African Queen Mines comes up empty at Gold Run

Stockwatch Daily - - MINES & METALS - Mr. Ir­win Olian re­ports

AFRICAN QUEEN Mines Ltd. has re­ceived fi­nal as­say re­sults from its 2017 di­a­mond drilling pro­gram at the Gold Run prospect lo­cated near Atlin, B.C. The Gold Run prospect lies along the Pine Creek val­ley, com­menc­ing ap­prox­i­mately 650 me­tres to the east of the com­pany’s per­mit­ted Yel­low­jacket mine (see news re­lease dated Oct. 6, 2016). The ab­bre­vi­ated drill pro­gram was con­ducted at the end of the 2017 ex­plo­ration sea­son. Four short holes, rang­ing in depth from 38.7 me­tres to 102.1 me­tres, were drilled to test the east­ern strike ex­tent of the fault struc­ture that hosts the gold min­er­al­iza­tion at the Yel­low­jacket mine. This par­tic­u­lar area has been the site of com­mer­cial placer min­ing op­er­a­tions over many decades.

Drilling was com­pleted by an Atlin-based drilling pro­fes­sional uti­liz­ing a 2016-built Zinex Min­ing deep-hole drill rig mounted in a cus­tom drill shack with rod-han­dling ca­pa­bil­i­ties. NQ-sized drill core was used for the first three holes; how­ever, due to drilling dif­fi­cul­ties re­lated to the rock en­coun­tered, HQ core was used on the fi­nal hole. Drill core sam­ples were pro­cessed by Bureau Ver­i­tas Min­er­als in White­horse for sam­ple prepa­ra­tion and then for­warded to its Van­cou­ver lab­o­ra­tory for analy­ses.

All four holes in­ter­sected the Pine Creek fault struc­ture with strong clay gouge and brec­cia­tion present. Two of the holes, YJ17-02 and YJ17-03, with depths of 69.8 me­tres and 38.7 me­tres, re­spec­tively, had to be aban­doned prior to reach­ing their tar­get depths due to drilling prob­lems. Gold val­ues were trace in the first three holes.

Drill hole YJ17-04, drilled to a depth of 67.4 me­tres, was a 650 me­tre stepout to the east from the Yel­low­jacket mine. This hole showed strong sil­ica al­ter­ation and quartz stock­work­ing. Al­though gold val­ues in this hole were low, they were el­e­vated up to 0.22 gram per tonne in the favourable al­ter­ation zones con­tain­ing list­wan­ite, bleached and stock­worked an­desite, and sili­ci­fied iron-car­bon­ate al­tered ul­tra­mafic. These al­ter­ation sig­na­tures in­di­cate flu­ids of the same min­er­al­iz­ing event as hosts the gold min­er­al­iza­tion at the Yel­low­jacket mine. The Yel­low­jacket mine min­er­al­iza­tion shows het­ero­gene­ity to the gold grain dis­tri­bu­tion due to a strong nugget ef­fect.

African Queen’s pres­i­dent, Ir­win Olian, stated: “Al­though we are dis­ap­pointed with the an­a­lyt­i­cal re­sults from this small drilling pro­gram, which failed to yield sig­nif­i­cant gold num­bers, we are happy to see that the min­er­al­iz­ing fault struc­ture that hosts the gold at the Yel­low­jacket mine con­tin­ues to the east along strike. The na­ture of the min­er­al­iza­tion sug­gests the pos­si­bil­ity that ad­di­tional drilling of deeper holes could po­ten­tially in­ter­cept eco­nomic gold val­ues.”

The Gold Run prospect rep­re­sents one of 12 key zones, in ad­di­tion to po­ten­tial ex­pan­sion of the Yel­low­jacket mine, iden­ti­fied for drill test­ing. Fur­ther tar­gets will be de­vel­oped and ad­di­tional drilling will be un­der­taken on a re­sult con­tin­gent ba­sis. The com­pany now con­trols 51 min­eral claims, three placer claims and one placer lease cov­er­ing an ag­gre­gate of 291.54 square kilo­me­tres of strate­gic ground in the his­tor­i­cally sig­nif­i­cant placer min­ing ar­eas as­so­ci­ated with many of the ma­jor creeks in the Atlin district. The per­mit­ted Yel­low­jacket gold mine is in­cluded within these tenures. The pre­pon­der­ance of its tenures com­prises min­eral claims cov­er­ing struc­tural trends within litholo­gies favourable for host­ing hard-rock gold de­posits.

Linda Dandy, PGeo, a qual­i­fied per­son within the mean­ing of Na­tional In­stru­ment 43-101, has re­viewed and ap­proved the tech­ni­cal por­tions of this news re­lease. Ms. Dandy is pro­vid­ing on-site guid­ance at the project. Over­all project lead­er­ship at Yel­low­jacket is be­ing pro­vided by Dr. Rein­hard Ram­dohr, who was on site in 2016 and 2017.

About African Queen Mines Ltd.

The com­pany is an ex­ploratory re­source com­pany en­gaged in ex­plo­ration and de­vel­op­ment of min­eral prop­er­ties in Canada and Africa. It is presently fo­cus­ing

on de­vel­op­ment of its Yel­low­jacket gold project in Atlin, B.C., which cov­ers an ag­gre­gate of ap­prox­i­mately 291.54 square kilo­me­tres. The com­pany has its ex­ec­u­tive of­fices in Van­cou­ver, Canada. The com­pany was in­cor­po­rated un­der the laws of the Prov­ince of Bri­tish Columbia, Canada, on April 30, 2008, and re­ceived cer­tain south­ern African as­sets in a spinoff trans­ac­tion re­lated to the ac­qui­si­tion of Pan African Min­ing Corp. by Asia Thai Min­ing Co. Ltd.

We seek Safe Har­bor.

Wil­liam Ben­jamin Cata­lano, Ardito Mar­to­hard­jono, Ir­win Alois Jr Olian, Ed­ward Alexan­der Schiller, Gre­gory Brian Sparks, Jennifer Tina Tod­hunter

(AQ) Shares: 114,216,051

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.