Signature Resources Reports Final Results for the 2024 Drilling Program Highlighted by a new Drill Intercept of 51 Metres with an Average Grade of 1.81 g/t Gold from LM24-09 in the South Zone.
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Signature Resources Reports Final Results for the 2024 Drilling Program Highlighted by
a new Drill Intercept of 51 Metres with an Average Grade of 1.81 g/t Gold from LM24-09 in
the South Zone.
Toronto, Ontario, February 18, 2025, Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE:
3S30) ("Signature" or the "Company") is pleased to provide the final assay results of its 2024 drill program
which again highlighted a larger halo of near surface mineralization. The drill results from holes west of
the north -south trending dyke which bisects the zones, extended the mineralization to the w est and
successfully tested areas of interest identified by Artificial Intelligence (“AI”) interpolation in our geologic
model. This was confirmed by intersections in the South Zone for diamond drill holes (“DDH”) LM24-09
and LM24-10. Drill hole LM 24-09 returned 1.81 grams per tonne of gold (“g/t Au”) over 51 metres (“m”)
which includes 14 m with an average grade of 3.6 g/t Au. Drill hole LM24-10 returned 34 m with an
average grade of 1.8 g/t Au, including six metres with an average grade of 7.7 g/t Au . The Company is
also announcing results from four drillholes further to the west that encountered mineralization in the
West Zone and extended the zone westward with results from drill hole LM 24-14.
I am very pleased that we have been able to complete all the assay work on our 2024
drill program and can say our work programs have successfully met our goals of
defining a larger, near surface gold halo. The four drill holes designed to test the
AI identified gaps in our database were successful. We have seen an extensive
expansion of the mineralized gold halo on the property which is supportive of the
shallow resource being tested. In addition, our knowledge of the control structures
of the deposit has also improved. With all this work complete, we can now move
forward with our initial NI 43-101 resource which is expected to be released this
spring. This will be a significant step in demonstrating the potential of the Lingman
Lake gold deposit which remains open in all directions. We look forward to gaining
geological insights as the new information is compiled into the resource model.
These new drill results continue to show potential to extend laterally and its exciting
to consider that we have only drilled to a depth of 200 m where many NW Ontario
deposits continue much deeper.”
- J. Dan Denbow, CFA – President, CEO and Director
As previously announced, the Company’s 2024 drill program consist ed of 14 DDH’s for a total of 4,736
metres of drilling. The drilling program was carefully designed to improve our knowledge of the Lingman
Lake gold deposit, fill identified data gaps and test new targets identified in our updated geologic model
completed earlier this year. The drill program included continuous core assaying for the entire length of
each hole, thereby providing total lithological gold distribution, giving us a much more complete data
package about the mineralization contained in and outside the mineralized zones.
Figure 1 is the surface view of all the drillholes completed in the 2024 drill program (yellow drill
traces) relative to the historical drilling beginning in 1987 up to 2021. All new drilling information
and assays are being incorporated into the database to expand and build the Lingman Lake deposit
model. All the necessary field work and verification at the project site required for the resource estimate
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has been completed by the independent geologists and the data has been handed over for analysis for
the resource statement and updating the geologic model. The resource estimate is being undertaken by
the independent geologic consulting firm of Watts, Grif fis and McQuat Limited (WGM). All of this new
data will be used to generate a maiden NI 43-101 resource this spring. The resource is designed
to provide a snapshot of the size and value of the Lingman Lake deposit as it remains open in
all directions and represents a small percentage of the overall land package that stretches over
32 km strike length.
Figure 1: 2024 Drill Program
Drilling results West of the Diabase Dyke
Figure 2 is the surface view of the drillholes west of the diabase dyke (yellow drill traces) relative to the
historical drilling beginning in 1987 up to 2021. There were 6 DDH holes completed west of the dyke .
