New Destiny Mining Treasure Mountain Silver
New Destiny Mining Treasure Mountain Silver
- Fully Permitted - Drilling & Trenching 2024
Exploration Program Underway Now
Vancouver, British Columbia--(Newsfile Corp. - June 28, 2024) -
New Destiny Mining Corp. (TSXV:
NED)
, (the "
Company
" or "
NED
") announces it is preparing to start the 2024 exploration program at its
Treasure Mountain project, near Hope, BC.
Map showing Treasure Mountain property and targets for 2024
.
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"We are excited to commence our 2024 exploration program at the Treasure Mountain project.
With the recent repair of the access road and the promising results from our previous surveys,
we are optimistic about uncovering significant mineral deposits. This year's focus on the
Railroad, David, and Jim Kelly occurrences, along with our efforts at the Superior, Well, and Rio
Grande targets, underscores our commitment to advancing this project and creating value for
our shareholders,"
states
Barry Brown, Director of New Destiny Mining Corp.
About Treasure Mountain Property
The Treasure Mountain property covers 10,819 hectares and is situated 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.
The property surrounds the former Treasure Mountain or Huldra silver mine and is fully permitted for
exploration drilling and trenching. Exploration was curtailed due to a wash-out of the access road caused
by the 2021 BC atmospheric river event, but the road has now been repaired.
An airborne LIDAR survey
was flown over the entire property to provide support for field exploration.
An airborne magnetic survey is
being considered this year to locate delineate porphyry-related source intrusions and outline magnetic
anomalies related to mineralization.
About Treasure Mountain Exploration Program
The 2024 program will focus on the Railroad, David and Jim Kelly occurrences, with secondary attention
directed to the Superior, Well and Rio Grande occurrences.
Railroad is copper-silver mineralized zone hosted in quartz sericite schist exposed in historic
adits.
The occurrence is spatially related to a regional magnetic survey anomaly that is interpreted
to be a concealed porphyry intrusion.
In 2019, a 1.7 metre wide sample across the zone returned
values of 1.06% copper and 264 grams per tonne silver.
The weighted average grades for
consecutive mineralized samples over a 4.2 metre width are 0.64% copper and 116.0 ppm silver.
Plans are to drill test the zone and to explore for a northern extension using soil geochemistry and
ground geophysics.
Hand sample showing chalcopyrite-pyrite mineralization at the Railroad occurrence.
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Photo showing samples being collected over the alteration zone at Railroad.
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The David prospect was explored historically for porphyry-style copper mineralization.
Mineralization consists of disseminated and fracture-filling pyrite, chalcopyrite and pyrrhotite,
hosted by a chloritized diorite to hornblendite.
Elevated nickel values are reported in association
with the Main zone. In 1966, surface sampling of the Main zone yielded up to 0.20 per cent copper,
2.4 grams per tonne silver, and 0.31 per cent nickel over 29.26 metres.
Diamond drilling in 1966
yielded intercepts of up to 0.56 per cent copper over 6.0 metres, 0.25 per cent copper over 9.0
metres in drill hole 3, and 0.12 per cent copper over 18 metres in drill hole 1, all from the Northwest
zone. Plans for 2024 are to re-locate and sample the exposed showings and evaluate the potential
for porphyry copper and nickel-copper sulphide mineralization.
Jim Kelly Creek is a gold vein target.
A 2018 grab sample returned a result of 11.3 grams per
tonne gold. Plans are to expose the vein by trenching and then test it by drilling.
Geochemical
surveys are also being planned.
Superior is a porphyry copper-molybdenum target.
Copper-gold mineralization was identified in
multiple quartz veinlets in 2019 trenches.
Rock geochemical values for gold ranged up to 1.96
ppm, copper up to 250 ppm, and molybdenum up to 354 ppm.
A grab sample of selected
mineralized quartz contained 3.99 ppm gold, 96.8 ppm silver, 3560 ppm copper and 45.1 ppm
molybdenum.
Superior was tested in 2019 by four short diamond drill holes that penetrated less than 30 meters
depth.
Quartz veinlets mineralized with pyrite and chalcopyrite were intersected.
Analytical results
showed elevated copper and molybdenum values, with copper ranging up to 833 ppm and
molybdenum ranging up to 88.3 ppm.
The source intrusion related to the copper-gold-molybdenum
mineralization has yet to be identified.
The Well porphyry Cu-Mo target in the southeastern corner of the property consists of pyrite,
chalcopyrite and molybdenite in quartz veins hosted within granodiorite of the Eagle Plutonic
Complex. Mineralization is spatially associated with late stage differentiates, including pegmatite,
aplite, microgranite and monzonite bodies. Previous surface samples yielded up to 3 wt.% Mo and
average 0.5 wt.%. Historic samples from the Wel 11-12 and Wel 15-16 yielded 0.48 to 0.89 wt.%
Cu, 5.2 to 36 g/t Ag, and 0.075 to 0.46 g/t Au. For 2024, Verification sampling will be done, and
possibly trenching to expose and extend the known mineral occurrences.
The Rio Grande is a silver-rich polymetallic vein target with similarities to the nearby former Huldra
silver mine.
2018 rock grab sample results ranged up to 122 grams per tonne silver, 0.4 % copper,
1.45% zinc and 0.24 grams per tonne gold (Assessment Report 37650).
Plans are to collect
representative channel samples and design follow-up trenching and drilling.
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"
Director604-488-3900
Lubica Parilakova
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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 statement 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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