International Samuel Exploration is pleased to announce that it has commenced the 2018 exploration program on it’s 100% owned 27,340 hectares LGM Property (Property) a district-scale exploration project located in the heart of British Columbia’s Golden Triangle.
The Company just completed a 178 line kilometre airborne magnetic survey over portions of the property with the results expected shortly. In addition, the Company has mobilized crews to begin the first stage of its exploration program which consists of construction on helicopter pads, sampling and mapping of the underexplored areas of the LGM Property.
With the drill permits already in place, the second stage is to undertake a drill program on the Lucifer showing. The Lucifer property’s previous exploration work by Noranda (1990-1991) identified a 400 meter wide, 1.2 kilometer long, north-northeast trending zone of hydrothermal alteration associated with strongly elevated gold concentrations and base metal soil geochemical anomalies. The BC Ministry of Mines Minfile database documents two shallow drill holes completed in 1991 which reportedly intersected 15.1 g/t gold over 1.36 meters and 0.7 g/t gold over 5.70 meters. In addition to the mapped alteration zone and strong soil geochemical anomalies Noranda identified multiple strong “gold in stream” anomalies in the central part of the property which have not been followed up. The Company intends to verify the historical exploration results reported and drill test the hydrothermal alteration.
The target environment at the Project is a volcanic setting (Stuhini Group and Hazelton Group Volcanics) known to host mineralization elsewhere in the immediate area, as well as prospective contact points with the Jurassic Unconformity.
The LGM Property (Lucifer, Grizzly and Micky Davis) has extensive claim borders with:
- The Ball Project being advanced by Antofagasta and Evrim Resources Ltd. under a US$31M earn-in.
- The Hank project, where Golden Ridge Resources is spending $5.24m as part of their earn-in.
- The Voigtberg property, acquired by Tower Resources Ltd. from Gold Corp. is located between the Grizzly and Lucifer showings on the LGM Property.
Since 2005 infrastructure throughout the Golden Triangle has steadily improved and several of the known porphyry copper gold prospects including Red Chris, Galore Creek, and the KSM Project (Seabridge Resources) have either made production decisions or reported positive feasibility studies. The recent commencement of production for the Brucejack Gold Deposit (Pretium Resources) combined with the commencement of production at Red Chris, the recent discovery announced by GT Gold Corp. of significant gold mineralization associated with “gold in soil” anomalies at the Saddle Zone and a resurgence of exploration activity have re-established the Golden Triangle as one of BC’s most important mining districts.
Technical disclosure in this news release has been reviewed and approved by Vice President of Exploration of International Samuel Exploration Corp. Derrick Strickland P. Geo., a Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact:
International Samuel Exploration Corp.
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Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events or the Company’s future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.