Drill holes LM 24-09 and LM 24-10 were collared very near the diabase dyke and were designed to target
an area identified with AI interpolation of the geologic model where additional drilling could successfully
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add to the model. Both of these holes were very successful in that they encountered a wide zone of
mineralization extending the South Zone west of the dyke for 70 m. The remaining drillholes, LM 24-11,
LM 24-12, LM 24-13 and LM 24 -14 were drilled further to the west in the area of Shoe Lake and were
targeting the western extension of the West Zone. All four holes encountered the West Zone and i n
addition three of the four zones also encountered a mineralized area that we believe could be part of the
Central Zone. We are very pleased that these holes all encountered significant mineralization which
correlate to strike extension of known zones.
Figure 2: Drilling West of Diabase Dyke
LM 24-09
DDH LM 24 -09 was collared at the margin of diabase dyke and drilled to the north at a 355 degree
azimuth reaching total depth of 251 m. This hole had two distinct mineralized intersections in the South
Zone of very good width. The first section was 35 m wide with an average grade of 2.25 g/t Au followed
by 7 m of 1.93 g/t Au. These two sections were separated by 9 m. Combined, the South Zone intercept
is 51 m with an average grade of 1.81 g/t Au. Within these broad mineralized sections there were a
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number of high- grade intercepts including 4 m with an average grade of 4.4 g/t Au and 6 m with an
average grade of 5.34 g/t Au. This South zone mineralization was first intercepted at a drilling depth of
76 m. At 198 m depth hole intersected low grade mineralization of 0.42 g/t Au over 4 m, which is being
interpreted to be the western extension of the Central Z one. While not significant from a grade
perspective, it does indicate that a shear structure with sulphide mineralization is present where the
Central Zone projects west of the dyke. See Table 1: Assay Results West of Diabase Dyke for further
details of the drilling results.
LM 24-10
DDH LM 24-10 was drilled southwest at an azimuth of 225 degrees to a total drilling depth of 353 m. The
results from this hole confirm the intercepts from LM 24-09 and increases the western strike extension
from LM 24-09 by 35 m . Drill hole LM 24-10 intercepted 34 m with an average grade of 1.8 g/t Au.
Within this mineralized intercept is a 21 m section with an average grade of 2. 8 g/t Au which included
one metre intercepts of 13.6 g/t Au, 8.1 g/t Au and 12.2 g/t Au which are part of a 6 m segment with an
average grade of 7.7 g/t Au.
LM 24-11
LM 24-11 and LM 24-12 were drilled from the same setup to the southwest at an azimuth of 215 degrees
just east of Shoe Lake. LM 24-11 was drilled at a dip of 65 degrees to a total drilling depth of 350 m. It
is interpreted that the hole intercepted a lower grade section of the West Zone from 81 m to 88 m
averaging 0.36 g/t Au. The zone was again intersected from 135 m to 153 m which averages 1.23 g/t Au
over 18 m which includes a 1 m intercept grading 10.7 g/t Au. This hole intersected the West Zone about
50 m vertically below the intercept of LM 24-12.
LM 24-12
LM 24-12 was drilled at a dip of 45 degree for a total drilling depth of 302 m depth. The West zone was
encountered at 53 m and is made up three distinct sections. The first section of 4 m averages 0.67 g/t
Au, the second section of 3 m averages 0.65 g/t Au and the third section of 8 m averages 0.34 g/t Au
ending at a drilling depth of 87m. In addition, LM 24-12 encountered another mineralized zone beginning
at a drilling depth of 254m for a width of 10 m with an average grade of 0.36 g/t Au. Its correlation to
known zones i.e. West Central, remains to be determined.
LM 24-13
LM 24-13 and LM 24 -14 were collared 90 m west of Shoe Lake and drilled from the same setup at an
azimuth of 35 degrees. LM 24-13 was drilled at a dip of 65 degrees to a total drilling depth of 350 m .
The hole encountered mineralization from 17 m to 35 m, an 18 m intercept with an average grade of 0.39
g/t Au. It includes two 1 m sections of 2.6 g/t Au and 2.1 g/t Au. The hole intercepted the West Zone at
302 m returning a 4 m section with an average grade of 0.71 g/t Au. This West Zone intersection is about
100 m below the West Zone intersection of LM24-14.
