New Destiny Mining - Drilling Update: Holes TMN24-04 and TMN24-05 at Treasure Mountain Silver Property, Hope BC
New Destiny Mining - Drilling Update: Holes
TMN24-04 and TMN24-05 at Treasure Mountain
Silver Property, Hope BC
Vancouver, British Columbia--(Newsfile Corp. - August 13, 2024) -
New Destiny Mining Corp. (TSXV:
NED)
, (the "
Company
" or "
NED
") provides the following update on its 2024 exploration program at the
Treasure Mountain project, near Princeton, BC.
Copper mineralization on hole TMN24-04 (from 13.61 to 14.17 m). A) Hydrothermally altered and
banded volcanic unit with gray silica, chalcopyrite, and pyrite in bands. B) Disseminated network
textured chalcopyrite in bands with pyrite and sphalerite within a volcanic unit.
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Drilling continues at the Railroad copper-silver zone from the Treasure Mountain property. Hole TMN24-
04 was designed to test the extension of the mineralized zone at the Railroad zone. TMN24-04
intersected an altered and banded volcanic unit from 13.61 to 14.17 meters depth (0.56 meters core
length) with gray silica, chalcopyrite, and pyrite (see photo A) as well as a zone with a network textured
chalcopyrite in bands with minor pyrite and sphalerite (see photo B). The true width of the mineralized
zone is not known because the geometry of the Railroad mineralized zone is not fully understood. In any
case, this intersection is interpreted as an extension of the Railroad mineralized zone along strike to the
south.
Drill hole TMN24-05 was aimed to test the extension further to the south and at depth and intersected
(from 34.66 to 40.75 m) a zone of white to pale green quartz-sericite altered porphyritic intrusive rock
with disseminated pyrite and quartz-pyrite veinlets.
The next hole will aim to test a regional magnetic anomaly that is located towards the north of the
Railroad zone. The purpose of the hole is to look for a potential porphyry intrusive that can be the feeder
to the copper mineralization that has been discovered so far.
The Treasure Mountain property covers 10,819 hectares and is located 38 km west of the Copper
Mountain mine at Princeton in southern BC.
Targets on the property include critical minerals in porphyry
copper-moly deposits, and gold-quartz vein and polymetallic silver-rich vein deposits.
Map showing Treasure Mountain property and targets for 2024
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Readers are cautioned that historical records referred to in this News Release have been examined but
not verified by a Qualified Person. Further work is required to verify that historical records referred to in
this News Release are accurate.
Dr. Mathew Ball, P.Geo., a Qualified Person as defined by NI 43-101 and consultant to the Company,
approved the technical information contained in this News Release.
ON BEHALF OF THE BOARD OF DIRECTORS
"Al Beaton"
Director
604-488-3900
Investor Relations:
Lubica Parilakova
>> Corporate Powerpoint available upon request
Forward-Looking Information
This news release includes certain statements that constitute "forward-looking information" within the
meaning of applicable securities law, including without limitation, the Company's information and
statements regarding or inferring the future business, operations, financial performance, prospects, and
other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include
statements regarding the completion of the proposed transactions. Forward-looking statements address
future events and conditions and are necessarily based upon a number of estimates and assumptions.
These statements relate to analyses and other information that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of management. Any statements that
express or involve discussions with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but not always, using words or phrases
such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans",
"estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not
statements of historical fact and may be forward-looking statements. Forward-looking statements are
necessarily based upon several factors that, if untrue, could cause the actual results, performances or
achievements of the Company to be materially different from future results, performances or
achievements express or implied by such statements. Such statements and information are based on
numerous assumptions regarding present and future business strategies and the environment in which
the Company will operate in the future, including the price of gold and other metals, anticipated costs and
the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While
such estimates and assumptions are considered reasonable by the management of the Company, they
are inherently subject to significant business, economic, competitive and regulatory uncertainties and
risks including that resource exploration and development is a speculative business; that environmental
laws and regulations may become more onerous; that the Company may not be able to raise additional
funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or
mining results will not be consistent with the Company's expectations; operating hazards and risks; and
competition. There can be no assurance that economic resources will be discovered or developed.
Accordingly, actual results may differ materially from those currently anticipated in such statements.
Factors that could cause actual results to differ materially from those in forward looking statements
include continued availability of capital and financing and general economic, market or business
conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation,
competition, fees charged by service providers and failure of counterparties to perform their contractual
obligations. Investors are cautioned that forward-looking statements are not guarantees of future
performance or events and, accordingly are cautioned not to put undue reliance on forward-looking
statements due to the inherent uncertainty of such statements. The forward-looking statements included
in this news release are made as of the date hereof and the Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by applicable securities legislation.
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
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