Lupaka Acquires Three Potential Gold Properties in Oregon, USA
Lupaka Acquires Three Potential Gold Properties in Oregon, USA
VANCOUVER, BRITISH COLUMBIA January 10, 2022 – Lupaka Gold Corp.
("Lupaka" or the “Company") (TSX-V: LPK, FRA: LQP) is pleased to announce
that it has acquired three potential gold properties in the state of Oregon, USA.
All three properties are in the south-east corner of the state in a similar geological
environment to the prolific Battle Mountain - Eureka trend in Northern Nevada.
One: Idol City
The Idol City property contains epigenetic gold mineralization associated with two
zones of north-east trending, hydrothermal brecciation and alteration within
Tertiary intermediate lavas that were intruded by rhyolite dikes, plugs and quartz
porphyry granitic bodies. Previous drilling by Noranda penetrated several zones
of mineralization over significant widths, including an interval of 43 meters
grading 1.37 grams of gold per tonne.
Several targets remain untested on the property, including portions of both
exposed breccias, possible unexposed breccias, structural intersections and a
hypothetical gold-rich, Au-arsenopyrite zone that might occur at depth, in a
vertically zoned system. These targets merit further investigation, including an
aggressive drilling program.
Two: Pine Creek
The property lies at the intersection of two NNW and WNW trending, regional,
structural lineaments and is underlain by a Miocene sequence of intermediate
volcanics, ash flow tuffs, tuffaceous sediments, siltstones and local (sulfide-
bearing) jasper bodies. A pronounced zone of silicification and irregular jasper
bodies occurs at the intersection of two structural lineaments. A 1989 soil survey
outlined an anomalous zone of gold and coincident molybdenum, 427 meters
long and 305 meters wide.
During the late 1980’s and 1990’s Chevron and Battle Mountain drilled ten and
nine holes, respectively, on the property. Seven of Chevron’s ten holes reported
anomalous gold. One of the Battle Mountain drill holes intersected nine meters
grading 1.20 grams of gold per tonne. Previous exploration indicates that the
area of interest may exceed 1115 hectares. This property merits further
investigation, including a systematic exploration program.
Three: Red Mountain
The Red Mountain property is located in southern Oregon, close to the Nevada
border and lies at the intersection of two major, NE and NW trending structural
lineaments; the Black Rock Structural Zone that hosts the Hog Ranch deposit
and the Orevada Rift (Carlin-Buckskin-McDermitt Trend) that hosts numerous,
well-known deposits).
Two (Tertiary age) mounds of dumbbell-shaped chalcedonic and opaline sinter
outcrop, approximately 900 meters long by 300 meters wide, are flanked by a
mixture of Quaternary alluvial sediments and extensive zones of welded, intra-
caldera tuff and flow-banded rhyolite dome facies.
Geologic mapping and geochemical surveys conducted by a previous owner
have demonstrated anomalous values for mercury, arsenic and gold in a hot-
spring-type chalcedonic /opaline sinter on the edge of a caldera, at the
intersection of two major structural lineaments. This property merits further
investigation to define and explore hot spring-type targets, analogous to the Hog
Ranch Mine Caldera environment.
All three properties are held in the name of the Company’s wholly-owned US
subsidiary, Lupaka USA Limited. These properties were acquired through a
staking process for nominal cash costs. The staking was undertaken by High
Calibre Exploration & Development Ltd. (“High Calibre”), which is contracted by
the Company to provide consulting geologist and QP services. Additionally, High
Calibre is entitled to finders’ fee compensation should any of these properties be
sold by the Company.
Qualified Person
William Burstow, a Qualified Person as defined by National Instrument 43-101
Standards of Disclosure for Mineral Projects, has read and approved all technical
and scientific information contained in this news release. Mr. Burstow is the
owner of High Calibre.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
the term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy of this news release.
About Lupaka Gold
Lupaka is an active Canadian-based company focused on creating shareholder
value through identification and development of mining assets.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gordon Ellis, C.E.O.
Tel: (604) 985-3147
or visit the Company’s profile at www.sedar.com or its website at www.lupakagold.com