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LM 24-14
LM 24-14 was drilled at a dip of 45 degrees to a total drilling depth of 302 m and encountered similar
lower grade near surface mineralization as LM 24-13. At 24 m depth 4 m returned an average grade of
0.48 g/t Au. The hole intercepted a section of mineralization interpreted to be the West Zone from of 166
m to 196 m. This 30 m interval returned an average grade of 0.37 g/t Au with a one met re intercept
grading 6.85 g/t Au. LM24-13 and LM24-14 were essentially significant step out holes. The results from
these holes not only establish the strike extension of the West zone, 180 m beyond its know extent, but
also encountered an emerging zone tentatively being correlated as the West Central Zone from their near
surface intersections of mineralized volcanics.
Table 1: Assay Results West of Dyke
From m To m Width
DRILL HOLE LM24-09
ZONE AVG 74 125 51 m
I
NCLUDES 74 109 35 m
includes 75 76 1 m Grading 13.18 g/t
85 87 2 m Grading 4.82 g/t
95 99 4 m Grading 4.42 g/t
103 108 4 m Grading 7.23
INCLUDES 118 125 7 m Grading 1.93 g/t
includes 119 120 1 m Grading 6.41 g/t
121 122 1 m Grading 3.71 g/t
ZONE AVG 198 202 4 m
DRILL HOLE LM24-10
ZONE AVG 101 135 34 m
INCLUDES 114 135 21 m
includes 118 124 6 m G rading 7.73 g/t
132 133 1 m Grading 5.05 g/t
DRILL HOLE LM24-11
ZONE-1 AVG 81 88 7 m AVG 0.36 g/t
ZONE-2 AVG 135 153 18 m AVG 1.23 g/t
includes 136 139 3 m Grading 4.96 g/t
148 150 2 m Grading 2.45 g/t
WEST ZONE
AVG 0.42 g/t
AVG 1.81 g/t
AVG 2.82 g/t
CENTRAL ZONE
SOUTH ZONE
LINGMAN LAKE PROJECT
Observed Zone Au result
AVG 1.81 g/t
Grading 2.25 g/t
SOUTH ZONE
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Table 1: Assay Results West of Dyke (continued)
DRILL HOLE LM24-12
ZONE AVG 53 86 33 m
INCLUDES 53 56 4 m G rading 0.67 g/t
69 72 3 m Grading 0.65 g/t
78 86 8 m Grading 0.34 g/t
ZONE AVG 254 264 10 m
I
NCLUDES 246 247 1 m Grading 1.22 g/t
DRILL HOLE LM24-13
ZONE AVG 17 35 18 m
INCLUDES 17 24 7 m
32 35 3 m
296 297 1 m G
rading 2.17 g/t
ZONE AVG 302 306 4 m A VG 0.71 g/t
DRILL HOLE LM24-14
ZONE AVG 24 28 4 m A VG 0.49 g/t
ZONE AVG 166 196 30 m
INCLUDES 182 196 14 M G rading 0.59 g/t
AVG 0.24 g/t
WEST ZONE
AVG 0.36 g/tWEST CENTRAL
ZONE X
AVG 0.39 g/t
Grading 0.62 g/t
Grading 0.85 g/t
WEST CENTRAL
ZONE
WEST CENTRAL
ZONE
WEST ZONE
AVG 0.41 g/t
WEST ZONE
LM24-11 was drilled at azimuth 215 degeed, dip -65degrees.
LM24-12 was drilled at azimuth 215 degrees, dip -45 degrees.
LM24-13 was drilled at azimuth 035 degrees, dip -65 degrees.
