Gold79 Announces Trenching Results from the Tyro Main Zone; Trench 1 Returned 39.7m of 1.14 g/t Au Including 9.5m of 2.08 g/t Au
Gold79 Announces Trenching Results from the
Tyro Main Zone; Trench 1 Returned 39.7m of
1.14 g/t Au Including 9.5m of 2.08 g/t Au
Ottawa, Ontario--(Newsfile Corp. - July 11, 2024) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF)
("Gold79" or the "Company") is pleased to announce that it has received the assay results from its
recently completed trenching program along the Tyro Main Zone which has confirmed our understanding
of the geology, added new potential high-grade targets for the next drill campaign and extended the zone
along strike to the northeast.
Highlights from the program include:
Confirmed the geologic model where the White Spar Fault intersects the Tyro Main Zone. Trench 1
(T1) returned 39.7m of 1.14 g/t Au including 9.5m of 2.08 g/t Au. In 2023, drilling returned 51.1 g/t
Au over 9.1m (GC23-28) about 40 to 50m below these surface exposures.
Identified new fault structures intersecting the Tyro Main Zone trending north to northwest (similar to
the White Spar fault), providing additional high-grade potential zones.
Extended the Tyro Main Zone to the northeast by approximately 40m with Trench 13 (T13) returning
4.7m of 7.64 g/t Au, where it remains open to the northeast.
Derek Macpherson, President and CEO stated,
"The data collected in this low-cost exploration effort
has improved our understanding of the Tyro Main Zone geology, particularly the impact of the White
Spar fault on the SW portion (Decimal Hill Zone) and the high-grades previously drilled at this
intersection. With this data, we are starting to plan the next phases of drilling potentially allowing
Gold79 to deliver a maiden resource that would be higher-grade and larger than the current deposits
in the region."
A total of 15 trenches were excavated across 358m with a total of 217 chip-channel samples collected.
Highlights of the analytical results are presented in Table 1.
Table 1. Summary of the Tyro Main Vein trenching program.
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In addition to the sampling, all trenches were mapped with the results presented in Figure 1.
Figure 1: Geologic map of the Tyro vein system showing recently completed trenches (T1-
T15), Phase 1 and Phase 2 drill hole locations and surface rock sample gold values.
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Summary
The trenching program has provided Gold79 a combination of better geologic control and a higher
sample density. The result is greater confidence that the White Spar fault was active at essentially the
same time as the Tyro Main vein but movement continued after the Tyro vein allowing for downward
offset of the Decimal Hill zone. This better explains the gold values at Decimal Hill (Table 1: T1, T2, T3
and T3B). Additionally, the results serve to better constrain the limits of gold-bearing veins surrounding
the shallow pit; important widths and grades have been documented on 3 sides (Table 1: T4, T5, T6 and
T15). In the NE Tyro zone, trenches have exposed broad zones of chalcedony veining and breccia with
variable widths and grades (Table 1: T7 thru T12). Most importantly, the northernmost trench, T13,
identified beneath alluvial cover a zone of silicification hosting quartz veinlets and breccia with 7.64 g/t
Au over 4.7 metres. This brings meaningful gold grades closer to our Frisco Graben target where the
suspected gold zone is concealed beneath vapor-dominated alteration.
The Tyro Main Zone is composed of several gold-bearing stages emplaced into a NE-trending, steeply
dipping structural corridor which has seen repeated movement. This low sulfidation, epithermal vein
system can be divided into 3 zones (SW to NE; Figure 1): 1. Decimal Hill; 2. Tyro Mine Zone; and, 3. The
Tyro NE Zone.
These zones are essentially defined by north-northwest-trending faults which were likely
operative both during and after the Tyro mineralizing events.
Figure 2. Geologic map of the Decimal Hill Zone showing mine workings, drill holes, trenches
and surface samples.
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Decimal Hill Zone
The Decimal Hill zone, covering about 300 metres of the Tyro Main vein southwest of the mine, is
situated at the intersection of the Tyro and White Spar structural corridors (Figure 2). In addition to the
structural intersection, the area hosts the convergence of several rhyolite dikes whose faulted contacts
may have provided avenues of ingress to the gold-bearing fluids. This zone is characterized by both
north- to northeast-trending veins and breccia and NW-trending veins and breccia. The veins here lack
the textural banding, adularia and reveal diminished gold values (i.e. <3 g/t Au; Figure 3).
