STLLR Gold Announces Exploration Drilling Results at the Tower Gold Project
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STLLR Gold Announces Exploration Drilling Results
at the Tower Gold Project
TORONTO, ONTARIO, May 21, 2024 – STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) (“STLLR” or the
“Company”) announces the assay results from the exploration drilling of prospective targets near the 55 Zone
and Westaway Deposits at the Golden Highway Area (western end) of the Tower Gold Project in Timmins,
Ontario, Canada. Exploration drilling at the Colomac Gold Project in the Northwest Territories, Canada, has
also commenced.
Table 1: 2024 Exploration Drilling Highlights – 55 Zone West and Westaway South Limb Targets
(See Figures 1-4):
Targets Hole ID Assay Result
55 Zone West MGH24-517 0.73 g/t Au over 57.00 m (incl. 1.93 g/t Au over 12.00 m) &
0.73 g/t Au over 26.00 m (incl. 3.22 g/t Au over 3.00 m)
55 Zone West MGH24-520 2.79 g/t Au over 4.00 m
Westaway SL MGH24-519 0.84 g/t Au over 21.00 m
“g/t Au”: grams per tonne gold; “m”: metres
Keyvan Salehi, P.Eng., MBA, President, CEO, and Director of STLLR stated: “Our properties in the Timmins
Mining Camp have immense exploration upside. This year, we plan to test some high-potential targets near
the Tower Gold Project . The assay results received from recent drilling are very encouraging and warrant
follow-up. W e intersected gold mineralization west of the 55 Zone Deposit and south of the Westaway
Deposit, outside of the known mineral resources. We also drilled targets near the Windjammer and Discovery
Deposits, and we are awaiting assay results.”
“We have also commenced exploration drilling at our Colomac Gold Project in the Northwest Territories. This
year, we are targeting zones with the potential for higher-grade, open-pit mineralization near the south end
of the Colomac Main Deposit. We anticipate receiving assay results in a few weeks from now.”
Golden Highway Exploration Targets
STLLR has identified several high-potential exploration targets in the Golden Highway area of the Tower Gold
Project (See Figure 1 for the Drill Location Map). These targets are located outside the known mineralization,
and planned drilling will test either the potential extensions of the know n mineralization or areas where the
geological interpretation appears favourable for new gold discoveries.
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55 Zone West Extension (See Figures 1, 2 and 3)
Holes MGH24-517 and MGH24-520 drill-tested an area across a major fault to the west of the 55 Zone Deposit.
This area has the potential to extend the Golden Highway mineralization along strike . Promising results
demonstrate intersections of gold mineralization, and future follow-up drilling is warranted . STLLR’s land
includes an additional 3 km of geological strike which has limited exploration work to-date.
Westaway South Limb (“Westaway SL”) (See Figures 1, 2, and 4)
The Westaway Deposit is primarily associated with the Timiskaming -age clastic , sediment-hosted stacked
quartz veins located immediately south of the regional banded iron formation on the north limb of a folded
basin. Drilling in the area south of the Westaway Deposit tests the potential for similar mineralization controls
along the south limb of the basin. Initial results confirm continued gold mineralization along the primary
mineralizing structures as well as a wider mineralized zone at Westway. Based on positive indications that the
mineralized system continues within the southern portion o f the basin , follow-up work is required in the
winter.
Windjammer and Discovery
The Company is currently drilling targets near the Windjammer and Discovery Deposits, with assay results
pending.
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Figure 1: Tower Gold Project – Golden Highway Drill Location Map
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Figure 2: Exploration Results Map – 55 Zone West and Westaway SL
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Figure 3: 55 Zone West – Exploration Drilling Cross Section “A-B”
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Figure 4: Westaway SL: Exploration Drilling Cross Section “C-D”
Table 2: 55 Zone and Westaway: Exploration Drill Intercepts
Zone Hole Number From
(m)
To
(m)
Interval
(m)
Grade
(g/t Au)
Metal Factor
(g/t Au x m)
55 Zone MGH24-515 No Significant Intervals
55 Zone MGH24-516 162.00 166.00 4.00 0.32 1.28
55 Zone and 417.00 419.00 2.00 1.34 2.68
55 Zone and 505.00 507.00 2.00 1.36 2.72
55 Zone and 614.00 620.25 6.25 0.44 2.75
55 Zone West MGH24-517 58.00 84.00 26.00 0.73 18.98
55 Zone West including 81.00 84.00 3.00 3.22 9.66
55 Zone West and 344.00 401.00 57.00 0.73 41.61
55 Zone West including 364.00 376.00 12.00 1.93 23.16
55 Zone West MGH24-520 67.00 71.00 4.00 2.79 11.16
Westaway SL MGH24-518 No Significant Intervals
Westaway SL MGH24-519 266.00 287.00 21.00 0.84 17.64
Westaway SL and 398.00 404.00 6.00 1.18 7.08
Westaway SL and 419.00 422.00 3.00 0.48 1.44
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Zone Hole Number From
(m)
To
(m)
Interval
(m)
Grade
(g/t Au)
Metal Factor
(g/t Au x m)
Westaway SL and 501.00 503.00 2.00 2.40 4.80
Westaway SL MGH24-521 98.00 165.00 67.00 0.38 25.46
Westaway SL including 147.00 153.00 6.00 1.82 10.92
Westaway SL and 280.00 290.00 10.00 0.30 3.00
Westaway SL and 304.00 306.00 2.00 1.07 2.14
Note: All intercepts are calculated using a 0.30 g/t Au cut-off, a maximum of 5m internal dilution and no top cap applied. Drill intercepts are not true widths.
