Decade Resources Ltd.

  • ISIN: CA2427792056
  • Land: .

Nachricht vom 05.09.2018 | 14:30

Decade Resources: Drilling of the Montrose Zone at Depth Has Encountered Strong Mineralization

DGAP-News: Decade Resources Ltd. / Key word(s): Miscellaneous

05.09.2018 / 14:30
The issuer is solely responsible for the content of this announcement.


Stewart, British Columbia--(Newsfile Corp. - September 5, 2018) - Decade Resources Ltd. (TSXV: DEC) ('Decade' or the Company) is pleased to report that the Company has extended the drilling program at the Red Cliff based on visual results in the 2018 drill core. An update on drilling to date is summarized below:

  • Visible gold noted in core at depths exceeding 300m.

  • Gold occurs in a mesothermal system implying further depth extent.

  • Drilling has completed 53 holes to date on both the Waterpump and Montrose zone.

  • The area of the Waterpump and Montrose zones are located along 400m of length in a structure that has been identified over a 2.3 km length.

  • Testing below a high grade portion of the Montrose zone has encountered visible gold mineralization in chalcopyrite-pyrite stockworks in brecciated intrusive. Widths of the stockworks have been intersected over appreciable widths ranging from 3-10 m.

  • Of the sixteen holes completed on the Montrose zone, a total of 10 holes contain visible gold in the core associated with the chalcopyrite-pyrite stockwork.

  • Sulphide mineralization including sphalerite and galena veinlets form an envelope to the chalcopyrite-pyrite mineralization and extend the width of the potential gold bearing zones.

  • Testing is encountering the zone approximately 200-300 m below the drill collars and approximately 400 m below previous zone intersections north of and above the present drill pad. DDH-MON-18-52 was completed as a -60 degree hole that hit the Montrose zone at 361 m and stayed in the zone (partly down-dip) to 413 m. The zone contains sections of chalcopyrite stockwork with visible gold.  Vertical depth of the zone is projected to be 351 m below the highest intersection on the Montrose.

  • Drilling is using existing drill pads with present holes testing deeper than previous ones.

Present drilling on the Montrose zone is close spaced along the down-dip expression of the stockwork to trace the gold mineralization to depth. The goal at present is to block out the recently indicated high grade zone that is a minimum +100m long and approximately 400 m down-dip within the 400m of structure length drill tested to date. Width of the Montrose zone in this area appears to be from 8 to 22 m based on the modelling to date. Mineralization is also open to depth and along strike. Visual expressions of the drill assay results on drilling to date can be viewed on the 43-101 report and video shown under the Red Cliff project on the Company website at www.decaderesources.ca. There also appears to be a plunge to the high grade zone towards the SW which drilling will define. Previous drill intersections above and nearby the recent 2018 drilling include the following:

DDH No.*FromToCore Length**Gold g/t
MON-2011-9131.71140.618.928.10
MON-2011-11138.57146.047.4743.91
MON-2012-48233.02238.4115.394.53
including156.71157.931.8335.73
including223.02224.631.6226.23
including237.44238.410.9815.74
MON-12-59235.98241.625.646.77
MON-12-61173.93208.9935.067.83
including176.22184.918.6912.42
including200.55208.998.4518.11

 

*Holes above have previously been reported.
** True width is believed to be 70 % of intersection length.

A photo of gold in core in DDH-MON-18-49 is shown below. Other photos of the gold in DDH-MON-18-49 can be seen on the Company website.

The drill has been moved and further drilling is being conducted 50 m south of the initial 2018 Montrose drilling.

The Company is undertaking a non-brokered private placement of flow-through units to raise aggregate gross proceeds of up to $650,000 for expenditure on the Red Cliff project.

Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the Company and is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.

Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the 'Golden Triangle' area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca which is presently being updated. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.

ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.

'Ed Kruchkowski'
Ed Kruchkowski, President

'Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.'

'This news release may contain forward—looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.'


Figure 1: Gold in core in DDH-MON-18-49

To view an enhanced version of the Gold in Core in DDH-MON-18-49, please visit:
[http://orders.newsfilecorp.com/files/3615/38458_a1536082754109_69.jpg]

Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/38458


05.09.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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