electrum Property, in Northwestern British Columbia
Goldstorm Metals Drills 57.34 g/t Gold with
214.27 g/t Silver over 2.10 Meters Including
233.5 g/t Gold with 756.0 g/t Silver over 0.5
Meters in Near-Surface Intercept at the
Electrum Property, in Northwestern British
Columbia
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2023) - Goldstorm Metals Corp. (TSXV:
GSTM) (FSE: B2U) ("
Goldstorm
" or "
the Company
") is pleased to report the results from the final nine
holes of the 2023 diamond drill exploration program (the "
Program
") on its 100% owned Electrum gold -
silver property (the "
Property
"), located within the Golden Triangle region of British Columbia, Canada.
The Property is located immediately north of Scottie Resources' claims, and along a well-defined trend
of former gold-silver producers that includes Ascot's Premier Mine to the south. The project area is road
accessible from Stewart, BC. The Program at Electrum totaled 2,581 meters (m) in 11 drill holes that
tested epithermal veins hosting precious and base-metal mineralization.
Ken Konkin P. Geo., President and CEO comments
; "We are extremely pleased to announce the
results from high-grade gold and silver intersections within sub-parallel polymetallic breccia and
stockwork zones at our Electrum Project. The precious and base-metal mineralization encountered may
be an extension to the bulk-tonnage Au-Ag veinlet system reported in our first Press Release dated
October 4
th
, 2023. Our technical team believes that the hydrothermal veining may be related to an
underlying porphyry system and that the high-grade components are possibly a late-stage event. We
appear to have two distinct pulses of veining, the near-surface event is a silver-dominant lead-zinc
system with minor gold while a deeper pulse is a gold-silver event. Given the success of these first set of
drill holes at Electrum, we plan to return to these multi-phase targets with particular attention given to the
larger bulk-tonnage gold-silver veinlet stockwork system encountered in the first two drill holes of the
program, holes EZ-23-01 and EZ-23-02. We expect to build on the success of these holes and the high-
grade gold-silver intercepts within EZ-23-08 and EZ-23-11 for the 2024 exploration season. In-addition,
reconnaissance prospecting-mapping crews were equally successful in making significant precious and
base-metal discoveries throughout the Crown Claim group northwest of the Electrum Property. News
releases presenting these results will be forthcoming shortly, pending final assays."
Drill Hole Results
Click to view
plan map and cross sections
.
Section A
EZ-23-03:
Intersected 0.51 m of 1.29 g/t Au, 266.00 Ag, 3.14 % Pb, and 2.44 % Zn within 3.02 m of 0.73
g/t Au, 105.64 g/t Ag, 0.78 % Pb, 1.04 % Zn, at 4.98 m down hole in an epithermal-style quartz-sulphide
vein.
EZ-23-04:
Intersected 3.05 m of 0.89 g/t Au, 125.31 g/t Ag, 0.48 % Pb, and 0.95 % Zn, at 6.20 m down
hole, in the same epithermal vein seen in EZ-23-03.
EZ-23-05:
Intersected 1.90 m of 2.47 g/t Au, 126.00 g/t Ag, 0.36 % Pb, and 0.38 % Zn at 31.15 m down
hole, in an epithermal vein.
EZ-23-06:
Intersected 0.65 m of 0.81 g/t Au, 44.66 g/t Ag, 0.57 % Pb, and 1.04 % Zn at 28.2 m down
hole, in an epithermal vein.
EZ-23-07:
Intersected 1.55 g/t of 5.17 g/t Au, 68.02 g/t Ag, 0.32 % Pb, and 1.04 % Zn at 29.40 m down
hole, in an epithermal vein.
Section B
EZ-23-08:
Intersected 0.50 m 233.50 g/t Au and 756 g/t Ag within 4.50 m grading 27.00 g/t Au and
111.09 g/t Ag at 8.0 m down hole, in a series of epithermal veins. Further down hole, 1.50 m of 4.59 g/t
Au, 234.00 g/t Ag, 0.39 % Pb, and 0.46% Zn was intersected in an epithermal vein.
EZ-23-09:
Intersected 1.50 m of 0.98 g/t Au and 46.79 g/t Ag at 100.50 m down hole, in an epithermal
vein.
EZ-23-10:
Intersected 1.50 m of 0.19 g/t Au and 66.99 g/t Ag at 6.00 m down hole, in an epithermal vein.