Table 3: 55 Zone West and Westway SL: Exploration Drill Hole Details
Zone Hole Number Easting Northing Elevation Azimuth Inclination
End of
Hole
Depth (m)
55 Zone MGH24-515 569511.21 5368369.59 339.87 30.08 -55.15 501.00
55 Zone MGH24-516 569512.07 5368369.24 340.18 14.10 -54.99 627.00
55 Zone MGH24-517 568516.43 5368497.79 340.92 59.11 -54.12 453.00
55 Zone MGH24-520 568516.58 5368496.79 341.17 75.02 -55.19 642.00
Westaway MGH24-518 570532.20 5368842.58 344.20 30.02 -60.03 402.00
Westaway MGH24-519 570527.67 5368725.19 344.64 30.06 -60.11 510.00
Westaway MGH24-521 570669.86 5368821.44 345.10 44.98 -57.12 408.00
Quality Control Procedures
NQ drill core is oriented and cut with half sent to ALS Laboratories Inc. (ALS) for drying and crushing to -2 mm, with a 1.00
kg split pulverized to -75 µm (200#). ALS is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed
using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected
samples with visible gold or high -grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample.
STLLR inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and
coarse reject sample duplicates, as well as completing routine third -party check assays at Bureau Veritas Commodities
Canada Ltd.
Qualified Person
John McBride, MSc., P.Geo., Vice President of Exploration for STLLR, who is the “Qualified Person” as defined by NI 43 -
101 for this project, has reviewed and approved of the technical disclosure contained in this news release.
About STLLR Gold
STLLR Gold Inc. (TSX: STLR; OTCQX: STLRF; FSE: O9D) is a Canadian gold development company actively advancing two
cornerstone gold projects in Canada: The Tower Gold Project in the Timmins Mining Camp in Ontario and the Colomac
Gold Project located north of Yellowknife, Northwest Territories. Each of these two projects has the potential for a long-
life and large -scale operation and are surrounded by exploration land with favo urable upside potential. STLLR’s
experienced management team, with a track record o f successfully advancing projects and operating mines, is working
towards rapidly advancing these projects.
Contact Us
STLLR Gold Investor Relations
+1 (416) 863-2105 | [email protected] | www.STLLRgold.com
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Forward-Looking Information
This news release contains “forward-looking information ” within the meaning of applicable Canadian securities legislation. Forward -
looking information includes, but is not limited to the potential expansion of the known mineralization at the Tower Gold Project, the
discovery of new gold mineralization, the timing of the release of the assay results, the goals, synergies, strategies, opportunities, profile,
mineral resources and potential production, project timelines, prospective shareholding, integration and comparables to other
transactions, the future finan cial or operating performance of STLLR and STLLR’s mineral properties and project portfolios, the
advancement of the Tower Gold and Colomac Gold Projects, long-life and large-scale potential of the Tower and Colomac Gold Projects and
exploration upside of the land packages. Generally, forward -looking information can be identified by the use of forward -looking
terminology such as “accelerate”, “add” or “additional”, “advancing”, “anticipates” or “does not anticipate”, “appears”, “believes”, “can
be”, “conceptual”, “confidence”, “continue”, “convert” or “conversion”, “deliver”, “demonstrating”, “estimates”, “encouraging”,
“expand” or “expanding” or “expansion”, “expect” or “expectations”, “fast-track”, “forecasts”, “forward”, “goal”, “improves”,
“increase”, “intends”, “justification”, “leading”, “plans”, “potential” or “potentially”, “pro-forma”, “promise”, “prospective”,
“prioritize”, “reflects”, “re-rating”, “robust”, “scheduled”, “stronger”, “suggesting” or “suggests”, “support”, “updating”, “upside”,
“will be” or “will consider”, “work towards”, or variations of such words and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”.
Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on
a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actu al results,
level of activity, performance or achievements of STLLR to be materially different from those expressed or implied by such forward-looking
information, including risks associated with required regulatory approvals, the exploration, development and mining such as e conomic
factors as they effect exploration, futu re commodity prices, changes in foreign exchange and interest rates, actual results of current
exploration activities, government regulation, political or economic developments, the ongoing wars and their effect on suppl y chains,
environmental risks, COVID-19 and other pandemic risks, permitting timelines, capex, operating or technical difficulties in connection with
development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing
quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well
as those risk factors discussed in the joint management information circular of STLLR dated December 20, 2023 , available on
www.sedarplus.ca. Although STLLR has attempted to identify important factors that could cause actual results to differ materially from
those contained in forward -looking information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be n o assurance that such information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward -looking
information. STLLR does not undertake to update any forward-looking information, except in accordance with applicable securities laws.