Toronto, November 18, 2021 – Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to announce that the Company has completed its Fall 2021 diamond drill program comprising 2,838 metres in eight holes (Table 1) on its Goodfish-Kirana property in the Kirkland Lake gold camp. The objective of the program was to drill-test the extension of the A Zone at depth and along strike. Warrior Gold is pleased to report that all holes intersected the A Zone structure (see Map 1). The Company anticipates receiving assay results in early 2022.
Map 1. Location of Fall 2021 diamond drill holes
The Company is also pleased to report
that drill hole GK-21-050 intersected visible gold mineralization in a quartz-carbonate vein in mafic volcanics at 419.3 m downhole, approximately 60 m beyond the A Zone footwall (see Figure 1).
Figure 1. Grains of visible gold in GK21-050 at 419.3 m downhole.
Table 1. Drill Hole Collar Data
A downhole optical survey for the eight drill holes using Optical Teleview Imaging (“OTV”) has been initiated. Oriented photographs of the diamond drill hole walls will be captured and structural measurements of features observed, such as veining and shear fabrics, will be taken. The OTV data will be used to assist in validating and refining the current geological model of the A Zone structures. This information is critical for understanding the structural controls on the mineralized intersections.
The Company also announces that GoldSpot Discoveries (“GoldSpot”) has mobilized to site to commence a Multi-Parameter Airborne Survey System (“M-PASS”) over the Company’s KLC and Arnold properties located to the east of the Goodfish-Kirana property. GoldSpot will utilize their newly developed M-PASS system to co-collect magnetic and VLF datasets. Due to supply chain issues, the acquisition of LiDAR and Radiometrics announced in Warrior Gold’s news release of September 21, 2021 will be postponed to the spring of 2022. The 780 line-kilometre triaxial magnetic and VLF high resolution survey is expected to take five days to fly.
Danièle Spethmann, President & CEO, stated, “We are extremely pleased with the completion of the Fall 2021 drilling program. Our objectives were met, our diamond drilling crews, field team and contractors performed their work effectively, efficiently and professionally. We look forward to announcing the results in early 2022. We also look forward to receiving data from GoldSpot’s airborne work on Warrior Gold’s recently acquired KLC and Arnold ground, as this will provide us with the foundational work with which to advance these properties.”
About the KLC and Arnold Properties
The KLC and Arnold properties are transected by over 12 km of the Kirkland Lake Fault, a deep crustal scale deformation zone that is intimately related to the gold deposits in the Kirkland Lake gold camp and that also hosts several known kimberlite bodies. The KLC-Arnold land package is proximal to the east-west-trending Victoria Creek Deformation Zone which is associated with Agnico Eagle’s Upper Beaver complex.
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange-listed company that has consolidated significant and prospective land packages in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are hosted in the Abitibi Greenstone Belt, one of the world’s best-endowed greenstone belts with +200 million ounces of gold produced to date. The properties are host to regional and property-scale mineralized structures that are considered to be second order structures off the Larder Lake Cadillac Deformation Zone – LLCDZ – the regional structure in the belt known to be spatially associated with the gold mines in the camp.
The properties assembled include: the 100%-owned Goodfish-Kirana, the Arnold property and the optioned KL West (KLW) and KL Central (KLC). Warrior Gold’s land position in the Kirkland Lake Gold Camp covers 19,307 ha, comprised of 376 unpatented and 29 patented claims, and ranks the Company as one of the largest landholders in the Kirkland Lake region.
The technical information contained in this news release has been approved by Susan Lomas, P.Geo. who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For additional information please contact:
Danièle Spethmann, P.Geo.
President & CEO
+1 647 344-3433
+1 604 353-4080
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, 2021 and the second quarter ended September 30, 2021, 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.