Winshear Channel Sampling Increases Coritiri Target to 360m X 1km at the Gaban GOLD Project IN PERU
WINSHEAR CHANNEL SAMPLING INCREASES CORITIRI TARGET TO
360m X 1km AT THE GABAN GOLD PROJECT IN PERU
Vancouver, June 4, 2020
Winshear Gold Corp. (TSX-V: WINS) has received additional channel sampling gold assays
from the Coritiri Target within the Gaban Gold Project located in the Puno Orogenic Gold Belt
(“POGB”) in south-eastern Peru. Gaban covers the juncture of the San Gaban and Inambari
Rivers, which then drains into the Madre de Dios basin where alluvial gold mining covers a 700
square mile area (Figure 1).
Gold assays from this latest batch of channel sampling have increased the size of the Coritiri
Target to an area covering 360m x 1,000m. The target is open in all directions.
Key Points
• 145 channel samples were collected from creek-side outcrops within the target area,
making a total of 230 samples collected to date. Channel samples were typically one
to two metres long, focused on quartz veinlets and veins from a few millimetres to 10
cm wide, commonly oriented subparallel to foliation of the enclosing slates and
siltstones.
• Assays results of these samples define multiple mineralized structures within a 360m
x 1,000m area, associated with a shear / deformation zone dipping to the southwest
at approximately 40o.
• The current limits of the Coritiri Target are defined by the geographic limits of
sampling, not by samples with no reportable gold grades, of which there are only 8
(3.5% of the total 230 samples in the two field campaigns). The zone is open in all
directions. Gold-in-stream sediment anomalies to the northwest and southeast
along the same 140o trend of the outcropping shear / deformation fabric indicate a
target up to 9km long (Figure 2 and Figure 3)
• Of the 145 channel samples reported herein:
§ 13 samples returned between 1.0g/t Au – 5.26 g/t Au
§ 8 samples returned between 0.5 g/t Au – 0.99 g/t Au
§ 18 samples returned between 0.1 g/t – 0.49 g/t Au
§ 102 samples returned between 0.06 g/t Au – 0.099 g/t Au
§ 4 samples were below detection for gold (5ppb)
• Of the total 230 samples collected to date:
§ 23 samples returned between 1g/t Au – 15.75 g/t Au
§ 14 samples returned between 0.5 g/t Au – 0.99 g/t Au
§ 35 samples returned between 0.1 g/t – 0.49 g/t Au
§ 150 samples returned between 0.06 g/t Au – 0.099 g/t Au
§ 8 samples were below detection for gold (5ppb)
Additional field work is required to properly define the true scale of this target. Both the strike
and width of the gold mineralization remain to be defined.
Coritiri Target
Coritiri was initially identified from interpretation of airborne magnetic data, which inferred
the presence of an 8km x 1km NW-SE linear target adjacent to a 6.5km x 3.0km northwest-
southeast trending magnetic high. The geophysical anomaly / target is coincident with a 5km
long series of gold-in-stream sediment anomalies located within the Yanamayo River
catchment (Figure 2). The underlying geology in the area comprises sheared and deformed
siltstones and slates with foliation typically striking northwest -southeast and dipping
moderately to the southwest.
There are numerous artisanal workings in the Yanamayo catchment that develop placer gold
deposits, and there are a number of prospect pits and adits developed on outcropping quartz
veins. Winshear’s first bedrock channel sampling program of 85 samples was reported in a
previous press release (January 20, 2020), outlining a gold mineralized area at least 250m wide
by 700m long and open in all directions.
Figure 3 shows the outline of the Coritiri Target with all sampling information. The target was
defined by interpretation of a heliborne magnetic survey flown in 2018.
Gaban Gold Project Overview
The 18,700 hectare Gaban project straddles the Interoceanic Highway, has access to
hydroelectric power, and surrounds the town of San Gaban, providing good access to local
labour .
The project is approximately 38km north of Minera IRL’s Ollachea gold project (with reported
Indicated Resources of 10.6 Mt grading 4g/t Au for 1.4 million ounces of gold, plus Inferred
Resources of 3.3 Mt grading 3.3g/t Au for 300,000 ounces – note that there is no guarantee
that Winshear will have similar results at its Gaban Gold Project), and approximately 80 km
northwest of the historic high-grade Santo Domingo gold mine that operated between 1890-
1920 (see Figure 1).
During the most recent field campaign the sampling team discovered parts of an old stamp
mill in the Piquitiri stream downstream from the Coritiri Target. The same type of stamp mills
were used in the Ollachea District and at the Santo Domingo Mine.
Figure 2 shows the aeromagnetic setting of the Gaban project, which is underlain by a regional
anticline comprising the San Jose Group of sedimentary rocks (siltstones and bituminous
shales), which has been cut by Devonian and Permo-Triassic aged granitic and intermediate
intrusions. A prominent, bifurcating aeromagnetic high trending no rthwest-southeast is
interpreted to represent pyrrhotite associated with hydrothermal alteration associated with
the shear zone passing through the Coritiri Target.
Technical Information
William McGuinty P. Geo. of OTD Exploration Services Inc., a Qualified Person as defined by
National Instrument 43-101, has reviewed and approved the contents of this news release.
Mr. McGuinty has visited Winshear’s Gaban exploration project and reviewed sampling
methods and quality assurance / quality control (QA/QC) programs for the project.
Channel samples are taken from exposed outcrops and cut to capture the best available angle
to the orientation of the sampled structure. Samples collected in the field are accompanied
by third party, certified gold standards, sample blanks and duplicates, then transported by
Winshear personnel to the Certimin S.A laboratory in Juliaca, Peru. Samples are processed by
Certimin S.A in Juliaca and prepared sample splits are transported and assayed by the
CERTIMIN SA Laboratory in Lima, Peru. Samples are assayed for gold using a 30-gram fire
assay charge with an AA finish. Samples are also tested using a multi-element ICP-OES
package. No standards were inserted for the multi-element suite. All samples are returned to
the Company and stored at secure facility in Juliaca.
About Winshear Gold Corp
In 2019 Winshear Gold Corp. acquired the Gaban Gold Project in the Puno region, SE Peru and
the Tinka IOCG project in the Ica district, southern Peru, from Palamina Corp. The Company,
formerly Helio Resource Corp., has also delivered notice to the Tanzanian government to
commence arbitration to recover its investment in the SMP gold project in Tanzania.
For more information please contact Irene Dorsman at (604) 210-8751 or by e-mail at
irene@winshear .com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Richard D. Williams, P .Geo
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the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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