Section C
EZ-23-11:
Intersected 1.75 m of 8.70 g/t Au, 238.00 g/t Ag, 0.15 % Pb, and 0.39 % Zn within 17.75 m
grading 1.17 g/t Au, 29.40 g/t Ag, 0.05 % Pb, and 0.30 % Zn at 107.25 m down hole in epithermal
veining and breccia.
Table 1: Drilling Results for the Electrum Property in Press Release November 14, 2023
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
Pb (%)
Zn (%)
EL-23-03
4.98
8.00
3.02
0.73
105.64
0.78
1.04
including
6.38
8.00
1.62
0.95
165.28
1.07
0.92
including
6.38
6.89
0.51
1.29
266.00
3.14
2.44
and
99.00
100.50
1.50
0.17
88.80
0.02
0.05
and
132.00
133.50
1.50
0.52
25.78
0.10
0.13
and
386.70
387.20
0.50
0.18
63.70
0.12
0.31
and
400.50
402.00
1.50
0.21
31.89
0.22
0.47
EL-23-04
6.20
9.25
3.05
0.89
125.31
0.48
0.95
including
6.20
7.75
1.55
0.82
171.00
0.91
1.74
and
152.80
154.00
1.20
0.37
65.35
1.31
1.75
EL-23-05
30.00
33.05
3.05
1.65
89.02
0.23
0.25
including
31.15
33.05
1.90
2.47
126.00
0.36
0.38
EL-23-06
28.20
28.85
0.65
0.81
44.66
0.57
1.04
EL-23-07
29.40
30.95
1.55
5.17
68.02
0.32
0.44
EL-23-08
8.00
12.50
4.50
27.00
111.09
0.10
0.09
including
10.40
12.50
2.10
57.34
214.27
0.19
0.16
including
12.00
12.50
0.50
233.50
756.00
0.73
0.51
and
132.00
147.00
15.00
2.78
43.97
0.01
0.03
including
139.50
141.00
1.50
0.29
405.00
0.02
0.05
including
146.50
147.00
0.50
75.30
19.27
0.00
0.01
and
160.50
162.00
1.50
0.78
58.10
0.09
0.17
and
225.00
226.50
1.50
4.59
234.00
0.39
0.46
EL-23-09
8.50
10.00
1.50
1.21
32.07
0.01
0.01
and
36.00
37.50
1.50
1.38
6.97
0.01
0.02
and
100.50
102.00
1.50
0.98
46.79
0.09
0.09
and
180.00
181.50
1.50
1.03
6.05
0.02
0.10
EL-23-10
6.00
12.00
6.00
0.23
26.77
0.01
0.05
including
7.50
9.00
1.50
0.19
66.99
0.01
0.03
EL-23-11
107.25
125.00
17.75
1.17
29.40
0.05
0.30
including
107.25
114.60
7.35
2.28
67.86
0.10
0.68
including
107.25
109.00
1.75
8.70
238.00
0.15
0.39
All assay values are uncut and intervals reflect drilled intercept lengths.
HQ diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals.
True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the
mineralized body orientation and true widths.
Table 2: Drill data for holes in Press Release November 14, 2023
Hole ID
UTM E NAD
83
UTM N NAD
83
Elevation (m)
Azi (ᵒ)
Dip (ᵒ)
Depth (m)
EL-23-003
433825
6238095
757
20
-45
507
EL-23-004
433825
6238095
757
20
-88
224
EL-23-005
433826
6238116
758
10
-26
51
EL-23-006
433826
6238116
758
10
-38
51
EL-23-007
433826
6238116
758
24
-30
51
EL-23-008
433876
6238063
736
20
-45
291
EL-23-009
433876
6238063
736
20
-63
218
EL-23-010
433876
6238063
736
40
-55
51
EL-23-011
434058
6238063
646
42
-55
260
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the
Company's President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and
technical information that forms the basis for the disclosure contained in this news release.
QA/QC
Diamond drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and
assayed at MSA Labs' Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are
monitored by the submission of blanks, certified standards and duplicate samples inserted at regular
intervals into the sample stream by Goldstorm Metals personnel. MSA Laboratories quality system
complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is
independent of the Company.
About the Electrum Project
The Electrum Property is located directly between Newmont Corporation's Brucejack Mine,
approximately 20 kilometers (km) to the north, and the past producing Silbak Premier mine, 20 km to the
south.
