First Results From Phase 1 Surface Program At Freeman Creek Gold Property
VANCOUVER - Gaia Metals Corp. reported the first batch of analytical results for samples collected during the recently completed Phase I surface program at the Company's wholly owned Freeman Creek Gold Property in Idaho. The Property is located approximately 15 km northeast of Salmon, ID, and hosts excellent access via paved highway and a network of gravel roads and trails.
The initial batch of rock sample assays has been received from the Company's inaugural exploration of the Property and confirms significant gold-silver (+/- copper-lead-zinc) mineralization at both the Gold Dyke and Carmen Creek prospects. Highlights include: Strong gold, silver, and copper mineralization at the Gold Dyke Prospect including: 10.9 g/t Au, 80.1 g/t Ag, 0.72% Cu, 1.97% Pb, and 7.90% Zn in talus, and 4.32 g/t Au and 292 g/t Ag in outcrop; Strong gold, silver, and copper mineralization at the Carmen Creek Prospect including: 15.3 g/t Au, 41.0 g/t Ag, and 0.78% Cu in outcrop, and 4.98 g/t Au, 148 g/t Ag, and 32.0% Cu in talus; Mineralized strike length at Carmen Creek of at least 350 m has been delineated based on first batch of sample assays. Analysis pending for approximately an additional 500+ m of sampled strike length; & Discovery of parallel trending structure to main Carmen Creek Zone with similar rock types and mineralogy - assays pending.
To date, assays have been received for 42 of 224 surface rock samples collected throughout the Property.
Assays results for 20, out of approximately 140, samples collected throughout the Gold Dyke area, have been received. The samples analyzed confirm the potential of the prospect with assays including 10.9 g/t Au, 80.1 g/t Ag, 0.72% Cu, 1.97% Pb, and 7.90% Zn in talus (angular, proximal to source) and 4.32 g/t Au and 292 g/t Ag in outcrop. These samples were collected from an area within 200 m of the main road crossing through the Property and are therefore easily accessible for further exploration and drill testing. Mineralization at Gold Dyke is hosted by strongly silicified meta-sediments with quartz veining and minor sulphides (pyrite, chalcopyrite).
The Gold Dyke Prospect is the most advanced prospect on the Property, having been the subject of some initial drill testing in the past, with encouraging results. The 2020 surface exploration at Carmen Creek successfully verified historical data with rock assays including 15.3 g/t Au, 41.0 g/t Ag, and 0.78% Cu in outcrop (sample 147058) and 4.98 g/t Au, 148 g/t Ag, and 32.0% Cu in talus (angular, proximal to source). Sample 147058 was collected atop a large cliff face, proximal to the site of a historical mill that operated circa 1910 at the prospect.
Further, the 2020 prospecting has discovered a sub-parallel zone/structure approximately 80 m northeast of the main zone that has not been historically documented to the Company's knowledge. The structure is characterized by a 1-2 m wide quartz vein with common magnetite, malachite, and local chlorite. The zone was traced and sampled by the field crew for at least 400 m and a potential extension encountered in outcrop a further 600+ m along strike during magnetic surveying. The discovery of a second potentially mineralized structure at Carmen Creek is significant and highlights potential for additional mineralized structures to be present in the area. A significant portion of the Carmen Creek area remains to be prospected. Collectively, the Carmen Creek core area of interest exceeds 1 km in strike length, with high-grade gold-silver-copper mineralization traced over a strike length of approximately 350 m, with assays pending on sampling for another 500+ meters along strike.
The Company expects to receive drill permits for the Gold Dyke Prospect and intends to immediately carry-out a 5-6-hole (~1,000 m) diamond drill program to collect drill core for assay. The drill testing will twin the historical rotary drill holes RDH 8 and 10, and as well as other targets in the area developed from the recent surface exploration.