VANCOUVER, British Columbia, Jan. 15, 2021 (GLOBE NEWSWIRE) — Clarity Gold Corp. (“Clarity” or the “Company”) (CSE: CLAR, OTC: CLGCF, FSE: 27G) is pleased to report on progress from a recent site visit by Clarity personnel as part of 2021 exploration planning, and a summary of ongoing data interpretation and compilation where 25% of the 172 drill holes from previous operators on the whole project area intercepted visible gold, as noted in drill logs of the newly optioned Destiny Project located 75 km northeast of Val d’Or, Quebec within the prolific Abitibi Greenstone Gold Belt.
Highlights of the site visit and ongoing data compilation and interpretation:
- Viewed historic drill core of the project stored in Val d’Or
- Collected 24 samples of drill core for geophysical rock property testing
- Engaged Abitibi Geophysics to conduct data compilation and robust inversion
- Visited the project site to evaluate conditions and access in advance of applying for drill permits
- Met with additional potential key contractors, professionals, and suppliers
- 65 intercepts within with an average width of 0.71m assayed above 10 gpt Au within 43 holes of the 172-drill hole database
- 43 (25%) of 172 drill holes intercepted visible gold
- Collected multimedia and video footage to aid in compiling historic data
Ongoing Data Compilation and Evaluation
Since entering into the Option Agreement to acquire the Destiny Project, Clarity Gold’s team has been diligently compiling and interpreting all available data. Of the 172 known diamond drill holes on the entire property, 43 (25%) of them report visible gold in the drill logs. 38 of these holes are within the DAC zone where the 2011 resource is located.
|Zone Name||Number of Holes|
with Visible Gold
|Total Number of|
|Outside DAC, Gap,|
Darla and West
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7f8bbfec-6fec-4456-9225-35633e40332e.
Figure 1 – Photo of Visible gold in drill core from previous operator in a 2006 drill hole. This image is from within an interval of 1.0 m in drill hole DES06-85 from 221.70 m that assayed 167 g/t Au within the DAC zone.
“As we continue planning an exploration and infill drill program it is important to continue to characterize the project.” commented James Rogers, CEO of Clarity. “The number of reported visible gold occurrences in the previous drilling is no surprise given the high-grade intervals previous operators have reported throughout the project area. The Clarity team is excited to get to work on site and continue supporting the Destiny project’s merit as an exciting Abitibi gold project.”
The average depth of drilling below surface is approximately 220 m over the project area. The DAC Zone, where the 2011 resource is located, has seen the deepest drilling with an average depth of approximately 275 m below surface and only 3 holes are 600 m or deeper, with the deepest being approximately 710 m below surface which confirmed the presence of the mineralized structure at depth and intercepted anomalous gold. The coarsely drilled Gap zone immediately on strike to the east of the DAC has seen limited drilling with only 4 holes deeper than 200 m to a maximum depth below surface of only approximately 360 m.
“The Abitibi is a region where mines operate to depths of greater than 2,000 m. The limited deep drilling and high-grade intercepts encountered on the Destiny project present an excellent case for additional discovery and expansion for Clarity’s flagship project” stated Michel Robert, advisor to Clarity.
Completion of Recent Site Visit and Ongoing Planning
The drill core is securely stored in a fenced yard within the city of Val d’Or where it is neatly racked or palletized and easily accessible for review. Clarity personnel were able to visit the drill core and twenty-four (24) samples were taken for representative rock properties testing conducted by Abitibi Geophysics. The results of this testing will aid Abitibi and the company in further characterizing the rocks through a comprehensive multi-technique geophysical inversion. This will help us build a better understanding of previous geophysical survey results and continued interpretation and targeting as we advance the understanding of the project.
The crew drove on well maintained, surfaced roads from Val d’Or, an epicenter for mining and exploration activity within the Abitibi region, approximately one hour to the project area. The site is easily accessible with a network of drill trails throughout the property area.
Additionally, Clarity personnel met with several local contractors and suppliers in support of planning and budgeting for the upcoming 2021 exploration program.
“We are incredibly happy with the completion of this site visit, it marks the commencement of boots on the ground at Destiny.” adds James Rogers, CEO of Clarity. “Being on site allowed us to gain additional insight for planning and collect further data that will continue building our understanding of the opportunity within the Destiny project. Thanks to our team, we have already started our efforts to map out the strategy for the months ahead.”
Mr. Rory Kutluoglu P. Geo. is the Qualified Person (“QP”) under NI 43-101 for the technical information in this news release and has reviewed the appropriate and available data for the Destiny Project and approves the technical contents of this news release.
About the Destiny Project
The 5,013 ha Destiny Project is located in the prolific Abitibi Greenstone Belt where more than 180 million ounces of gold have been produced historically and lies along a major structural break which is largely underexplored. The project has excellent infrastructure, with road access approximately ~75 km NNE of the city of Val d’Or and has considerable work done to date including over 50,000 m of diamond drilling.
Gold mineralization occurs in high-grade quartz veins within shear zones. Salient results from previous drill programs on the Destiny Project range from 1.5 g/t over 1.5 m to up to 167 g/t over 1.0 m and multiple double-digit grades in between.
For a more detailed account, the reader is encouraged to refer to the Company’s website, the press release published on November 30, 2020, or the Technical Report entitled “NI 43-101 Technical Report and Resource Estimate of the DAC Deposit, Destiny Property, Quebec” dated March 1, 2011, authored by, Todd McCracken, P. Geo., and filed by Big Ridge Gold Corp. on Sedar on March 7, 2011.
Clarity Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold projects in Canada. The Company has entered into an option agreement to purchase 100% of the Destiny Project, Clarity’s flagship asset, a gold-focused project in the mineral rich Abitibi region in Quebec. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “CLAR”. To learn more about Clarity Gold Corp. and its projects please visit www.claritygoldcorp.com.
ON BEHALF OF THE BOARD
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: [email protected]
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements in this news release include, but are not limited to, statements regarding that the new advisory board member’s technical experience and track record of management and project evaluation will be immensely valuable to the Company. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Risks that could change or prevent these statements from coming to fruition include, but are not limited to, general market conditions and other factors beyond the direct control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.