Click to view the location map
.
Mineralization at Electrum is controlled by two major fault lines that locally host bonanza gold grades,
along with broader stockwork zones, within a complex geological model. Similar to the nearby Brucejack
Mine, gold and silver mineralization occurs as coarse electrum in several generations of quartz-
carbonate veins and vein breccias hosted within a deformed volcanic-sedimentary sequence.
Intermediate-to-low sulphidation gold and silver mineralization is present in many of the veins,
accompanied by pyrite, sphalerite, galena and chalcopyrite. Precious metal mineralized veins have been
traced on surface over lengths of several tens of meters to more than a hundred meters, pinching and
swelling along strike.
Much of the work at Electrum to date has tested extensions of known epithermal
veins that have returned several high silver and gold values from limited underground mining and trench
exposures.
Drilling by previous operators encountered gold-silver mineralization at depths of more than 200 meters
from surface with several holes intersecting relatively wide zones containing narrow quartz-sulfide
stockwork veins that returned moderate precious metal values. These intercepts are located beneath
surface exposures that were subsequently blasted, trenched and bulk sampled in an area referred to as
the New Blast Zone in 2016 by Tudor Gold (2016 Assessment Report on the Electrum Property, Skeena
M.D., BC.171029). Here, a 3.8 tonne bulk sample that was collected from a 5-meter-wide zone
averaged 2.82 g/t gold, 539.0 g/t silver, 1.96 % lead and 1.97 % zinc. Localized veins, found within some
of the wider drill intervals, contain electrum and silver sulfosalt minerals that have returned much higher
silver and gold values over narrow widths.
In addition to high grade gold and silver mineralization targets, Electrum hosts untested geophysical
anomalies at depth beneath the main vein zones, as well as an area at the south end of Electrum that
shows evidence of potential porphyry-style mineralization.
About Goldstorm Metals
Goldstorm Metals Corp. is a precious and base metals exploration company with a large strategic land
position in the Golden Triangle of British Columbia, an area that hosts some of the largest and highest-
grade gold deposits in the world. Goldstorm's flagship projects Crown and Electrum cover an area that
totals approximately 16,469 hectares over 7 concessions, of which 6 are contiguous.
The Crown Project
is situated directly south of Seabridge Gold's KSM gold-copper deposits and Newcrest Gold's
Brucejack/Valley of the Kings gold mine.
Electrum, also located in the Golden Triangle of BC, is situated
directly between Newmont Corporation's Brucejack Mine, approximately 20 kilometers to the north, and
the past producing Silbak Premier mine, 20 kilometers to the south.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDSTORM METALS CORP.
"
Ken Konkin
"
Ken Konkin
President and Chief Executive Officer
For further information, please visit the Company's website at
https://goldstormmetals.com/
or
contact:
Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail:
or
Carsten Ringler
Head of Investor Relations and Communications
Phone:
+49 151 55362000
E-Mail:
Neither 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.
Cautionary Statement Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. All statements in this news
release, other than statements of historical facts, including statements regarding future estimates,
plans, objectives, timing, assumptions or expectations of future performance, including without
limitation, the statement regarding the expectation geologists are expected to complete a compilation
study this winter once all assay results are received. Such statement is forward-looking and contains
forward-looking information.
Generally, forward-looking statements and information can be identified by the use of forward-looking
terminology such as "intends" or "anticipates", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking
statements are based on certain material assumptions and analysis made by Goldstorm and the
opinions and estimates of management as of the date of this press release, including that geologists
will complete a compilation study this winter once all assay results are received.
These forward-looking statements are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Goldstorm
to be materially different from those expressed or implied by such forward-looking statements or
forward-looking information. Important factors that may cause actual results to vary, include, without
limitation that geologists will not complete a compilation study this winter or at all.
Although management of Goldstorm has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements and forward-looking
information. Readers are cautioned that reliance on such information may not be appropriate for other
purposes. Goldstorm does not undertake to update any forward-looking statement, forward-looking
information or financial out-look that are incorporated by reference herein, except in accordance with
applicable securities laws.
Electrum Project - Region Area – Plan View
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Sections Areas – Plan View
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Section A – Viewing Northwest
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Section B – Viewing Northwest
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Section C – Viewing Northwest
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To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/187226