This trenching campaign, along with the geologic mapping, has confirmed that the Decimal Hill Zone
contains both NW- and N-NE-trending veins suggesting that both structural corridors were operative
prior to and during the mineralizing stages. The White Spar trend clearly hosted a greater component of
post-mineral movement. This later movement is manifested by relatively small offsets of the veins along
the Tyro structural corridor resulting in the structural juxtaposition of high-level vein textures and gold
grades (Figure 3) with textures and gold grades more indicative of the 'bonanza' or boiling zone (i.e. Tyro
Mine zone; Figure 4).
Figure 3: Sample No. 0743 (1.15 g/t Au): Hydrothermal breccia composed of Precambrian
granite and multi-stage vein fragments including quartz-replaced lattice texture, massive white
chalcedony and crustiform-banded chalcedony-adularia rimming massive quartz fragments,
Decimal Hill Zone.
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Tyro Mine Zone
The Tyro Mine Zone, shown in Figure 5, a N30
o
E-trending zone of sub-parallel and sub-vertical veins,
veinlets and hydrothermal breccia, extends from the White Spar fault intersection to the top of Tyro Hill, a
distance of about 430 metres (Figure 5). The zone hosts most of the mining activity conducted between
1915 and 1941 and in the 1980s. This includes the Tyro Shaft, reported to be 500 feet deep, the 200
Level and a slot pit developed on the highest-grade portion of the vein. The 200 Level defines the lowest
level of selective production although there was some development along the vein to the 300 Level. The
200 Level defines the bottom of the slot pit and hosts a broad zone, 20 to 30 metres wide, of NE-
trending chalcedony-adularia-calcite veins (Figure 4).
Only two holes have been drilled beneath the Tyro
Mine Zone, Hole Nos. GC23-23 (44.4m at 2.01 g/t Au) and GC23-24 (25.9m at 2.27 g/t Au).
Figure 4. Sample No. 0184 - 13.27 g/t Au: Crustiform-banded quartz-chalcedony-adularia vein
with internal hydrothermally brecciated vein fragments cemented by olive-green chalcedony,
Tyro Mine Zone.
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Figure 5. Geologic map of the Tyro Mine Zone showing mine workings, drill holes, trenches
and surface samples.
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Northeast Tyro Zone
The Northeast Tyro Zone extends from the top of Tyro Hill (Figure 1) at N60
o
E for about 300 metres
where it disappears beneath an alluvium filled valley before it intersects the Frisco Mine fault, the
southwest margin of the Frisco Graben. This zone commences at the intersection of a NNW-trending
post-mineral fault (Figure 5) where the Tyro structural corridor rotates clockwise about 30
o
and flattens
slightly to 70-80 degrees southeast. The initial 100 or so metres of the vein is characterized by a zone of
silicified amphibolite and granite with weak to moderate chalcedony veinlets and stockwork. Trenches
T7 and T8 were cut across this zone (Figure 5) with locally anomalous gold values. Trenches T9, T10
and T11 traverse a broad zone of strong quartz-chalcedony veins, stockwork and vein breccia with
variable gold values, i.e. T11 - 7.6m @ 4.43 g/t Au. Between T10 and T11, a 60 metre segment of the
vein complex, up to 5m wide, has been stoped to about 20m below the surface. Drilling beneath this
zone by Gold79 in 2021 traversed up to 21.3m @ 2.0 g/t Au (GC21-15). The NE extent of the Tyro vein is
obscured by dumps and alluvium where T13 was excavated to identify a concealed extension to the vein.
Trench 13 traversed a zone of silicified amphibolite and granite containing quartz-chalcedony veinlets
and breccia with 4.7m @ 7.64 g/t Au. The Tyro structure remains concealed by alluvial deposits for about
400 metres to the northeast where it intersects the Frisco Mine fault characterized by high-level silica-
clay-hematite alteration.
Figure 6. Geologic map of the Northeast Tyro Zone showing mine workings, drill holes,
trenches and surface samples.
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Closing of Private Placement Financing