Central Timmins Exploration Corp. Completes Summer Work Program Best Intercept in the Dayton Gold Zone in Deloro Township 6.35 m
Central Timmins Exploration Corp. Completes
Summer Work Program
Best Intercept in the Dayton Gold Zone in
Deloro Township
6.35 m
@ 3.29 g/t Gold (estimated true width
4.93 m
)
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CTEC interprets that the Historical Dayton gold zone has a parallel quartz breccia
system in sediments
Drill hole D-19-06 in the Dayton Gold Zone in
Deloro Township
intersected 3.29 g/t Au
over a
6.35 m
core width (estimated true width
4.93 m
) from
112.3 m
depth in quartz
sulphide and massive sulfide veins
CTEC's drill hole on the
Four Corners
property intersected a
30 m
wide band of
sediments, which is often a marker horizon above the VMS polymetallic vein style
mineralization in the Kam Kotia area mines
TORONTO
,
Sept. 26, 2019
/CNW/ -
Central Timmins Exploration Corp.
("CTEC" or the
"Company") (TSXV: CTEC) is pleased to present the results from its 2019 summer exploration
program. Diamond drilling totaling 1,600 meters commenced
July 9
th
, successfully advancing several
gold and base metal targets in
Timmins, Ontario
.
CTEC's 100%-owned land position (14,035 ha or 140 km
2
) in the Timmins Camp in
Northern Ontario
has been assembled over the past 15 years and grouped into distinct township referenced projects
within the city limits of
Timmins
. CTEC is undertaking brownfields gold and VMS exploration in the
Timmins Camp both to the north and south of the 10 km wide corridor encompassing the Porcupine
Destor Fault Zone (PDFZ), the preferential exploration focus of the past 100 years.
The Company's Deloro–Ogden Township brownfield exploration is focused on two gold systems
south of the PDFZ, the historic Dayton Gold Zone horizon and the past-producing Faymar Gold
Mine. An additional and substantial gold project on the north side of the PDFZ in
Mountjoy Township
is targeting the potential continuation of the Hollinger-McIntyre gold system westerly into
Mountjoy
Township
. CTEC's base metal-gold project is in the Kamiskotia VMS camp and centred on a series
of narrow but high-grade gold-silver-zinc veins located near the common corner of four Townships
(
Godfrey
, Jamieson,
Robb
, and Turnbull) within the city limits of
Timmins
.
The attached map shows the CTEC project and recently-completed drill holes relative to the giant
gold mines of the Timmins Camp and several of the historic VMS mines in the
Kamiskotia
area.
The summer drill program advanced all three CTEC projects:
Four Corners Project
Drill hole FC-19-01 was collared to test the potential lateral extensions of NW-SE to N-S trending
gold mineralization intersected by Claim Post Resources Inc. (CPS) in 2007 to 2010 drilling. This
drilling intersected multiple gold and zinc base metal bearing zones with widths varying from
0.18 m
(estimated true width
0.14 m
) to
1.63 m
(estimated true width
1.22 m
) at grades ranging from 1.44
g/t Au to 19.97 g/t Au and averaging 3.00 g/t over a
3.00 m
core width (estimated true width
2.25
m
).
More specifically, the hole targeted a magnetic low/coincident MMI target,
300 m
east of a vein set
where only gold values had been intersected in sediments. The CTEC hole intersected
30 m
of
intermixed sediments and porphyries. Identifying this horizon has substantially increased the VMS
potential of the
Four Corners
area. D.R.
Pyke and R.S. Middleton
published a paper in the
March
1971
CIM Bulletin, which describes a sedimentary unit up to
30 m
thick that overlies the rhyolitic unit
hosting the Kam Kotia, Canadian Jamieson, and Jameland VMS orebodies. CTEC is currently
undertaking a downhole IP survey to target potential massive sulphide lenses underlying the gold-rich
polymetallic veins.
South of the PDFZ
CTEC completed two oriented core diamond drill holes on the Dayton Gold Zone in
Deloro Township
first drill tested in the 1930s with 24 diamond drill holes. CPS added an additional 20 holes in 2010
and 2011. The zone has traditionally been viewed as a single narrow iron formation horizon with
variable gold mineralization. Computer modeling of all available drill hole data now indicates a
potential iron formation fold nose targeted by CTEC holes D-6-19 and D-7-19 near 2010 CPS drill
hole CPDP-10-01. Intersections are as follows:
CTEC D-19-06: 6
.
35 m
(estimated true width
4.93 m
) @ 3.29 g/t Au from
112.3 m
depth in
quartz sulphide and massive sulphide (MS) veins
CTEC D-19-07:
3.80 m
(estimated true width
3.44 m
) @ 1.51 g/t Au from
86.5 m
depth in
quartz sulphide and MS veins
CPDP 10-01:
14.07 m
(estimated true width
10.61 m
) @ 1.69 g/t Au from
117.1 m
depth in
quartz sulphide and MS veins
All three holes have intersections of similar quartz sulphide and massive sulphide veins. A down the
hole IP survey plus diamond drilling indicate that the immediate nose fold area of the Dayton Zone is
at least
100 m
long, extends to a depth of at least
150 m
(the extent of current drilling) and plunges
to the southeast. Relogging of the CPS holes is in progress.
The 2019 drilling has identified a second gold bearing quartz breccia horizon located about
15 m
horizontally from the iron formation. Secondly, the quartz breccia is located within a sedimentary
horizon that has previously been misidentified as an andesite-tuff horizon. Thirdly, the dip of the
breccia zones can be interpreted as flat lying or steep dipping parallel to the iron formation; more
drilling is required to confirm the orientation and extent of the breccia zones.
