Carlyle Provides Update at its Newton Gold Silver Project; Drills 1,001 Meter Hole
5803 – 1151 West Georgia Street, Vancouver, British Columbia V6E 0B3
News Release
CARLYLE PROVIDES UPDATE AT ITS NEWTON GOLD SILVER PROJECT;
DRILLS 1,001 METER HOLE
February 15, 2023 CSE:CCC | FSE:BJ4 | OTC:DLRYF
CARLYLE COMMODITIES CORP. (CSE:CCC, FSE:BJ4, OTC:DLRYF) (“Carlyle” or the “Company”) is
pleased to announce that is has completed its first drill hole of over 1,000 meters at its 100% owned
Newton Gold Silver Project near Williams Lake, British Columbia. The Newton Gold Silver Project is a
low sulphide epithermal system. The system remains open in multiple directions, within a highly
prospective land package that is workable year-round.
The Company’s Phase 1 diamond drill program, which recently kicked off, is intended to test high
priority targets with aims of increasing both tonnage and ounces of the Company’s current National
Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) pit-constrained
inferred mineral resource estimate (for further information, see the technical report entitled
“Technical Report on the Updated Mineral Resource Estimate for the Newton Project, Central British
Columbia, Canada” dated effective June 13, 2022, available on www.sedar.com and at
www.carlylecommodities.com (the “Technical Report”)). The initial focus tested a key zone of felsic
volcanic host rock that is outside of the current pit-constrained inferred mineral resource estimate
with the intention of discovering a new zone of mineralization. The initial target’s main objective is
to test continuity of the well mineralized main felsic domain, which remains open at depth below
approximately 500 meters from historical drilling. Carlyle successfully completed this first hole by
drilling to a depth of 1,001 meters directly through the current inferred resource and extending to
untested sections of the felsic domain at depth. Visual reports indicate that much of the host rock
encountered throughout the entire 1,001 meters of drill length encompasses the felsic volcanic unit,
which historically hosted much of the gold and silver mineralization within the current inferred
resource (see the Technical Report for further information).
Mr. Jeremy Hanson, VP Exploration stated: “We are thrilled to have completed this first deep drill
hole, testing depths never seen at Newton. Our modelling indicates several mineralized felsic domains
expanding outside of the current inferred resource with potential for discoveries of new zones of
mineralization. This initial hole tested beyond the depth of the current inferred resource by
approximately 500 meters, most of which cut through the targeted felsic volcanic unit host rock.”
Table 1 – Drill Collars UTM Zone 10N
Hole Easting Northing Elevation Azimuth Dip Length
N23-089 457500 5738701 1269 270 -65 1001
Figure 1: East – West section displaying open mineralized felsic volcanic domains with the trace of the first hole
of Phase 1 diamond drilling in 2023.
Figure 2: Quartz sericite altered felsic volcanics with disseminated and
vein controlled pyrite – marcasite sulphides.
From Top:
1: N23-089 199.26 – 201.4m
2: N23-089 399.60 – 408.15
3: N23-089 599.37 – 603.35m
4: N23-089 796.99 – 800.1m
5: N23-089 963.11 – 967.02m
The Company is drilling final targets and will report updates in due course.
Qualified Person
Jeremy Hanson, P.Geo. and a Qualified Person for purposes of NI 43-101, has reviewed the scientific
and technical information that forms the basis for this news release and has approved the disclosure
herein. Historical information contained in this news release has not been verified by Mr. Hansen and
cannot be relied upon.
About Carlyle
Carlyle is a mineral exploration company focused on the acquisition, exploration, and development
of mineral resource properties. Carlyle owns 100% of the Newton Project in the Clinton Mining
Division of B.C. and is listed on the CSE under the symbol “CCC”.
ON BEHALF OF THE BOARD OF DIRECTORS OF
CARLYLE COMMODITIES CORP.
“Morgan Good”
Morgan Good
President and Chief Executive Officer
For more information regarding this news release, please contact:
Morgan Good, CEO and Director
T: 604-715-4751
W: www.carlylecommodities.com
Cautionary Note 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, statements regarding the anticipated Phase 1 drill
program drill targets on the Newton Project, including their expected contents, are forward-looking statements and
contain 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” or “would” or occur. Forward-looking
statements are based on certain material assumptions and analysis made by the Company and the opinions and
estimates of management as of the date of this press release, including that the Company will be able to complete
the Phase 1 drill program as anticipated and that the results of such drill program will improve the Company’s current
inferred mineral resource estimate as anticipated. 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 the Company 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: general business, economic and social uncertainties; litigation, legislative, environmental, and other
judicial, regulatory, political, and competitive developments; and other risks outside of the Company’s control.
Further, the ongoing COVID-19 pandemic, labour shortages, high energy costs, inflationary pressures, rising interest
rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors
that are affecting current economic conditions and increasing e conomic uncertainty, which may impact the
Company’s operating performance, financial position and future prospects. Although management of the Company
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. These
forward-looking statements are made as of the date of this news release and, unless required by applicable law, the
Company assumes no obligation to update these forward-looking statements.
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for
the adequacy or accuracy of this release.