VANCOUVER, BC / ACCESSWIRE / September 12, 2024 / Relevant Gold Corp. (TSXV:RGC)(OTCQB:RGCCF) (the "Company" or "Relevant Gold") is pleased to announce it has received its third exploration drilling permit and has commenced a phase one, 1,000-meter diamond core drilling program at the Burr Target, located within its Lewiston Project in the South Pass Gold Camp, Wyoming. The Burr target is located approximately 4 kilometers southwest along strike of the Heavy Hand target, where the company drilled widespread gold mineralization in 2023 (see Nov. 16, 2023 news release). The Burr target area features the historic Hidden Hand, Amanda, and Burr mines, which are prolific high-grade historic mines in the Lewiston District. This drill program is designed to 1) test the continuation of mineralized structures beneath these historic high-grade gold mines, and 2) seek to extend the strike length of the primary mineralized structures drilled at the Heavy Hand target in 2023 another 4km to the southwest within the larger >10km Lewiston District trend.
"This drill program at Burr represents a critical next step in expanding our understanding of the mineralized system at Lewiston. Historic mining at Hidden Hand and Burr mines focused on high-grade ore shoots that historically reported gold grades of up to 3,100 oz/ton Au (Pfaff 1978). These mines terminated when they hit the water table, and this target has been begging to be drilled ever since. In addition to testing below the high-grade historic mines, this drilling is testing another strong target 4 km southwest of the Heavy Hand target that we drilled in 2023, where 10 of 11 holes intersected shear-hosted gold mineralization. The results from this year will provide key insights to the strike potential within the broader Lewiston property. We are excited to build upon the success of our previous drilling and to continue advancing our exploration thesis at Lewiston," said Rob Bergmann, CEO of Relevant Gold.
The Burr Target
The Burr target area is an approximately 1 km long x 500 m wide mineralized shear zone corridor of greywacke-slate with intrusive granodiorite and metagabbro sills (figure 1). The 2024 drill program consists of 5-8 drill holes specifically targeting the down-plunge projections of the mineralized zones identified from surface structural mapping and historic mining data (figures 2 and 3) as well as the thickness and number of parallel mineralized shear structures within the structural corridor. Additionally, this aims to connect the mineralization at the Burr target to the broader >10km structural trend observed throughout the Lewiston District. Success with this drill program could allow the Company to demonstrate a more extensive mineralized system that stretches across multiple targets, further confirming the exploration thesis that South Pass hosts a district-scale orogenic gold system.
Figure 1. Geology map of Relevant Gold's Lewiston property depicting the locations of the 2023 drill program at Heavy Hand and the planned 2024 drill program at the Burr target, as well as the large >10km structural corridor of mineralization that connects these targets.
Figure 2. Cross section of the Historic Hidden Hand mine with bright red rectangle indicating the interpreted zone of mineralization from the historic mine workings.
Figure 3. A conceptual model of the Hidden Hand area combining historical descriptions of the mining operations, inferred locations of collapsed stopes, and geological mapping data (left) and a plan view geology map of the historic mine area (right). Ore-shoot plunges are assumed to be more or less parallel to the trend and plunge of boudin necks and mineral lineations documented in the area.
The 2024 drilling program at Burr is expected to be completed in early October with assay results anticipated before the end of the year.
About Relevant Gold Corp.
Relevant Gold Corp. is a North American gold exploration company founded by experienced exploration geologists and operated by a highly respected team with a proven record of significant value creation for shareholders. Relevant Gold is focused on the acquisition, exploration, discovery, and development of district-scale gold projects in the state of Wyoming - one of the most mining-friendly jurisdictions in the United States and globally.
On behalf of Relevant Gold Corp.,
Rob Bergmann, Chief Executive Officer
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For further information about Relevant Gold Corp. or this news release, please visit our website at www.relevantgoldcorp.com or contact Rob Bergmann, President and CEO, or Kristopher Jensen, Manager of Investor Relations, at 763-760-4886 or by email at [email protected].
Cautionary Note Regarding Forward-Looking Statements and Historical Information
This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events of Relevant Gold Corp. ("Relevant" or "Relevant Gold" or "the Company"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward-looking information. Forward looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
The scientific and technical contents of this release have been approved by Mr. Brian C. Lentz, CPG #11999, Chief Exploration Officer of the Company, who is a "Qualified Person" as defined by Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Lentz is not independent of the Company.
