Gaia Metals Corp. Identifies New Targets and Unlocks Potential at Golden Gap, Corvette-FCI Property, James Bay Region, Quebec
VANCOUVER, April 16, 2020 - Gaia Metals Corp. (the "Company") (TSXV:GMC)(OTCQB:RGDCF)(FSE:R9G) announces that several significant findings have been made following the re-processing of historical ground geophysical data collected from the Golden Gap area at Corvette-FCI (the "Property"), utilizing modern methods and software. The key new findings from the re-processing and interpretation of the dataset indicate: - A distinctly different and yet to be drill tested trend of mineralization at Golden Gap, compared to the historical interpretation;
- Additional strike extensions are present; and
- Additional parallel to sub-parallel trends are present.
Revised Interpretation of Mineralized Trend and Strike Extensions
The original interpretation of data collected in 1998 from an induced polarization and resistivity ("IP-resistivity") survey over Golden Gap had outlined a broad anomalous east-west chargeability trend through the drill area. The historical drill area is highlighted by drill hole FCI-07-003, completed in 2007, which returned 10.5 g/t Au over 7m, and was followed-up to the east by seven additional drill holes completed over the 2007, 2010, and 2013 field seasons. The recently completed re-processing has refined this signature, outlining two distinctly separate trends - a primary and more intense trend to the north which strongly correlates to high-grade surface sampling (109 g/t Au and 50 g/t Au), and a less intense southern trend that does not correlate to high-grade surface sampling (see Figure 1).This is significant because the historical follow-up to the 10.5 g/t Au over 7 m drill intersection targeted the southern trend, which does not correlate to the mineralized zone in that drill hole.
The new interpretation indicates that the majority of the follow-up drill holes to the 10.5 g/t Au over 7 m intersection did not test the mineralized zone's potential strike extension to the east. This is because these drill holes did not test the northern trend. This includes several of the 2007/10 drill holes and all of the 2013 drill holes (see Figure 1 and Figure 2).
In addition, the recent 2019 sampling discovered new gold occurrences in outcrop along strike to the west (West Golden Gap showings), further supporting the interpreted trend in this direction and significantly amplifying the potential. The western trend outlined in the IP-resistivity data continues to the boundary of the survey, indicating it extends further west.
Additional Parallel Trends
The new interpretation has highlighted several additional high-priority trends of interest, characterized by similar geophysical response to the primary mineralized zone at Golden Gap. These areas are dominantly concentrated to the southwest and northeast of the main Golden Gap occurrence and correlate to mineralized surface samples of 1 to 3 g/t Au, including several of the 2019 West Golden Gap occurrences (See Figure 1).
Collectively, these targets are parallel to sub-parallel to the main mineralized trend and occur within an area of approximately 2.5 km east-west by 1.5 km north-south. Each of these prospective targets and trends remain to be drill tested.
Golden Gap Mineralization and Geophysical Signature
The historical drilling at Golden Gap has defined an anomalous gold-bearing zone over 1.6 km in strike-length and to a vertical depth of approximately 200-250 metres, which remains open in all directions. The more mineralized zones are commonly associated with deformed quartz veining proximal to the contact between mafic volcanics and sedimentary rock units, and contain elevated levels of disseminated sulphides (pyrite, arsenopyrite, chalcopyrite, and pyrrhotite). At surface, the mineralized horizon manifests as a large gossanous zone reflecting the associated sulphide content. The geophysical signature is characterized by a chargeability-high and resistivity-high, again reflecting this association with sulphide.
IP-resistivity is a ground geophysical survey well suited to detect near-surface disseminated sulphide mineralization (IP anomalies), as well as areas of alteration and/or silicification (resistivity anomalies). This geophysical tool is commonly used in greenstone hosted gold and base metal exploration and proven to be effective at qualifying drill targets, when paired with surface mapping and sampling. With the mineralization styles identified at Corvette-FCI, coupled with the thin overburden cover in the area, IP-resistivity offers an efficient sub-surface scan at good resolution and reasonable cost.
The re-processing of the historical IP-resistivity data from Golden Gap was completed by Dynamic Discovery Geoscience Ltd. of Ottawa, ON., a geophysical group experienced in Quebec greenstone geological settings and related mineralization styles.
Figure 1: Interpreted prospective trends at Golden Gap
Figure 2: Cross-section of northern trend, which was not tested by the 2013 drill holes
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration for the Company, a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Gaia Metals Corp.
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals, including platinum group elements, and lithium.
The Company's primary assets are the wholly owned Corvette Property and the FCI Property (held under Option from O3 Mining Inc., a recent spin-out from Osisko Mining Inc., for a 75% interest), located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950, E-mail: adrian@gaiametalscorp.com or visit www.gaiametalscorp.com.
On Behalf of the Board of Directors,
"ADRIAN LAMOUREUX"
Adrian Lamoureux, President & CEO
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 news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: Gaia Metals Corp.