(TheNewswire)
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Vancouver, B.C – TheNewswire - September 24, 2024 – Bathurst Metals Corp. (TSX-V: BMV OTC: BMVVF) (“Bathurst” or the “Company”) is pleased to announce assay results of their summer fieldwork on the Peerless Gold Project. The purpose of the summer fieldwork is to develop additional drill targets on other inferred, east-west trending structures with gold in soil geochemistry in close proximity to ultramafic contact. An area now called the Gamma Zone was found to contain high gold in soil concentrations in the right geological/structural setting. These settings are one of the most important features in gold deposition within the entire Goldbridge Mining Camp and have been proven to occur in several areas on the Peerless Property. Based on this summer’s results the Gamma Zone is another zone on the Peerless that is ready for drill testing.
KEY POINTS – Peerless Project
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Structural intersections near but not just within the ultramafics is one of the keys in the formation of the gold deposits worldwide including the Bralorne Mining Camp.
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The volcanoclastic/ultramafic contacts where the east-west structure crosses remains untested by drilling at Peerless.
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Significant gold mineralization occurring within ultramafics, away from crosscutting thrust fault. Ultramafics are typically a poor host for gold deposits, however, the company encountered potentially economic gold grades in February 2024 from diamond drill hole PR24-004 that returned 6.3 grams/tonne gold over 5.1 metres.
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Company geologists have outlined several areas within the extensive, anomalous gold and base metal in soil geochemistry where other east-west structures are occurring and crosscut the thrust fault.
Lorne Warner P.Geo, President of Bathurst Metals Corp. States “ Based on our successful drilling program in February 2024 company geologists believe we have uncovered the controls to gold mineralization. We commenced a limited summer fieldwork program collecting detailed soil samples in Gamma Zone area of inferred intersecting structures in close proximity to the ultramafic units resulting in highly anomalous gold in soil anomalies. The results helped in defining the geometry of the structures and location of the volcanoclastic/ultramafic structural contact. No drilling has yet been completed in this area.”
Location
The Peerless Property is situated in the historic Bralorne-Gold Bridge Mining Camp area in southwest British Columbia (Figure # 1) The property has excellent all-season access to the center of the property. Access can be had by following Highway 40 east from the hamlet of Gold Bridge 10.5 km to the Tyaughton Lake turn-off and following the Tyaughton Lake access road to within 200m of the Peerless showings at the center of the property.
Figure #1- Regional Location Map
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The company’s size and location of the Peerless Claims as indicated in Figure # 2 are in close proximity to known mining occurrences and new discoveries, including being in the same lithological and structural geological settings. Anomalous gold in soil geochemistry as displayed in Figure # 2 infers a strong special relationship to the thrusts related to the ultramafics with a north-east trend.
Figure # 2 – Goldbridge Area Compilation Map
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As indicated in Figure # 3 the Peerless Project contains structurally bound ultramafics surrounded by volcanoclatic units which is similar both in rock types and structural settings to the historic Bralorne Camp.
Figure # 3 – Geological/Structural Compilation of Peerless Zone Area.
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Fieldwork started on the Gamma Area where wider spaced soil sampling returned several highly gold anomalous values of up to 4600 ppb. Additional, detailed soil sampling has now been undertaken with samples already submitted for analysis. In addition, it was observed that the location sampled is situated along the footwall contact of the ultramafics, a classic location within this mining camp for gold deposits.
As shown in Figure #4 the detailed soil sampling confirmed the previous gold in soil anomaly but also indicated an inferred trend to the zone which truncates at the structural footwall contact between the volcanoclastic and ultramafic units. Listwanitic alteration was also observed in the untramafics however, the gold anomalies are only situated in the volcanoclastic.
The Gamma Zone area is ready for drill testing that has not been completed in the area.
Figure # 4 Gamma Zone Area - Plan View of gold in soil assay results
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Qualified Person
Mr. Lorne Warner, P.Geo., is a "Qualified Person" as defined by National Instrument 43-101 and has approved the scientific and technical information included in this news release for dissemination.
On behalf of the Board of Directors
Bathurst Metals Corp.
For more information contact Harold Forzley, Chief Executive Officer
604-783-4273
Neither 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.
About Bathurst Metals Corp.
Bathurst Metals Corp. is an exploration-stage company engaged in the acquisition, exploration, and development of mineral properties in Nunavut and British Columbia, Canada. The Company holds a 100% interest in the Turner Lake, TED, McGregor Lake, Speers Lake, Gela Lake and McAvoy Lake Projects in Nunavut and the Peerless Property a gold /silver prospect in the historic Bralorne Camp in British Columbia.
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