North of the PDFZ
The
Mountjoy
-
Godfrey
project is designed to test the theory that the Hollinger-McIntyre gold system
did not stop at the Mountjoy-Tisdale Township boundary but extends through
Mountjoy Township
to
the west.
Three holes drilled during CTEC's winter drill program had confirmed wide intersections of low-grade
gold mineralization in the Caron porphyry on the west boundary of
Mountjoy
. The best assay from
the program was 2.46 g/t Au over
0.70 m
hosted in porphyry in hole G1-19-02 (see CTEC press
release dated
June 6, 2019
). This hole also had 11 additional narrow gold intersections that assayed
100 to 300ppb Au in altered and quartz veined porphyry.
The summer drill program targeted three anomalies, two potential porphyry targets, one
600 m
and
the second
1,200 m
southeast of the Caron porphyry. The third target was a strong IP anomaly
500
m
directly to the east of the Caron porphyry. Drilling of these targets proved to be very difficult due
to deep overburden.
The first planned porphyry hole was lost at a
60 m
depth at the contact with a gravel deposit. The
patented surface rights owner hosting the second porphyry target wanted the hole to be drilled in a
winter program. The third was successfully drilled through
50 m
of fine sand and
10 m
of gravel and
boulders. The IP anomaly proved to be a graphitic schist.
Charles Gryba
, President and CEO stated, "CTEC's summer drill program successfully confirmed
that the narrow
Four Corners
high-grade base metal and gold veins are in the right location relative
to the rhyolite horizon that hosts the VMS deposits in the Kam Kotia area. Of particular interest is
that the CPS drilling in 2007 intersected gold mineralization in the sedimentary horizon that caps the
rhyolite-VMS horizon. There may be a gold system in addition to the VMS system.
Exploration drilling south of the PDFZ was very successful in expanding the potential of the Dayton
Gold Horizon. The two holes drilled into the zone confirmed a second gold horizon in a newly
recognized and prospective sedimentary unit. The new gold mineralization may be parallel to the iron
formation and/or flatter dipping. Recent government mapping plus a Deep Seismic survey following
Pine Street south of
Timmins
both indicate that the Dayton Gold Zone curves through a 10 km long
east-west anticline of the south side of the PDFZ. The quartz breccia zones may relate to fractured
areas along the hinge line of the large anticline. More drilling is required.
In addition to the summer drilling, a detailed geophysical compilation and interpretation of a historic
Mountjoy
airborne magnetic survey plus other historical geophysical surveys has been undertaken.
The results are now being analyzed by CTEC geologists in the hopes of advancing the theory that
Hollinger-McIntyre stratigraphy extends into and possibly across
Mountjoy Township
and further
drilling may be proposed. The company is also carrying out limited IP surveys to confirm
Mountjoy
gold targets."
The Company remains well financed and will announce details of the next phase of its exploration
program once all current information is compiled and reviewed.
CTEC has a comprehensive, industry standard Quality Assurance/Quality Control program in place
covering all its drill core assaying being done at Activation Laboratories Ltd. in
Ancaster, Ontario
.
The program is supervised by an independent Qualified Person.
Mr.
John Sullivan
, B.Sc., P. Geo, independent director of CTEC, has acted as the Qualified Person,
as defined in NI 43-101, with respect to the disclosure of the scientific and technical information
relating to exploration results and future plans disclosed in this press release.
About Central Timmins Exploration Corp.
CTEC is an early-stage Canadian junior exploration company with property exclusively within the city
limits of
Timmins
in the Porcupine Mining District in the northeastern region of
Ontario
. The
Company's assets are prospective for gold as well as a suite of base metals. See the company
website at
www.centraltimmins.com
.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities
laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking
information" includes statements that use forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or
comparable terminology. Such forward-looking information includes, without limitation, the
Corporation's expectations, strategies and plans for the Timmins Properties, including the
Corporation's planned exploration activities and the intended uses of the net proceeds of the IPO.
Forward-looking information is not a guarantee of future performance and is based upon a number
of estimates and assumptions of management at the date the statements are made. Furthermore,
such forward-looking information involves a variety of known and unknown risks, uncertainties and
other factors which may cause the actual plans, intentions, activities, results, performance or
achievements of the Corporation to be materially different from any future plans, intentions,
activities, results, performance or achievements expressed or implied by such forward-looking
information. See "Risk Factors" in the Corporation's final prospectus dated
October 4, 2018
filed on
SEDAR at
www.sedar.com
for a discussion of these risks.
The Corporation cautions that there can be no assurance that forward-looking information will prove
to be accurate, as actual results and future events could differ materially from those anticipated in
such information. Accordingly, investors should not place undue reliance on forward-looking
information.
Except as required by law, the Corporation does not assume any obligation to release publicly any
revisions to forward-looking information contained in this press release to reflect events or
circumstances after the date hereof.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the Exchange) accepts responsibility for the adequacy or accuracy of this release.
CTEC Project Location Map (CNW Group/Central Timmins Exploration Corp)
SOURCE
Central Timmins Exploration Corp
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For further information:
Central Timmins Exploration Corp., Charles Gryba, President, CEO &
Director, [email protected], Tel: 416-801-6366; Chris Hopkins, CFO, [email protected], Tel:
416 786 9793
CO: Central Timmins Exploration Corp
CNW 08:30e 26-SEP-19