Toronto, ON - August 20, 2020 – Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to announce the completion of its diamond drill program at the Goodfish-Kirana project in Kirkland Lake, Ontario which commenced on June 30th, 2020. All samples have been delivered to the ALS laboratory in Timmins as of August 17th with results anticipated mid-September.
The completed drill program totalled 2,895 m in nine diamond drill holes with seven drill holes in the “A” Zone and two drill holes in the “C” Zone. The drill program metreage was increased from the planned program of 2,300 m in ten drill holes as deeper holes were drilled on two targets (GK20-026 EOH 552 m and GK20-027 EOH 555 m) in order to fully test the targets. Drill hole collar data is included in Table 1 with location maps below.
The drill program was designed to test the “A” Zone downdip and strike extension to the east and west, as results from the previous drilling campaigns indicated that the “A” Zone is open in all directions. Planned drilling for the “C” Zone was designed to better determine the orientation of the known mineralization and associated structures.
“As drilling progressed, the program was modified to test the targets at greater depths. For the first time, the Company drilled to depth targeting structures at approximately 350 m vertical depth. An oversubscribed financing and efficient drilling crew allowed for a greater number of metres (25% increase) to be drilled than originally planned,” stated Danièle Spethmann, Warrior Gold CEO, who added, “We are very pleased with the work of the diamond drilling company and our field crew in completing this drill program with incredible productivity and skill, especially during this COVID-19 time where Warrior Gold instituted additional protocols to comply with the Ontario Ministry of Health requirements.”
Table 1. Drill Hole Collar Data
Warrior Gold also announces that the Company has initiated a field mapping program on the sites identified by the Company’s targeting exercise in March 2019. As part of a collaboration with Western University in London, Ontario, recently graduated junior geologists will be working in the field alongside the Company’s geologists. The Company and Western University’s Department of Earth Science are collaborating to gather data to better understand the mechanisms of gold mineralization north of the Timiskaming Unconformity. The Company expects that the research will assist in refining its exploration targeting strategies using new technologies and scientific approaches.
“We are pleased to be collaborating with Western University on our Goodfish-Kirana project and believe that the support of Dr. Banerjee and his students will contribute to a better understanding of the gold mineralization mechanisms on the property,” commented Danièle Spethmann, Warrior Gold CEO.
Dr. Neil Banerjee is an associate professor in the Department of Earth Sciences at Western University where he holds an NSERC Industrial Research Chair in Advanced Mineral Exploration. He is recognized as a leading researcher in modern and ancient hydrothermal systems, biogeochemistry, and mineral exploration, particularly in ancient greenstone belts. He has made important contributions to the exploration and development of gold projects in Quebec, Ontario, Manitoba, and Northwest Territories in Canada and worldwide. His group combines fieldwork, laboratory, experimental, and computational approaches to create value over the life of the mine cycle. His team has developed an innovative approach using cutting-edge synchrotron technology that provides a powerful tool to address industry-relevant problems using high-fidelity analytical techniques that are both rapid and cost-effective. This innovation provides trace- element analysis and mapping of minerals with ppm-detection limits, identifying the speciation of elements to improve geometallury, and determine the mineralogical make-up of geological materials, mineral processing residues, and mine wastes. By utilizing these techniques in combination, a richer, more complete characterization of these complex materials is now possible to make informed decisions.
Dr. Neil Banerjee commented, “Over the last 15 years working in the Kirkland Lake gold camp I have realized a careful, scientific approach to exploration is key to achieving the best results. My students and I are excited to partner with Warrior Gold in their exploration efforts on the highly prospective Goodfish-Kirana project.”
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange-listed Company that owns the Goodfish-Kirana property located 5 km from the town of Kirkland Lake, Ontario. The property is located in the historic Kirkland Lake gold camp which is situated in the prolific Abitibi Greenstone Belt, recognized as one of the world’s highest-grade greenstone belts with over 200 million ounces of gold produced to date.
The Goodfish-Kirana property is roughly 11.5 km x 3 km (34 km2) and contains three major structural trends: the east-west trending Kirana Deformation Zone; the northeast trending Goodfish Deformation Zone; and the Victoria Creek Deformation Zone on the recently acquired Sutton claims on the northeast side of the property. The Property contains numerous historical gold showings, as well as 18 historical pits and shafts.
For additional information please contact:
Danièle Spethmann, P.Geo.
President & CEO
Warrior Gold Inc.
+1 647 344-3433
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.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company’s Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2020, which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.