LM24-13 was drilled at azimuth 035 degrees, dip -45 degrees
WEST ZONE stikes at 115 degrees
Computer modelling of the zones for true widths is
Notes to Table:
Reported widths are drill intercepts (core
All zones dip steeply south 70-80 degrees
LM24-09 was drilled at azimuth 355 degrees, dip -6
LM24-10 was drilled at azimuth 220 degrees, dip -6
NORTH ZONE strikes at 093 degr
CENTRAL ZONE strikes at 087 degrees.
SOUTH ZONE strikes at 082 degr
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Now that all the lab work on the drilling assays has been completed, the data is being handed off to our
independent consultants to complete their work on our initial NI 43- 101. With the publication of the
resource and the updating of our geologic model we will be in a position to design our work programs for
2025 that will be focused on improving the resource and extending our knowledge further of the Lingman
Lake project. It is our plan to expand our field program in 2025, that will help to identify new areas that
should be explored on our land package as well as follow up on the opportunities identified by the work
completed this past year. With the completion of the new geologic model and our initial resource, we will
design our 2025 program to fill any additional data gaps identified necessary to upgrade the resource
and look to expand and extend the knowledge of the mineralization even further that will continue to grow
our resource model. The company needs to gather further data on the potential depth of this deposit
and the lateral extension of the identified zones offering great opportunities for Signature. There are
many untested areas within our land package and remains open laterally and at depth. The 2024 drilling
program only covered 1.5 kilometers of our 32 km wide greenstone belt and has only been drilled to a
depth of 200 m.
Qualified Person
The scientific and technical content of this press release have been reviewed and approved by Mr. Walter
Hanych, P. Geo, consultant and Head Geologist, who is a Qualified Person under NI 43-101 regulations.
Quality Assurance and Quality Control
Signature Resources maintains an industry standard Quality Assurance / Quality Control (QA/QC)
program at the Lingman Lake Project to ensure sampling and analysis of all exploration work is
conducted in accordance with best practices. John Siriunas, P. Eng. is the independent Qualified
Person under 43-101 who monitors and scrutinizes the results of the QA/QC program.
Assay results from SGS’s Red Lake lab for gold and the Burnaby lab for gold and multi-element are
directly e-mailed to three individuals: Dan Denbow, President and CEO of Signature Resources, Walter
Hanych, P. Geo. consultant to the company, and John Siriunas, P. Eng. independent consultant to the
company.
SGS a certified laboratory and also have internal quality control (“QC”) programs that include insertion
of reagent blanks, reference materials, and pulp duplicates. The Corporation inserts QC samples
(blanks and reference materials) at regular intervals to monitor laboratory performance.
About Signature Resources Ltd.
The Lingman Lake gold property (the "Property") consists of 1,300 staked claims, four freehold fully
patented claims and 14 mineral rights patented claims totaling approximately 24,761 hectares. The
Property includes what has historically been referred to as the Lingman Lake Gold Mine, an underground
substructure consisting of a 126.5-metre shaft, and 3-levels at depths of 46-metres, 84-metres and 122-
metres. There has been over 28,000 metres of historical drilling done on the Property and four 500-pound
bulk samples that averaged 19 grams per tonne of gold. In November 2023, the Ontario government
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energized a new 115kV high tension transmission line within 40 km of the historic Lingman Lake Mine
(https://www.wataypower.ca/).
To find out more about Signature, visit www.signatureresources.ca or contact:
Dan Denbow
Chief Executive Officer
416-840-6345
or contact :
Renmark Financial Communications Inc.
John Boidman: [email protected]
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
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Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward- looking statements which are not statements of historical fact. Forward -looking statements
include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the
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Although these statements are based on information currently available to the Company, the Company provides no as surance that
actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward -looking information
could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by
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objectives, goals or future plans, statements, exploration results, potential mineralization, the estim ation of mineral resources,
exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks
associated with infectious diseases, including COVID -19. Factors that could cause actual results to differ materially from such forward -
looking information include, but are not limited to changes in general economic and financial market conditions, failure to i dentify
mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which
recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain
required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First
Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in
equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital
and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and developm ent
industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the
assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should
not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revi se any
forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.